Running a rental business today is vastly different from even a decade or two ago. Companies are going through rapid digital transformation and rental businesses need to make changes to keep up with the evolving landscape and competition. So what does this mean for businesses with physical locations that are renting out gear or equipment?
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Today’s rental customers have more choices than ever before. This is why it takes more than an excellent product portfolio to earn loyal customers. Price, packaging, customer service, and reputation are just a few of the elements that influence a customer’s renting decision. So how can your business stand out?
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From small businesses in hyper-growth mode to an established business with temporary project-based requirements, renting office equipment can be a cost-effective solution for many types of organizations. Office equipment is a major capital investment and many businesses that do the cost-benefit analysis find that renting is a better option for them.
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Rental businesses often require their customers to successfully upload documents to process the rental order. For example, if a customer is renting a truck, you would need them to provide a copy of their driver license. EZRentOut’s Upload Documents on Cart Checkout feature enables your Customers to easily upload any required documents while renting out an Order on the Webstore. You can specify the type, size and number of documents they can upload and also enable a setting to review and approve these documents.
Let’s take a deeper look at how this feature works:
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Is your rental business operating across multiple locations? While stock management across multiple locations can offer many benefits such as a larger customer base and market, it also comes with a unique set of challenges.
One key challenge is maintaining optimal stock levels of rental inventory at all your locations. It is necessary to increase stock levels when a business is growing into different markets. However, carrying too much stock ties up capital or running short on inventory means losing on sales and customers. A balanced inventory level helps you meet demand while also controlling costs for the business.
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Inventory valuation is an accounting practice for companies to find out the value of unsold items at the end of the financial year. Inventory valuation methods help calculate the monetary value of remaining inventory, evaluate cost of goods sold and eventually affect your profitability. This is why it is important to choose the right inventory valuation method for your business. Within EZRentOut, you can use two options including:
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With EZRentOut customers spread across the globe, we aim to make it a seamless process for rental businesses to track their assets and manage their stores online. Our localization capability enables you to customize your EZRentOut account to suit your local requirements.
Whether you want to set a preferred time zone, select a language, or even create local tax details, you can easily customize the account according to your requirements.
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The EZRentOut team rolled out some exciting new features and enhancements last quarter. The powerful new Tax Groups feature enables you to apply multiple taxes to an Order or line item. In other important updates, use Work Order Costs to seamlessly track costs associated with multiple tasks, and enable hardware terminals to simplify credit card payments.
Read the complete May 2021 Release Notes to learn more.
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Rapid urbanization,a globally expanding construction sector, and strict regulations about public hygiene/sanitation are instrumental in the rapid growth of the portable sanitation and toilet business.
Efficiently delivered, managed, and installed portable sanitation facilities are an essential part of outdoor activities. From large-scale outdoor events to smaller personal gatherings, and projects such as a construction site, portable toilets and sanitation stalls provide an easy and hygienic solution.
Depending on the nature of the event/job, your portable toilet and sanitation rental business can get an order for different types of installations. These can be primarily divided into:
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The golf cart rental market is expanding rapidly due to multiple trends including increase in golf tourism, rapid urbanization, and increased use of carts during vacations and events. To illustrate, consider this: The American golf cart market size is projected to reach at $1,627.6 million by 2026, growing at a CAGR of 3.9% from 2019 to 2026.
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