Experts have recently predicted that dealers can expect rental industry trends that lead to larger increases in revenue across the board than previously forecasted! The American Rental Association (ARA) posits that their latest five-year review points to a high likelihood of the rental industry continuing to flourish through the year 2022. In fact, they even… Read more »
Interested in learning how to make more money without changing anything how and what you service? Try selling while You service. One business owner who successfully applied this strategy in practical ways reportedly saw an increase of over $600,000 in yearly revenue. And while this example business is focused on precision Ag services, the lessons… Read more »
The Outdoor Power Equipment industry has been taken over by a formidable opponent: Amazon. The all-encompassing online marketplace has earned an estimated $2 billion in U.S. sales, causing even loyal, long term clients to consider switching over. To make matters worse, their stake in the lawn and garden market doesn’t seem to be slowing down… Read more »
One of the biggest mistakes most businesses make is neglecting to use the data that a dealer management solution can have readily available to them. It’s such a large issue that research companies report 74% of marketers and business owners have no idea how their efforts are impacting their sales. Having that data can help… Read more »
Happy customers equal successful businesses. Here are some ideas, tips, and suggestions for how to keep a smile on every client’s face:
Business owners are rapidly catching on to the fact that data is the key to success in today’s rental market. The process of assessing past, present, and future positioning requires facts specific to your unique history. Without this information, effective decision-making is close to impossible. Determining achievable goals then relies on benchmarking for dealers.
Having the right dealer management tools in place can help you stay competitive in this ever-changing market. When dealing with new regulations that highly impact business operations (such as lease terms, maintenance provisions, and the frequency of required audits), acquiring or improving your business management system becomes paramount to success. Dealerships should use these tools… Read more »
In their new book, Budgeting for Profit and Cash, frequent Rental Show speakers Steve Abercrombie and Barbara Nuss, CPA write, “Many growing and profitable rental businesses have failed because there wasn’t enough cash to pay the bills”. Are you the exception? Luckily for us, Abercrombie and Nuss have provided some suggestions for managing growth that… Read more »
The day-to-day operations of receiving and shelving inventory are the lifeblood of successful dealerships. These operations are made up of a series of sequential tasks. Besides keeping things organized, managing these procedures well can create a seamless experience for both customers and employees. The key to managing sequential tasks is having a willingness to adapt… Read more »
It’s official–EMV chip cards have flooded the credit card industry. According to Visa, a whopping 97% of overall U.S payment volume in March 2018 was on EMV Cards.