Renting a Lorry for Your Delivery Business
Over the past year or so, we have seen how much people generally rely on delivery businesses, be it for personal or commercial deliveries. Because of that reliance, there has been a growing demand for quick and efficient delivery on the island.
Now, if you just started your delivery business in Singapore, you likely see the opportunity as it is and take advantage of it. However, there’s more to this business than meets the eye because it requires plenty of investment in the logistics and workforce.
In this article, we will discuss why you should rent a lorry for your delivery business and the benefits of lorry rental.
Why should you opt for lorry rentals?
Delivery businesses often start small using commercial vans or even personal vehicles to deliver the goods. While purchasing the lorries might make sense in many situations, renting them might be the wiser choice in various scenarios. Read on to learn why you should rent the lorries instead of purchasing them.
You’re starting out with limited capital
If you’re just starting out with your delivery business and have limited capital, lorry rentals will help you focus the capital on things that will grow your business like advertising campaigns, securing a better location, offering value worthy delivery services, etc.
Should you purchase a lorry for your business, you might experience some setbacks in your financial resources as it ties up with the asset. Although opting for lorry rentals will also require some capital but it’s not nearly as much as purchasing a truck.
You need to manage a limited cash flow
When your business’ cash flow is tight, purchasing a lorry is out of the question because you have limited cash flow. Renting a lorry for your delivery business is rather wise as it reduces the financial risk your business assumes.
Should you purchase a lorry for your delivery business, you will need to cover the maintenance costs and additional service charges. If your lorry breaks down, you have to be prepared to replace/rebuild components like the engine or transmission that cost tens of thousands of dollars.
You rarely use the lorry for your delivery business
If your business only needs a commercial lorry occasionally, you should rent one on an as-needed basis because this will cost less than owning one. You can also worry less about the monthly payments, maintenance fees, insurance premiums, and asset depreciation.
Let’s say you have a client that occasionally requires your services to deliver large or bulky orders to their customers. You can easily opt for lorry rentals with Edmund Vehicle Rental and deliver your service as promised. You only need to take care of a small rental fee.
How do you benefit from lorry rentals?
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Financially convenient
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No long-term commitments
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No storage challenges
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Varying types of lorries
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Environmentally friendly
Financially convenient
When you’re just starting out or have limited capital for your delivery business, opting for lorry rentals is good for your business. That way, you can focus your capital elsewhere – on things that will help grow your business
No long-term commitments
Purchasing a lorry means a long-term commitment with an asset that depreciates over time. You will have to take care of the repairs and replacement. Meanwhile, lorry rentals don’t come with such clauses as we will take care of the repairs and maintenance while you concentrate on your delivery business.
No storage challenges
Storing a big truck at your business premises will certainly take up a lot of space, which can hinder the visibility of your business. Instead of going through such as hassle, renting a lorry at your business’ convenience will minimise the need for storage.
Varying types of lorries
The only thing that’s constant in this world is change and your delivery business will likely adapt to various service demands in the future. When you purchase a lorry, it may or may not be ideal for the type of delivery service your business is providing. Instead of facing such a dilemma, you can rent different lorries to meet different delivery needs.
Environmentally friendly
If you’re a person who values the environment and want to contribute positively to it, you’ll be glad to know that we offer lorry rentals powered by diesel, which enables most trucks to travel farther while using less fuel compared to other types of gasoline.
In a nutshell, renting a lorry for your delivery business is far more beneficial than purchasing one. When you need some reassurance about your lorry rental decision, be sure to refer to this particular article to dismiss any of your doubts while making important decisions.
At Edmund Vehicle Rental, we provide a variety of lorry rentals to suit your business needs. You can choose between a 10ft or 14ft lorry with box, or those with/without canopy. For your staff’s ease of driving, the lorries are either fitted with an automatic or manual transmission.
If you’re keen on renting a lorry or two from us, simply contact us at (65) 6250 3339 or email enquiries@edmundvehiclerental.com.sg.
