Member profile: 40 years in rental, going on 100
By Brock Huffstutler
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Member profile: 40 years in rental, going on 100

PG Rental Centre in Prince George, British Columbia, Canada, celebrates its 40th anniversary in April 2022. With its recent acquisition of 52-year-old Saanich Rentals in Victoria, the business’s owners are eagerly looking forward to marking a combined 100 years in equipment rentals.

“PG Rental was incorporated in 1982. That is our primary location, and we acquired Saanich Rentals — which has been around for 52 years — just under a year ago. We’re really excited because between them, we are on the eve of being 100 years in the rental business. We cannot wait to celebrate that milestone. In this day and age, and the way the world evolves, the equipment rental business is the constant. Other industries come and go, but the rental business seems to be like it's here for the long haul,” says Todd Molland, PG Rental Centre president.

That’s a lot of rental history weight to bear for a relative newcomer to the industry like Molland, who purchased PG Rental Centre in 2015. But his previous financial experience coupled with his enthusiasm about the advantages of equipment rental business dynamics are strong motivators.

“I was the vice president at a bank and in the banking industry, there is a lot of pressure to move. My wife and I liked the community we are in, so we looked for other opportunities. When I did a Google search on the best businesses to own, the second one that came up was equipment rental — the first one was a denturist, and since I don’t have a background in dentistry, that was a no go. Fast forward two or three years later, we were able to purchase a rental business in close proximity to where I worked, and we've never looked back,” he says.

What was it about the equipment rental business that so appealed to Molland? “With my finance background, what I liked was that it is reasonably recession proof,” he says. “You don't get the peaks and valleys. On the downside, you don't get that hockey stick growth, but you also don't get that nosedive. I also liked the long, diverse customer list. I wasn't interested in a business that had one or two customers, because there would be too much concentration risk.”

At the end of the day, though, Molland most loved the prospect of helping a wide range of customers tackle a wide range of projects.

“Ultimately, it's the customers,” he says. “We can make a big impact and help a homeowner doing a very small project, and help a large corporate client mobilize and procure equipment. We get to help the entire spectrum of clients and can cater to all different people. There were a number of [attractive] aspects to the equipment rental business going into it, and now that I am into it, its growth has exceeded my expectations. That has been a huge win for us.”

Molland describes PG Rental Centre as a “general rents — we offer everything from aerators to 125-ft. aerial platforms, excavators and everything in between. We cater to everybody from the homeowner to the large industrial customer, so we are more of a generalist. We also do aerial platform training, service work, repairs and a little bit of resale.”

The business’s rental offerings are appropriate for the diverse economic landscape surrounding Prince George and the greater mid-British Columbia region.

“Prince George is in the Centre of B.C., so all goods and services come through here. Our town has forestry, postsecondary education, mining exploration — there's a number of industries that are very diverse, so we continue to evolve as our community does. At the same time, the one thing that has not changed in the past 40 years is that local homeowner doing their lawn and garden, small deck or bathroom renovations. That is the core part of our business. It has created a natural hedge for us because we don't focus on industrial. When you look at something like COVID, the industrial/commercial had a downturn; however, people spent more time at home. They focused on the area where they live because they're working from home, so that part of our business was really strong,” Molland says.

Molland’s acquisition of Saanich Rentals in 2021 extended his footprint in the equipment rental world by 700 miles and only deepens his appreciation of the industry in which he has invested.

“Saanich Rentals is actually south of Seattle because Vancouver Island hangs down below the 49th parallel. Their inventory is a little different focus — primarily lawn and garden for the homeowner and landscaper. They have not expanded into commercial/industrial. PG Rentals celebrates its 40th this April and Saanich Rentals is 52, so we are at 92 years. I look forward to another 92. It speaks to the resiliency of the business — that there is a demand for our services,” Molland says.

As he reflects on his now seven years in the equipment rental industry, Molland likens the vocation of rental to the fierce brand loyalty one might develop toward a favorite drink or other commodity and suggests that stressing that analogy may be a way to help plug the workforce holes that many rental businesses experience today.

“I think if you surveyed 100 kids under the age of 14, none of them are going to say, ‘One day I want to be in the equipment rental business,’” he says. “We need to get the message out about how fantastic it is to be in this business, how rewarding it is and how you come home feeling energized and that you've made a difference. A lot of people think of the rental business as being a job when in fact you can actually have a career. I don't think that's common knowledge. I find the equipment rental business is the equivalent of your favorite coffee shop: You go once and you're hooked for life. I think that's what the equipment rental business is like. Once you've had a taste, it's hard to leave.”

Brock Huffstutler

Brock HuffstutlerBrock Huffstutler

Brock Huffstutler is the regional news editor for Rental Management. He writes and edits articles for ARA’s In Your Region quarterly regional newsletters, Rental Management, Rental Pulse and other special projects. Outside of work, he enjoys biking and spending time at the few remaining vintage record stores in the region.

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