01732 759725 48 Q&A View from the channel Q: How’s business; better or worse than 12 months ago? And how confident are you about the future? A: Business is on the up and has been since before and during COVID. Our rental model is assisting our drive as we’re finding that businesses have for a while now, been looking for ways to reduce their costs and not tie themselves into inflexible contracts. During COVID, with so many people working from home and no fixed end date, it made perfect sense for employers to rent printers to help support their home workers. Since COVID, where the home working model has continued, many of our customers are still renting printers for them, with more of an idea of when staff will be working from home and in the office. Looking ahead, if this flexible way of working becomes standard practice, which it appears to be, I think it’s positive for the rentals market. Q: In what areas are you experiencing strongest demand? A: The highest demand for us is in the short- to mid-term rentals market mainly for the reasons I’ve mentioned above. However, I think because we offer rental agreements which include maintenance and support services, businesses can see the benefit of renting from a convenience point of view. Not just a way to save money, because they still have access to reliable support for their equipment while not being stuck in a long-term contract. We are able to cover repairs, maintenance, and supply consumables which, like a normal lease or purchase contract, reduce downtime. Q: How have you changed/are you changing business operations to exploit new opportunities? A: We are having to increase our marketing expenditure to ensure we stay one step ahead of our competitors. In today’s market, competition is intense and, although Equipment Rentals and Sales Ltd have been in the market for over 25 years, we appreciate that we can’t stand still. We’re embracing the latest digital marketing methods which means we can increase our visibility, gain access to real-time measurement, and can change direction at a moment’s notice. Q: What do you see as the biggest challenges facing channel businesses today? A: I’ve spent more years in the industry than I care to remember, and it’s quite remarkable to see that the channel, and the way it does business, seems to be evolving rapidly. I think flexibility, the ability to adapt and the need for staff to learn new skills are the biggest challenges. Everywhere we look, traditional channels are diversifying, technology is metamorphosising, and demand is growing for cloud and IT-based solutions. Those that can be flexible and Michael Cole, Managing Director, Equipment Rentals & Sales Ltd adapt their business models, quickly, will be successful but if their staff are not developing at the same fast rate, there will be problems in taking the business forward. Q: Could vendors and distributors do more to help you overcome them? And if so, what? A: They could absorb some of the increases as we have had to. Obviously, they also face cost increases and challenges, that they need to absorb, but we are their main outlet. Without the dealer channel, vendors and distributors would struggle. In my opinion, vendors and distributors can be a bit inflexible when it comes to dealers who focus on rentals and selling older models. With everyone now focussing on cost-efficiency it would be refreshing if more vendors offered support to those dealers who provide rentals, which is a good way of helping customers to save money, and not just focussing on just those dealers who sell or lease new models. Q: If you could change one aspect of your job what would it be and why? A: I wish I understood more about how to make the most of the various social media platforms like Twitter, LinkedIn, Facebook etc. I appreciate that I need to make them more of a part of our digital marketing strategy but, personally, I find them all very time-consuming to view, let alone add articles or specifics to. It’s a technology I’m embracing though, but I always find myself asking ‘where did that hour go?’. Michael Cole www.equipmentrentals.co.uk
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