Ideas for building a profit plan highlight Lunch & Learn
By Brock Huffstutler

Ideas for building a profit plan highlight Lunch & Learn

Equipment and event rental operators from across Georgia gathered in Marietta, Ga., on April 12 to gain insight and discover actionable techniques to take their rental business to the next level at a “Lunch & Learn” focused on building a successful profit plan.

The ARA of Georgia’s spring event, hosted at Elegant Affairs Conference & Event Center, featured speaker Rod Bristol of Profit Soup, who delivered two sessions, each targeted to specific members of a rental company’s leadership team.

The first session, “Profit Maker’s Master Plan,” was geared to owners and leadership team members who have access to financial statements and provided instruction based on a rental store case study to assess financial performance, identify business priorities, brainstorm solutions, set goals and engage the team.

The second session, “Build Your Profit Maker’s Intuition,” was intended for owners or branch managers tasked with improving profitability and delivered ideas for developing sales and expense management goals to drive profitable growth, and other best practices for maximizing return on investment (ROI).

Feedback from those who attended the meeting suggest that the subject matter discussed at the Lunch & Learn was relevant and expertly delivered.

“The topic of this event seemed like it would be helpful to our business,” says Nathan Crumley, owner, M and R Rental, Gainesville, Ga. “The speaker and material were excellent and extremely useful. My main takeaway was that consistent and timely examination of financial reports will allow management to make minor changes that can produce big results.”

“We are really good at serving clients and installing tents, but we always need more guidance and strategy in how we make financial decisions, how we evaluate the health and performance of our company, and how we strategize for future growth,” says Brian Corrigan, owner, Macon Tent Rentals, Macon, Ga., and an ARA of Georgia board member. “I realize that I need to know our ‘magic number’ so that when goals are set, I can financially analyze what steps must be taken to reach the goal.”

Corrigan adds that Bristol’s expertise and delivery manner provided an interesting take on “an otherwise boring subject — financial reports. Profit Soup is phenomenal. Rod is both energetic and engaging and has so much life experience and knowledge of the subject matter that you can’t help but give him your full attention.”

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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