A lot of Nigerians do not how lucrative party rental service is, such as chairs, Tables, canopies, table covers, chair covers, chaffing dish, plates, glasses,
e.t.c. It is in very rare cases that an average Nigerian do not have one events or the other to celebrate. From Naming ceremony, Weddings, House warming, Burials, Birthdays, Burial Rites, religious activities, Remembrance the list is endless. If you own a business like this in your area and you can own almost every equipment needed for rentals be very sure people will come in to patronize you from time to time. Imagine what your turnover will look like. Not only you are guaranteed of 5 dozens of chairs, Tables and canopies per person, you stand a chance of seizing the balance once any of the item is damaged or broken. Is that not interesting?
It is a business whereby you have party rentals service lease for a period of time or at a particular point in time. It can also been seen as hiring, an agreement where payments is made for temporary use. Renting business is one most profitable business we have here in Nigeria.
How To Start A Party Rental Service Business
Purchase Equipment
That will enable you to comfortably play for as many parties as possible at once if requested for. Engage into negotiation with vendors for best prices on supplies and ensure you buy quality products so that all your profits will not be not spent on replacing damaged or worn out equipment.
Collect Deposits from Customers
In case any equipment is broken or damaged money deposits will not be refunded.
Advertise your Party Rental Business
This can be done by through mass media, social network, business card, flyers granting discount, website or by informing friends and people around you.
Maintenance
It is important to maintain equipment that requires maintenance and store in a safe and dry place for further use.
How to Make Make Money from a Party Rental Business
Business Plan
This outlines your goals, your finances, and your guarantees, so that you have mapped out any bumps in the road ahead of time.
Good Customer Service
The rental business is a way to make money if you continue to grow your business and continue to provide excellent customer service.
Transportation
This line of business needs vehicle to move items from direction to the other. This makes it easier to deliver items at parties at a given time. It is is a matter of acquiring customers so that your business begins to speak for itself.
Create and Motivate a Great Team
As a business owner of this type of business u should be able to maintain good orderliness among your staffs in other to help you foster your business whether you around or not.
With the help of the above stated i can assure you that your Party Rental Service business will continue to grow in profitability and popularity.
Thanks for the analyses. I'm really looking to starting a rental business, but is it possible to have a price range of the cost of purchasing the materials, canopies, chairs, tables etc and the rental fees. Thank you