Scaffolding finance is a simple and cost-effective way of financing your hire kit. Carl Redding shares how WestWon helps businesses lease scaffolding equipment
Scaffolding companies are very similar to leasing companies in a number of ways.
- We both find a prospect
- We then quote a rental and hopefully win the business
- We then rent the customer an asset for a period of time
OK, you have to add in putting up the job, striking and weekly checks on site, but other than that, some of the principles remain the same.
Scaffolding finance is now used by so many scaffolding companies to replace hiring. The key reason is the daily rental cost of hiring compared to that of taking out a lease on scaffolding equipment.
Looking at an example of a 21” pole (costing £12.18), the weekly hire cost will be circa £0.105. The equivalent cost, if you use scaffolding finance, will be £0.0075. *based on a 3-year lease*
Let’s look at the reasons why you do not win business in the first place:
- You do not want the business, the project is in the wrong location, too big or too small
- Price – your quote is too high
- Availability – your team are busy and you do not have the manpower to undertake the work
Assuming you have the manpower, you can fix the second issue on price by reducing the daily rental you will charge your customer.
There are downsides to financing scaffolding equipment as opposed to hiring:
- With hire, you rent by the day, with leasing and financing scaffolding poles you would normally take out a two or three-year lease
- Storage in a yard. Sometimes it is better to hand the tube back at the end of a job and not have the aggravation of where to keep them
However, when you compare the downsides to the upsides of scaffolding finance, you will see clearly why so many scaffolding companies lease and finance their kit.
- You will win more quotes as your equipment cost is lower
- There are no issues when bits of kit get cut or go missing
- Less admin picking up hire kit and returning it, plus all the admin around invoicing, getting quotes from the hire companies and communicating with them about return dates
- And the biggest benefit to financing scaffolding equipment is you get to keep the kit, you are building up a stock of equipment that will last a number of years allowing you to grow your company
Scaffolding finance is a simple and more cost-effective way of financing your hire kit. In most cases, we can get credit for companies like yours. The finance paperwork is simple and can often be emailed to you within a day or so. We pay your scaffolding equipment supplier directly and almost certainly, we will have worked with them before.
I used to be a scaffolder many years ago. My time here at WestWon is only spent with scaffolding companies and we have many reference sites for companies that have financed scaffolding equipment.
Please give me a call, Carl Redding, 07712 357675.