Large Scale Construction Equipment 3.
Courtesy Company Nabil Kassam founded Noble Iron, a company that rents and sells heavy equipment for the construction industry, in Just out of Stanford business school, he was faced with an uncertain market, but came up with a business plan that upended traditional sales channels in the heavy construction industry.
Today Noble Iron is thriving, with employees in the U. I sat down with Nabil to find out how he updated a very closed and traditional sector. The following is an edited version of our conversation. Yes everything we do at Noble Iron is either online or via call center fulfillment.
What that does is really drive down overhead, which lets us come in at about a 30 percent lower price point than our competitors. This allows us to continuously improve the Noble Iron experience. What made you realize an idea like that was transferrable to heavy equipment?
Books and movies are one thing. But renting earth movers and cranes online? This is my third venture in construction and industrial equipment.
However, we were purely an amalgamator with Rent On The Dot. Rental companies provided inventory and customers rented it. With Noble Iron, we are a platform that owns inventory for rent; sells equipment; offers ERP software applications to our customers and other rental, dealership and construction companies; and is also an equipment marketplace.
Social media was really on the rise and I saw things such as Yelp and Open Table coming to the forefront. That opened my eyes to the possibility that the Open Table model could be brought into the construction equipment world.
I consider us a forward company.
Everyone needs to embrace innovation and technology as a fundamental way of doing business. If you look at Amazon, they probably own more brick and mortar infrastructure than most of their traditional retail competitors. During the early part of your career, you were doing turnarounds.
What brought about the shift to being more purely entrepreneurial? And during most of the time I was in business school, I thought I would go back into turnarounds when I graduated. Tell me about starting a business in ?
Not a great time to be starting a capital-intensive business. We had an idea, a business plan, and a team. But banks were very skittish and unwilling to lend.Machinery, Equipment & Infrastructure Business Plan.
Executive Vice President, President and CEO, of business in equipment, etc. ・ Synergies at Primetals (Metals machinery business) 【Business expansion during the Business Plan】.
Machinery, Equipment & Infrastructure Business Plan. Executive Vice President, President and CEO, Business Plan: Sales Trends of Major Business Areas of business in equipment, etc. ・ Synergies at Primetals (Metals machinery business) ・ Strengthening of .
Office Equipment Rental Business Plan House of Projectors has presented an office equipment rental business plan that is comprehensive and well researched. This small business has come up with the excellent idea of renting LCD computer projectors to small and medium companies.
Besides the formalities of starting any business, a rental business has extra insurance liabilities. Your entire business depends on non-employees interacting with your equipment.
So while you want to make sure you have good insurance for your equipment, your customers are your biggest risk. Equipment Rental, Inc. (ER) is a Breaux Bridge, Tennessee company that sells and rents heavy equipment such as dozers, backhoes, excavators, and trenchers as well as small home use and construction equipment such as tillers, augers, and chain saws.
Besides the formalities of starting any business, a rental business has extra insurance liabilities. Your entire business depends on non-employees interacting with your equipment. So while you want to make sure you have good insurance for your equipment, your customers are your biggest risk.