Every event pro in the tent business is wondering how tent rental companies can make more money in 2020. Do you have a plan ready to increase revenue and decrease your stress? It's time for some serious rental business resolutions and here's your plan to do just that.
Week 1: Consider Off-Season Money Makers
Depending on where you live, tent rentals can be very slow in the
winter months. While it may not be a time for that summer wedding
revenue, there are still other ways to make your business money.
One idea is to diversify your inventory, by including other specialty installs like pipe and drape for social events, trade shows, and more. Of course, many tent companies also carry your basic rental necessities such as tables and chairs which are the highest recommended rentals year-round.
You can also consider some more creative revenue streams for your
business. Some rental companies use their delivery trucks for other
purposes, such as Christmas tree delivery. Others may use their string
lights for Christmas decorations!
Whatever your path, you’ll want to be sure to plan it first, as the slow season requires more careful planning than the revenue rush months.
Week 2: Shop for Software
Don’t wait for the new year to start the hunt for better technology! The last thing you want is to end up rushing to make a choice to kick off the new year right and then starting the new year behind as your team adapts. Fall is the ideal time to start the shopping process, trial your top contenders, and take the time to learn all the various features of a new inventory software.
Listen to this great webinar on how to shop for smart software and you’ll get a step-by-step plan on how to select the software that’s actually best for your event business.
Of course, an all-in-one event business platform like Goodshuffle Pro is ideal for tent rental companies as it streamlines everything from sales, to pick lists, and crew management. While some business owners believe they are saving money by not investing in software, the opposite is true! Not having software means paying humans for things that technology does faster and cheaper. Humans doing copy/pasting between systems also leaves room for human error, and we all know what a double booking or financial misstep can cost you and your business’ reputation.
Week 3: Improve your Marketing Presence
Every business owner says they don’t have time for marketing, so the off season is the best season to finally create time. Improving your social media strategies and your digital marketing can make a huge difference in getting your tent company’s name out to potential clients. Different channels through which you can improve your marketing presence include:
- Social media platforms
- Content creation through blog posts
- Website updates
- Paid advertisements
While marketing in the off-season can be tough, having a functioning, updated, easy-on-the-eyes website is just the beginning of making more money. The kids may be onto something with this whole technology thing, because it’s super important to be present and active on a variety of different social media platforms. Make sure to re-post others’ content and create your own as well, so that you can share your knowledge and increase your search engine optimization.
Week 4: Refurbish and Renew Equipment
Another thing people never have quite enough time for in the crazier months is fully refurbishing their inventory. Right before business begins picking up again is the perfect time to revamp your equipment. While it may not make you more money directly, deep cleaning your equipment when it’s not being used as frequently will make you more money in the long run because you will be able to rent it out longer and charge more for such pristine products. Plus, your clients will be more likely to leave positive reviews if the equipment is in top notch condition, which will improve your social proof and encourage more people to check out your company (a win-win-win-WIN situation!).
(Goodshuffle Pro makes it easy to see your items that need repair)
Week 5: Re-book Past Events
Corporations, schools, churches, and other organizations have annual events and, while they may recall liking your service, they may have forgotten your name! Hopefully they’ve seen all the new marketing you’ve put in place, but it never hurts to reach out directly to your top earning clients and companies from last year and ask how you can work with them again in the new year.
In Goodshuffle Pro, you can see your top events and top clients from the year, which makes it easy to call them up and re-book. Dedicating time to re-booking past events will allow you to invest more quality time into your relationships with your clients and ultimately allow you to provide the best customer service possible.
Week 6: Ring in the New Year With Discounts for Customers
Because it is harder to bring people in when the demand isn’t as high, use the winter months as a chance to offer discounts. This will bring in more customers who are initially attracted to the deal, and then will expose them to your other types of tents and products, making them more likely to become repeat customers. This is an example of foot in the door phenomenon, which tends to be very effective in sales.
Don’t wait for the New Year to start building your 2020 success. The best way to tackle any resolution is to lay the groundwork in the weeks leading up, so you can enter the new year with a head start on your competition.