Are you thinking of starting a party rental business but
don’t know how to go about it? Not to worry, in this article I will be sharing
with you the necessary steps needed to start this business.
Celebration is one of the things that bring people together whether it’s a birthday party, wedding ceremony, anniversary, Thanksgiving etc. and all these cannot be done without using some party rental equipment.
Starting a party rental business can be very profitable since Nigeria is a place where irrespective of the economic situation one gathering or the other takes place on a weekly basis making it a market that you can tap into right now.
Most times when people are organizing a party or event whether
outdoor or indoor there are some certain equipment’s that they would need and
since parties are held in families or organizations periodically the need to purchase
those items may not be necessary so they turn to a party rental business to
The job of a party rental business is to rent chairs, tables, canopies, cooking gears etc. to event planners so as to ensure that invited guest are comfortable and the party is successful.
When it comes to starting a party rental business you are at
an advantage as all you have to do is purchase the necessary equipment’s that
you would need in this business and you can keep renting them to people over
and over again.
Starting this business would require huge capital as you
will have to buy the items you need in bulk most especially chairs and
tables. The good thing about this
business is that the more customers you get the faster it will be for you to
recover your start-up capital and start making money.
Who Can Start A Party Rental Business
This business can be started by anyone as long as you have the capital to invest in it. Unlike other businesses that require your full attention, you can start a party rental business as a side hustle even if you have a full-time job as most of the events take place during weekends.
Why You Should Start A Party Rental Business
A party rental business is one of the most profitable businesses in Nigeria and provides the right opportunity for you to grow and meet new people. Since only one source of income cannot meet your financial needs you can use it to support yourself and family. This business offers you the opportunity to fire your boss if you have a full-time job and become the boss of yourself. You can start this business from the comfort of your home as long as you have space in your compound to store your item.
Who Needs Your Service
The truth is everyone needs the service of a party rental business. Starting from families, next door neighbors, friends, schools, organization and so on. This gives you a wide customer base and poses a great opportunity to make lots of money.
Different Party Rental Business Ideas
You would be spending a fortune and find it difficult if you think of going into renting all the party equipment’s out there which is why it is advisable to start small and grow from there. For someone just starting out here are the different party rental business ideas you can choose from.
Chairs, Tables and Canopy Rental Business
This is the usual rental business most people know exist and it is also profitable. There is absolutely no occasion where guests are required to stand so the use of chairs and tables is inevitable. Canopies are also very important most especially when it is an outdoor event to protect guests from rainfall or sunshine. If you choose to go into this branch of rental business you will have to get enough chairs and tables with different shapes and colors.
Bouncing Castle Rental Business
Since you will always find children in any occasion most especially when it is another child’s birthday party bouncing castle is always need. This helps in adding more fun to the party. Most organization rent this bouncing castle when they are having a party so their employee’s kids can have fun when they come.
Electronics Rental Business
For the fact that they are also useful for the success of any party, this is why it is a good rental business idea. This electronics may include cameras, microphones, speakers, musical instrument, lighting, projectors etc. you can also venture into this aspect of the business and still make lots of money. The only difference between this particular business and the rest is that you have to keep maintaining and servicing your equipment’s regularly.
Mobile Toilet Rental Business
This is useful most especially for outdoor parties. Since guests might feel the urge to use the toilet during the cause of an event people often rent mobile toilets and you can also make a good amount of money in this area of rental business.
Catering Equipment’s Rental Business
Since no event can end without item 7 hiring catering equipment’s is a most. Going into this branch of the business, you can rent out pots, plates, spoons and other catering equipment’s you know and make a good amount of money from it.
Without wasting much time, here are the steps needed to
start a party rental business
Take A Survey
This will involve you getting to know more about the
activities that happen in your location. when taking a survey this will allow
you to checkmate certain things which includes the events and parties that
happen in your location, your competitors (other rental businesses) and how
often are parties held in your location.
Decide On the Aspect To Start
Since you are just starting out, you may not have the
resources to go into all the rental businesses which is why picking a
particular renting business idea and following it is important. You can choose
from the ideas listed above. The survey you have taken will also play a huge
role in deciding which aspect to start. Since you have been able to identify
your competitors and know what items they rent this will help in your decision
Write A Business Plan
A business plan serves as the road map of any business. A business plan is necessary for any business as it helps you identify what your business stands for, the problems it will solve, how you intend to generate profit from the business, how you are going to market your business, how many staffs you would need to employ etc. This will allow you to have a clear goal of your business and help you minimize spending unnecessarily.
Register Your Business
Every serious-minded entrepreneur knows the importance of registering a business. This gives you a legal ground to operate your business in every country so you don’t get punished by the government when you get caught. Registering your business will also give you an advantage over others as your customers can take you seriously and also recommend you for other jobs.
Get A Location
This is very important as it will be where your potential
customers can meet you for rental services. Unlike other businesses that
require you getting an office space or warehouse, you can start this business
from the comfort of your home. As long as there is a space in your home where
you can store your equipment you can start this business.
Buy The Required Equipment’s
The equipment’s you buy should be related to the rental
business idea you have selected. The best quality is what you should go for
when buying any equipment so they can last long and deliver the best service to
your customers. If you decide to go into the catering business idea, you should
get all the different sizes of spoons, pots and other catering equipment in
Getting people to assist you in carrying you in loading and offloading of your equipment from your business location to the customer’s location and back is necessary. You can hire at least 2 or 3 people most especially boys to help you out.
Means Of Transporting You Equipment’s
This is also important in the success of this business as it will help you move your equipment’s from one place to another. No matter the distance you would always need a car to move your equipment’s. Since you are just starting out and may not have enough money to purchase a truck you can hire one when a job comes up.
Connect!!! Connect!!! Connect!!!
Since everything has been put in place, you will have to go out and get in touch with people. There are different ways to do this and they include word of mouth, creating handbills and banners, and advertising using radio, TV, Newspaper and social media.
With these steps you are sure of succeeding in this
Do let us know what you think of this article in the comment section thanks.