The equipment rental sector is expanding, and if you're looking for a profitable business opportunity, this may be it. After all, tool and equipment rentals generate the majority of rental business profits in the United States, accounting for around $2 billion in yearly sales. If you want to leverage those equipment rental trends into a business opportunity, now is the time.
But setting up an equipment rental business online has its own challenges as we know that a rental business needs complete rental management to monitor and track every order. However, once you have a checklist to follow and know your next step, your work becomes easier. To get started online, you just need a responsive website, a rental system integrated in a website, and a little time to learn SEO, Google Ads, and best practices for social media posting.
Here's a guide that will walk you through each step so that you can rent out equipment online successfully. We have created this checklist through our experience with customers around the world and it includes everything from researching your market and choosing a website builder to marketing your rental units. So without any further ado, let’s discover the value this guide has for you:
1. Research Your Market before Getting Started
Launching the business in two segments might yield different results. There will be a different sort of attraction to downtown equipment rentals than to those at the seaside.
They will also demand other services. Before you begin, be certain that you understand what your consumers are searching for.
Simply communicating with them is the most efficient way to do this. Talk to local construction businesses if you want to hire machines. You can ask the following questions:
What type of equipment are you looking for? High-end or low-cost? Which brands or specific goods are you most familiar with?
How much money are you willing to spend? Estimate your client's spending rather than picking a value based on speculation.
Do you need anything other than rentals? Are there any extra services you might provide to your clientele to establish a one-stop shop?
2. Pick a Website Builder to Build your Online Presence
Once you have completed your research on rental equipment segments, the next step is to build an online presence. For that, you need to pick a website builder. There are plenty to select from, but the most preferred among Rides Rental Software users are WordPress and Squarespace. They often include templates and features to assist you in creating a website without having to understand everything regarding web design.
Take considerable time with each to determine which one you like and whether you can have all the features you want to incorporate or not. Once you find the right template, you are good to go.
Rental websites work on a simple concept. When you provide your customers with the correct amount of information, they will be convinced to rent from you. You have your rental units but you need to highlight them. How you present your products must educate clients and answer any concerns they may have before making a reservation; similarly, your copywriting should connect your branding with the demands of your customers.
3. Integrate a Booking Platform to your Website
With evolving technologies and high-end rental software like Rides Rental Software, setting up an equipment rental business online has become a lot easier than ever. Most people prefer to make online reservations, and adding online payment options to your website can make their booking experience a lot better. Not only is it beneficial for your clientele but simplifying the process may generate more income and allow you to focus on other aspects of your business, and it could be one of the finest things you do for your rental company.
Even if you don't entirely redesign your website, you should seriously consider adding online booking and payment alternatives. Unlike eCommerce, most website builders do not provide a booking platform. There are other booking systems, but Riders Rental Software is one of the best choices for getting started quickly because it is equipped with a website connector as well as a sophisticated backend for managing inventory, orders, clients, and documents.
4. Add Products to your Inventory
Following that, you must add all of your rental units to your inventory with accurate product information, availability, and pricing so your customers would know what’s available and what is not. Now, most booking systems will enable you to enter information manually or via a spreadsheet into which you can enter all product information and upload it into your account.
Online inventory control impacts every aspect of your rental business, from keeping your stock levels in check to precise and timely order fulfillment. Not only that, it streamlines inventory tracking, boosts profitability, enhances customer experience, and makes running your business much easier overall.
Furthermore, it enables you to produce accurate reports with real-time data while assisting in meeting day-to-day needs, improving forecasts, and identifying corporate development prospects.
5. Build Product Pages
When renting items online, one of the most important things to attract and engage your clients is having product pages on your website that buyers can quickly access. Your equipment must be showcased with a picture and details on these product pages. Effective product descriptions can increase website traffic and persuade consumers to make a booking at the moment. This would create a difference between your business and your competitor.
You may distinguish yourself by being technical, having wonderful product graphics, narrating a compelling story, or incorporating social proof. When you are done designing your page, you can add embeddable items from your inventory in Rides Rental Software to the pages.
6. Create Website Content that Narrates a Story
After embedding the product pages to your website, the next thing is to write a persuasive copy for your rental business. All of the information on your website must be geared toward convincing potential clients to make a reservation. This means that your website copy should be clean and simple. You should be presenting a message that convinces clients that you are the best option for them.
Content that performs well requires research, and you must understand your customers' objectives as well as the obstacles they face when trying to rent your items. This way, you will be able to connect better and create a great copy.
7. Make your Online Store Simple to Use
A key focus here is to make the online booking experience simple and convenient for your customers. Customers can't reserve equipment if they can't find what they're looking for. Breaking things down into categories and making them easily accessible from the navigation menu is a great approach.
8. Invest in Paid Promotion to Reach the Target Audience
Paid advertising is one of the easiest methods to get traffic and attract visitors to visit your website. It gives you immediate exposure and becomes more likely to be spotted for the terms you're targeting than you would be with only organic efforts because obviously, you’re paying for it. This may be accomplished using either Facebook Ads or Google Ads. It is simpler to get started with Facebook, and you can experiment with different ad layouts with a minimum budget to find which works best for you. Then you can move to Google Ads. It offers access to ad performance data so you can track your progress and fine-tune your approach. This approach allows you to maintain your budget while getting the most out of your advertising expense.
9. Improve your Website's Performance
Now that you've had your first visitors, you should concentrate on attracting more individuals to see it. You may begin by enhancing your website's SEO, which will help your website rank higher on Google for relevant keywords. Your website should be optimized for the search phrases that customers are likely to use to find you. Consequently, your URL, title, header, meta description, and content on each page should include high-volume search phrases. Of course, this isn't a one-and-done exercise, but there are certain quick victories you can make in the beginning.
10. Use Social Media to Market your Business
A social media presence is essential for any modern business. It may appear intimidating at first, but you may build a tiny following by encouraging others to follow and share your accounts. You should publish at least twice a week and utilize hashtags to increase the reach of your posts, especially on Twitter and Instagram. Instagram has a photo-first layout that means you can build a great impression by sharing quality images of your equipment, and it's easier than writing lengthy posts elsewhere. That is why you must have attractive photographs that entice visitors to stop scrolling and visit your equipment rental company's Instagram profile.
You should be recognizing the advantages of renting out equipment online by now. To keep the audience you've built, you would need to continue working on your SEO, publish interesting content, and execute ad campaigns with larger budgets. To build social proof, start collecting reviews and publish them on your website and social media.
If you need help, talk to our rental experts and we will help you create a SEO optimized website!