As of July 20th, the US has entered its fourth phase of reopening amidst COVID-19 lockdowns. The extent of relaxing the lockdown and reopening the economy varies widely across different states, counties, and even cities. Businesses that operate indoors are more hard-hit than ones that lend themselves more to social distancing. The construction industry is among those that are steadily opening up with work resuming at sites across the country.
Many states including Kentucky, Ohio, Maryland, Massachusetts, and New York have either reopened or are in the process of reopening the construction industry. While nonessential construction projects are still on hold, all essential ones, such as bridges, hospitals, affordable housing, and homeless shelters, are ready to start again.
While there are several different kinds of rental businesses out there, they all share a similar goal – increasing profits. As you focus on making money, make sure your company should also find ways to save money. Every rental business should have an emergency fund, but there are many that don’t. No matter what kind of rental company you operate, you should be looking for ways to save money and cut costs.
The US education sector was valued at $1,350 billion in 2017 and is expected to reach approximately $2,040 billion by 2026. With a CAGR of more than 4.5%, the education sector continues to grow at an exponential rate.
With an ever-increasing number of students enrolling each year, educational institutions have the additional administrative burden of safeguarding valuable rental equipment while still providing students with everything they need in a timely fashion.
Do you run a small business? Then you know that there are always more tasks to handle than hours in the day. These can range from ordering inventory and undertaking quality checks to carrying out maintenance tasks and ensuring compliance.
For maintenance tasks, employees need instructions and direction, equipment downtimes have to be scheduled well in advance, and there needs to be coordination between all departments and locations.
These are uncertain times for businesses around the world. From remote work to remote operations, companies are adjusting their business model to adapt to the “new normal”.
Since this is a time for social distancing, rental businesses need to think beyond brick and mortar. If you have been considering an e-commerce presence, this is the ideal time to take action. Take your business online and continue operations via a rental website.
Regular and robust performance analysis is essential for the success of any business. In today’s data-driven environment, small and medium-size rental businesses can give themselves a competitive advantage by making efficient use of key performance indicators (KPIs).
Every business, irrespective of the industry they’re in, can go through a slow business season. The question is, how do you use this time in a way that benefits the business.
Think of it this way: a slow business season gives you the opportunity to step away from the day to day business operations and focus on pending tasks you always wanted to do but couldn’t fit into your schedule.
This is an efficient way to tackle the sales slump, and will also prove benefits in the long run. You’ll have everything in order, ready to go once things start looking up again. Do you have a few projects you’ve been putting off for a while now? Now is your chance to catch up on some of them.
The rental business industry is currently evolving. This means you need to focus more than ever on how to attract new customers and retain older ones. One of the most effective ways of doing so is through your online marketing efforts.
It’s a digital world and businesses are moving online fast which is why it’s extremely important for you to focus on online marketing. However, the online marketing landscape is always changing with new trends emerging all the time. There’s a lot for you to take into consideration – from what strategies you’re going to use to setting your marketing budget.
To help make things easier, here are 5 online marketing tips that you should not ignore in 2020!
In today’s increasingly digital world, data is an invaluable resource. Your rental company’s success depends on your ability to study, understand, and put your business data to good use. However, overcoming challenges with data is not a straightforward task. This is where you can take help from a rental business solution.
Opting for the right rental business solution will greatly simplify reporting and data analysis, helping you effectively use your data to gain meaningful insights and improve day-to-day operations.
How did personalized pricing start?
Back in the 1860s, before the price tag was invented, customers had to negotiate prices with the seller. If the customer was a regular, they’d get a discount, which kept them coming back and also encouraged others to become loyal customers.
The idea was that loyal customers should receive better offers as a reward for their loyalty as compared to unknown customers who had no history with the company. This pricing method is known as personalized pricing. Modern businesses use sophisticated techniques to apply this method and target individual buyers/renters to increase sales.