It’s no secret that the U.S. wedding industry is worth a lot of money; in fact, the value of the wedding industry in 2016 was an estimated $72 billion, according to MarketResearch.com. There are a lot of opportunities to make money in this industry, and therefore, many competitors. It might be discouraging at times, but there are ways to make your event rental business stand out in a sea of competition.
Here are some steps to make your event rental business stand out:
- Embrace competition in the rental space.
- Learn to run your rental business efficiently.
- Develop a strong rental business brand.
- Establish an online web presence.
Let's break it down:
It’s so easy to look at competitors as enemies, but instead of worrying about them taking your business, consider what you can learn from them instead! Our competitors can be our greatest source of inspiration. It can be tempting to try to copy what others are doing, but instead, look at what your competitors are offering and specialize in something different. Or, if one of your competitors isn’t excelling in a certain area, make it your goal to succeed in that area. For example, if you have heard from clients that they don’t often get timely responses from vendors, make it your goal to always respond to your customers as quickly as possible.
Run Your Business Efficiently
Many rental businesses struggle with managing their inventory, sending quotes, and keeping everything organized. Organization is crucial to any business, but especially to rental businesses where there are so many physical items and events to account for. One of the best ways to stay organized is through the use of an event rental software such as Goodshuffle Pro. With Goodshuffle Pro you can stay on top of all of your projects and tasks, showing your customers how professional you are and giving you an advantage over others.
Develop Your Brand
Developing your brand and figuring out exactly who you are and what you have to offer is one of the best things you can do to set your rental business apart. Oftentimes, people think that your brand is composed solely of your logo, colors, and fonts. While your logo is an essential part of your brand, your actual brand goes far beyond just your logo. Your brand is how your customers feel when they look at your website, read your emails, and interact with you.
To help figure out what your brand is, ask yourself a few questions:
- What do you want others to feel when they interact with your business?
- Why did you start your business?
- What value do you bring to your clients/their events?
When developing your brand, remember to remain authentic! Staying true to yourself and who you are will help you to attract more clients that are a great fit for your business. This will also help you to figure out how to evolve your business as time goes on.
Develop Your Web Presence
- Having an event rental business can be very stressful - there are so many things to keep track of and so many moving parts! With so much going on, it can be easy to forget to manage your presence online. Some things to consider doing when developing your rental business' web presence are:
- Develop your social media following on Facebook, Instagram, and Twitter. Make sure you have the links to your social media accounts shown on your website and in your email signature!
- Link your blog to your website and maintain a regular blogging schedule. This helps to show who you are to your followers (helping to develop your brand!) and increases your SEO.
- Get as many professional photos of your inventory as possible and make sure you have them listed on your website. Clients visiting your website want to see what items you have available. The more information you can give them, the better! If you’re struggling to get photos of your inventory, consider asking photographers for photos from past events. Or, plan a styled photo shoot to get some great photos!
Wherever you are in your event rental business journey, we hope that these tips will help you to grow your business. Set yourself up for success - now and in the future.
Curious how Goodshuffle Pro can help you grow your event rental business?
Lauren Mestas is a Wedding & Event Planner based in Albuquerque/Santa Fe, New Mexico. She took over ownership of Darling Details Vintage Decor Rental Co. in the Fall of 2016, and has loved building a collection of unique and vintage items for rent. In her spare time, you'll find her practicing hand lettering, painting & renovating furniture, and writing about weddings.
Feature Image by Briana Nicole Photography