Fleet and equipment
Plant fleet management for hire companies
How to manage a hire fleet day to day: asset register, telematics, machine statuses, compliance records, lifecycle planning and the reports worth reading.
Key takeaways
- Keep an asset register: every machine and attachment with serial, cost, finance and records.
- Telematics gives location, hours, alerts and usage without phone calls.
- Every machine should have a clear status: available, on hire, in service, quarantined.
- Compliance records (PUWER, LOLER) should be linked to each asset.
- Plan each machine's life: buy, earn, service, sell.
The asset register
| Field | Why |
|---|---|
| Asset number | Matches decals and booking system |
| Make, model, serial (PIN) | Identity, theft recovery |
| Purchase date and cost | Depreciation and allowances |
| Finance agreement | Lender, term, end date, settlement |
| Tracker and immobiliser IDs | Security |
| Insurance value | Keep sums insured accurate |
| Attachments | What belongs with it |
| Status and location | Day-to-day planning |
Telematics
- Location and geofence alerts, which also deter theft. See theft prevention.
- Engine hours for service planning and billing checks.
- Out-of-hours use alerts.
- Fault codes on many newer machines.
- Many manufacturers' systems share data in a common format; ask before buying.
Machine status
| Status | Meaning |
|---|---|
| Available | Checked, clean, ready to hire |
| Reserved | Booked for an upcoming hire |
| On hire | With a customer |
| Off-hired, awaiting collection | Customer has called off |
| Inspection | Back in the yard, being checked |
| Service / repair | With the fitter |
| Quarantined | Unsafe or awaiting parts; must not be hired |
A booking system that tracks these statuses stops double-bookings and hiring out unsafe machines.
Compliance records
- PUWER inspection and LOLER thorough examination due dates, linked to each asset. See PUWER and LOLER.
- Service history by engine hours. See maintenance.
- Defects and repairs.
- Manuals and familiarisation sheets.
Lifecycle
- 01
Acquire
Buy the right machine; see first fleet.
- 02
Earn
Track utilisation and margin; see utilisation.
- 03
Maintain
Service on time; keep records.
- 04
Review
Yearly keep-or-sell decision.
- 05
Dispose
Sell at the right time; see sell or replace.
Reports that matter
- Utilisation and margin per machine.
- Upcoming services and inspections.
- Machines in repair and for how long.
- Finance agreements ending in the next six months.
- Machines approaching your replacement age or hours.
FAQs
Common questions
What should a plant asset register include?
Is telematics worth it for a small hire fleet?
How do I stop unsafe machines being hired out?
Keep going
Related guides
Maintenance
Service intervals, off-hire checks and records.
Read guide →
Booking
Availability, bookings, delivery and off-hire without double-booking.
Read guide →
Utilisation and break-even for hire equipment
Calculate break-even utilisation for each machine.
Read guide →
When to sell or replace hire equipment
Repair costs, residual value and capital allowances.
Read guide →
This guide is general information for people setting up a plant hire business in the UK. It is not legal, tax, insurance or financial advice. Rules and thresholds change, so check current guidance on GOV.UK and take advice from an accountant, solicitor or broker before acting.