Welcome, everyone, to another professional education program sponsored by the AED Foundation. This presentation is course two of a three-course series aimed at building competency in rental knowledge, operational skills, and management of rental operations within an equipment dealership. Some of you may have recently completed course one, which is the foundational course for this series. That course focused primarily on the understanding of a changing marketplace and how distribution is becoming more and more dependent upon equipment rental. Rental course one also looked at the profitability aspects of rental and why equipment dealers need to be more engaged in rental and strategic about how they enter the market. Course two will focus attention towards the key elements in establishing a profitable rental department within the dealership. As with most other business types, the key elements can be reduced down to people, process, and products. With people, process, and products as our objective, let's take a look at some of the detail that we expect to get out of this course. Number one, we need to know the staffing requirements for a successful rental department. You need to know what the key positions are, the roles and responsibilities. Number two, you need to know the processes within a rental department that must be monitored to drive efficiency and profitability. You need to understand the importance that machine mix has in creating a profitable rental fleet and understanding the importance of having a well-designed loss and damage waiver product to offer your customers. You need to know and understand a marketing process that enables you to target your rental services to just the right customers and attract their business.

rental knowledge

operational skills

equipment dealership

profitable rental department

targeted marketing strategies