Rental Fleet Financial Management-Rental Fleet Financial Management : Rental Fleet Financial Management

Rental Fleet Financial Management : Rental Fleet Financial Management

Video Transcription

Video Summary

In this video, the presenter discusses the importance of financial management in rental operations. He explains that driving revenue in a rental operation involves factors such as rental rates, rental periods, and fleet mix. He provides examples of different equipment categories and discusses their earning potential based on their rental rates and time utilization.<br /><br />The presenter emphasizes the importance of measuring financial utilization, which compares rental revenue to the original cost of equipment. He suggests a target range of 40% to 50% financial utilization for a rental fleet. He also highlights the importance of fleet utilization, which measures the percentage of fleet value that is out on rent.<br /><br />The presenter discusses various internal and external factors that can impact financial utilization, including marketing, employee compensation, service processes, competition, customer sophistication, and brand preference. He recommends tracking rental opportunities, using exception reporting, and analyzing different performance metrics to improve financial management.<br /><br />Overall, the video provides insights into how to drive revenue and improve financial management in rental operations.

Keywords

financial management

rental operations

revenue

rental rates

rental periods

fleet mix

financial utilization

fleet utilization

equipment categories