Rental Strategy, Business Models, and Operations: Common Dealer Practices (SDC)-Session Recording

Video Transcription

Video Summary

The video transcript is from a session at the AED Small Dealer Conference. The session discussed the importance of strategy and benchmarking in the rental business. It mentioned that rentals have become an integral part of many dealers' strategies and highlighted the need for intentional allocation of resources to rentals. The session also discussed the different business models in the rental business, such as rent-to-sell and rent-to-rent, and the characteristics and financial results associated with each. It emphasized the importance of managing rental operations with robust processes and measuring key metrics such as utilization and gross margin. The session concluded with recommendations for dealers, including the need for strong leadership in the rental business, investment in technology to track and manage rentals, and the importance of benchmarking and continuous improvement.

Keywords

strategy

benchmarking

rental business

resource allocation

business models

rent-to-sell

rent-to-rent

rental operations

utilization

gross margin