“Party rental companies enjoy a 10-15% profit margin, which is higher than the average retail business.” TapGoods
Whether a customer is hosting a birthday party, corporate meeting, wedding, or family reunion, they will almost always need tables and chairs. This is a profitable window of opportunity for entrepreneurs who want to rent out event equipment. But if you’re just getting started, you may be wondering how to pick the best tables and chairs for your rental business.
Whether you’re just starting or want to expand your inventory, we’ve covered you in this guide to the best tables and chairs! In this blog, we’ll explore the profitability of renting chairs and tables, the most common types, where to buy the best tables and chairs, and how to charge a fair rate for your rentals.
Let’s get started!
If you’re just getting started with renting out inventory, you may be strapped for cash or feeling picky about what types of inventory you want to invest in. For small businesses that are just getting started, tables and chairs are an essential investment that you want to make available to your customers.
If you’re wondering whether tables and chairs are a worthwhile investment for your rental business, the answer is a resounding “yes”! Everyone needs a place to sit down, relax, and enjoy the event. And where do they put all the food, drinks, and decorations? On tables, of course! That’s why tables come in as the second most rented item after chairs, forks, knives, and plates. Imagine going to a party and having no place to sit or eat. It just wouldn’t work!
Tables and chairs are a basic need for every event, and having those in your inventory opens doors to more rental opportunities. Once a customer sees that you can meet their basic needs, they’ll be more inclined to find out what other kinds of inventory you carry. And if you carry all the inventory your customers need, they’re more likely to use your business’s services since it is more convenient.
Additionally, since they are in high demand, tables and chairs are items that have a great return on investment (ROI) potential. We’ll talk more about this later!
Schedule a Demo with TapGoodsIf you’re just getting started with tables and chairs, you may be wondering “What are the best tables and chairs for my business?”
Well, it depends on what your target audience is. Renting tables and chairs to a children’s party is different from renting them to a wedding vendor. So, if you’re wondering which ones are the best for your customers, consider your target audience.
Are you an inflatables company that typically rents for birthday parties, family reunions, or school carnivals? If this is the case, you should invest in plastic folding chairs and rectangular tables. Since these are more casual events, customers hosting them are unlikely to spend money on expensive, fancy chairs like Chiavari chairs.
On the other hand, if you’re aiming to rent out to weddings or fancy corporate events, you’ll want to think about stocking up on resin chairs, Chiavari chairs, cocktail tables, and round tables. These events often have a bigger budget for making things look extra special, and the people planning them are looking for that touch of elegance that makes their event stand out. And if you’re renting out to fancier events like weddings, consider investing in linens and quality tableware that will make your items pop.
Remember, the best tables and chairs for your customers are the ones that match the kind of events they’re throwing. If they’re planning something laid-back and fun, they’ll love those easy-to-move plastic options. But if they’re putting together an event that’s all about luxury and style, they’ll be looking for something a bit more upscale.
Schedule a Demo with TapGoodsSo, how do you find the best place to buy tables and chairs? You look for shops that sell things in large amounts and have great reviews from other customers. When you search “where to purchase chairs and tables wholesale,” choose sellers with 4 stars or more; they should have lots of different chairs and tables to choose from.
It’s also a good idea to check if there are any places nearby where you can buy what you need. It’s great if you can find a good seller close to you because it might save you some money on getting your tables and chairs delivered. But, here’s the thing: don’t just pick a place because it’s close. Make sure their chairs and tables are good, too. You want your stuff to last long and look good for your customers’ events.
Here are some reputable vendors online that sell quality tables and chairs:
When you set prices for your table and chairs, research your competitors. What are their prices? Can you set a better price and still make money? If you can offer a better deal, you’ll likely attract more customers. Be careful about pricing items TOO low, though, because prices that are too low can indicate to customers that your products might be bad quality.
There is no one-size-fits-all solution to pricing; it all depends on the market and your business’s individual needs. Once you’ve set your prices, keep an eye on how your customers respond. Are orders flooding in, or are customers hesitating to order? Are you getting pushback on your prices? Ask your customers for feedback, and eventually you will be able to use this information to decide whether you need to raise or lower your prices.
One great thing to consider is peak seasons and how they can affect impact on pricing. The demand for tables and chairs changes throughout the year. For example, summer is considered a peak season for weddings, graduations, and other school events. During this time, you may be able to adjust prices higher to account for higher demand. But during slower months, you may need to adjust lower to attract customers.
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Setting prices for your inventory is a bit of a push-pull game, you’ll always be adjusting them. Overall, you always want to send the message to customers “Hey, I have the best tables and chairs AND I’ll give you the best deal” without compromising on profits.
Tables and chairs are some of the most popular items to rent, so if you’re just getting started or looking to invest in new inventory, these are a great choice to get started with! Just remember, quality and customer satisfaction are key to building a successful rental business. By offering the best quality, you’re not just providing furniture; you’re helping create memorable moments for your customers’ special occasions.
Also, don’t forget to keep an eye on your inventory. Make sure all of your items are always in top condition. A quick check before and after events can save you from unexpected surprises and keep your reputation high with customers!
Finally, remember that running a rental business isn’t all about profits. Renting out the best items available to your customers serves as the foundation to many people’s happiest days. Enjoy it and take pride in what you do.
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