Editor’s note: EDCO – Equipment Development Co., Frederick, Md., was launched in 1959 with the creation of the surface grinder. The company currently manufactures an extensive line of saws and surface preparation equipment for the equipment rental industry. Housed in an 85,000-sq.-ft. warehouse, the company recently converted to a lean manufacturing method to streamline production. EDCO has had a long-term relationship with the American Rental Association (ARA) and has exhibited at The Rental Show for 52 consecutive years. Leo Swan, EDCO’s chairman of the board and CEO, was named to the Rental Hall of Fame in 2005. He recently met with Rental Management at EDCO’s headquarters and says he still enjoys the business. “I’ve had a tremendous amount of friends in the rental industry and when we were building the business, I did the traveling and selling. I enjoyed the business. I still do and I think it’s a great opportunity for someone who likes to get their hands dirty,” he says. The following questions were answered by a panel from EDCO, including Swan; Sue Stanczyk, his daughter; Frank Stanczyk, co-president and Swan’s son-in-law; Jason Stanczyk, Swan’s grandson; and Rich Quickel, EDCO’s sales manager.

RM: How much of EDCO is dedicated solely to rental?

Leo Swan: Much of our business is from the rental industry. We market directly to rental people. We’ve created and maintained a good reputation for ourselves and we intend to keep it. Anything we manufacture is built for some part of the rental industry. From the beginning, we’ve always developed our products to withstand the use and abuse of rental, and we never changed that philosophy. That’s made us successful and we’re very happy with that.

RM: How have the rental owners and customers changed?

Frank Stanczyk: Like with many industries, we operate in a “need it now” culture. Rental store owners demand answers immediately. Fueled by the Internet and large corporations entering the industry, it’s become fast-paced and more competitive. Accessing decision makers was easier when the majority of rental stores were single locations as they were the ones running the counter. Now we have to work even harder to show the industry how our equipment will ultimately benefit them and their customers. It’s our responsibility to provide customers more training and demos. If we can’t get to them personally, the Internet and videos help. We have to train them so they can answer their customers’ questions and make money. In the end, that’s how EDCO makes money.

RM: How has the economy affected EDCO’s business?

To read the rest of Whitney Carnahan’s interview from the July/August issue of Rental Management magazine, click here. Remember, those in the equipment rental industry can receive a free subscription to Rental Management by clicking here and completing a short subscription form.