We love that old song where Kenny Rogers sings,
“Know when to hold ‘em”
“Know when to fold ‘em”
“Know when to Walk Away!”
“Know when to Run.”
Do you know when to Walk Away?
Each piece of rental equipment that you’ve invested in has to have a minimum rental price and a “Walk Away” rental price. It’s a business decision and based on solid business principles. If the unit is in service, it must be serviced! There is a cost to just “putting out a piece of equipment” because it is idle.
Some rentals are better off left to the competition.
We have models we’ve developed over more than a decade that focus solely on financial metrics of rental companies in the U.S. The models and metrics are necessary tools to be profitable in the rental business and its segments.
Do you know what your Walk Away rental rate is? You should or you are not a leading rental company.