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As a rental store owner, you are a savvy business person. You don’t want to just know how to make money on the equipment you have while you own it; you want to know how to make money on the equipment when you sell it too. When a mobile elevating work platform (MEWP) has a good residual value over time, it becomes worth more in the market. This translates to competitive acquisition pricing for premium brands, a larger audience to sell your equipment to in the secondary market — and a higher resale value.

Rental is a business driven by numbers. For example, residual values are tracked across different sectors of the secondary market ranging from auction to retail market values. Strong residual value improves total cost of ownership, supporting future equipment financing and improved fleet management.

To measure residual value, the North American aerial work platform industry uses third-party reporting. This works like the Kelly Blue Book of the automotive industry, measuring and reporting used sale performance. In other parts the world, finance professionals and fleet owners constantly monitor used equipment websites, trade magazines and auction houses to better understand current residual values. However, anomalies in the market, such as sporadic mass auctions of one type of unit, can temporarily skew residual value data and negatively impact market performance.

To help prevent this, Genie has reinforced its aftermarket offering with its Genie Certified Pre-Owned program, which includes used equipment and reconditioned units. Genie also utilizes its international used sales channels and our factory-approved partner yard network to drive up residual values with better sales distribution of our products.

By constantly measuring the residual value of MEWPs in the market, these initiatives will help you keep a competitive advantage for your business by operating Genie^®MEWPs, while increasing the value of your Genie MEWP fleet in the secondary market.