AnyQuip pairs equipment owners with renters online

A new service is intended to get idle machines working by matching potential users through an app

As the old maxim goes, time is money. When it comes to equipment, operating time is certainly money – but the machine must be running and working to bring that money in.

When we are faced with a down market, such as the situation in Alberta and to some extent throughout the construction industry, the maxim becomes no work equals no money. That is a difficult situation to face for owners who have invested plenty of funds into their equipment.

A new approach to equipment rental is offering opportunities to get that equipment back to work and earning money faster. It’s a very different way of renting equipment that its proponents hope will lead to more uptime for machinery and other items that might otherwise be sitting on the lot waiting for the next job to come along.

“All over the world, contractors have equipment to do certain specific jobs – so there ends up being a lot of underutilized equipment sitting around,” related Steve Skiba, himself a contractor and now the CEO of Calgary-based startup AnyQuip. “If I have a construction company that is a paving and concrete contractor, I still might get odd jobs that require additional equipment. So, even in our busiest years, we still rent a lot of equipment.”

At the same time, most contractors have those pieces of gear that may be busy for long parts of the year and idle during another. “In a slow year, we may have a ton of our fleet sitting in the yard collecting dust – and still be still renting equipment because we don’t have the right mix,” Skiba said. “Guys buy the common material they need, then rent the other 20 percent.”

Traditionally, rentals are managed through a rental house – the contractor stops in, picks up the machine from the rental house’s on-site fleet, and carries on. That can be pricey in the long run, though – Skiba knows that from experience. Finding a cost savings while also finding the right piece of equipment at the right time was a challenge. However, after experiencing some peer-to-peer service, Skiba came up with a new approach to equipment rentals.

“I was in Philadelphia… and taking Uber everywhere. At the time, oil was down below $40 a barrel, and I knew I’d have a lot of equipment sitting around. I wondered ‘why can’t we do this with equipment?’” Skiba said. “Why can’t we take those underutilized assets and put them to work?”

That’s where the concept of AnyQuip came from. It is a system that bypasses the rental houses and puts rentals into the hands of the equipment owner and renter themselves.

“We already do contractor to contractor rentals in my business – I rent to my friends all the time. But, your network might only be 12 to 15 people who would rent from you and you would rent from,” Skiba said. “There’s no structure, and no contract, and the bottom line is that if those guys aren’t looking to rent then I have equipment sitting idle.”

Instead, AnyQuip provides an online marketplace that offers owners a place to advertise their equipment and renters a place to pick up what they need without having to deal with the rental house. Much like Uber or Airbnb, it is designed to give a snapshot of the equipment that gives potential renters an idea of what the machine looks like and its level of maintenance.

“As a contractor, you would sign up as a member, and we would vet you – make sure you’re an actual business, check any Better Business Bureau issues, and so forth,” he said. “Each user gets ratings, so you’re really concerned about your reputation on the platform. If you’re someone who doesn’t care about that, then you won’t last.”

The website provides a list of products available, along with a price, notes on whether transportation or operators are available, and numerous other factors regarding the piece of equipment being rented out. Once a potential renter – who is also vetted – is on the site, AnyQuip helps make those connections by providing the necessary contracts, prompts for mandatory insurance certificates, payment processing and detailed pre- and post-inspections, while taking a small fee on each successful rental. The renter is required to treat the machine just as they would their own – and are rated poorly if they don’t. All activity and communications, including all inspection data is saved on the site and protects both owner and renter in the case of any disputes that may arise. AnyQuip also works with the renters to ensure they have everything they need to keep the machines working well.

“If you don’t have a maintenance truck, we’ll get one for you. If you don’t have a fuel truck, we’ll get that too. If you don’t want to transport it, we’ll get that,” Skiba said.

The result is a generally lower rental cost, and a higher utilization for that piece of equipment.

“Rental houses charge a rate that is what they need to survive. They need to pay their sales people, they have to pay for a building, they have mechanics and all the overhead,” he said. “If I have a piece of equipment sitting underutilized, I can put that on AnyQuip and there’s no real overhead attached to that. What we’re trying to do is make it simple for contractors to make a solid deal on a piece of equipment.”

AnyQuip recently launched in Alberta, initially targeting both the construction and oil and gas markets that use plenty of different types of equipment, from light towers and generators to large excavators. It has begun to expand into Saskatchewan and southern British Columbia, with the hope of going even further in all industries where heavy equipment works once it has established itself as a good rental option, Skiba said.

“We probably have more rental requests than we do equipment. We’re getting a lot of questions, but we aren’t getting pushback – guys realize that if they don’t start moving this equipment, they won’t be in business,” he said. It’s likely that rental will have an even greater role in the future, Skiba suggested.

“We’re already seeing it in our business – we may get beat on a job by a guy who owns a single piece of equipment – he just rents,” Skiba said. “There will be contractors who don’t think twice about not owning equipment.” OGPN

Company Info

  • AnyQuip Inc.

    Suite 100, 1410 1 Street SW
    Calgary , AB
    CA , T2R 0V8

    AnyQuip is Canada’s trusted contractor-to-contractor heavy equipment rental network. Our members-only marketplace helps to increase equipment utilization in every industry where equipment works: Construction, Energy & Utilities, Agriculture & Farm, Landscape & Snow Removal, Forestry & Environment, Mining, Trucks & Trailers, and Industrial Support.

    Read more

Latest News

Tags
Pipelines
Software & IT

Schneider Electric shares improvements to pipeline management software

Schneider Electric Software recently hosted its midstream industry user conference, Innovation Summit: Digital Pipelines 2017. The event focused on innovation and excellence in pipeline operations in the areas of safety, efficiency and connectivity. At this event, Schneider Electric Software made a number of significant product release announcements that deliver enhanced functionality and usability to users of Schneider Electric's pipeline management software. 

Read More

Tags
Occupational Health & Safety

Cut-resistant gloves for hazardous working environments

Honeywell offers a new line of lightweight, cut-resistant gloves that allow industrial workers to perform delicate tactile work while providing heavy-duty protection against lacerations. Honeywell Perfect Fit A6 glove gives workers excellent tactile sensitivity and dexterity for performing precise manual tasks, such as small parts assembly, while also preventing cuts and lacerations.

Read More

Sponsored Content

TESTS SHOW VOLVO AT 20 PERCENT LOWER COST PER TON

The Volvo EC350E and EC380E were put up against two industry leaders to see how each would perform in terms of productivity and fuel efficiency. The four comparable machines were equipped with fuel meters and put through the same test, loading trucks at maximum power. The results were used to calculate estimated time and cost to move 551,156 U.S. tons (500,000 metric tons) of material. Calculations are based on 50-minute work hours, 8 hours per day.

The Result: Volvo delivered a 20% lower cost per ton and moved 15% more material per hour. 

Learn More

Tags
Pipelines
Instrumentation, Systems & Automation

Turbine flow meter an easy drop-in replacement for many existing units

AW-LAKE COMPANY has introduced the TW Series Turbine Flow Meter for the most rigorous flow measurement applications. Ideal for use both on and off the oil field, the TW Series Turbine Flow Meter provides highly accurate (to ±1% of reading or better) and repeatable (0.1% repeatability) flow measurement of oils, water and some chemicals with a low cost of ownership.

Read More

Tags
Industry News

Quebec releases draft of proposed oil and gas regulations

Quebec's Ministry of Energy and Natural Resources has published its proposed regulations to govern oil and gas activities within the province. The draft regulations are required for the implementation of the Petroleum Resources Act, which was enacted as a result of the adoption of Bill 106, An Act to Implement the 2030 Energy Policy and to Amend Various Legislative Provisions in December 2016.

Read More

Tags
Industry News

Hangingstone officially opens with ribbon cutting ceremony

Premier Rachel Notley cuts the ribbon to mark the official opening of the Japan Canada Oil Sands Ltd. (JACOS) Hangingstone project near Fort McMurray.

Alberta Premier Rachel Notley, representatives from Japan and local officials have marked the opening of the Japan Canada Oil Sands Ltd. (JACOS) Hangingstone project near Fort McMurray.

Read More

Tags
Software & IT
Instrumentation, Systems & Automation

Improving control room management reduces stress and improves operations for pipelines

The control room is the brain of pipeline operations; it serves as the command center for decisions both inside and out in the field. The brain thinks clearly and strategically when it is used to its full potential; when overwhelmed with information, it causes stress and lack of direction. The same is true for pipeline control rooms and operators. 

Read More

Tags
Instrumentation, Systems & Automation
Software & IT

Internet of Things requires solutions for connectivity concerns to succeed

Energy companies will struggle to derive the maximum value from the Internet of Things (IoT) without access to radically improved, reliable, high-speed connectivity. This is according to independent research commissioned by Inmarsat, which found that while the overwhelming majority of energy companies are in the process of deploying or developing IoT solutions, low rates of connectivity are preventing them from realizing the full benefits that IoT can deliver. 

Read More

Tags
Environmental
Industry News

Cenovus on Dow Jones Sustainability index for eighth year

Cenovus Energy Inc. has been recognized once again for its corporate responsibility performance. The company has been included in the Dow Jones Sustainability North America Index for the eighth consecutive year. Cenovus is one of only two Canadian oil and gas producers to make the index this year. Areas where the company scored well include stakeholder engagement, environmental reporting, water management, social reporting, risk and crisis management, biodiversity, corporate citizenship and philanthropy, climate strategy and corporate governance.

Read More