In this video, the speaker talks about his experience of starting an excavator rental company. He introduces his new 14k Mort’s dump trailer and Kubota U-17 excavator. They also highlight the importance of a clear pricing structure and policies.
Although he mentions that he initially struggled with figuring out the right rates to charge for his equipment rental services, he eventually settled on a competitive pricing strategy based on market research. A user-friendly website where customers can easily access information is one of the things that helped boost the business. In this case, the site showcases the equipment and allows visitors to contact the business.
The entrepreneur also highlights the significance of investing in good quality equipment and regularly maintaining it to ensure customer satisfaction. Doing so prevents potential accidents or breakdowns. Furthermore, he stresses the need to network and build relationships with other businesses and potential customers in the industry. He mentions attending local trade shows and joining industry associations to stay updated on the latest trends and developments in the equipment rental business.
Lastly, the business owner acknowledges the challenges and risks, such as financial investment, competition, and the need for continuous marketing and customer service efforts. However, he expresses his satisfaction with the growth and success of his equipment rental business. He encourages aspiring entrepreneurs to pursue their dreams and take calculated risks in their ventures.