4 Tips for Choosing the Best POS System for a Rental Company

4 Tips for Choosing the Best POS System for a Rental Company
Businesses that specialize in equipment rentals are realizing the benefits of choosing the best POS system to handle their operational challenges.

Like any business in the customer service industry, companies that specialize in rentals face significant challenges, such as inventory control, accounting and point of sale. However, given the back-and-forth dynamic of renting and returning items, business owners need to pay special attention when choosing the best POS system.

The standard of customer service for rental outfits--whether it's a party and event supplies company or a lawn and garden tool firm--needs to be stellar. The last thing a customer needs is to wait to fill out lengthy paperwork, or arrive at the store only to discover the rototiller they've requested has already been booked out.

Having the best POS system possible can help you streamline your operations and improve customer relationship management. Here's what you should look for:

1. Get your customers in and out quickly

Fully integrated POS systems are packed with helpful features that allow you to process and track customer transactions quickly and efficiently. By choosing POS software and equipment that has an easy-to-use interface, you'll be able to hire out a piece of equipment. 

In many instances all you'll have to do is click a few buttons:

  • Locate the item in your rental menu
  • Select the number of items your customer is renting
  • Find the customer in your database (include it if they're a first-time renter)
  • Take the payment or put it on account

The best POS software packages also make returning items and extending the rental period easy.

2. Track your inventory

Knowing where your products are is essential to operating a successful rental company. The embarrassment of a double-booking is not only awkward, it can lead to negative word-of-mouth advertising.

A standard feature of top-rated POS systems designed for the rental industry is the ability to easily track current and overdue rentals. This is critical for all manner of rental outfits:

  • Tools and equipment
  • Musical instruments
  • Audio-visual equipment specialists
  • Party and event supplies
  • Car rentals

By utilizing a system that adjusts your inventory every time an item is either returned or rented, you'll know what's available and what's not just by looking at your screen.

3. Handle complex orders

The best POS software systems will handle detailed ordering scenarios with ease. If you own a company that offers both retail sales and rentals, you'll be able to include both types of transaction on one invoice. Plus, if you've got a rental unit that you're looking to sell, you can easily switch it over to a retail item and adjust the price to reflect its used condition.

4. Boost sales by adding a rental component

If you operate a retail business and you're looking to diversify your operation, including a rental component can make sense in some situations: 

A furniture store could start a rental inventory for real estate staging

Sporting goods stores can easily get into equipment rentals

Computer dealers could provide rental solutions for seasonal businesses

Garden centers could start a tool and small equipment rental department

Rental companies that are interested in adding further flexibility to their operations should read: Why More Companies Are Including Mobile POS Systems for Retail. 

Are you looking for the best POS system that's tailored to meet the specific demands of your rental business? Windward System Five POS and inventory management software is an easy-to-use, feature-packed program that offers all-in-one business management solutions. Call or email us to learn how we can help streamline your rental company's operations.

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