Welcome -- Bring on 2022!
by Clair Urbain, Editor, Publisher
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CLAIR URBAIN |
Now that we can look at 2021 in the rear-view mirror, let’s look forward to what’s in store in 2022. Some things simply won’t change much. Skilled and willing labor will continue to be in tight supply. Snarls and gaps in logistics will hopefully ease so the increasing demand for new equipment can be fulfilled.
The shortages in labor and equipment is fueling inflation concerns. We all have stories about how hard it is to find competent employees and how equipment back-orders have become the rule instead of the exception.
Those challenges can be rather daunting to those who have been blindsided by them. The key, in my opinion, is to plan ahead. This isn’t a crystal-ball exercise; instead, it’s going to take some far-reaching discussions with your employees, equipment suppliers and your bankers. What do they see coming in 2022? By getting a wide variety of perspectives from a variety of sources can help you devise a plan to make the most of 2022.
In some ways, the labor and equipment shortages can work in a rental center’s favor. Customers will increasingly consider renting tools and equipment over purchasing them to save CAPEX and increase flexibility. As tool and equipment manufacturers leverage technology to produce more efficient and productive models, renters will likely take more of a try-before-buy approach to next-generation models. This is especially true with Li-ion powered models gaining traction. From a rental standpoint, well-engineered Li-ion tools and equipment require much less maintenance, so rental turnaround time is fast. They can also be used in indoor and outdoor applications, increasing their flexibility to do more jobs and result in higher ROI.
I’m excited about what 2022 has in store for us. Bring it on!
This article originally appeared in the January-February 2022 issue of Pro Contractor Rentals magazine. ©2022 Urbain Communications LLC. All rights reserved.
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Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
