Pacific Metal Buildings in Maxwell, a metal buildings provider, is teaming with Getable, a San Francisco online, on-demand sharing economy small business connecting equipment rental companies with construction firms in need of products, from hand tools to bulldozers to giant cranes.
Pacific Metal products range from small mini-storage, open carports, fully enclosed garages and warehouses. They have rented forks lifts from Getable instead on buying them. Getable links its customers to hundreds of suppliers via its online portal and app.
“Why spend tens of-thousands of dollars on construction equipment when you can rent it?” says Leigh Goldstein, CEO of the company. Anel Rolon of Pacific Metal agrees. According to Goldstein renting makes sense over buying for several reasons:
Lack of credit. Typically, the purchase of large construction equipment has to be financed. With credit markets tightening dramatically in recent years, many contractors do not have the means to purchase their equipment. Many contractors are using rental machinery because it is easy to get a loan for the total cost of a job than it is to get a loan for an equipment purchase.
Increased flexibility. Renting equipment allows small contractors to only use the equipment when they need it for a job. Construction managers also like the fact that renting their equipment allows them to change pieces if the need arises.
Cost control. The purchase of a piece of large equipment requires a large upfront capital investment, or a recurring business expense that must be met every month. When there’s no work that needs that particular piece of equipment, the costs of that machinery still have to be met. With a rental, however, the costs of the equipment are directly tied to the job that it is being used for.
In addition to construction, Getable’s clients range from solar installation companies, warehouse management (e-commerce, distributors, etc.), facilities management (hotels, hospitals, prisons, airports, etc.), wine-making, farming, mining, tree removal and pruning, utilities, event management, and even home-owners.