Peer Executive Group is releasing quarterly rental financial benchmark dashboards.
“Any independent rental company now has the ability to compare themselves financially and operationally with their peers,” said PEG founder Dan Crowley.
Josh Nickell, former owner of Nickell Rental and now a PEG board member, launched PeerTech in 2020 and signed exclusive contracts with Baromitr.com to automate Peer Groups Quarterly Scorecard. “You don’t have to be a Peer Group member to benefit from the Quarterly Scorecard; it's available to all rental companies,” said Nickell.
Crowley initially focused the reports on sales growth rates, employee productivity, cash, and debt. “We will be adding dollar utilization in the new year, but it has been amazing for our members to see how they are doing versus the general population of rental businesses, and be able to filter based on ARA region, number of locations, or sales volume.”
Michelle Nelson, MK Equipment, in Oahu, Hawaii, said, “I like to filter to see how all single store operators with over $3 million rental are doing, since that is our business goal.”
“We see owners filtering by things like all reporting companies with over three locations but doing over $5 million annually, or single store locations at $2 million or less, they are literally just toggle buttons to change the view,” said Nickell.
The product was beta tested by about 13 ARA peer groups in both Equipment Rental and Party and Event. “During the pandemic, these operators knew exactly what was happening with rental volume in different regions of the country, it was amazing,” Nickell said.
Pricing is currently set at $300 per quarterly report.
Peer Executive Groups, recently named Emerging Business of the Year 2020 by the LV Business Journal, runs 19 peer groups in Equipment Rental, Party & Event, and Equipment Dealer industries. Approximately 200 owners and employees participate in its Business Advisory Group meetings and roundtables.
