How to Start a Party Rental Business
A party rental business supplies everything you need for a successful celebration except the guests. The type of parties you want to equip and the customers you want to attract should be your first consideration. Select the supplies you'll offer and the other services you'll provide based on that consideration. These tips on how to start a party rental business cover a broad range of party options. Some, like marketing, are essential to any business. Others can be modified to fit your plans.
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Instructions
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Purchase enough equipment to be able to comfortably plan for several parties at once. Create an inventory for each type of party and the equipment you need for it. Paper tablecloths, napkins and plastic utensils are appropriate for some gatherings. Others require cloth tablecloths, flatware and real glassware.
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Provide catering services or maintain a list of preferred caterers to recommend. Catering options would include everything from birthday cake and soft drinks to pizza and beer for a bachelor party, so make sure you have kitchen facilities capable of handling every request.
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Have a variety of entertainment options. Clowns and magicians are in demand at children's parties while a string quartet would be more appropriate for an elegant dinner party. Ponies used to be the entertainment of choice at children's parties, but today kids expect a moon bounce.
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Consider offering a banquet room on your premises for individuals and businesses who don't want to host their parties on their premises.
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Negotiate with vendors for the best prices on food, supplies and equipment. Learn where the farmer's markets are, talk to wholesalers about bulk discounts and be aware of sales or special offers on items you use frequently.
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Take all of your costs into account when figuring out the rates you'll charge. Overhead includes rent, utilities, labor costs, supplies, vehicles, fuel and insurance.
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Purchase at least one large van. Buy a truck if you are providing tables and chairs or inflatables. Approach commercial laundries if you anticipate having to wash high volumes of tablecloths and napkins.
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Hire waitstaff, laborers to set up and take down tables and tents, kitchen help and office staff like a bookkeeper and someone to keep track of orders and inventory. Work out details like how tips will be distributed.
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Market your party rental business. Create a website. Run an ad in your local paper every week. Generate business by offering discounts to repeat customers. Word of mouth is important in party rentals, so create incentives for customers to spread the word like special offers.
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Resources
- Photo Credit Let's Have a Party, Party Supplies Directory
