The global motorcycle rental market is set to grow at a CAGR of 7.74% by 2021. A major reason for this growth is an increase in road trip tourism and rising traffic congestion levels. Increasingly, tourists are renting motorcycles to avoid congestion and reach exotic destinations which may not be easily accessible via public transport.
To deal with the growing demand, all motorcycle rental businesses must try to scale up. However, such growth comes with its own set of challenges. Here are some of the common pitfalls faced by motorcycle rental companies and how to resolve them.
EZRentOut has released a new feature that enables you to offer discounts with more flexibility. Instead of giving a flat discount on the entire order, you can now apply individual discounts on each item with Item Level Discounts.
For example, let’s assume you are running a construction rental company. You have two new excavators and one that has been in use for a while. Your client is looking to rent all three for an upcoming project and you want to charge different rental rates for them. Now you can use Item Level Discounts to give a discount on the older excavator in the order.
Avery hosts an extensive collection of common printout templates for companies to build the perfect labels for their items. These are completely customizable and easy to make. Design Avery labels in minutes and populate them with your EZRentOut item data.
The global medical equipment rental market size is projected to reach $65 million by 2026, according to a new report by Acumen Research and Marketing. From individual clients to clinics and hospitals, the range of customers in the industry is diverse.
The market, especially within the US, is thriving because of the increasing number of private clinics with equipment requirements. Also, hospitals are opting to rent expensive medical equipment instead of leasing or buying.
This offers them budget flexibility. For example, due to rapid developments in technology and the need to upgrade quickly, many hospitals may choose to rent costly equipment that they intend to replace in a few months.
Do you find a flat price rate for your rental customers restrictive? EZRentOut now offers an effective solution. You can customize pricing for your customers with our latest feature – Customer Level Pricing. This feature enables you to set personalized rates for your customers on an item level.
Damaged items are a common concern for rental businesses. Depending on the value of the item and the extent of damage, it can be a significant cost for businesses. Not to mention the time and resources you put into repairs. EZRentOut already allows you to charge customers for any damages on their entire order. With our new feature – Line Item Damages – you can now charge customers for damages on an item level.
For example, let’s assume there’s an order that contains two assets: Nikon D3500 and a spare rechargeable battery. When the customer returns the order, the camera is slightly damaged. Our new feature enables you to charge damages only on this particular item and not the entire Order.
The EZRentOut team is excited to attend The ARA Show in Orlando, Florida, from February 10 – 12. We are offering in-depth demos and discounts at the American Rental Association’s annual convention and trade show for the equipment and event rental industry. With over 700 exhibitors, hundreds of networking opportunities, and rental specific education, we hope to see you at one of the premier rental industry events of the year.
The EZRentOut team rolled out some exciting updates last quarter. We’ve increased flexibility in Consolidated Invoices, introduced the ability to settle security deposits, added new alerts, and much more!
If you are in the party rental business then you know it’s no party. Like all businesses, the key to success is hard work and daily dedication to your customers – no shortcuts. Also, it is a competitive market with increasingly innovative ideas propelling businesses to success. So how do you create an impact?
Whether you are new and looking to make your place in the market, or trying to take your business to the next level, you are likely to face multiple challenges.
Here are five tips that can help your party rental business achieve success in 2020.
Let’s say you run car rentals and have a customer who’s renting out a car. A car is a high-ticket asset, so it makes sense if you want the customer to deposit some security against it. The security deposit is important, especially in the rental industry. It serves as an assurance that even if the customer doesn’t return the item, you can at least use the deposit to recoup the lost rental income.
EZRentOut now gives you the ability to settle security deposit payments against rented out Orders. Let’s dive deeper to learn more about settling security deposits.