Rental Management 101: Introduction to Rental-Module 1: Rental is Vital to Distribution

Video Transcription

Video Summary

Equipment dealers and rental stores have distinct characteristics that set them apart in the industry. Equipment dealers typically have factory trained technicians and focus on gross profit margin and machine population. They prioritize providing spare parts and service, as well as warranty support on behalf of the manufacturer. Their business hours and customer base are often protected within a specific territory. Rental stores, on the other hand, prioritize customer service and satisfaction, adapting their offerings to meet their customers' needs. They are not brand sensitive and can select the best products for their customers. Rental stores often operate in cheaper facilities and have faster response times compared to equipment dealers. They focus on cash flow and fleet utilization rather than gross profit margin. Rental stores also have a more relational approach to their customers and can be more flexible in terms of territory. National rental companies have further increased the leverage of rental stores in the market. Overall, rental companies prioritize convenience and responsiveness to cater to their customers' needs.

Keywords

equipment dealers

rental stores

distinct characteristics

customer service

convenience