I want to encourage you that you can do this. Event rental businesses are great models for scalable growth. There is a lot of potential for people who have curated collections, lean infrastructure, and are savvy with their marketing. Strive to increase your revenue without increasing your expenses (focus on utilization— rent more of what you have before you buy more, maximize the space you have with vertical storage before moving, etc.). Read more
Published in The Money.
If you do decide to offer a discount policy or a referral program, make it great! Create an exclusive club for them to join or make a "platinum status" available only to planners. I would encourage you to have a clearly defined policy. It should also be something that you are transparent about (maybe even have on your website). In order for it to not feel icky or under-handed (especially to your end client), you don’t want it to be a secret. You also want to leverage it to get more business from planners and venues. Don't hide it, make it attractive and something people want to get in on. Read more
Published in Grow Grow Grow, The Money.
While some may think of a lemonade stand as a childhood right-of-passage or something to keep their kids busy for an afternoon, I experienced it as a window into entrepreneurship and small business ownership. I suppose I can’t help but think about what makes successful businesses tick but this sweet afternoon with my kids was kind of eye-opening actually. Here are some of the truths I was reminded about. Read more
Published in Biz Operations, Grow Grow Grow, The Money.
How do you mention a minimum order requirement (if applicable) without sounding negative? Read more
Published in Biz Operations, The Money.
We recently did a deep-dive into some data from our RW Elephant clients. We were curious to know what payment methods were most effective at helping our users close sales faster. Do you know what we found? Read more
Published in Biz Operations, The Money.
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Published in Biz Operations, The Money.
As I spoke to over 40 event rental pros this week in our Event Rental Success Groups, I started to see some themes emerge. Read more
Published in Biz Operations, Grow Grow Grow, The Money.
Do you ever wonder how other Event Rental Businesses deal with the problems you're facing? Wouldn't it be great to hear how others in your position handle damages? How do they find their crew members? What is their deposit policy? Where do their ideal clients come from? What is their average rental amount? How much do they charge for delivery? Read more
Published in Biz Operations, Grow Grow Grow, More, The Money.
I talk to A LOT of event rental business owners. We connect via social media, through an email referral, or actually meet in person (shocker!). I love hearing their stories, finding out what inspires them, and learning about their challenges. Sometimes people get pretty real when sharing with me— I’ve heard about the good, the bad, and the ugly. Read more
Published in Biz Operations, Grow Grow Grow, The Money.
We recently put together some like-minded specialty event rental pros (who also happen to be RW Elephant loyalists) for a weekly mastermind video call. We met each week for six weeks straight and dove into a new topic each time. We hashed out what’s working and what’s not in their specialty event rental businesses. We talked logistics, sales, employees, marketing… you name it! What an exciting experience it was to hear the triumphs and challenges that they each faced, the ideas and encouragement they brought to one another, and the enthusiastic results of this new community. Read more
Published in Biz Operations, Grow Grow Grow, More, The Money.
