Why Is Modu-Loc More Expensive?May 13, 2019
Having been around for more than 20 years, we’ve seen our fair share of competitors come and go. We’re aware of the rental rates other temporary fence suppliers may charge. We also know we’re not always the cheapest option. In fact, this is hard to forget when we’ve had some potential clients flat-out ask, “Why is Modu-Loc more expensive?” This might seem like a tough question to answer, but we don’t shy away from it. That’s because when it comes to rental fence, we know exactly the value we can offer – and that is reflected in our pricing.
Value vs. Cost
Before we explain the reasons why we might charge more than other suppliers, let’s talk about the difference between cost and value. Because rest assured, there is a difference!
For a customer to derive value from a product or service, they must be able to define their expectation of value. Good value may mean something different from one person to the next. Once a customer has determined those expectations, they may find that for a vendor to truly provide the kind of value they require, they may not necessarily be able to achieve the lowest price.
Consider the following example. You’re in the market for a new pair of shoes. You could spend $20 on a cheap pair of shoes that may be able to endure 100 kilometres of walking. Alternatively, you could invest $200 in a pair of shoes that will last you several years and perform reliably for upwards of 5,000 kilometres of walking. Whether you see a better value in the $20 pair of shoes or the $200 pair of shoes likely depends on how much walking you do or how often you expect to wear them.
Since value and cost definitely intersect, the best-case scenario is for a customer and their vendor to be aligned on the expectation of value and the associated cost. If a customer and their vendor are not on the same page, the likeliest outcome is disappointment for the customer.
You Get What You Pay For
Whether it’s “you get what you pay for” or some variation, this is a saying you’ve likely heard in your lifetime. In many cases, this is an accurate statement. Depending on your requirements and expectations, the lowest-cost option might not represent the best value.
When gathering quotes, don’t simply jump on the lowest-cost provider without considering the potential outcome. Make sure you do your research. Request testimonials or examples of completed work if you need to. This is a great way to verify that the vendor is able to deliver “good value” based on your specific needs.
Don’t discount the possibility that a lower-cost supplier – particularly a less-experienced one – may be overestimating their abilities or underestimating costs. If this is the case, whatever savings you’d hoped to secure may be negated by unpleasant surprises or hidden costs down the road.
So, Why is Modu-Loc More Expensive?
With all that out of the way, we’re ready to address why Modu-Loc is sometimes more expensive than other suppliers. There are several reasons – all of which are closely related to the value we’re able to deliver.
- The quality of our rental product
Modu-Loc’s rental fence panels are heavy-duty and built to last around 20 years. We invest in a quality product to extend its life cycle and ensure it holds up to wear and tear on customer sites. The design of the fence panels ensures optimal security and stability. We also offer a number of attractive and well-maintained options for crowd control purposes.
- The volume of our inventory
We also invest heavily in our inventory year after year, replacing fence that is no longer up to our standards and bringing in additional stock to meet the needs of our growing customer base. This means that when our customers need fence, we can answer the call – even during peak busy season.
- Full-service installs
Labour can contribute to our price, but it is a cost that many customers are more than willing to accept. Although installing fence isn’t rocket science, it is labour-intensive and can be time-consuming. It can also require a certain level of expertise, especially where planning for crowd control is concerned. Of course, lower-cost suppliers may also handle install. However, we pride ourselves on maintaining a consistently high level of service and adhering to best practices – ensuring that your temporary fence is installed as safely and securely as possible.
- Investments in our people
Of course, great customer service requires some investment in employee training. We are proud to have the best-trained installers in the industry. If you’re looking for installers with the experience and know-how to handle unique requirements on site, then you may want to steer clear of lower-cost suppliers. We offer competitive wages and benefits to our employees, as well as several great perks. Employee recognition programs, bonuses, and social activities help us attract and retain the best talent. What does that have to do with delivering good value to our clients? We believe that happy employees provide better service, leading to happy customers.
- Proper tools and equipment
We make sure our field and office employees have the tools they need to do their jobs properly. By investing in safety equipment and properly outfitted fence trucks, we are protecting our employees, clients, and the general public from potential risks. This extends to our back-end systems, which help us address our customers’ needs quickly and effectively. Some of our clients tried a lower-cost supplier, only to be disappointed by their billing practices. In those cases, incorrect invoices, hidden costs, and poor customer service abound after the sale is closed. At Modu-Loc, we strive to maintain clear and accurate billing and high levels of post-sales support – and we do that by investing in the right tools and systems.
- Research and development
At Modu-Loc, we’re not content with the status quo. One of our core values is Vision & Innovation, and we believe it is key to helping us identify and proactively address customer needs. From our award-winning engineered fence on jersey barrier product to our concrete block ballast system, we are changing the way things are done within the temporary fence industry. We believe that investing in these advancements leads to safer, more secure construction sites and special events.
Finding the Best Value
When making big-ticket purchasing decisions in our personal lives, it’s rare that we automatically opt for the cheapest option. Was the last car you purchased the cheapest car available? Did you book the cheapest possible vacation? Did you purchase the cheapest house on the market? Most likely, you started by defining your requirements to narrow down the options, and then considered price for those options.
Similarly, when selecting a supplier, start by determining your requirements (or expectation of value). You can then obtain quotes to establish associated cost, and find the supplier that will provide the best value for the price. Of course, low-cost suppliers have their place in the industry. Like the $20 pair of shoes, sometimes they offer exactly the value that you need. However, you might just discover that the best value lies in a “more expensive” supplier.
We’re here to answer any questions you may have.