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AT THE HEART OF HIRE


CONTROL THE CONTROLLABLES!


We picked up on this expression in the last couple of years and have been liberally repeating it in recent months, particularly in response to questions about how well, or otherwise, we’re doing and, more importantly, how well our industry is performing as we set sail into 2012.


The meaning of this expression is, surely, a clear message to devote your time, focus and attention to those areas of your business - and, indeed, your life - that you are responsible for and can control and do something about. Rather than the things you’re not responsible for, that you don’t control and can do very little about.


Some things that you’re not responsible for, and can’t control, are the global economy, our Government’s public spending cutbacks, the on-going Eurozone crisis, increasing fuel prices, rising inflation, the world’s supply of energy and the weather, to name but a few. However much you worry about these issues - and with the Executive Hire Show almost upon us, we’re always mindful of the weather forecast - there is nothing we can do to influence any of these issues. So why waste time and energy on them?


Rather, let’s spend our time and energy in 2012, on any number of areas in our own business that we are responsible for, and which we can control and do something about. One of the most


significant issues raised in our Tool Hire Top Ten 2012 analysis, commencing on page 29, is the concern over price inflation.


Author Catherine Stratton reports that 2011 saw increased capital expenditure by the leading tool and equipment hirers. However, due to price inflation, they are getting less for their money. Equipment is costing more, fuel and other overheads are continuing to rise and hirers - of all shapes and size across our industry - have to recoup their outgoings as they continue to invest in the latest equipment to meet customers’ demands. The obvious way to start achieving this is to take a more positive stance and raise your hire rates. Some hire rates did move ahead last year, but it is clear that more needs to be done. Crosshire, in his ever-readable column on page 72, argues that ‘customers increasingly demand kit that is modern, quiet, low in emissions, fuel efficient and vibration-free. To satisfy these requirements, we should ask for a fair price - which in today’s market probably means an increase of at least 10% on many items.’


We shouted it this time last year and we’re bellowing it out again now – RAISE YOUR RATES. Surprisingly, one of the Top Ten MDs says that his company has now begun to charge for ‘add-ons’ such as transport, fuel and damage costs. Surely, such charging is commonplace throughout our industry? If it’s not, it should be, starting NOW.


…AND CONTINUE TO RE-INVEST AT THE SHOW


As we have already commented, it is clear from this year’s Tool Hire Top Ten that hirers are re-investing in their fleets. We’re now nearly four years away from the depths of the recession when the capital expenditure tap was turned off. Four years is the average economic life of compact plant, much of which has been sweated to the edge of its economic life. Re-investment is now urgent. Innovation has always been the cornerstone of the Executive Hire Show, so next month’s event is the best opportunity you’ll have this year to find your


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next group of profit-earners. Of the 128 exhibitors, 28 are exhibiting for the first time. There’ll be 70 showing new products, 14 of which have been judged as Finalists and will be displayed on the Innovation Zone, located in the new Top Tier above the Main Hall.


These new product opportunities will help you raise the rates and, in the process, give you responsibility for, and control over, what you want most - your own future.


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