The online crane rental business has gained huge popularity and becomes the most inspiring business venture for aspiring entrepreneurs.
Are you looking forward to setting up your crane rental business? If so, then it might be a great idea for startups and small businesses.
Still, confused? Let me prove with some stats,
As per statistics, the global crane rental market was valued at USD 40.30 billion in 2018 and is expected to reach USD 57.67 billion by 2026.
Hence, it is proved that starting a crane rental business is proven to be successful in this digital era.
This blog covers you with,
- Perks of having a software solution for crane rental business
- Workflow of crane rental software
- Features to be implemented
- The revenue model that suits the crane rental software
- Steps to be followed before starting a crane rental business
- How to start a crane rental business with a perfect software solution?
Perks of having a software solution for crane rental business,
Let me explain the reason for choosing a crane rental software for the digitized working process,
- Helps increase the reach
- Easy to manage all the business processes
- Availability of online payment options
- Helps increase the business revenue
Let’s see how crane rental software works,
Workflow of crane rental software:
- Customers will sign in to the platform with the multiple login options
- The host publishes the listing on the platform and add their desired payout method
- Guest search and book their preferred listings based on the location, price, and with more options
- The host receives the booking request from the Guest and can accept or reject the booking request
- The Guest and host communicate with each other in case of any queries regarding booking
- The bookings will be immediately accepted by the instant booking options or Guest have to wait until they got confirmation from the host
- Once the booking is confirmed, the Guest can make use of the rentals
- Host and Guest can rate and review each other based on their rental experience.
Features to be implemented:
Advanced search filters: Customers can easily find their desired listings at their expected location at an affordable cost by using the advanced search filter option.
Wishlist: Customers can easily save their preferred listings and make use of it for future bookings with the wishlist feature.
Instant book and request to book: Customers have two options to book: Instant book and Request to book.
The ‘Instant book’ option allows the customers to book their favorite listings instantly. The ‘Request to book’ option allows the customers to send a booking request and have to wait until getting a confirmation from the host.
Payout preferences: Host can either choose their payout preferences as Paypal or stripe. The host can add an ‘n’ number of payouts and set anyone as a default account. They will be receiving their payout from the default payouts.
Internal messaging: Host and customers message each other in case of any queries related to the bookings.
Seasonal pricing calendar: This feature helps the host to charge less or more during peak seasons.
Manage service fee: The admin can manage the service fee for both host and guest. The deduction will be done based on the terms and policies.
Manage admins: Admin has the right to add sub-admins and manage them by assigning privileges.
Reservation management: Admin can manage the entire reservation done on the platforms.
The revenue model that suits the crane rental software:
The commonly used revenue model in the crane rental business is commission-based. In this model, the users will be charged a fee for every transaction that happened on the platform. The fee will be either fixed or percentage. The fixed fee remains constant for every booking and the percentage fee will be adjustable based on the transactions.
Steps to be followed before starting a crane rental business with the right software solution:
Market research is the most important factor to consider while starting your crane rental business. It helps businesses to adapt to the current market trends and helps maintain their competitive edge.
It helps in many ways includes:
- Identify your new customers
- Understand your existing customers
- Helps identify new business opportunities
- Develop new and effective strategies to understand your market.
- Focus on target audience:
- One of the crucial things you need to focus on before starting your crane rental business is to focus on your target audience. The benefits of focusing on the target audience help in the successful growth of your rental business.
Choose a readymade solution:
Investing in a crane rental business from scratch will cost you higher and it also requires more time. But, picking up the readymade solutions requires less cost and offers you many benefits.
How to start a crane rental business with a perfect software solution?
To begin your business journey with all the required features and functionalities, you can make use of a readymade solution like RentALL that will help you to set up your rental business at ease.
What is RentALL?
RentALL a 100% customizable rental script that helps entrepreneurs to set up their rental business into the market. It is built with advanced technologies React, GraphQL, and so on. It supports multi-language and multi-currency that will help entrepreneurs to launch a rental business in their preferred regions.
Let me explain to you how RentALL helps in your business growth,
How RentALL supports you?
- Avail 100% source code
- Easily customizable
- End to end technical support
- Cost-effective solution
From this blog, I hope you might be clear regarding the key points to keep in mind while starting a crane rental business.