Construction businesses handle various projects, all of which need various kinds of equipment. Whether it’s a bulldozer, backhoe, or scaffolding machine, machinery is always a significant investment. This is why renting heavy rental equipment for the duration of the project can be a practical and cost-effective solution that prevents heavy rental equipment accidents.
Continue reading
A tool rental business can cater to a broad customer pool, ranging from DIY home project enthusiasts to construction companies. Renting tools and equipment can be an economical option compared to buying and propelled by these trends, the tool & equipment rental industry has grown to $4.4 billion and is expected to grow by 0.8 percent in 2022.
Continue reading
The American Rental Association has forecast an 11.1 percent increase in equipment rental revenue and projected that the construction and general tool segments will reach nearly $56 billion this year. While these are encouraging numbers, your equipment rental business profitability depends on more than just a growing market.
Continue reading
Growing rental businesses can benefit from quick and actionable information on key business aspects. For example, you may want to see how much sales and profits increased during the peak season.
This is where the customized rental dashboard of your rental software can be pivotal to growth.
The equipment rental market in the United States is expected to grow to $57.5 billion by the end of 2024. This means rental businesses can expect an increase in customer demand and profits. On the other hand, increasing demand can also hurt the potential of your rental business if manual methods are used to run day-to-day rental operations, resulting in more challenges than benefits.
The United States construction industry is expected to grow by 8% this year due to increased spending in the housing market as well as a hike in federal spending on infrastructure projects. This means a rise in demand for construction rental equipment as your customers look to rent everything from heavy machinery to tools and supplies.
Continue reading
Fueled by multiple global trends, the furniture rental industry is growing at a rapid pace – a recent survey projected growth of 1.9X times over the next ten years and event rental furniture software helps streamline their operations
These trends include a rising ‘transient’ living culture and an increasing number of people working from home. The transient lifestyle includes people on the go – sometimes traveling for work, moving towards a minimalist lifestyle, or inclined towards environmentally friendly options.
No matter what type of rental equipment you provide, excellent and reliable customer service is essential to your success. Establish trust with your customers by clearly stating all rental terms and conditions with a comprehensive equipment rental agreement.
For a seasonal business like ski rentals, it is important to maximize the advantage of peak season. You need to ensure that you have plenty of equipment in stock and it is in great working condition to efficiently serve customers. Manually tracking a large volume of equipment that is being checked in and out frequently by employees who tend to be short-term workers can be tedious and prone to costly errors.
This is where ski rental software can be a game-changer for your business.
An effective equipment rental marketing plan includes strategies that are specifically designed to market your business to your target audience. It helps you acquire new customers and increases the loyalty of the existing base, propelling growth and increasing profits.
A well-crafted marketing plan can guide you in the right direction to implement marketing goals and gain market share in an increasingly competitive landscape.
Here are some must-haves for an effective marketing plan:
Continue reading