May 2010 Vol. 65 No. 5
Newsline
May Rental News: United Rentals offers 0%; ARA aligns with True Value; Global Rental Alliance promotes industry worldwide
United Rentals offers zero percent financing on used equipment
ARA, True Value forge alliance
Global Rental Alliance promotes industry
Trench Plate Rental provides diversity, expanded product line
New market monitor service unveiled
Volvo Rents awards
RSC starts search for new CFO
United Rentals offers zero percent financing on used equipment
United Rentals is now offering zero percent financing on used equipment purchases committed by June 30, 2010. The special program applies to more than 6,000 items listed on the company’s online used equipment portal, www.unitedrentals.com/zero. Complete terms and conditions also are available on the Web site.
According to United Rentals, the key facts and highlights about the program include:
- Reliable source of credit for qualifying buyers of all sizes;
- Fast, easy application and closing;
- 12-month maximum term at zero percent;
- $1.00 buyout at the end of all leases; and
- Available to buyers in the United States.
Joseph Dixon, vice president of sales for United Rentals, said, “We have supported our customers throughout this difficult economy and now we are helping them look ahead to the need for equipment purchases. By providing access to credit at zero percent interest, we are giving our customers a way to save money now and compete effectively as business conditions improve.”
To make equipment selections even easier, United Rentals is launching a used equipment portal that offers thousands of quality items for sale. The range of construction and industrial listings in more than 40 categories makes www.unitedrentals.com/usedsales one of the largest sources of pre-owned rental equipment sold direct by owner.
The new portal uses an e-commerce platform that is convenient and easy to access worldwide. All items are value-priced, with hundreds of deeper discounts located in a Special Values section. Listings are refreshed in real-time, and are searchable by category, keyword, model year, manufacturer and location. Shoppers can download images, specs, prices and contact information by converting a search into a product sheet with one click.
ARA, True Value forge alliance
The American Rental Association (ARA), the leading trade group for the equipment rental industry, has forged a new alliance with True Value Company to expand rental services and member benefits to all of the hardware cooperative’s retailers who offer rental services through their local stores or stand-alone rental businesses.
The relationship strengthens already strong ties between the two organizations. True Value has been a general corporate member of ARA since 1984 and many of its retailers and suppliers hold their own memberships. In addition to providing True Value retailers with access to an expanded portfolio of best-in-class equipment suppliers, education, information, risk management and government affairs programs, the new alliance combines the resources of both organizations’ respective trade show capabilities under the banner of ARA’s annual convention and trade show, The Rental Show.
Global Rental Alliance promotes industry
The Global Rental Alliance held its eighth annual meeting in February in Orlando, FL, where representatives from 37 countries were in attendance for The Rental Show 2010. Discussion focused on the current economic environment and future projections for rental businesses represented by each of the organizations. Additional topics included insurance, safety/risk management, sustainability and corporate social responsibility, and equipment theft prevention and recovery, areas in which the organizations share information and work together for the collective good of their members.
The Global Rental Alliance is a partnership among seven rental/hire organizations throughout the world, including the Canadian Rental Association, DLR (France), European Rental Association, Hire & Rental Industry Association (Australia), Hire Association Europe, Hire Industry Association of New Zealand and American Rental Association (ARA). The purpose of the alliance is to increase the profile of equipment rental worldwide and build global understanding.
During the meeting, the members determined next steps for the Global Rental Alliance International Rental/Hire Exchange Program, administered by the ARA Foundation. The program advances publicly through participants the Alliance goal to educate, promote careers in rental and build leadership for the industry, increasing worldwide awareness through individuals of the equipment rental industry. The program, which debuted in late 2008, has supported three international exchanges to date. Future exchanges are being planned for the fall of 2010.
The alliance organizations meet as a group formally on a semi-annual basis and share information on initiatives throughout the year. This has brought about an increased awareness of overall priorities internationally, which serves to strengthen both the strategic outlook and the collective resources of each association within the alliance.
Trench Plate Rental provides diversity, expanded product line
Trench Plate Rental Co. (TPR) has grown substantially since its early days of only providing “Trench Plates” from which it derived its name. Since 1979, TPR has provided traffic control, slide rail shoring systems, steel and aluminum boxes, hydraulic shoring, shoring beams, pipe plugs, Competent Person and Flagger Training, including Confined Space & Fall Protection.
TPR offers full services, including temporary traffic plans, set-up and removal of product on a customer’s job site, maintenance of set-ups, and installs permanent signs, provided striping as well as many other services.
TPR is positioned to provide equipment for contractors in major portions of the Western U.S., including locations throughout California, Nevada and Texas.
New market monitor service unveiled
Equipment rental industry-specific research has taken a giant step forward with the launch of the State of Equipment Rental Industry Outlook 2009-2014 Market Monitor service by the American Rental Association (ARA) and RENTAL MANAGEMENT.
This online subscription-based program, exclusively available to ARA members only, provides subscribers with the latest economic information regarding the equipment rental industry compiled by respected economic forecasting firm IHS Global Insight. The information is updated quarterly.
A basic annual subscription to the Market Monitor service includes an economic overview and equipment rental revenue forecasts for the United States and Canada broken out into each equipment rental market segment — construction and industrial equipment, general, and party and event — as well as U.S. national-level rental equipment investment data and quarter updates.
Upgrades to the basic package can be purchased, enabling subscribers to access geographical and market specific information. As part of this new service, subscribing ARA members can opt to drill down and receive economic information at the metropolitan statistical area (MSA) level. Examples of the 363 MSAs in the United States include Chicago, Salt Lake City and locations such as Palm Coast, FL.
Volvo Rents awards
Paul Bullock and family were named Volvo Rents “Franchise of the Year” for the fourth year in a row during Volvo Rents’ Circle of Excellence Awards. Bullock is the owner of JPS Equipment, the franchise-holding company. The awards were part of Volvo Rents’ annual franchise convention held in February in San Antonio, TX. Mike Crouch, Volvo Rents’ vice president of operations, presented the awards.
The “Franchise of the Year” award is given to the owner group that demonstrates strong store growth, return on fleet, receivables management, training attendance, marketing, branding and appearance.
The Bullock family opened its first Volvo Rents franchise in West Monroe, LA, in 2003. They added stores in 2004, 2007 and 2009 in Alexandria, Bossier City and Baton Rouge, LA. Volvo Rents said the Bullock family-owned stores are widely recognized by their clients for their exceptional client care and for being the “friendliest rental stores in town.”
The award for “New Franchise of the Year” went to Fairbanks, Alaska, owned by Matthew Brice and Barry Lindquist.
Crouch also presented Circle of Excellence Awards to the five top-performing franchises for 2009. The winners were:
- Merced and Modesto, CA, owned by Helder Garcia and Brian Silveria;
- Rochester and Ithaca, NY, owned by David Terry;
- Haverhill and Southboro, MA, owned by Todd Miceli and Matt Carretero;
- Bryan-College-Station, TX, owned by Avery and Marty Walker; and
- Little Rock and Pine Bluff, AR, owned by RC Colburn, Roger Colburn and Troy Dodd.
Natwick also welcomed Bullock and Marty Walker as new members of the Volvo Rents Franchise Advisory Council, replacing outgoing members Chris Cole and Jeff Bleecker.
RSC starts search for new CFO
RSC Holdings has announced that David Mathieson, senior vice president and chief financial officer, is leaving the company to pursue other opportunities. Patricia Chiodo, currently the company’s vice president and controller, will serve as interim chief financial officer while the company conducts a search for his successor. The change is effective immediately and Mathieson will be available to assist in transition matters as needed.
RSC offers heavy construction equipment rental and used equipment sales including backhoes, bobcats, forklifts, manlifts, and bulldozers.
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