In the construction equipment rental industry, optimizing the profitability of machines is crucial to maintain competitiveness and ensure sustainable growth. Aerial work platforms, telehandlers, and other lifting equipment can represent a significant investment for rental companies. Over time, these machines may seem less efficient or attractive to customers. However, several strategies can maximize the profitability of well-used or long-standing equipment. In this article, we propose three ways to optimize the profitability of your lifting equipment.
1. Resort to refurbishment
Refurbishment offers a second life to your equipment and is a financially attractive solution to extend its lifespan. For example, Haulotte Refurb solutions offer you the possibility of preventive repair for your machines according to the manufacturer’s recommendations. Our technical experts check and restore all the core mechanical parts, such as the telescopic booms, the compensation cylinders, the weighing system, the reach limitation systems, welded assemblies, etc…
Refurbishing your equipment allows you to :
- Optimize your Total Cost of Ownership
- Significantly enhance your machines’ safety and reliability
- Target a residual value and invest on it
- Improve your machines’ lifespan
Most equipment manufacturers offer refurbishment solutions with multiple levels of intervention. It is important to choose the level based on the condition of the equipment and the changes you want to make: simply a refresh and inspection, or upgrades with the addition of innovations or options. Haulotte refurbishment offers included 3 levels of services:
Refresh: This option replaces visible parts such as labels, wheels, and paint to give your equipment a fresh look. By erasing signs of wear, your machine looks new again, increasing its rental value.
Refurb: This option repairs and replaces major mechanical parts to maintain safe operation and optimize the total cost of ownership. It significantly enhances the safety and reliability of your machines, extending their lifespan.
Upgrade: Add new functions or technologies to your equipment to increase performance, provide user comfort, and maintain good resale value with manufacturer certification.
2. Hire an equipment maintenance service provider
Maintaining a fleet and adhering to inspection schedules is not easy, and finding and retaining qualified technicians can increase the workload. Hiring an equipment maintenance service provider, such as those offered by Haulotte, can relieve fleet owners of the burden of maintenance and repairs.
- All-In-One Solution: These providers offer standardized processes and rates for on-site maintenance and repair, simplifying fleet management.
- Dedicated Technicians: Dedicated technicians perform repairs directly on-site, ensuring quick and effective interventions.
- Preventive Maintenance: Using telematics data, an optimal preventive maintenance program can be designed to maximize the value of your fleet by reducing downtime and extending the lifespan of your machines.
3. Use the telematics insights to boost your productivity
Gathering and evaluating equipment data is essential for enhancing productivity. Telematics devices, when integrated with worksite management solutions, enable companies to track vital information about their equipment, such as fuel consumption, engine temperature, fluid levels, and operating hours. By utilizing this data, operators and managers can optimize equipment usage and proactively address maintenance needs.
Effective management of your fleet is essential to improve profitability, telematics insight can help to do that better way. You’ll be able to track the usage, maintenance, and movements of your equipment and then:
- Maximize Utilization: Optimized management maximizes the utilization of your machines and reduces downtime.
- Identify Underutilized Machines: Identify underutilized machines that could be better allocated or sold to reinvest in new equipment.
- Data Analysis: Regular analysis of usage data provides valuable insights to optimize resource allocation and improve fleet efficiency.
By optimizing the utilization rates and rotation of your fleet, you will be able to evenly distribute the wear and tear of your equipment among different machines. Although a portion of the obsolescence of the machines is related to how end users use them, it is crucial to utilize all possible levers available to a fleet manager.
