The construction industry is accelerating its adoption of digital tools that make business more efficient, and fleet managers have a better understanding of how effective each of their machines are at generating revenue for their business. Armed with that information, fleet managers are better equipped than ever before to help their businesses respond to equipment needs and extract profits from equipment investments.
When procuring equipment for upcoming work, fleet managers who don’t want to purchase new or used equipment can today find a wider variety of equipment available to rent online, on peer-to-peer sharing networks that connect contractors who own equipment with those who need it.
Fleet managers can expect peer-to-peer lenders to charge lower rates for rental equipment, and they’re more likely to find larger, more powerful or specialized machines on peer-to-peer networks than they are at a regional rental business.
Machines rented through peer-to-peer networks like DOZR can be delivered same-day if they’re shipped in-state, and deliveries from wholly different regions take a day or two at most, helping fleet managers and their businesses compress planning phases of a project into shorter time periods. Similarly, if a fleet manager has a machine go out of service and needs a quick replacement, peer-to-peer rentals can help them fill an unexpected need more quickly, without paying a premium.
Both lower-cost rentals and agility responding to equipment needs help extend the profits businesses see from projects. Still, equipment they own remains a cost center. Fleet managers should know that peer-to-peer networks can have an impressive effect on the revenue they’re generating from each machine in their fleet, helping offset ongoing costs like maintenance or loan payments.
Rather than keep equipment idle during downtime between jobs or between phases of a project, fleet managers can list that equipment for rent on peer-to-peer equipment sharing networks. Renting equipment during the off-season, to contractors in different regions with different climates, can help contractors create year-round revenues and flatten the typical peaks and valleys of contract work.
As digital technologies continue to simplify productivity tracking, fleet managers will increasingly be called on to make smarter equipment investments and reduce machine downtime. Peer-to-peer equipment sharing can be seen as a strategic tool that helps fleet managers plan smarter, allocate resources more efficiently and extend their businesses’ bottom line.
By Erin Stephenson, COO and cofounder, DOZR
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