Have you been wondering lately whether your water truck is your asset or a liability? Unfortunately, investing in something huge, like a water truck, doesn’t always mean that it will be profitable. Investing in large homes, for example, is often much more profitable than investing in large vehicles. This is because so much expenditure is incurred in the maintenance of such vehicles.
There is a high probability that when you purchased your water truck, you thought of it as an excellent investment that could derive income. While the use of water trucks is generally universal, it doesn’t guarantee that having a water truck would be profitable for you. So, to come to a more sensible outcome, let’s weigh out the uses of the water truck and then decide whether it’s an asset or a liability for you.
Uses Of Water Truck
Through the use of any asset, you’ll be able to define its value more concretely. You need to make sure that you put all the applications for your water truck in monetary terms. It doesn’t matter whether you use its services for professional or personal use. The cost needs to be computed.
In operations where dust can disrupt the efficiency and performance of workers, water trucks provide a solution by holding down any dust. Dust suppression is most commonly seen on construction sites and utilises water trucks to achieve this.
A water truck is a transportable tool used to transport water or any other liquid content. So, if you have or are going to use your truck for the same, it’s better to take note of it and compute the cost.
Construction Of Buildings
As mentioned earlier, water trucks control dust on construction sites. They are also used when large volumes of water are needed to even out soil on a construction site. Many truck owners charge a hefty sum of money for performing this.
Farming And Irrigation
Many agriculturalists use a water truck to supply water in the fields where water is scarce. This helps in farming in areas where water is not available. Water trucks are also used in drought-affected areas where agriculturalists carry water in these trucks.
Final Thoughts- Asset Or Liability?
To compute the actual cost for the services provided to you by your water truck, you can use the standard cost of water truck owners in the current market. Once you’ve found a price quotation for water truck services, you can calculate any financial factors. This will be completed by adding the cost of overall services you have used from the truck in a year.
Now, compute the expenses you have incurred on your truck, such as fuel charges, maintenance charges etc. If the fees are more than the service costs provided by the truck, then it’s a liability for you. However, if the service costs are higher, it’s an asset.
Water trucks have proved to be cost-efficient and profitable because of their universal uses. So, if you have decided to invest in a water truck for your business operations, you can start by looking for the best water truck in Australia here.