CRA Delivers Slam Dunk Program

Former NBA player Tim McCormick kicked off CRA’s Rental Rally Tradeshow yesterday, delivering an entertaining and motivating keynote address to seminar attendees. To a packed room, McCormick recounted numerous stories from his 10-year NBA career – stories involving greats like Michael Jordan, Kareem Adbul-Jabbar, Charles Barkley and more. He talked about injuries, surgeries, losses. And through all the experiences and relationships, he learned what it takes to succeed, not only in the professional basketball arena, but in life and business. According to McCormick, people who master these four principles, hard work, perseverance (or what he calls the bounce-back ability), brand excellence and CEO leadership (Confidence, Enthusiasm, Opportunistic) can become the Michael Jordan of their industry.

The second session of the day drilled down to the nuts and bolts of successfully running a rental center business. Gary Stansberry of The Stansberry Firm focused on the key performance measures that rental owners need to track to ensure they stay at the top of their game. The measures include revenues, payroll as a percentage of revenue, EBITDA/cash flow and financial (dollar) utilization of rental inventory. Rental center owners should know where they stand revenue-wise at any given time. He stresses the importance of comparing revenue reports (monthly, year-to-date, year-over-year) to identify trends and spot early warning signs if trouble looms. It’s also important for members to keep tabs on their payroll, as a percentage of revenue. If companies look consistently at these measures, they’ll get the ebb and flow of their business. And, credibility increases dramatically when owners can speak with knowledge, clarity and confidence about their businesses.

Thanks to the Mid-Atlantic Tent Renters Association (MATRA) for delivering these two informative and educational sessions to Rental Rally attendees. 

At noon, buses departed from the South Point Hotel. Party and event industry participants enjoyed a gourmet kitchen experience at Lupo, a Wolfgang Puck restaurant.

Equipment industry participants toured the new Snorkel/Xtreme factory in Henderson. The fabricating site, which will span 23 acres when development is completed next year, is impressive. It has room for 20 assembly lines, and 8,000 machines are anticipated to be built there this year.

Back at South Point after the tours, Rental Rally attendees were treated to a cocktail party in the Exhibit Hall, giving folks a sneak peek at what they’ll see today when the show floor opens. 

The 2017 tradeshow is off to a great start.