Published On: Sun, Oct 1st, 2017

Events Rental Services – Canopies, Tables, Chairs

Party Equipment Rental Services is a very lucrative form of business with a long time residual income value. In most parts of the country, partying is a common practice especially on weekends. It is usually one party or the other. Saturdays and Sundays are known for weddings, birthdays, survival, dedication, thanksgiving parties, etc.

Indeed, people love to have fun and this feat can`t be achieved outside the right ambience and atmosphere that event equipment add to the groove of the day. That is why party equipment rental services especially in happening cities and bubbling towns in Nigeria is a treasure to invest in.

Anybody organising a party wants it to be a success. So, they spend money on all the materials needed for the success of the party. This is where party equipment rental services will be required. Because, all of the chairs, tables, tents, cooking equipment and the likes will be required for the success of the event. Since the person holding the party may not have all of these materials, it will be necessary for such a person to rent the equipment.

Party Equipment rental services involves renting or leasing equipment like chairs, tables, commercial cooking equipment, tents and so on, to people, for the smooth running of an event or occasion.This kind of business requires huge start-up capital. But, the good thing is that, once you are able to get all of the equipment needed, you will continually make money with them. The same sets of equipment will generate income for the business.

Let’s do a little analysis of chair rentage and how it generates income. The market price of one armless plastic chair is N1000 while rentage is about N1,000 per dozen.  If you buy 120 plastic chairs, which is 10 dozens, it will cost about N120,000 or less. If, for instance, you give the whole ten dozens of chair out on rent for N1,000 per dozen every weekend. That means the chairs will be generating N10,000 as revenue every week.

The more often you get patronage, the faster it is for you to cover your costs of getting the chairs and start making profit. That is why, you need to have a large customer base and do business more often. The same thing goes for canopies and commercial cooking items. You have to buy the pots and pans, get the wood-burning stove or gas stove. Getting these items can cost up to N100,000. But, the rentage of any of these items cost about N300 for one day.

Recently, a get together program was held. We had to rent cooking pots, spoons and the local wood-burning stove as well. Everything cost around eight hundred Naira (N800). We rented the items late in the evening and returned it the next day, after the program. Supposing, another group of people or individual rented the items after we returned it the next day, it would mean that, the person running the rental service has made, one thousand and six hundred Naira (N1600) in two days, with the same items. That is how party rental business works. As long as you have the equipment, you will always make money from such rental business.

Aside from the cost of maintaining the equipment, transporting them in some cases and paying the person(s) that will help you load and offload the equipment into the vehicle, you won’t be incurring any more expenses. Rather, you will be making profit.

One of the benefits of doing this business is that, you can do it from your home. All you need to do is to create space for storing the equipment in your house. It also gives you opportunity to do other businesses while you run a party rental service.

For party equipment rental business, you may need to register your business name with the Corporate Affairs Commission of Nigeria (CAC) and also with the association of party equipment rental service in the area of your location.

Get The Equipment You Need

When you have taken the above steps, you can then go on to get the equipment you will need for your business. Ensure that all of the equipment you buy, are original and up to standard. Go for the types of equipment and brands that are in use. You can take a tour of a few parties in your area and get all of these information.

Also, make sure that the chairs you buy are strong. Ones that will not easily get broken or damaged during transportation or usage and that will last for a long time. And it any chair or equipment get broken by the customer, you charge them for the replacement.

Make Provision For Transportation

Another thing you need to make arrangements for, is means of transportation. Most party equipment rental service have pick-up vans, with their business names written on it.

It is for transporting party equipment to the location of the party. Especially, if the event is being held at a far distance from where the rental service is located and when the equipment being rented are too much to be carried by one person. So, you must have a ready and steady means of transporting the equipment.

Get Customers For Your Party Equipment Rental Services

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. It is also an added advantage for you if the business is located where you reside. This is because, you can talk to the people that you know are planning a party and they will rent the equipment needed from you.

The person throwing the party in your area, will not want to go and get equipment from a far distance and get to pay extra cost for transportation.

You can partner with an event management company or event planner and caterers. If you have good rapport with an event management company or planner as well as caterers, they will always rent the equipment needed for the planning of their occasions from you. They will recommend you to other prospects as well.

Start By Giving Discounts And Special Offers

You will need all the advert you can get, for the purpose of getting clients. That is why, you may need to start out by giving discounts and special offers to customers. This will create an avenue for word of mouth or referral marketing. Because, anybody that gets a discount or special offer from you, will tell another person who is holding an event about your service and they will patronize you.

For example, you can decide to give a customer who rented some dozens of chairs from you, one more dozen, as a bonus. It will make the customer happy to the extent of telling others about your services. Note that, your charges must tally with that of other rental services.

Get People To Work With You

You may need to hire one or two people for maintenance, taking record of orders and delivery as well as inventory of the equipment. It will relieve you of stress and also give you the opportunity to do other things along with running the business of party equipment rental.

Party equipment rental services is a very lucrative business in Nigeria. Once you are able to bear the cost of getting the equipment, transportation and maintenance and you are getting clients constantly, you will always smile to the bank.

COST ANALYSIS (Restricted to canopy, plastic table and plastic chair segment of Event Rental Servives)

NAMES QUANTITY PRICE
BUSINESS REGISTRATION                        40,000.00
canopy           20 by 40 (1 Set)                    126,000.00
Plastic table          A DOZEN                    180,000.00
Plastic chair          A DOZEN                      30,000.00
Truck         TOYOTA DYNA (NOT NEW)                 2,500,000.00
TOTAL                 2,876,000.00

 

© 2017, Hallmarknews. All rights reserved. Reference and link to this site is required if you wish to reuse any article.

Reactions from Facebook

comments and opinions

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Most Shared

Recent posts

  • Why NNPC adopted contractors funding contract

    The Nigerian National Petroleum Corporation (NNPC) has explained why it has resorted to contractor-financing of its pipeline and other facilities development in recent times in the Industry. Delivering the Keynote speech at the Nigerian International Pipeline Technology and Security Conference (NIPITECS 2018) Tuesday in Abuja, the NNPC Group Managing Director, Dr. Maikanti Baru, stated that […]

  • Justice Kafarati explains why AMCON failed to recover N5.4trn debt

    The Chief Judge of Federal High Court, Abuja Division, Hon. Justice Adamu Abdu Kafarati, has said there is a need for judges in Nigeria to support the recovery efforts of Asset Management Corporation of Nigeria (AMCON) since the corporation was established as a central element of government’s response to financial crisis in the country.  Justice […]

  • Equity market extends positive sentiment by 0.18%  

    The Nigerian equity market had its second consecutive rally on Friday, gaining 0.18 per cent, buoyed by sustained buy pressure. Sustained positive trading pushed the All Share Index (ASI) up by 59.28 absolute points, representing a growth of 0.18 per cent, to close at 32,540.17 points. The market upturn was on the back of the […]

  •  Why Polaris Bank was set up to take over Skye Bank—NDIC

    FELIX OLOYEDE The need to ensure the safety of depositors’ funds propelled the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to establish Polaris Bank to succeed just defunct Skye Bank. NDIC disclosed said this today in a released signed by its Mohammed Ibrahim Head, Communications and Public Affairs, and he promised […]

  • My Mandate Is To Deliver The Ecobank Brand Promise As Platform Of Choice In Nigeria – Akinwuntan

    The Managing Director, Ecobank Nigeria, Mr Patrick Akinwuntan has reaffirmed that his mandate in Nigeria is to grow the Ecobank brand by delivering it as a brand of choice. The bank Managing Director stated that Ecobank service will be available and within the reach of every Nigerian either in their homes or locality through any […]

  • Experts blame shareholders as CBN revokes Skye Bank’s license

    FELIX OLOYEDE The failure of Skye Bank shareholders to recapitalize the bank, which has been battling with acute liquidity challenges is responsible for the revocation of its operating license of Skye Bank by the Central Bank of Nigeria (CBN), experts have declared. Prof. Joseph Ajibola, former President, Chartered Institute of Banking of Nigeria (CIBN) opined […]

  • Bulls return to stock market, appreciates 0.33%

    By FELIX OLOYEDE The Nigerian equity market on Thursday trended upward, reversing the previous day’s negative sentiment. The bourse gained 0.33 per cent, propelled gains recorded in medium and large capitalized stocks with WAPCO setting the pace. The All Share Index (ASI) appreciated by 105.77 absolute points, representing a growth of 0.33 per cent to […]

  •  Elumelu Foundation to launch world’s largest digital platform for African entrepreneurs

    The Tony Elumelu Foundation has concluded all plans to launch the world’s largest digital platform for African entrepreneurs and the African entrepreneurship ecosystem –  TEFConnect. TEFConnect will officially be unveiled at this year’s TEF Forum, taking place on October 25, 2018, at Federal Palace Hotel, Lagos, Nigeria. Harnessing and building on the success of Africa’s […]

  • NNPC declares 46% trade surplus

    Nigerian National Petroleum Corporation (NNPC) has stated on Thursday  that it had trade surplus of about 46 per cent in oil sales in the month of April, 2018. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in a statement noted that the trade surplus which amount to N17.16 billion was part of the highlight […]

  • 2018 GTBank Fashion Weekend to hold in November

    Fashion enthusiasts all over the world will be treated to an unparalleled exposé of Africa’s finest in fashion at the 3rd edition of the GTBank Fashion Weekend, which is bid to hold between  November 10-11, 2018, The two-day event will bring together renowned fashion personalities from around the world and budding small businesses in the […]

  • NDIC hosts IADI Africa Regional Committee AGM

    The Nigeria Deposit Insurance Corporation (NDIC) will host the next edition of the International Association of Deposit Insurers (IADI) Africa Regional Committee (ARC) Annual General Meeting and Technical Assistance Workshop. The event which has been scheduled to hold at the Four Points by Sheraton Hotel, Lagos from September, 25th – 27th 2018, would be focusing on Financial […]

  • Ambode 2019: The godfather’s revolt

    By OBINNA EZUGWU As uncertainty continues to hover around the second term bid of Lagos State governor, Akinwunmi Ambode, following an alleged plot by the state’s political godfather, Senator Bola Ahmed Tinubu to hand the ruling All Progressives Congress (APC) ticket to the Managing Director of Lagos State Property Development Corporation (LSPDC), Mr. Babajide Sanwo-olu, […]

  • FG to generate N6bn from concession of 20 Silos

    The Federal Executive Council (FEC) on Wednesday approved the Concessioning of 20 out of its 33 Silos to private sector operators at the cost of N6 billion. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, revealed this when he briefed State House correspondents on the outcome of the meeting of the Federal Executive […]

  • Insurance sector sell-off drags capital market down, loses 0.02%

    The Equity Market on Wednesday shed 0.02 per cent, reversing yesterday’s positive sentiment. The downturn was on the back of the massive sell-off in Insurance stocks among others, which dragged the All Share Index (ASI) down by 5.88 absolute points, representing a dip of 0.02%, closing at 32,375.12 points. The Market Capitalization also dipped by […]

  • Number of extremely poor continues to soar in Sub-Sahara Africa

    Although globally, extreme poverty has rapidly declined, the number of people living in extreme poverty is, however, on the rise in Sub-Saharan Africa, comprising more than half of the extreme poor in 2015, a new poverty estimates by the World Bank has shown. Forecasts also indicate that by 2030, nearly 9 in 10 extremely poor […]

  • MAN sets for 46th AGM as Jacobs bows out 

    The Manufacturer Association of Nigeria (MAN) has unveiled plans for its 46th Annual General Meeting and Manufacturers Annual lecture/Presidential Luncheon, which is scheduled for  September 26 and 27, 2018 in Lagos. The occasion will also see the outgoing President of MAN, Dr. Frank Udemba Jacobs end his 4-year tenure. The event will play host to […]