Every industry has at least a few of them - those unwritten rules that can make or break a fledgling business or even impact an established company. When it comes to the do’s and don’ts of equipment rental, we’ve taken it upon ourselves to go ahead and write them down for you, so you won’t have to suffer through the pain of learning them the hard way.
Do stay focused on your customers and on customer service.
While this cardinal rule of business may seem obvious, too often owners and employees get so tied up in the logistics of running their equipment rental company, they actually forget all about the very people that should be their number one priority. Keep in mind that if you aren’t working on building your customer base, you simply aren’t going to be making any money. And at least as importantly, if you have an especially happy or unhappy customer, they’re going to be sure to let all of their friends, neighbors, relatives and business associates know about it, which is also going to have a big effect on your bottom line. Let the tools that are available to you, like EquipCalendar, take care of the logistics so that you can spend your time making your customers smile.
Do sell underutilized equipment.
If there’s one thing that you need to know about an equipment rental business, it’s that if a piece of equipment isn’t renting, then it’s not earning you money. You can easily track which items you currently have that aren’t paying for the expense of keeping them around, whether it’s because of the routine maintenance they require or that they’re just taking up too much space. It’s much better to bite the bullet and sell your underutilized equipment so that you can invest in something else that’s in higher demand.
Don’t ever let them see you sweat.
The rental equipment biz can be stressful, there’s no two ways about it. But it’s very important that you maintain professionalism at all times, in front of both your customers and your employees. That’s because if you want to be taken seriously and inspire confidence in your abilities, you simply can’t be caught running around like a chicken with your head cut off. Do whatever it takes for you to keep your cool in the moment and then, if you really, really need to, feel free to lose it the moment you get to your car.