Operating forklifts have costs associated with them. While you might not think it worth your time to track these costs, this is never beneficial. First off, knowing the average forklift cost per hour is a good indicator to use to determine when to replace them with new lift trucks.
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Second, these costs will help you identify potential problems with particular lifts. For instance, you could have one forklift that is constantly breaking down even though it is a year or two old.There are all sorts of factors you must know in order to calculate the operating cost per hour for each of your lift trucks. These include:
Let&#;s take a look at a few generalized examples to give you a better idea just how easy it is to calculate the average forklift cost per hour. For our examples, we are going to start off with a brand new forklift. We are going to make the assumption the lift is used 1,500 hours annually. We are also just looking at the costs of maintenance and not including fuel costs in our examples.
During the first year, you are going to perform maintenance on average every 200 hours of use. The labor cost to do this is $90 each time. Since the lift is new, any parts that would need to be replaced are typically covered under warranty. So, you would do maintenance 8 times a year. ($1,500/200 = 7.5, then round up since you can&#;t do a half maintenance).Now, take 8 times $90, which equals $720 per year, and divide this by 1,500 hours to get an average cost per hour of $0.48.
During the second year, there are some added maintenance costs, like doing a major interval service for every 2,000 hours of use. For our example, let&#;s assume this service and parts needed to do it cost $1,500. So, you would have $720 in regular maintenance costs plus $1,500 for the interval service, which would equal $2,220. Now divide by 1,500 to get an average cost per hour of $1.48.
You will have the regular maintenance costs of $720, along with $1,500 for another major interval service. You will also probably need to replace the forks and tires. Let&#;s assume new forks cost $700 and new tires cost $500. Add these costs up to get $3,420 and divide by 1,500 to get an average cost per hour of $2.28.As you can see, the average cost per hour gradually increased from one year to the next. Once costs start to average $4 per hour or more, we recommend replacing the lift truck with a new one from us, here at Atlas Toyota Material Handling. Contact us at 877-438- today for all of your lift truck parts and components, as well as new models!
Like a forklift purchase, budgeting forklift maintenance is also part of your annual budget. While every company will have a unique cost based on their usage and application, three areas can assist you with budgeting.
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Planned maintenance (PM) is typically every 250 &#; 500 operating hours, depending on your application and work environment. By identifying the number of hours used by your forklift each month, you can determine the number of PM services needed over the year. This total, multiplied by the cost per PM, will be the budget needed for your scheduled evaluations.
Take time to reviewing invoices related to your forklift&#;s service and repair for the last (12) months. If you have multiple units in your forklift fleet, identify the service costs per unit. Assuming you didn&#;t experience a major service issue; consider last year&#;s spend as your starting budget number. Considering the age of your forklift(s), current hours on the unit, known upcoming repairs, changes to your application and other important factors, determine a percentage increase over last year&#;s spend and insert this total into your budget.
Some components on your forklift will require normal replacement schedule for normal &#;wear & tear&#;, including tires, forks, operator seats and lights. Budgeting for these forklift parts will be a short-term cost but a long-term benefit as your forklift and operators remain productive.
As a forklift ages, you will experience increases to your maintenance budget. Multiple breakdowns and high repair costs are an indicator the forklift is nearing replacement. It is recommended you set a maximum dollar threshold for service and repair costs to help you identify when the timing is best for your company.
ProLift technicians are available 24/7! If your forklift breakdown occurs after hours or on the weekend, dial our emergency service line (800) 837-. Or, contact ProLift to speak to an equipment specialist about forklift planned maintenance.
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