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A Sample Party Rental Business Plan Template

Are you about starting a party rental company? If YES, here is a complete sample party rental business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a party rental business. We also took it further by analyzing and drafting a sample party rental marketing plan template backed up by actionable guerrilla marketing ideas for party rental businesses. So let’s proceed to the business planning section.

Why Start a Party Rental Business?

Starting a party rental business is not as capital intensive as starting a business such as a banquet hall rental business. This is so because all that is required of you is to purchase tables, chairs, flatware, linens, centerpieces, stages, tents, canopies and other items for public and private parties and events.

You will also need a warehouse facility or well secured space to keep your items and also a truck to take them to and fro event venues as requested by your clients. You can decide to rent out the truck or include it as a premium service to those who rent party items from you.

One good thing about party supply rental business is that most often than not, your presence may not be needed as long as you have a competent team handling the business for you. Besides a good percent of events such as wedding ceremonies, parties and most social events et al, are done during weekends and if you are lucky not to keep a 9 to 5 job that you only work Mondays to Fridays, you can successfully test run a party supply rental business.

The truth is that, most of the basic skills needed to effectively run a party supply rental business are some of the soft skills you are likely going to acquire in your work place. Over and above, the service delivery for a party supply rental business is simple and straight forward, especially if they are not involved in other complimentary services within the scope of their business.

So if you have decided to start a party supply rental business, then you should ensure that you carry out feasibility studies and also market survey. This will enable you properly locate the business and then hit the ground running. Business plan is yet another very important business document that you should not take for granted in the bid to launching your own business.

Below is a sample party supply rental business plan template that can help you to successfully write your own with little or no difficulty.

A Sample Party Rental Business Plan Template

  • Business Overview

The party supply rental business are basically involved in renting out tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, drums, plates, glasses, cutleries and other items for public and private parties and events.

In the face of economic recovery, the overall revenue generated in the party supply rental industry shrink slightly in 2011 as businesses and consumers wary of the recent recession held off on event spending. On the other hand, renewed assurance in the economy in successive years has encouraged business and consumers to host events that require products from the Party Supply Rental industry.

Continued economic recoveries will likely aid growth through 2020. So also, with higher personal and corporate income, households and businesses are projected to expand their party budgets, which will allow them to spend more on rentals beyond basic necessities to full-service products et al.

The Party Supply Rental Industry is indeed a large and vibrant industry not only in the United States of America and but also in most countries of the world as long as parties are organized there. Statistics has it that the Tent Rental cum Party Rental industry in the United States of America, is worth about $5 billion, with an estimated growth rate of 2.3 percent between 2011 and 2016.

There are about 9,645 registered and licensed party rental businesses in the United States and they are responsible for employing about 50,470 people. In the United States, only Classic Party Rental Company can boast of having a lion market share in the industry. Despite that, the industry is still very much open for competitions from aspiring investors who would want to launch their own tent rental business.

According to report recently published by IBISWORLD, in the United States, the regions that have the greatest concentration of party supply rental companies are the Southeast, the West, the Great Lakes and the Mid-Atlantic. The distribution of companies is based mainly on the number of households and median income levels by region. Besides, party rental cum tent rental companies tend to locate their business near major metropolitan areas, which generate a steady stream of demand for corporate and social events.

The Southeast region has the greatest concentration of industry establishments, estimated at 31.9 percent of the total in 2015. The Southeast is the most populated region of the United States; therefore, given the high proportion of households, there is a greater demand for tent rental and rental supplies for social events and corporate events.

No doubt the party supply rental industry is indeed a profitable industry to venture in despite the fact that that the entry bar for starting the business is not too difficult to scale through. The truth is that, if a party supply rental business is well – stocked with party rental items and also well positioned in an environment with the right demography, they will sure attract regular clients and their items will be well booked all through the year.

Party Rental Business Plan – Executive Summary

Caroline Packer® Party Rentals, LLC is a standard and licensed party supply rental company that will be based in Carson City – Nevada. We have been able to secure a corner piece property in a centralized and busy location in the heart of the city; a location with the right demography for the kind of business we want to run.

We are a standard party supply rental company that will be involved in renting out tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, drums, plates, glasses, cutleries and other items for public and private parties and events. We will engage in business activities such as wedding rentals, birthday rentals, corporate event rentals, banquets and other event rentals.

Caroline Packer® Party Rentals, LLC is a client-focused and result driven party supply rentals outfit that provides standard and reliable party equipment / items at an affordable fee that won’t in any way put a hole in the pocket of our clients.

We will offer standard and professional services to all to our individual clients, and corporate clients at local, state, national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they rent party items from our organization.

Caroline Packer® Party Rentals, LLC will at all times demonstrates her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Our plan is to position Caroline Packer® Party Rentals, LLC to become the leading brand in the party supply rental industry in the whole of Nevada, and also to be amongst the top 10 party supply rental outfits in the United States of America within the first 10 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Carson City – Nevada is the right place to launch our party supply rental business before spreading to other parts of the United States.

Caroline Packer® Party Rentals, LLC is family business that is owned by Mrs. Caroline Packer and her immediate family members. The organization will be managed by Mrs. Caroline Packer who has over 12 years of hands on experience working at various capacities within the party rental and event planning industry in the United States.  Mrs. Caroline Packer is a graduate of Business Management from the University of Nevada – Las Vegas.

  • Our Product and Services

Caroline Packer® Party Rentals, LLC is going to offer varieties of services within the scope of party supply rental services industry in the United States of America. Our intention of starting our party supply rental company is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.

Our business offering are listed below;

  • Party supply rental (tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, drums, plates, glasses, cutleries and other items for public and private parties and events)
  • Corporate party and banquet equipment rental
  • Wedding supply rental
  • Birthday rentals
  • Corporate event rentals
  • BBQ party rentals
  • Outdoors party rentals
  • Other event rentals

Our Vision Statement

Our vision is to build a party supply rental business – brand that will become the number one choice for both individual clients and corporate clients in the whole of Carson City – Nevada. Our vision reflects our values: integrity, service, excellence and teamwork.

  • Our Mission Statement

Our mission as a party supply rental company is to rent out tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, plates, glasses, cutleries and other items for public and private parties and events.

We are going to position the business to become the leading brand in the party supply rental industry in the whole of Carson City – Nevada, and also to be amongst the top 10 party supply rental companies in the United States of America within the first 10 years of fully launching the business.

  • Our Business Structure

Caroline Packer® Party Rentals, LLC is a party supply rental company that intends to start small in Carson City – Nevada, but looks to grow big in order to compete favorably with leading party supply rental companies both in the United States and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class party supply rental business we want to own. This is why we are committed to only hiring the best hands within our area of operations.

At Caroline Packer® Party Rentals, LLC, we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions in our organization;

  • Chief Executive Officer (Owner)
  • Party Supply Rental Manager
  • Admin and HR Manager
  • Marketing and Sales Executive
  • Accountant
  • Customer Services Executive
  • Truck Driver

Roles and Responsibilities

Chief Executive Office:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Party Supply Rental Manager

  • Manages the rental of tents and other party rental equipment (tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, drums, plates, glasses, cutleries and other items for public and private parties and events)
  • Achieves maximum profitability and over-all success by controlling costs and quality of equipment and service.
  • Completes weekly schedules. Schedule employees as necessary to ensure adequate and consistent levels of service.
  • Supervises weekly schedules. Schedule staff as necessary to ensure adequate and consistent levels of service
  • Responsible for party supply rental control policies and completion of necessary forms.
  • Follows proper purchasing and requisitioning procedures.
  • Co-ordinates the general assembling and dismantling of tents, tables, chairs, stage and ensure that they are safely transported to and fro event venues.

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Designs job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Oversees the smooth running of the daily office activities.

Marketing and Sales Executive

  • Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Writes winning proposal documents, negotiate fees and rates in line with company policy
  • Responsible for handling business research, marker surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Documents all customer contact and information
  • Represents the company in strategic meetings
  • Helps to increase sales and growth for the company

Accountant

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for the company
  • Serves as internal auditor for the company

Client Service Executive

  • Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the manager in an effective and timely manner
  • Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

Truck Driver:

  • Responsible for transporting tents, party rental items / equipment, supplies and workers to project site
  • Runs errand for the organization
  • Handles any other duty as assigned by the party supply rental manager.

Party Rental Business Plan – SWOT Analysis

Because of our drive for excellence when it comes to running a standard and world – class party supply rental company, we were able to engage some of the finest business consultants in Carson City – Nevada to look through our business concept and together we were able to critically examine the prospect of the business and to access ourselves to be sure we have what it takes to run a standard and world – class party supply rental business.

In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in Carson City – Nevada. Here is a preview of what we got from the critically conducted SWOT Analysis Caroline Packer® Party Rentals, LLC;

  • Strength:

Notwithstanding the fact that all our party rental items / equipment and tents are of world – class standard and the business is well positioned and well – equipped to meet the 21st century demand of both high profile corporate and individual clients, we have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details as regard setting up party venues. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.

  • Weakness:

As a new party supply rental company, it might take some time for our organization to break into the market and gain acceptance in the already saturated party supply rental industry especially from corporate clients; that is perhaps our major weakness.

  • Opportunities:

The opportunities in the party supply rental industry is massive considering the number of corporate events, weddings, parties and other events that takes places on a daily basis in the United States. As a standard and well – equipped party supply rental company, we are ready to take advantage of any opportunity that comes our way.

  • Threat:

Some of the threats that we may likely face as a party supply rental company operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

Party Rental Business Plan – MARKET ANALYSIS

  • Market Trends

One thing is certain; it is difficult to find a business that is strictly into just party supply rentals. This is so because such a business will find it difficult to maintain its overhead and operational cost or generate enough income needed for business expansion. In recent time, it is common to find party supply rental companies engage in other complimentary services such as event planning services and the likes.

The party supply rental industry is in a continuous state of evolution and as such, ground breaking strategies and ideas that are once highly successful are no longer as productive as they were in time past. Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools.

The trends also extends to increased attention paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning events, and of course increase in demands from event sponsors.

Lastly, aside from excellent customer services, party supply rental companies ensure that they have some of the best and comfortable party rental items they can get even if it means importing them or customizing them. This will enable them to continue to welcome repeated customers on a regular basis.

  • Our Target Market

Even though Caroline Packer® Party Rentals, LLC will initially serve small to medium sized business, from individual clients to well established businesses and corporate clients, but that does not in any way stop us from growing to be able to compete with the leading party supply rental companies in the United States.

As an all – round and world – class party supply rental company, Caroline Packer® Party Rentals, LLC offers a wide range of services hence we are well trained and equipped to services a wide range of clientele base.

Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses.

Below is a list of the people and organizations that we have specifically design our products and services for;

  • Potential Couples / Young Adults
  • Blue Chips Companies
  • Corporate Organizations
  • Religious Organizations
  • Political Parties / Politicians
  • Households / Families
  • The Government (Public Sector)
  • Schools (High Schools, Colleges and Universities)
  • Sport Organizations
  • Entrepreneurs and Start – Ups

Our Competitive Advantage

We know that to be highly competitive in the event party supply rental industry means that your tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, drums, plates, glasses, cutleries and other items for public and private parties and events must be of high standard and your business must be well – positioned and well – equipped, you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference cum improvement and you should be able to meet the expectations of both participants and organizers of events.

Caroline Packer® Party Rentals, LLC might be a new entrant into the party supply rental industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified to run such business; people who have the magic wand to turn a start – up business into a mega business.

Our tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, drums, plates, glasses, cutleries and other items are of world – class standard and the business is well positioned and well – equipped to meet the 21st century demand of both high profile corporate and individual clients. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups party supply rental companies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

Party Rental Business Plan – SALES AND MARKETING STRATEGY

We are mindful of the fact that there is stiffer competition amongst party supply rental companies in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing concerns.

Our sales and marketing team will be recruited based on their vast experience in the party supply rental industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.

We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard party supply rental business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our party supply rental company to become one of the top 10 party supply rental companies in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Carson City – Nevada but also in other cities in the United States of America.

Caroline Packer® Party Rentals, LLC is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our business by sending introductory letters alongside our brochure to corporate organizations, religious organizations, schools, households and key stake holders in Carson City and other cities in Nevada
  • Advertise our business in relevant event related magazines, newspapers, TV stations, and radio station.
  • List our business on yellow pages ads (local directories)
  • Attend relevant international and local expos, seminars, and business fairs et al
  • Create different packages for different category of clients in order to work with their budgets and still deliver quality supply and services to them
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients
  • Join local chambers of commerce and industry with the aim of marketing our business
  • Make use of attractive hand bills to create awareness and also to give direction to our facility
  • Adopt direct mailing coupon marketing approach
  • Position our signage / flexi banners at strategic places in and around Los Angeles – California
  • Create a loyalty plan that will enable us reward our consistent clients especially those that refer clients to us.
  • Engage in road shows within our neighborhood to create awareness for our party supply rental business.

Sources of Income

Caroline Packer® Party Rentals, LLC is established with the aim of maximizing profits in the party supply rental industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients.

Caroline Packer® Party Rentals, LLC will generate income by offering the following party supply rental services for individuals clients and for corporate organizations;

  • Party supply rental (tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, drums, plates, glasses, cutleries and other items for public and private parties and events)
  • Corporate party and banquet equipment rental
  • Wedding supply rental
  • Birthday rentals
  • Corporate event rentals
  • BBQ party rentals
  • Outdoors party rentals
  • Other event rentals.

Sales Forecast

One thing is certain, there would always be parties, indoor and outdoor events in the United States of America and as such the services of party supply rental companies will always be needed. This, we have at the back of our minds always.

We are well positioned to take on the available market in Carson City – Nevada and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Carson City – Nevada to other cities in Nevada and other states in the U.S.

We have been able to critically examine the party supply rental market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Carson City – Nevada.

Below are the sales projection for Caroline Packer® Party Rentals, LLC, it is based on the location of our business and the wide range of party supply items that we will be offering;

  • First Fiscal Year-: $250,000
  • Second Fiscal Year-: $600,000
  • Third Fiscal Year-: $900,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Our Pricing Strategy

Just like in rental and consulting business, hourly billing for rental services is also a long – time tradition in the industry.  However, for some types of rental services, flat fees make more sense because they allow clients to better predict the overall service charges. As a result of this, Caroline Packer® Party Rentals, LLC will charge our clients both flat fee and hourly billing as long as it favors both parties.

At Caroline Packer® Party Rentals, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance.  In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises.

We are aware that there are some clients especially event planning outfits that would need regular party rental items, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

  • Payment Options

The payment policy adopted by Caroline Packer® Party Rentals, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Caroline Packer® Party Rentals, LLC will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards / Point of Sale Machines (POS Machines)
  • Payment via online bank transfer
  • Payment via check
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for the party rental items.

Party Rental Business Plan – Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the event planning and party rental industry by storm which is why we have made provisions for effective publicity and advertisement of our party supply rental company.

Below are the platforms we intend to leverage on to promote and advertise Caroline Packer® Party Rentals, LLC;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events / programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
  • Install our Bill Boards on strategic locations all around Carson City – Nevada
  • Engage in road show from time to time in target neighborhoods
  • Distribute our fliers and handbills in target areas
  • Ensure that all our workers wear our branded shirts and all our vehicles and trucks are well branded with our company’s logo et al.

Party Rental Business Plan – Financial Projections and Costing

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a party supply rental business; it might differ in other countries due to the value of their money.

However, this is what it would cost us to set up Caroline Packer® Party Rentals, LLC in the United of America;

  • The Total Fee for incorporating the Business in the United States of America- $750.
  • The budget for basic insurance policy covers, permits and business license – $2,500
  • The Amount needed to acquire a suitable facility that will accommodate our dismantled tents, trucks and small office facility (Re – Construction of the facility inclusive) – $150,000.
  • The Cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $5,000
  • The Cost of Launching an official Website – $600
  • The cost for the construction of standard tents – $10,000
  • The cost for the purchase of standard party supply items (tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, drums, plates, glasses, cutleries and other items for public and private parties and events) – $50,000
  • The cost for the purchase of a truck – $10,000
  • Budget for paying  at least 4 employees for 2 months plus utility bills – $100,000
  • Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
  • Miscellaneous: $5,000

Going by the report from the market research and feasibility studies conducted, we will need about four hundred and fifty thousand (450,000) U.S. dollars to successfully set – up a medium scale but standard and well – equipped party supply rental business firm in the United States of America.

Generating Funds / Startup Capital for Caroline Packer® Party Rentals, LLC

Caroline Packer® Party Rentals, LLC is a family business that will be owned by Mrs. Caroline Packer and his immediate family members. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

PARTY RENTAL BUSINESS GROWTH: Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Caroline Packer® Party Rentals, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to rental out our party supply items / equipment a little bit lower than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Caroline Packer® Party Rentals, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of All form of Insurance for the Business: Completed
  • Securing a standard facility and reconstruction inclusive: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating part of the start – up capital from the founder: Completed
  • Applications for Loan from our Bankers: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the needed furniture, office equipment, electronic appliances and facility facelift: In progress
  • Purchase of various sizes of standard tents and other party rentals items: Completed
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business (Business PR): In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in the industry: In Progress
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