Party organizers and event planners are always in need of tents to rent for outdoor parties and corporate events. Tent renting business is one simple business you can start and make passive income from all year round, because parties and corporate events are held almost all year round. So, if you are looking for a good business to start as an entrepreneur, then you can consider starting your own tent rental business and make good returns from the business.
The truth is that tent rental business is easy to start. A tent rental business is one business that doesn’t need a special qualification to start; the basic things you need are; capital, basic accounting or bookkeeping skill, advertisement plans and determination to successful run this type of business. There is little or no maintenance required for tent rental business apart from the basic logistics which includes transportation of the tents to your customer’s location.
Most tents can last up to 20 years without need for repairs or maintenance if handled carefully. Since all the business execution will most likely take place in your client’s location, a tent rental business can be run as a part time home business as long as you have enough space to keep the tents; it saves you the money you would have spent monthly or weekly on renting an office space.
Now let us quickly consider the steps to follow to successfully start your own tent Rental Business:
Starting a Tent Service – Sample Rental Business Plan Template
1. Develop a Business Plan
The first step towards running this business is to draw up a business plan; a business plan covers all aspect of how you want your business to operate. It includes your estimate start-up capital, how many tents you will purchase for the start and the sizes you wish to buy? How do you wish to advertise your services and reach out to people that need to rent tents for their events? And how much will be the estimate amount you will bill your Customers for each rental they make?
2. Capital
The bulk of your capital will be spent on buying tents and a means of transportation to get the tents to your Customer’s location. Depending on the scale you are starting, you need an estimate of up to $50,000 or more to put together an average rental business, but be rest assured that you can make the money back within 6 months if you have a strong advertisement plan. A good way to raise the capital is to get an angel investor that will provide the required fund, while you pay him an agreed percent of the profit you make.
3. Purchase Your Tents
I mentioned earlier that a huge chunk of your capital will be spent on buying tents. The average cost of a brand new tent is about $10,000 or more for bigger sized tents that will accommodate more people. The best place to purchase the tents is from the manufacturers and you can also be offered discount.
Always put the size of the tent and the material it is made up of into consideration when making a choice of tents to buy. Some customers request for specific colour of tent when making their order; hence you have to research the likely colours customers in your location will likely ask for and purchase accordingly.
4. Means of Transportation-: You need to get a truck that would serve as a means of transporting the tents to the Customer’s location; a fairly used truck in a good condition can serve this purpose.
5. Means Of Payments
One factor you have to consider before you open up doors for business is a payment system. How do you intend receiving money from your clients after they place an order?If you have an online website where people can place their order, you can make use of some E-payment systems like PayPal and Skrill to receive money from Customers. You can also receive money transfers into your business accounts, or checks.
6. Printer Fliers
If you have put everything in place, then the next thing to do is to advertise your business. Your advertising strategy would determine the level of success you can achieve in your business. A good way to go about it is to print fliers and pamphlets that will contain pictures and details of all the tents available for rent, your contact information and the cost of rental for each tent. Your main clients would be event planners and Party organizers, you have to find a way to reach out to them with your fliers and discuss why they should make use of your tent rental service.
7. Online Presence-: Another way to create massive awareness for your tent rental business is to create a website where people looking for tent to rent in your area will be redirected to. You can also make use of Facebook ads to get targeted customers for your business.
8. Additional Services
As time goes on, you can incorporate additional services to your tent rental business to make some extra money. Event planners and Party organizers do not only need tents to organize their events, they also need tables and chairs. You can invest some of the profits you make from tent rental to purchase large quantity of tables and chairs for rental purposes, because an Event planner will prefer to use the services of a tent rental service that can also handle tables and chairs rentals to make his work easier.
Do note that if you incorporate table and chair renting, you may have to make provision to purchase a bigger truck for transportation of the chairs and tables to the event locations.
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