Tracktor is a construction equipment rental marketplace that first launched in 2016. The technology of this platform makes it possible for customer companies to identify the machines available for rent near a construction site and to reserve them with a simple click at the prices available on the platform. These prices are about 20 to 40% less high. It automates 80% of administrative tasks like signing contracts, availing insurance, generating invoices, etc., saving users time. In this article, we will dive deep into the Tracktor business model and understand a few essential things about the company, like how tracktor makes money, how tracktor works, and who the company’s investors are as well as its competitors etc. So, without any further delay, let’s get started.
Tracktor business model
The Tracktor platform works by combining human expertise and technology to transform monotonous and time-consuming work into an effortless and reliable experience. The idea of launching the Tracktor platform was born in the minds of its 3 co-founders, Idir Ait Si Amer, Julien Mousseau, and Laura Medji. Idir Amer is the CEO of Tracktor SAS. Laura Medji is the Cofondatrice Et Chief Technology Officer here, whereas Julien Mousseau is the founder and managing director.
It is the first network of independent rental companies in France and the rental reference for construction, industry, and event professionals.
The platform creates a contract and inventory, accepts payments, and provides an insurance contract with its partner SMABTP that covers the equipment for the rental period, and users are rated systematically. It can also help users with logistical management.
Rental equipment offered by the platform
- Equipment to work at height:
- Bucket Truck
- Mobile Scaffolding
- Spider Pod
- Articulated platform
- Scissor lift
- Telescopic Platform
- Toucan Carrycot
- Cherry picker
- Equipment for earthmoving and extraction:
- Loader with driver
- Mini Loader
- Mini excavator
- Mini excavator with driver
- Excavator with a driver.
- Equipment for lifting and handling
- Glaslift Window Mount
- Mobile Crane
- Crane on Trailer
- Mini Spider Crane
- Mini Mobile Cranes
- Goods lift
- Transport and lifting services
- Pallet trucks and stackers
- Equipment for loading and transport
- Dump Truck
- Crane Arm Truck
- Equipment for structural work and demolition
- Site Equipment
- Construction barrier
- Rolling plate
- Vibrating plate
- Toilet building site
- Air compressors
- Fuel tank
The Tracktor team is on a mission to make the rental of equipment and machines accessible, easy, and cost-friendly for customers throughout the country. This is what all companies in the online equipment rental industry are aiming at. However, simply making connections is not the only task that the company is doing. It has positioned itself as a trusted third party by securing transactions by introducing a standard contract. For each rental that is made through the platform, the platform generates a standard contract, a clean inventory, and a checklist to manage relations between the two parties. Its features include:
- Secure payments: All payments are done online and are secured by Mangoepay via a cantonment system.
- An insurance contract built with SMABTP. This insurance contract protects the machine for the duration of the rental. It is only valid for construction companies and traders, as the rental companies are already secured.
- Systematic assessments: Every user rates each other after each rental that is made through the platform. This procedure ensures that all the users are getting high-quality services.
Who can use tracktor.fr? Who are its users?
As owners, three types of users are currently using the platform:
- Companies that have equipment that sleeps between two locations and want to generate extra cash quickly
- Traders that buy and sell machinery are thinking about leasing them until they find a buyer.
- Professional rental companies that want to use the platform to automate their business, find new customers, and save time.
As tenants, they are mainly artisans and SMEs working in the construction industry. These companies have ad hoc requirements and do not have any framework contracts. They are just looking out for a solution to rent quickly and that too, at the best available price.
How does Tracktor work?
Companies with unused hardware can register for free and post classified ads, as well as manage rates and availability. The platform validates the announcements. Those who want to reserve a machine must first choose the type of machine, the location, and the days they want to use it. The site shows machines in the area that fulfill the criteria. Then, with a single click, you can compare pricing and availability in real-time and make a reservation request.
Payment is made online as soon as a request is approved, and a basic contract, a blank inventory, and a checklist are provided. The software creates an invoice after the rental period, and users can rate each other.
Steps for users to use the tracktor.fr platform:
- The platform offers a search engine or a catalog. You may access an offer of more than 30,00 machines throughout France. Also, if any person requires a specific request, you may contact them.
- After you choose your required equipment, you can avail yourself of a
the personalized quote at the best price.
- Now, you can easily download the quote from the platform itself and then book directly in less than 3 minutes. Indicate your limitations (site contact, delivery time, etc.) and pay on your terms (cash or 30 days at the end of the month).
- Also, the platform provides you with 35 advisors’ support from start to finish.
How does Tracktor work for its partner companies?
- Fill up a form to become a partner with Tracktor.
- Now, when you have become a partner, you will receive qualified requests close to your agency.
- Obtain the required information to deliver the equipment.
- At the end of the rental, obtain an invoice through the platform and guarantee the platform.
Who are Tracktor’s investors?
According to Crunchbase, Tracktor has raised a total of $16.2 million in funding in over 3 financial rounds. The company is being funded by 7 investors, namely,
- AXA Venture Partners
- Pierre Kosciusko Morizet
- Kerala Ventures
- Pierre Kings
- BTP Capital Investment.
The latest funding was raised on Feb 23, 2022, from a Venture-Series Unknown round, and the most recent investors in the company are AXA Venture Partners and Bpifrance.
How does Tracktor make money?
Every equipment rental company has a variety of revenue-generating options. These are the most common.
- Commission: Every transaction that takes place on the platform earns the equipment owner a commission, and the platform itself charges the remaining portion.
- Advertising: Equipment owners can use the platform to promote their products. The platform determines the cost of advertising based on the number of clicks/views.
- Featured Listings: For a fee, equipment owners can have their listings featured in the featured section.
- Subscriptions (Premium subscriptions): Each platform offers various subscription plans that sellers can purchase to receive additional benefits in conjunction with their normal platform operations, such as reduced delivery charges, discounts, and so on.
However, when we specifically talk about tracktor.fr, its (almost) complete revenue model is based on commissions. The registration and publication of announcements are completely free here. The platform is compensated by a 10% commission on the rental amount, which is a win-win situation. The site offers construction businesses and traders an insurance contract with its partner, SMABTP, which results in an additional commission being invoiced to the owner.
Who are tracktor.fr’s competitors?
As per the analysis given by similarweb.com, tracktor.fr’s top competitor is loxam.fr.
Other competitors include:
Other competitors in Paris include
- Stark Manufacturing
- OCSI Group
- Golden Bees
- Dan Cummins Auto, and a lot more.
According to research, the global construction equipment rental market will reach $250.4 billion by 2026, growing at a CAGR of 3.8 percent. This information demonstrates the enormous profit potential in the equipment rental market in the coming years. Renting equipment makes financial sense because it saves a significant amount of money over purchasing new equipment and lowers common expenses like labor, maintenance, and operational costs.
The equipment rental industry contributes significantly to the US economy. Short-term rental and leasing initiatives are included in this estimate, indicating that overall equipment rental activity is expected to increase.
If you are willing to launch a heavy equipment rental platform similar to Tracktor, Ncrypted Technologies has the right solutions developed by our capable and innovative workforce. We offer customized and innovative features as per your requirements to let you launch a thriving equipment rental platform.