There is nothing unusual when people, housewives or homemakers don’t have enough tables and chairs to use when they have an upcoming big event. There is an underlying reason for that and that is because they don’t have the kind of space to house them up, either in their home or business.
But there are reputable businesses out there that are offering furniture hire services, they exist to fill in that void. They offer their clientele table, chair, and furnishing rental help, ideal for use in corporate and commercial events, luncheons, parties, and many more.
There is no secret formula for success here, but it is important to know what the basics are. These points we are sharing below will help you ace it all up.
Know What Your Market is All About
You can’t hope for a tenable thriving furniture rental company offering a sundry of tables, chairs, and other kinds of furniture if you fail to open it up in a viable market. A densely populated area will translate to more events that your furniture hire team can cater its services to.
This may include graduation parties, birthday celebrations, retirement, funerals, weddings, and a host of other community and religious events that can be carried out in private homes and even in commercial venues.
Think about searching out other hire furniture teams that may be in your geographical area and find out if they are also doing the same strategy you are planning to make. Doing so will give you a rough idea if the market you want to penetrate is already too saturated or not.
To make your brand distinct and stand out above the competition, consider offering products, services, or value offerings that competing companies don’t offer. Plan out the price range of your services, a good feasibility study will make the work easier for you.
It is paramount to have a good, in-depth understanding of your pricing. This is particularly very helpful if you are trying to develop your revenue projections for your business plan.
Decide on Services
While trying to take up the first few steps on how to put up your planned business, take into account the level of service you have in mind that you want to offer your potential customers.
Linens
Some of the leading hire furniture companies in the country are notable for their linen rental offerings, too. Party linens would include napkins, tablecloths, table runners, chair pads, chair coverings, and the like. Inventory for such items would also require you to have an additional outlay of cash. You also need to have a good association or partner up with a reputable commercial laundry company.
Delivery and set-up:
How do you plan to deliver, attend to the setup, or take down the table and chairs you are offering for rent? There is a good chance you will come across customers who will be just as happy saving some money by taking charge of furniture pick up and drop off on their own. Your team, though, handling these matters themselves will give you a chance to charge even more.
Write a Business Plan
Your company’s business plan will serve as your company’s road map. This will help you in mapping out a strategy so you can create a structure for your business and evaluate its financials. This would also cover for its potential weakness as well as perceived strength and aid you in coming up with a strong executive summary that will encapsulate what your business is all about, and how you will direct it towards success.
Investigate Licensing and Insurance Requirements
Anticipate as early as now that municipalities and states will have their respective requirements when it comes to business permits and licenses. If you are more leaning to offer delivery or set up services instead, there is a good possibility that you will need to consider vehicle licensing, too.
Another major consideration here for any kind of business is insurance. What you need to look for is insurance coverage that aims to give you protection from any kind of liability in any case that somebody got injured while using your tables and chairs that they leased from your company.
Of paramount importance here is that you find a seasoned insurance agent with extensive experience in issuing business policies. One area of concern that may need further looking into would be a policy that will give you and your staff coverage but may not extend to the local restaurant staff who are often assigned to handle, set up, and move your furniture.
Wrapping Up!
Soon after you completed your research and acquired your stock, it is high time that you let event venues and relevant individuals learn what you have to offer. What potential customers are looking for is someone who will help them in making the event party come true.
You can do so by offering their furnishing that is stylish yet comfy to use. It is also crucial you let them know that you will handle the aspect of heavy lifting.