Starting a Party Rental or Event Services Business

Starting a party rental business in reality is kinda broad. In the industry, there are many niche specialties or you can be as broad as you like. What we mean by this is that for example there are rental companies that only deal in renting "linens" or "chairs" but not both. Then again there are companies that offer both plus offer a broad general range of items.

How to decide which route to take "niche market" or "broad range, general items"

To make a decision like this there are a few things to consider:

• In your area for "general" product rental is your competition high?
• Do you already have a specialty niche market in mind that interests you?
• Based on your decision will you have the required storage space needed to start and be willing to grow and acquire more space?
• Based on your decision will you have the proper vehicle to transport your products or will you have to rent one?

Above are just a few things to consider, but by no means get discouraged as you can always start small and grow as we all did.

Another part that we did not discuss and will now get into is providing "Event Services". Examples of services would be:

• DJ services for events
• Photography Services
• Videography Services
• Catering Services
• Event Planning
• Waiter / Waitress Services
• Clowns
• FacePainting & Balloon Twisting
• Decor Services and More!

As you can see there are also services that you can provide. Now you may think well I can do this. If so that is great.

If for some reason you feel that you do not have the skill set to offer the above services that is fine. Find your niche in the industry. Also, there are company owners out there that do not have the skill set but hire the right people who do. Sometimes but not always providing "services" involve a lot less stock than a company that does general rentals.

If you decide to hire people with the right skills as sub-contractors they sometimes even have their own equipment. Please bare in mind if going this route one should make it their priority to fully understand that niche so you understand the terminology, fee structure, and so on...

Next, you might want to consider the coverage area you are willing to set. Selecting too small of an area can limit your client potential depending on where you are located or selecting too large of an area can also spread you too thin and cause you to be overworked. Depending on the niche you decide look at your competitors to get a general idea of their coverage and choose from there. Start off being conservative and you can always expand from there.

Based on some of the items we discussed so far if you have any questions or suggestions please feel free to comment below.

#business #education #startup