Learn about actual and potential costs
How much should I pay for Earthmoving Machine Rental?
What is the average price of Earthmoving Machine Rental?
This procurement report includes pricing information to help you purchase Earthmoving Machine Rental. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Earthmoving Machine Rental been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Earthmoving Machine Rental yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Earthmoving Machine Rental?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Earthmoving Machine Rental with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
The top four vendors of earthmoving machine rental account for less than 30.0% of the market's total revenue, indicating a low level of concentration. ProcurementIQ estimates that, in 2020, there are about 3,200 vendors that rent earthmoving machines to buyers. Most vendors supply rental machinery on local or regional levels... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
How long have you been in business? How long have you been serving customers in my industry?
Can you give me an example of customers you have helped in the past? Did they return to your services?
How long have you provided rental services to your longest-tenured client? Who are your five largest clients?
What manufacturer or brand do you have the most experience working with? How does that benefit you?
Do you source materials with a high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?
How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?
Amid widespread health concerns, what contingency plans are in place to mitigate the risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased or reduced demand?
What kind of phone support do you offer? Is it available around the clock?
What is your return policy if the equipment does not meet my expectations?
Who will be my point-of-contact at your company and what is their role?
Will my contact be able to make immediate changes to my rental policy if I am unhappy with it?
Have you increased your fleet size in recent years to keep up with demand?
Is your inventory large enough to support renting during the summer months without a waiting period?
What is the average age of your equipment and how often do you update your fleet?
Has the makeup of your equipment inventory changed in recent years? How and why?
Do you focus primarily on earthmoving machines? If not, is there a particular type of machinery that your rental company focuses on?
Group Membership & Reputation
What rental industry trade groups are you involved with?
Do you have any certifications from industry groups?
Do you have unique relationships with manufacturers?
What is your reputation like among customers and how have you cultivated it?
Do you offer any incentives to repeat customers or those referring business to your company?
What is your rate of repeat business?
Maintenance & Repairs
Do you have a preventative maintenance program in place?
What testing procedures do you perform before renting equipment out?
Do you guarantee response times for repairing equipment while in my possession?
How will you handle any equipment failure that occurs while the equipment is in my possession?
Do you offer on-site servicing and repairs?
If I am located in a different region, do you anticipate any difficulties in delivering the product?
How long does it take you to order a machine that is not in stock?
Do you allow on-site visits for potential buyers? Can I witness a demonstration?
What is the typical delivery time for your equipment?
Do you add a fuel surcharge to the delivery price?
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Key elements for every RFP
What should my RFP include?
Buyers should explicitly state the amount of the contract award.
Buyers should explain when and how many payments will be made.
Buyers can consult the Benchmark Price section of this report to determine how much they should pay for each earthmoving machine.
Buyers should evaluate the experience of the supplier.
Buyers should make sure the provider offers earthmoving machines with the appropriate specifications.
Buyers should evaluate suppliers based on the estimated costs of the units they are offering.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers need to include the date proposals are due and when award information will be available.
Buyers should include any other benchmark dates relevant to the project that suppliers will need to be aware of.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain risk in the earthmoving machine rental market is moderate. Goods that rental companies purchase include construction machinery, electrical equipment and various small parts like screws, nuts and bolts. Moderate supply chain risk largely stems from construction machinery dealers because these dealers hold significant sway over machine rental... Subscribe to learn more.