5 Profit-Building Tips for Stocking Your Event Rental Company
IEP has learned a lot during our 20 years as the premier partner for event rental companies. We love sharing our knowledge and expertise with companies, especially those just starting out. One of the questions we are often asked is, “Which items are the best to make money off of?” There’s no short answer; each company, market, and client is different.
As an event rental company, your two most valuable assets are your staff and your inventory, which is why it’s important to make wise purchasing decisions. We recommend going with a core set of products that are elegant, basic, and durable so you can maximize their use and get the most value across event settings.
Here are our top 5 suggestions:
White Dinner Sets Are Always Worry-Free
Think white is boring? Think again! With a basic white place setting, you can get creative with centerpieces, table linens, and food without looking too busy.
White china is hands down the most versatile when it comes to place settings. Think of it as the cornerstone on which to build your rental company! Basic white is one of the items most requested by customers, so plan to make these your preferred stock - and buy them in bulk. Ordering wholesale place settings ensures that you have all the right matching pieces, but helps you avoid the overhead costs associated with single purchases.
Event Profit Point #1: Order your white dishes in bulk to maximize versatility and demand while minimizing costs.
Dish sets like our Suzanne White collection has a textured edge, adding subtle elegance that fits almost any occasion. They’re a perfect entry point for any new event rental businesses or seasoned caterers refreshing their presentation. Browse our inventory for the pieces you’re looking for, from 13-inch chop plates to 6-inch bread and butter plates and everything in between.
Sitting Pretty with Durable Dining Chairs
If you’ve ever been to a wedding, you’ve seen this type of chair - and for good reason! Chiavari chairs are an event rental company staple for several reasons. They pack and move easily from location to location. They’re understated, yet comfortable enough for day-long events. Finally, they’re dignified enough for any event theme or table setting, but lack nothing when it comes to strength.
You’ll notice a recurring theme in this article: if the event equipment lasts - and looks good all the while - those are the pieces that will show a significant ROI. Our secret tip? Buy Chiavari chairs that use high quality materials. Many companies sell chairs made of softwood, and they’re more susceptible to dents, scratches, and breakage. A Chiavari made of sturdy hardwood is going to be the money maker for most caterers and event hosts.
Event Profit Point #2: Choose Chiavari for your sturdy hardwood dining chairs to help give customers confidence in your event catalog.
Here at IEP, we supply only European hardwood Chiavari Chairs and Barstools. We also purchase in bulk directly from the manufacturer, which lets us pass the savings along to event businesses without skimping on quality. Choose from chairs of different finishes depending on your event’s landscape: white, black, gold, or natural wood tones.
Be Ready for Anything with Simple Stemware
Previous catering crews have come to IEP with all eyes on crystal stemware. Traditional crystal is a must-have, but is it enough? What about when your customers and guests insist on an outdoor event, or something with a more casual atmosphere? Are you going to try and make it work… or bring the glasses to match the mood?
Frosted glassware always stands out as the perfect fit for customers throwing an event seaside or in the open air. We’ve had event partners close destination weddings simply because they brought the one piece of décor to complete the dream. When everything needs to fit perfectly, you’ll want to have more than one stemware selection in your catalog.
Event Profit Point #3: Diversify your catalog to snatch up customers who may normally fall outside of your base with a minimal investment in alternate glassware.
If you need the basics, pick sophisticatedly simple glassware that will go with as many settings as possible. With a frosted finish and simplified design, IEP’s Island Glasses fit the bill for outdoor and destination events, or for any occasion that’s less than black tie.
Make Event Lighting Matter by Going for Gold
Most event rental businesses first come to us with a set catalog, a set customer, and “the best possible place setting.” To which we reply, “Oh - only one?”
If you’ve nailed the picture-perfect dining arrangement, then top marks for you. As we all know, however, it’s rare that an event goes exactly your way. When the conditions around your place setting change, does that picture still look perfect?
One of the biggest influences on presentation is lighting. Adding some shine to your color scheme can help you make the most of your available light, and literally dazzle your guests. Gold- and platinum-rimmed dishes, bowls, and glassware catch customers’ eyes, and in the age of social media make every plating Instagram-ready. It also brings some attitude to the table, like at corporate events where wealth, power, and boldness are looked upon fondly.
Event Profit Point #4: Catch the light and capture hearts under any event condition by stocking dinnerware with a metallic finish.
Guided Events Go Off Without a Hitch
What are the two things that every guest experiences, and every event must have in order to execute flawlessly… that can’t be seen?
As event planners, you’ve probably guessed it - timing and layout.
While they’re not used as often as your typical dining wares, ropes and stanchions are key facets of the event rental company’s inventory. When you’re more organized, you can manage more guests, which means closing larger and more profitable event bookings. They also add to the event’s final presentation and can help guests feel like they’re truly treated as the world’s elite.
Event Profit Point #5: Keep order and prepare for more profitable event bookings with one-time purchases of rope and stanchions.
Plus, it doesn’t hurt that a single rope and stanchion set will last you for years and most definitely let you recoup on your investment. Take a look at our rope and stanchion equipment; we offer styles for both practical purposes and flashyaesthetics.
The Final Word? Stock Up for the Event Business You Want
You should be building your event rental company on the foundation of select staple items - that will last - like these. We want to help! Here at IEP, we believe in combining our expertise in design and catering with high-quality, fairly-priced wholesale products. Deliver the perfect event experience with our wide selection of modern dinnerware, elegant glassware, select chairs, and more.