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 o 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.

Every month, hundreds of thousands of new businesses are started and look to join the market. While many companies exist to sell a product or a service, some simply rent them. There can be a lot of different types of rental companies from renting tools, to renting equipment, to renting party supplies, and everything in between.

Mandatory closures and safety measures implemented due to the COVID-19 pandemic have impacted almost all industries. This is especially true for small and medium-sized businesses that are working with limited resources. As business owners focus on coming up with an emergency response plan, it is helpful to be aware of the various relief programs offered by the federal, state, and local governments across the U.S. 

There are different programs for you to consider, from the Congress pledging a stimulus package and several states introducing their own relief funds. We’ve compiled a comprehensive list of federal, state, and lender-specific COVID-19 relief programs you can pursue.

Mandatory closures and safety measures implemented due to the COVID-19 pandemic have impacted almost all industries. This is especially true for small and medium-sized businesses that are working with limited resources. As business owners focus on recession planning, it is helpful to be aware of the various relief programs offered by the federal, state, and local governments across the U.S.

There are different programs for you to consider, from Congress pledging a stimulus package and several states introducing their own relief funds. We’ve compiled a comprehensive list of federal, state, and lender-specific COVID-19 relief programs you can pursue.

Do you struggle to track your rental equipment effectively?  It can be a tedious task without the right tools and methods — not to mention the risk of inaccuracies and errors. The stakes are high when it comes down to tracking your most prized possessions – your equipment.

Coordinating all your pieces of equipment requires access to important information. Using traditional manual methods or even spreadsheets to track your rental equipment isn’t efficient. It leaves you vulnerable to human errors, greater costs, and in a worst-case scenario, even equipment loss.

Small and medium-sized rental businesses across the world are facing new and unique challenges due to the spread of COVID-19. These include shipment delays, restricted travel, and of course ensuring the safety of employees and customers. This serious global health threat has disrupted millions of lives. As calls for self-quarantine continue to rise, businesses need to take measures that will minimize disruption. 

An estimated 1.8 billion people shop online globally. This means if your rental business doesn’t have an online store, you’re missing out on a huge market and big profits. Give customers 24-hour access to your rental stock to maximize sales.

Your online rental store has to do more than just show customers your products and their prices. Here are six practical tips to help you design and execute a successful online rental store. Implement these and you will be a step closer to a high-performing online storefront.