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

Module 1: Rental is Vital to Distribution - Part 3

Video Transcription

Video Summary

In the 1980s, rental companies experienced growth as customers were attracted to the convenience, terms, and lower capital risk of renting equipment. This led to the emergence of new rental companies and equipment dealers also entering the rental business. Consolidation in the industry began in the 90s, with companies buying out smaller rental businesses to create larger buying groups and gain better pricing from manufacturers. This trend continued into the 2000s, with more mergers and acquisitions. The rental industry has become more professional, with increased focus on logistics, finance, and asset management. The industry is projected to continue growing at a rate of 5-8% per year. Manufacturers have had to develop rental strategies to cater to the demands and expectations of customers. The availability of financing options and the expansion of rental fleets have provided customers with more choices.

Keywords

rental companies

growth

convenience

consolidation

professional