Why Renting Farming Equipment May be the Best Move for Your Wallet
At one point in history, those who owned their own farm not only prospered financially but also had no problem meeting the demands of the population. However, over the years, those two things have been flipped. The world population has exploded in just a few decades, with much of that being due to the very same technology that has improved farming. In terms of finances, farmers within the Jacksonville and St. Augustine, Florida, area are having a tough time making ends meet, with expensive farming equipment being part of the issue. We at Johnson Fleet and Farm understand that issue, which is the reason why we highly recommend simply renting farming equipment rather than owning outright. Not convinced? Read on to learn a few of the reasons why renting may be your best move for your wallet.
Savings on Owning Costs
Perhaps the most obvious reason for renting rather than owning farming equipment is because of the cost that comes from owning it outright. Yes, the initial price tag of a new purchase can be quite a hit to the wallet; however, the expenses are not done with you just yet. Farmers also have to worry about ensuring that any accessories and vital components are running at their best. In many cases, the owner of the rented equipment will cover all those maintenance expenses, thus saving farmers thousands in repairs.
Helps to Grow Small Farms
If you own large pieces of land or even multiple farms, it makes sense to simply purchase farming equipment as they can last for years. However, if you're just starting out, the last thing you want is to go into instant debt with the swipe of a credit card. Such a large amount of debt can hinder your cash flow within the first few years of your farming business. Renting allows start-up farms within the Yulee & Fernandina Beach, Florida area or in Homerville, Georgia, to have some breathing room when it comes to other forms of expenses such as supplies and employees.
Access to Better Equipment
Growth is perhaps the most common goal for most farmers. Growth means that not only are they providing a positive contribution to the community but that they are also seeing profits. However, speak to those within the industry, and they will tell you that in order to have a more efficient and cost-effective farm, you need to have certain special equipment to do so. For many, investing in the latest technology may not be financially possible. Renting allows smaller farmers to have access to these machines and keep up with the bigger competitors in their area.
As you can see from the information above, there are a plethora of benefits that come from renting rather than buying farm equipment. Those within the Jacksonville and St. Augustine, Florida, area interested in taking their farm to the next level should contact or visit our experts at Johnson Fleet and Farm in Yulee & Fernandina Beach, Florida, or Homerville, Georgia, for further recommendations.