It’s not something Michael Morehouse had to ponder too long. When he started his company seven years ago, was he going to buy or rent a hydroexcavator?“It’s kind of hard to go to a bank and tell them you need to borrow $500,000 for a truck,” says Morehouse, who is the CEO of Davids Hydro Vac in White Bear Lake, Minnesota. “Generally, they want you to be in business three years before they’ll open up a bank account. That was the only option I had, so I had to rent it. ... New businesses, they don’t necessarily want to take
Rent or Buy: Finding the Solution for You
One of the toughest decisions for contractors just starting out is whether to buy or rent their first pieces of equipment.
Nov 29, 2016 | by Greg Bates |
