Reliable Renting is a equipment rental and transportation company established here on the island who concentrates in the construction market.
They provide all types of materials and equipment for the contractors who prefer to rent instead of owning their equipment. As the name already says, you could rely on us to provide you with all your equipment rental needs.
The Goal
Leverage 1 existing brand to incorporate a new business. Reliable Renting had so much upstream, but to lift up a brand new business model, one must show their capabilities.
The Strategy
The construction industry here on the island is on the high rise with a variety of construction projects that are taking place. So the idea was to capitalize on providing these contractors with a possible solution that could save them excessive money to buy equipment and also having a place to store them all.
In addition to renting equipment, the transportation industry is also booming. It is quite a saturated market, because of the low entry barrier and there are a wide range of people doing it. As the owner already had an established brand, the job was for the existing brand to create a way for Reliable Renting to enter the market.
So by combining these two services together, it was beneficial for the renters who are looking for a company to facilitate them as much as possible. In the construction industry, the more time you could save, will definitely turn into more revenue for you as the contractor.
Last but not least, by also engaging with potential partnerships would enforce your plan because it shows that you already have possible income streams when you initiate with this new venture.
Key Takeaways:
Create a possibility for your clients to earn more through your services.
