Written by Nick Garrard
Starting off a new year is a good time to re-evaluate your business and decide what changes you can make now to propel your business forward.
Last year, board members met in January to begin the process of rebranding the organization. For years, the (formerly) NBSRA had been guiding the shed rental market, but changes were needed to move the organization forward. What started as a question of how to evolve became a vision for the future.
The Board realized that a simpler, more straightforward approach with consistent messaging would attract a larger share of the market. However, simpler is not always easier—in fact, it rarely is. The hard work came in the form of developing core values and a mission statement to establish principles that would direct future goals.
I bring this up now because, as General Counsel for the NSRA, I see small, simple changes that can significantly impact businesses in the shed rental industry. Taking time to develop a straightforward approach now can help guide your business in the future.Â
Here are three key areas that caused issues for businesses in 2024.
1. REVIEW STATUTES AND UPDATE YOUR CONTRACTS
State laws change from year to year, and it’s crucial to ensure your contracts keep pace with those changes. I’ve also seen businesses expand into new states mistakenly believing that their contracts from another state will suffice. Please don’t fall into this trap.
Treat this time of year as your yearly contract check-up. Spend time reviewing relevant statutes and your contracts and make necessary updates.
If you need assistance, the NSRA can provide copies of state statutes. Contracts were the focus of a lot of litigation last year, and a review can help catch issues before they arise.
2. REVIEW YOUR POLICIES
How do you handle past-due collections? What about bankruptcy? Do you have a PACER account? (If not, what is PACER?) Much of my time last year was spent training clients to handle their own bankruptcy cases. The bankruptcy system is designed to allow creditors to manage many cases independently.
Some companies prefer to involve lawyers from the outset, which is perfectly fine. However, if you want to take on more of this responsibility in-house, now is the time to start. And if you’re handling these matters internally, ensure you’re compliant with all applicable regulations.
3. SPEND TIME WITH YOUR DEALERS AND DRIVERS
Your rental dealers may not be your employees, but they can still be considered your agents. The same applies to your delivery drivers.
Customers may interact with several individuals from the time they first step on a sales lot until they make their final rental payment, so it’s essential to ensure everyone is conveying clear, consistent messages about your transactions.
Spending time with these critical segments of your business can alleviate a lot of back-end chaos. This approach helps your customers see your entire team working together rather than perceiving a disjointed or confusing system.
In my line of work, simple is nearly always better. A streamlined approach helps prevent problems before they arise and provides customers with consistent messaging and understanding.
The NSRA is in a stronger position today because of the Board’s dedication over the past year to prepare for the future. Similarly, annual updates and reviews can help keep your company future-proof as well.
The NSRA is here to help, and we would love to have you join us in 2025.
Nick Garrard is a partner with Wilkins Patterson Smith Pumphrey and Stephenson in Jackson, Mississippi, and General Counsel for NSRA.
