Page 78 - Peterson 85 Years and Going Strong
P. 78

  Current Cresco facility in Livermore, California in 2020
THE MANY FACES OF CRESCO
Cresco Equipment Rentals (est. 1997)
Tools & equipment for contractors for commercial & residential projects
Cresco Production Express (est. 2000) Entertainment industry equipment rentals
Cresco Xpress (est. 2002)
Homeowner retail tools & equipment rentals
Cresco Facility Services (est. 2003) Equipment for facilities maintenance & repair
Cresco Heavy Rents (est. 2010)
Large Cat equipment rentals (formerly Peterson Heavy Rents)
dozen skid steers fit in the shadow of a 657 scrap- er, but you’d have to sell at least thirty to equal the price of the one giant earthmover. “This was revolutionary to our traditional business model in terms of how to make a profit,” says Goggin. Today, CCE and BCP make up 80 percent of the industry.1 That’s one of the biggest challenges of the past couple of decades because Peterson’s busi- ness model was built for big equipment. Caterpil- lar’s solution came packaged in a new marketing approach, the Cat Rental Store. The retail outlet model added small, allied equipment like pressure washers, portable compressors, scissor lifts, and pavement breakers to its traditional Caterpillar product mix, bringing a new level of availability to its customers. The caveat? Cat wanted full buy-in from all of its dealers.
GOING RETAIL WITH CRESCO
By the time Caterpillar issued its directive in 2000, Peterson’s rental business was already flourishing. “One of the first things Duane Sr. did as the new dealer principal was to buy Cresco,” says Goggin. “It was a brilliant move.” At the time, Cresco was a small rental company with excellent brand recog- nition2, focused on home improvement, landscap- ers, and small contractors. In 1997, they had two stores—one in Martinez and one in Richmond.
Grand Opening of the first SF Cresco, in 1997. Tom Sparacino 2nd from left; Chris Smith at far right.
   1 Building Construction Products (BCP) are backhoes and small equipment of 100 hp or less, including pavers
2 CRESCO stands for Cushing Rental Equipment Services Company. Chet Cushing founded the company in 1984 in Martinez, California
76 | PETERSON: 85 YEARS AND GOING STRONG
 

















































































   76   77   78   79   80