If you will be establishing your own inventory (party and special-event rental service), there will be a substantial upfront investment. Among the items you’ll need are chairs, chair covers, tables, umbrellas, a dance floor, and a portable bar. You’ll also need linens. For meals, you’ll need to provide utensils and china service. You may be able to partner with a caterer who will bring serving trays and equipment for the food preparation. If you will be operating as a broker, you will need to create a catalog of available items. Other expenses include advertising and promotion.
Rental companies generally charge a flat rate for each piece of furniture or equipment, taking into account the cost of equipment and depreciation. You can offer packages of blocks of tables, chairs, and other furniture at a discounted rate. Add a fee for delivery and pickup. If you will be functioning as a broker, seek a discount from the owner of the furniture or equipment and mark the prices up to the retail rate. However, if you will be working as a broker, you can let others make the investment and earn your profit as a percentage of the rental charges plus any other fees you might assess the client directly.
Then, you can post flyers and ads at community centers, on church bulletin boards, and in stores to inform the people about this service. Place ads in local newspapers and shopping guides, including special wedding and holiday sections. Make your services known to party planners and caterers; offer to share commissions or a finder’s fee for business they direct to you. Ask satisfied customers to recommend you to friends and acquaintances; offer a bonus or discount for new business. Also send letters to corporate event planners.