This 1100x Our Rental Business! | Grow Your Party Rental Business with New Inventory
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- Опубліковано 29 чер 2024
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🎧 Get ready for another enlightening episode of "The Rental Boyz" podcast! In this episode, titled "[This 1100x Our Rental Business! | How To Grow Your Party Rental Business with New Inventory]" Xavier Kelly and Eduardo Sauceda return to share invaluable insights on expanding your rental categories. Learn How To Grow Your Party Rental Business with New Inventory Categories.
Discussing the process of selecting the appropriate new equipment types to add and evaluating factors such as market demand, profitability, and compatibility with your existing business.
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👇🧐 About The Host 🧐👇:
The hosts have 5 years of experience running an event rental company. Their company, Kelly Rentals, makes more than $2.25 million a year as of 2023. Located in DFW, Texas, they’ve helped more than 20 other event rental companies across the country.
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Contents of the Video
00:00 - Why you should watch to the end
01:55 - Identifying Market Opportunities and Customer Demand
03:10 - Methods for understanding Customer Demand and Analyzing Market Trends
06:05 - Why Evaluating Feasibility and Return on Investment is Important?
09:25 - Calculating the Return on Investment (ROI) for each Equipment Addition
11:15 - How to conduct a GAP Analysis?
13:40 - Insights on Acquiring the New Equipment
14:30 - Insure Your Business With Next Insurance
17:05 - Importance of providing adequate Training for your Staff
20:00 - Marketing & Promotions
21:10 - Tracking Performance of the Rental Equipment
23:05 - The Rental Rundown: Tackling Your FAQs - Навчання та стиль
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You guys are actually my competitor here in DFW and I will say you guys have amazing customer service. We had to sub rent throne chairs from you for a wedding and there was an issue and you guys handled it amazingly. About to leave you guys a 5 star review. Love your videos. Keep killing it.
Thank you Cyndi, what’s your website? Let’s partner or some event in the future. I appreciate the 5 start review as well. Let talk tho.
So cool that you commented this!
@@Lawngames4you😊
You are also a great company to say kind words of your competition.its always good to have rental allies .it has helped me when I got in a pinch needing more chairs than what I had.one month later I helped his company with tents.we are now good friends and have agreed to help each other out.some of his guys help me out when he gets slow to keep them working.
🙌👀
Very informal video I would like to schedule a time we could chat about expansion guidance for my own business.
Thank you! Reach out to us here to setup a time: bit.ly/CalendarRBpod
How long have you been in business?
Excellent info as ever and inspiring for those starting and for those already in the biz. I always look forward to your content and an always taking notes!
We appreciate the kind words. This mean the world to us! What topics would you like us to dive deep on in a future episode that would better serve you?
Great Videos and Great guys. Thank yall for sharing this free info
Thanks for watching and commenting that’s means the world to us. How can we provide more value to you?
This is gold Subscription earned! Free knowledge, you guys are awesome.
We love our Next insurance! Inexpensive and great service.
We have an our opinion on flash furniture, but they rent so that all we care lol.
On point with the assume the sale, scared money make no money!
We’ve implemented loyalty rewards and the clients love it. Gets that retention bonus.
To finalize, never be scared that you don’t have money. Use what resources you have. We started in 2000 Nissan Altima and 2001 Nissan Xterra that we gutted out and fit our 20x40 pole tent.
Greetings from California, planning on a future podcast on our side over here.
Thank you for your generous compliments. When it comes to poly folding chairs, do you have a preferred brand? I'm glad you resonate with the concept of 'assume the sale' and the saying 'scared money makes no money.'
We'd be thrilled to host you and delve deeper into the loyalty rewards system you've initiated for clients. Additionally, I'm curious to learn more about the 'Nissan Xterra' - could you provide further details?
@@therentalsboyz
We implemented loyalty rewards, for every $200 (rental equipment) spent they accumulate 10 points.
Clients are able to redeem their points towards their next rental purchase, each point is worth $10.00. No cash value of course and only redeemable for rental products and not service charges.
Gives them that need to push their order to $200, this works great for maximizing small orders. Which are usually 83% of the orders for party rental companies.
Customer retention is important and takes time to understand. Once mastered the world is yours!
Would love to chat more and network, see how other markets run and what rental products rent more in certain areas.
Warm Regards
Alex
LV Rentals
Alex, lets talk on the podcast about this.
@@therentalsboyz would love to converse and elaborate more. I’ll send over our information for contact.
@@therentalsboyz My pleasure, there well deserved. Ive emailed your team our contact information. Our company is LV Rentals. We look forward to hearing from you.
Thank you for the info and checklist guys, looking to start out here in MN!
Best of luck!
Have you started?
@@Lawngames4you I have, we’re specializing in marquee signs rentals at the moment but are growing our yard games for next summer. We’re at @Northernlightsrental
👀
Drop your link please so we can check you out.
Can you provide the software that you use to track inventory and expenses? Thank you so much! Keep up the great work
I appreciate you watching the video. We built our software from scratch but we model all of the features off:
bit.ly/RentleRB
Have you already started your party rental business?
Hi,
We are doing Paid Beta Plans for you to have the opportunity to use our all-in-one rental management software. If you want to join the beta and use our software, please sign up for our waitlist, or get a demo by visiting us here: bit.ly/rentmorepro . Reserve your spot and don't miss this chance; this is the second Beta we are doing out of three.
Just a question, Are you guys brothers? You both look alike. Just different colors. I love your videos. Great job, and stay blessed!
No we are not blood brothers but we are brother from a different mother .
Would I be able to do a chair, table, and small tent business with a Nissan v200 pulling an open 4x8 utility trailer you think?
Yea you could do 10x10, 15x15 and 20x20. You might have to make a couple of trips.
Here a photo of how I started: drive.google.com/file/d/1iVY9OLWZpdPeYAo_3a-WmV7qnTA88XJE/view?usp=drivesdk
Thanks for watching the video and when are you planning on getting started?
I’m looking at starting with a pop up tent since its just me. Should I just go ahead and go with a 10 X 20 with side walls or 10 X 10 with side walls?
The 10x10 size is my personal preference due to its ease of setup and compatibility with a tent gutter. In contrast, if you choose the 10x20, you'll likely be responsible for handling the setup and dealing with weather-related challenges.
We used to rent out the 10x20, but encountered issues with customers struggling to set them up, leading us to take on the responsibility for potential weather incidents. To avoid such complications, consider taking down the 10x20 after the event.
However, with the 10x10, customers have the option to set it up and take it down themselves, or they can avail of our pickup service later. This way, they have more control and convenience when organizing their events.
Thank you for watching but we use both in different markets. Let us know if this answer help or if you have anymore questions.
@@therentalsboyz thank you for the reply! Did you find that if there was bad weather, customers called you to get the tent?
I’m definitely going to go with the 10X10! Any brands you recommend? I see some on Amazon for $500 with walls and then some companies have quoted me over $1k. I definitely want to get a good quality tent but don’t want to overspend so early.
Yea a couple of times but when we switched to where we don’t setup or teardown the Popup tents it changes. We use ez-up tent because you can buy all the parts if you need to.
@@therentalsboyz thank you! I May have to offer set up for now. One day I hope to catch up to you guys, then customers can get the tent themselves lol
You will get there. What is the extra price you add.
Would you guys recommend getting a small business loan to help start a party rental business.
This is an optional choice we would have considered right from the very beginning, but it's essential to ensure you acquire what you need while staying within your budget. This option becomes particularly appealing if you intend to remain in the industry for an extended period and possess excellent credit.
👋HI. I'm located in Chicago, IL. I just acquired a vintage place setting rental business🎉 I am also an event planner so it is now my sister company. I am working to expand the rentals to include my event inventory that I have collected over the years. Currently, I only use them for my clients but I want to rent them to the public for additional income. Do you think I should combine the 2 businesses inventory once I get a rental system or keep them separate? Please help😊
@ashleynicolefoxsmallworld9799 Congratulations on acquiring a new rental company! How much did you pay for it? I like the idea of consolidating all the items into one company and renting them to yourself or your clients. But you can't really go wrong; it's all based on your personal preference. Thank you for watching this video.
Only $10,000 and I got everything! The ladies retired and I used to rent from them all the time♡ They practically gave it to me.
What all did you get?
@@therentalsboyz 22,156+ pieces of great condition vintage Dinnerware, name, website and domain, social media, emails, showroom and storage (I took over the rent) shelving, cleaning supplies, furniture...everything!
Thing are looking 👀 up
What company do you guys use for insurance and where you guys located ?
We are currently use Next Insurance: bit.ly/NextInsRB (Affiliate) and we are in Dallas-Fort Worth Texas. Thank you for watching the video. What city are you in and what is your company called?
@@therentalsboyz I live in Michigan
What are you busy season there?
@@therentalsboyzApril to October
Thank you! What is your number 1 month in earned revenue.
Don’t you gotta have good credit to start any business?
Hi there. Good credit can help, but it's not always necessary. There are other ways to start a business, like saving up, finding investors, or getting a small business grant. Keep exploring your options!