Dozr, an online heavy equipment marketplace, says it has begun operating in Florida, providing area construction and agriculture equipment owners a way to make money from their idle machinery.
In the construction industry, the cost of owning and operating equipment is a big factor in profitability. As the owner of a commercial landscaping company, Dozr co-founder and CEO Kevin Forestell hated watching his equipment sit idle between jobs, and he knew other contractors were in the same situation. With Dozr, owners can post their equipment for rent, and Dozr helps match them people in need of machinery, with insurance coverage built in to the platform. It’s like Airbnb for heavy equipment.
“With so much economic growth, construction and agriculture happening in Florida, there is a big demand for equipment,” Forestell said. “Dozr is here to help connect people with extra equipment with people who need it so that projects can stay on track and owners can earn revenue from their equipment.”
Not only does Dozr create revenue for equipment owners, rates on the contractor-to-contractor platform tend to be about 40 per cent less than retail rental rates and the variety of equipment is greater. Dozr offers both construction and agricultural equipment and is free to join.
Dozr launched in Ontario, Canada in 2015 and is expanding operations in the United States following a $2.5 million (Canadian) equity financing round with FairVentures Inc., the innovation initiative of Fairfax Financial Holdings Limited. After moving into the New Jersey market in December, Dozr is now open for business in Florida with an initial focus on Miami, Tampa and Orlando.
When Dozr began facilitating rentals in New Jersey, the company quickly noticed New Jersey contractors renting farm equipment from Canada to use for snow removal. They expect Florida contractors will be able to find great deals on construction equipment from Canada and northern states where work is minimal until spring.