The Elephant in the Blog

It Shouldn’t Cost Your Employees Anything To Work For You

Beware, dear event rental business owner, the creep of beginning to resent your employees. It can happen subtly and slowly but it does happen to many of us entrepreneurs. Read more

Published in Biz Operations, The Money.

How to Buy or Sell An Event Rental Business

Thinking about buying or selling an event rental business? You’ve come to the right place! Read more

Published in Biz Operations, The Money.

How Credit Card Processing Can Save You Money

But when it comes to credit card processing, I’m often surprised at our clients’ approach. Many times, I see our clients implicitly or explicitly encouraging their customers to pay with a method other than credit card (cash, check, etc.). Ostensibly they’re doing this to avoid the credit card processing fees— with the intention of making more money. Unfortunately, however, I think that discouraging their customers from using credit cards actually costs them money in the long run. Read more

Published in The Money.

When to Buy A(nother) Truck in Your Event Rental Business

The number one area we see event rental business lose money is in deliveries. Setting the right delivery fees plays a big role in your overall profitability. A huge factor in those calculations has to be your delivery trucks. When should you rent? When does it make sense to buy your own truck? Getting it right could make or break your event rental business. Read more

Published in Biz Operations, More, The Money.

How To Use Discounts To Get People To Do What You Want In Your Event Rental Business

Vendor discounts and referral fees (aka kickbacks) are such an industry norm (particularly in certain regions) that many people think I blaspheme the event gods if I even consider not making such an offering. Read more

Published in The Money.

How to Save Thousands (A Cautionary Tale): Preventing Credit Card Fraud in Your Event Rental Business

While we know that accepting credit cards is convenient for your clients, and increases your closing speed of rental orders, there are some negative ramifications you’ll want to hedge against with your systems and processes. A security breach and compromise of your clients’ credit card data can include regulatory notification requirements, loss of reputation, loss of customers, potential financial liabilities (for example, regulatory and other fees and fines), and litigation. Read more

Published in Biz Operations, The Money.

Decoy Pricing for Event Rental Businesses

Employing simple pricing strategies in your event rental business can make a big difference in your bottom line. Read more

Published in The Money.

More Lessons from a Lemonade Stand

My entrepreneurial brain can’t help but notice the pricing strategies, sales successes, and marketing tips along the way in a situation like this. Despite the sweaty temps and the exhausted kiddos, I learned a lot about small business along the way. Read more

Published in Biz Operations, Grow Grow Grow, The Money.

Friday Q&A: Can I Go After the Planner for an Unpaid Damage Fee?

Damages are the worst, #amiright? And then getting the client to pay for them is super frustrating! This week's Q&A is from Wendy about damages to a sofa and the chaos that ensued. Read more

Published in The Money.

Five Ways to Squeeze More Money Outta That Piece

Looking to increase the Dollar Utilization of an Item in your Rental Collection? Check out these 5 strategies for getting more money out of your pieces. Read more

Published in The Money.