200000-400000 7% 2%
Franschise DetailsAB, BC, MB, NB, NL, NW, NS, NU, ON, PE, SK, YT 5 2016 yes
The Rental GuysRecognizing the Opportunity
The opportunity that TheRentalGuys.Ca/HardHatRentals.Com is presenting is a business model that has great recurring revenue, builds assets within the business on a continuing basis all while having a lower overhead cost than other business models. We have two very separate customer bases (contractors as well as homeowners) and are able to provide multiple products and services to both groups. You are able to start this business with no employees other than yourself, which can relieve a lot of pressure off yourself and your new business in your first few months. Because we have just started releasing territories across North America we have prime territories available in every major urban center.
Creating the Solution
As a contractor renting equipment on a regular basis, Chris recognized the problems with the rental industry better than anyone. He knew that creating solutions to these problems would not be easy and would only be possible by looking at the industry in new ways. The breakthrough moment came when he applied the latest online tools and custom software to the rental process.
The first breakthrough came in the form of online 24/7 booking for customers; contractors and homeowners alike loved this feature because it allowed them to complete their booking at the time that worked best for them even if it was outside of regular business hours. The next big step was having customers pay for their rental at the time of booking. This would alleviate a lot of the administrative work that was being done in an office. It also had the effect of getting rid of any receivables, thus improving cash flow.
Next was inventory control. Again, looking at this problem from the outside in, he realized that not only would he need to know what equipment was available when, but this would also be very valuable information for his customers (also this would help with all of the phone calls from customers wanting to know if something was available) so he added online availability calendars to all of the equipment. At this point, from the customer’s point of view, everything was looking great. But he didn’t stop there. He added a host of back end tools to help with planning deliveries and pickups as well as keeping a close eye on sales and equipment utilization. A full redesign of TheRentalGuys.Ca/HardHatRentals.Com website completed this solution.
Why Start an Equipment Rental Franchise?
Invest your money into real assets (your own fleet of rental equipment) vs other franchises where most of your investment will go into leasehold improvements that you will never be able to recoup.
Constantly grow the equity in your business by adding more equipment to your fleet as your business expands.