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Ticket Party Custom
Party Rental Business - Bouncing on Cash
I can honestly say that I did not get into the party rental business just for the cash, however I was fully aware of the earning potential of this industry prior to investing. Here is the absolute best reason for owning an inflatable rental business, at the end of the day the equipment is coming home with me. No matter what the customer paid for the daily rental it's just that, a rental.
Now I am now encoraging you to gauge your customers, whatever your local market demands for your services is where you should be. What I would like for you to focus on is how to maximise each and every sale you get. When a customer has decided to rent one of your castles for a day you now have something no other rental company has, their undivided attention. It's obvious that if the customer selected your rental operation then they must consider you worthy of their hard earn dollars. There is nothing wrong with up-selling, or suggestive selling in order to ensure that you have not left any money on the street.
One of the strategies I use in order to make sure that I have provided my customers with a full rental service for their event is to offer package specials. Package specials are great for totally booking out your entire inventory. A customer may have called you for a castle, and you are in the castle business therefore you can service them, but what about a face painter to go with the castle? Let's build the package another way, let's say we take a dozen balloon, the face painter, the castle, and tie it together as a special promotion. Now we have just tapped into the party supply business with the balloons, and at the exact same time we've grabbed a small portion of the children's entertainer market.
The reality is the customer will most likely spend money on those exact forms of entertainment for their party, but the only difference is they did not rent those items and services from you. In the inflatable rental business we have such a unique advantage being that we are most often the first call a customer will make as they begin to plan their party.
One of my favorite customers once said to me "I like to get your part out of the way first, because you always cause the most damage to my wallet"
What he was in fact saying was the castle part of his budget represented the higher ticket item. What I later discovered one day when I was picking up his unit at the end of the party was I may have represented the highest ticket item, but there were four other vendors that serviced this same party. I was in fact leaving about $280 on the street, as a result leaving money available for my competitors to share. I am a very nice guy, but no way am I in business to make sure my competitors are booked out as well.
The are a few services that you can add to your rental operation that will produce some big time revenue if you concentrate on packages. Listed below are a few of the party packages that we have had great sucess with over the years.
1. Castle & Balloons Delivered - This required a helium tank rental and that's it. Being that we were already schedule to deliver the castle it required no additional effort to deliver the balloons. This special would run $149 in my market which is saturated with rental companies.
2. Castle, Balloons, Face Painting - The best part about this special is you can book 5 reservation a day with one team, which means that if you have 10 units you can sell this promotion 10 times. I would normally charge $229, and it only required two teen age girl's to handle the face painting.
3. Castle, Balloon, Face Painting, Cotton Candy - One again if you have 10 units then you can sale this promotion 10 times. I would send a server to handle the cotton candy machine, while the face painter is in action for one hour only. I would normally charge $309 for this promotion.
The main point I am trying to drive home here is do not leave the money available for your competitors, max out the customer's budget with your services. If the customer chooses not to get the other items and only has intrest in the castle, just know that it's not because they did not have the money, you simply failed to give them a reason to spend it. The good news is I will give them the perfect reason to spend it with my rental business if you fail to do so. Do not leave money on the street, because I will pick it up.
Bouncer Boss
Bouncing N Cash
About the Author
Tyronne Jacques is the GM of Sales & Training for www.bouncningncash.com - If you would like to contact Tyronne Jacques directly with your question about the party rental business then please email him at tj@bouncingncash.com.
Bouncing N Cash
1-888-317-7013
www.bouncingncash.com
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