Historically, right before an election, many people feel the unease of uncertainty. This year, a poll from Equipment World reported that out of 57 dealer respondents, 68% were “very concerned” about the election. This anxiety, combined with higher building material costs compared to previous years, creates additional stress for business owners when planning for the upcoming year.
To address some of these industry worries, Dennis Howard, Senior Vice President and Host of The Track, shares strategies that help contractors manage risk and safeguard their businesses' bottom line through RDO's partnership with ForConstructionPros.com.
In case you missed it, Howard’s recent articles published on ForConstructionPros.com featured expertise from RDO customers and partners across the company’s 12-state footprint. Scroll to read quick snapshots of Howard’s recent columns.
Renting Construction Equipment is Good Move for 2024's Economy (May 2024)
With high business costs in the construction industry, now might be the right time to rent equipment instead of buy.
Unlike 2021, when supply chain shortages pushed contractors into renting or buying a used machine, this year’s market conditions and strategies learned from years ago prove that renting construction equipment allows contractors to adapt to the ebbs and flows of their business needs.
Read Howard’s article to learn the market changes that make rental equipment an attractive option and set contractors up for success.
Ready to ask your trusted equipment dealer about rental options? Watch this episode of The Track featuring Scott Turner, RDO Equipment Co. Rental Inventory Manager. Turner dives into the questions contractors should be prepared to ask when looking for a rental machine.
Heavy Equipment Sticker Shock? What Can Contractors Do? (June 2024)
Whether you’re browsing construction equipment on the lot or food in your local grocery store, there’s a good chance you’ve done a double-take at prices within the last year. Unfortunately, construction equipment has not been immune to the heavy toll of inflation. Overall, equipment prices are up as much as 30% compared to 2020, according to Associated Builders and Contractors.
With prices across the U.S. increasing, the risk of sticker shock is rampant. Industry veterans like Howard have experienced price increases but nothing like this year’s record numbers.
Read this article to learn about the cyclical nature of the equipment market and what contractors can do to pad against the sting of higher prices.
One strategy that Howard recommends? Consider alternative purchasing options like Rental Purchase Options (RPOs) or trading in one of your machines for a newer desired model.
Watch this episode of The Track, where RDO’s Equipment Inspector Jeff Ward joins Howard to explain the trade-in inspection process and tips to extend any machine’s lifespan.
Lessons to Follow for Efficiency During Changing Demand (August 2024)
Nonresidential, infrastructure and highway construction jobs continue to rise as communities demand vital road improvements and essential services. According to Richard Branch, chief economist at Dodge Construction Network, highway and bridge construction averaged a 16% increase in jobs, with projected spending of $152.3 billion during this fiscal year. Construction jobs for environmental and public works projects are climbing by 10%.
What does this all mean for contractors? Howard explains that competitive contractors can complete more jobs in fewer production hours, equaling less fuel, equipment and labor costs by learning these lessons.
Read Howard's article, in which he shares the productivity stories he discovered during customer job site visits.
Dave Cummings, Senior Vice President of Construction for Broken Arrow, swears by the efficiencies he gains by surveying his job’s site grade in real-time with his WingtraGEN One II drone. Cummings joins Howard in this episode of The Track from Utah’s west desert clay flats.
Watch how Cummings uses the WingtraGEN One II drone to measure clay surfaces and monitor quantities to avoid wasting clay as operators move it to a desired grade. Once the clay dries, the grade changes out in the sun, and when it reaches Cummings' optimal level for removal, his operators are ready to go to remove the precise amount.
Founded in 1968, RDO Equipment Co. sells and supports intelligently connected agriculture, construction, environmental, irrigation, positioning, and surveying equipment from leading manufacturers, including John Deere, Vermeer, and Topcon. With more than 80 locations across the U.S. and partnerships in Africa, Australia, Mexico and Ukraine, we deliver creative solutions so our customers can grow and build the world.
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