Last year was a good year for Lake City Equipment & Event Rental. Between two locations, one in Hayden, ID and another in Spokane, WA, business was up 15 percent over the previous year. Owner Mike Macomber anticipates the same for this year, maybe even better if the Trump administration does what it says it’s going to do.
“Last year, despite the regulations, people were making it happen here,” reported Macomber. “It was go, go, go for framers, concrete contractors, and even landscapers, many of whom reported having one of the best years in a long time. If the Trump administration can reduce the tax burden and bring industry back into this country, this year should even be better.”
But this veteran of more than 20 years in the industry is a realist, too. “The Great Recession was devastating for us and catastrophic for many rental stores that were leveraged beyond their means. The recession had a residual effect and owners who have gone through it and survived are a bit more cautious about overextending themselves. It’s not just what’s happening to the economy in this country, but what’s happening around the world that impacts our industry and others.”
With that said, Macomber remains very optimistic about this year, not to say there aren’t challenges to overcome. “Our biggest challenge is trying to find quality employees," he said. "This business is not your typical retail operation. Our employees need to be knowledgeable about the equipment they’re renting, something that one can't just learn overnight.
“The other ongoing challenge is competition. A pent-up demand for services has given many more people the idea there’s money to be made in the rental market,” Macomber observed.
As he pointed out, competition isn’t all bad; it just makes stores sharpen their pencils. If nothing else, Macomber’s looking for Trump’s administration to make that sharpening a little less onerous.
