Ashtead, Herc, & United Rentals: Equipment Rental Market Growth Prospects
Former CEO of Nickell Rental
inpractise.com/articles/ashtead-herc-uri-sunbelt-heavy-equipment-rental-market-growth-prospects
Ashtead, Herc, & United Rentals: Equipment Rental Market Growth Prospects(December 18, 2023)
Former CEO of Nickell Rental
The expert is the former CEO of Nickell Rental and Vice President of the Equipment Segment at the American Rental Association (ARA). He ran his equipment rental business for 14 years, achieving ~$7M in revenue and establishing 4 locations in the Atlanta area. Following the successful sale of his business to Sunbelt Rentals, he served in the company for approximately a year. He then transitioned to Point Rental Software in England as Director of Global Expansion & Operations, overseeing EMEA, APAC, and NCSA regions.
Interview Transcript
This is a snippet of the transcript, sign up to read more.
Apart from the pricing dynamic you just described, what other aspects do you think these companies handle poorly when it comes to the DIY customer?
They primarily operate through outside sales representatives who are usually heavily commissioned. If I have to choose between renting out a skid steer for a weekend or for a three-month contract to a contractor on a job site, even at a much lower rate, I would consider which one impacts my paycheck more. Which one contributes more to the store's bottom line? Which one helps us achieve our goals? It's difficult to cater to short-term, smaller rentals, and smaller contract values when there are attractive large job sites and big customers. You'd prefer to cater to the large job site, rather than the weekend warrior or the landscape contractor who only does $5,000 a year with you and is sometimes slow to pay because they handle their own billing. You'd rather have the plumber who does $250,000 a year with you. So, it's not that they don't want to serve smaller customers, it's just that they're a secondary priority to a broker company like that.
This is a snippet of the transcript, sign up to read more.
Related Content
Sunbelt vs United: the Nature of Equipment Rental Competition
Former CEO of Nickell Rental
Herc Rentals, Sunbelt, & United Rentals Competition
Former Branch Manager at HERC Rentals
Sunbelt, United and Herc Rentals: Customer Perspective
Current Fleet Equipment Manager at Ajax Paving
EquipmentShare: T3 Platform & Branch Operations
Former Branch Manager at EquipmentShare
Copyright Notice
This document may not be reproduced, distributed, or transmitted in any form or by any means including resale of any part, unauthorised distribution to a third party or other electronic methods, without the prior written permission of IP 1 Ltd.
IP 1 Ltd, trading as In Practise (herein referred to as "IP") is a company registered in England and Wales and is not a registered investment advisor or broker-dealer, and is not licensed nor qualified to provide investment advice.
In Practise reserves all copyright, intellectual and other property rights in the Content. The information published in this transcript (“Content”) is for information purposes only and should not be used as the sole basis for making any investment decision. Information provided by IP is to be used as an educational tool and nothing in this Content shall be construed as an offer, recommendation or solicitation regarding any financial product, service or management of investments or securities. The views of the executive expressed in the Content are those of the expert and they are not endorsed by, nor do they represent the opinion of In Practise. In Practise makes no representations and accepts no liability for the Content or for any errors, omissions, or inaccuracies will in no way be held liable for any potential or actual violations of laws, including without limitation any securities laws, based on Information sent to you by In Practise.
© 2024 IP 1 Ltd. All rights reserved.