Making a business plan involves a lot of details. What the business is about, how you are going to generate revenue, what are the chances of making profits and losses, and the various types of resources you will need, will be included.
Okay, so we have considered all the requirements for starting a construction equipment rental business.
The reason why many businesses are renting equipment is due to the fact that they do not consider it necessary or worthwhile to purchase heavy equipment for use either due to budget constraints or the fact that buying the equipment would be a waste of resources as regards to leasing it.
Due to the fact that this is a capital intensive business, you would need the input of an expert who is knowledgeable in the industry and who would carry out an analysis on your company in relation to your location to help you determine if going into the business would be a wise decision.
If the odds are for you, the consultant would then help draft strategies that would help make your business have an edge over others that you might likely be competing with in the same location or even industry.
Asides from getting a business consultant to help you determine if going into the business is worthwhile, writing a business plan is another task you would need to undertake. Below is a sample of an equipment rental business template that should guide you towards writing your own business plan for your equipment rental business; A Sample Construction Equipment Rental Business Plan Template Business Overview The equipment rental industry according to IBIS World has several downstream businesses or industries that are its customers such as railcars, aircrafts, ships and drilling machineries.
There are more than 18, equipment rental businesses in the United States of America employing more than 78, people.
However, according to statistics, the downstream sector will strongly drive the industry from to Also, it is stated that construction and transportation industries will benefit from this strong projection in the next five years. However, as activities have dropped in the construction and transportation industries, it has caused many small players to exit the industry.
This is due to the fact that construction activities were on the increase globally, especially as governments were investing in emerging economies. Demand for advanced machinery with eco-friendly as well as low maintenance features has continually grown and is likely to surge past demand for conventional equipment in the coming years.
Also, another thing that responsible for a high adoption of rental products is the fact that consumers now have high purchasing power with a higher preference for rentals. This is due to the fact that emerging economies have increased the demand for heavy equipment.
The equipment rental industry is very capital in nature and businesses in the industry are usually involved in mergers and acquisitions, strategic alliances and joint ventures so as to increase their penetration to their target markets.
We also intend to sell some of our equipment and also become distributors for some major equipment manufacturing companies all over the United States of America.
Our vision as a company is to be the preferred equipment rental company here in Atlanta and also be amongst the top 10 equipment rental businesses in the United States of America by To ensure that we achieve the following vision and objectives, we intend to ensure that we build the best business structure.
Our equipment rental business is strategically located at Peachtree Street, NE in Atlanta and provides the required convenience for our various customers in easily locating us to make enquiries, buy or rent from us.
Also, our online presence makes it quite easy for those who love shopping online to locate us, not only are we located on top of various search engines, we also respond promptly to any online enquiries.
Our equipment are of high quality and are designed to last for as long as possible, this is because we procure these equipment with our customers in mind, and we would want that the equipment they get from us carry out its tasks efficiently.
Our management team is the best that can be found as we carefully sourced for those who not only had an understanding of the industry, but who also believe in our core values and were willing to work to ensure we reached our attained height.Find the latest business news on Wall Street, jobs and the economy, the housing market, personal finance and money investments and much more on ABC News.
Offering to bring the rental vehicle process in house, while strategically investing in our own units for our clients’ use is the foundation of the business plan.
This proposal offers to detail the entire venture from planning and implementation, to maintaining and growing, then eventually expansion. Green Building Expedited Plan Review.
Miami-Dade County is committed to green building design and construction standards in order to safeguard our environment; enhance quality of life; and promote sustainable development in our communities.
According to the equipment rental sales sample business plan, ER has customers in many service fields, including contractors, sub-contractors, municipalities, oil fields and petro-chemical plants. Its mission statement calls for the company to attract qualified, competent sales and service personnel and build a strong base of return customers.
Construction Equipment Rental Business Plan – SALES AND MARKETING STRATEGY Sources of Income Tack Rentals (TR) is an established company in Atlanta, Georgia whose aim is to offer several services to its customers based within its target location.
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on. May 1, By. Entrepreneur.
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