In the Middle East region, the equipment rental industry is growing at an astonishing compound annual growth rate (CAGR) of 7.17% in the projection period 2021-2030. The various infrastructure development projects and privatization in the region can be said to be the main factors behind the growth. For example, Saudi’s ‘Vision 2030’ project aims to build over 500,000 houses, 275,000 hotels and nearly 6.1 million square meters of office space by 2030.
Due to similar projects, growth in the equipment rental industry, especially in the Middle East region is inevitable. One such player capitalizing on the arising opportunity is Dayim Equipment Rental. In this article, we aim to help you understand how you can launch your own website like Dayim and manage operations with an easy-to-use rental platform.
About Dayim Equipment Rental
Dayim Equipment Rental is a full-service equipment rental organization that has been simplifying heavy equipment sourcing operations in the GCC region for the past 13 years. As mentioned on their official website, Dayim serves various types of consumers including both large scale and small scale construction companies, refineries, manufacturing plants and even government contractors.
The product catalog of Dayim ranges from earthmoving, material handling and compaction equipment to electronics, aerial work and power generation equipment. Some other value added services that Dayim Equipment Rental provides are GPS tracking and training courses.
Statistics About Dayim
- Founded in 2010
- Operations in Saudi Arabia, UAE, Qatar, Kuwait and Bahrain
- Deals in aerial, electrical, air compressors, compaction & paving, earthmoving, material handling and power generation equipment
- Estimated annual revenue: $264 million
Creating a Website Like Dayim Equipment Rental
A rental website is required to conduct online equipment rental operations like Dayim. However, Dayim’s website goes a step ahead and enables real-time bookings on the platform. This simplifies the renting process for clients who can directly book equipment from the website without contacting the supplier.
Here’s how an equipment rental website works in more detail:
Operational Model of an Equipment Rental Website
- The business owner uploads equipment listings on the website
- Clients visit the website and browse equipment listings
- To place an order, clients enter rental date inputs through a dedicated booking calendar
- For completing the transaction, clients submit a security deposit along with the rental fee and also sign a rental agreement
- Once the order is placed, the business owner completes the order via the selected fulfillment method, i.e, delivery or pickup
- After usage, the client returns the equipment
- The business owner inspects the equipment for any damages and reimburses the same from the client’s rental security. In case of no damages, the entire rental security is returned to the client
Build An All-Inclusive Equipment Rental Website Like Dayim’s
Features Required on an Equipment Rental Website
To successfully manage equipment rental operations through a website, you will need the following features. For a better understanding, we have divided these features into basic and advanced features:
- Booking Calendar: Just to accept online bookings, you need a booking calendar that can take rental date input from clients and assist with rental invoicing.
- Inventory Management: Inventory management features, such as inventory tracking, lower stock level alerts and product variations will help you manage your overall equipment.
- Order Management: These features are required to stay in control of your online operations. For example, with order management, you can keep track of order history, view completed orders, pending orders, payment status and more.
- Content Management: For managing your website, a content management system is important. It helps in editing and managing homepage, landing pages, blogs, navigation menu, footer section, etc.
- Payment Management: A payment management module is required to set up payment gateways, currency options and levy taxes.
Read Also: Create a Construction Equipment Rental Website Like United Rentals
Basic features do the bare minimum to help you launch an operational website. They may not be that efficient at securing your rental operations and help you deal with multiple rental use cases. Thus, to further streamline your rental business and conduct smooth operations, you also require the following advanced features.
- Rental Agreement Management: This feature allows you to upload your rental and terms and conditions and get them eSigned by the customer right before placing an order.
- Rental Security Management: Required if you want to collect a rental security amount for lending your heavy equipment. With the help of rental security, you can easily reimburse any damages or levy other types of charges.
- Document Verification: Verify identity proofs, address proof and even operating licenses and work permits on your website.
- Request for Quote (RFQ): Equipment rental orders can be very complex. To deal with such complex orders, allow customers to request a price quote. By handling RFQs through your website instead of personal phone calls, you can keep record of all your stated terms and quotations on your online platform.
- Tiered Pricing: Set daily, weekly and monthly rental pricing for all equipment on your website.
- Rent plus Sell: The selling option on your rental website gives you the versatility to generate profit from both rental and sales models. Some common use cases of sales feature include clearance sales, consumable product sales and when a client prefers to buy a rented equipment.
- Rental Add-ons: These are the complementary products and services that are often required with a rental equipment, for example; head attachments, fuel, lubricants, body covers, toolkits, servicing and even equipment operators.
- Late Returns Management: To ensure timely returns and recover lost opportunity costs, you need late returns management features. These can include tracking upcoming returns, sending timely alerts and notifications, and levying fines for varying late return periods.
- Late Cancellation Management: Late cancellations often result in lost order processing costs that may include cleaning costs, servicing costs, fuel costs and labor costs. To recover these costs, late cancellation management features allow you to define varying late cancellation periods and levy appropriate charges.
- Reports and Analytics: Detailed reports and analytics on various fronts such as revenue generated and top performing products are required to make data-driven business decisions.
Get all Rental Features in a Single Website with Yo!Rent
YoRent for Creating a Rental Website like Dayim
Using a readymade software is a highly recommended approach to develop an equipment rental website like Dayim. While there are many rental software available in the market, using YoRent for your website has several advantages.
First, YoRent is expertly developed to help you manage and deal with a wide range of rental business use cases. For this reason, it has a plethora of features including both basic and advanced ones mentioned above. In addition, YoRent is a self-hosted solution that gives you the freedom to host your website on a secure or faster server of your choice.
Being self-hosted, YoRent is fully scalable. Meaning, it supports unlimited listings, transactions and user profiles that are required to grow your business. In contrast to SaaS solutions, YoRent is available at a one-time cost. If we add up YoRent hosting type, one-time costs and full scalability, we realize the high cost effectiveness of YoRent in the long term.
Reasons to Select YoRent Equipment Rental Software
- Complete white label solution
- Already serving 40+ rental niches in 70+ countries
- Pre-integrated with 20+ payment gateways
- Multilingual and multi-currency to help you expand your business in other regions
- Fully customizable and scalable
- Available at a one-time cost, thus highly cost-effective in the long run
- Free 1 year technical support
Also checkout: How to Create a Rental Website like Sunbelt Rentals
How to Get Started with YoRent?
Step 1: Get in touch with our experts to obtain YoRent’s lifetime license
Step 2: Our team will deploy Yo!Rent on your server
Step 3: Add information and equipment listings
Step 4: Grow and manage your equipment rental website with YoRent
On exploring Dayim’s website, you will realize that its value proposition is in the variety and quality of equipment it provides. Additionally, its rental services are also available in 5 countries. Thus, to manage such a large catalog, inventory and multiple regions, you need a robust and feature-packed website like Dayim’s. While you can follow the same operational model as Dayim, it is best advised to personalize your user-experience for customers and build a unique brand value. Modern readymade software can assist you with all of these.