Running a successful business is all about balance. Hire the right number of workers – just enough that things run smoothly and efficiently, but not so many that you can’t make payroll. Charge the right fees – setting prices too low is unsustainable, but setting them too high drives away customers. As a business owner or manager, you might have to make dozens of decisions each day that keep your company balanced. Bringing in recycling equipment is one of those decisions.
You know that your business generates a significant quantity of recyclable waste, and that landfilling it isn’t a viable option for security, environmental, and potentially legal reasons. Having recycling equipment onsite makes sense. With your own baler and compactor, seamlessly integrated into your production systems, employees don’t have to deal with collecting and processing recyclable materials. Your site stays organized, and it’s easy to sell your recyclables for the highest possible price. But is renting the right choice? Or does it make more sense to buy?
The Case for Buying Recycling Equipment
If your business generates enough recyclables, it might seem like a logical decision to buy your own recycling equipment. Purchasing your equipment allows you to totally control how it’s used and serviced. Depending on your business and location, there may be tax benefits to owning your own equipment. And if you decide to sell the equipment down the line, that resale money will go right back into your business.
The biggest drawback of buying your own recycling equipment is the upfront cost. Buying a new cardboard baler that’s powerful enough to suit your needs could cost your business more than $10,000, and that’s just one piece of equipment. Then there’s the burden of finding and paying skilled technicians who can do preventative maintenance and emergency service calls on your equipment. Also keep in mind that getting rid of the equipment at the end of its useful life will also be your responsibility.
Another of the big, but not insurmountable, challenges around buying your own recycling equipment is figuring out exactly what it is that you need. This is an important consideration, because, once you buy it, you’re stuck with it. If owning your own equipment makes the most sense for your business, it’s important to buy from a company that will do a site visit and full analysis of your space and needs before making specific recommendations.
The Case for renting Recycling Equipment
The obvious downside of renting recycling equipment is that it’s not yours to completely control. Your business won’t get any return on its investment if you decide to upgrade, because you won’t have the option of selling any usable equipment. It’s also possible, if you live in an area with few options, that you’ll have limited choices when it comes to the type and condition of the equipment you get.
But because we’re talking about expensive, heavy, potentially dangerous machinery that will eventually need to be replaced, the lack of control over recycling equipment is actually a positive for some business owners. With ownership comes responsibility. If your plate is already full of responsibilities, it can be liberating to let another party manage things like servicing the cardboard or paper recycling machines in your warehouse.
Ease of maintenance is one of the reasons so many companies make the decision to rent. Do you know how to find a maintenance tech who knows every inch of the recycling equipment in your workplace, and how to safely make any necessary repairs? It’s often more cost-effective to arrange for routine service and emergency repairs with rented equipment. Access to qualified technicians should be part of your contract.
Renting also opens an ongoing relationship with your recycling company, which allows you to make changes when necessary. If you decide after six months that your recycling equipment isn’t quite meeting your needs, it could be easier to swap out one piece of machinery for another when you have an ongoing contract.
Still not sure whether you should rent or buy? Let Miller Recycling help you make that call. We’ll visit your site to evaluate your needs, recommend the right equipment and help you develop a recycling plan that maximizes ROI. For rental customers, our experienced techs will keep your equipment maintained and running for the duration of your contract. You may even be able to get your equipment at no cost to you if you qualify for our Recycling Reimbursement Program.
How can Miller Recycling help you manage your recyclables more efficiently? Contact us today to find out.