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The construction industry has been burgeoning in recent years, and the United States Census Bureau reported that construction value in the United States reached a new all-time high in 2022, surpassing $1.7 trillion. This growth is expected to continue.
As the construction sector continues to expand, so does the demand for construction equipment. Many businesses have turned to renting vehicles instead of purchasing them outright to meet this demand.
Renting equipment can be a fantastic way to save money and avoid the hassle of maintenance and repairs. Nevertheless, if you’re in the business of renting out construction vehicles, it’s important to have a solid rental agreement in place.
A well-crafted equipment rental agreement will help ensure that both parties are clear on the terms of the contract and can avoid any misunderstandings down the road. This article will go over some crucial points that should be included in your equipment rental checklist template.
Downloadable Equipment Checklist Template
Understandably, not everyone is familiar with drafting a rental agreement. To help you get started, we’ve created a downloadable equipment checklist template. This template includes all the key points that should be covered in your agreement and a few extra clauses that can be added depending on your specific needs.
So if you’re looking for a starting point, download our template and use it as a guide while drafting your agreement. It will help make sure that you don’t forget any important details.
Before we look at the checklist, let’s first go over inspecting the equipment.
As an entrepreneur, your vehicles are one of your most important assets. Not only are they essential for getting the job done, but they also represent a significant investment. That’s why taking care of them and performing regular inspections is important.
Before renting out any of your vehicles, you should always perform a thorough inspection. This approach will ensure that the equipment is in good working condition and help you avoid costly repairs down the road.
Ideally, it would be best to scrutinize your vehicles before each rental. However, we understand that this isn’t always possible. If you can’t check the equipment before each rental, you should still try to do it at least once a week.
How often you inspect your vehicles will depend on several factors, such as how often they’re being used and how well they’re maintained. However, as a general rule, we recommend inspecting your equipment before and after each rental.
A partial inspection might also be a good idea to ensure that the equipment is still in good condition during long-term rentals.
Key Things to Include in an Equipment Rental Inspection Checklist
Having gone over when you should inspect your equipment, let’s now consider what you should include in your equipment inspection checklist. Please note that this isn’t an exhaustive list and that you may need to add or remove items depending on the type of vehicle you’re renting out.
1) Basic Inspection
Here’s a quick overview of the things you should check for during a basic inspection:
2) Tire Condition
Check the tread depth and search for any signs of damage. Any nails or other foreign objects should be removed. If the tread depth is less than 1/16 of an inch, you should replace the tires.
3) Vehicle Lights
The vehicle’s lights should be checked, including the headlights, taillights, turn signals, and brake lights. The last thing you want is for your renter to get pulled over because a light is out.
4) Undercarriage
You should check the undercarriage for any leaks, as well as any damage that could have been caused by rocks or other debris.
5) Hydraulics
Obviously, this inspection is only relevant if you rent a vehicle with hydraulic equipment, such as an excavator. You’ll want to check for leaks and ensure that all hoses are in good condition.
6) Brakes
The brakes are probably the most important of everything on this list. After all, they’re responsible for stopping the vehicle. You should check both the brake pads and the fluid level.
7) Lifts
These are another set of items that are only relevant if you’re renting out a vehicle with hydraulic equipment. You should check the fluid level and look for any leaks.
8) Engine Inspection
In addition to the basic inspection, you should also perform a more thorough examination of the engine. This inspection is particularly essential if you’re renting out a vehicle with hydraulic equipment, as such equipment puts a lot of strain on the engine.
9) Engine Oil
More often than not, you’ll be able to check the engine oil level without having to remove the dipstick. However, even if that’s not possible, you should add this examination to your checklist.
10) Spark Plugs
Spark plugs are easily one of the most vital engine components, as they’re responsible for igniting the air-fuel mixture. Yet, they’re often overlooked. Give them a check, and ensure they’re gapped properly.
11) Air Filters
The air filter keeps dirt and other pollutants out of the engine. Over time, it will get clogged and will need to be replaced.
12) Equipment Cab
This section is the final part of our list. If renting a vehicle with a cab, you should check to ensure that all the safety equipment is in good working condition. This equipment includes:
13) State of the Cab Interior
Considering the time your renter will spend in the cab, you should ensure it’s in good condition. Sports to check include the floor, the ceiling, and the walls. They should all be free of dirt, dust, and other debris.
14) Equipment Controls
Like the brakes, the controls are an extremely important safety feature. You should ensure that all the levers and switches are correctly positioned and labeled. They should also be within easy reach of the driver.15)
15) Window Condition
A clear view is paramount for safe driving. As such, you should ensure that all windows are clean and free of any cracks or other damage. Any windows that are cracked or damaged should be replaced.
Strict scheduling can often be the factor that differentiates between a successful rental business and one that struggles. It allows you to avoid many common problems that rental firms face.
So use the template to create a setup that helps you manage your business more efficiently. And if you require a more comprehensive solution, consider using a software platform like Quipli.
Quipli provides equipment rental software that integrates your inventory with online equipment scheduling software, along with other benefits. You can reach out to our team today to book a demo and find out what Quipli can do for your equipment rental business.
Anyone who has a bit more capital and infrastructure ready to commit to their business could consider the lucrative construction equipment rental business. Both individuals and businesses will have a sporadic need for equipment once in a while but couldn’t possibly justify purchasing equipment to be used once or twice.
Construction equipment rentals fill that niche, providing anything from cranes to compressors to dump trucks and more. This rental sphere is a very broad category, so you could get started with something as simple as portable generators, pumps, and lighting equipment rather than investing in trucks and loaders right away.
Learn More About Building a Construction & Heavy Equipment Rental Business
The rental business provides many different entry points for people with varying levels of experience and capital. You can go big or start small, depending on what you’re looking to rent out. These rental business ideas could be just what you need to launch your next business or start making some extra money on the side.
Audiovisual supplies can range widely in quality and features, and price points can keep occasional users out of the market. While the average consumer might not have an everyday use for high-end projectors, speakers, and more, an AV inventory rental business will see plenty of traffic from events, conferences, parties, and more.
The same goes for a camera rental business. High-end cameras are prohibitively expensive, but so is hiring a photographer.
Many people will choose to rent cameras instead, letting them take their own professional photos for special events and trips. Both cameras and AV supply rental businesses have a relatively accessible entry point for newcomers.
Attractions for Children’s Parties and Other Events
Whether for school carnivals or birthday parties, there is a wide range of inflatable games and rides, along with other activities, that event rental businesses can provide. This industry provides a relatively low entry point compared to potential earnings, although it can be highly seasonal depending on your region.
Bounce houses, bouncy castles, or whatever you’d like to call them are an incredibly popular attraction for children’s parties and other events. With a wide range available from manufacturers, including water-based inflatables, you can accumulate an inventory that will be sure to have something for any customer who comes looking.
Whether you’re starting your business in a thriving urban center, a suburb, or a relatively rural region, medical equipment is always a necessity. The equipment needed may vary from place to place, so you’ll have to do some research to find your niche.
Carefully consider your target market. You might cater to hospitals, clinics, rehab facilities, private practices, emergency medical services, or even home healthcare services.
From there, find out what equipment is most in demand. That could be critical care equipment like ventilators and respirators, or durable medical equipment (DME) like wheelchairs and walkers.
With the right research and planning, you could build a profitable rental business.
Learn More About Building a Medical Rental Business
Homeowners and contractors can often run into jobs that require a very particular tool. However, these tools could be hundreds or thousands of dollars, and they only need them once. Tools rentals can provide a high-margin business with relatively limited overhead.
The inventory of tool rental businesses can range widely. Many focus on flooring and other home renovation equipment like floor strippers, tile cutters, saws, and more. There are also chainsaws and wood splitters, compactors and concrete mixers, compressors, pumps, and countless other potential inventory items.
Scaffolding and ladders are important elements in construction and home improvement that homeowners and many businesses only need occasionally and will rent instead of buying. Scaffolding rentals can be for weeks or months at a time, depending on individual projects.
You can find scaffolding available in many different styles with varying degrees of assembly required. A versatile scaffolding system can allow you to provide solutions for any of your customers’ needs with interchangeable parts and modular construction, casting a wide net without requiring excessive rental inventory.
Learn More About Building a Scaffolding Rental Business
Weddings are typically the most lavish and luxurious events that people hold, and they need a wide variety of rentals to pull them off. While there are, of course, wedding rental venues, those looking for a lower entry point can provide some of the other essential rentals that weddings need.
Weddings need tables, chairs, décor, cutlery, glassware, and more. Many who have weddings outdoors require tent rentals. These large tents can be used for a wide variety of other outdoor events as well, making them a great rental business idea that people in many industries could find useful to have in their inventory.
All Kinds of Boat Rentals
If you’re near the water, boat rentals could be the most profitable rental business for you. There are many different types of boats that you can rent out, which means that this idea can work for business owners with a wide range of capital availability. By building inventory, you’ll be able to provide rentals to a broader range of customers.
Kayaks, canoes, and rafts are always popular and are a relatively minor investment to get started. Eventually, you could expand to motorboats and fishing boats that carry a higher price tag but will also bring in much higher revenue. Pontoon boats are another favorite among boat rentals.
Costume rentals are another business idea that can cover a very broad range. While you might be thinking about Halloween costumes, there are many other niches that costume rentals are needed to fill. Of course, a range of Halloween costumes and supplies will be an important part of the business.
A variety of mascot costumes is also a great inventory idea, providing rentals for children’s parties and other events. You can also stock a variety of period costumes for themed parties, and of course, you’ll likely need a range of Santa costumes for the holiday season.
Start a Generator Rentals Business
If you’re looking for types of rental businesses with the potential to attract a large audience, generator rentals are an interesting option to consider.
While generators can be reasonably affordable, many businesses and private consumers are hesitant to purchase one without immediate need. By choosing a rental, they can save a lot of money.
Generator rentals are in high demand for many reasons. Commercial interests may want long-term backup for electrical necessities. Consumers may rent them seasonally for outdoor parties or intermittent blackouts. Construction operations may need them on-site for the duration of projects.
There are plenty of niches to explore, and startup costs here can be relatively low.
Learn More About Building a Generator Rental Business
One of the most adventurous types of rental businesses is power sports vehicles. There’s a wide range of vehicles to rent out, from motorcycles to jet skis and more. There are many different types made for different terrains, and you can identify which is most likely to become profitable rental equipment in your specific area.
ATVs are a great choice anywhere with extensive trails or other areas where riding is possible. In addition to dirt bikes, street bikes rentals are also popular and could be the right choice, although renting street-legal vehicles carries certain legal requirements.
There are also all kinds of more niche vehicles like side-by-sides, gators, and more that can fill out your inventory.
Learn More About Building a Power Sports Rental Business
Roll-off Dumpsters and Other Waste Management Equipment
While it might not be the most glamourous, roll-off dumpster rentals can be among the most profitable commercial equipment business ideas. This business involves large dumpsters ranging from 10 to 40 cubic yards, roughly 14 to 22 feet long, that are dropped off at homes or worksites and picked up when filled for disposal.
These dumpsters are durable and long-lasting, meaning you’ll have a long-term investment.
You’ll have to look into the economics of bulk waste disposal in your local jurisdiction to find out what services you’ll be able to offer, but most companies provide construction and renovation waste removal, yard waste removal, and sometimes hazardous waste removal.
Learn More About Building a Dumpster Rental Business
Storage rentals can be quite lucrative, and it’s not hard to figure out why. If you’re renting equipment, you have to not only purchase units but also lease a place to store them when they’re not rented out. With a storage business, your product and business space are one and the same.
Of course, you have to make sure there’s adequate demand for rental space. Whether you’re catering to urban and suburban homeowners who don’t have enough space for all their stuff or to commercial operations seeking storage for overflow inventory, understanding the market is crucial to success.
You should also consider offering additional services like moveable storage pods.
Start a Snowsport Rentals Business
Winter sports are a popular pastime in colder climates, especially those with ski resorts nearby. However, the price of entry when it comes to winter sports is high. It could cost several hundred dollars just to get outfitted for skiing or snowboarding, while brand-new snowmobiles might set buyers back $10,000 or more.
In other words, it’s often cost-effective for consumers to seek out a suitable rental business when they want to partake in outdoor fun during the winter. Your startup costs will vary by what you offer, and you’ll need to keep in mind that this is a seasonal business.
Portable Toilet Rentals
Renting portable toilets, also called “porta-potties,” is one of the most profitable rental business ideas out there. These portable chemical toilets are needed all of the time for many different reasons. While you certainly see them at all kinds of outdoor events, they’re also used in the construction industry every single day.
The cost of the portable toilets themselves is relatively low, thanks to their efficient molded plastic construction. However, an important point to remember is that a portable toilet rental business will require specialized vacuum truck equipment to drain waste from the portable toilets, which can be a significant investment.
Start a Beach Rentals Business
If you live near sand and surf, a beach rentals business could prove profitable. Beachgoers enjoy all kinds of sporting activities in and around the water, which gives you options to rent equipment for surfing, paddleboarding, snorkeling, scuba diving, and more.
Beach rentals are incredibly versatile – they’re not limited to water-based sports. You can also rent land-based equipment like bicycles, scooters, rollerblades, kites, and even beach chairs and umbrellas, just to name a few examples.
People come to the beach looking for fun and relaxation, and with the right rental equipment on hand, you can help them enjoy their getaways.
Start an Office Equipment Rentals Business
There’s no shortage of commercial equipment business ideas to explore, but if you’re looking for a broad umbrella, consider office equipment rentals. Every office needs furniture pieces like desks, chairs, and tables. And no modern office can function without equipment like computers, printers, and phones.
Many small companies are looking to rent short-term until they get on their feet, while others need equipment in a hurry as they ramp up operations. Some larger companies prefer long-term leasing for tax purposes, and you could supply what they’re looking for.
The good thing about this business is that office equipment is always needed, unlike some rental businesses that wax and wane seasonally.
Recreational Vehicle and Trailer Rentals
RVs and camper trailers are the preferred way for many to take their vacations. They’re also expensive if they aren’t going to be used very frequently, so there are always people looking for RV and trailer rentals. Your business can provide for that need with different types and sizes of RVs, trailers, vans, and more.
Most RVs are going to be Class A or Class C, with Class C being the largest on the road. Both provide great experiences and could be just what your customers are looking for. Tow-behind trailers are always popular as well, and camper vans are a rising trend that can provide a great camping experience for a limited party of people.
Learn More About Building a Trailer Rental Business
Bicycles are an interesting prospect when it comes to rental businesses for a couple of reasons. First, they can be used for both transportation and leisure. Some people ride a bike to work or to run errands, others use them for exercise, and some just want to cruise along.
Bikes can range from relatively inexpensive single-gear beach cruisers to pricy electric or racing bikes. Whether you’re renting out bikes for fun at the beach, or for urban residents and tourists seeking cost-effective car alternatives, you have to consider your target demographics, starting price, demand, and competitive rates to succeed with a bicycle rental business.
Make Renting Easy for Your Customers With Quipli
Quipli is a comprehensive eCommerce platform for all types of rental businesses. With a straightforward layout, effective search tools, and user-friendly navigation, Quipli will present your inventory to potential customers in a way that makes them more likely to find what they’re looking for.
Quipli makes it easy to manage your invoices, orders, and more directly through our platform as well. Book a demo with Quipli to find out how we can help your rental business today.
Many medical professionals and facilities require access to a wide range of medical equipment that they don’t have the budget to purchase outright.
Considering the amount of equipment a hospital, clinic, private practice, or other healthcare facility needs, keeping this equipment on hand can be incredibly cost-prohibitive.
If you own and operate a company that rents out patient monitors, gurneys, ventilators, or durable medical equipment (DME) like wheelchairs, crutches, and oxygen equipment, you want to make sure that your property is treated well so you can continue to rent it out.
While some wear and tear is to be expected, a medical equipment agreement rental template informs lessees of your terms and penalties and secures their agreement.
How can you create a contract that protects your interests?
Get A Medical Equipment Rental Agreement Template
When it comes to creating a medical equipment rental agreement, you don’t have to reinvent the wheel or make your own. Quipli has a rental agreement for purchase that is used by many of its own clients.
What Does a Medical Equipment Rental Template Need to Include?
Medical equipment may be used to support life-saving treatment or aid in patient recovery. For this reason, the owner of the equipment bears some responsibility for its condition.
When you lease equipment out to care providers, you need to contractually agree that they will take on the liability of maintenance and usage.
Your medical equipment lease agreement will also include standard details like duration and cost, restrictions on usage, and penalties for loss or damage.
Beyond the basics, however, you need language specific to the gravity of the medical purpose for which this equipment is intended. Here are some of the most important points to cover in your lease agreement.
Term of a Lease
As the equipment owner, you may want to offer a range of lease lengths for your clientele to choose from based on their needs.
Or you might prefer a standard time frame of, say, six months or a year, after which the lease could be renewed or renegotiated.
Either way, one of the first things you should cover as part of your basic client management is the duration of the lease.
Payment Terms
Once you’ve chosen a lease term, it’s time to spell out your expectations for payment. What is the cost of equipment rental? Do you expect payments on a weekly or monthly basis? Will you offer a discount for prepayment of, say, a full year in advance?
You need to decide whether to offer maintenance services as part of the lease (with the cost baked in) or to offer this as an extra service option with a separate fee. You could also make renters responsible for this activity.
You may want to require a security deposit to cover any potential damage to equipment.
There should also be stipulations regarding fees for late payment. Don’t forget to include policies and costs related to damage or loss of equipment during the lease term.
Restrictions on the Use of the Equipment
Before finalizing a lease and scheduling equipment delivery, you need to set limits on the use of the equipment.
These could include specifications on how the equipment should be used, but you may also want to spell out prohibited usage that is likely to result in damage or loss. State the associated repair or replacement fees.
Make sure to include specific language detailing where the equipment can be used, such as in a specific facility or perhaps at a number of facilities within an area.
Loss or Damage to The Equipment
Any DME rental agreement will have to include language related to the penalties for loss or damage and specifications about what constitutes loss or damage.
Requirements for the Condition of the Equipment Upon Return
You know what condition your equipment is in when you lease it out to a client. Before accepting a booking, you need to specify the condition it must come back in to avoid fees or loss of deposit.
Termination Clauses
As the owner of expensive medical equipment, you should reserve the right to terminate the rental agreement early if certain things occur or certain conditions aren’t met. This could include problems like failure to pay, storing or using equipment off-site, or damage to equipment.
Indentification and Liability Clauses
When you’re starting a medical equipment rental business, important that you protect yourself from liability in the event that patients, renters, or others are harmed through the use of your medical equipment. This is especially true in cases of misuse, negligence, malicious behavior, or other mistakes on the part of the renter.
Protect Your Medical Equipment Rental Company with a Comprehensive Rental Agreement
A medical equipment agreement rental template is a means of protecting your company and assets, and it has to cover several important points to absolve you of liability and ensure a profitable enterprise.
Quipli is an all-in-one software solution for rental businesses. Our equipment rental software helps rental companies track their inventoryto maximize revenue-generating opportunities and integrates with our reservation & scheduling app for a seamless customer experience. Reach out to the Quipli team today to learn more.
If you’re in the business of renting out heavy equipment, an inspection checklist will help you maintain your equipment in safe operating condition, which means saving money in the long run. When used properly and diligently, these checklists will protect your assets and add an extra layer of accountability to ensure your business continues to run smoothly.
While your techs may inspect the obvious components like tires and lights, it’s important to take advantage of comprehensive checklists like our free version below so that no detail goes unchecked. After all, you owe it to your customers to provide safe equipment that functions as expected.
Free Heavy Equipment Inspection Checklist PDF
Relying on memory during an inspection is a great way to ensure that something ends up getting missed. On the other hand, a well-constructed heavy equipment inspection checklist is a solid tool to keep your inspections streamlined.
Using an equipment inspection from PDF can further increase business efficiency since your techs can complete their inspections with a mobile device rather than constantly needing to print new paper forms.
So take the first step in safeguarding your business and assets today with our free checklist PDF.
If you choose to use it digitally, make sure you still print off a few copies to give to your rental customers. You can even include one in the cab of each piece of equipment for their convenience.
Another benefit of using a digital checklist is the ability to catalog inspections easily and share them with your team. This way, logs don’t go missing, and you can streamline the maintenance request process too.
Why You Need a Standardized Heavy Equipment InspectionForm
By using a standardized heavy equipment inspection form, you will not only make sure your equipment functions properly, but you will also help to increase the life of your equipment and ensure its operators remain safe.
You also reduce the risk of your business facing liability for accidents that occur due to a lack of proper maintenance.
Prevent Accidents from Occurring
According to the Bureau of Labor Statistics, the construction industry saw 1,008 fatal occupational injuries in 2020 alone. Heavy and civil engineering construction accounted for almost 200 of those deaths, while specialty trade contractors accounted for 576.
If you rent heavy equipment, the good news is that you can make a difference and reduce the risk of similar injuries and deaths when your customers choose to work with you. Checking your equipment regularly will safeguard you and your customers and limit casualties.
Reduce Overall Maintenance and Repair Costs
Performing routine inspections with a comprehensive equipment inspection log will help to limit costly repairs. By meticulously following a rigorous checklist, you’ll be able to identify problems early on before they become major ones, keeping your repairs cost-effective.
Replacing a major piece of equipment, such as an excavator or crane, can cost tens to hundreds of thousands of dollars. And due to inflation and supply chain issues, heavy equipment is only getting more expensive. However, if you properly care for your assets, major capital expenditures can be kept to a minimum.
What Should a Heavy Equipment Inspection Checklist Include?
Every equipment inspection form should comprehensively cover the components needed to start and operate a piece of equipment. After all, most operators will know to check the obvious things like oil levels, but it’s easy to forget something as minor as battery levels without a proper list.
You’ll want to perform three separate checks to ensure your equipment is client-ready: pre-start, warm-up, and shutdown.
Your pre-start check should be the most comprehensive, as you can get under the hood safely to examine the engine. As such, you’ll want to spend most of your inspection time here.
Next, you’ll want to perform a check once the equipment has had 5 to 10 minutes of warm-up time, allowing you to check for issues like leaks that weren’t apparent during the pre-start inspection. This is when you’ll want to check for anything that requires power, such as lights and brakes.
Finally, your shutdown should cover three key things: fuel, engine, and safe parking.
Here’s a more comprehensive look at what each stage should entail:
Pre-Start
Before starting the equipment, you’ll want to check all of the following:
Parking: Before you start, ensure that the equipment is securely parked
Seat Belts: Make sure all belts extend and lock properly
Fluids and Oil: Check levels
Visible Leaks: Examine the ground under the equipment
Undercarriage: Look for worn or broken parts
Engine: Check hoses, valves, and belts
Tires: Look for nails or punctures, and check pressure and tread level
Rims: Look for damage to the rims and loose nuts
Gauges and Lights in the Interior Cab: Make sure they are in working order
Battery: Check that the battery is charged and connected
Suspension: Check for vibration or concerning noises
Fan Belts: Look for any splits or tearing on belts, and check tension levels
Cooling System: Look for leaks or damage
Fuel system: Check the fuel level and look for leaks
General Condition of Cab Interior: Including horn, mirrors, wipers, and seats
Warm-Up
After the equipment has had a chance to warm up for several minutes, check the following:
Horns
Back-Up Alarms
Air Filters: Replace if needed
Lights: Including brakes, headlights, reverse, turn, etc.
Hydraulics and Fluid Levels
Brakes: Check for air and fluid leaks
Shutdown
When shutting down the equipment, make sure to check the following items:
Fuel Tank: Fill the tank and securely tighten the cap
Engine: Let the engine idle for a few minutes before shutting off
Parking: Park the equipment in a safe location
Keeping Your Equipment in Great Condition with the Right Tools and Partners
The bottom line is that regularly inspecting your equipment can help you avoid customer complaints, expensive repairs and fines, and serious injuries. But inspecting your assets is only one facet of running an equipment rental business.
Thankfully, saving money and keeping your business running smoothly is what the Quipli team specializes in. That’s why we’ve provided a free equipment checklist that will protect your employees and your customers.
The Quipli platform can further streamline your equipment rental business with equipment scheduling software, equipment checkout software, and a inventory management system to seamlessly keep track of your rental inventory. Reach out for a demo to learn more today.
No matter what your most rented piece of equipment is, Quipli provides an all-in-one system that combines an innovative inventory management and reservation system, rental website builder, Point Of Sale Software, and built-in reporting you need to make running your business that much easier.
Quipli’s equipment rental software will streamline your equipment rental business. Reach out for a demo to learn more today.
Using an equipment checkout form can help you manage your inventory more efficiently. A good form will also make the checkout process easier for customers, limiting the chances of rental attempts being abandoned because of a cumbersome booking process.
Any detailed checkout form will lay out the expectations for both parties to ensure the experience is as smooth as possible. These forms will further help you keep track of your rental inventory and prevent potential losses.
Equipment Checkout Form Template
A well-put-together equipment checkout form will allow you to collect customer information and equipment usage data and then easily transfer these statistics to a database.
From there, you can track who is checking out what and who is using what. This insight should create additional sales opportunities. Here’s our free equipment checkout form you can use in your rental business.
An equipment checkout form will need to include certain information about the equipment that’s being rented and collect key details from your customer.
Collecting information for equipment checkout can be a delicate balance. You want to get as much information as possible and provide details on how you will use the data, but you want to keep the process as easy as possible.
The less your customer has to type or think, the better your results when it comes to checkout forms. Create selectable options when you can and allow for one- to two-word answers if possible.
Customer and Company Information
To start, you’ll want to collect the contact information for the person or company checking out the equipment. This data should include information about the individual authorizing the checkout and contact details for whoever will be responsible for the equipment.
A good practice is to get as much information as reasonably possible, such as the location of the company renting the equipment, as well as the location (or locations) where the equipment will be located during the rental period.
You’ll also want to provide contact information for your company, such as an email address or phone number. Include the primary contact person for each piece of equipment.
Your renter needs to know who should be contacted if there’s an emergency and who should be contacted for maintenance or repair questions. Ideally, you’ll have one contact person within your company who can direct things accordingly.
Equipment Details
Make sure to include specific details about the equipment that’s being rented. These include the make and model of the equipment, as well as the equipment type. You may also want to include the picture on the form to ensure there are no mistakes.
Other equipment-related information you’ll want to include are the serial or identification numbers and the stock-keeping unit (SKU) assigned to the equipment as well as an inventory number, that you can keep track of from our equipment rental form.
Including as many details as possible on the equipment’s condition will prevent any issues with assessing potential damage. What was the condition of the property when it was checked out? Is there any major cosmetic damage to the equipment? Laying this information out will help you fairly assess the equipment upon return.
Due Date Information
You should state the due date (and time) for the equipment explicitly. By codifying the due date and time, you can ensure there are no misunderstandings regarding when the equipment needs to be returned.
For example, suppose that a customer is completing the checkout form on Monday morning for pickup on the same day at noon. They choose a five-day rental period. Your return policy is that the equipment is due by 5 p.m. on the due date. Thus, you’d want to state the due date info as Friday before 5 p.m.
Information About Pricing and Late Fees
Pricing will be another key detail you’ll want to lay out in the checkout form. You’ll want to break down the fee structure (how the fees are calculated) and outline the fees item-by-item.
A section on other possible fees should also be included, covering damage, cleaning, and late fees. The late fee will tie into the due date and time.
Clearly state your late return policy and the fees associated with it. For example, what do you charge if the equipment is returned later than the stated due date and time? Is the renter charged for an additional day?
Also, include a policy on giving notice when the rental period needs to be extended. If the customer will need the equipment for an extra day, when are they required to notify you?
General Terms and Conditions
The terms and conditions will contain the fine print and legalities. This section will outline how, where, and when the renter can use the equipment. For example, you may have some equipment that shouldn’t be exposed to water or used with certain materials.
This equipment rental terms and conditions section will further detail contingencies and expectations if the equipment is damaged or lost. What are the procedures and timeframe for reporting damage? Which software can be used with the equipment? You will address these types of questions in the terms and conditions.
Signing and Accepting Responsibility
When accepting the terms and conditions of the equipment checkout form, your customer should become more informed about the responsibilities inherent in renting the equipment.
Signing the form includes accepting the responsibility of safely operating and caring for the equipment, as well as the terms of the fee schedule. You can reiterate the potential fees and penalties in the terms and conditions.
Near the terms and conditions section is the signature block. This area is where the customer (or the company representative) will sign, accepting the terms and conditions and acknowledging that the information on the checkout form is correct.
If you’re looking for more than just an equipment checkout form and want a fully integrated checkout system that makes managing your rental equipment inventory simple, Quipli can help.
Quipli’s platform includes a seamless checkout process with all the key checkout information you’ll need. It’s also an inventory tracking system.
Ready to streamline your business? Reach out anytime to book a demo of our equipment rental software and check out what Quipli can do for you.
Rental companies need to determine their total equipment value for various reasons, whether it be for buying and selling equipment, auditing your rental inventory, or getting it insured.
Equipment values will vary based on your business, but our used equipment value calculator is a great first step in creating a construction equipment price guide.
Reasons for Valuation
The reason you’re looking to value your equipment will play a role in which equipment value estimator and approach you’ll use. Are you looking to buy or sell a piece of equipment? Assessing the value for insurance purposes? The valuation methodology you’ll use depends heavily upon the reason you’re trying to determine a value for your equipment in the first place.
When it comes to valuing equipment for buying or selling, there are three key valuation methods.
1. Fair Market Value
Fair market value is a valuation method in which both a buyer and seller are willing to partake in a transaction. Say you’re looking to start a rental business: To get an idea of the costs involved, you can use a fair market value calculator. Equipment you’d need can be entered into the calculator to determine the price you’d pay.
If you already have a rental business but are looking to upgrade your equipment by selling some older items, then the fair market value is likely what you’ll use to get a rough idea of how much you could sell your equipment for.
2. Orderly Liquidation value
The orderly liquidation value is what’s expected when a seller is forced to sell an asset with some time constraints. This method gives a reasonable amount of time to find a willing buyer. This valuation is generally less than the fair market value.
3. Forced Liquidation Value
A forced liquidation value is the asset’s value if sold almost immediately at auction. This valuation assumes the assets or equipment are sold as soon as possible and is generally lower than the orderly liquidation value.
Insurance
If you’re looking to value your equipment for insurance purposes, such as filing an insurance claim or purchasing a new insurance policy, you’ll use one of the three methods below.
1. Actual Cash Value
Insurers may use the actual cash value to determine the value of your equipment. This value is calculated as the replacement cost of the equipment and incurs less depreciation.
2. Replacement Cost New
The new replacement cost is the value of purchasing the latest version of the same piece of equipment, brand-new.
3. Reproduction Cost New
The new reproduction cost is the valuation for a piece of equipment based on the costs involved in reproducing the equipment with the same specifications, based on current prices.
Financial Reporting and Financing
If you’re valuing your equipment for financial reporting or to raise funding for your business, there might be specific requirements. For example, a lender may base its valuation on the market price of the equipment for calculating the loan-to-value ratio.
How to Calculate Your Equipment Value
Regardless of the reason, if you’re looking to calculate the value of your equipment, you’ll need to do the following.
Identify and Compile the Relevant Information for Each Piece of Equipment
To get a proper valuation done, you’ll need to gather key information for each piece of equipment you have, such as:
Purchase date
Purchase price
Accumulated depreciation
Keep a file with this information readily accessible.
Determine the Right Valuation Methods
There are three different methods that are generally used for equipment valuations: the sales comparison approach, the cost approach and the annual straight line depreciation method.
Sales Comparison Approach
The sales comparison approach looks at the current market for new and used equipment — what are the current prices for similar equipment between willing buyers and sellers? A sales comparison approach is used when sales data is readily available.
The age and condition of the property are taken into account when looking at used equipment. This may involve looking at recent auctions, dealer listings, and conversations with vendors to assess the market.
The best way for this approach is to start keeping track of what similar equipment is being sold for so you can gauge your own equipment.
Cost Approach
The cost approach (also known as the cost method) uses the new replacement cost. This method is generally used when there’s not an active market for the equipment. For example, you have a specific type of excavator that the manufacturer no longer sells, and as such, there’s no real market for it. Your heavy equipment valuation calculator should point you toward using the new replacement cost for a new version of a similar piece of equipment.
When there’s not an active enough market for the sales comparison approach, that’s when the cost approach is used. It is also suitable when the product is highly customized.
If you have a rental business that uses custom equipment, the cost approach is what you’d use for your valuations. The cost approach may include reaching out to manufacturers and vendors to appraise the custom equipment needed to reproduce the asset and may also involve checking published price lists.
If the equipment is no longer made, the cost approach may include reaching out to the previous manufacturer to see if they can provide an estimate of what the equipment would cost to build today, factoring in present technology and current prices for supplies.
Calculate the Equipment Value
Now that you’ve nailed down the reasons for your valuation, you should have a general idea of the best method to conduct it. If you’re using the sales comparison approach, look at the buy-and-sell market for new or used equipment like yours. The cost approach means you’ll need to find equipment that’s similar to yours and factor in depreciation.
Build Your Quipli Rental Business with Quipli
Quipli is an all-in-one software solution for rental businesses. Our equipment rental software helps rental companies track their inventory to maximize revenue-generating opportunities and integrates with our reservation & scheduling tool for a seamless customer experience. Reach out to the Quipli team today to learn more.
Search engine optimization – better known as SEO – is a subset of digital marketing.
It’s a set of strategies and techniques that help make your website more likely to show up on the first page of Google search results.
A good SEO strategy means you’re likely to show up at the top of the page when people search for something like “forklift rentals in Dallas” or “excavator rentals near me” – things that hundreds or even thousands of people search for every day.
If you’re the one that comes up at the top of those searches, then those customers are probably going to end up buying from you.
If you don’t have an SEO strategy in place, you’re missing out on a lot of sales – sales that may well be going to your competitors instead.
SEO can seem daunting at first, but it doesn’t have to be.
We’ve created a beginner’s guide that breaks down SEO for equipment rental companies step by step, showing you how to get started and build the solid foundation you need for SEO success.
If you’re running an equipment rental business and new to SEO, here’s what you need to know.
Want to make more sales? Your business needs an SEO strategy
Someone needs to rent a piece of equipment – heavy machinery, a kayak for a weekend trip, or anything in between.
What’s the first thing they do?
They pull up Google and search.
They might look for something like “backhoe rentals near me,” or “backhoe rentals in Philadelphia.” (There are several common query structures that customers use – check out our post on the top cities for equipment rental searches for some more info on exactly what people tend to search for.)
Chances are, they’ll end up going with a company that shows up at the top of the Google search engine results page (SERPs).
So if your competitors are optimizing for Google search, but you’re not, you’re losing out on a big chunk of potential business.
For equipment rental companies, search engine optimization (SEO) is a key source of leads and bookings. Being able to rank on the first page for relevant searches can make a huge difference for your business’s growth and success.
So how do you show up for the right searches? You need a solid SEO strategy.
How is local SEO different?
Equipment rental companies are businesses that serve a particular geographic area, rather than catering to customers nationwide or internationally.
As such, you’ll need to focus on what’s known as “local SEO.” This is a subset of search engine optimization that centers on tactics and strategies that work for local businesses.
There are some additional tools and considerations that are specific to local SEO (versus national or international SEO). The right strategies will help your business rank for local searches, targeted specifically toward people in your geographic area – things like “forklift rentals near me.”
For these kinds of local searches, Google’s search algorithms take some additional factors into account – namely, Distance, Relevance, and Prominence.
“Distance” concerns how close the searcher is to your business’s location. The closer they are to your address, the more likely you are to come up in their searches.
“Relevance” is pretty self-explanatory – Google shows people results that sync up with what their queries indicate that they’re looking for.
“Prominence” concerns factors like the quantity and quality of your reviews, as well as the amount of engagement your brand is getting online.
Creating an Equipment Rental SEO Strategy: What You’ll Need to Do
SEO is a long game. While you won’t see results overnight – in most cases, it’s a matter of months before you really start to see clear gains – SEO can bring a lot of long term growth.
To get started with an SEO initiative, you’ll need to cover some groundwork first and lay the foundation for success.
Here’s what you’ll need to do to get started with SEO for your equipment rental business:
Claim and optimize your Google My Business page
Set up Google Search Console (GSC)
Perform keyword research
Optimize your website for your primary location
Optimize your site for technical SEO factors
Create optimized categories
List your company on relevant online directories
Encourage your customers to leave reviews
Develop a content marketing strategy
Build backlinks – links to your site from other websites
Here’s a step by step guide for what you’ll need to do to set your SEO strategy in motion.
Claim and Optimize Your Google Business Profile
Google Business Profiles are an essential part of local SEO. For local searches, the algorithms draw heavily from information about businesses that’s contained on these pages.
This feature has been around for over fifteen years, under several names. Up until quite recently, it was known as “Google My Business” – usually abbreviated as “GMB.”
In 2021, Google changed the name to “Google Business Profiles.” However, the abbreviation GMB is still in standard use throughout the SEO industry.
In this article, we’ll be referring to Google Business Profiles as “GMB” for short.
One of the first things you’ll need to do is to create your GMB listing, and ensure that it’s optimized properly.
The first thing you should do is to run a Google search for your business, to just to make sure it doesn’t already have one. (If it does, but you’re not in possession of it, you can claim the profile.)
If you don’t have one yet, setting it up is a pretty simple process.
After you enter your information, Google will need to verify your profile. This involves sending a postcard to your physical address, and usually happens within one business week.
Some of the information you’ll need to input includes:
Your official business name
Your business category
Your address and phone number
Your business hours
Your website URL
Information about your service area
Optimizing your Google Business Profile
You’ll want to include relevant SEO keywords in your GMB profile, as you would on your website.
You also need to ensure that all of your business information is accurate. One of the biggest factors in local SEO is what’s known as “NAP consistency.” NAP stands for “name, address, phone number.” These need to match across various platforms — GMB, your website, online directories, etc.
Post to GMB Periodically
Google Business Profiles allow you to create posts on the platform. Posting to your GMB profile helps maintain an active presence on Google, as well as giving you an additional place to engage directly with your customer base.
You can post things like discounts and offers; new products; upcoming sales and other events; and general info and updates about your business.
If you want to execute a successful SEO strategy, you need to be able to track results – search rankings, traffic analytics, and other important metrics.
Google Search Console – formerly known as Google Webmaster Tools – is a key weapon in your SEO arsenal. It’s a free platform that lets you monitor how your site is performing.
With GSC, you can see information like referring domains, desktop and mobile site performance, whether you’re featured in rich search results like Featured Snippets, and more.
GSC is a robust tool, with a lot of different features. It can take some time to get the hang of using it, but once you do, you’ll swear by it.
Because GSC gives you access to confidential information, you’ll need to prove that you own the website. There are several verification options to choose from.
Once your site is verified, you’ll be able to see data for it.
Perform keyword research to find the best search queries to target
SEO revolves heavily around keywords – that is, the queries that users type into Google when they search.
Keyword research is the process of finding out exactly what people search for, when they’re looking for the kinds of products you offer – in this case, equipment rentals.
So where do you find keywords?
One place to find them is Google Keyword Planner, Google’s own tool for keyword research. It’s free to use, but there’s a caveat: the data it gives doesn’t tend to be very accurate. You’ll end up seeing search volume ranges along the lines of “100-1000,” or “1000-10,000.”
If you want data that’s far more accurate, third party SEO tools are the way to go. There are a bunch of different tools on the market to choose from, with some of the most popular being SEMRush, Ahrefs, and, for local SEO, BrightLocal.
The idea is to find keywords that people would search for if they’re looking for something that you can offer them.
For example, if you’re a heavy construction equipment rental company based in El Paso, Texas, you’d want to optimize for queries like “forklift rental in El Paso.”
How to search for keywords
There are a couple of different methods you can use to find suitable keywords you can optimize for.
Brainstorm “seed” keywords, then search them to find other related keywords. For example, you might start with something like “kayak rentals.”
Check what your competitors are optimizing for. SEO software lets you snoop on what your direct competitors are optimizing their own pages for. This is a great way to get some info on the best keywords to target.
When you find keywords, you’ll be able to get data for them. This includes information like search volume – how many people are searching for that query each month. You can also look at the existing SERPs for a particular keyword.
Most SEO software will also assign a Keyword Difficulty Score. While these are a third party metric (rather than being directly involved in Google’s algorithms), they can give you a general idea of how hard it will be to rank.
For a thorough guide to keyword research strategies and best practices, we recommend this comprehensive guide from Ahrefs.
Optimize your site for your primary location
Because you’re a localized business that serves a specific geographic area, you’ll need to optimize your site for your primary location, as well as for relevant keywords.
You’ll need to use your location in key places on your site – headings, URLs, page titles, body copy, and the like. Just as you would do with your target keywords.
Create compelling, original product descriptions optimized for search
Each item you’ve got available to rent should have its own unique product description. You can easily optimize these descriptions for SEO, including relevant keywords for which you want the page to rank.
Your product descriptions should, of course, be written for humans rather than for search algorithms. They should describe the products thoroughly, and the copy should be well-written enough to compel someone to book a rental.
Product descriptions tend to be pretty concise and to-the-point. As such, you want to make sure to avoid using your keywords too many times, which can actually work against you.
Some of the key places to include your target keywords include:
The URL of the product listing page
The page title
The main body copy for the product description
Alt tags for the product images featured on the page
Create optimized category pages
Category pages are an important part of any ecommerce site. They divide your products up into subsections by type, making it easier for your customers to browse and find what they’re looking for.
They’re also great for SEO. With the right strategy, you can bring in organic search traffic to these pages. To do this, you’ll need to add substantial text to the page, which is optimized for your target keywords.
Create citations by listing your company in relevant online directories and websites
“Citations” are online references to your business that contain your company’s name, address, and phone number (“NAP data”).
There are several different platforms online that host citations. Along with Google Business Profiles, there are also such well-known options as Yelp, Angie’s List, and Facebook.
You’ll also find other, smaller online directories that are a good place to get a citation.
These citations are a key factor in the off-page aspect of local SEO. When your business is listed in trusted online directories, that sends Google a signal that your business is worth showing to potential customers.
It also offers you other opportunities to come up on Page 1 of relevant Google searches, beyond just ranking your own website.
Some queries tend to be dominated not by individual business’s sites, but by directories and aggregation sites like Yelp or YellowPages. Having a presence on these platforms can help get you in front of searchers, even if your own site isn’t on the first page.
Because citations are so important, it’s worth investing in software tools that help you with citation management. One of the most popular options is BrightLocal.
How to optimize your citations
When you create citations, you’ll want to optimize them, making sure that you include key information.NAP data. We’ve mentioned that it’s important for your business’s name, address, and phone number to be consistent across different websites and platforms.
Business description. These are a good place to include some of your core keywords.
Website link. Obviously, you’ll want to include a link to your website.
Category. On sites that let you select a category, you’ll want to make sure you choose one that’s accurate.For example, if someone wants to rent a forklift, they might look for something like “best forklift models.”
Some of the styles of content you can create, centered around relevant SEO keywords, can include:
How-to guides and tutorials
Product reviews and comparisons
Industry news
Interviews with industry experts
Once you create content and publish it on your site, you can also promote it to your audience on social media.
Build backlinks to your website
Other than citations and GMB, most of what we’ve discussed so far in this article concerns what you would call “on-page SEO.”
Things like optimizing your pages for keywords are just one part of the SEO equation.
The other component is known as “off-page SEO.” Here, backlinks play a central role.
A backlink is a link to your site from someone else’s website. Ever since Google’s inception, backlinks have played a major role in the company’s search algorithms. Taking links into account is how Google beat out the competition back in the early 2000s.
To thrive in the SERPs and get that coveted organic traffic, you’ll need for other websites to link to yours.
How to get backlinks
So, how do you get backlinks?
This is an age-old question in the SEO world, and one for which there isn’t really any one, straightforward, simple answer.
In the early days of Google, there were many schemes and shortcuts that SEOs used to get links – links they essentially created themselves.
But in 2022, these strategies are very much a thing of the past. There’s no way around it: getting backlinks is one of the most challenging parts of SEO.
You need links from reputable websites – links that make sense in context, and aren’t obviously there as little more than an SEO ploy.
Here are a few of the common ways to get quality links:
Check out your direct competitors’ backlinks to get ideas. One of the best places to start with a link building strategy is to see what your competition is doing. You can easily use tools like Ahrefs and SEMRush to snoop on your competitors’ backlinks, finding out exactly where they’re coming from. You can then emulate their strategy, and seek out the same kinds of links.
Directories: We mentioned the importance of citations earlier in the post. Links from reputable online directories are a great way to boost your off-page SEO for a local rental business.
Local press. If you have something interesting or newsworthy going on, you can put out press releases, or reach out directly to local journalists. Getting some press is one of the very best ways to get high quality backlinks that move the SEO needle. It’s also great for general PR.
Guest posting. Guest posting is where you write and publish a blog post on someone else’s website. For these to be effective, they need to have value for the other website’s audience. You’re sharing your insights and expertise. If you’re interested in guest posting, you can reach out to the owners of other sites whose audience overlaps significantly with your own.
Local sponsorships and scholarships. One way to get some quality links is to offer a small college scholarship for local students, or to otherwise offer some kind of sponsorship.
These are a few of the ways to get good links for your business’s website.
Set yourself up for SEO success by putting the right foundation in place
When people want to rent a piece of equipment, the first thing they usually do is Google it. This means that if you’re not showing up in Google searches, you’re missing out on a lot of valuable business.
A strong SEO strategy can make a huge difference for your business’s growth and success, bringing in more leads and getting you more bookings than ever before.
Once you’ve got the right foundation in place, you can continue to develop your SEO strategy over the long term, bringing consistent growth over years to come.
SEO is a complex undertaking, with a lot of moving pieces, and a lot of information to learn. When you’re running a rental business, you don’t always have time to handle all of that yourself.
Quipli Is Improving the Construction Equipment Rental Experience
Just because owning and maintaining construction equipment is expensive doesn’t mean renting it has to be. Quipli simplifies the equipment rental process. Our equipment rental software embeds easily into any website, allowing customers to enjoy a smooth rental experience without the traditional headaches.
The pandemic pushed prices of just about everything sky high. If you’re in construction, you watched as 2 x 4 prices went from about $2 to $6 or more. Equipment prices rose similarly. Thankfully prices are coming back down, though they aren’t quite down to pre-pandemic levels. This begs the question: if you’re in the market to buy, what kind of construction equipment prices can you expect?
The Most Popular Types of Construction Equipment
Here are the types of construction equipment we’ll be looking at:
Excavators
Backhoes
Bulldozers
Skid steer loaders
Wheel loaders
Concrete mixer trucks
Motor graders
Forklifts
Augurs
Sod Cutters
Floor sanders
Log splitters
Paint sprayers
Cranes
Bucket trucks
Remember that you may find outliers that are cheaper or more expensive than what we list here. The price ranges offered are meant to give you a reasonable expectation so you can budget accordingly. Learn about the most expensive construction equipment here. Note that maintenance costs can be high.
How much does construction equipment cost? Let’s get into it.
Excavators
Expect to spend between $100,000 and $500,000. Heavy machinery prices vary mostly based on the size and capability of the machine. For a large name-brand excavator with massive digging power, $500,000 is not out of the question.
Backhoes
You’ll notice a wide price range, with small budget models at around $15,000 and heavier duty brand name backhoes inching close to the $100,000 mark. You may want to stick to brands that have ready parts availability and a wide network of support.
Bulldozers
A 40-hp dozer could be as little as $30,000, while a 400-hp model could be as high as $200,000. Most bulldozers are around 130 hp and cost between $75,000 and $175,000, depending on brand and features.
Skid Steer Loaders
The ubiquitous Bobcat might be the most familiar skid steer loader, and you may have even heard someone call one a Bobcat despite it being from a different company.
If you want a new skid steer loader, expect to pay $15,000 to $50,000 for the name brand with more power and features. Capacity also plays a large role in cost, with a 1,350-pound capacity loader costing near the low side of the price range, a 1,600-pound capacity loader in the middle, and a 2,200-pound loader occupying the top end.
Loader attachments can add up, too. Want to add a bucket? There’s a grand. Forklift forks? About $3,000. Want hydraulic actuated tools like hammers or backhoes? They can cost as much as the skid steer loader itself.
Wheel Loaders
When discussing wheel loader prices, it’s important to remember that there’s a huge diversity of size and capability. These equipment pieces can come with around 100 hp and cost as little as $40,000. A 200-hp model will run over $100,000. 350 hp will cost up to 500,000. A 500-hp model will be as high as $1,000,000. The average price range for a wheel loader sized for most construction companies is between $100,000 and $200,000.
Concrete Mixer Trucks
Concrete is exceptionally heavy, and the mixer trucks that carry it are also. Your concrete mixer truck might weigh between 25,000 and 30,000 pounds. The size and weight of the truck directly impact how much concrete mix you can transport.
Expect to pay around $100,000 to $150,000 for a new model. Concrete mixing trucks might seem like a big investment, but they usually make up for it in profit for the owner.
Motor Graders
When it’s time to pave a road, parking lot, or any area of land that needs to be billiard table smooth, a motor grader is essential. For smaller, 130 hp to 180 hp graders, expect to pay between $200,000 and $300,000. Larger companies with big contracts for highways might need 250 hp or more, which will mean they’ll be spending $400,000 to $500,000. If you can get away with a compact grader with less than 100 hp, you could spend $100,000 and get a quality machine.
Forklifts
If you want internal combustion, expect to pay $20,000 to $50,000. For an electric forklift, the cost is about the same, but you’ll need to spend about $2,500 to $5,000 for a battery and charger. More capacity equals more cost, so determine how much your forks will need to lift before you buy. Accidents happen, too, so don’t forget to ask about warranties and protection plans.
Sod Cutters
You could spend as little as $35 for a handheld electric sod cutter or as much as $1,200 for a gas-powered version with wheels. If your company is constantly landscaping, you will probably be best served by a larger gas-powered model that can do the job in a fraction of the time.
An ax can only take you so far. The average cost of a gas-powered log splitter is $1,000. There are cheaper manual versions for a few hundred dollars, but those work best if you don’t have a lot of logs to split. The high end of the range is about $7,500.
Paint Sprayers
Paint sprayers make the job of painting faster, more consistent, and give professional results. It’s worth spending between $50 and $300. Lower-priced models may be battery or plug powered, while the finer models will run off compressed air.
Cranes
Here’s another piece of equipment with a massive variety of sizes. A truck-mounted crane, low-end all-terrain crane, or rough terrain crane might cost about $100,000. Size increases bring price increases, and the largest examples can exceed $1,000,000. Crawler cranes are in a league of their own and can cost between $2,000,000 and $5,000,000. That’s the cost of heavy equipment.
Bucket Trucks
For sign maintenance, line service, and landscaping, a good bucket truck is a must-have. Low-end light-duty examples might be only $37,000, while higher-quality light-duty trucks could run as much as $140,000. The size, sturdiness, and features depend on the type of work you do.
Ready to streamline your rental business operations with powerful, dedicated rental software? Contact us today to book your demo, and find out more about how Quipli can help you take your business to the next level!
Excavators are a major workhorse at construction sites and in the landscaping industry. Just as an excavator can make a solid investment for any construction company, buying an excavator for your equipment rental business can provide a solid rate of return.
How much does an excavator cost, exactly? The answer depends on a number of factors. Here’s what you can expect when you’re in the market for an excavator.
How Much Does an Excavator Cost?
The cost of excavator equipment depends on several factors, such as:
Different brands can also represent greater levels of value. If you’re purchasing an excavator for your equipment rental business, a brand name can give you greater credibility but may increase the cost of purchase and maintenance.
Typical Excavator Price Ranges
How much is an excavator when buying brand-new? The price range can be anywhere from $100,000 to $500,000, depending on the aforementioned factors.
Some of the most popular brands (such as John Deere, Komatsu, and Caterpillar) can run to the higher end of the price spectrum, though they offer superior quality and value compared to other manufacturers.
The Lowest Costs You’ll Find for Excavators
The least expensive excavators are mini-excavators. Brand-new, these machines start at around $75,000. Used models can cost around $50,000 or even less. Full-sized excavators tend to be much more expensive, though used models will always offer a more affordable option.
How Much Does a Brand-New Excavator Cost?
A new excavator from the factory can cost anywhere from $80,000 to $500,000. The final price is dictated by factors like the brand, model, size, and specific features of the machinery itself. For instance, extra buckets and attachments can easily add between $5,000 and $10,000 to the final cost.
How much are excavators when you buy used? Used excavators typically sell for about 25% of the original price, which naturally makes these an affordable option for certain types of operators and business owners.
With such a steep discount, what are the advantages of buying a new excavator? Generally, a brand-new machine will offer benefits like:
The full manufacturer’s warranty
Better overall condition
Less chance of requiring maintenance
Access to the latest features and specifications
However, there are also some disadvantages to buying a new model, such as:
Higher upfront cost
Delayed production schedules
Unnecessary or redundant features
Fewer product reviews to inform your buying decision
The main advantage of a used excavator is the money you’ll save, which can be a good option for users who only need an excavator for a short period. The flip side is that used excavators often require more frequent service, and depending on the age and condition of the machine itself, they may not perform at the same level as newer models.
Professional rental companies might consider investing in a new excavator, as this will ensure the longest lifespan of the equipment itself and guarantee a higher rate of return. The added cost might even be factored into the price of the rental agreement, allowing you to balance the performance of a new machine with the added costs of a brand-new model.
How Much Does a Large Excavator Cost?
Standard-sized and large excavators can weigh anywhere from ten to 45 tons. Brand-new, these machines cost between $200,000 and $600,000, on average, while used models can run as low as $50,000.
This is where the brand can make a dramatic difference. A new Caterpillar or Komatsu machine will likely be priced higher than competitors’ models, though they also offer advanced features to add value to their products.
How Much Does a Small Excavator Cost?
Compact or mini-excavators typically weigh less than six tons. A mini-excavator can be slightly larger but generally won’t exceed ten tons. Small excavators often start at around $75,000 for a new model. Used mini-excavators can be considerably cheaper — it’s not unusual to see used excavators for sale in the $10,000-$20,000 range, depending on brand and condition.
If you’re an equipment operator, you’ll want to select a model that has the features you need for the type of work you do, whether it’s construction, landscaping, or other projects. Likewise, equipment rental companies should invest in tools that offer versatility and value, ensuring a high rate of return.
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