Rentaly June/July 2020 by ForConstructionPros.com

SNEAK PREVIEW FACE THE FUTURE Dick Detmer suggests how to create a positive outcome from a tough situation.

June/July 2020

CRISIS CONTROL 2020 BUSINESS SURVIVAL GUIDE

SPECIAL SECTION

SOFTWARE & TRENCHERS

Find the latest news at www.ForConstructionPros.com/RENTAL

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6/4/20 4:21 PM

NEW TORO E-DINGO ELECTRIC COMPACT UTILITY LOADER ®

NO GAS, JUST GREEN

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™

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6/1/20 3:57 PM

VOLUME 00 ISSUE 0

JUNE/JULY 2020 SPECIAL ISSUE: 2020 BUSINESS SURVIVAL GUIDE

COVID-19 has changed everything, including the art of running a business. In this issue, we’ll focus on some key considerations for navigating this era, including: - Return of the Workforce (16) - How to Connect During Crisis: Email Marketing and COVID-19 (20) - Develop a Six-month Plan to Ensure Post-pandemic Survival (24) - During the COVID-19 Crisis, a New Type of Business Borrower Emerge (26)

IN EVERY ISSUE 06 Everybody’s Business Existing in the Age of COVID-19

08 Market Watch 12 New Products 36 Industry Update 42 Eye on Rental During a time of crisis like the COVID-19 pandemic, you can make the future as bright or brighter than ever with just a few simple considerations.

SOFTWARE

New Technologies Help Make Projects Safer from COVID-19 Contractor takes on unprecedented risks by innovating new safety protocols integrated with new monitoring technologies.

RENTER SOLUTIONS

Diversification into Vacuworx Lifting Systems Benefits Bottom Line Bottom Line’s founder established the company with modest intentions of buying and selling used equipment. After Hurricane Katrina, that all changed.

TRENCHERS

Best Practices for Extending Trencher CTS Life Users looking to extend the life of trenchers must conduct routine maintenance and equipment care.

www.ForConstructionPros.com/RENTAL

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JUNE/JULY 2020

6/1/20 3:58 PM

VOLUME 00 ISSUE 0

CONTENTS

JUNE/JULY 2020

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Designed With You in Mind

BUYER’S GUIDE

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IN EVERY ISSUE

www.ForConstructionPros.com/RENTAL, and scroll for Get all the latest information the latest reports. Whether you’re using your desktop, pertaining to the topics that laptop, tablet, or smartphone, you get the same simple-tomatter most SECTION to your business. TOC navigate experience, only faster than ever before. LookArticle here dailyTitle for the news andTOC information you need description no Indent. Idi dioriae most. To subscribe, go to debisto exceatem eos perovitatium exeratio

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Article Title Rental and TOC description no Indent. Idi dioriae Construction perovitatium exeratio debisto exceatem eos It’s easier than ever to find the industry news discitfagu magnatio. Market and information you need to run your equipment Updates rental business. Just point your browser to

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CP 5,0

RENTAL/inventory features the industry’s most comprehensive guide to construction-related products and equipment. Visit ForConstructionPros. com/RENTAL and click on the New Equipment Directory for the most 00 Everybody’s up-to-date list of what today’s Business leading manufacturers have to offer.

00 Manager’s Digest

NEWS FEED

00 Market Watch Genie Provides COVID-19 Cleaning B. Protocols for Aerial Equipment Genie is now offering new procedures and 00 New Products protocols for cleaning and disinfecting aerial

equipment on jobsites to C. help prevent the spread of COVID-19 while working at height.

www.forconstructionpros.com/21134630

00 Industry Update Crane Collapse Fatalities are D. Preventable Crane collapses in major cities have topped headlines, but investigations often conclude these onsafety Rental accidents are preventable00 withEye proper processes and operating E. procedures.

www.forconstructionpros.com/21134320

JUNE/JULY 2020

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www.ForConstructionPros.com/RENTAL

6/1/20 3:59 PM

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6/1/20 4:00 PM

EVERYBODY’S BUSINESS // B y

Alexis Brumm

abrumm@ACBusinessMedia.com

Existing in the

AGE OF COVID-19 In today’s crisis-laden world, learning new tools, rules, and practices for your business may help you thrive.

hat a time to circumstances that none start a new of us have ever encounjob. tered before. In this turbulent For instance, employera, when society is at a ment. The country has standstill and our lives seen the highest unemhave done nothing but ployment rates in history, change, it’s hard to imagwith millions of peoCOVID-19 ine starting a new role, ple laid off, furloughed, joining a new company, HAS ALTERED moved to part-time, and stepping into some etc. This month’s artiOUR PLANS, mighty big shoes that cle, “Return of the BUSINESSES, you’re hoping to fill. Workforce” discussBut here I am. If you AND es a webinar held by missed my introducthe Ogletree Deakins EVERYTHING tion blog on the website Law Firm about get(shameless plug), I’m the IN BETWEEN. ting employees back into new editor of Rental. I work, the issues employhave almost 10 years of ers may encounter, and experience in the construcstrategies to minimize any tion industries and have risks in the process. dabbled in everything from water Although there are negatives to well drilling and geospatial technolothe crisis, positives can come out of it. gies to heavy equipment and asphalt. We’ve seen it already with companies But now I’m here, and I’m ready to donating time, effort, and resourcembrace the changes – and boy, are es to help those who are struggling there a lot of them. and those who are working tirelessThe whole world has changed in ly on the frontlines. In Dick Detmer’s ways that are both apparent and unfacolumn, he speaks to these challengmothable. COVID-19 has altered our ing circumstances as being proving plans, businesses, and everything in grounds for leadership. That findbetween. I’m sure many of you are ing new ways to connect can bring tired of talking about it, let alone rewarding benefits in the long run. hearing about it. But unfortunately, That’s the type of optimism we it’s our new reality. need, as we focus on surviving and That’s why we decided to switch thriving in the age of COVID-19 and our issue focuses around a bit and the current business climate. make this issue our Business Survival And I hope that this issue—my Guide. Because, for many comfirst here with Rental—helps you do panies out there, this period is all just that. about surviving. It’s about learnStay strong, stay smart, stay safe. ing a new normal, while navigating Alexis Brumm

JUNE/JULY 2020

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™

PRODUCT NEWS INSIGHT ■

■

www.ForConstructionPros.com/RENTAL Published by AC Business Media 201 N. Main Street, 5th Fl Fort Atkinson, WI 53538 (800) 538-5544 www.ACBusinessMedia.com

Publication Staff Publisher

Eric Servais eservais@ACBusinessMedia.com

Editor

Alexis Brumm abrumm@ACbusinessMedia.com

Columnist

Dick Detmer

Senior Production Manager

Cindy Rusch

Art Director

Willard Kill

Audience Development Manager Angela Franks

Advertising Sales (800) 538-5544 Kris Flitcroft

kflitcroft@ACBusinessMedia.com

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Denise Singsime

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www.ForConstructionPros.com Digital Operations Manager

Nick Raether nraether@ACBusinessMedia.com

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Editor

Larry Stewart lstewart@ACBusinessMedia.com

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Change of Address & Subscriptions — PO Box 3605, Northbrook, IL 60065-3605, Phone: (877) 201-3915 Fax: (847) 291-4816 • circ.rpn@omeda.com List Rental — Jeff Moriarty, SVP, Business & Media Solutions Infogroup, Phone: (518) 339-4511, Email: jeff.moriarty@infogroup.com Reprints — Erica Finger, efinger@ACBusinessMedia.com

AC Business Media Chief Executive Officer Chief Financial Officer Chief Digital Officer Chief Revenue Officer VP Audience Development Director of Digital Operations & IT Director of Digital Strategy Group Content Director

Barry Lovette JoAnn Breuchel Kris Heineman Amy Schwandt Ronda Hughes Nick Raether Joel Franke Jon Minnick

Published and copyrighted 2020 by AC Business Media. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage or retrieval system, without written permission from the publisher. SUBSCRIPTION POLICY: Individual subscriptions are available without charge in the U.S. to rental centers, equipment distributors, and other businesses with rental departments. To subscribe please visit www.ForConstructionPros.com. Publisher reserves the right to reject nonqualified subscribers. One year subscriptions for nonqualified individuals: U.S. $35.00; Canada and Mexico $60.00; and $85.00 all other countries (payable in U.S. funds, drawn on U.S. bank). Single issues available (prepaid only) $10.00 each. Rental (ISSN 2375-9925, Print | ISSN 2471-7657, online | USPS 686-370) is published eight times per year: January/February, March, April, May, June/July, August/September, October/November and December by AC Business Media, 201 N. Main Street, 5th Fl., Fort Atkinson, WI 53538. Periodicals postage paid at Fort Atkinson, WI and additional entry offices. POSTMASTER: Please send change of address to Rental, PO Box 3605, Northbrook, IL 60065-3605. Printed in the USA. Vol. 42, Issue 4, Month 2020

www.ForConstructionPros.com/RENTAL

6/1/20 4:10 PM

Reliability. Rentability. DONE.

up,

t d s SA.

The difference is clear. The difference is DEERE. Being built for rental performance means these machines tackle the toughest jobsâ&#x20AC;Śagain and again and again.

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6/1/20 4:10 PM

MARKET WATCH

MOODY’S EXPECTS EQUIPMENT RENTAL INDUSTRY TO BUILD LIQUIDITY FOR SHORT-TERM RESILIENCE In a Sector In-Depth report released April 28, Moody’s Investors Service concluded the equipment rental industry will build liquidity for short-term resilience. As the economic downturn deepens throughout the next several months, demand for the industry will decline, the report says. Highlights from the report include: Although deemed an “essential” industry, the use of rental equipment will slow as construction projects are put on hold across the United States. Equipment rental will likely decline 10% to 20% from 2019 levels, in the near term. As equipment rental companies cut capital spending and sell used equipment, their liquidity will strengthen, especially as they continue to collect rents and sell used equipment. The industry, which was experiencing a slowdown in the fourth quarter of 2019, has been boosting liquidity for months, in anticipation of a sluggish 2020. Cuts to spending by equipment rental companies will put a stress on equipment suppliers and the supply chain.

TWO-THIRDS OF AGC CONTRACTORS REPORT CORONAVIRUS PROJECT DELAYS OR CANCELLATIONS Weekly surveys by the Associated General Contractors on project-site conditions show increasing erosion of construction-project momentum across the U.S. While 30% of firms report projects halted by government order, 37% say their owners voluntarily stopped work out of pandemic fears. Thirty-one percent report owners have canceled projects because of a predicted drop in demand. And 21% of contractors say projects have been canceled as a result of a loss of private funding.

If the economic downturn continues long term, the industry will experience cash flow challenges. If the recession lasts longer than a few quarters, the initial cash flow benefits experienced by equipment rental companies will not be sustainable. Equipment rental companies reviewed for the report include United Rentals (Ba2 stable), Herc Rentals (B1 stable), H&E Equipment Services (B1 review for downgrade) and Ahern Rentals (B3 review for downgrade). The report also rated Ashtead Group (Baa3 stable) out of Europe, which has a large presence in the United States operating as Sunbelt Rentals. One factor that will mitigate the decline in the equipment rental industry is the use of rented emergency equipment, such as aerial work platforms and cranes, during the COVID-19 pandemic. To read more, visit www.forconstructionpros.com/21131006.

JUNE/JULY 2020

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For more, go to www.ForConstructionPros. com/21133104.

www.ForConstructionPros.com/RENTAL

6/1/20 4:17 PM

JOBLESS CLAIMS POINT TO FURTHER U.S. EMPLOYMENT DECLINES IN MAY

→

Initial jobless claims declined for the sixth straight week from their peak of 6.8 million at the end of March, but the rate has slowed substantially. The 3 million claims filed last week brings the eight-week total to 36.5 million. Persistent seven-digit initial unemployment figures are discouraging, but the U.S. Department of Labor report held a major bright spot — continuing claims, which lag a week, were essentially flat, at 22.8 million. Continuing claims serve as a gauge of how quickly the economy can ramp up after state businesses “re-open” and the efficacy of the Paycheck Protection Program. The plateau in continuing claims is an early sign that employers are calling back employees. New hires nearly offset layoffs. Ten million initial claims have been filled since the April nonfarm survey, but evidently hiring has begun to pick back up. The net loss in May employment therefore should be much lower. For more information, visit www.forconstructionpros.com/21133532.

COVID-19 Trips Up Dodge Momentum in April

he Dodge Momentum Index moved 6.0% lower in April to 135.9 (2,000=100) from the revised March reading of 144.5. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.

OVID-19 (coronavirus) had a significant negative impact on the economy in April, touching virtually all sectors — including construction. Planning activity clearly downshifted, although that downshift has not been fully realized in the published index since the Momentum Index is a three-month moving average. This sets the stage for an even weaker reading when the May data is released in June.

Why the ‘Essential’ Construction Business is Setting Records For Steep Decline Construction is considered “essential,” or a critical part of other “essential” industries for the purposes of coronavirusrelated stay-home orders, but new industry research shows that the money backing private projects apparently defines “essential” differently. AGC Chief Economist Ken Simonson cautioned that recent, vague revisions by the Treasury Department to its guidance for the loans have prompted 18% of firms to considering returning the funds, and most of these will be forced to cut staff as a result. Simonson added that is one reason why 12% of firms report they plan to make additional layoffs within the next four weeks. “Unfortunately, our survey indicates that layoffs are continuing to occur throughout the nation,” Simonson added. “Between March 1 and May 1, 39% of responding firms reduced their headcount. Reductions were particularly severe in the northeast, where 53% of firms terminated or furloughed employees. The south had the fewest firms reporting staff reductions—29%, while 38% of firms in the midwest and 45% in the west reduced headcount.” AGC is calling on federal officials to take additional steps to prevent more industry layoffs. Among those steps is clarifying the guidance regarding the paycheck protection program. He also noted that 61% of survey respondents say Congress should enact a “safe harbor” set of protocols to protect firms that are following safe practices from tort or employment liability in the event of a COVID-19 infection. To read the whole article, visit www.forconstructionpros.com/21132612.

www.ForConstructionPros.com/RENTAL

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6/1/20 4:17 PM

MARKET WATCH

TREASURY CONFIRMS PAYCHECK PROTECTION LOANS UNDER $2M ARE IN “GOOD FAITH”

→

New guidance on May 13 from the U.S. Treasury Department and Small Business Administration on the Coronavirus Aid, Relief and Economic Security (CARES) Act’s Paycheck Protection Program (PPP) clarified applications that qualified. The forgivable emergency loans are meant to support small businesses hurt by the coronavirus crisis. Construction firms took the largest share of any industry form the first tranche of funding, which was doled out in 13 days, so the clarification of eligibility for this program is important. “I see the ‘imputed’ good faith necessity for all PPP loans under $2 million as being a very significant and positive development and likely unexpected throughout the business community,” says Ken Logsdon, a partner at the law firm Dorsey & Whitney who has been helping small businesses and banks navigate the program. Treasury Department scrambling to understand how to administer the loans even as funds were running dry had created some challenges. Shortly after Treasury Secretary Steven Mnuchin promised PPP loan audits and warned of “criminal liability” for false certifications of need, an AGC’s Coronavirus survey found 82% of member contractors had been approved for PPP loans. Mnuchin’s comments came on the heels of finding that large publicly traded corporations had taken some of the first PPP loans, and subsequent guidance requiring borrowers to show at the time of application how their business activity and access to other sources of liquidity justify the loan. That same AGC survey measured 21% of contractors considering returning their loans or withdrawing applications. “Any borrower that, together with its affiliates, received a PPP loan with an original principal amount of less than $2 million will be deemed to have made the required certification concerning the necessity of the loan request in good faith – thus, if a borrower received a PPP loan under $2 million and was otherwise eligible, but uncomfortable with the needs based certification should now be comfortable keeping the loan and applying proceeds as directed under the PPP.” Treasury’s guidance document explained: “SBA (Small Business Administration) has determined that this safe harbor is appropriate because borrowers with loans below this ($2 million) threshold are generally less likely to have had access to adequate sources of liquidity in the current economic environment than borrowers that obtained larger loans.” With so many PPP loans approved in less than a month, the approach will allow SBA to focus its audit resources on larger loans, where compliance-enforcement efforts can yield better returns.

To read more about the PPP loans and the recent guidance, visit www.forconstructionpros.com/21133724.

Confidence in Equipment

Finance Market Begins to Improve The Equipment Leasing & Finance Foundation released the May 2020 Monthly Confidence Index for the Equipment Finance Industry (MCIEFI). Overall, confidence in the equipment finance market improved with an index of 25.8, up from the historic low in April of 22.3. The Foundation also released highlights of its newly launched COVID-19

Impact Survey of the Equipment Finance Industry, a monthly survey of industry leaders designed to track the impact of the coronavirus pandemic on the equipment finance industry. From 101 survey responses collected from May 4-8, results show that 93% of equipment finance companies have offered payment deferrals. A large majority (88%) of companies have not

furloughed or laid off employees. construction firms (less than $20 million in annual revenues) have experienced significantly greater reductions in work hours than medium-sized and large firms. Learn more at www.ForConstructionPros. com/21133334.

JUNE/JULY 2020

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www.ForConstructionPros.com/RENTAL

6/1/20 4:18 PM

FROM THE DRAIN LINE TO YOUR BOTTOM LINE

Flexicore Cables ®

The soul of General drain cleaners is our time tested tough Flexicore® cable. We wrap heavy gauge wire around 49-strand aircraft-type wire rope to get the right balance of strength and flexibility, so you get fewer returns with kinked or broken cables. Flexicore construction is low maintenance, kink-resistant, and durable. It comes back intact—and that strength goes straight to your bottom line. To learn more, call the Drain Brains at 800-245-6200, or visit www.drainbrain.com/rental

M A D E I N U SA

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6/1/20 4:18 PM

new

 Toro e-Dingo 500 Compact Utility Loader

PRODUCTS  Mecalac AS Swing Loaders The AS swing loaders provide the ability to simultaneously drive, operate, and rotate, making them especially suited for

urban and other limited space jobsites. • Incorporate a one-piece frame and a 180° swivel arm that pivots instead of requiring repositioning of the machine • Arm can be turned 180° once the rear axle is locked to ensure stability • Two-wheel, four-wheel steering and crab steering modes • Small turning radius ensures a high degree of maneuverability even on congested sites • Four models offer 14,638- to 33,070-lb. operating weights, 75to 175-hp engines, and bucket capacities from 1.2 to 4 cu. yds. www.forconstructionpros.com/21123342

Toro has made a major step into the electricpowered equipment marketplace with the introduction of the e-Dingo 500 compact utility loader. The e-Dingo allows end users to realize all the benefits and power of a standard compact utility loader with no fuel costs and zero exhaust emissions. Suited for indoor construction jobs that require fast completion times and reduced overall costs, it will be available in spring 2020 through the company's dealers and rental partners. • Powered by lithium-ion battery technology designed for tasks that require heavy or continuous operation for indoor applications • Maximum operating capacity of 515 lbs. • Features 4-Paw independent four-wheel drive system and true spin-turn performance. • Compatible with several existing Dingo attachments • Allows operators to utilize several power modes to conserve energy including Auto Idle feature

 Mustang AL 608 and AL 708 T Articulated Loaders The AL 608 standard and AL 708 T telescopic loaders offer 10° oscillation and 45° articulation plus front and rear locking differentials with one-button activation of four-wheel drive. • AL 708 T features a telescopic arm that extends to 16 ft., 6 in. for a maximum capacity of 7,714 lbs.

 JLG 670SJ Self-Leveling Boom Lift JLG Industries introduced the 670SJ self-leveling boom lift, which increases a lift's capability on slopes 0° to 10° in any direction with the boom elevated. • Improved ability to traverse uneven surfaces while keeping the chassis level and improve traction capability on sloped ground • 67 ft. platform height boom lift with 550-lb. unrestricted, 750-lb. restricted capacity

• Include standard proportional auxiliary hydraulics and an inching pedal

• Offers 45% gradeability

• Cab includes a standard digital display, seven-way adjustable seat, fully adjustable steering column and arm rest, and multi-function joystick

• 57 ft., 1 in. horizontal reach

• Power-A-Tach hydraulic attachment system standard

• Elevates to full height or back to ground level from full height in just 101 seconds

www.forconstructionpros.com/21123132

• Automatically levels on grades up to 10° when in self-leveling mode

 ANA Inc. SDG125S-8E1 Generator

• Standard mode for driving with the boom down at faster speeds; shipping mode allows the suspension to be lowered during transport • Smart suspension results in a foot more platform height • Reduces or eliminates manual labor and time required to set up cribbing and/or grade the work area • Allows the boom lift to get closer to the work area, maximizing its reach capabilities and minimizing the need for larger, higher reaching lifts as backup • Decreases platform movement during travel improving operator comfort and reducing the risk associated with movement of objects within and/or falling from the platform www.forconstructionpros.com/21124286

• AL 608 offers a maximum capacity of 6,409 lbs. for a lift height of 10 ft. and is available with a Tier 4 engine

JUNE/JULY 2020

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ANA Inc.’s SDG125S-8E1 is rated at 100kW Prime and 110kW Standby power. Powered by a 147.9 HP Isuzu engine, this unit provides 328 amps at three-phase 208V and 300 amps in single-phase 240V with over 24-hour runtime. The generator is configured with an automatic voltage regulation (+/- 0.5%) and an exterior potentiometer, allowing for the widest range of voltage selection. Positioned inside the cabinet is a lockable three-way selector switch, providing safety and protection for the generator end.

www.ForConstructionPros.com/RENTAL

6/2/20 9:23 AM

ns.

 Dewalt 60V Max Flexvolt Reciprocating Saw

Dewalt recently upgraded its 60V Max Flexvolt Reciprocating Saw DCS389. The DCS389 received new motors, software, and controls. • Up to 19% more power • Power of corded with the freedom of cordless • 0 - 3,000 spm and 1-1/8 in stroke length for fast and efficient cutting • Keyless lever-action blade clamp for quick and easy blade changes • Variable-speed trigger allows user to instantly control speed • Pivoting shoe provides leverage for different applications • LED helps illuminate dark jobsite work areas • Rubber overmold grip for comfortfor -40°F or -100°F pressure • Full instrumentation package provides ready indication of a system malfunction • High-pressure models available

 Kohler Command PRO EFI Propane Engine

 Tobroco GIANT G3500 Compact Wheel Loader The GIANT G3500 articulating loader is available with a standard Z-bar, X-Tra high-lift capacity, high-visibility, or Tele boom (telescoping boom) for high reach and high lift. Rated operating capacity ranges from 2,535 to 4,300 lbs. A 66-hp Kubota Tier 4 Final diesel engine comes with a diesel oxidation catalyst and DPF. The hydrostatic four-wheel-drive with Bosch Rexroth automotive control and 100% switchable differential lock on both 14-ton axles prevent the machine from losing grip even on loose soil, snow, etc.

The 22-hp Command PRO EFI (model PCV680LE) twin-cylinder, vertical-shaft propane engine substantially lowers exhaust emissions due to an integrated catalyst and optimized fueling. • Cleaner-burning, more fuelefficient alternative for commercial equipment • Produces over 80% fewer exhaust emissions • Optimizes performance by automatically adapting to operating conditions • Offers automotive-like turnkey starting www.forconstructionpros.com/21133813

www.forconstructionpros.com/21133523

 Yanmar SV40 Compact Excavator The 9,206-lb. SV40 ultra-tight tailswing excavator boasts power, flexibility, and stability in a compact package and is the first of the company’s compact equipment line to be offered in the new premium red color. • 39-hp electronically controlled YanmarTier 4 Final diesel engine • 11-ft., 3-in. digging depth • Ultra-tight turning and boom swing enable work in confined spaces • VIO progressive three-pump hydraulic system (VIPPS) • Cab comes standard with ECO Mode, Auto-Decel Mode, and backfill blade levercontrolled with float position, two-speed operation, and an LCD monitor • SMARTASSIST remote communication system • Standard hydraulic quick coupler • Options include a second PTO function, four- or six-way blade, and an additional counterweight • Available in cab or canopy • Comes with a four-year/4,000-hour warranty www.forconstructionpros.com/21131888

www.ForConstructionPros.com/RENTAL

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JUNE/JULY 2020

6/2/20 9:23 AM

new

PRODUCTS

Rental eSign & Pay The first electronic signature solution built for the rental industry, Rental eSign allows businesses to collect secure signatures via email or a tablet instore. Now it also accepts payments if needed, making it easy to practice social distancing while continuing to provide benefits when operations fully resume. The cloud-based product gives businesses the ability to: •

Make signature collection easier via email

•

Store signed documents online in a searchable database

•

Access anywhere with a log-in and an internet connection

•

Create a contactless checkout experience Made by Point of Rental, eSign & Pay is an independent product, so it works no matter what rental software your business uses. It’ll even work if you’re not using any rental software. To help rental companies as they get back to business, Point of Rental is making eSign & Pay available for free for 90 days, including free setup. To start, fill out the form at pointofrental.com/esign.

JUNE/JULY 2020

0620RPN_12-15_NewProducts.indd 14

Rental360 Rental360 is more than a rental solution; it is a complete framework through which equipment rental companies can run their business. Embedded in the Acumatica Cloud ERP platform, Rental360 leverages today’s technology and ongoing innovation to empower businesses to make rental management modern with: •

Insight into and across your business

•

Workflows that help you operate more efficiently

•

Mobility that gives 24/7 access to work remotely

•

The secure, dependability of the cloud

•

Tools to stay top-of-mind with customers

•

A single platform that provides end-to-end functionality

Developed with a deep understanding of and focus on the rental industry, Rental360 connects all facets of a rental business by managing inventory, tracking depreciation, enabling activity management and customer portals, and tying rental activity to financials and other back office systems. Rental360 is certified by the American Rental Association.

www.ForConstructionPros.com/RENTAL

6/2/20 9:24 AM

 Skyjack ELEVATE Live ELEVATE Live breaks barriers and promotes operator engagement by providing access to simplified telematics data and machine-specific familiarization to anyone with an internet connection. •

Stops costly on-site service calls due to operator error.

 Sycor.Rental

•

Remotely indicates when machine settings are incorrect providing quick resolution.

Sycor.Rental is a fully integrated equipment rental solution based on Microsoft’s ERP system, Dynamics 365 Finance and Operations. By combining the unique processes of equipment rental with the Microsoft Dynamics stack of technologies, Sycor.Rental helps you increase efficiency and improve your bottom line.

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Analysis of lifting, driving, load, and total run time provides true working time.

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Looks beyond machine runtime in order to generate accurate reports.

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Targets battery replacement costs by providing battery health and treatment analysis.

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Sends critical machine faults to key personnel for immediate action.

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Customers own the data generated by their fleet, unlike other platforms.

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Manage data through ELEVATE apps and/or API data feed.

Whether you need support with rental, finance, inventory, service, or sales, everything you need to manage your business is in one platform. Sycor. Rental allows you to track all costs, revenue, and margins at the group level or down to a single item. Get a real-time view of the availability and condition of your equipment. Use the graphical planning board, featuring drag and drop, to schedule your equipment across any of your locations in real-time. Also take advantage of predictive maintenance to dramatically improve efficiency.

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 Orion Web Cart To improve your business during this difficult time, you can provide a Web Cart to your customers in less than two hours. Orion Software offers a free two-month trial for going online with your web portal. It takes two hours to set it up for free. With the complexity of doing business face-to-face, you can continue to rent your equipment online and keep your business running. You can also offer account payments online with statement of accounts. Our web cart can be added to your website to redirect your customers to your customized cart and download our mobile app. Once you have the mobile app installed, you can send notifications to promote your products. You can select the look by uploading your logo and your own images. It’s a complete solution working in realtime.

JUNE/JULY 2020

6/2/20 9:24 AM

BUSINESS SURVIVIAL

FEATURE

By Alexis Brumm

RETURN OF THE

WORK FORCE The country is starting to reopen after the COVID-19 pandemic, so what does that mean for employers getting employees back into the workforce? There may be more things to consider than you thought.

fter months of stay-at-home and shelter-in-place orders caused by the COVID19 pandemic, the country is starting to stir. Some cities and states have begun lifting portions of these orders to reestablish some semblance of normal, which means employers must prepare for the return of normal work operations. But in these confusing and unprecedented times, that is easier said than done. Were employees laid off? Were they allowed to work from home? What about safety protocols for the office moving forward? The questions may seem endless. In a webinar called, Information on Getting the Workforce Back in the Workplace with Ogletree Deakins Law Firm, Ashley Prickett Cuttino, an employment attorney and national lead on employment and assets for the firm, broke down what reopening will mean for companies in this post-COVID-19 age. In this first installment of the

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series, we’ll discuss a broad range of issues that employers may encounter as they bring employees back, including benefits, paid time off (PTO), reinstatement procedures, updates to policies, and more.

Returning Looks Different for Everyone According to Cuttino, employees returning to work occur in three different scenarios. One, your company has done a full lay off of employees, where the employment relationship was terminated. The second scenario is called a furlough. This means the employee’s hours were reduced to zero or they were put on unpaid leave, but benefit plans may still be intact. Lastly, the third group are those who were moved to working from home, and you’re ready to move them back into an actual, physical workplace. One thing that is important to note, says Cuttino, are the terms lay off and furlough, and the difference between the two. “It is important to recognize that

in actual employment law, there is no such distinction between these terms,” she says. “It is about the action that you took; not the word that you called it. If I use the word furlough, I am speaking about a situation in which you put someone on the equivalent of an unpaid leave. If I use the term layoff, I am talking about the termination of the employment relationship where you’re no longer attached to that person affirmatively.”

Ready or Not One of the first things employers must do is decide who they’re going to recall, how many people will be called back, and in what order that will take place. To do that, business owners should create and follow a thorough business plan. “You should make this plan something that has a basis in business, and with an objective criteria,” Cuttino says. What that means is have standards in place for why you’re bringing one person back and not another, whether it’s seniority, critical job,

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function for company production, etc. Make sure that you can do a clear qualification for why one person was chosen over another. Whatever kind of return to work notice you decide to give, make sure it’s in writing. If they decline the offer to return, this return to work notice will be crucial for showing that they’re no longer eligible for unemployment. Either before or in your notice, clarify the safety measures the company plans to take to keep employees safe or further training that will be put in place. It’s crucial to highlight to your employees that there is a plan for the workplace to be safe when, and if, they return to work. Another set of company policies to be aware of before having employees return to work are leaves of absence. If your company has less than 500 employees, there’s emergency FMLA available and the emergency paid sick leave that’s rolled under the Families First Coronavirus Response Act. But be cognizant of what’s in place, what your company can offer, and any changes to policies. Other pieces to check before having employees return include

EVERYONE HAS HAD A DIFFERENT EXPERIENCE IN THIS PANDEMIC, AND THE BEST THING TO DO IS APPROACH IT RESPECTFULLY.

”

workplace safety, special COVID19 policies, furlough/recall statutes, and good attendance policies. If you have employees working from home, it is critical to have something in place that covers things such as who’s responsible for paying for what (supplies, internet, etc.), how to report hours worked, data security measures, etc. “You want to make sure that, if you have people who are not normally remote employees, they actually know the rules that they must follow,” Cuttino says. “Just because their body is in a different place doesn’t mean they don’t have the same work rules

in place.”

Employee Relations

Getty Images

Employees are one of the biggest and greatest assets to a company’s success. During turbulent times like the COVID-19 crisis, it’s imperative to make them feel valued. This means listening to their concerns, communicating with them often, and being honest. “You also want to make sure that you have a way for there to be an open-door policy for complaints, especially about health and safety,” Cuttino says. “You want your employees to be able to tell you if there is an issue somewhere that you need to address.” If the health insurance company you work with has Teladoc EAP counseling or emergency childcare, remind your employees that these benefits are offered. It will help them feel appreciated and show that you are worried about their problems, not just getting the business started again. One way to establish these positive interactions is making sure your supervisors are well-trained on communicating appropriately with your employees. For businesses to survive this, communication will be key. “It’s going to be critical that workplaces keep their good employees, keep people who are hard workers and know what they’re doing, and that’s going to come from everybody feeling like they are a part of the team and that you as an employer care about, not just the business, but about them,” Cuttino says. She also suggests diversity and inclusion

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BUSINESS SURVIVIAL

FEATURE

groups, family groups, or a women’s network as good sources of employee communications. They can be a great resource for engagement, community, and advice for your employees. When it comes to employee relations, Cuttino says that the best thing to remember is this: while we’ve all been in the same corona-storm, everybody is in a different boat. Some things may be more impactful to one employee, but have an entirely different impact on another. Everyone has had a different experience in this pandemic, and the best thing to do is approach it respectfully.

Other Things to Consider

your company has critical or sensitive materials, such as client lists, you need to consider who has access and where they are. For example, if you have people working from home, you need to make sure those lists are under the umbrella of a safe, secure network. If employees were able to take home laptops, docking stations, or phones, it’s pertinent to know who has what. This pandemic has created a new set of issues for employers, with nuances that no one would ever consider. For your company to succeed in this new era, it will be important for you to do your due diligence while communicating often and openly. In the next article from this series, we’ll talk about the safety protocols companies should consider when opening up their workspaces and welcoming back their employees.

Pe xe

Now that you’ve made the decision to bring back employees and have provided forthright communications, there are a few additional things to consider. For starters, if you’ve changed people’s compensations, cut salaries, or reclassified someone from exempt to hourly, you’re going to need to consider

if you’re ready to move them back to where they were or keep them where they’re at. That goes for health insurance and retirement plans as well. Next, two things that many business owners might not consider are background checks and drug testing. These are usually done in advance before hiring a new employee, but what about after a furlough or lay off? According to Cuttino, there’s no need to redo a background check or drug test after furloughing an employee unless there’s some sort of suspicion. However, if you laid off an employee and severed the employment relationship, you may want to run the tests again. Make sure you have the correct notice form on hand, and make sure you know your state’s rules on the matter. For some, it will be the same form that was filled out prior to hiring the employee, but if the acceptable date has passed, or, for example, you’re in California, you’ll need a new form. Another thing to consider is confidential information. If

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BUSINESS SURVIVIAL

FEATURE

By Parker Stoner

HOW TO CONNECT DURING CRISIS:

EMAIL MARKETING & COVID-19 The reality of COVID-19 means there are new rules to follow when connecting with your customers, and that’s especially true in a medium like email.

ike businesses everywhere, equipment rental dealers are experiencing the ongoing effects of the COVID-19 pandemic. Contractors and others in the construction industry still need reliable equipment to get jobs done right and stay on schedule. However, rental dealers have had to reevaluate the various ways they interact with customers—before, during, and after the sale—to keep everyone safe and healthy. Showrooms are closed or only offer limited access to equipment on display. Because of the need for social distancing, it has become challenging for salespeople to conduct equipment demos or even simply have in-person conversations with their customers about new or existing projects. Parts counters now offer contact-free pickup, further limiting the important face-to face interaction that’s helped

dealers build and nurture customer relationships over the years. Certainly, the COVID-19 crisis has changed everything about everything—including marketing. Many businesses are using email as a nimble, personal tool to reach out to, reassure, and remind audiences they are here for them. But while some audiences have more time to open and read emails, they also have different needs. Here’s how email marketing looks —and what’s working—in a new era.

Why People are Opening Emails More – But Clicking Less Results data from various email service providers—as well as recent results from our own clients—show

open rates are up. More people are at home and online – plus, budget cuts for many marketers mean less crowded inboxes and less clutter. But click-to-open rates are down, as “buy now” messages get ignored by nervous consumers and boilerplate emails from brands about the situation don’t give audiences much reason to click. All that to say: You don’t have to send a COVID-19 email just because seemingly everyone else is. Spam complaints are high for these emails, and negative reactions may lead to unsubscribes. If you feel you must send a COVID-19-focused email, be careful what terms you use in the subject line. According to Jay Schwedelson of Worldata, terms like “COVID-19,” “Coronavirus,” or “pandemic” are increasingly being blocked by spam filters, as are terms like: ■ Urgent ■ Hurry ■ Critical ■ Serious ■ Alert ■ Rush Additionally, people have crisis fatigue and are in a different buying mentality. So, make sure you have something relevant, unique, and helpful to say. This is an opportunity to demonstrate empathy, build relationships with audiences, increase preference, and strengthen brand positions for the long-term even though there may not be short-term sales results. In other words, it’s an excellent time to strengthen connections with your customers.

Three Ways to Connect During Crisis The situation is very fluid, so the guidance will likely evolve over the

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BUSINESS SURVIVIAL

FEATURE

coming weeks. But, so far, here’s where we’re seeing success: ■ Acknowledge the situation and offer practical help or stress reduction. In particular, consumers want critical updates from companies such as when (and if) they are closing and how to remain in contact. A recent study showed a 41% increase in open rates in B2B and 34% in B2C for emails like this – especially with the right subject lines. Another study reported email is a preferred channel by 67% of consumers for receiving these kinds of communications, compared to 45% for social media. ■ “Free” is bigger than ever. When used in subject lines, it is producing open rate increases of 39% in B2C and 31% in B2B. If you’ve recently been laid off, are concerned about being laid off, or are under orders at your

business to reduce expenses, an offer of something free can be very appealing. ■ This is a great time for a sweepstakes or prize giveaway. Recipients who have more time on their hands are more likely to be interested in the chance to win something of value and more willing to take the time to complete the entry requirements. If equipment sales or rentals are down, a few product giveaways or discounts can get your company’s message out and capture a list of interested prospects, who can be marketed to whenever their financial situation improves.

WHAT TO TEST In email marketing, it’s imperative to assess and reassess the effectiveness of your messages to get the best possible results over time. What works at one point in time or with one audience may not be as effective next time or with a different audience. By testing certain elements of your email campaigns, you can determine what you’re doing right and what you can improve upon. That said, some items are important to test whereas others are seldom worth the effort. Here are a few suggestions regarding what to test.

While the long-term effects of COVID-19 on the equipment rental industry remain to be seen, it’s clear that we’re all trying to live and do business in a world that’s very different than it was just a few short months ago. This new reality means there are new rules to follow when connecting with your customers. And that’s especially true in a medium like email. Focus on the benefits your customers will experience if they choose to work with you. Think about what difficulties they’re experiencing right now and let them know how you can help. In other words, if you’re going to drop into someone’s inbox, make sure you have something of value to say.

Subject lines The type, wording, and length of subject lines are worth testing. The most obvious performance metric with which to evaluate subject lines is the open rate. If one subject line generates significantly more opens than another, the natural conclusion is that it was more effective. However, that’s not always the case. An intriguing or non-specific subject line may generate a higher open rate, but a specific benefit or offer subject line may generate more clicks or conversions. Be clear about your objective and then evaluate performance on that criterion. Offers Alternative offers, and/or the way in which an offer is presented, are typically some of the most productive tests you can make in any type of direct marketing communications including email. Calls-to-action The wording, location, number of, and text versus graphic presentation of calls-to-action can have a big impact on clicks and conversions.

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Headlines and subheads These influence whether the message or a section of the message is read. Thus, they can impact the perceived value of the message as well as the click rates. Type, size, number, and location of graphics Messages that contain too much graphic content can cause problems with readability and deliverability. However, the right number and type of graphics can increase message appeal, build greater interest in products/services, and call attention to key points and calls to action. Frequency of messages How often do subscribers want to receive emails from you and what frequency will yield optimal results? There is probably no single right answer for all subscribers. However, split testing – comparing different approaches to determine which performs better – can help show you how much is too much. Timing of messages What time of day and/or day of the week is best for sending

your email messages? The answer will vary based on your product and audience. Split testing can help you identify some of the best and worst times to send. Type of content Do you generate more opens, clicks, conversions, and fewer opt-outs from messages focusing on information or entertainment or something else? Do certain subjects generate more engagement than others? Use of personalization Does personalization of content generate better engagement than without? Simply using the recipient’s name once or twice in the text may not make a difference, but more beneficial personalization that increases the relevancy of messages can make a big difference. Landing Pages Everything discussed above for testing in emails also applies to landing pages. Variations in headlines, graphics, and other items on landing pages can make a huge difference.

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JUNE/JULY 2020

6/1/20 4:44 PM

Photo by Dimitri Karastelev on Unsplash

BUSINESS SURVIVIAL

FEATURE

by Garry Bartecki

POSTPANDEMIC

Rental business owners must plan to come out the other end of the coronavirus chaos and restore lost business and profits.

opefully, the coronavirus pandemic curve is reversing in your region. But there is a possibility that it isn’t. With that in mind, I suggest planning for a six-month window of pandemic-related restrictions. This requires business owners to confront a list of never experienced “unknowns” and still find ways to come out the other end of the economic chaos with an operating company capable of moving forward to restore lost business and profits. Six months is a long time, and given the time frame we are dealing with, it could wipe out the major revenue months for seasonal

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rental companies. Obviously, this will require some out-of-the-box planning. Rental companies with a 12-month construction season have less to worry about, but still need to go through the planning process.

Can You Generate Sufficient Cash Flow? We covered a game plan for 2020 a few months ago, which covered both internal and external factors that could impact operating results and cash flow. Unfortunately, out of the five choices we put on the table for 2020, the “could be bad” option is where we are headed. Not only are we dealing with a

very serious health issue, but one that also created supply and demand shocks that seldom appear simultaneously. A supply shock means supply is not meeting demand, like in the ‘70s when an oil embargo reduced fuel supplies and generated extreme price hikes. A demand shock is when demand falls after supply has been built up. Currently, because of the coronavirus, we find supply chain companies on both sides of the equation running low on cash and facing bankruptcy, all of which will negatively impact the U.S. economy. What this all boils down to is your ability to generate adequate cash flow to pay the bills and run the

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Peacefully7 | iStock / Getty Images Plus

Develop a Six-month Plan to Ensure

business. Depending on what happens with construction work, you may have four to six months where work is restricted, rental pricing goes soft, used equipment values fall, new equipment finds fewer buyers, and a cash balance gets smaller every month. Are you generating enough cash flow to work through six months of chaos? Well, it’s time to find out.

Peacefully7 | iStock / Getty Images Plus

Develop a Cash Forecast Start by getting your management team together to prepare a “to do” list. Include your attorney, accountant, CFO, and other management members. Next, contact every customer to obtain a project status report and summary of how their company is doing to get a feel for their ability to generate cash to pay your invoices. Any potential problems should be conveyed to the management members. Since the major issue is cash flow and cash availability, get someone working on a cash forecast. Take into account: ■ historical payment cycles and estimated billing cycles adjusted for information received from customer calls; ■ poor paying customers; ■ estimated new and used equipment sales; ■ and potential customer service work. That covers the revenue side. On the payroll and expense side, decide which vendors must be paid and those that can be stretched. Also consider using credit cards to push expense payments further out. As for payroll, make sure you know what you are paying for and restrict overtime. Next, move on to the banks and finance companies, where you may have to ask for a change in payment terms for a six-month period, either interest only or zero payments for at

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least three to four months. Your cash forecast should be done within 48 hours, using the assumptions laid out during the management meeting. After that, adjustments can be made based on actual results and discussions with customers and vendors. If you do not have the expertise in house to get this report completed, lay it off on your accountant but with the same completion time required.

What to do if Forecasting a Shortfall

expenses. Pay particular attention to your parts situation. Do you have what you need to maintain trucks, rental units, and customer units? It isn’t safe to assume parts will be available in the same way they were six months ago. Other issues to consider: ■ Interest rates ■ Deflation ■ Insurance ■ Personnel policies ■ Underutilized equipment ■ Interest rate reductions Make sure you are not overpaying for materials ordered three months ago. Sell off underutilized equipment for generate cash. Make sure you comply with all federal and state employment issues. And consider shifting to local or national suppliers going forward to avoid problems resulting from goods being manufactured and shipped from overseas.

If the adjusted cash forecast indicates you can make it through four to six months, check it daily and adjust as necessary as new information about customers, projects, and materials come to light. Should the cash forecast reflect a material shortfall, more planning is required to stop the bleeding, with the goal to make it out of this six-month financial crisis and be able to move ahead ON THE WEB to recover what you have Rental Business Activity Might Have Bottomed with A lost. But this is where it gets Rebound on the Horizon www.ForConstructionPros.com/21128719 tough because you are going to have to make hard deciStep-by-Step Guides for COVID Employer Tax Credit, Disaster Loans from U.S. Chamber sions about employees, www.ForConstructionPros.com/21125933 vendor contracts, and other expenses, and if they need to be eliminated for a short time or I hope and pray we all get through for good. this without any major negative setHopefully, Washington’s plan to backs to your health and finances, provide liquidity works at the level but this a live or die situation for your where you can avoid the really hard company as well. Don’t be afraid to decisions. If not, or if it’s not enough, suggest or implement adjustments you can consider a downward adjustthat get your cash flow to where it ment when it comes to payroll for a needs to be. set amount of time, or you can lay off people for a set period. With the possibility that jobsites may get shut down, you may have to lay off perGarry Bartecki is the sonnel in any event. One more option managing member of GB Financial Services is a straight payroll reduction for all LLP and a consultant to employees that allows you to keep talAssociated Equipment Distributors (AED). He ented workers. can be reached at (708) 347-9109 or Also review rental cost of gbartecki@comcast.net. sales, office payroll, and operating

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6/1/20 4:52 PM

BUSINESS SURVIVIAL

FEATURE

By Chris Fletcher

During the

COVID-19

CRISIS, a New Type of Business Borrower Emerges

The finance sector is seeing a new type of B2B equipment financing customer emerging from the COVID-19 crisis.

here can be no doubt that the COVID-19 crisis has affected every business out there. Some industries were hit quite hard (restaurants, bars, sports, and related), while a few have experienced an increased demand for their products and services (cleaning companies, makers of at-home fitness equipment, etc.) But most companies fall somewhere in the middle—things are slower, but perhaps another small door has opened, and they remain hopeful. Working in the equipment financing industry allows for a front-row seat to how small businesses perceive the overall economic outlook. In general terms, the rosier the future looks, the busier we get. And the more pessimistic the future looks, the less the phone rings. Pretty basic stuff, really. Right now, we’re seeing neither side fully. Of course, there is a sense of uncertainty—nobody knows fully what the economy, or even America itself for that matter, will look like in a year or two. And while it’s true that businesses that remained open have slowed down in general, we are still feeling a sense of optimism. The shutdown was forced upon us— it wasn’t the natural ebb and flow of the economy that caused previous booms and recessions. The “off ” switch was purposefully hit, so there’s a sense that the economic conditions that spurred years of growth are still there, waiting to emerge again.

A New Type of Borrower May Be Here to Stay Speaking of emerging, we are now seeing a new type of B2B equipment financing customer—the company that has excellent credit and ample cash reserves who previously always paid cash for equipment. And now they are turning to financing to buy equipment, some for the first time.

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…

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This type of company, for whatever reason that made sense to them, historically eschewed debt. Maybe the owner was someone who did not like to borrow money (we all know business owners like that), or perhaps it was more of an organizational decision not to pay interest when they didn’t need to. And for years, “paying cash while taking on as little debt as possible” was how they operated. But right now, with an uncertain future, many companies have come to the conclusion that it’s much better to borrow money to buy equipment and keep their own cash on hand for

…WITH EVERYTHING CHANGING, THESE COMPANIES THAT HAVE NEVER BEFORE FINANCED EQUIPMENT HAD A DECISION TO MAKE WHEN THEY NEEDED EQUIPMENT—PAY CASH OR FINANCE?

for when he needs his next round of equipment. His reasoning? Exactly what I’m talking about in this article—he wants to keep his own cash in the bank. Because nobody knows for sure what the next year, or three, will bring.

This is pretty fascinating, and perhaps it’s also a lesson going forward. If there’s one thing this crisis has shown us, it’s how fragile everything we take for granted truly is. Think about it—one week we’re looking forward to baseball’s opening day, and

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emergencies. The top five industries where we’re seeing this new type of borrower include: construction/paving, landscaping, computer hardware/ software, auto repair and packaging. To use a personal anecdote, I use a landscaping service for my yard, and I talk to the owner almost every week. Some weeks, it’s a quick hello, and sometimes, we chat about business and such. He’s always been very much in the “I’m old school, so no debt” corner of things. But this spring, he’s started making noise about financing

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FINANCING EQUIPMENT “PURCHASES LETS YOU KEEP YOUR OWN MONEY FOR OTHER USES OR EMERGENCIES

“

the next week, sports leagues started shutting down, with the rest of the economy close behind. In the blink of an eye, everything changed. So, with everything changing, these companies that have never before financed equipment had a decision to make when they needed equipment—pay cash or finance? And they are feeling much better about financing needed equipment purchases right now. Money in the bank is a great thing to have anytime, but when times get hard or we’re in an emergency (like we are right now), it’s almost paramount. When equipment financing companies market themselves, they have historically used the theme of, “Financing equipment purchases lets you keep your own money for other uses or emergencies” as part of their sales message. It’s a good missive because it’s a very valid point. But it’s taking on an even greater importance right now, and companies are paying attention.

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Moving Forward – A New Trend It’s my personal feeling that all companies will be forever changed by this experience. The fragility of all things normal, and the speed at which everything changed, caught us all by surprise. Excepting the uptick in sales certain companies experienced (e.g., makers of face masks), the companies best able to weather the storm have two things in common: good credit and cash reserves. And as I’ve stated, they go hand-in-hand. This will mean companies that never liked borrowing before will likely start doing it to better preserve their own cash, so they’re better prepared for whatever the future brings.

Chris “Fletch” Fletcher is a senior VP of national accounts at Crest Capital, the nation’s #1 small business equipment financing specialist. Visit them online at www.crestcapital.com.

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SOFTWARE

FEATURE

NEW TECHNOLOGIES Help Make Projects Safer from COVID-19 Contractor takes on unprecedented risks by innovating new safety protocols integrated with new monitoring technologies.

Shawmut

Shawmut developed a COVID-19 safety plan in partnership with trade unions, industry peer groups, and other leading firms to minimize coronavirus exposure across its jobsites.

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orking in the construction industry during the COVID-19 pandemic comes with safety risks as unprecedented as the novel coronavirus itself. In the context of the current economic meltdown and disrupted availability of human resources, general contractor Shawmut has innovated project personnel management with digital technologies. They rolled out safety protocols, new jobsite innovation, and an exhaustive COVID-19 risk assessment and response plan to all project sites across the country in order to minimize exposure risk. Through grassroots efforts, Shawmut created the Shawmut Vitals platform, a new custom technology platform designed to check for COVID-19 symptoms and manage contact tracing to minimize infectious disease spread.

Employees can self-certify daily health screenings by scanning a jobspecific QR code, then filling out a health survey. If an individual is experiencing COVID-19 symptoms or has been exposed to someone who is either infected or at-risk, the individual is flagged for further care and action. This software solution, built entirely in-house, is easily integrated into existing Shawmut systems, allowing team members to access information on their mobile devices at a much faster rate. The firm has also mobilized new www.ForConstructionPros.com/RENTAL

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are within 6-ft. of one another. â&#x20AC;&#x153;The Coronavirus has very quickly required a drastic change to the world, and specifically, to our construction industry,â&#x20AC;? said Les Hiscoe, CEO of Shawmut.

The Physical Plan The Shawmut COVID-19 response plan outlines stringent guidelines for self-awareness and reporting; social distancing; hygiene protocol; disinfecting equipment and high-contact areas; the use of appropriate PPE; site safety requirements; on-site communication; and emergency procedures. A dedicated COVID-19 officer will be on site 100% of the time to enforce all site safety protocol. To maximize social distancing, gatherings of more

than five people will not be allowed, with only essential personnel permitted on each site. Where necessary, crews may be minimized and shifts staggered. Health screening guidelines, self-reporting, and all best practices will be reviewed regularly and reinforced with on-site signage, written in English and Spanish, and located in high-traffic areas. Shawmut will also ensure that an adequate amount of hand-washing stations will be available throughout all sites, with each unit at least 6-ft. apart. In crisis or not, Shawmut aims to drive a culture of safety. And they ensure the well-being of its workforce remains its number one priority.

Peacefully7 | iStock / Getty Images Plus

platforms designed to monitor safety compliance, enforce appropriate on-site social distancing, and screen personnel for fevers. Having rolled out SmartVid.io across all projects over a year ago, Shawmut is also maximizing the use of the technologyâ&#x20AC;&#x2122;s new capability to detect if people on jobsites are not properly social distancing. Similarly, Shawmut has implemented the use of Feevr, a device that screens for elevated temperatures. Created in response to the pandemic, Feevr enables the user to identify individuals with an elevated body temperature without making direct contact, thereby minimizing the risk of disease transmission. Shawmut will also pilot the use of a wearable device that buzzes and alerts team members if workers

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RENTER SOLUTIONS

FEATURE

By Becky Schultz

DIVERSIFICATION

into Vacuworx Lifting Systems Benefits Bottom Line Kurt Degueyter, Bottom Line’s founder and owner, established the company as an under-capitalized entrepreneur with modest intentions of buying and selling used equipment. After Hurricane Katrina, that all changed.

ottom Line Equipment launched in 2005, and for its first five years in business was wholly dedicated to cleanup and recovery efforts in the New Orleans market following the landfall of Hurricane Katrina. Kurt Degueyter, Bottom Line’s founder and owner, established the LLC as an undercapitalized entrepreneur with modest intentions of buying and selling used equipment. The storm—counted among the most intense and deadliest in recent history to make landfall in the contiguous United States—was a game changer that led him and his wife, Kim, to double down on efforts that included cashing out a home equity line-ofcredit and purchasing essential heavy equipment for the recovery efforts. Starting out with two pieces of heavy equipment and about 20 attachments, the Degueyters didn’t flinch at taking on risks associated with the investment as residents of hurricane-stricken New Orleans and surrounding areas began the arduous process of rebuilding their communities and lives. Nor did Kurt and Kim pay much thought to the potential upside for the new business. Over the past 15 years, it has grown exponentially to become a large independent equipment company

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engaged in the acquisition, rental, and resale of heavy construction equipment and specialty attachments. Headquartered in Lafayette, Louisiana, it employs 170 people, includes seven Gulf Coast locations, and maintains a fleet of more than 1,400 pieces of heavy equipment and 400 specialty attachments with an original acquisition cost of over $240 million. “In the beginning days of Bottom Line, we didn’t have money to buy and sell, so I was brokering,” Degueyter said. “Thirty days later, Katrina hit, one of the largest natural disasters to date. We were in New Orleans within three days, setting up shop on a stretch of highway known as ‘equipment row.’ That’s where we really started building the business from nothing. Every dollar we made

was put back in the company.”

Branching Out By 2010, Bottom Line began diversifying its customer base by repurposing its existing fleet of excavators and bulldozers, which were initially acquired for levee work, and adding new lines of attachments geared toward meeting specific needs in the oil and gas industry with an emphasis on pipeline construction contractors. Degueyter first gained familiarity with Vacuworx lifting systems in the early 2000s, while working for a Gulf Coast equipment dealer that was helping roll out an early version of the RC Series pipe-handling system. The industry, he recalled, was a little skeptical in the beginning about handling a piece of pipe with only the vacuum lifter securing it. That www.ForConstructionPros.com/RENTAL

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started changing soon after the product began to penetrate the market, he said, and customers realized the safety aspect of limiting direct human contact with bulky lengths of tubular steel. Because vacuum lifting doesn’t require any rigging of the material being lifted, there are no workers needed to climb on a stack to secure it or loiter on the right of way, providing maximum room for safe and efficient pipe-handling maneuvers. Wireless remote operation and 360° of hydraulic rotation allow for a high level of operating efficiency and the precise placement of materials from the secure confines of the host machine. “The consensus is that our customers really like the built-in safety features,” Degueyter said. “In many cases, our customers have reported an immediate increase in productivity. Vacuworx provides a way for us to help our customers to do it in a safe manner. The real benefit is safety because it removes people from a position where they could possibly get hurt.” Bottom Line stocks heavy-duty RC Series lifters with lifting capacities ranging from 22,000 to 55,000 lbs., and a full range of vacuum pads to lift and maneuver virtually any dimension of pipe, steel plate, or concrete slab. It has also put out orders for the Vacuworx HL Series Barrier Lifters, a hydraulic lifting option designed for the safe and efficient handling of concrete road barriers up to 30 ft. long and 23,200 lbs. and the PS 1, a portable vacuum lifting system for smaller challenges up to 1,700 lbs. www.ForConstructionPros.com/RENTAL

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“We rent it, buy it, sell it, repair it, deliver it,” Degueyter said.

High Standards for Service and Support The decision-making process Bottom Line undergoes when forming alliances, investing in equipment, or incorporating new technologies always ties back to doing the right thing for the company, its customers, and its employees. Bottom Line values working both smarter and harder to ensure the best outcome for its clients. It chose to work with Vacuworx because of its reputation for personalized service and support in the industry. “When we look outside the organization, we like to see vendors that exhibit or share the same common set of core values,” Degueyter said. “That’s what really makes us good at what we do.” He continued, “Vacuworx is always responsive, willing to go beyond what some may consider ‘standard operational procedure. They are very knowledgeable about products, abilities, and limitations, which helps guide our sales staff when matching products with our customers. Whether we bring in a new product or an existing one that we own, the support is the same. They are there, providing support after the sale.”

Combining Technology and Service Bottom Line takes pride in maintaining a “one-fleet” mentality and is

considerate of innovative technologies that promote safety and security, which has included prolific use of telematics to track location and usage of assets, bolstering the company’s field management and scheduled maintenance capabilities. Degueyter said the equipment dealer’s Bottom Line Link platform is set up so that data from every machine flows seamlessly into a central platform, helping feed its product health program and product support team. Bottom Line has 30 fully equipped field service trucks and factory trained shop technicians at each of their seven strategically located service centers across Louisiana and Texas. It is well-equipped to deliver on the guarantee provided to its customers, Degueyter said. “We will repair or replace any rental machine within 24 hours if the unit is working within 100 mi. of one of our service centers,” he states. “The increased safety aspect drives our customers,” he continued. “Now we’ve taken it to the next level with training from our OEMs and tracking all of our assets with telematics. At the end of the day, our safety program is all about going home to families, as good or better as we showed up this morning. We see Vacuworx responding in the same way. Safety is our bottom line.”

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TRENCHERS

FEATURE B y Ty l e r S c h w a n d t , D i tc h W i tc h p r o d u c t m a n a g e r, p a r t s a n d t e l e m a t i c s

Best Practices for EXTENDING TRENCHER CTS LIFE Users looking to extend the life of trenchers must conduct routine maintenance and equipment care.

Ditch Witch

dvancements to compact walk-behind trenchers are creating new reasons for renters, landscapers, and other green industry pros to use dedicated trenchers. Available in a variety of sizes, trenchers are efficient and effective digging machines for installing pipe and cable. While technology enhancements assist with efficiency and productivity, users looking to extend the life of trenchers must also conduct routine maintenance and equipment care.

Consistent Care To keep trenchers hard at work on the job and in peak performance, operators and rental yards must monitor and maintain the machine and components over time. Chain, teeth, and sprocket (CTS) components need to be replaced regularly – with frequency depending on use and jobsite conditions. The most common cause of CTS wear and tear occurs when a system is forced to perform a task beyond what

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Signs and Causes of Wear and Tear

Trencher chain, teeth and sprocket components need to be replaced regularly to keep trenchers in top, peak performance.

To prevent abnormal wear and tear on trencher chains, it’s especially important to ensure proper tension by regularly checking the chain’s fit. Chains come in multiple sizes and shouldn’t sag, or they’ll vibrate the equipment and cause unnecessary wear. Chains also shouldn’t be too tight, or they’ll begin to create different wear patterns on the sprocket or sidebars. A good rule of thumb when checking tension on a walk-behind If your trencher has broken teeth, you need to replace them immediately.

Ditch Witch

trencher is to remember two fingers should fit between the chain and the lowest part of the boom when the boom is parallel to the ground. This translates to approximately 1.5 to 2 in. Additional signs of wear and tear include: worn chain rollers, digging teeth, side bars, and sprockets. If you notice these signs, take a look to see

Ditch Witch

While technology enhancements assist with efficiency and productivity, users looking to extend the life of trenchers must also conduct routine maintenance and equipment care.

the trencher is intended to do. Often, this happens when operators rush and plunge the boom into the ground too quickly, as opposed to allowing it to pull through the ground. Moving too fast can send your machine to the shop and negatively impact your productivity.

what’s happening and consider these four tips for extending the life of your trencher and CTS: ■ Look over your machine to check for signs of wear and tear before starting new projects. ■ If your trencher has broken teeth, replace them immediately. ■ Replace chains and sprockets simultaneously to increase overall system life. ■ Monitor digging chain tension and adjust as needed. As with all machinery, check your operator’s manual for machine-specific guidelines and other important safety recommendations. www.ForConstructionPros.com/RENTAL

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INDUSTRY UPDATE INDUSTRY NEWS

EDCO ANNOUNCES PASSING OF CO-FOUNDER LEO SWAN

→

In an email sent May 21, EDCO announced the passing of one of the company’s co-founders, Leo Swan.

“ A

We send our best wishes to everybody in our valued EDCO community during these hardships the pandemic has created. Unfortunately, the virus claimed the life of one of EDCO’s co-founders, Leo Swan, on May 4. He was 93 years old.”

Photo Credit

ccording to the letter, Swan, whose given last name was Swantkowski, was born in Poland before immigrating to the United States when he was two. After graduating high school, he served in the United States Navy during World War II. Following his service, Swan worked for the National Cash Register company before accepting a job at Rental Tool and Equipment in Silver Spring, Maryland, to work alongside John Doran Sr. and Ed Harding. While working at that rental store, Harding and Swan created the first dual-disc concrete grinder in 1959 and create Equipment Development Company. As the company and product line grew, Swan never wavered from his relationship-centric business mindset with his employees and customers. That commitment helped EDCO evolve from a three-man operation into the 100-plus employees it has today. When Swan gave his acceptance speech during the 2006 ARA Hall of Fame induction ceremony, he said, “It’s been my good fortune to be associated with the finest people in the world: The owners and operators of equipment rental centers. I’ve never met a rental person I didn’t like.” In his spare time, Swan enjoyed sailing, painting, and spending time with his wife of 70 years, Irene, and their family.

To read the letter in its entirety, visit www.ForConstructionPros.com/21134399.

ERS CATERPILLAR NAMES TEXADA SOFTWARE EQUIPMENT RENTAL SOFTWARE PROVIDER Texada Software, a wholly-owned subsidiary of Noble Iron Inc., has been chosen by ERS (Energy Rental Solutions) Caterpillar as their equipment rental software provider. ERS CAT will be deploying Texada’s SRM (Systematic Rental Management), FleetLogic mobile field service and logistics application, and GateWay e-commerce suite in all of their locations. Alex Kress, Texada’s head of customer success, says, “We are thrilled to partner with ERS by providing an extraordinary experience and software platform for

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the ERS team and their customers.” “We selected Texada for its capability in rental management along with a web-based platform that we could more easily integrate with other business systems,” stated Scott Milligan, president of ERS Caterpillar. “The software will also help us remove much of the inefficiencies of paper reporting and non-integrated systems from our processes.”

Read more at www.forconstructionpros.com/21133559

www.ForConstructionPros.com/RENTAL

6/1/20 5:29 PM

THE TORO COMPANY GIVES $500,000 TO GLOBAL CORONAVIRUS RELIEF EFFORTS

he Toro Company gave $500,000 to assist families and communities worldwide that have been impacted by the COVID-19 pandemic. Grant funding from the Toro Foundation will span all regions where Toro operates, and will focus on providing food, health, and humanitarian assistance to helping people adversely impacted. The contributions include commitments to several global nonprofits that are assisting in the relief efforts. This includes the American Red Cross and the International Committee of the Red Cross, Feeding America, the World Food Program, the United Way Worldwide, and United Way organizations in communities where the companyâ&#x20AC;&#x2122;s employees live and work. An additional element of the global giving effort includes a special program for its employees who wish to personally give to designated COVID-19 relief organizations. Under the program, The Toro Company will match employee contributions to a nonprofit organization of their choice in support of relief efforts. Learn more at www.ForConstructionPros.com/21129715.

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6/1/20 5:29 PM

INDUSTRY UPDATE

The ARA Launches

Healthy Work Practices Campaign The American Rental Association (ARA) has released the “ARA Healthy Work Practices Guide” as the first part of the association’s “Clean. Safe. Essential.” program to organize ARA resources. In the welcome message for the guide, Tony Conant, ARA CEO, explained the initiative. “As rental store visits become more common again, there is a tremendous need for guidance on how rental stores can operate as safely as possible under the circumstances. In response, the ARA created the Clean. Safe. Essential. program to organize our resources, energize our efforts, and focus our commu-

nications on the safety and vitality of our industry. The first resource in the Clean. Safe. Essential. program is the Healthy Work Practices Guide. The objective of this document is to provide practical guidance on measures to minimize exposure to the coronavirus (COVID-19) for rental store staff, customers, vendors, and guests,” Conant said. The ARA created two documents, one for construction and general tool, and one for party and event, to focus on both segments of the rental industry. To read more about the guide, visit https://forconstructionpros. com/21133828.

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www.ForConstructionPros.com/RENTAL

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IPAF RELEASES SAFE WORKING PRACTICES TO MINIMIZE CORONA RISK

→

IPAF has issued guidance to assist those using MEWPs, mast-climbing working platforms (MCWPs), construction lifts, and hoists to work safely and minimize the risk of spreading the coronavirus.

he new document has been developed and reviewed by IPAF’s safety experts and members with specialist knowledge of health and safety best practices. It is centered around a hierarchy of risk, with guidance on how to mitigate possible exposure to the virus to help protect employees, colleagues, customers, and users of powered access equipment. The hierarchy is ranked from eliminating risk entirely, reducing risk, isolating users from risk, controlling risk, and protecting against risk through use of PPE. To learn more, visit forconstructionpros.com/21132971.

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INDUSTRY UPDATE

DITCH WITCH OFFERS NEW EQUIPMENT OPERATION TRAINING MODULES With the introduction of four new modules, more underground construction and outdoor professionals can take advantage of Ditch Witch Certified Training. The new modules include training for stand-on skid steers, walk-behind trenchers, ride-on trenchers, and the Roto Witch Drilling Attachment.

account. In-person training is available at any global Ditch Witch dealer. The modules vary in length, depending on the type of product being studied, from 30 minutes for smaller units to several hours for more complex subjects. Testing is provided to ensure those taking the modules are retaining the information.

They’re designed to be delivered both online and in person to be as convenient and effective as possible. Online training modules are available at no cost by visiting www. ditchwitch.com and registering for a free MyDitchWitch

The new training categories were selected based on customer demand. Learn more at www.ForConstructionPros. com/21132351. Learn more at www.ForConstructionPros.com/21132351.

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ADVERTISER’S INDEX ADVERTISER

PAGE

ADVERTISER

PAGE

ADVERTISER

PAGE

Abbott Rubber Co. .....................40

JLG Industries Inc. ......................19

Skyjack Inc. .................................27

Advance Metalworking Co........41

John Deere....................................7

Snorkel ........................................44

Ammann America ......................23

Nexvue ........................................31

Sycor Americas ...........................38

EDCO ...........................................43

Orion Software ..........................30

Thieman Hydraulic Tailgates .....39

E-Z Trench ...................................14

Point of Rental Software ...........21

Toro ...............................................2

FMH Material Handling Solutions5

Precision Components ...............29

TVH Parts Co. ..............................28

General Pipe Cleaners ................11

ROEDA ........................................40

UP Equip .....................................38

Ground Hog ................................37

Rotary Corp. ...............................39

Windy Ridge Corp. .....................41

IGNITE Construction Summit .....35

Rubbertrax, Inc. ..........................15

This index is provided as a service. The publisher does not assume liability for errors or omissions.

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EYE ON RENTAL // B y

Dick Detmer

BY DICK DETMER

LEADERSHIP & Renewal

During a time of crisis like the COVID-19 pandemic, you can make the future as bright or brighter than ever with just a few simple considerations.

ight now can be one of the most defining positive moments in the entire history of many rental companies. Like Yellowstone National Park’s miraculous transformation and rebirth after devastating, scorched-Earth wildfires, good things can and often do happen to make it even more spectacular. In my opinion, some rental companies are going to recover from the devastating economic effects of the coronavirus quicker than they expected, and some will say, in the years to come, that even though it was devastating at the time, it made them more vigorous and better fortified for the future. I don’t think it’s wise for most rental companies to focus exclusively on hunkering down. I feel that now is the time for concentrating on the future, and what “coming out on the other side” of this crisis will look like and what should be done to rejuvenate. (Of course, some rental companies that have been hit the hardest must continue to battle daily just to stay afloat in these terrible times—and our thoughts and prayers go out to them.) For many rental companies, one key to rejuvenation involves leadership. It is so important to get key staff members (especially those who may be destined to lead the company in the future) more actively involved now in a leadership capacity. In

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doing so, they will learn important real life, real-time lessons dealing with personnel, inventory management, and of course, budgeting. It is unlikely that any time in the future will compare to the fast, hard-hitting nature of this crisis. So giving future leaders an inside look at whatever portions of the business you’re willing to share and entrust them with could prove to be the best way for them to learn valuable rental busiIt’s important to have a plan to reinvigorate, renew, and refortify your company during and after a time of crisis.

ness management lessons. Another key to the rejuvenation process is to try to be as positive as possible. It’s tough to do, but is certainly well worth it. Staying positive and showing your resolve to make the company successful (even during times of extreme crisis) are important leadership traits. And again, those in your company who are either currently in leadership roles or those who may become leaders

will likely model their behavior after yours. Staying cool, calm, and positive when you are under serious pressure will demonstrate something that is difficult to teach with just words. Another example of a potential strategy as the U.S. continues to “open up” is to use social media for little- to no-cost advertising to prime the pump. I feel it can be helpful to get your story out now about what you’re doing, and the services and equipment you offer. Use some testimonials of how your company helped other businesses, individuals, and organizations with your services. Use specific equipment, applications, and customer types if you can. Even if you’ve had a presence on social media in the past, this is the time to make a more powerful, sustained effort to get the word out about how well your company solves problems and speeds up projects to successful completion. As more and more areas of the country “reopen” and start conducting business again, it’s important to have a detailed and comprehensive plan to help jump-start your revenue stream—and to plan and implement a variety of other strategies to reinvigorate, renew, and refortify your company for a very bright and secure future.

Dick Detmer is a nationally recognized consultant, lecturer, and writer with 40+ years of experience in the equipment rental industry. In 2018, he celebrated the 30th anniversary of his business, Detmer Consulting Inc., and his column in Rental. Dick can be contacted at dick@detmerconsulting.com, (309) 781-3451 or by visiting his website www.detmerconsulting.com.

www.ForConstructionPros.com/RENTAL

6/1/20 5:39 PM

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