Skid Steers Are a Must-Have for Commercial and Residential Projects
A skid steer is one of the most versatile construction machines on the rental lot. Extremely maneuverable with different lift capacities, they are a must-have for commercial and residential projects alike.
From national rental chains to region-specific independent lots servicing locals, there are thousands of places to rent a skid steer. When choosing between a wheeled or tracked model, consider the project conditions more than speed.
Hours of Operation
Skid steers operate just as their name implies – they maneuver by the operator braking one set of wheels and putting power to another set. This opposing force causes the machine to turn left or right.
These compact rubber-tired machines offer several advantages over large conventional loaders and track loaders. They also use far less fuel. Their small size makes them easy to transport to distant jobsites.
Renting a skid steer saves project owners the significant expense of purchasing their own equipment and avoids the depreciation that occurs over time. It also reduces storage and transportation costs.
Rental equipment companies offer daily, weekly and monthly rates. The longer the term of the rental, the lower the rate per day. However, higher utilization can be a challenge as the equipment rental business is a fixed-cost business – equipment, building lease and employee costs stay about the same whether the equipment is out or not. Keeping an eye on utilization trends is important.
Daily Rate
Equipment rental companies are complex businesses that rely on several variables to stay profitable. Pricing is one of the most important factors to consider. By focusing on the right pricing, you can attract more customers and improve your customer retention. It is important to have a detailed price range available to clients so that they can estimate how much it will cost to rent your equipment on a daily basis.
You should also factor in fuel costs, delivery and transportation fees, pure daily operating costs and what type of maintenance is performed and by whom. You can also include a monetary amount for operator training if necessary.
A skid steer is an ideal piece of construction machinery for hauling, loading and trenching. Its rated pound capacity can vary from small, open-cab machines to large, closed-cab loaders that can handle 3,650 pounds or more. These versatile machines are safe and easy to operate and can work on paved, hard surfaces or soft soil or even uneven terrain.
Weekly Rate
A weekly rental rate is often optimal for equipment rentals. It allows users to rent equipment for a set number of days and avoids the hassle of having to worry about tying up equipment with a long term contract or dealing with the shake-down that can often happen when it comes time to extend the lease.
It also allows for the flexibility of machine swapping on a jobsite. For instance, a larger, more powerful skid steer may be necessary upon project start but can then be exchanged for a smaller, less expensive model to finish up the job. Rental companies that handle quality equipment like Cat brand skid steers are usually very flexible with swapping models to provide the best value for customers.
Purchasing skid steers can be a great investment for businesses that use the equipment on a regular basis. However, it can also cost a lot upfront and come with additional expenses including insurance, depreciation, storage and maintenance costs. Those extra costs can quickly push a project over budget.
Monthly Rate
Using an online equipment rental marketplace to compare the different models of skid steers can be helpful. Larger wheeled skid steers can cost more to rent than smaller, track loaders. However, the larger machines are generally more productive and fuel-efficient than their smaller counterparts.
Regardless of what type of skid steer your company needs, you should be sure to find rates that are competitive in the industry. This will help your company attract more customers and gain a reputation for excellent service.
Creating a pricing model for equipment rentals is a complex task. It requires a blend of data, creativity, and strategy. Ultimately, finding the right balance will ensure that your equipment rental business is profitable and successful. By following the tips above, you can make the process of calculating daily, weekly, and monthly rates for your equipment rental company much easier. You can even use an Excel or Google Sheets template to calculate the equipment rental rates for you.
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A skid steer is one of the most versatile construction machines on the rental lot. Extremely maneuverable with different lift capacities, they are a must-have for commercial and residential projects alike. From national rental chains to region-specific independent lots servicing locals, there are thousands of places to rent a skid steer. When choosing between a…