Genie’s “Ask Me Anything” Online Event to Focus on Rental ROIC

Genie is inviting customers to ask question about rental return on invested capital during its upcoming “Ask Me Anything” event, March 26-30. On Monday March 26, Genie will post an AMA prompt on the Genie Aerial Pros AMA Event page. The post will stay open or live for questions and comments through Friday, March 30. The goal of this fifth Genie AMA event is to educate customers on using rROIC to financially plan for business success, the company said.

“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. “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 past 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 and issues, depreciation and resale prices.

“Today’s fleet managers have the ability to determine the profitability of a particular machine or machine model,” Wickstrom added. “During this 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.”

In advance of the event, Genie encourages customers and key stakeholders to gain preliminary information on the 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 posted and reviewed, Genie will post responses from its staff, including engineering and safety experts, to the questions in a timely manner, the company said. Customers wishing to participate in the AMA event, or simply to follow the questions and responses, can access the Genie Aerial Pros website through aerialpros.genielift.com, www.genielift.com, or through the company’s social media pages: Facebook (GenieLift), Twitter (@genieLift), LinkedIn (Genie Industries) or Instagram (@Genie+lift).

“rROIC is 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,” added Wickstrom. “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.”

The link for the event will not work until the event opens on March 26.