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.
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The EZRentOut team rolled out some exciting new features and enhancements in the past few months. As part of our commitment to enabling seamless individual and B2B customer management, new enhancements enable you to easily convert individual customers into business customers and navigate between them. In other updates, you can create time-specific custom reports and stay updated on important dates.
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Efficient customer management is a critical element of EZRentOut as it equips rental business owners with the features and requirements to seamlessly manage their individual and business customers. As businesses and customers grow, their roles and associations change, requiring rental business owners to shift gears and provide a higher level of support to maintain long-term relationships.
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.
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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.
EZRentOut experienced an outage yesterday, April 21, from 3:38 to 4:13 pm CDT, caused by a distributed denial of service (DDoS) attack. All services were affected during this period but the issue was completely resolved.
Any interruption to our customers’ work is of the utmost importance to our team, and we regret any inconvenience this issue may have caused.
Please contact support@ezrentout.com with any questions.
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.
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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.
The EZRentOut team rolled out some exciting new features and enhancements this quarter. The B2B customer management module simplifies rentals to businesses. In other updates, you can use a Quick Check-in button for faster and more efficient returns, charge rental rates based on how much as Asset was used, and add charts/graphs from Custom Reports directly to your Dashboard.
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