Three Things to Keep in Mind When Starting Your Own Rental Equipment Business

Equipment rental has long since been an integral part of many industries. Companies realise that in order to get a job done, the proper equipment is required, but that doesn’t necessarily mean they have the budget or desire to purchase the equipment flat out. This is where having rental options have become extremely important, and it can make for an intriguing business opportunity for those looking for a new startup.

If this sounds like you, and you’ve decided that operating your own rental equipment business is the right career path, then there are a few tips you may want to keep in mind. These will help ensure that your company operates smoothly, efficiently, and professionally, which will open the door of success.

Invest in an Effective Software Solution

Because the goal of your business is to be successful and have a robust list of customers that continues to grow, it’s imperative you find a way to keep all the customer information, as well as your equipment information organized. This is where equipment hire management software from a company like Baseplan comes in extremely handy.

Baseplan’s software offers increased productivity thanks to the fact that so many different tasks/modules are integrated into one spot. You’ll be able to track your rentals, parts, service, financial information, make use of the CRM specific tools that the sales staff can use, and more. The software can also be used remotely, which is great for businesses whose salespeople are often out in the field rather than at their desks. So, rather than looking at it as a possible option, it should be seen a necessity that will contribute to keeping everything streamlined and operating at full capacity.

It’s About Quality Not Quantity

When it comes to stocking up your inventory of items for rent, the golden rule tends to be ‘buy quality rather than quantity. You want to be offering your customers the best of the best. What this means is that you want to look for equipment that features the latest technology, is the most user-friendly, and is the most useful. The goal is to have your equipment rented out at all times, so when you stock good-quality items, this is much more likely to happen.

It’s important to note that good quality doesn’t mean it has to be top of the line, high-end, and brand new. You can still invest in used equipment that is easier on the pocketbook, as long as the quality is there.

Make a Strong Online Presence

You will also need to think about your company’s digital efforts when setting up your business. Nowadays it is absolutely imperative that you have a website for your company, whether you build it yourself or hire a company to do it for you. The website will act as a huge key in your marketing plan and can help with customer engagement.

Each of these tips will help your rental company to be that much more successful when you open the doors for business.