There are a lot of businesses that produce wastewater that needs to be treated before it is either disposed of or reused. That requires equipment that can be quite costly if you buy it outright. Therefore, it makes sense to first determine whether renting the waste water treatment equipment instead of buying it is the more economical choice.
Types of Treatment Needed
The first thing to consider is what kinds of wastes you need to treat. Whether it is particles of suspended solids, biodegradable organics, pathogenic bacteria, nitrates, phosphates or any other substance that needs to be removed, equipment can be purchased or rented that will do so. Once you’ve determined the equipment you need, you can then check the cost of purchasing it and do a compare and contrast evaluation of what it would cost to rent the equipment instead.
Even if you would like to eventually own your waste water treating technology, it can still make sense to initially rent or lease the equipment you need. That’s because renting allows you to learn the operation of the equipment and evaluate its performance before taking the crucial step of owning it. Renting also allows you to experiment with different types of equipment without the risk of buying something that ends up not meeting your needs. Once you are completely satisfied that the equipment you are renting meets your requirements, then you can make an informed decision whether to purchase it or continue renting.
Among the other things you will need to consider is how long you will need the equipment. If your waste water treatment needs are of a temporary or short term nature, then it makes even more sense to rent rather than own. As you would in any transaction, carefully read and make sure you understand the terms of the lease or rental agreement. You should also ask who will be responsible for maintenance and whether the rent can be applied to the purchase price should you decide to buy the equipment outright. If all these factors are suitable, then you owe it to yourself to consider whether renting your waste water treatment equipment may be the most economically smart choice for your business.
Byron Simpson is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance cent.