Equipment Purchases

Thank you to all who take time to participate in our surveys. CRA uses the information we gather to better serve you. If you have an idea for a survey for CRA members, please send your request to CRA at Info@CalRental.org. This month, we asked members their equipment purchases. 

1. What type of Rental Business do you have?
General Rental: 59% (17 responses)
Party Rental: 24% (7 responses)
Both: 17% (5 responses)

2. How do you do your research for equipment purchases? (Check all that apply.)
Customer Request: 69% (20 responses)
New Vendor: 55% (16 responses)
Existing Vendor: 79% (23 responses)
Social Media Ads: 0% 0 (responses)
Magazine Ads: 17% (5 responses)
Recommendations from Others: 76% (22 responses)
Websites: 38% (11 responses)
Other (please specify): 21% (6 responses)
1. Conventions (when they happen).
2. A mixture of customer request, trend and recommendation from others. It worked for me all these years.
3. Auctions.
4. We listen to other rental companies to see if they have items that are working very well from our area.
5. Attending Rental Shows.
6. 38 years of buying experience.

3. Length of time from research to purchase? (Select all that apply.)
See It and Buy It: 41% (12 responses)
2 to 3 Days at a Tradeshow: 62% (18 responses)
Other (please specify): 38% (11 responses)
1. Depends on finances.
2. Some items, I see it and buy. Others, I check with my team and vendors/associates.
3. As needed.
4. Have money in bank, then buy.
5. Depends on the current need.
6. Many other factors, ROI, parts availability, reputation, etc.
7. Usually a few weeks after some careful analysis.
8. See it, research financing options, debate it, worry about future payments, maybe buy it.
9. Planned acquisition.
10. 3-4 weeks.
11. Usually 30 days.

4. How do you get your reviews? (Select all that apply.)
Call competitors: 41% (12 responses)
Word of mouth: 66% (19 responses)
Social media groups: 24% (7 responses)
Websites: 55% (16 responses)
Other (please specify): 14% (4 responses)
1. I don’t understand what you mean by reviews.
2. A mixture of talking with competitors and website/market research.
3. Advisory groups.
4. Client feedback.

5. Do you purchase equipment all year long?
Yes: 93% (27 responses)
No: 7% (2 responses)
Additional comments:
1. We try to buy it all in January & February.
2. Majority usually at the show.
3. Yes, I do, however I like to attend trade shows in case there is something new that I haven’t seeing.
4. Every 10 years or so.
5. Not this year, though.

6. What is your annual reinvestment based on gross revenue?
1%: 0% (0 responses)
5%: 16% (4 responses)
10%: 52% (13 responses)
20% or more: 32% (8 responses)
Additional comments:
1. Maybe a little more or less depending on cash available.
2. 10-20%.
3. It depends on the year. I purchased far too much this year, hopefully the trend and demand will get back in 2021.
4. Replace when it’s needed.
5. Depends on current cash on hand.
6. In the old days.
7. Between 10 and 20%. Depends on business. We are very busy this year so will probably be closer to 20%.

7. Do you have any additional comments on this survey?
1. You have to spend money to make money!
2. This year is the first time we have bought some used and refurbished equipment. Bought 4 refurbished booms, 1 new telehandler and we are considering 3 other large units thru either a broker or auction.
3. I have found industry trade shows to be very useful. I started this business from scratch without experience and mentor. Attending trade shows has given me the opportunity to network and l learn from other business owners. Will I attend next year? Yes. Will I purchase? I have a clear top tent in the pipeline but will get it from my current supplier with whom I have an established relationship. Will I purchase other items? At this stage, I don’t know. My season has been shattered by the pandemic and with all the current uncertainties everything is up in
the air with my bookings, postponed events and cancellations keep coming on a daily basis. We depend on tourism and, our island, which is a wedding destination place, has been pretty much closed with our ferry system running on the winter schedule since last March.
4. If you don’t buy, you don’t have the depreciation expense and your taxes skyrocket (in profitable years).

8. Survey ideas
1. Where do you search to find different types of new hires?
2. Tax avoidance like Trump.