When to say yes—and no—to new inventory

December 1, 2016

The economy is improving, tented events are on the upswing, and customers are spending more on decor and accessories such as sidewalls, doors, liners and drapes. This is good news for tent rental companies, because these items can bring a very good return on investment, says Scott Sutherland, president of Olympic Tent, a tent manufacturer …

Hosting a showcase during the slow season

Everyone appreciates the time of year when things start to slow down. But after a recuperation stage, tent rental companies may find themselves twiddling their thumbs, waiting for clients to call. What do you do to drive business at these times? Many facilities host a showcase or an open house. This one event can offer …

A succession solution in employee stock ownership

October 1, 2016

How to determine if an employee stock ownership plan is right for your company. An exit plan is generally not at the forefront of a company owner’s mind, especially at the height of career success, but it’s no less important than any other business strategy. When the time comes to step down, a comprehensive exit …

Case study: Expanding from one location to two

July 13, 2016

Expanding a party and event rental business from one location to two ideally results in higher revenue, a bigger market share and more opportunities for the business and its employees. But every so often, the unexpected happens. Consider Jill Redmon, president of Montana Party Rentals in Bozeman and Wyoming Party Rentals in Jackson Hole. Redmon, …

What to add to your tent rental inventory

July 1, 2016

Knowing your customer base is always critical to success, but this becomes even more important for tent rental companies considering expanding their offerings of non-tent event rental items. After all, taking on new products can represent a sometimes sizable financial investment; a major consideration for smaller operations in particular. The key to successfully creating a …

Payroll perils

June 1, 2016

Mistakes in withholding and paying payroll taxes to the IRS can spell real trouble for small business owners. Every employer faces countless rules and regulations involving the payments it makes to its employees. There are rules that dictate when (and which) workers must be paid overtime, the amount of taxes that must be withheld and …

Tempted to subrent?

April 1, 2016

Subrentals help tent rental companies keep inventories active and jobs coming in, but getting the most from this strategy requires playing it smart and being cautious. Subrenting equipment—whether to or from another rental company—can offer tent rental businesses some important, and tempting, benefits. Take renting to another company. An obvious advantage is that your inventory …

Brand new brand

December 1, 2015

A strong brand identity can drive sales, while a weak one can hold a business back. Is it time for your company to rebrand? Your special events business may be keeping up with economic and market changes, but is your brand keeping pace? There’s no denying that 21st-century business culture is fast moving and ever …

Managing cyber security

Don’t fall asleep at the computer. Today, even with almost every specialty fabrics business involved with some form of Internet connection or data storage (customer lists, employee information, books, records, job estimates, receipts and tax documents, for example), nearly 83 percent of small businesses do not have a contingency plan outlining procedures for responding to …

Slow season survival guide

October 1, 2015

Tent and event professionals offer their expertise on extending the season, generating off-season revenue and managing year-round and seasonal employees. With the end of the year quickly approaching, many tent rental companies in the U.S. and Canada are preparing for winter and the off-season months. Now is the time to ask some important questions about …