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1 Review5.0/5
Hey everyone, I'm one of the founders of EquipmentShare. Contractors often have a lot of equipment that sits idle for months at a time, and we provide a platform for them to rent those idle assets out to other contractors. I'd love to answer any questions you might have!
@_mattam How do you generate your revenue. Do you collect a commission from the renters or the lenders?
So what, in your opinion, makes the peer to peer mode more promising than, say, the Getable model of connecting directly w/ suppliers?
@chriswinsatlife Great question! The problem we see in the marketplace is the under utilization of contractor-owned equipment. EquipmentShare provides a new source of revenue for contractors by helping them rent out their unused assets. This provides a new pool of equipment to renters at prices substantially lower than those offered by traditional supply companies. EquipmentShare also gives contractors access to our telematics platform that lets them monitor their equipment's usage and location. Basically, we help contractors decrease costs on equipment rental and we also help equipment owners make money from assets that would otherwise by under-utilized.
@_mattam I'm curious why what is the difference between renting a tool from Equipmentshare.com and going to Lowes or Home Depot?
@dredurr We do have some power tools, but our focus is on equipment larger than you would usually find at Lowe's or Home Depot. Things like bulldozers, skid loaders, aerial lifts, tractors, etc.
@_mattam Oh! That makes more sense. Let's say I want to rent a crane, and I have zero experience operating a crane. Can I still rent one or do I have to have a license?
@dredurr For specialty equipment (or if you just aren't experienced) we can provide an operator. Most equipment does't actually require a license to operate, but we won't rent something dangerous to someone who isn't experienced. We talk with every potential renter and check them out before we approve them to rent equipment. Some of the equipment on EquipmentShare is big, and it's very important to us that a) renters don't get hurt and b) assets don't get damaged. *edit, for legal stuff: Certain states and municipalities have different licensing requirements in order to operate heavy machinery. We require that renters meet all the licensing and other requirements of the jurisdiction in which the equipment will be rented and/or operated. EquipmentShare reserves the right to impose additional requirements to ensure the safety of the operator and the equipment.
@_mattam Thank you so much for that answer. I love the problem that you guys are addressing. I look forward to you growth:-)