Dick Detmer is a nationally recognized consultant, lecturer and writer with 35 years of experience in the equipment rental industry. In 2013, he celebrates the 25th anniversary of his business, Detmer Consulting Inc., and of his column in Rental. For consulting, on-site employee training or to order his books, visit www.detmerconsulting.com. Dick can be contacted at email@example.com or (309) 781-3451.
I've been to well over one thousand rental companies in North America and every now and then I get the rare treat to venture to far-away places. This summer I had the pleasure to visit several rental businesses in Ireland.
My customers are more than “cautiously optimistic” about the state of their companies. Still, the sentiment is a far cry from “irrational exuberance.”
In any business, it's just not wise for the person at the top to be bogged down with the mountain of day-to-day minutiae that must be dealt with in running a successful business.
Now that at least some of the fiscal cliff uncertainties seem to be clearing up a little, it might be a good time to look into what investments in your rental business really make sense now.
Regardless of what items you're renting and what types of customers you traditionally draw to your company, there are certain constants when it comes to growing your rental business successfully (and profitably)
Selling select related consumable items can not only can generate more income but also can help increase the number of rentals as you provide the convenience of one-stop-shopping
Even if you dislike technology and it seems boring or frustrating to you compared to the rental equipment you know so well, some technology really makes profit sense. So, keep your mind open and consider these small examples.
Handing off the reins of the business to the next generation is a bittersweet thought process, and it's possible your existing management staff is not adequately prepared to take over for you.
One of the bigger issues I’ve been asked to address is where the industry is headed now that one of the largest equipment rental companies is acquiring another very large rental company. How will smaller rental businesses compete? As we examine this...
One of your most important initiatives this year should be to have a comprehensive strategic plan that includes a vast array of very specific steps the company has vowed to take in order to lead to much greater success.
Build your business by promoting the concept of renting.
Policy and procedure changes can have an immediate
positive effect on your rental business.
The keys to employee efficiency are better communication and targeted training
Having high expectations of your supervisors will benefit your whole rental business
How to get rid of the ?I can?t do anything about it? syndrome at your equipment rental business
With the economy stalled, here are some ways to restart your engine -- and your equipment rental business
Yellowstone Rental & Sports learns to diversify and go where the business is
How you can make up for lost income
Shape your rental business by wisely managing expense cuts now.