Steam is an asset in many business applications. While steam is generated through the boiler system, it is not always cost efficient to buy a boiler for your business. There are times when it is more cost efficient to rent this large piece of equipment. Thus, you should consider renting if you are in one of these situations.
One of the situations is when you only need steam for certain projects in your business. If you aren't using steam on a regular basis, than it is often more cost efficient to rent a boiler. Boilers not in use can be forgotten about in terms of maintenance and sitting idol for too long is not good for them. Thus, your boiler may break down when it is actually needed and can potentially delay those projects requiring steam.
Another situation is when you are in a temporary building. When in a temporary location, big items such as a boiler are very hard to transport to a new location. The temporary boilers on a trailer are much easier to handle than a boiler located inside a temporary building especially if the building is just a transitional building while the new location is under construction. Since these boilers are located on a trailer, you have one less item to worry about moving when it is time to leave.
If your business is still in the beginning stages of growth, it is more cost efficient to rent one than it is to buy one outright. Because your business still needs to have ready capital for other expenses, this is a way to streamline one big expense. You also don't have to have a lot of money or credit right upfront when business loans are harder to acquire and investors aren't yet investing those big dollars into your business.
Buying a boiler is a big ticket item. But sometimes, it doesn't always make financial sense to purchase one when you can rent used boilers for different applications. These are a few situations in which it maybe more cost efficient to rent this item than it is to purchase it.