Starting a new business requires a lot of capital and gusto. However, many small companies can be financially stung by a leaking oil tank on their property. Here's why it's best to just get that oil tank removed immediately, even if it costs your small business vital investment capital when it needs it.
Rust Can Heavily Impact Oil Tanks
While most oil tanks on a piece of property are built from tough steel that should withstand many weathering elements, they can rust over time. When rust impacts an oil tank, it can slowly cause the exterior of the tank to wear down. Unfortunately, a small amount of oil might start seeping out of the tank at irregular times.
The frustrating thing about this type of rusting is that it typically occurs from the inside out. That means that it is hard to even notice this type of rusting until it is already a problem. And it will be a severe one if the tank isn't removed right away.
Oil Can Severely Damage Your Soil
Oil is a major problem because it can seep into the soil around your business. Many types of oils, particularly crude varieties, can cause serious environmental damage. Even if your business isn't dealing with crude oil, there is still a chance that this contamination could get into the soil around your business and spread. Getting rid of a potentially leaking oil tank is an essential task for avoiding the high cost of soil remediation.
Assessing The Cost
Many new businesses may think that they can't afford the cost of removing and replacing an oil tank. However, that is simply not the case. Estimates find that it is possible to remove an oil tank for as little as $250. The average cost, though, is about $900 while the maximum is nearly $3,000. For some business owners that might seem like too much money.
However, removing a potentially leaking oil tank is a wise financial decision. For example, if a person fails to get rid of a leaking oil tank and remediation is necessary, it could cost them a lot of money to get their property in working order. It may cost as much as a million dollars or more. Most businesses that are just starting out simply can't afford that kind of financial investment.
As a result, it is important to take the time for a new business to call an inspection company to gauge their oil tank. If the oil tank shows signs of potential leakage, it is probably a good idea to get it removed as soon as possible. Contact companies like A & A Oil Recovery Co for more information.