The expansion of the equipment rental business in urban areas is attributed to the increased construction activities to improve operational efficiency. The market demand is further fuelled by new infrastructure development projects and commercial investments in the real estate sector.
Gulf and European countries looking towards infrastructural development are more inclined towards renting heavy equipment to reduce their project cost. By choosing the rental option, the maintenance costs of heavy machinery can be reduced.
We will be highlighting some of the statistics to understand the demand for the online equipment rental business.
According to Mordor Intelligence, UAE Construction Equipment Rental Business is estimated to reach USD 6.17 Billion by 2028.
European Construction Equipment Rental Business is estimated to reach USD 41,070 Million by 2028.
With that said, the online equipment rental market is increasing at a great pace, and to manage business operations of the rental business seamlessly, entrepreneurs need a distinctive rental software solution.
Although, there are a variety of trustworthy rental software available in the market that are result-driven. I will discuss one-of-a-kind equipment rental software that can be a breakthrough for entrepreneurs planning to embark on the rental equipment journey.
Built with agile methodologies and backed by research YoRent is a scalable and fully customizable rental software solution.
This blog enlists some of the standout features of YoRent, for you to determine if it is the right software for your rental business.
With the diverse rental software solutions in the market, selecting the right one can be difficult. However, what makes one software better than the other is the right set of features.
The feature-rich software has to be rent-centric to yield results, as regular eCommerce software is not a viable option for the rental industry. All things considered, we will discuss some of the discernible features of YoRent for you to consider
With the greater demand for unique rental marketplace solutions, YoRent has very unique functionality to offer, a rent-and-sell feature that allows the renters on the marketplace to sell the products at a deal.
The rental industry and the demands of people are ever-changing. This allows the entrepreneurs to generate an additional income, other than renting.
For example, if the equipment has been rented for a long time, instead of trashing or selling offline. With this, it is easier to sell the equipment in the same marketplace.
Digitalization has changed the outlook on doing business, things that were done manually are now done with just a click. It saves a lot of time and manual work as the operations are automated and hassle-free with a lower risk of human error.
YoRent is in-built with a digital way of signing the contract between the renter and the customer. It is time effective and assures that all the formalities are done promptly.
Online Platforms have varied rental products to choose from, not only this, but with so many online rental products to choose from it can be challenging to switch between tabs. Choosing the right equipment after comparing it with a few others can be satisfactory.
Product Comparison in YoRent can address the problem by allowing customers to compare up to four different products and get a detailed comparison for customers to choose the right one.
Considering the demand for rental equipment, it gets difficult to manage complex and huge orders. Customers don’t miss out on price negotiations in case of bulk orders and consignments. The request for a quote along with the checkout cart in YoRent allows businesses to quote a price after evaluating the requirements, it enables price negotiation keeping in mind the competitor’s fixed price and helps in managing the invoice.
It is a completely white-label rental software solution. You can rebrand the software while YoRent stays anonymous and the team outsources and deploys.
The online equipment rental industry is booming and on that premise, it is the appropriate time for entrepreneurs to start an online equipment rental business. The aforementioned are some of the rent-centric features of YoRent, for entrepreneurs.
Considering the pain points of the rental industry, YoRent stands out by offering exclusive rental solutions. It comes with a lifetime license at a one-time cost, and a year free of technical support.