How to Communicate and Invoice a Customer for Broken Equipment

Every now and again, a customer will end up damaging your equipment. While most renters will care for it and use it properly, customer-incurred damage is something that can and will happen.

In some cases, damage might occur in a way where the customer isn’t really at fault. But in other cases, the damage is clearly due to a mistake on the customer’s part, and they can reasonably be said to be at fault for it.

It’s important for rental companies to prepare for this contingency, and to have processes and policies in place to bill the customer fairly for the damage they caused, so that you won’t have to eat the entire repair or replacement cost.

Tips for planning ahead for cases of customer-incurred equipment damage

No matter what type of business you run, there’s always a risk of customer-incurred equipment damage. From conducting regular inspections to having the right insurance coverage, these tips will help you be ready for any unexpected situations that may arise.

Create and implement a clear, explicit damage waiver

The specifics of damage waivers can vary among different rental companies, but the core intent is the same. You’ll want a legally airtight document, which customers need to sign when they rent from you, that makes it clear and explicit what kinds of damages the customer is responsible for, and how you will go about invoicing and collecting for those damages if they occur. 

This is something where it’s best to consult with a contract attorney. By signing it, the customer is agreeing to pay to cover damage to your equipment for which they are at fault (with what constitutes “at fault” delineated in the waiver). Having a well-drafted damage waiver in place not only protects your business but also sets clear expectations for customers, reducing the likelihood of disputes.

Consider implementing a security deposit

Up-front security deposits are another way to help protect your business financially from potential repair costs. A security deposit is generally returned to the customer at the end of the rental period, but withheld in the case of damage. 

This approach serves as an incentive for customers to handle the rented equipment carefully and responsibly, as they are aware that they will forfeit their deposit if any damage occurs during the rental period. Security deposits can also help cover the cost of repairs or replacements, minimizing the financial impact on your business.

Timely communication is absolutely essential

The COVID-19 pandemic brought serious issues concerning the availability of replacement parts for heavy equipment. During that time, a lot of rental companies had machines that were hard down but unable to be repaired. Even now, there are still some lingering supply chain issues ongoing.

Planning ahead and keeping replacement parts available ahead of time can help you ensure timely repairs on hard down machines, to get them out on rent and generating revenue faster without having to wait on parts – multi-month wait times for a critical machinery part could mean a lot of lost revenue on that piece of equipment.

To avoid this situation, establish a relationship with reliable suppliers and manufacturers. Maintain an inventory of commonly needed replacement parts, such as filters, belts, hoses, and electrical components. This proactive approach will help minimize downtime and ensure that your equipment remains in top condition.

Implement a well-defined damage waiver policy for customers

If a piece of equipment is returned with significant damage – for which the customer is clearly at fault – it’s important to discuss it with them immediately. Machines should be undergoing inspection no later than 24 hours of being returned by a renter. However, the best inspection strategy is to inspect with the customer still onsite so that your staff can communicate in person any damage that was created. Offer to have a quote ready on the repair cost for them within 48 hours, 72 at most.

What you don’t want to do is wait days – or even a week or longer – to inform the customer about the damage. Prompt communication helps maintain transparency and trust between you and the customer, and it also prevents any misunderstandings or miscommunications that may arise from delayed notifications.

Document everything with pictures

Photographic evidence is a key way of establishing and proving that damage to a piece of equipment was incurred by a customer. Quipli’s software allows you to store and upload these images for future reference if needed. Be sure to take a series of clear, high-quality photos both directly before, and directly after, each rental period.
That way, if you need to invoice a customer for damage and they try to dispute it, you have solid proof of the damage in question. Customers also often back down from disputing an invoice for damages if you’re able to show them that you have that kind of proof – preventing legal headaches.

How to invoice a customer for damage to your equipment

A customer has returned a unit of equipment with severe damage, incurred by that customer’s own mistake or negligence. What happens now?

Take photos immediately of the damage, to compare against the “before” photos.

Before you create a work order and send the machinery in for repairs, make sure that the nature and extent of the damage is fully documented photographically. This step is crucial in establishing a clear and accurate record of the equipment’s condition, which will help you justify the repair costs and make it easier to resolve any potential disputes with the customer.

Confirm which customer was the last to rent the damaged equipment

With Quipli’s software, when you create a work order for damaged or hard down equipment, you can easily click through to view the last invoice number associated with its most recent rental period. This allows you to quickly identify the responsible party and begin the process of invoicing them for the damage.

Determine a fair amount to bill the customer to cover the repair cost.

The terms and conditions associated with this should be clearly and explicitly delineated in a damage waiver that all rental customers will sign when doing business with you. Ideally, you’ll want to charge such that the full cost of the repairs are covered, so you’re not paying out of pocket and losing money due to the customer’s mistakes. 

There are a number of ways you can go about determining amounts – some companies, for example, will specify something like “3-5x the total rental cost” as the damage penalty. It’s important to be fair and transparent with customers about these charges, as this will help maintain goodwill and minimize disputes.

Communicate to the customer that they are at fault for damage, and that you will need to bill them for the cost of repairs.

Centralized, clear communication is important. It’s a good idea to make sure that the relevant communications are all in writing – e.g., via email that you can save and back up – in case of a legal dispute in which those materials might be needed. 

Provide the customer with a signed copy of your binding contract specifying that they will be liable for damages, as well as copies of the photos you took of the damage. This kind of evidence can help prevent pushback from the customer, as it demonstrates the legitimacy of your claims.

The right software can help you streamline your invoicing process for customer equipment damage

You can do this using Quipli’s billing and invoicing software tools, which also integrate with Quickbooks Online. Make sure to itemize the repair costs and include any relevant documentation, such as photographs and the signed damage waiver, to support the charges. This will help the customer understand the rationale behind the invoice and reduce the likelihood of disputes or non-payment.

Properly handling equipment damage and effectively invoicing customers for repairs is a critical aspect of running a successful rental business. By implementing clear policies, maintaining open communication, and using tools like Quipli to document and manage the invoicing process, you can protect your business from financial loss and maintain positive relationships with your customers.

Conctact us today to learn about Quipli’s billing and invoicing features, as well as service/repair features to streamline your operations and ensure a smooth, professional experience for both you and your customers.

Contact Us Today to Learn About Quipli’s Service & Repair Features

The Most Rented Construction Equipment


The construction industry is on the rise, making now a great time to open an industrial tool rental business. However, you still have to figure out exactly what kinds of equipment your customers want.

Online research can let you know the relative search frequencies for equipment, showing which are in the most demand. We used an online search tool called Ahrefs to find the numbers behind how many people are searching for common construction equipment each month, so we could help find what equipment has the highest demand in the construction equipment rental industry.

Our analysis compares data from 2023 and 2022. That way, you’ll have an up-to-date understanding of how equipment demands change within the rental industry.

Table Of Contents

  1. The Top 10 Most Popular General Tool Rentals
  2. The 10 Most Popular Heavy Equipment Rentals
  3. The 25 Most Popular Rental Equipment

General Tool Rentals Versus Heavy Equipment

While some rental businesses focus on general tools for smaller projects or homeowners, others might focus on heavy equipment rentals for contractors and construction teams. The following data represents each of these niches to provide deeper insight into how consumer behavior might impact your specific business.

The Top Ten Most Popular General Tool Equipment Rentals

Every year, more people perform DIY maintenance on their homes, especially as contractors charge higher prices. This might explain why we’re seeing such enormous growth in products like paint sprayers (+111%). However, consumers are also seeking outdoor equipment like log splitters (+46%) and sod cutters (+17%).

The greatest losses occur with products such as concrete mixers (-11%) and stump grinders (-3%), with no change in the search frequency of pressure washers or trenchers.

Most Rented Tools

The Top Ten Most Popular Heavy Equipment Rentals

Scissor lifts have seen the greatest increase in demand, with a 130% increase in search frequency in 2023 as compared to 2022. However, consumers are also increasing their searches for items like cranes (+70%), forklifts (+46%), and scaffolding (+33%).

At the same time, 2023 has seen a decline in searches for lifts (-18%) and bucket trucks (-14%). Boom lifts and excavators have held mostly steady, with only a 1% decrease in search frequency compared to last year.

Most Rented Heavy Equipment

Here is the full breakdown of the top 25 most popular equipment to rent for 2023.

1. Stump Grinder Rental

2023 Average Monthly Search Volume: 33000

2022 Average Monthly Search Volume: 34000

Year Over Year Growth: -3%

Estimated Rental Price: $75 to $100 per hour

Stump grinders are one of the most efficient ways to remove tree stumps and prevent future tree growth. Most equipment rental businesses rent out this equipment by the hour, though some may choose to charge customers by the number of tree stumps.

2. Scaffolding Rental

2023 Average Monthly Search Volume: 28000

2022 Average Monthly Search Volume: 21000

Year Over Year Growth:  +33%

Estimated Rental Price: $15 to $40 per day

Always in need of any type of exterior renovation and construction work, scaffolding is something that contractors need from time to time but can’t justify purchasing. Instead, this equipment is almost always rented.

3. Scissor Lift Rental

2023 Average Monthly Search Volume: 23000

2022 Average Monthly Search Volume: 10000

Year Over Year Growth: +130%

Estimated Rental Price: $100 to $300 per day

Scissor lifts are available in electric, gas, and diesel configurations, providing access to high and narrow places that can come up in certain jobs. There are even rough terrain scissor lifts for outdoor environments.

4. Forklift Rental

2023 Average Monthly Search Volume: 19000

2022 Average Monthly Search Volume: 13000

Year Over Year Growth: +46%

Estimated Rental Price: $225 to $750 per day

There are a wide variety of forklifts that are among the most rented equipment out there. For warehouses or rough terrain, forklifts are specialized equipment that companies with limited demand are sure to rent.

5. Pressure Washer Rental

2023 Average Monthly Search Volume: 12000

2022 Average Monthly Search Volume: 12000

Year Over Year Growth: 0%

Estimated Rental Price: $40 to $100 per day

A pressure washer makes it fast and easy to remove grime from a home’s deck, patio, or siding. Since pressure washers can cost as much as $400, many consumers prefer to rent this equipment.

6. Trencher Rental

2023 Average Monthly Search Volume: 12000

2022 Average Monthly Search Volume: 12000

Year Over Year Growth: 0%

Estimated Rental Price: $125 to $300 per day

Trenchers are tools that dig long, narrow trenches. They vary widely in size, from walk-behind models to ride-on trenchers. They see wide use for creating drainage or dealing with roots.

Grow Your Business with Construction Rental Software

7. Paint Sprayer Rental

2023 Average Monthly Search Volume: 12000

2022 Average Monthly Search Volume: 5700

Year Over Year Growth: +111%

Estimated Rental Price: $40 to $100 per day

While brushes and rollers are effective for indoor use, a paint sprayer is ideal for large or outdoor applications, such as painting a backyard fence. Because it’s usually for one-time use, many homeowners will usually rent a sprayer rather than buy their own.

8. Mini-Excavator Rental

2023 Average Monthly Search Volume: 12000

2022 Average Monthly Search Volume: 9500

Year Over Year Growth: +111%

Estimated Rental Price: $200 to $500 per day

These miniature excavators are perfect for landscaping and other small projects, often rented out to homeowners trying to handle projects on their own. They generally range from 1 to 5 tons, providing a versatile range of options.

9. Auger Rental

2023 Average Monthly Search Volume: 11000

2022 Average Monthly Search Volume: 10000

Year Over Year Growth: +10%

Estimated Rental Price: $25 to $100 per day

Augers are important pieces of equipment for digging post holes or other narrow, medium-depth holes. They come in different blade widths, along with either two-person operation or trailer-mounted versions.

10. Sod Cutter Rental

2023 Average Monthly Search Volume: 11000

2022 Average Monthly Search Volume: 9400

Year Over Year Growth: +17%

Estimated Rental Price: $75 to $125 per day

Gas-powered sod cutters come in a variety of cutting widths and cutting depths, giving homeowners and contractors the power they need to easily cut through the sod to prepare a lawn for re-sodding.

11. Floor Sander Rental

2023 Average Monthly Search Volume: 10000

2022 Average Monthly Search Volume: 8600

Year Over Year Growth: +16%

Estimated Rental Price: $50 to $100 per day

Floor sanders are used in the refinishing of hardwood floors and other floor types, removing protective finish elements and smoothing the floor itself. There are different types for different flooring, and they are popular rental equipment during home improvements.

12. Backhoe Rental

2023 Average Monthly Search Volume: 10000

2022 Average Monthly Search Volume: 8700

Year Over Year Growth: +15%

Estimated Rental Price: $150 to $500 per day

Backhoe rentals are used for all kinds of small to midsize renovation and landscaping projects and are often rented out by contractors for individual jobs. Larger companies can need rentals for specific contracts or emergency jobs.

13. Excavator Rental

2023 Average Monthly Search Volume: 9300

2022 Average Monthly Search Volume: 9400

Year Over Year Growth: -1%

Estimated Rental Price: $225 to $750 per day

Excavators come in a wide range of sizes that are suitable for many different jobs. They’re an essential part of all kinds of industrial work, from working on pipes and cables to construction and foundation work.

Grow Your Business with Quipli’s Contrusction Rental Business Software

14. Log-Splitter Rental

2023 Average Monthly Search Volume: 9200

2022 Average Monthly Search Volume: 6300

Year Over Year Growth: +46%

Estimated Rental Price: $50 to $100 per day

Anywhere that firewood is widely used for heat, you’ll have plenty of log-splitter rentals. These are typically gas-powered hydraulic splitters that apply powerful force to split logs without the trouble of swinging an ax for hours on end.

15. Lift Rental

2023 Average Monthly Search Volume: 9000

2022 Average Monthly Search Volume: 11000

Year Over Year Growth: -18%

Estimated Rental Price: $100 to $400 per day

There are many different kinds of lifts out there for interior warehouse work, electrical line work, exterior repairs, and more. There are also many different types, ranging from articulated lifts to boom lifts and scissor lifts.

16. Ladder Rental

2023 Average Monthly Search Volume: 8300

2022 Average Monthly Search Volume: 7500

Year Over Year Growth: +11%

Estimated Rental Price: $20 to $50 per day

Many homeowners don’t need regular access to a ladder, or they might not feel the need to own a 32’ or 40’ ladder. In any case, this is a low entry-point equipment category that will get plenty of rentals.

17. Crane Rental

2023 Average Monthly Search Volume: 7800

2022 Average Monthly Search Volume: 4600

Year Over Year Growth: 70%

Estimated Rental Price: $200 to $1,000 per day

Crane rentals can vary widely in height, use, and size. These expensive pieces of equipment are rented out by construction companies and contractors for a wide variety of projects.

18. Boom Lift Rental

2023 Average Monthly Search Volume: 6600

2022 Average Monthly Search Volume: 6700

Year Over Year Growth: -1%

Estimated Rental Price: $250 to $400 per day

Boom lifts provide versatile reach and height for construction, cleaning, repairs, and landscaping. There are both articulating and telescoping boom lifts, along with bucket trucks or cherry pickers.

19. Concrete Mixer Rental

2023 Average Monthly Search Volume: 5700

2022 Average Monthly Search Volume: 6400

Year Over Year Growth: -11%

Estimated Rental Price: $40 to $200 per day

Concrete mixers can assist with projects such as creating a new walkway, building a backyard patio, or laying a small foundation. They come in several different sizes, and some are even portable which makes them an appealing rental for consumers and contractors.

20. Engine Hoist Rental

2023 Average Monthly Search Volume: 5500

2022 Average Monthly Search Volume: 5200

Year Over Year Growth: +6%

Estimated Rental Price: $30 to $40 per day

Engine hoists have limited function, but they’re capable of hoisting as much as 1,500 pounds. Rental businesses typically rent these out by the day, though it’s not uncommon to charge a flat weekly rate for projects like extended car repairs.

21. Chainsaw Rental

2023 Average Monthly Search Volume: 5200

2022 Average Monthly Search Volume: 4100

Year Over Year Growth: +27%

Estimated Rental Price: $70 to $90 per day

Chainsaws are invaluable for maintaining trees or clearing away fallen branches and debris. Rental costs can vary depending on the type of saw, blade length, and power type.

22. Lawn Mower Rental

2023 Average Monthly Search Volume: 4700

2022 Average Monthly Search Volume: 4100

Year Over Year Growth: +15%

Estimated Rental Price: $30 to $100 per day

Both push and ride-on mowers see plenty of rental traffic. While they have relatively low purchase prices for rentals, maintenance can be a concern, and the rental season will vary based on your region

23. Bucket Truck Rental

2023 Average Monthly Search Volume: 4200

2022 Average Monthly Search Volume: 4900

Year Over Year Growth: -15%

Estimated Rental Price: $650 to $950 per day

The Bucket Truck, also known as a Cherry Picker, is an essential tool for working on hard-to-reach areas common for installers & arborists.

24. Pallet Jack Rental

2023 Average Monthly Search Volume: 3900

2022 Average Monthly Search Volume: 4700

Year Over Year Growth: -17%

Estimated Rental Price: $40 to $50 per day

A pallet jack can be a helpful piece of equipment when moving, and many can handle loads in the thousands of pounds. They can be either electric or manual, and it’s worth noting that rental businesses can make more revenue off of electric models.

25. Bulldozer Rental

2023 Average Monthly Search Volume: 3100

2022 Average Monthly Search Volume: 3300

Year Over Year Growth: -0.6%

Estimated Rental Price: $300 to $1,000 per day

Larger equipment rental businesses can also rent bulldozers, the price of which will depend on the size of the machine. Some rental businesses can charge additional fees by delivering the equipment to the job site.

A Rental Platform for All Kinds of Equipment

No matter what your most rented piece of equipment is, Quipli provides an all-in-one system that combines an innovative inventory management and reservation system, equipment rental website template, POS, and built-in reporting you need to make running your business that much easier.

Bonus equipment rental idea! Explore our how to start a trailer rental business guide for more information.

Learn More About Quipli’s Construction Rental Software

Don’t Get Left in the Dust with Excel: 6 Reasons to Invest in a Rental Inventory Management Solution

Do you find yourself spending way too much time in the weeds with complicated excel sheets trying to manage your business? That time could be better utilized elsewhere so you can focus on what matters most: the customer experience and growing your business.

It’s time to move away from Excel and Google Sheets and invest in rental inventory management solutions.

Should I Use Excel for Inventory Management?

Many business owners who are just starting out use Excel or other spreadsheet programs like Google Sheets for various business management tasks, including:

  • Budgeting
  • Client invoicing
  • Inventory tracking
  • Time tracking

These tools are useful because they’re typically free, which makes them more accessible to new business owners with minimal budgets. But as your business grows, juggling several different Excel sheets becomes more cumbersome and less convenient.

This is especially true considering spreadsheet software like Excel and Google Sheets come with a bit of a learning curve, not to mention all the manual tweaking and customization required to make them work for your business.

At some point, Excel sheets simply don’t cut it when you need to manage constantly fluctuating items like inventory and financial statements.

When you reach this point in your business journey, it’s time to look into dedicated solutions for business management software to find a platform that meets the specific needs of your business: in this case, equipment rental.

6 Reasons to Invest in Rental Inventory Management Software

If you’re searching for a new business management software, you likely have your own reasons for wanting to invest in a new solution. Here are six common reasons business owners like you choose to invest in a comprehensive rental inventory management software solution.

1. Manually updating a series of spreadsheets takes a lot of time.

Imagine you’ve just rented out a piece of equipment.

First, you go into your inventory spreadsheet and mark it off. Then, you transition to your financials spreadsheet and put down the amount the customer paid (or agreed to pay).

Perhaps you have an accounts receivable spreadsheet, as well, where you have to make a note regarding any outstanding customer payments. Finally, you navigate to your CRM spreadsheet to note which customer rented what.

That’s already four different spreadsheets you’ve been forced to update manually.

With inventory management software, you can make all those changes in one place, and have them automatically communicated to relevant fields across the software.

2. Spreadsheets that need manual updates are prone to human error, raising your risk of potentially costly mistakes.

Not only does updating multiple spreadsheets take time, but it also leaves lots of room for human error since all of these changes are manual.

Excel isn’t exactly beginner-friendly. Unless every member of your staff knows what they’re doing and never makes mistakes, manual updates are bound to produce errors. And in many cases, mistakes in inventory or financial tracking can be quite costly.

While errors are a possibility anytime humans are involved in anything, the risk is decreased with inventory management software. That’s because the software does formulaic calculations behind the scenes, meaning you and your team can’t make mistakes.

3. Inventory management software provides a more streamlined, reliable way to keep your equipment in good condition.

Unless you have inventory management software, you’ll have to deal with another spreadsheet to track and make notes on the condition of your equipment. This includes any potential damage caused while the equipment was rented out.

With inventory management software, everything you need to know about a piece of equipment is displayed in one convenient place: whether it’s currently rented or not, who’s renting it, what condition it’s in, and when it’s due for repairs or maintenance.

4. Do you know where each piece of equipment in your inventory is at all times? This is a major challenge to handle manually with spreadsheets.

When tracking inventory through spreadsheets, you have to record what’s been rented, who rented it, what they’re using it for, how long they’ll have it, and when it’s due back, among other details. That’s a lot to keep track of.

With inventory management software, you can simply click on the piece of equipment you’re interested in and view its status, with no spreadsheet-hopping or back-and-forth required.

5. Inventory management solutions like Quipli create a seamless end-to-end customer experience that also integrates with your inventory management for accurate tracking.

Using inventory management solutions like Quipli, your customers will be able to locate your products and make reservations to rent the desired equipment. These reservations are communicated to the point of sale, which automatically updates rented equipment for accurate tracking.

This creates a quick, convenient, pain-free experience for your customer and makes life easier for you and your team.

6. Quipli is fine-tuned for gathering useful data — data you can turn into strategies to grow your rental business.

Quipli constantly gathers data behind the scenes while you perform your day-to-day operations. You can use this data at any time to make informed business decisions.

For example, you can pull data on what products are renting, which ones tend to sit longer than others, and which products may be due for replacement due to overuse, all without any tedious manual Excel reporting.

Learn How Equipped Saved 10 Hours a Month by Automating Inventory Management with Quipli

Read Our Case Study

When and Why Excel Falls Short for Managing Your Rental Business

Excel can be a useful tool at the beginning of your business journey. At a certain point, however, it no longer passes muster as an organizational aid.

Why Excel can be useful early in the game

Here are some of the reasons Excel is useful early on:

  • It’s free
  • It comes standard on many operating systems and devices
  • Most people have some experience with digital spreadsheets


These are all great attributes, but they’ll only serve you for so long.

Where Excel falls short every time

As great as Excel can be for tracking simple inventories and transactions, it falls short when it comes to certain aspects of inventory management. For example:

  • It can be a headache to make sure information is accessible to everyone who needs it
  • It requires manual input, increasing the margin for human error
  • It doesn’t update automatically
  • It doesn’t provide an at-a-glance overview

Remedying these issues is necessary to help you manage and scale your business.

When Is It Time to Switch to Software for Your Inventory Management?

You’ll know it’s time to switch to an intelligent software for your inventory management when:

  • You regularly have to audit the same errors in Excel tracking
  • You spend too much time on Excel and not enough time on other important areas of your business
  • You’re ready to level up and scale your rental business

If any of these circumstances apply to your business, it’s time to invest in inventory management software.

Upgrade to Quipli to Scale Your Rental Business

Inventory management doesn’t have to be difficult, at least not when you have access to tools like Quipli.

With Quipli, you get access to POS integrations, customer logins, website integrations, reservation management, inventory management, and critical data — all of which can help you grow your business.

Contact us to learn more or schedule a demo today.

Click here to learn more about quipli’s inventory management software

How Does Quipli’s Rental App Work?

Quipli’s equipment rental web app is a comprehensive solution for rental businesses. With website features and integrations, payment processing options, customer relationship features, and much more, Quipli has everything you need to manage your business and scale it to the next level.

How does it do all this? Here’s a detailed guide to Quipli’s many features and capabilities.

Create Your Online Rental Storefront

Quipli offers two options for setting up a customer-facing digital storefront: building your own through the platform itself or integrating Quipli into your current website.

Build Your Perfect Rental Website

With Quipli’s template, you can build a responsive, user-friendly rental website. Quipli is easy for beginners to learn and use, allowing business owners like you to build high-performing websites that meet the expectations of your customers

Quipli’s website builder is a sophisticated design tool tailored specifically to rental businesses. It allows you to list all of your products in a modern Ecommerce format so that users can easily select products based on what categories they are searching for. Here are just a few of its many useful features:

  • Cloud-based website builder allows you to work from anywhere rather than having software and programs downloaded onto your computer
  • No knowledge of coding required
  • The ability to either transfer in your own domain or purchase a new one through Quipli
  • Full editing capabilities for pages and product info
  • Product data imports that allow you to quickly upload all of your product information from a spreadsheet rather than manually creating each one
  • A fully-integrated checkout process that integrates with your POS system
    • Includes QR code functionality
    • Includes payment processing

Quipli’s website builder also allows you to establish a customer portal so repeat buyers can easily create their own accounts, and leverage cycle billing.

SEO, or search engine optimization, is important for ensuring that customers find your business. SEO determines where you rank on search engines and how often your site appears to consumers. The higher up you rank, the more customers in your area will see you. Given the prominence of Google search, getting this right or wrong can make or break your ability to win new business in your geography. Quipli has designed its platform for SEO out of the box (at a basic level). You can be rest assured that all of the basic elements of your SEO will be there without having to think about it. 

Last but certainly not least, Quipli’s website builder is responsive and 100% mobile-friendly. Most customers do their shopping on their phones, making this a critical feature.

Learn more about how to build your online storefront with quipli

Integrate Your Inventory Seamlessly with Quipli

If you already have a website for your business, Quipli can work for you too. You can seamlessly integrate Quipli into your existing site to take advantage of the streamlined checkout process, payment processing, and customer portal features.

Manage and Track Your Inventory

The Quipli equipment rental app lets you easily manage and track your rental inventory. Quipli comes with a robust inventory management system with many essential features, including:

  • Effortless renting
  • Inventory calendar
  • Location management
  • Product and category management
  • Product data importing
  • Reporting data

Quipli’s app is adaptable for either multi-location or single-location rental businesses. If you have many different types of products, Quipli allows you to create both rental categories and individual product items.

Another useful feature of Quipli’s app is the inventory calendar, which gives you a bird’s-eye view of the products you have available, out for rent, or due for return. This feature is essential for preventing double booking, which can result in awkward phone calls and costly corrections.

The inventory management software integrates fully with Quipli’s POS features so your customers can easily rent and pay for their desired equipment. The app even aggregates your data so you can disseminate info on your customers, product demand, and bestsellers.

learn more about managing your inventory with quipli

Manage Booking and Scheduling With Ease

Quipli’s equipment management app automatically pulls product availability information when booking and scheduling equipment rentals to prevent overbooking or double booking. The scheduling and booking features also integrate with Quipli’s POS system.

This feature also comes with an inventory calendar that helps you easily track what’s currently out and when certain equipment is due to be returned so you can plan future bookings. Gone are the days of analyzing a slew of spreadsheets before making a sale!

Make Double Booking a Thing of the Past

Double booking, or renting the same piece of equipment to two different customers within the same time frame, is a major issue that many rental companies run into when using manual systems for scheduling. With an integrated booking, scheduling and inventory management system, you won’t miss critical information like product availability when making a sale.

Additionally, when customers make rental reservations directly through your website, they won’t be able to book equipment that’s already rented. In other words, Quipli’s advanced inventory management capabilities make double booking impossible.

Learn About Quipli’s Booking & Scheduling Features

Unify Your Checkout Process with Quipli’s POS System

Quipli’s POS rental system enables omni-channel selling, which involves marketing your products online and engaging with customers directly. You can integrate your offline and online booking sales into a single, streamlined system to store all your financials and records in one place.

Quipli also integrates with Stripe, one of the leaders in digital payment processing. Many business owners and consumers use Stripe because of its secure, dependable functionality.

Quipli’s checkout process was designed to enhance the user experience, making it easy, intuitive, and hassle-free for customers to rent from you.

The customer profile functionality built into Quipli also makes it easy for repeat customers to store their information, such as payment info, addresses, and preferences. The customer profile has a dual function since it also serves as a data collection source.

What’s more, you can send digital invoices and receipts for paperless sales processes, allowing you to manage the accounts receivable aspect of your business while also reducing your organization’s ecological footprint.

find out more about quipli’s point of sale features

Keep Track of Financials with Quickbooks Integration

Quipli works with leading organizations to bring the best possible solutions to customers. For financial tracking, Quipli has developed an integration with Quickbooks, the global leader in accounting and bookkeeping software.

Quickbooks allows you to document and manage orders, invoicing, and taxes for stress-free financial tracking and reporting. With Quipli’s Quickbooks rental software integration, all of your systems will be integrated to allow full consistency between booking and your accounting.

Integrating Quickbooks

Integrating Quickbooks into Quipli is easy for the tech-savvy and tech-stunted alike. You can sync your customer and product information between the two platforms with a few clicks. Syncing Quickbooks and Quipli helps you and your team avoid potential mixups or mistakes.

Quickbooks is just one of the integration features Quipli offers. The platform can also integrate with the following:

  • Google Analytics
  • Google Maps
  • Stripe
  • Avalara

Quipli is the all-in-one solution you need to manage and scale your rental business.

Learn How Quipli’s Quickbooks Integration Works

Rent with (Cyber)Security

Data breaches grew by 68% from 2020 to 2021 and continue to grow each year.  Because Quipli is a cloud-based solution, as opposed to several competitors that rely on on-premise solutions, Quipli is a more flexible, more secure and more stable solution. Quipli has several servers in various state-of-the-art, highly secure facilities across the country which only helps to provide some of the best cybersecurity on the market.

Customer Service

At Quipli, we consider our customer service a core part of our app. We provide you with an onboarding team to get your business started off right. Quipli offers phone, email, chat and text support – if you need to contact us, we’re available. We also pride ourselves on our 5-minute response time that is available any time during our business hours.

The Best Equipment Rental App

With so many features, capabilities, and integrations, Quipli is without a doubt the best equipment rental app for rental businesses.

You can use Quipli on your desktop, laptop, or mobile device via the Quipli mobile app, making it possible to manage your business from your phone.

To make sure Quipli is right for you, schedule a demo with one of our expert representatives. They’ll give you an informative overview of the app and its features and answer any questions you may have about adapting Quipli to your needs.

Ready to grow? Book your free demo with QUipli

Unsure about the Options? Read our Software Comparison Guide

Construction Equipment Prices in 2022: How Much Does Equipment Cost?

The pandemic pushed prices of just about everything sky high. If you’re in construction, you watched as 2 x 4 prices went from about $2 to $6 or more. Equipment prices rose similarly. Thankfully prices are coming back down, though they aren’t quite down to pre-pandemic levels. This begs the question: if you’re in the market to buy, what kind of construction equipment prices can you expect?

The Most Popular Types of Construction Equipment

Here are the types of construction equipment we’ll be looking at:

  • Excavators
  • Backhoes
  • Bulldozers
  • Skid steer loaders
  • Wheel loaders
  • Concrete mixer trucks
  • Motor graders
  • Forklifts
  • Augurs
  • Sod Cutters
  • Floor sanders
  • Log splitters
  • Paint sprayers
  • Cranes
  • Bucket trucks

Remember that you may find outliers that are cheaper or more expensive than what we list here. The price ranges offered are meant to give you a reasonable expectation so you can budget accordingly. Learn about the most expensive construction equipment here. Note that maintenance costs can be high. 

How much does construction equipment cost? Let’s get into it.


Expect to spend between $100,000 and $500,000. Heavy machinery prices vary mostly based on the size and capability of the machine. For a large name-brand excavator with massive digging power, $500,000 is not out of the question.  


You’ll notice a wide price range, with small budget models at around $15,000 and heavier duty brand name backhoes inching close to the $100,000 mark. You may want to stick to brands that have ready parts availability and a wide network of support.


A 40-hp dozer could be as little as $30,000, while a 400-hp model could be as high as $200,000. Most bulldozers are around 130 hp and cost between $75,000 and $175,000, depending on brand and features.

Skid Steer Loaders

The ubiquitous Bobcat might be the most familiar skid steer loader, and you may have even heard someone call one a Bobcat despite it being from a different company. 

If you want a new skid steer loader, expect to pay $15,000 to $50,000 for the name brand with more power and features. Capacity also plays a large role in cost, with a 1,350-pound capacity loader costing near the low side of the price range, a 1,600-pound capacity loader in the middle, and a 2,200-pound loader occupying the top end.

Loader attachments can add up, too. Want to add a bucket? There’s a grand. Forklift forks? About $3,000. Want hydraulic actuated tools like hammers or backhoes? They can cost as much as the skid steer loader itself. 

Wheel Loaders

When discussing wheel loader prices, it’s important to remember that there’s a huge diversity of size and capability. These equipment pieces can come with around 100 hp and cost as little as $40,000. A 200-hp model will run over $100,000. 350  hp will cost up to 500,000. A 500-hp model will be as high as $1,000,000. The average price range for a wheel loader sized for most construction companies is between $100,000 and $200,000.

Concrete Mixer Trucks

Concrete is exceptionally heavy, and the mixer trucks that carry it are also. Your concrete mixer truck might weigh between 25,000 and 30,000 pounds. The size and weight of the truck directly impact how much concrete mix you can transport.

Expect to pay around $100,000 to $150,000 for a new model. Concrete mixing trucks might seem like a big investment, but they usually make up for it in profit for the owner.

Motor Graders

When it’s time to pave a road, parking lot, or any area of land that needs to be billiard table smooth, a motor grader is essential. For smaller, 130 hp to 180 hp graders, expect to pay between $200,000 and $300,000. Larger companies with big contracts for highways might need 250 hp or more, which will mean they’ll be spending $400,000 to $500,000. If you can get away with a compact grader with less than 100 hp, you could spend $100,000 and get a quality machine. 


If you want internal combustion, expect to pay $20,000 to $50,000. For an electric forklift, the cost is about the same, but you’ll need to spend about $2,500 to $5,000 for a battery and charger. More capacity equals more cost, so determine how much your forks will need to lift before you buy. Accidents happen, too, so don’t forget to ask about warranties and protection plans.

Sod Cutters

You could spend as little as $35 for a handheld electric sod cutter or as much as $1,200 for a gas-powered version with wheels. If your company is constantly landscaping, you will probably be best served by a larger gas-powered model that can do the job in a fraction of the time.

Floor Sanders

Making hardwood shine is a floor sander’s job. That shine comes at a cost, though, because floor sanders can cost $1,500, $2,500, and more.

Log Splitters

An ax can only take you so far. The average cost of a gas-powered log splitter is $1,000. There are cheaper manual versions for a few hundred dollars, but those work best if you don’t have a lot of logs to split. The high end of the range is about $7,500.

Paint Sprayers

Paint sprayers make the job of painting faster, more consistent, and give professional results. It’s worth spending between $50 and $300. Lower-priced models may be battery or plug powered, while the finer models will run off compressed air.


Here’s another piece of equipment with a massive variety of sizes. A truck-mounted crane, low-end all-terrain crane, or rough terrain crane might cost about $100,000. Size increases bring price increases, and the largest examples can exceed $1,000,000. Crawler cranes are in a league of their own and can cost between $2,000,000 and $5,000,000. That’s the cost of heavy equipment.

Bucket Trucks

For sign maintenance, line service, and landscaping, a good bucket truck is a must-have. Low-end light-duty examples might be only $37,000, while higher-quality light-duty trucks could run as much as $140,000. The size, sturdiness, and features depend on the type of work you do.

Of Course, You Can Always Rent Thanks to Quipli

Discover additional construction equipment rental business ideas to improve revenue or take a look ahead at the construction equipment rental market with Quipli. Quipli is making equipment rental easier than ever.

Quipli is dramatically improving the process by making rentals as easy as an Amazon purchase. Our rental ecommerce platform embeds directly into existing websites which means its never been easier to create a business plan for a construction company or start your own generator rental business, and lets customers do the entire rental transaction online.

Ready to streamline your rental business operations with powerful, dedicated rental software? Contact us today to book your demo, and find out more about how Quipli can help you take your business to the next level!

Learn About Quipli’s Construction Equipment rental Software

How Much Does an Excavator Cost?

Excavators are a major workhorse at construction sites and in the landscaping industry. Just as an excavator can make a solid investment for any construction company, buying an excavator for your equipment rental business can provide a solid rate of return.

How much does an excavator cost, exactly? The answer depends on a number of factors. Here’s what you can expect when you’re in the market for an excavator.

How Much Does an Excavator Cost?

The cost of excavator equipment depends on several factors, such as:

  • Age
  • Condition (if used)
  • Number of hours used
  • Size
  • Features and specifications
  • Model/brand

As you might expect, some machines are pricier than others.

Different brands can also represent greater levels of value. If you’re purchasing an excavator for your equipment rental business, a brand name can give you greater credibility but may increase the cost of purchase and maintenance.

Typical Excavator Price Ranges

How much is an excavator when buying brand-new? The price range can be anywhere from $100,000 to $500,000, depending on the aforementioned factors.

Some of the most popular brands (such as John Deere, Komatsu, and Caterpillar) can run to the higher end of the price spectrum, though they offer superior quality and value compared to other manufacturers.

The Lowest Costs You’ll Find for Excavators

The least expensive excavators are mini-excavators. Brand-new, these machines start at around $75,000. Used models can cost around $50,000 or even less. Full-sized excavators tend to be much more expensive, though used models will always offer a more affordable option.

How Much Does a Brand-New Excavator Cost?

A new excavator from the factory can cost anywhere from $80,000 to $500,000. The final price is dictated by factors like the brand, model, size, and specific features of the machinery itself. For instance, extra buckets and attachments can easily add between $5,000 and $10,000 to the final cost.

How much are excavators when you buy used? Used excavators typically sell for about 25% of the original price, which naturally makes these an affordable option for certain types of operators and business owners.

With such a steep discount, what are the advantages of buying a new excavator? Generally, a brand-new machine will offer benefits like:

  • The full manufacturer’s warranty
  • Better overall condition
  • Less chance of requiring maintenance
  • Access to the latest features and specifications

However, there are also some disadvantages to buying a new model, such as:

  • Higher upfront cost
  • Delayed production schedules
  • Unnecessary or redundant features
  • Fewer product reviews to inform your buying decision

The main advantage of a used excavator is the money you’ll save, which can be a good option for users who only need an excavator for a short period. The flip side is that used excavators often require more frequent service, and depending on the age and condition of the machine itself, they may not perform at the same level as newer models.

Professional rental companies might consider investing in a new excavator, as this will ensure the longest lifespan of the equipment itself and guarantee a higher rate of return. The added cost might even be factored into the price of the rental agreement, allowing you to balance the performance of a new machine with the added costs of a brand-new model.

How Much Does a Large Excavator Cost?

Standard-sized and large excavators can weigh anywhere from ten to 45 tons. Brand-new, these machines cost between $200,000 and $600,000, on average, while used models can run as low as $50,000.

This is where the brand can make a dramatic difference. A new Caterpillar or Komatsu machine will likely be priced higher than competitors’ models, though they also offer advanced features to add value to their products. 

How Much Does a Small Excavator Cost?

Compact or mini-excavators typically weigh less than six tons. A mini-excavator can be slightly larger but generally won’t exceed ten tons. Small excavators often start at around $75,000 for a new model. Used mini-excavators can be considerably cheaper — it’s not unusual to see used excavators for sale in the $10,000-$20,000 range, depending on brand and condition.

Which Excavator Is Right for You?

Choosing the right excavator is an important decision. Explore our guide on what to look for when buying an excavator to get more information.

If you’re an equipment operator, you’ll want to select a model that has the features you need for the type of work you do, whether it’s construction, landscaping, or other projects. Likewise, equipment rental companies should invest in tools that offer versatility and value, ensuring a high rate of return.

Equipment Rental Insurance: What It Is & Why You Need It

Equipment rental insurance is a form of insurance that you can get if you rent out equipment to customers. It’s instrumental in helping avoid costly losses and downtime for your rental business.

Equipment coverage can insure large pieces, such as excavators, as well as the tools and inventory you rent out, such as post-hole diggers.

What Is Rental Equipment Insurance?

Insurance for rental equipment covers the items you rent out, such as tools, equipment, and other inventory. Rental business insurance can be bought to cover any kind of equipment. 

Having rental equipment insurance coverage will protect you in case something happens to your equipment, such as theft or a major accident. There are also other options for your business that’ll cover you beyond just lost equipment. 

When it comes to rental equipment insurance, you’ll also have policy specifics depending on the equipment you rent out. If you offer heavy equipment, your insurance policy may assume that you’re renting to individuals or companies that are insured and licensed.

There may also be limits on how long you can rent out equipment, as the longer the rental period, the greater the likelihood of damage or loss. You can help protect yourself with proper insurance coverage and the rental contract you use, which can stipulate renters liability insurance for your customers.

Types of Rental Insurance

Equipment rental business insurance is available for various types of equipment. There are different coverage options and plans based on the equipment you rent out.

Naturally, rental insurance will vary by business. For instance, insurance types and coverage options will be different for a party rental business than for a golf cart rental business. Heavy equipment rental insurance will have different options as well.

Here are some key types of insurance for equipment rentals that you’ll likely encounter on the market. 

Floater Coverage 

Also known as inland marine coverage, floater coverage is a type of add-on coverage that covers rental properties not covered by other policies. This includes property you rent from others as well as newly acquired rental equipment. 

Commercial Property Coverage

Commercial property coverage is a broad category of insurance that, in some cases, covers the things you own and use as part of your business along with your company’s physical premises and related real estate. This could include office furniture, computers, and non-rented equipment and appliances.

Commercial property coverage covers rental businesses in the event of damage or loss, such as employee theft. 

Commercial Auto Coverage

Commercial auto coverage is for the vehicles you own and use as part of your business, such as delivery vehicles. This will cover vehicles you rent, lease, borrow, or own. 

Umbrella Coverage

Umbrella and excess coverage will protect you if a claim goes beyond its limits. For example, if you have a major liability claim from a lawsuit, umbrella coverage will kick in if the claim exceeds the limits of the primary general liability policy.

Other Coverage Options

There are also other specialized insurance services offered to rental businesses, such as business income coverage. Business income coverage covers lost income if the business can’t conduct business due to a covered event. 

For example, business income coverage for off-premises utility services will replace business income if they can’t conduct business due to unexpected utility interruptions. 

Another common example is property-in-transit coverage, which will cover your rental property if it’s damaged during shipment. 

What Does a Basic Equipment Insurance Policy Cover?

There are two main types of rental equipment insurance coverage: covered property and replacement cost. Covered property covers anything you rent out, while replacement cost coverage is for equipment that must be replaced. 

Good basic equipment insurance should include broad coverage, protecting such things as lost or stolen equipment, equipment damaged due to misuse or weather, and cleanup for covered incidents. 

Covered Property

Covered property is coverage for pretty much anything you rent out. For example, covered property coverage would cover flatware, serving utensils, and party supplies for a wedding rental company.

Other items that would fall under the heading of covered property include wood chippers for a lawn equipment rental business and video recording equipment for a media rental company.

Replacement Cost

Replacement cost coverage is for equipment that becomes irreparably damaged or lost. Replacing such equipment can be costly. This coverage can ease the financial burden by providing some or all of the money required for replacement. 

General Liability Insurance for Equipment Rental Businesses

Insurance for equipment rental generally includes covered property and replacement cost coverage, but you’ll also need general liability insurance to protect you beyond rental-specific issues. General liability coverage will protect you from lawsuits customers file against you. 

Lawsuits can arise for a variety of reasons. For example, a client that’s injured while using equipment they rented from you may file a lawsuit to cover their injuries and distress. Similarly, a property owner might sue you if a piece of equipment you rented out to them accidentally destroys a building. General liability insurance can help protect your business from having to use valuable resources to fight such lawsuits. 

General liability coverage can protect your business against lawsuits, damages, and lost equipment. But it can also protect against negligence, slander, errors and omissions, and contractual liability. 

The risks of owning a rental equipment business are unique and diverse, but good insurance can greatly hedge many of them. As mentioned, a good rental contract can also protect your business from loss.

It helps to know what your insurance covers and what it doesn’t.

For example, what happens if a customer simply doesn’t return the equipment they rented? What happens if they lend out the equipment to someone else and that person damages your equipment or injures someone? These are the kinds of questions you’ll want to think through and address with your insurance agent.

Make Rentals Easy With the Right Partner

The less you have to worry about as an equipment rental business owner, the better. Proper insurance coverage can ease your mind regarding what might happen to your equipment when it’s in customers’ hands.

Another way to reduce your business-related stress is a proper rental inventory management system. Quipli offers a platform that does the hard work of managing your rental inventory for you. Contact us today to get a demo.

Need help evaluating your equipment value? Here are two handy guides: New and used equipment values and how to value a rental business.

Learn About Quipli’s rental Software

The Construction Equipment Rental Market: 2022 Industry Statistics

The construction equipment rental market is expected to continue growing despite economic uncertainty.

Currently, the industry does face challenges like higher raw material prices, rising interest rates, and an overall lack of skilled workers. This uncertainty has proven to be a net positive for equipment rental companies and the growth of demand for rental construction equipment. 

The rising cost of purchasing equipment will also push even more construction companies to consider renting.

Renting allows contractors to take advantage of the latest construction equipment technology without the high cost of ownership. 

Tech-focused machines that help improve efficiency for construction companies are expected to be a hot market for rentals, helping drive industry growth for the next several years.  

The Equipment Rental Industry Is Continuing to Grow

Strong growth is expected regardless of which equipment rental industry statistics you look at. 

For example, data published by the American Rental Association (ARA) shows the total revenue for the equipment rental industry (which includes construction/industrial and general tool rentals) is expected to hit $52.3 billion in 2022, growing by almost 10% from 2021.

The ARA also projects 5.5% growth in 2023, 2.5% in 2024, and 3.3% in 2025. 

Meanwhile, Market Data Centre (MDC) research shows that the total value of the construction equipment rental industry was $108.1 billion in 2021. MDC projects the industry to grow to $156.8 billion by 2030. 

From 2022 to 2027, MDC expects the industry to grow at a compound annual rate of 5.46%. 

Construction Equipment Rental Industry Statistics

According to research by Grand View Research, the size of the construction equipment rental market grew to $73.44 billion in 2021. That number is expected to grow by 3.9% annually through 2030 — hitting $105.29 billion in 2030.

This growth comes despite inflationary concerns and supply chain issues that have carried over since the pandemic. The uncertainty has led many contractors to delay major purchases in favor of renting. This tactic also allows such companies to decrease

The capital needed to start new projects. 

Construction contractors are also opting to rent equipment to help offset the rising prices of new equipment. More efficient machines, thanks to tech advancements, bring higher prices as well — another reason for the expected growth in the rental market. 

Earthmoving Equipment Has Had Significant Recent Growth

Fast growth in the earthmoving equipment segment has been a key construction equipment trend in recent years. It accounted for 50% of the market share for construction equipment rentals in 2021 and was responsible for over half of the industry’s growth. 

This segment of equipment rentals includes machines such as skid-steers, excavators, and backhoes. The increased use of such machines in mining and agriculture industries is driving the earthmoving equipment rental market. 

Bigger projects require more earthmoving machines. That’s in addition to continued growth in the residential and commercial construction industries.

Learn more about the most expensive construction equipment as well as the most popular equipment to rent

Material Handling Machinery

Material handling machinery equipment rental industry revenues are expected to grow at a compound annual rate of 4% through 2030. The demand for crawler cranes is driving this industry, with increased demand for material handling machines used in manufacturing and industrial construction. 

Again, bigger projects around the globe have increased the demand for material handling machines. 

Concrete and Road Construction Machinery

The concrete and road construction equipment segment is expected to see some of the best growth over the next decade, with a compound annual growth rate of 6.5% from 2022 to 2030. Total value of the industry is expected to hit $39.1 billion by 2030. 

This industry will be one of the biggest benefactors of increased road construction in the United States, as well as the increased adoption of road connectivity. Improved road infrastructure that promotes safety and causes fewer automobile fatalities will likely be a priority for federal spending. 

Key Growth Drivers for the Construction Equipment Rental Market 

Beyond the economic uncertainty and rising costs of construction equipment that will lead to more construction companies renting equipment versus buying, there are other growth drivers for the industry:

Infrastructure Spending

These key growth drivers include the Infrastructure Investment and Jobs Act (IIJA), which will boost federal spending on infrastructure. As well, the push toward net zero emissions by utility and energy companies will further drive construction in those areas.

The IIJA will include an investment of $110 billion in infrastructure improvements in the U.S. This includes spending on roads and bridges — notably improved road connectivity that will help improve commerce and trade. Increased road connectivity will also promote safer streets. 


Construction equipment fitted with the latest technology will be a key demand product for contractors. However, the high cost of these technology systems prohibits many smaller builders from being able to purchase them outright. Thus, rental opportunities for equipment that has new systems installed will be in high demand going forward. 

Such technology can improve the efficiency of construction projects and help cut costs. For example, a technology-enabled piece of equipment can relay key data to owners, such as GPS information, fuel consumption, and equipment idle time. 

With these benefits come big costs, making some solutions too expensive for many contractors — hence the increase in demand for rentals. 

Growing Benefits 

In addition to allowing builders and contractors access to equipment equipped with modern technology and easing the total cost of ownership, the roster of benefits provided by rental companies continues to grow. 

Rental companies are providing additional services to better serve customers, such as onsite support and greater investments in repairs and maintenance. These benefits come in addition to savings on inventory costs and initial cash outlays. 

Thinking About Getting into the Rental Market?

Quipli makes renting equipment easy for customers while making it simple to run an equipment rental business. Inventory management is presented in an easy-to-follow way with Quipli’s eCommerce platform. When it comes to managing orders and invoices, Quipli makes those tasks easy as well. 

Explore additional construction equipment rental business ideas to help solidify your construction equipment rental business plan with Quipli.

It’s all done right on the platform, making it an all-in-one tool. Utilize Quipli’s rental website builder to grow your business and find out more about how we can help your rental business by booking a Quipli demo.

Learn About Quipli’s Contruction Equipment rental Software

How to Rent Out Equipment – Your Step-By-Step Guide

Do you have construction equipment rental business ideas that you aren’t sure how to realize?

Starting your equipment rental business takes planning and execution. To find success, you must manage inventory, and market your business well.

To start your business on a great foundation, we share this step-by-step guide on how to rent out equipment.

Evaluating the Market

Whether you’re interested in starting a tool rental, or heavy equipment rental business, you need to know who your target customers are. What’s the most rented equipment type in your area? Is there a demand for equipment rentals? These are all important questions that you should find a definite answer to.

An important part of how to rent out equipment is choosing the right equipment type to cater to your local market. If your area doesn’t see much new construction but plenty of renovations, then you should focus on lighter tools instead of heavy equipment. Every local area is unique, and evaluating the specifics of the market is key to your success.

Pricing Your Rentals

Once you’ve determined what types of equipment are in demand in your area, you need to establish your rental business profitability. To do so, you’re going to have to decide what you’re going to charge for your rentals. This task can be more challenging than it might seem.

The primary factor behind your rates is going to be what the market is willing to pay. You can look at similar rentals in your local area (or the broader region) to find this out. If it’s cheaper somewhere else, then you won’t get much business. The other major factor in deciding your costs is going to be how much revenue you need to be profitable.

Determining Your Costs

Your revenue has to be weighed against the costs of running your business. If you’re renting out equipment for profit, you’re going to have a variety of expenses. First, there’s the capital investment of buying equipment to rent out. Depending on whether you’re going with general tools or heavy equipment, this can be a significant investment.

Property for your business is going to be another significant cost. You’ll need to rent some kind of property to serve as your storefront, equipment storage, and maintenance shop. Further costs can include wages as your business grows, utilities, insurance, maintenance, and more.

Acquiring Inventory

Once you have determined your potential revenues and costs and found that your tool rental business plan can be profitable, you can move forward with acquiring inventory. You want to ensure that you get quality equipment while keeping costs as low as possible.

In some cases, used equipment can be a viable option. It really depends on the specific type of equipment. If your equipment rental business will have large numbers of the same type of equipment, you can consider reaching out to mid-level distributors for better deals rather than relying on retail dealers.

Learn How Equipped Saved 10 Hours a Month by Automating Inventory Management with Quipli

Read Our Case Study

Insuring Your Business

Insurance is important for many businesses but absolutely essential for rental businesses. Your insurance will protect you in several circumstances. The first is when equipment is damaged, but liability can’t be placed on the customer. This insurance can really save your business a lot of money on equipment replacement costs.

Second, your insurance will protect your business from potential liability for improper use of your rented equipment. If a customer were to cause significant damage to a building or property with your equipment, you could find your business under fire at some point in the legal proceedings. Insurance can protect you from this scenario.

Establishing a Maintenance Routine

Once your business is in swing, and you’re starting to rent out your heavy equipment, you’ll have to settle into a regular maintenance routine to keep it running. Different types of equipment have unique maintenance requirements. Keeping up with them is essential to maintaining both your inventory and your reputation as a rental business.

Another key component of your maintenance plan will be ensuring that customer maintenance requirements are communicated clearly. Many types of heavy equipment have active maintenance requirements that need to be carried out during the course of a regular working day, and customers need to know what their responsibilities are.

Marketing Your Rental Business

With your business now running properly, it’s no time to get complacent. You should always be focused on growing your business and bringing in new customers. To do so, you’ll need an effective marketing strategy that targets your potential renters. There are plenty of different options that you can take advantage of.

You should have a website that includes search engine optimization so that it comes up higher in search rankings. Social media can also play a role and make your business easier to find. Don’t discount traditional marketing tactics like brochures, print ads, and flyers, either. You might even consider billboards or bus ads, depending on your area.

Writing a Proper Rental Equipment Agreement

It’s important to ensure that you’re properly protected while running your business. That’s why you have insurance, a proper rental equipment agreement,  and an equipment rental business license. Your rental contract establishes the roles and responsibilities of you and your customers, and it’s critical that you get it right.

A rental equipment agreement will protect you from costs due to negligent use of equipment by your renters. It also serves as an essential record of rental rates and schedules. You can check out our convenient rental agreement template to make sure you’re covering all of your bases.

Start Your Rental Equipment Business Right with Quipli

With so much planning and commitment going into your equipment rental business, you should implement the best possible inventory and reservation management system.

Quipli provides rental businesses with an easy-to-use and versatile solution that integrates your inventory with online reservations, along with other benefits. You can reach out to our team today to book a demo and find out what Quipli can do for your equipment rental business.


How to Improve Your Tool Business Profitability

How to Improve Your Tool Business Profitability

Are construction equipment rentals a profitable business? Well, they certainly can be. The key is to make sure that you have an effective rental business plan in place for improving the profitability of your business. With these actionable steps, you can start your new company off right or revolutionize how you run your established business.

1. Study Your Equipment Rentals Target Market

Among the most important aspects of starting any business is defining who your target market is. You need to know who you’re going to be renting to so that you can get the right inventory and apply the right marketing strategies.

For some of the top equipment rentals, this mostly revolves around the scale of the equipment you’re renting out. Are you going to be renting excavators to contractors or tile saws to homeowners? Keeping your inventory focused on a specific niche can help make your business more profitable.

2. Know How to Price Your Tools to Be Profitable

Pricing is one of the most challenging tasks when it comes to establishing your tool rental business. For the most part, you’re going to have to make sure your prices are in line with your competitors’. If you’re charging more, your customers will likely go elsewhere.

However, make sure that the tools you invest in can be profitable at the rental rates you can charge. You can use our equipment rental calculator when developing your tool rental business plan PDF to get a more accurate view of your potential profitability.

3. Develop an Effective Tool Rental Business Website

Your tool rental business model should include having an effective website in place for your business. Many people today prefer to seek out information about companies online. Having a good website makes you easier to find, especially if you take the time to focus on improving your search engine rankings.

If you don’t have a website, you should get one now. Find a good website builder that has the eCommerce functionality you need. Quipli provides a website builder along with our integrated inventory and reservation software, making it easy for your customers to reserve rentals online.

4. Grow and Scale Your Tool Rental Business Through Digital Marketing

Digital marketing is among the most effective tools for how to grow an equipment rental business. While most rental companies can still benefit from conventional marketing like billboards, newspaper ads, and radio ads, digital marketing isn’t optional anymore. It’s a necessary part of your marketing strategy and can focus on areas like:

Search Engine Optimization (SEO)

Your website doesn’t just cater to customers but to search engines, as well. Using the right keywords and metadata can increase your rankings and get you more visitors.

Pay-Per-Click (PPC)

Along with organic growth, search engines and social media give you the option to pay for advertisements. Google, Facebook, and other platforms have a simple model where you pay based on how many users click on your ads.

Social Media 

Facebook, Instagram, YouTube, Twitter, and more are simple ways to get information about your business to your customers. Each one serves as one more potential entry point for customers to find your website.

Many strategies can be used to improve your digital marketing. It’s important to keep track of the analytics that advertising and social media platforms provide. That way, you can find out what works and what doesn’t when it comes to driving customers to your business.

5. Keep Investing in New or Used Equipment

You can make your tool rental business profitable by scaling up your inventory. With more equipment to offer, you’ll be making more money while some costs stay constant. That translates to more profit at the end of the year.

Both new and used equipment can be great ways to reinvest money into your business. Determining whether new or used is the best deal varies between specific types of equipment. Keep in mind when investing in new equipment that your existing equipment will need to be replaced at some point.

6. Maintain Quality Working Construction Tools

Like in any other business, the quality of the goods or services you provide for your customers is paramount. You need to ensure that every customer is receiving working, well-maintained equipment.

This will help drive more business based on your reputation. Keeping up with maintenance also makes your equipment last longer, reducing replacement equipment acquisition costs and improving margins.

7. Have Proper Tool Insurance and Liability Waivers

Not having the right insurance and liability waivers can cut into your tool rental profitability when you end up having to pay for damages that would have been otherwise covered. Damages can extend beyond the cost of replacing tools, so you need to make sure that your business is thoroughly protected.

Insurance is one area you want to have clearly defined in your tool rental business plan. The prices you’ll pay will vary depending on whether you’re renting full-scale construction equipment or smaller home-improvement or landscaping tools. Typical rates range from $500 to $1,500 annually per $1,000,000 in liability protection.

8. Focus on Customer Service and Repeat Business

Customer acquisition costs can be steep and are a major factor in answering the question, “Are tool rentals a profitable business?” You want to maximize the value from each customer, and that means doing everything you can to drive repeat business. 

You can improve customer retention by:

  • Having clear communication to avoid disappointment
  • Offering customer-loyalty discounts for high-volume clients
  • Making sure your tools are provided in great condition

The value of repeat customers shouldn’t be underestimated, so you can always do a bit more to make sure they’re coming back.

9. Invest in Tool Rental Software

No matter what kind of business you run, you need the right tools for the job. When it comes to equipment rentals, you need the right software to manage your inventory and reservations. This lets you stay organized and provides you with clear and accurate data so you can understand how your business is doing.

Quipli has the rental business software you need to improve your profitability. With a fully integrated reservation and inventory system, you can rest easy knowing that your rentals are properly managed. You can contact Quipli today to book a demo and find out more.