Josh Nickell and Tom Nickell speak with Soyini Coke, host, of CEO Radio
- June 10, 2017
-- Josh Nickell, Owner of Nickell Rental, a family-owned equipment rental business in Newnan, Griffin, Hiram, and LaGrange, Georgia, appeared on the CEO Exclusive Radio Show along with his father, Tom Nickell, Founder and also Owner of Nickell Rental, on Tuesday, May 30th
during the 8:00am segment. The discussion covered many notable topics including teambuilding in the workplace, foundations of faith in business, and rising from the recession. But when the "shared economy" was addressed, it became clear that this hip new buzz phrase is not all that new to the rental industry after all.
"We've always been an ownership economy. We want to own our house, we want to own our car, we want to own our equipment on a jobsite, and particularly, with the millennials, that's starting to change," explains Josh Nickell. "More people are comfortable with an Uber, they don't need a car. More people are comfortable with not owning a beach house, they just airbnb it. That's trickling down to the rental industry, 'why own an aerator when I can just rent one.'"
The rental industry, though, has been a model for a shared economy for decades. Josh points out, "Why do I need to, as a contractor, invest in this really expensive mini-excavator that I now have to have drivers to move it around and mechanics to fix when I don't need it everyday –and my needs change from week to week from job to job. I can just go and rent it to save a lot of time and money."
For the contractors, renting seems to be most effective. "They don't have to pick the jobs that just focus on the type of equipment they have," says Josh. "Just to know they can have access to any kind of fleet they need is really empowering. But, surprisingly, it wasn't always this way. Before the recession, contractors mostly owned their equipment. Tom Nickell shares, "Once the recession hit, it was so bad, it humbled a lot of people. [Contractors]
decided, 'I'm not going to put that on my balance sheet anymore, I'm not going to take on that kind of debt."
Today, not only is renting saving contractors a lot of money, but it also provides more flexibility for them to take on any kind of job or project that they want. "They're learning that, not only do they not need to hire those drivers and mechanics with it, but they're also getting the latest model of equipment – so they're more efficient, explains Tom. "They're seeing the benefits of rental more so than they saw before."
For the entire discussion about impacts of the shared economy and the rental industry plus much more, visit the CEO Exclusive Radio website (http://ceoexclusive.businessradiox.com/2017/05/30/nickell...
For more information, including rental inquiries please visit www.nickellrental.com