Ask Rental Return on Investment Questions During Genie Online Event


REDMOND, Wash. – Genie will host its latest online “Ask Me Anything” (AMA) event from March 26-30 with a focus on rental return on invested capital (rROIC). 

Customers are invited to ask their questions beginning March 26, after Genie posts an AMA prompt on the Genie Aerial Pros AMA Event page and  social media. The post will stay open, or “live,” for questions and comments through March 30. The goal of this fifth Genie AMA event is to educate customers on using rROIC to financially plan for business success.  
 
“ROIC is a calculation used to assess a rental company’s efficiency of converting its capital expenses into profitable investments,” said Galen Wickstrom, Genie national sales account manager for Terex AWP. “Essentially, rROIC gives our customers a sense of how well they are investing money to make money. This event will focus primarily on giving our customers information on how rROIC works—and can work for their businesses.”  
 
According to Wickstrom, in the last 10 years, the rental industry has become extremely proficient in the tracking of rental fleets by machine—revenue generated, rental rates, time of utilization, maintenance/repair costs, interest costs, downtime, warranty costs/issues, depreciation and resale prices. 

“Today’s fleet managers have the ability to determine the profitability of a particular machine or machine model,” Wickstrom said. “During the event, we will supply our customers with the answers and tools they need to assess rROIC based on the data they already have on their fleets.” 
 
Ahead of this event, Genie encourages customers and key stakeholders to gain preliminary information on this topic through a video presentation, which can be accessed through the Genie AMA Event Presentation. Additional information and resources can be found at aerialpros.genielift.com.
 
Once questions are asked and reviewed, Genie will post responses from its team members, including engineering and safety experts, to the questions in a timely manner. Customers wishing to participate in the AMA event, or simply to follow the questions and responses, can access the Genie Aerial Pros website in a variety of ways, including the dedicated website aerialpros.genielift.com, as well as via www.genielift.com and through the company’s social media pages: Facebook (GenieLift), Twitter (@GenieLift), LinkedIn (Genie Industries) and Instagram (@genie_lift).
 
“rROIC a topic that’s gaining a lot of interest in the rental industry, and a lot of our customers are making purchasing decisions with it in mind,” Wickstrom said. “Because it’s become so important in how we do business with our customers, now and in the future, we created this event to help participants understand not only what the acronym stands for but also what the implications are for the industry.”
 
For more information on Genie products and services, visit www.genielift.com.