Rental is an interesting area to examine from a strategic point of view. Let’s look at rental growth in the last 20 years. In 1987, did you consciously make the decision to enter into the rental market? Consciously make the decision to commit a certain amount of funds to rental? Did you establish specific financial benchmarks for rental operations and continuously monitor progress against those goals to adapt, change, and improve? Or, did you get into the rental business as a reaction to certain factors?
What we’ve seen as a consulting firm is that most heavy equipment dealers are in rental not due to established strategic focus, but as a reaction to certain situational drivers.
Want to read more? Click to download the full article Financial Benchmarks to Drive Rental Profitabilityin PDF format.