For the 7th edition of the Rental Roundtable, join Kyle Clements, Quipli Founder/CEO as we dive into over 50 years of rental experience with industry master Donald Charbonnet. From preparing your business for sale to expanding your operation to new locations, Donald will share the wealth of knowledge he has obtained over half a century in the rental industry.
Join us for an enlightening journey through four pivotal topics:
1. Exit Strategy Excellence: Learn strategies for ensuring a lucrative exit from your equipment rental business, including how to properly prepare your operation for maximum valuation.
2. Hidden Expenses Unveiled: Analyze the real deal behind full rental service costs and financial transparency. All of the costs that go into running an equipment rental business – and some that you might not be aware of!
3. Starting Fresh vs Starting Stable: Discussion around the pros and cons of starting your equipment rental business from scratch versus purchasing an existing location.
4. The Golden 3: Over 50 years in the industry Donald has amassed a wealth of career changing tips and tricks, in this segment he’ll share the top 3 tips that every equipment rental operator needs to know.
TIMESTAMPS:
0:00 Intro
09:10 How to prepare your rental business for sale
10:50 Why you need to know your DSO
13:20 Keeping track of equipment notes
15:05 Preparing your P&L Statement for an acquisition
19:20 Benefits of tracking expenses monthly
23:45 When is the right time to sell?
26:55 The hidden costs of operating a rental business
30:05 Should you increase your rental rates?
34:45 Balancing Gut Feel vs. Data in rental rates
36:00 Green Start vs. Acquisition
45:00 Advice for people starting from scratch
49:55 Top 3 lessons learned over 50 years
For more about Donald Charbonnet:
Email: charbconsulting@gmail.com
LinkedIn: https://www.linkedin.com/in/donald-charbonnet/
Book: https://www.amazon.com/SCREW-Comeback-Always-Stronger-Setback/dp/1697666698
For more about Quipli:
https://quipli.com/
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