First, congratulations on starting your own party rental company! You’ve come to the right place. Yes, we sell everything from resin folding chairs to farm tables and everything in between to get you started but we also have a wealth of industry knowledge.
For example, our owner formerly owned a successful party rental company in California. That's the type of experience you can't just read in an instruction manual.
Running a party rental business sounds fun and that’s because you are (literally) the life of the party. This is why we have seen a trend towards people taking the plunge into the event and party rental businesses.
However you scale your business, the event industry offers endless opportunities. You can provide for large, upscale weddings, conferences or stick to backyard parties and local community events (or all of the above!).
The event industry is, however, growing at a rapid rate which means there are more party rental businesses to compete with.
To stay competitive, you need a few expert tips that can help you get your return on investment and help you stand out from the competition. Here are some ways you can make your party rental business a success.
Research Your Market, Know Your Customer
We do not recommend just ordering folding tables and chairs for your business without doing proper research on your potential customer’s needs. Relax, step back and identify your local market.
Get in contact with your potential customers ( this could be friends, neighbors and relatives to start), and figure out their event needs and preferences.
Familiarize yourself with the local event venues, planners, photographers, etc who can refer customers to you on a regular basis. Building relationships means building your referral funnel.
Figure Out Your ROI
So, you’ve figured out what chairs, tables, event accessories you need to get your party rental company running but how do you price your new inventory so you can the most from your investment?
Lucky for you in our 2 part video series, we got to sit down with a party rental industry veteran, Tom from Got You Covered Tents and Events in San Luis Obispo, CA. Tom has been in the party rental business his whole life, and in this series he shares his insights on how to price various rental items.
And of course, if there are products you still need to invest in(I think we forgot Pipe and Drape), we’re here for you!
Make Sure Your Online Presence is Top Notch
In 2020 almost everyone has internet access and a social media profile. The same should go for your party rental business. It is imperative to maintain an online presence and increase your brand awareness.
Long gone are the days where customers just walked into your rental showroom. Start with making sure your website is easy to navigate and that your inventory choices are clearly displayed.
A solid website also provides information such as your business hours, contact information and pricing.
On the social media end, make sure you create Facebook and Instagram accounts for your party rental business.
Update them daily and/or weekly with photos so that potential customers can see the events your business has been a part of.
Ahem, also make sure that photos you share are high quality...we’ve talked about why this is important here.
Larah is the creative and marketing specialist here at EventStable. She lives in the old axe factory town of Collinsville, Connecticut with her husband and dog Baya. In her free time you can find her helping her husband restore their 1860's cottage.