Are you planning to buy equipment for your farm? Better first take a step back and consider and analyze the entire cost-benefit situation that is applicable for your farm business. Particularly these points should be considered before deciding on purchasing equipment: · Estimated rental cost for the farm machines needed and for the period of use. · Approximate budget for the new machine · Storage and transportation expenses · Frequency of the use of equipment · Predictable life span of machinery · Expected cost of service and maintenance over its lifetime · Rough expense of labor saved by machinery · Available capital and financing options · Requirement of special technology · Availability of the new-purchase equipment · Potential, multiple uses for farm machines both bought or rented · Capability to afford the test, maintenance and service. The following cost-benefit analysis will help you in understanding which option fits you the best in a much stronger sense, to buy or to rent. Benefits of renting farm equipment. Lots of farm businesses and individual farmers like to hire farm machinery on rent for multiple reasons. Few are mentioned here - · Saves the capital in many cases · Helps with short-term equipment need · Delivers specialty performance with state-of-the-art machinery · Helps in increasing temporary production · Can replace regular machinery in case of maintenance or fail · Caters to meet deadline crunches · Increases machine inventory · Helps in increasing overall productivity · Reduces the burden maintenance and service Equipment, particularly the large one like a combine harvester, tractor and power harrow need high capital cost that need to be planned and may require a good year of benefits to come about. Renting can be the best choice to meet your requirements with low investment.
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Hi There!My name is John. I am from California, western USA. I am living here since my childhood and currently working here as a Marketing Executive in a local Agriculture and Farm Equipment exporting company. Archives
September 2020
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