EVENT MANAGEMENT: RENTAL BUSINESS IS A CONSIDERABLE BUSINESS PATH
Africa is known for her rich culture. This informs the reason why we are obsessed with celebrating virtually everything ranging from weddings to birthdays, naming ceremonies, anniversaries and celebration of life. People will stop at nothing to see that events are organized and with the consideration that the event be up to their taste.
The rental business is one most profitable business we have here in Nigeria. 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 be seen as hiring, an agreement where payments are made for temporary use.
As a matter of fact, it is almost impossible to experience loss in this business; because once you’re known, and your equipment is good enough, it can only get better from there as the same sets of equipment will generate income for the business.
Before venturing into this business, you need to figure out what niche you are passionate about. Would it be chairs and event centre’s item rental, or chairs and canopies, or bridal accessories rental? Finding out what area works for you will enable you to chart your business path.
Know the type of equipment and brand that are in use and go for them. Nobody would want to hire outdated equipment for his or her function.
This line of business needs a 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. You will also need to build a passionate and hardworking team.
After you have purchased the equipment and gotten the means of transportation that you need to start the business, the next thing to do is to get clients.
And one easy way to this is to talk to people about it. You can also print some complimentary cards and leave it with them after talking to them to serve as a reminder. If you do want to scale faster then your best approach would be partnering with event planners or event management companies.