You’re right on track thinking beyond just profits. For your excavator rental business, success can be gauged in several ways.
Firstly, customer satisfaction is vital. Collect feedback, check repeat business rates, and resolve complaints promptly.
Secondly, look at your fleet utilization rate. If your equipment isn’t rented out most of the time, it might indicate a need to adjust your marketing efforts or revisit your target market.
Thirdly, consider your maintenance costs. Keeping these low without compromising on the quality and safety of your equipment is crucial.
Lastly, financial metrics like revenue, profit margins, and return on investment are important too.
Remember, every business is unique. You might need to prioritize certain aspects over others based on your specific circumstances. Stay adaptable and keep learning.
Good luck with your venture, John!
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