5 tips on how to be super efficient with your rental business

efficient rental business
As a rental business owner, you know that time is of the essence. There are always things that need to be fixed, and there isn't enough time to do them all. However, there are ways to be more efficient with your time so you can get more things done.

Share Article

Share on facebook
Share on linkedin
Share on twitter
Share on email

Before we dive into more specific tips and tricks, the general solution to the time problem is to get a good rental system with a seamless booking system. It will streamline your work routines endlessly.

Here are 5 secrets on how to be super efficient with your rental business:

  1. The benefits of self-service gateways
  2. Automate your workflow
  3. Outsourcing of marketing efforts
  4. Use software with integrations
  5. Product feature - Send pre and post rental notifications

The benefits of self-service gateways

A rental system with a booking system gives you the possibility to connect to a self-service system. This is an increasingly popular and user-friendly way for customers to pick up their rental product without the help of a store employee. Once a booking is made, the customer receives an automatic message on how to access the self-service gateway using a third-party solution such as SMS or a mobile app. The parcel, object, etc. can then be easily accessed without the need for further verification.

Self-service technology has absolutely revolutionised the rental business market and has significantly improved convenience for both customers and rental business managers.

Automate your workflow

Online booking systems or rental systems are becoming increasingly popular, because they are the most efficient way to automate the workflow of a rental business. This technology allows customers to book appointments or services directly through your website.

Not only does it save time by eliminating the need to answer emails or respond to calls, but online bookings can also help increase sales by making it easier and more convenient for customers to order equipment or service without having to wait for a representative. Furthermore, these tools also make the work of managing inventory and orders much easier, as all the necessary information is available from one central location. It also helps to eliminate the possibility of double bookings.

Investing in automated workflows is fast becoming essential for rental businesses looking to streamline their processes, improve efficiency and increase revenue.

Outsourcing of marketing efforts

When it comes to marketing your business, you have two main options: do it yourself or use a marketing or web agency. There are pros and cons to both approaches, and the best option for your business depends on a number of factors.

If you decide to do it yourself, make sure you take care of your website and that your images, keywords and content are optimised for the search engines. You'll also need to create a strong backlink strategy, as well as manage your Google profile and reviews. While this can be a lot of work, it can also be very rewarding to see your hard work pay off with increased traffic and sales.

But if you don't have the time or inclination to do all this work yourself, an agency can be a good option. They will handle everything from SEO to content marketing to email marketing, and they can often achieve better results than you would be able to achieve on your own.

Use software with integrations

Software integration is the practice of connecting and unifying different types of software parts or subsystems. Integration with external systems and tools not only helps you manage your business better, but also helps you expand your capabilities. With integrated solutions, you can improve customer engagement, automate administrative tasks, simplify complex rental processes and create an improved user experience for your customers.

It can include payment options that enable customers to make payments quickly with fewer steps in the process, thus improving satisfaction with your service. It also includes accounting software, self-service options and marketing tools that automate rental activities and streamline customer journeys.

It reduces manual work as well as errors from manual data entry, while giving you access to valuable insights into your business that can help you make informed decisions faster.

Product feature - Send pre and post rental notifications

Here's our latest secret on how to make your rental business more efficient. This one is more product-specific and one of our favourites.

Once a customer has made a booking through an online booking system, the company can send them an email or a text message confirmation, which will contain all the relevant information about the subscription or equipment reservation. This is a good way to ensure that there are no misunderstandings about when and where the rental will take place, and it also leaves a positive impression with the customer.

Furthermore, businesses can take advantage of pre- and post-rental announcements to maximise their earning potential. Consider emailing the user the day before the return time with an offer to buy or extend the rented product at a good discount. That way, you can get rid of the products before they are too worn out to be rented anymore and earn extra money at the same time. It's truly a win-win scenario for both customers and rental companies.

What are you going to do now?

When you are ready… here are 4 ways we can help you expand your rental business! 
  1. Do you want to grow your business today? Try Sharefox rental system for free - or book a demo and get a personal expert to analyze your company's situation, come up with solutions on how you can streamline your methods and create a more profitable company.
  2. To learn more about the Sharefox rental system , read about trends and news for free, visit our blog or visit our resources section in the main menu. Here you can download guides and e-books that we also share with our customers.
  3. If you want to work with circular economy , Saas and want to be part of the Sharefox team or find out why we are one of the fastest growing rental platforms in the rental industry, see our job postings here .
  4. If you have a good friend or know someone who would have found this article interesting, then feel free to share it with them via email, Linkedin or Facebook .

See more articles here

All-in-one platform - No coding required - Easy and fast to get started

Build your own rental business now.

Questions? Contact us or book a demo.