You’ll need to plan your marketing efforts and advertising strategies to get your business off the ground and running. Party rental businesses can take several approaches here, but below, you’ll get some ideas of the most cost-effective tactics to acquire new customers.
When most people set out to search “party equipment rental service near me,” they’ll be trying to find wedding rentals. People love weddings, and most couples are willing to spend a bit extra to make it that much more special. Party equipment rentals have a variety of potential target markets and can grow to almost any scale. The only way to find a real answer for rental business profitability is to take a closer look at individual niches. Party rental businesses are one of the best potential business ideas for anyone looking to get started with minimal capital investment.
Almost every single party bus company prices their rentals on an hourly basis. That means that you reserve the bus for a set number of hours, and during that period, the bus is yours. Most rentals are 3 to 6 hours for nights out, 4 to 7 hours for bachelor/bachelorette parties or 4 to 8 hours for weddings. While minimum rentals are typically 3 to 5 hours, longer rentals of 8 hours or more may qualify for bulk discounts.
Find unique private party rooms on Peerspace
Read more about Wedding Rentals Las Vegas here.
For outdoor picnic setups, the sprinkler system must be turned off the day before of the event in order to avoid a wet lawn. The space designated for the setup needs to be free of furniture and clean at the time when we arrive. We will not be responsible for moving furniture, trampolines or clearing out the area.
Airbnb’s Age Restrictions [Under 18, 25, FAQ]
That is totally an option when you list your home on Peerspace, and it still helps you earn money. For instance, this home lists for $95 and has a four-hour rental minimum. The next step is that the Peerspace team will review your listing submission. If your listing meets the site’s requirements for live listings, the team will approve it, and your space will be searchable on the site. This means that potential renters will have access to the listing and will be able to easily reach out to you in order to rent it or ask you questions. You’re also underutilizing the market when you rent your home out on a homestay website. When you list your space on a platform like Peerspace, however, you can list your home for parties, productions, meetings, and more!
Our rental inventory is capable of handling intimate affairs or large events. We accommodate party and wedding planners, caterers, and residential clients.
Plus, its ornate design details and helpful staff can make any event you’re planning perfect. Once the equipment has been rented enough times to pay off any initial cost, your rental business becomes pure profit. If you decid to invest in the high-end equipment, but your competitors are renting the low-end equipment, your rental costs will not be the same.
The party rental industry is a booming business and is projected to generate $6.3 billion by the end of 2023 and grow at an annual rate of 8.3% from 2021 to 2026. There are an estimated 10,341 businesses in this industry employing over 56,000 people. If you’ve already got some wins, you might be wondering where to go from there. Here are a few ideas on how to give your party rental business the boost it needs to grow to the next level. Since this is a business venture, you should only buy equipment that will increase your party rental business’s profitability.