Party equipment rental businesses can be quite profitable when you begin with a solid foundation. With a few key factors in place and some savvy business practices in mind, your newly established company can be on the road to successfully renting out party tables and other equipment, if desired. There are a few things to plan for when setting up the business.
Develop a contract for clients to sign when they rent the tables (see link in Resources for an example). Not only will this establish a professional appearance, but it is also vital to protecting you and your equipment should anything go missing or become damaged as well as receiving the payment due to you.
Contact your local courthouse to find out whether a party table rental business in your city requires a license. At this time, you should also register your business name to avoid future conflict.
If needed, apply for a business loan through a reliable establishment. Your startup costs will depend on the budget you have predetermined for purchasing the party tables for inventory, renting a unit to store the equipment when not in use, transporting the tables to and from locations, setting up a website, and any other items you have chosen to include.
Begin by developing a solid business plan. There are some websites that can help you through this process if you don't have any previous experience. You'll need to decide on specifics such as the business name, your expenses to start and maintain the business, exactly what your market will be, whether or not you will have a website, and more. Don't forget to check on whether or not another business has already registered the name you have chosen.
Begin marketing your new business locally, online, and especially through word-of-mouth advertising. Sometimes the best place to begin is to offer a special discounted rate to friends who are throwing a party and in need of extra tables for the event in return for their passing your information along to others they know. Local flyers, ads in citywide parenting publications, and a professionally-designed website will also help to increase business for your new party table renting company.
Once funding is in place, begin acquiring the party table inventory. Although you can find significant deals at local wholesalers or online stores, don't rule out pre-owned tables that are in excellent condition or stores that are trying to dispose of inventory quickly, which can sometimes offer the best deals.
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