Starting your business can be a dream come true, but at the same time it can be a daunting task. Where do you start? How do you start? How do you lay a solid foundation for long-term success? It’s important that you conduct solid research before you open for business, and many resources are available.
But why? When it comes starting your tent rental business, isn’t it simple? There are plenty of advantages to owning a tent rental business. All you should need are some tents and a little bit of advertising to start off. You’ll make some sales and grow from there, right?
Before you jump right in, there are certain steps you need to take and factors that must be considered. These include specific equipment needs, determining pricing, and insurance needs, just to name a few. But there are many other factors to consider before opening your tent rental business.
One of the most important steps you must take is determining your niche. Marketing to every audience isn’t effective, and you must tailor your business strategy to certain markets to lay that foundation for future success.
One specific market you may want to focus on is the high-budget market. These are the higher-end clientele whose budgets are larger and whose events are often are larger in scale.
Why Large Scale Events?
It may just be easier to attract many smaller clients, but this isn’t where you’ll make the most profit. Margins are typically better on larger events due to a few factors:
Marketing and transportation costs are similar between large and small events. You could be setting up for a small event that brings in less income for the same cost you would pay for setting up a large event that attracts more money.
Tent rental businesses require employees to set-up and dismantle tents, yet they can only do one event at a time. When you acquire many smaller events, you require more employees to handle the workload. Renting tents on bigger jobs can achieve the same revenue but will require fewer events and, therefore, smaller labor costs.
Let’s not forget—large events are more fun!
Here are a few tips for starting a tent rental business for big events:
- Make sure your tents are the highest quality available. Quality tents mean quality clients and better referrals. The better service you offer, the more successful your business will be.
- Select tents with the following features:
- Blackout fabric that allows for controlled lighting, blocks out daylight, and helps control temperature.
- Mildew resistance that keep your tents looking clean and extends their use life. Showing up to high-paying events with tents growing mildew won’t help your reputation and also threatens to shorten the life of your tent.
- Water resistance to help prevent leaks. Don’t risk ruining events with low quality tents that threaten to leak on guests.
- Fabric that’s engineered to be easy to clean is a bonus for you as well. After a big event, the last thing you’ll want to do is expend more energy scrubbing down a large tent. But the tent must be cleaned after each event. Choose a fabric that requires minimal cleaner and little effort.
- Each tent requires a big investment, so ensuring the long life of your tent is key.
- Use these tent maintenance tips to ensure your tents last as long as possible.
- Form long-term relationships with suppliers
- Network with party planners. Networking allows you to get your foot in the door with others who are already established in the industry. The relationships you build with these businesses will help you achieve growth.
- Exhibit at wedding shows. It’s hard to get noticed if you’re not advertising your services. Wedding shows are a great opportunity to advertise, network, and share valuable information.
- Offer discounted or pro-bono services for nonprofits and/or fundraisers. Providing an affordable service to those who have limited budgets to work with will not only provide you with experience but also allow you to provide great experiences to those who will give you great referrals.
Owning your own business and making it into a success can be a dream come true, but it takes planning and hard work. Don’t skip the important steps, use the resources you’ve gathered from all your research to make wise decisions, and you’ll set yourself up for success.