It can be easy to forget about the heavy equipment that sits unused on your worksite or farm. However, idle machinery is not without cost, as you are likely still paying to store, maintain, and insure that equipment. How can you certify you are making full use of your used machinery? Here are Equipment Trader’s 6 solutions for what to do with unused equipment:
1. Use It for Training
Unused equipment can’t directly make money, but it can still benefit the business. Instead of storing or getting rid of idle machinery, many fleet managers will convert older equipment into training tools. By first learning machinery operation on units that aren’t being used anyway, new workers can be trained without risking damage to your essential equipment.
2. Rent It Out
Holding onto idle equipment does not generate direct profits until you start using it again. That is, unless you rent out your equipment to other companies! Peer-to-peer (P2P) rentals are increasingly popular, and are an innovative way to make money. However, you do risk the equipment being damaged by the renter, so you may also want to look into equipment rental insurance.
3. Sell It
If you don’t think you are likely to use a piece of equipment again, and don’t want to bother with renting it out, then the obvious solution is to sell it. You’ll have many options, including selling your machinery on EquipmentTrader.com. When listing your unused equipment, include lots of photos and videos, a detailed description, and your most up-to-date contact information.
4. Trade It In
Instead of selling unused equipment yourself, you may decide to trade it in. Just like a car dealership, many equipment dealers will accept trade-ins to offset the cost of a new purchase. This solution lets you easily unload idle equipment, while helping you acquire new machinery that you will actually use.
5. Take on New Jobs
The easiest answer for unused equipment is to start using it! If you’ve got extra equipment — and the extra manpower to operate it — consider expanding your business and taking on more work. By completing new jobs, that previously idle machinery can help put money back into your pocket.
6. Put It into Storage
If you’re not using a piece of equipment, and don’t want to rent it out or use it for training, but still want to hold onto it for future work, make sure you properly store the machinery so it avoids damage and rust. Indoor storage provides the best protection, but at the very least you should cover outdoor equipment with a tarp to protect it from the elements.
Conclusion: Unused equipment does not have to sit idle, taking up space and eroding away. From adding new work to your schedule, to training new employees, to renting out or selling the machinery, there are many solutions available to you for your idle equipment. If you do decide it’s time to sell, we hope you sell your heavy equipment on Equipment Trader’s nationwide online marketplace.