Contractors Can Rent Out Their Equipment on Rubbl Online Market

00:00:00:10 - 00:00:20:19

Bryan Furnace

What's going on, everybody? Welcome back to Equipment World. You're watching the dirt. I'm your host, Brian. And today we're here to talk about a new player in the rental market. We're here to talk about Rubbl. Well, what is the platform and how exactly does it work?

00:00:20:23 - 00:00:29:05

Bryan Furnace

Here to talk about this today is Adam Greenberg. And he's going to break it down for us.

00:00:29:07 - 00:00:34:12

Bryan Furnace

So for the audience, can you give us a quick overview as to what Rubbl is?

00:00:34:14 - 00:01:01:10

Adam Greenberg

Okay. Rubbl is a rental marketplace that's fully transactional and transparent. We list equipment that belongs to contractors or individual equipment owners. Their work slow and so they can use our platform unless they're equipment and they set the rental rates. And our job is to get their equipment utilized and give them some money for their equipment so they can pay their note to their bank or, or pocket it themselves.

00:01:01:12 - 00:01:04:23

Adam Greenberg

So that's the the main business of Rubbl.

00:01:05:00 - 00:01:13:10

Bryan Furnace

Gotcha. And so on the site is it equipment only that's really available. What sort of things can you rent on Rubbl?

00:01:13:12 - 00:01:42:15

Adam Greenberg

Well, right now we're only renting self-propelled equipment and the few items that are not self-propelled, like light towers or generators that are on trailers, but it's mainly, earthmoving equipment, a lot of mini excavators, skid steers, smaller type of equipment. But we also have some medium to larger size, equipment as well. More, you know, for the civil side, we have some bigger excavators and some real letters and dozers as well.

00:01:42:17 - 00:01:54:07

Bryan Furnace

Okay. Perfect. So the big question I've got is if if people are renting their personal equipment on the site, two things. How does it insurance work and then how does transportation of the equipment work.

00:01:54:09 - 00:02:20:12

Adam Greenberg

On the insurance. We have rebel managed services. So when an order is placed, the renter has to purchase and damage liability insurance from rebel. So the equipment owner is fully protected. And for transportation, we give the owner the first right to transport their machine because we want them to benefit. If they have trucks sitting around, we want them to earn revenue on their trucks.

00:02:20:14 - 00:02:33:05

Adam Greenberg

If they decline to do it and the renter wants to pick it up, the rent is more than welcome to do that as long as they have the proper insurance. And if those two scenarios don't work out. We use third party truckers that are embedded in our network.

00:02:33:10 - 00:02:55:18

Bryan Furnace

Okay. Fair enough. That seems simple enough. So kind of mining the same vein as the insurance. How do you handle the prospect of machine damage not only on the front side of a transaction? You know, this is personal equipment. It's probably got some scratches and dings. But then also comparing on the back side of the rental when it comes back, how do you differentiate between new damage?

00:02:55:20 - 00:03:02:17

Bryan Furnace

But before we get into that, I want to take a second to tell you about the sponsor of this video, Chevron Lubricants.

00:03:02:19 - 00:03:27:13

Shawn Frasier

These cranes work around the clock for months at a time. If one of these agents ever goes down, it cost more than our reputation. Switching to Delos 685 has been a game changer. We've had no issues with cloud DPS. I mean, no region likes, no cleaning, no replacements, nothing. This all goes beyond anything we've ever used. I choose proven protection that keeps our cranes on the job.

00:03:27:15 - 00:03:31:23

Shawn Frasier

I choose Delos 600 ads.

00:03:32:01 - 00:03:35:13

Bryan Furnace

How do you handle the prospect of machine damage?

00:03:35:17 - 00:04:00:14

Adam Greenberg

Really? Good question. So damage is always a subject of contention between the the owner and the renter blaming each other. Who did what? So what we've done is we've built our own inspection app, and we would fire the owner prior to the machine leaving their yard to inspect the machine, and it prompts in to take pictures and videos and check off all kinds of boxes.

00:04:00:16 - 00:04:20:12

Adam Greenberg

When the machine shows up at the jobsite. The first thing the renter does when their machine is off loaded is to do the same thing at the end of the rental. The renter does it a third time, and then back in the owner's yard a fourth time. So there's a history and a timeline of all the inspections. And so there are no disputes.

00:04:20:14 - 00:04:24:06

Adam Greenberg

Who damaged what? And it seems to be working very well for us.

00:04:24:07 - 00:04:33:00

Bryan Furnace

Excellent. Are you guys rental only or do you offer any options if someone's maybe looking to offload a piece of equipment, a rent to own or an RPO option.

00:04:33:05 - 00:04:57:15

Adam Greenberg

So every owner is different. Some owners don't want to rent their machines. They only want to sell them. Yeah. So we received a lot of feedback from owners. And so we're adding a buy it now option on our site. And there's all kinds of backup support to sell that equipment with inspection app. They could upload their oil sample histories undercarriage before tire reports and component histories.

00:04:57:15 - 00:05:23:02

Adam Greenberg

And other owners don't want to sell their machines outright. But we offer a program called Rent to Own, and so the owner of the machine will list their machine on our site. They'll have a starting price purchase price, which is typically higher than the cash. Buy it now price. And we allow 80% of rent to apply against the starting price.

00:05:23:02 - 00:05:43:02

Adam Greenberg

So the renter has the convenience of using the machine and knowing if they like it or not. You know, try and buy it and they can use it for a while. And if they like what they see, they can convert the machine to a purchase at any time up to six months. And also it helps them, you know what?

00:05:43:04 - 00:05:55:17

Adam Greenberg

We're basically financing them. So when they do convert the machine, they have a lower, purchase price. So there's some equity that they built in the machine. So that's been a very popular, option on our site.

00:05:55:19 - 00:06:09:04

Bryan Furnace

Gotcha. So my final question for you is, as a new player on the market, I'm sure you guys are nodding your final form. What are your kind of future thoughts for Rubbl? What you see this kind of evolving into and what directions will you guys grow into?

00:06:09:07 - 00:06:40:08

Adam Greenberg

So we want to be a one stop shop for the construction industry. So pretty soon we're going to be adding dumpsters, mobile containers, 20 and 40ft containers, mobile offices, porta potties, anything you need on a jobsite. And we also have other, plans here pretty soon. If you need a rented equipment operator, we'll have certified operators on our site because some contractors will be moving from state to state, and they need equipment and with an operator.

00:06:40:08 - 00:06:52:06

Adam Greenberg

So we'll offer that option. And we have some other big plans coming down the road. But I really don't want to share them with you right now because they're pretty intuitive. So I'll just leave it at that.

00:06:52:11 - 00:07:08:06

Bryan Furnace

Yeah. Fair enough. Well, Adam, thank you so much again for the time and introducing us to Rubbl, I appreciate it. Well, thank you again for Adam coming on the show to give us a preview of how Rubbl works and what it's offering to the market that traditional rental companies aren't. So, as always, I hope this helps you and your business.

00:07:08:06 - 00:07:09:21

Bryan Furnace

We'll see you on the next episode of The Dirt.