John Vogel | Executive Vice President | Chicago Pneumatic Construction Equipment
Momentum. The Merriam-Webster Dictionary defines this as: “the strength or force that allows something to continue or to grow stronger or faster as time passes.” You hear it echoed often by sports journalists and broadcasters and it typically means that progress is being made. The same principle of momentum in sports can also be applied to business. For Chicago Pneumatic and the rental industry alike, we are feeling the continued momentum with yet another strong showing at the Rental Show this year in Atlanta — and for us, a record number for sales.
The economy appears to continue to climb back and we see it with each passing tradeshow. The Rental Show is a selling show and a huge deal to our organization. In fact, the show is so vital to our success, that we are one of the few platinum sponsors of The Rental Show. We really felt the rental industry pick up some momentum at the 2013 show, and we were pleased to see record growth at the show over the last two years.
As of March, the numbers show stable growth, which is forecasted to continue over the next few years according to the American Rental Association (ARA). ARA calls for a total revenue increase of 6.6 percent in 2016 and 5.6 percent in 2017. Total rental revenue, which includes construction/industrial, general tool/homeowner and party/special event, is now at $48.2 billion and projected at up to $53.7 billion in 2019.
As mentioned previously, we broke our sales record this year at The Rental Show. It was continuously busy at the show, much to the delight of the entire sales team. Our customers are extremely dedicated to our products and there are reasons for that; our products are incredibly efficient and durable – they get the job done. But, it is much more than that. Our customers rent and purchase our products because of our people. I have heard many stories from our customers about how great we back up our products, which is exactly how it should be and we pride ourselves on that fact. We want our customers to know that they are being taken care of and we are just a phone call or e-mail away.
Speaking of people, from our product managers to sales team to distributors, they all do a fantastic job. To honor these fine folks, we hold our annual sales meeting at The Rental Show each year. It is not only a crucial planning meeting, but we also celebrate with an awards ceremony. This year, we honored the following members of our organization in recognition of outstanding sales performance in 2015:
• Regional Sales Manager of the Year:
Rob Teasley, Chicago Pneumatic
• Rep Group of the Year:
Construction Products Sales (CPS)
• Ride-On Rollers Award:
Joe Dragon, Cardinal Sales
• Hydraulic Attachments Award:
Tony Kannenberg, CPS
We are grateful for each one of them, but we also know that it takes a collective team effort to produce the results we saw in 2015. For that, we thank the entire CP team — both internal and external — for their steadfast dedication to the organization.
The momentum we feel has been stable and all signs point to that continuing for the next few years. To me, the numbers are reassuring, and as the economy goes, so too do businesses — from the contractor to rental house to the distributor, rental representatives and manufacturer. When each of those players succeeds, the economy will continue to climb into the stable place we all love to see. Momentum is a beautiful thing – let’s keep it going.