Taking Advantage of the New Normal
2020 and 2021 have been years for the books. But the impacts that COVID has had will not go away anytime soon. In fact, there are many “new norms” that have taken root—many within the equipment industry. The rise in demand for heavy machinery is being felt by the rise in demand for rental equipment.
This session will help teach dealerships how to optimize this lasting impact and charter into the untapped potential of rental. It will help explain:
- The evolution of the equipment consumer and who the equipment renter is
- How to add rental to your dealership offerings, including how to manage rental
- How to maintain the rental fleet
- How to calculate profitability
- The best marketing practices for optimizing rental income
Aligning Dealership Resources to Maximize Rental Profits
Rental fleets continue to grow as dealers try and keep up with market demand. There are significant challenges when a legacy sales and service business grows a rental department and resources are not aligned correctly. Imagine an auto dealership and a rental car company trying to operate out of the same facility and with the same infrastructure.
Profitability, operational efficiency, customer service and employee job satisfaction are all negatively impacted when there is not a strategic alignment of resources which include organizational structure, capital allocation, personnel, and the natural conflict between sales, service and the emerging rental department. This hard-hitting session will discuss proven strategies to better align your organization to maximize your ROI.
Rental Process Improvement: Driving Efficiency and Profitability
Operating an equipment dealership is a labor-intensive business, especially when talking about managing a growing rental fleet. Technology should be considered your most strategic investment, especially in light of shortages in manpower and industry experience.
Efficiency drives fleet utilization, which drives profitability, and should be a major focus of your rental department. This means virtually every movement of your fleet and internal workflow should have visibility within your computer system. Efficiency also includes aggregating data from operations (non-fleet data) in such a manner that management can make timely and informed decisions. This session will focus on process improvement opportunities that impact profit and customer satisfaction.
Before You Sign: Things to Consider When Entering into Equipment Purchase & Sale Agreements
James Waite Law
This informative session will cover the absolute “no-no’s,” “must-have’s” and greatest (and saddest) mistakes dealerships have made with purchase and/or sale agreements. You will laugh (because you didn’t make those mistakes), you will cry (because you have made those mistakes), and you will walk away better prepared to enter into your next deal.
Claims Management for Rental Equipment
JT Bates Group
In this session, attendees will learn how to manage insurance claims for the rental fleet in a way that keeps premiums low and protects the equipment from damage. Using simple solutions and expert advice, rental managers, CFOs, claims managers, and anyone else dedicated to the success of a rental program will learn how to better manage claims in order to make rental more profitable.