Rental Management 101: Introduction to Rental-Workbook

Workbook

Pdf Summary

The document is a participant workbook for a course called "Rental 101: Introduction to Rental." The course is aimed at equipping learners with a baseline understanding of the rental industry and providing them with the necessary knowledge to compete in the rental market. The document is divided into several modules, including "Rental is a Distribution Channel," "Why Renting Makes Sense," "Dealers Need Rental," "Dealer Challenges - Rental Implementation," "Operational Processes," and "Starting a Rental Department."<br /><br />In the first module, learners are introduced to the rental industry and its growth over the years. They are also informed about the importance of incorporating rental into their dealership's strategic growth to maintain market share and increase revenue.<br /><br />Module 2 focuses on the reasons why renting makes sense for contractors and how rental companies are challenging traditional value-adds offered by equipment dealers. Learners are encouraged to research and identify the services offered by leading rental companies in North America.<br /><br />Module 3 discusses the need for rental departments in dealerships and the financial impact of rental on the overall profitability. It also highlights the differences between rent to sell and rent to rent business strategies.<br /><br />Module 4 addresses the challenges in implementing a rental department, including conflicts between sales and rental departments, as well as conflicts between rental and service departments.<br /><br />Module 5 emphasizes the importance of operational processes in running a successful rental department. Learners are encouraged to consider facility layout, recording information, and utilizing quality control measures.<br /><br />Module 6 provides guidance for starting a rental department, including defining company strategy, conducting customer surveys, reviewing dealership software, and maintaining proper legal documentation.<br /><br />Overall, the document provides learners with a comprehensive overview of the rental industry and guidelines for incorporating rental into their dealership operations.

Keywords

Rental 101

Introduction to Rental

rental industry

baseline understanding

compete in rental market

Dealers Need Rental

operational processes

starting a rental department

financial impact

dealership operations