CED

October 2014

Issue link: http://read.dmtmag.com/i/396232

Contents of this Issue

Navigation

Page 25 of 59

24 | www.cedmag.com | Construction Equipment Distribution | October 2014 Rental Web-based businesses are popping up every- where, including in the construction equipment distribu- tion space. BigRentz.com and Yard Club are two you should know about. An inside look at these companies will help you determine if partnering with them makes sense. BigRentz.Com. Focuses on New Level of Service BigRentz.com. is a website that wants to be to the equip- ment rental industry what Booking.com, Trip Advisor and Expedia are for travelers. They don't actually own any equipment to rent, but rather, they match leads generated off of the website with appropriate dealer partners in each of the country's nine regions. Since jumping onto the scene in 2012, BigRentz.com has added 6,000 rental locations, offering far more access to equipment than even the indus- try's largest rental companies. What they offer end-users is the convenience of ordering for multiple locations from one source. They also believe their rating system will elevate the level of service in the industry. During the course of a rental transaction, BigRentz.com has several touch points with customers to monitor the rental experience. In addition to providing a quote and taking the order, they monitor equip- ment delivery, equipment pickup and then ask end-users to complete a post-rental survey. How it works: End-users looking to rent a machine find BigRentz.com online when searching for a machine to rent. A BigRentz.com rental expert talks to the customer over the phone and provides a quote based on location and delivery date. Rates shown online are national rates and not specific to a market. A booking agent then sources the equipment from the company's database of suppliers to find a suitable match based on customer preference and an algorithm that takes into account supplier ratings, pricing and location. Participating dealers set the price for which they agree to rent their equipment to BigRentz. Dealers are notified when their rental equipment is needed. At the end of the month, dealers receive a consolidated report and income for the rentals. "We are not the cheapest and that is not what we are looking to be," said company CEO Dallas Imbimbo. With 24/7 service and the largest network of rental locations, Imbimbo contends the service level is greater than what is provided by any other supplier in the industry. Worried that BigRentz.com will result in lower prices for rentals? Imbimbo believes that BigRentz.com actually helps raise rental rates in the market, because if a customer comes back and chooses to work directly with the dealer, they will be renting at the market price established by BigRentz.com. One reason why BigRentz.com has been able to add locations so quickly is that there is little risk to sign on. It's free for a supplier to be included on the list. Since August of 2013, the number of suppliers has grown from 50 and 1,000 locations to 900 suppliers and 6,000 locations. According to Imbimbo, in August of 2014 they used 200 different suppli- ers to fill orders. BigRentz.com has seen double-digit growth in each of the months since it launched and was recently named one of the fastest growing companies in Orange (continued on page 26) Who and What Are Shaking Up the Rental Model Two new, web-centric companies offer alternative approaches to renting equipment. BY JOANNE COSTIN

Articles in this issue

Links on this page

Archives of this issue

view archives of CED - October 2014