Issue link: http://psai.uberflip.com/i/1276154
ASSOCIATIONINSIGHT Portable Sanitation Association International News BIWEEKLY EDITION AUGUST 5, 2020 Page 17 Make sure your contract and pre-rental consultation make it clear that if your driver arrives and is unable to access the units within X minutes of arrival on site, the customer will be charged a waiting fee. Inventory Tips 1. Tag your inventory. Each piece of equipment should have a unique identifier on it. Companies have used various methods for doing this, including affixing metal tags, writing on the equipment with permanent marker or paint, or using a Dremel-like tool to carve a number into an inconspicuous place on the body of the unit. Doing this allows you to document the full history of any unit, to log its exact whereabouts, and to identify it if it is stolen and decals are removed. You can also purchase more technology-based inventory tracking systems. Check out the PSAI's supplier directory online to find vendors for these products. 2. Simplify. Back when Southwest Airlines was first becoming "a thing" in cost-conscious travel, business schools studied how SWA kept their costs low. One thing they did that was very different from their competitors is they flew only Boeing 737s. This meant lower training expenses for mechanics and pilots. It reduced the chances of human error. It also meant SWA had to stock fewer parts and experienced less variation—hence, lower associated costs—in what was needed in hangers, tool kits, and jetways. You get the point. In the portable sanitation industry it is common, especially when companies are starting out, to have inventories of used units from various manufacturers. There's nothing wrong with this; it gives you a chance to see what you like and what works. However, the more you can simplify your inventory over time, the easier and cheaper it will be to maintain, transport, and sell. 3. Provide equipment or services your competitor doesn't offer. This may seem to be a contradiction of the statement above, but it isn't. We are not suggesting that you get into multiple business lines just because your competitor doesn't do those things. Rather, play to your strengths and abilities. Even if your competitor is huge and you are just starting out, it's possible you'll discover customers want things the competitor can't or won't provide. For example, the PSAI often gets calls from people who want one unit for a weekend. The big companies quite often don't take that business—it doesn't pay for them. But a smaller company with extra units on the yard can fill a niche and make a bit of money provided they charge appropriately for time and travel. Have a tip to share? Send it to karleenk@psai.org. v Tips for Making Money…continued from page 14