I believe the comments from the conference and my personal experience in renting equipment in a Midwest City support what I said last month: the equipment market is changing. It is tightening up, making availability tougher while pushing your costs higher. This is something to consider when bidding future work.
Can you overcome these obstacles and continue to work without equipment problems? Sure you can — if you can offer up a payment plan to the dealer or rental company that gets them paid without any hassle. We had a unit two customers were considering; one of the customers stepped up to the plate with his credit card. Guess who got the unit?
You may want to consider doing something similar, or a variation thereof. For example, you could offer up a credit card 30 days after the invoice date. Or maybe you could pay for the first rental up front to establish credit, and then 45 days after invoicing for the second invoice after that.
Your equipment costs are going up whether you buy new, used or rent. Don’t forget to take these cost increases into account when bidding future work. And don’t forget to make friends with the folks who help keep the equipment working and available.