Rental Manager

About the Company - Faris Machinery is a well-established heavy equipment dealer with a 72-year history of success. We're seeking a driven and analytical Rental Manager to join our team and play a key role in the continued growth of our rental division. This is an excellent opportunity for a professional with industry experience to make a significant impact, drive profitability, and advance their career within a stable and thriving organization (FarisMachinery.com).

About the Role - Responsible for the efficient and profitable operation of the Rental Department, ensuring optimal utilization of rental equipment, customer satisfaction, and business growth. Advises and makes recommendations to the VP of Operations concerning the best interests of the Rental Department and the company.

ESSENTIAL FUNCTIONS

Personnel Management:

1. Takes primary responsibility for recruiting, hiring, training, and retaining Rental Specialists, Rental Customer Representative, Yard Personnel.
2. Reviews salary and compensation plans for rental personnel in collaboration with the VP of Operations and recommends necessary changes.
3. Evaluates job performance of all department employees biannually.

Strategic Analysis and Planning:

1. Conduct in-depth analysis of historical rental data to identify trends, opportunities, and areas for improvement.
2. Develop and implement strategies to optimize equipment mix, pricing, and resource allocation to maximize profitability.
3. Analyze market demand and competitive advantages to inform strategic decision-making.
4. Formulate and execute plans to enhance customer retention and attract new high-value clients.

Customer Relationship Management:

1. Identify and analyze critical rental customers, assessing their historical rental activity, profitability, and equipment needs.
2. Develop and maintain strong relationships with key accounts, ensuring exceptional service and maximizing customer lifetime value.
3. Proactively solicit and analyze customer feedback to improve service offerings and customer satisfaction.

Operational Excellence:

1. Oversee the day-to-day rental operations, ensuring efficient coordination of equipment rentals, logistics, and service.
2. Manage equipment inventory, ensuring optimal utilization and minimizing downtime.
3. Implement a comprehensive equipment intake and outtake process, including detailed visual documentation (photos/video) and standardized checklists, to ensure accurate condition tracking and efficient handling of all equipment (customer, stock, and rental).
4. Implement and enforce best practices for equipment maintenance, safety, and compliance.
5. Coordinate with yard personnel and the service department to ensure timely and efficient processing of rentals.

Financial Management:

1. Monitor and analyze rental revenue, costs, and profitability.
2. Develop and manage the rental budget, ensuring alignment with company goals.
3. Implement strategies to optimize cash flow and asset utilization.
4. Prepare and present regular reports on rental performance to senior management.

Sales and Business Development:

1. Collaborate with the sales department to develop and execute strategies to drive rental revenue growth.
2. Prepare bid proposals and quotations for rental equipment.
3. Identify and pursue new rental opportunities.
4. Assist in advertising and marketing efforts to promote the rental division.

Compliance and Administration:

1. Ensure accurate and timely processing of rental agreements, billing, and related documentation.
2. Maintain accurate records of rental transactions, equipment status, and customer interactions.
3. Ensure title work, licenses and SMM paperwork is complete and up to date on sold and rental equipment.
4. Ensure compliance with all relevant regulations and company policies.

Essential Functions Detailed:

1. Oversee the rental of equipment to Faris Machinery customers.
2. Take rental and sales calls both by telephone and in person.
3. Coordinate equipment rentals with yard personnel and service department.
4. Assist sales department with bid proposals and quotations.
5. Check in new and rental equipment.
6. Process billings to customers on equipment.
7. Assist sales department with inside sales effort.
8. Assist yard personnel in loading, unloading, and delivery of equipment to customers.
9. Assist the vice president with advertising and mailings promoting the company.
10. Take advantage of all opportunities to attend schools and training sessions to upgrade technical competence.
11. Ensure title work, licenses, and SMM paperwork is complete and up to date on sold and rental equipment.
12. Oversee plant maintenance of the Commerce City facility

OTHER FUNCTIONS

1. Foster positive working relationships with fellow company members, respect each person's unique responsibilities and talents, align with the company culture, and collaborate with all functional managers throughout the organization.
2. Informs the VP of Operations about all changes under their responsibility that may impact company success.
3. Fosters positive relationships with the manufacturer personnel represented by Faris Machinery.

LIST OF JOB TITLES MANAGED

1. Rental Specialists
2. Rental Customer Representative
3. Yard Personnel

JOB QUALIFICATIONS

1. Strong analytical and problem-solving skills.
2. Excellent communication, interpersonal, and negotiation skills.
3. Proficiency in data analysis and reporting.
4. Strong understanding of rental operations and financial principles.
5. Knowledge of computers and calculators.
6. Must be able to speak English in a clear and comprehensible manner.
7. Must be able to read and understand bid documents and sales manuals.
8. Valid Colorado driver’s license with no more than one moving violation in the past year.
9. Bachelor’s degree in business administration, or a related field preferred.
10. Minimum of 5 years of experience in the heavy equipment rental industry.
11. Proven track record of success in a rental management role.
12. Experience with data analysis and financial management.
13. Be capable of lifting, stooping, squatting, bending, and climbing; possess a full range of motion and the use of all extremities; and be able to lift and carry up to 75 pounds.

WORKING ENVIRONMENT

1. Most work will occur in an office setting, service department and in the equipment yard, occasionally will be required to go to customer and construction sites.
2. Exposure to rain, sleet, snow, dust, mud, heat, cold, noise, and other conditions typical of construction sites.
3. It may require working around harmful fumes and gases and different types of oils, grease, and certain acids.

STANDARDS OF MEASUREMENT

Rental Department Profitability (Gross Profit Margin):

• Achieve and maintain a minimum gross profit margin on all rental department operations.
• Monthly review of gross profit margin performance against budgeted targets, with variance analysis and corrective action plans implemented as needed.
• Focus on optimizing rental rates, utilization, and cost control to maximize profitability.

Equipment Utilization Rate:

• Maintain a high equipment utilization rate, measured as the percentage of time equipment is rented out versus available.
• Weekly monitoring of equipment utilization reports, identifying underutilized assets and implementing strategies to improve usage.
• Implement strategies to minimize downtime and maximize rental opportunities.

Customer Satisfaction Scores:

• Implement a system for collecting and analyzing customer feedback, identifying areas for improvement in rental processes and service delivery.
• Proactively address customer complaints and implement corrective actions to prevent recurrence.

Rental Agreement Processing Time:

• Monitor the time taken to process rental agreements, from inquiry to contract completion.
• Implement streamlined processes and continuously improve efficiency to minimize processing time.

Revenue Growth:

• Achieve year-over-year growth in rental revenue, measured by comparing current year revenue to the previous year's revenue.
• Develop and implement strategies to expand the customer base and increase rental volume.

Equal Opportunity Statement - Veterans Encouraged to Apply