Starting a Business Articles
How to Start a Table & Chair Rental Business
Launching a table and chair rental business is an excellent entrepreneurial opportunity as long as you separate yourself from the competition. We provide nuts-and-bolts information that demystifies what it takes to be successful.
Wondering how to start a table and chair rental business? We take you step-by-step from start to success.
The Event Rental Industry
The special events industry has mushroomed over the past decade, creating a market for emerging entrepreneurs eager to capture their slice of a multi-billion dollar event services marketplace.
Table and chair rental outfits are vital links in the industry's supply chain. The leading table and chair rental businesses serve a broad range of clients and event categories including weddings, concerts, corporate events, trade shows and other gatherings.
In many instances, event planners and coordinators develop long-term relationships with table and chair providers, making it necessary for startups to diversify their business to accommodate multiple event categories.
Startup Capitalization for Table & Chair Rental Businesses
Undercapitalization can doom a table and chair rental business before it even gets off the ground. Although it can be difficult to raise enough startup capital to fully fund your business, you'll need to budget for an ample inventory of commercial quality tables and chairs as well as other rental items (e.g. tents, stages, etc.).
Rather than starting out with an insufficient amount of capital assets, it's better to delay your launch until you have either saved or raised additional funds. Like it or not, the table and chair rental business severely penalizes undercapitalization because it limits your ability to service multiple events.
How to Grow a Table & Chair Rental Operation
Once your startup has stabilized, it's time to consider growth and expansion strategies. Although there are many different ways to grow a simple table and chair rental company, the easiest involve either expanding your geographic footprint and/or your product offerings. Many growing rental businesses transition to full service event rental companies; others specialize in table and chairs, but upsize their territory to include a regional or even national client base.
Industry resources like Special Events can be a great starting point for entrepreneurs who are looking for ways to expand or retool a table and chair rental startup.
Best Practices for Table & Chair Rental Company Business Plans
If you haven't written one before, a table and chair rental company business plan can be a frustrating business requirement. A robust business plan is essential nonetheless because it serves a number of purposes, not the least of which is the ability to influence lenders, investors and strategic partners.
After you have written you plan, you'll also need to develop a strategy for your next steps.
Business plan distribution is just as important as business plan creation. Generally, effective distribution models include the incorporation of tracking systems into the company's startup plan.
Is Your Community Business-Friendly?
Your business will primarily be a local business. As such, you should get to know the local government before locking in on doing business in any given community. Are officials truly interested in retaining and assisting existing business, attracting new businesses, providing a pro-business climate for success, and providing services and incentives to small companies? If not, maybe you should reconsider your targeted location for your table and chair rental business.
Don't Ignore Competitors
Prior to opening a table and chair rental business in your area, it's essential to find out how strong the competition is. Try our link below to generate a list of competitors in your area. After following the link, enter your city, state and zip code to get a list of table and chair rental businesses in your area.
Gain a knowledge of how existing firms have positioned themselves in the marketplace, and then design your business in a way that sets you apart from the others.
Getting Advice from Experienced Entrepreneurs
If you are interested in starting a table and chair rental business, be sure to learn from folks who are already in business. It's very unlikely that the local competition will talk to you. The last thing they want to do is help you to be a better competitor.
However, an entrepreneur who owns a table and chair rental business in another town may be willing to share their entrepreneurial wisdom with you, once they realize that you are not going to directly compete with them in their community. In fact, they are often very willing to share startup advice with you. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
Do you know how to find a table and chair rental business entrepreneur who is willing to talk to you but doesn't live nearby?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
Branding Advantages of Buying a Table & Chair Rental Business
Startup table and chair rental businesses typically suffer when it comes to brand recognition because unlike entrenched competitors, new brands lack visibility and history with their customers.
Unless you are 100% married to the idea of a startup, you can bypass the time it takes to establish a brand identity by buying a business to get an established brand. As a startup, the best you can hope for is to gradually develop brand awareness over a period of months and years.
Acquiring an established table and chair rental business brand, on the other hand, has the potential to deliver the kind of brand recognition most startup can only dream about.
Explore Franchising Options
Franchised business startups give new business owners instant access to a proven workplace routine. A good franchisor can arm your startup with the procedural assets it needs to function smoothly from the start of operations.
With many table and chair rental business franchise opportunities to choose from, we recommend visiting our rental franchise directory to determine which franchisors are consistent with your vision and goals for your startup.
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