Scientific Calibration Finds Add-On Revenue Channel Through KWIPPED’s Equipment Rental Marketplace

SciCal_PitConn_AdBackground:
Founded in 1996, Scientific Calibration established its respected reputation primarily as a provider of lab equipment calibration, repair, validation and qualification services for pharmaceutical and bio-tech companies. Possessing extensive equipment knowledge and expertise, Scientific Calibration expanded its services to include new equipment distribution and buying and selling refurbished equipment. Today, Scientific Calibration represents 30+ equipment manufacturers, including industry leaders like, Thermo Scientific, Greiner Bio-One and Wheaton.

Market Challenge:
When Scientific Calibration started selling equipment, they also started receiving occasional, unsolicited requests for equipment rentals.

“We’ve realized for a while that equipment rental represents a major opportunity to increase our customer base and our revenue. We’ve completed a few rentals here and there, but the reality is, we’re so busy with our sales and services business, we simply don’t have the time or resources to actively promote and manage a full-scale rental division,” explained Scientific Calibration Sales Account Manager, Jessie Nicholson.

Marketplace Solution:
KWIPPED is an online equipment rental marketplace designed to make it easy and efficient for organizations to locate and rent specialized lab equipment from a pre-sourced network of qualified suppliers. Renters visit KWIPPED.com to request the equipment they need – and the KWIPPED platform matches the rental needs with suppliers that can meet those needs.

KWIPPED identified Scientific Calibration as a highly qualified supplier prospect and invited them to join the KWIPPED Supplier Network.  On behalf of Scientific Calibration, Nicholson accepted the invitation, stating, “KWIPPED is a simple idea that delivers a lot of value for a company like ours. We had all this idle inventory just sitting around – now, thanks to KWIPPED, it’s out in the market making us money and attracting new customers for us. KWIPPED does all the marketing, acquires the customers, and delivers qualified rentals right to my inbox.”

“Without lifting a finger, KWIPPED has basically added on an entire new revenue channel for us,” continued Nicholson.

 

“We had all this idle inventory just sitting around – now, thanks to KWIPPED, it’s out in the market making us money and attracting new customers for us.”

 

First Rental:      August 2015
Total Rentals:   28
Total Rental     $87,560

 

Benefits Summary

  • Launch a full-scale, add-on rental program with virtually no effort or capital investment
  • Open an entirely new channel for ongoing revenue without sacrificing focus on core business objectives
  • Increase investment returns by activating utilization of idle equipment
  • Grow customer base by meeting needs of organizations that rent
  • Strengthen relationships with manufacturer partners by purchasing additional inventory to meet growing rental demand

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