“We’ve experienced tremendous growth in recent years, thanks to new commercial and residential construction. Memphis alone is having a downtown rejuvenation and is one reason our four stores in the city are doing very well renting to concrete contractors and those who run bigger equipment.”
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This comment comes from Trey Huey, vice president of Memphis-based Williams Equipment and Supply, a general rental company that has been in business since 1961 and currently has 13 locations throughout the mid-South.
Construction alone is only part of the growth equation, added Huey. “A low unemployment rate has made it difficult for our contractor customers to find workers. We’re not just renting equipment to them so they can accomplish a specific task; we’re renting equipment like skid-steer and compact-track loaders to help them ease the labor shortfall. This is a trend that’s ongoing and will likely continue throughout this year and 2020 when we anticipate solid growth to continue.”
While finding and retaining workers has been a challenge for the construction industry, it’s something Williams Equipment and Supply has mainly avoided by offering a competitive wage, attractive benefits, and adapting to the millennial workforce that puts a premium on flexibility.
Still, growth has its challenges. As Huey pointed out, the ’08 recession and the rising cost of Tier 4 equipment has been a catalyst for the company to revisit a rental strategy. “Today, we have better analytical systems in place to track utilization and fleet maintenance, to ensure we get optimum ROI on our rental inventory and keep maintenance costs in line,” he added.
In addition to renting equipment, Williams Equipment and Supply is also a dealer for Bobcat, Bandit, Takeuchi and Wacker Neuson equipment and a supplier of other products for its contractor customers. The company also offers online environmental and safety training.
