Hire vs. Purchase - Which is best for hazard control?

Making the decision to either temporarily hire your hazard control solution, or purchase it outright can be a difficult decision to make. There are many factors that come into play when making these decisions, including the type of equipment, the cost of it, and how long you need it for.

There’s lots to consider when deciding whether to hire or buy equipment, especially when budgets are tight and purchase feels like the cheapest route. In this best practice article we explore the top 8 factors that can impact the decision made.

1. The Cost

One of, it not the biggest decision on whether to hire or buy comes down the cost. When looking at personal protection equipment (PPE) such as safety glasses and helmets, it makes financial sense to purchase because they are comparatively low value and generally applicable to most construction, infrastructure, defence and industrial settings, so can be used across a range of sites and environments. Many companies will invest in branded PPE to meet health and safety obligations while simultaneously promoting the company name. Additionally, anything that will form a permanent fixture of your health and safety provision, such as COSHH compliant cabinets or scaffolding safety nets, can be purchased outright for a competitive price.

However, the challenge is when deciding on high quality or specialist equipment that is unique to just one project, this is when hiring has its advantages. Whilst buying can provide budgetary simplicity, it's important to consider some of the hidden costs, including:

• Depreciation
• Insurance
• Fianacing
• Maintenance and servicing
• Inspections and tests, such as a Thorough Examination Test (TExT) for local exhaust ventilation systems.

When all the hidden costs are totalled up and then compared to A) how many days/weeks you’ll need the equipment for and B) what the hire rate is, hiring specialist equipment will often make more financial sense.

2. Performance and Quality

Equipment varies in quality and performance. You can sometimes pick up reduced price pro-grade equipment, but the latest models are rarely discounted, and some professional equipment is not available to the general public, so you might have to settle for second best if purchasing.

3. Innovation and Technology

Equipment manufacturers are constantly researching and developing new technology that can be used to improve their product range. If they can make a product work more effectively and efficiently, they will. This means that models quickly become out dated, and spare parts become harder to source. If you go with purchase, you are likely to be stuck with this product until is it financially viable to purchase the newer model. If you hire your solution, you have access to the latest innovations as they become available.

4. Maintenance & Repair

All equipment, whether hired or purchase will require regular testing to ensure that is it operating safely and efficiently. Some equipment requires specialist testing, for example, Local Exhaust Ventilation Equipment (LEV) requires a Thorough Examination and Test (TExT) every 14 months, and if a HSE inspector visits, they may request evidence of this. It is down to the project manager to ensure these tests have been done.

Hiring equipment often takes this hassle away, for example, RVT Group handle all of this for you, hiring equipment that's well maintained, looked after and working as it should. Should an unexpected breakdown occur, our friendly customer service team can have an engineer it out as soon as the next day to keep you on track, if the unit needs further inspection of work, we can send you an alternative.

Top tip: When hiring machinery, always check when the product was last services and tested.

5. Storage

If you purchase equipment you need to consider where this is going to be stored when not in use. When hiring, equipment is delivered and collected as required for your project, reducing the hassle or storing it.

6. Training

No matter whether you hire or buy the equipment, you will need to schedule training for the teams who are using the new equipment. If you are working with a specialist hire company, they are likely to offer expert advice and training, so this could be something to consider.

7. Safety

Owning equipment can sometimes be of benefit to on-site safety. Workers will feel more confident using certain types of equipment if they are very familiar with using them. Buying repeated-use items (like harnesses for example) means that the item’s history will be known alongside the replacement date. On the flipside, reputable hire companies provide a full demonstration of equipment offered, so you won’t be left figuring out correct usage for yourself.

When procuring health and safety equipment, it is important to ensure that it is tailored for the specific nature of the site hazard. Depending on the complexity of the hazard, you may find it surprisingly difficult to purchase a suitable solution. By hiring a tailored solution through a company such as RVT Group, you’ll be able to rest assured that all of the equipment has been certified to EU standards and is fully complaint with HSE requirements.

Top tip: Always ensure that you have scheduled training for teams who are using new equipment.

8. Environmental Factors

The hire model is considered an inherently sustainable model, because it follows the circular economy principles of reducing waste and reducing material consumption.

What does this mean? Hire companies are very good at following the Environmental Waste Hierarchy (Prevent, Reduce, Reuse, Recycle, Dispose). They constantly check the performance of their products, by conducting maintenance checks and tests. When faults are found, the maintenance team will always try to repair the unit to extend it's life. When a piece of machinery eventually becomes irreparable, maintenance teams will salvage and recondition any spare parts before the unit is finally recycled (if possible) or disposed of.

Furthermore, it is worth noting that a single rental unit might be used by over 50 different sites during it's life, rather than just one. If you calculate the emissions of 50 sites sharing that single unit, compared to all 50 sites purchasing their own unit, the carbon emissions are significantly less (even when you factor in the transport between sites).

You can calculate the environmental impact of hiring a piece of construction equipment vs. buying a piece of equipment, by using the ERA Equipment CO2 Calculator. This calculator can be used to estimate the carbon footprint of construction equipment over its entire life cycle, or it can be used to determine the carbon footprint of a piece of machinery on a given jobsite over a single period.

Top tip: Whether you hire or purchase equipment, always ensure that it is suitable for the task in hand and meets HSE requirements

So, choosing to hire or buy is rarely as straightforward as it seems.

Hiring provides flexibility, access to the best equipment and potential cost savings, and takes away the hassle of storage and maintenance. On the other hand, purchasing allows you to invest in equipment that you’ll use repeatedly, and familiarity of use can be of benefit on a busy site.

If you do choose to hire your hazard-control equipment, let us help you to plan what’s needed. Our team will guide you through the best ways to achieve your H&S goals and will even help you to set up and use your equipment. We don’t just provide equipment, we provide solutions, and we will walk you through every step of your on-site hazard control plan.

Benefits of hiring from RVT Group:

• Wide variety of specialist solutions tailored to your exact requirements, with the ability to be re-configured as on-site requirements change.
• Free site surveys conducted by our hazard control specialists, giving you peace of mind the correct solution will be implemented.
• Supply of compliant solutions in line with HSE guidelines & COSHH regulations.
• All equipment hired from RVT Group is tested before each hire. We are BOHS registered for Local Extraction Ventilation testing, providing TExT reports as required.
• Rapid response times from order to delivery, with support provided by our on -site engineers as needed.
• Reduce overall wastage of equipment on site.