Do you like planning and organising?
Do you love weddings?
Are you wondering how you can use your planning skills to start making money?
Are you an event planner or have you ever played a role in organising activities for an event?
A wedding rental business is a business that rents dresses, chairs, tables to individuals.
When someone holds a wedding, there are items that they need to have but they can’t get a hold of.
Instead of buying this equipment, they seek out wedding rentals because they will need to use the equipment for the day.
A wedding rental business provides this equipment at a fee.
You stock up the right equipment that is common in weddings and then when the time comes, rent them out to people.
The best idea for you will be to start a wedding rental business.
I love weddings. I have been to more weddings than I can count.
What excites me most about the weddings I’ve attended is the decor, among other things.
Today, everyone is looking to have unique and Instagram worthy weddings.
If you enjoy weddings, the best way to get into the wedding industry is to be a wedding renter.
Is Owning a Wedding Rental Business Profitable?
You are probably wondering whether starting a wedding rental business is a good investment.
Should I really take on this journey?
What are the odds of my success or failure?
Will I make a living out of a wedding rental business?
Questions are a good place to start if you want to outline the feasibility of starting any business.
I’ll tell you this: starting a wedding rental business will probably be the wisest decision to make today.
You not only have high-profit margins, but the demand for wedding rental services keeps skyrocketing every year.
If you love event planning, this is a viable business idea for you because it has high-profit margins and unlimited income potential.
So don’t just sit by and wallow in thoughts. Take the plunge and start your wedding rental business.
How Do I Start a Wedding Rental Business?
Before you start your wedding rental business, you have to decide whether you want to start e-commerce or a physical storefront wedding rental business.
How best do you want to kick off your wedding rental business?
Who are your target customers and where can you find them?
While you may be considering either of the options, always remember it is wise to set up your business online as well, especially in this digital era.
Here is how you can start your wedding rental business.
Do market analysis
Do thorough market research and analysis so that you can get a good head start before you start your wedding rental business.
What is the current situation?
How can I solve the shortcomings of this business?
What are my competitors doing?
What is their pricing model?
Establishing these factors is important if you want to start your wedding rental business on the right trajectory.
Do your due diligence and get all your facts right before you take the plunge and start your business.
Identify your target audience
Following on, you have to know who your target customers are.
Who are they?
What are their wants/needs?
What are their pain points?
Where are they located?
What is their composition?
Are older people getting married more than younger couples?
Knowing who your customers are in-depth is important when you want to choose the equipment that you believe is going to be more desirable to one age group than the other.
Get to know your customers and build a customer base first before you start your wedding rental business.
Pay close attention to what your competitors are doing.
What are their pricing models? Who are their customers?
How do they market themselves?
You could learn a thing or two from them and gain a competitive advantage over them once you start your wedding rental business.
Be careful, however, not to copy what they are doing.
Be unique. Imitation shows a lack of originality.
You want to distinguish your wedding rental business from them as much as possible.
Create an inventory wish list
After you have established all the above factors, it is time for you to make a list of the inventory that you need to get your wedding rental business started.
Your first inventory wish list should include things like tents, a set of tables and chairs.
These are the most sought after equipment by couples to use in their wedding receptions.
Start with inventory that you are sure will be rented out.
Find a supplier
The next thing you want to do is to find a manufacturer or supplier for your wedding rental business.
Do your due diligence on this and select the best supplier or manufacturer whom you believe will attend to your business needs and give you the best top quality inventory.
Some of the best suppliers I can recommend to you are Aliexpress, Alibaba, Oberlo, IndiaMart.
Register your business
Register your business with the local government so that you may operate your wedding rental business when you are in full compliance with the law.
Do not start a business and not register it because you may have to pay heavy fines or have the business shut down altogether.
Get the necessary legal documents you need to start your wedding rental business.
Market your business
You have to promote your business if you want to start having customers seeking your services.
Put yourself out there.
Market yourself and your business.
Use good marketing strategies to help you get to your target audience so that you may start operations.
We will talk about how to market your wedding rental business later in the article.
What Does a Day in the Life of a Wedding Renter Look Like?
Considering the roles and responsibilities you will take on in your wedding rental business these are the main things you will need to take care of.
- Researching wedding equipment
- Coming up with a product idea that meets the needs of your customers
- Getting in touch with a manufacturer or a supplier to get you the necessary equipment for your wedding rental business
- Preparing and setting rental contracts to your clients
- Selling the wedding rentals to customers
- Monitoring and maintaining the rentals during use
- Repairing and replacing the wedding rental equipment
- Advertising and marketing your business
What Do I Need for a Wedding Rental Business?
There are some basic things you need to get you started in your wedding rental business.
You can opt to go for high-end inventory, but here is a list of the most common things you need to start your wedding rental business.
- A set of chairs
- A set of tables
- Sound equipment
- Storage space
- Business license
What are the Expenses for a Wedding Rental Business?
Starting a wedding rental business means that you will come face to face with both initial startup costs and ongoing expenses.
It is important to know what they are so that you do not fall short when making your financial budget for your business.
For your startup expenses, you have:
- Cost of equipment
- Rent for storage space
Your ongoing expenses will include:
- Equipment maintenance and replacement costs
- Rent/storage fees
- Transportation costs
- Employee salary
- Marketing costs
- Cost for a website
- Administrative expenses
How Much Does It Cost to Start a Wedding Rental Business?
A wedding rental business has high startup costs.
This is because you will be buying sets of equipment for your business and you need to have enough capital to do that.
On average, it should cost you a minimum of Ksh.200,000 to get started on your wedding rental business.
How Do I Make Money With a Wedding Rental Business?
If you don’t know how you will be generating income in your wedding rental business, well there are only two clear ways.
- Renting out your equipment. This is the most basic way for you to make money with a wedding rental business. You will buy equipment at wholesale prices and rent them out at a profitable fee.
- Additional charges. You will earn extra income from the renters if the equipment has been damaged while under their care.
How Much Should I Charge as a Wedding Renter Entrepreneur?
The amount of money you will charge your customers will depend on a number of factors.
You have to consider these things if you want to charge a profitable and fair price to your customers.
These are some of the factors you may want to look into before you set the price for your wedding rental services.
- Competition. Look at what other businesses are charging and use their pricing model as the base for you to set yours.
- Your location. What neighbourhood is your business operating in? Is it a posh place? This will dictate if you can charge more from your customers e.g a wedding tent may cost higher in some places and lower in other places.
- The quality of the equipment. Quality equipment is expensive. You need to charge a price that will accumulate overtime at a profit.
- Your revenue goals. When you set your profit goals, do not be too enamored by the idea that you set unfair pricing models to your customers.
You can calculate the value of your equipment and charge your customers a standard fee.
For example, if you buy a tent for Ksh. 20,000 you can rent it at Ksh. 5,000 per weekend for 4 weekends until you start realising a profit.
How Much Money Can I Make as a Wedding Renter?
The amount of money you make from a wedding rental business will depend majorly on how long your equipment is in use and how much you charge for each rental.
Legal Requirements for a Wedding Rental Business
As you start your wedding rental business, you have to look into the necessary permits and licenses that you need to obtain so that you do not land on the wrong side of the law.
You may start your business and it gets shut down because you are not in compliance with the local authorities.
- Certificate of occupancy for your rental space, whether you are leasing it or buying.
- Services contract that outlines the terms and conditions of service before you start your project.
- Business insurance e.g general liability insurance and employee insurance.
What Skillls Do I Need to Start a Wedding Rental Business?
These are some of the skills and qualities that you need to have to start your wedding rental business.
- Organisation skills. Starting a wedding rental business dictates that you should be well organised since you will be handling your customer’s needs. You do not want to mess yourself up and risk tarnishing your brand.
- Communication skills. You should be a good communicator. There is both unwritten and written communication here where you will have to get into an agreement and sign a service contract.
- Interpersonal skills. You should know how to interact with your customers away from business so that you can build meaningful and long lasting relationships with them.
- Problem solving skills. If you have an eye to detail and you can spot issues and provide solutions, a wedding rental business is for you. It will do your renters a great deal of happiness if you can solve any pending issues for them.
- Customer service skills. Your customers should always be well treated. Without them, your business fails to exist. Always strive to ensure your customers have a good experience in your business.
- Design skills. If you have a creative eye, you can use this skill to create visualizations of how you want your projects to come out for your customers.
- Technical skills. You need to have good knowledge of the design software you are going to use in your wedding rental business. You can learn from YouTube tutorials or take a course online.
How To Attract Clients to a Wedding Rental Business
According to what you offer in your wedding rental, your clients may vary.
Your target customers are people who are looking to have weddings.
Your audience is spread out so you need to know how you can attract them as first customers to your wedding rental business.
Here are a few ways.
- Survey customers to determine customers’ needs. Examine the prospective customers that you have and prepare survey questions for them. This will allow you to generate new leads.
- Ask for referrals. Have a referral program, whereby if a customer is satisfied with your wedding rental services, they can recommend someone else to you.
- Use social media. Use the connections you have built online to showcase your wedding rental business. Go to Facebook, Instagram or Twitter and talk about your business and have your business advertisements set up so that people will contact you.
- Business cards. Have a business card with good branding, business details and contact information so that your customers will know how to reach you when they need to rent your wedding equipment or services.
- Create a website. Every good business has a website. Your website should have content about your wedding rental business and you should optimise it so that it appears on top of the lists when someone searches for it on Google.
- Word of mouth. Be the best wedding rental business in town that everyone knows about and within no time, people will start contacting you for your wedding rental services.
- Go to the press. Place your advertisements on TV, that way reaching millions of people.
How Do I Promote My Wedding Rental Business?
Your first customers should not stop you from wanting to expand your customer base and grow your business.
If you want your business to keep on being in operation, you have to have good marketing strategies to tell more people about your wedding rental business.
Here are some ways to do that.
Start bringing in quality equipment for people and build your brand through that. It is easier to get more clients this way.
When people can acknowledge how great your wedding rental business is, they will most definitely tell people who you are and how they can get in touch with you for your services.
Ask for referrals and testimonials to get more clients.
Go online and take your time to optimise your website for SEO and also build content.
Your website will create a first impression on your customers and this will determine if they seek to rent your equipment and your services or not
Leverage the connections you have on social media and use that to talk about your wedding rental business on Facebook and Instagram, share relevant content and create promotions and advertisements to create more sales and leads.
Make your wedding rental business available on sites such as Google or so that people can come online and search for your services easily.
Create a business profile, showcase your equipment and services and ask for customer reviews if you want to make it to these directories.
Connect with industry experts participate in local and community events and meet new people.
You will get more clients and leads in this way.
Advantages of Starting a Wedding Rental Business
These are some of the benefits of starting a wedding rental business.
- Great income potential. A wedding rental business has unlimited income potential. You can earn a lot of money from this business by diversifying the market you serve.
- Meaningful business connections. You will build meaningful business connections when you network with industry experts and attend the community events and meetings.
- Simple business model. Starting a wedding rental business is quite easy because there are not so many things you need to do before you establish your business.
- Greater chance of getting referrals. When a customer is satisfied with your wedding rental equipment and services, they are more likely to recommend someone else to visit your wedding rental business.
- Business flexibility. You can either choose to operate a storefront business or set up an ecommerce store as your wedding rental business.
- Predictable income stream. When you have already created a service contract with your customers, you can tell how much money you expect from your business.
- Building a solid foundation with clients. Creating meaningful relationships with clients is important when you want to build brand loyalty and trust.
Disadvantages of Starting a Wedding Rental Business
These are some of the problems and challenges that you will face with your wedding rental business.
- Time commitment. Just like any other business, you have to sacrifice your time, money and energy into a wedding rental business. You need to create a good work schedule and stick to it if you want to succeed.
- Difficult to scale. It may be difficult to account for the expansivity of your wedding rental business. This is not good especially if you want to scale your business higher.
- Equipment breakdowns. Sometimes your equipment may break down and this leads to losses arising from the equipment not being used. You may also have to incur repair and maintenance costs.
- Challenging to bring passive income. A wedding rental business requires your full involvement and participation in the business, so you may not really be earning while you sleep.
- Longer sales process. To find customers who are actually interested in your wedding rental equipment and services is challenging and you may need to convince them that you are what they are looking for.
How to Run a Successful Wedding Rental Business
It is not enough to just start your business.
As yourself: what next?
What can you do to make sure that your wedding rental becomes successful in your business venture?
These are some of the ways you can start and run a successful wedding rental business and make a good profit.
- Excellent customer service. Excellent customer service is crucial in maintaining good customer relationships and ensuring loyal customers. When your customers are satisfied with your wedding rental business, they will recommend more people to you.
- Delivering quality equipment. Focus on quality equipment that is unique and attractive. You have to have good taste and if you do not, you can hire an expert to help you pick out the best items for your wedding rental business.
- Price for profit. Price your equipment and wedding rental service fairly and you will see more people coming into your business. This way, you get to earn more in profit and your business remains as successful.
What is the Best Location for a Wedding Rental Business?
Location is very important when starting a wedding rental business.
Ask yourself where you want to set up your physical store.
A quiet neighbourhood or a busy town?
Here are some of the factors you want to consider for setting up a physical wedding rental business.
- Traffic. Start your wedding rental business in places that have high foot traffic so that your storefront may advertise the business for itself.
- Demographics. Consider the demographic of the place so that you may know when your target customers are and what it is that they want, before you start your wedding rental business.
- Competition. Target places that have relatively low competition and strive to gain a competitive advantage over these other businesses as you start yours.
- Accessibility. Make your wedding rental business be accessible via main roads and motorways so that pick up and delivery of wedding rental equipment is made easier.
- Growth potential. Before you pick a location for your business, ask yourself if you want to operate the business in the long or short term. This will determine if you stick to a place or not.
- Business rates. Consider these business rates in terms of rent, utility and taxes. If it is affordable, you can start your wedding rental business in that area.
Mistakes to Avoid in a Wedding Rental Business
When you want to start a wedding rental business, there are some things that you should look out for to give you a competitive edge in the industry.
There are some common mistakes that you want to be aware of in your wedding rental business.
I will give you some tips on how to avoid some of these mistakes so that you can run a profitable business.
- Buying the wrong stuff. Do your due diligence on the equipment you want to rent in your wedding rental business. Buy what rents, not what looks cool. You do not want to buy equipment that is just going to sit.
- Lack of advertising and marketing. When you do not channel your time, energy and money into promoting your wedding rental business, you will not get as many clients as you would like to.
- Not having a well written contract. You have to come up with a good service contract if you want to settle any disputes that will arise based on payment, terms and conditions, service level expectations and intellectual property ownership.
- Poor customer service. Your customers must always be satisfied with your business. Make sure your customer’s needs are well taken care of so that your business may continue to exist.
- Going solo. A wedding rental business is going to be a lot of work. You need to hire the best talent to help you in your daily business activities.
Unique Wedding Rental Business Ideas
I will give you some of the best wedding rental business ideas that you can start today.
Remember, when you are starting your wedding rental business, you want to be as unique and as creative. Don’t copy what everyone else is doing. Imitation is a bad game.
Here are some lucrative and unique business ideas you can try today.
- A wedding venue rental business
- A wedding rental car hire service
- Renting music instrument
- A photobooth business
- Renting out wedding gowns and reception dresses
- Wedding accessories rental business
- Selling wedding decoration and supplies
- Renting audio equipment
- Renting classy chairs and tables
- Multimedia projector rental
- Start a wedding blog
FAQs on How to Start a Wedding Rental Business
Is a wedding rental business profitable?
Yes, a wedding rental business is profitable depending on what you rent.
You can rent party supplies, furniture, costume, props, a mini electrical car, cameras and strollers.
How do I start a wedding rental business?
Identify your idea
Take good care of your products
Take your wedding rental business online
Choose software systems
Have a contract with terms and conditions
Pay attention to your customers.
How does the rental business work?
The wedding rental works like this, you purchase inventories, then rent them out to customers at a fee.
Have a rental contract/agreement for how to deal with damages/theft of property.
How much should I charge for rentals?
The amount you charge at your wedding rental depends on what you rent and the condition you expect to get your equipment or tools.
Rent for profit.
What are the most rented wedding equipment?
Wedding decoration lights
Bounce house for kids
Chairs and tables
Indoor dance floor
Live streaming service equipment
Outdoor heaters and fans
Resources Related to Wedding Rental Business
Top 50 Things You Can Rent Today to Make Money in Kenya
How to Start a Tablescape Rental Business
How to Start an Event Decor Rental Business
Starting a Wedding Chair Cover Business
How to Start a Business Designing Wedding Dresses
How to Start a Digital Events Business in Kenya
If you love parties, attending events and people, starting a wedding rental business is the best business idea for you.
People have weddings because weddings are happy moments.
Wedding rental services/party planners services are always in high demand.
A wedding rental thrives on word of mouth.
The best work you do by supplying what’s required on time, then the more people will want your services.
You need to constantly market your wedding rental services.
Remember to reinvest your profit into your business to grow it.
Be patient with your wedding rental business, by learning and growing.
Do you have some chairs, tables or covers to start a wedding rental business with?
Are you wondering if wedding rentals are profitable?
Well, hope this article shows you how to start a wedding rental business in Kenya.
If you rent products to weddings, share how your business is going.