Lowe’s ready to debut tool rental program

Lowe’s is rolling out a new tool rental program nationwide.

The latest Lowe’s showcase will provide a one-stop shop for tools and equipment that pros and DIY customers need to complete projects. 

The first Lowe’s Tool Rental space will debut on Aug. 20 in Charlotte, N.C. HBSDealer will have more details about the program right after the unveiling.

"For all of our customers, having the right tool is key to every project, but they may not always want to purchase a new tool or piece of equipment,” said Fred Stokes, SVP of Pro Sales and Services at Lowe’s.

According to Stokes, the new program will help customers save on the cost of owning, maintaining, and storing the tools they need. 

“As the new home for pros, offering tool rental is just another way we are committed to keeping them working,” Stokes noted. “ Whether a Pro's tool fails on the job, needs a repair or they're looking to try something new, tool rental will allow them to get back to the job site faster, saving them time and money."

The Lowe's Tool Rental departments will be newly constructed spaces that either expand a Lowe's store or are located on a Lowe's property next to an existing store. ‘

The Mooresville, N.C.-based retailer did not say how quickly it expects to expand to the program to its lineup of more than 2,200 locations.

Here are a few features of the new tool rental department:

• A brand-new fleet of commercial-grade equipment, including brands like Husqvarna, Bosch, and Metabo HPT.
• A broad assortment of drain cleaning, restoration, sanitation and concrete tools, in addition to merchandise to accompany rental tools, such as protective equipment and cleaning solutions, for purchase.
• Technology that enables an easy and convenient check-in and check-out process with an online reservation option, in-store self-service kiosks and digital documents that can be signed and viewed from a mobile device.
• A dedicated team of knowledgeable associates who can provide hands-on product demonstrations.
• Approximately 4,000 square feet of space with a fully equipped mechanic shop to service tools, space for on-site cleaning, and product demo areas.

Today’s announcement arrives on the heels of Lowe’s second quarter earnings report, with sales rising 30% to $27.3 billion for the quarter.