Equipment Rental Business Startup Tips – Software

The startup of any business is time consuming and can feel overwhelming. Simplify the start of an event supply or an equipment rental business by choosing software that helps manage the business by organizing inventory, managing equipment assets, creating invoices and contracts, and offering software technical support either online or by phone.

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As with any new business, it is important to study the existing equipment rental market, including party and specialized equipment rental organizations already operating in the area. A feasibility study helps streamline the marketing process you will need to take to attract and keep customers. Once the decision to begin the business is made, it’s time to select the rental software that’s most useful for your company.

Choose Pc software that Provides Reports and Contracts

Contract writing will be the main part of the business. Any rental will be documented and bound by the terms of the rental agreement. While there are contract forms for sale in word processing programs, they aren’t as detailed as those offered by rental applications. Also, regular computer programs don’t offer automatic tracking and drafting of documents based on business needs.

The best software will offer quote conversion so that you can quickly turn a session into a sale. It will also permit you to create client-specific databases to ensure that all of the pertinent information for long-term clients is in one single place within the program. These records could include customer-specific rates, rental contract adjustments, and timetables of rentals and returns.

Accounts Receivable

When the customer database is setup, an organized accounting program is important for tracking debts and collections. A separate accounting program is an option, but there are rental equipment applications that integrate accounting principals into its program. These accounting principals are usually suitable for other programs such as QuickBooks, so financial documents and reports can be sent to anybody not implementing the rental software.

The rental pc software should allow for the setup of credit card transactions, always check processing, including signature and photo verification options, purchase orders, sales reports, and investment and profits analysis. By utilizing one software system, employee productivity is increased since all information is input and accessed through one program.

Asset Management

After setting up the software to begin making money, it’s time to organize the assets of the company. Including any heavy equipment or party supplies. It’s important to know which equipment is scheduled for rent, which is to be returned, which is on a job, and which equipment needs repair or replacement. Databases within the rental software will organize this information, including detailed maintenance schedules for your mechanics and GPS location options for tracking the usage hours of heavy equipment.

Website Setup and Sales

Most organizations like to have a web site, and integrated rental pc software can help you to set up your own personal website and optimize it for optimum customer experience and sales. A website can increase productivity since clients can receive quotes, review contracts, and order rental products. The ease with which you can email and fax customers is also a big incentive to utilize both a storefront and a website for your start up business.