Running a profitable skid steer rental is not as easy as just having machines people can rent. With so many competitors nowadays, you’ve gotta go the extra mile to better meet customer needs compared to the other options out there.
By making smart upgrades across key parts of your rental – your fleet, marketing, processes, technology – you can pump up growth and profits. This article has tips to take your skid steer rental game to the next level.
Opt for units in your fleet with additional features that customers prefer in a skid steer
Many models have additional features – at little extra cost to you upon purchase – that can add a lot of value and appeal for prospective customers. These added features often come at a small additional cost during the initial purchase, making them an attractive proposition for buyers seeking more bang for their buck.
From advanced functionalities and cutting-edge technology, to premium materials and enhanced durability, these supplementary options cater to diverse consumer preferences, enabling businesses to tailor their offerings to a broader audience.
Having models like this in your fleet can make renting from your business more attractive to customers. Offering units with the latest amenities and capabilities can be a key competitive advantage to win over customers from rival rental companies. The specialized accouterments generate extra value that persuades clients to pay higher rates.
These kinds of features can also help attract higher caliber, higher-dollar clients, like large contracting firms. Premium models tend to appeal more to professional firms and discerning users willing to pay top dollar for quality equipment that enhances performance, uptime, and operator comfort.
Choice between control pattern schemes
Skid steers tend to have two different kinds of control schemes: hand and foot controls, and hand-only “H pattern” controls. Providing customers the choice between control schemes caters to diverse experience levels and preferences, expanding your potential customer base.
Customers renting from you may often be more familiar and comfortable with a particular control scheme, so there’s a lot of value in stocking models that can accommodate both. Operators tend to strongly favor the type of controls they are trained on and are most used to using day-to-day. Offering both schemes inspires loyalty among veterans partial to their preferred style.
Climate-controlled cab enclosures
This is especially pertinent in regions that have particularly cold and snowy winters, or particularly hot summers. Climate control allows continued operation in extreme temperatures that would otherwise risk equipment failure or operator health.
This is a luxury feature, and it’s one that you can charge extra for. As a premium amenity, climate systems justify charging 10-25% higher rental rates. Customers readily accept paying more for added comfort and safety.
Many firms may well opt for the extra fee for A/C or heat, especially in very hot climates in the southern US – can be beneficial for worker safety. Employers increasingly prioritize worker health and occupational hazards like heat stroke. Climate cabins demonstrate this safety commitment.
Also boosts the unit’s resale value. Desired amenities like HVAC maintain higher residual value at trade-in or resale.
Severe-duty or solid flex tires
Skid steer tires can be costly to replace. “Severe-duty” and “solid flex” are two styles of tires that don’t go flat, and come in different treads for different kinds of uses/applications. The reinforced construction prevents costly downtime and repairs from punctures that sideline standard tires.
Not only can you increase your equipment’s value by investing in higher-quality tires, but you’ll also save money in the long run on tire replacements.
Calculate your losses, and make adjustments as needed
Financial leaks can lead to larger problems over time. Minor overlooked losses accumulate substantially over months and years.
Rental businesses are complex undertakings with a lot of proverbial “moving parts” – there are many areas where you could be losing money when you don’t need to be. The sheer diversity of expenses and assets creates pockets of waste that fleece profits.
E.g., if some of your equipment is seldom rented and sitting idle, you’re still paying for maintenance, but it’s not bringing in any revenue. You may be able to sell off this equipment and invest in alternatives that sell better. Analyzing utilization metrics helps identify underperforming equipment to remove from service or sell.
Invest in effective marketing strategies
Before customers rent from you, they need to know that you exist in the first place. Marketing establishes awareness among those unfamiliar with your brand.
Marketing is worth investing in. Promoting your business generates manifold returns on investment across many facets of operations.
Popular, well-established strategies like email marketing, SEO/content marketing, PPC, and other channels will get your messaging in front of the right audiences at the right time.
Leveraging proven methodologies ensures your budget is spent effectively to maximize exposure.
Implement rental equipment business management software to simplify, streamline, and automate your operations
You can boost your overall ROI by investing in dedicated rental business management software like Quipli. Specialized platforms deliver exponential time and cost savings over makeshift manual approaches.
Quipli’s powerful platform covers your business and its processes from end to end. Unified solutions avoid disjointed workflows that introduce errors and inefficiency.
Quipli’s equipment rental software provides you with key customer-facing features like online booking and point of sale, making it easier for customers to rent from you right away when they find you online. Quipli’s powerful inventory management tools, billing and invoicing features (integrated with Quickbooks Online) can automate things you and your team may have been spending time and money on handling manually, freeing you to focus on more important parts of running your business.
Quipli can help you take your skid steer rental business to the next level
Contact Quipli today to implement a streamlined equipment rental management solution that takes your business to the next level.
