Do you want to start a baby shower chair rental business? If YES, here is a complete guide to starting a baby shower chair rental business with NO money and no experience. It might not be too old a trend, but baby showers have come to stay and loads of couples and expectant mothers are embracing this trend and this goes to show that this is indeed a thriving business.
As an aspiring entrepreneur, you should consider starting a baby shower chair rental business if indeed you need a business that won’t take much of your time. One good thing about baby shower chair rental business is that most often than not, your presence may not be needed as long as you have competent team handling the business for you. Besides a good percent of baby showers are done during weekends and if you are lucky to keep a 9 to 5 job that you only work Mondays to Fridays, you can successfully test run a baby shower chair rental business.
The truth is that most of the basic skills needed to effectively run a baby shower chair rental business are some of the soft skills you are likely going to acquire in your work place. The service delivery of a baby shower chair rental business is simple and straight forward especially if you are not involved in other complimentary services within the scope of your business.
Before launching this type of business, it will pay you carry out your market research, economic and cost analysis and of course feasibility studies. If you get things right before launching your baby shower chair rental business, it will not take you long before you break even and start smiling to the bank.
Lastly, before launching your baby shower chair rental ensure that you read this article and you will be well equipped. You can start your baby shower chair rental business from a small town in the United States and if you are consistent and creative, it won’t be too long before your brand becomes nationally recognized.
18 Steps to Starting a Baby Shower Chair Rental Business
Table of Content
- 2. Conduct Market Research and Feasibility Studies
- 3. Decide Which Niche to Concentrate On
- 4. Know Your Major Competitors in the Industry
- 5. Decide Whether to Buy a Franchise or Start from Scratch
- 9. Discuss with an Agent to Know the Best Insurance Policies for You
- 10. Protect your Intellectual Property With Trademark, Copyrights, Patents
- 11. Get the Necessary Professional Certification
- 12. Get the Necessary Legal Documents You Need to Operate
- 13. Raise the Needed Startup Capital
- 14. Choose a Suitable Location for your Business
- 15. Hire Employees for your Technical and Manpower Needs
- 16. Write a Marketing Plan Packed with ideas & Strategies
- 17. Work Out a Reasonable Pricing for your Services & Products
- 18. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
1. Understand the Industry
Baby shower chair rental business is a subset of the party supply rental industry and business owners in this industry 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 shrunk 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 2022. 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.
The Party Supply Rental Industry that baby shower chair rental business is part of, 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 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 (baby shower chair rental businesses inclusive) 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 rental supplies for social and corporate events.
The baby shower chair rental cum party supply rental business will continue to blossom because people will always organized baby showers and other parties hence the need to rent tables, chairs, flatware, linens, centerpieces, stages, tents, canopies, public address system, red carpet, drums, plates, glasses, cutleries and other items. Despite the fact that the industry seems over-saturated, there is still room big enough to accommodate aspiring entrepreneurs who intend opening their own baby shower chair rental business in the United States of America.
Some of the factors that encourage entrepreneurs to start their own baby shower chair rental business could be that the business is a thriving business that is easy to set up and manage with minimal startup capital and manpower.
The baby shower chair rental cum 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 baby shower chair rental business is well – stocked with chairs and of course other party rental items and also well positioned in an environment with the right demography (growing population and young couples), they will sure attract regular clients and their items will be well booked all through the year.
2. Conduct Market Research and Feasibility Studies
- Demographics and Psychographics
The demographic and psychographic composition of those who patronize baby shower chair rental businesses cut across all expectant mothers and couples. In essence, your target market can’t be restricted to just a group of people, but to all potential mothers and parents within your target location and who have the purchasing power.
3. Decide Which Niche to Concentrate On
It is important to state that there is no known niche area when it comes to baby shower chair rental simply because baby shower chair rental is a niche idea within the party supply rental industry. On the other hand, it is important to state that in order to maximize profits in this line of business, some baby shower chair rental company may decide to add one or more of the under listed as part of their business offering;
- 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
The Level of Competition in the Industry
The competitions that exist in the baby shower chair rental line of business goes beyond competitions with other baby shower chair rental businesses within your location; you will be expected to compete with other party supply rental stores that are also into renting out chairs for baby showers. So, it will be right to say the competition in the baby shower chair rental line of business is tough.
The truth is that no matter the level of competition in an industry, if you brand and promote your products or business properly, you will always make headway in the industry. Just ensure that you have standard baby shower chairs and other items for public and private parties and events and you know how to attract and reach out to your target market. Not ignoring the fact that you can also offer incentive such as free decoration and transportation to and fro the venue of the baby shower in order to stay competitive in this industry.
But over and above, there are several baby shower chair rental businesses and party supply rental stores that also rent baby shower chairs scattered all around the United States and even in the same location where you intend starting yours. Besides, there are larger baby shower chair rental stores that determine the trends in the industry and you should be ready to compete with them for customers.
4. Know Your Major Competitors in the Industry
Some brands perform better than others and customers can attest to the fact that these brands are bigger and better preferred. Some of these brands are those that have been in the industry for a long time, while others are best known for how they conduct their businesses and the results they have achieved over the years.
These are some of the leading baby shower chair rental brands in the United States of America and in the globe;
- USA Party Rental Inc
- Aztec Events & Tents
- Celebrate Event & Party Rental
- Classic Party & Equipment Rentals
- USA Inflatables Party Equipment Rental Service
- Ring Party Rentals
- Us to U Party Rentals
- Rental Center USA of Hunterdon, LLC
- Durants Party Rentals
- Taylor Rental of Sebring
- Midwest Rentals Inc
- Jump Us Party Rentals
- Rental Centers USA
- Party Pros USA
- Jump City of Derridder Party Equipment Rental Service
- Perfect Parties USA
- US Tent Rental/Linens by the Sea
- J&N Fun USA Party Rentals
- Cole’s Party Rental
If you are looking towards successfully launching a business and maximizing profits, then you need to ensure that you get your economic and cost analysis right and try as much as possible to adopt best practices in the industry you choose to build a business in.
The baby shower chair rental business is not a Green business as you will come across several baby shower chair rental businesses when you go sourcing for one or when you search through online and offline directories. So, if you are mapping out your economic and cost analysis, you should carry out thorough market survey and costing of what is required to rent a store and the amount needed to purchase baby shower chairs and other party supplies, buy trucks and also the running cost of the business.
Over and above, if you are considering starting a baby shower chair rental business, then your concern should not be limited to the cost of renting a warehouse facility and purchasing the needed baby shower chairs, but also on branding and on how to build a robust clientele base. The truth is that if you are able to build a robust clientele base, you are sure going to maximize profits in the business.
5. Decide Whether to Buy a Franchise or Start from Scratch
If you are looking at commencing a baby shower chair rental business, you would have to start from the very scratch because you can hardly get the franchise of a baby shower chair rental business to buy, if you do, it will be way too expensive. It is a business that is open to all and sundry.
Besides starting a baby shower chair rental business from the scratch is less stressful when compared to other small – scale businesses that usually requires detailed groundwork before launching the business. With a baby shower chair rental business, you should just try as much as possible to secure a warehouse facility that is close to a major road, purchase the needed baby shower chairs and other party supply equipment and then leverage on every marketing tool within your disposal especially the internet to market your business.
Please note that most of the big and successful party supply rentals around started from the scratch and they were able to build a solid business brand. It takes dedication, hard work and determination to achieve business success.
6. Know the Possible Threats and Challenges You Will Face
If you decide to start your own baby shower chair rental business today, one of the major challenges you are likely going to face is the presence of well – established baby shower chair rental businesses, party supply rental stores that are also into renting out chairs and other items used for baby showers. The only way to avoid this challenge is to create your own market.
Some other challenges and threats that you are likely going to face is economic downturn; if the economy is in bad shape, businesses such as baby shower chair rental usually struggle to maintain their old customers or even welcome new customers. unfavorable government policies can also hamper the growth of your baby shower chair rental business. There is nothing you can do as regards these threats and challenges other than to stay positive that things will work well for you.
7. Choose the Most Suitable Legal Entity (LLC, C Corp, S Corp)
When considering starting a baby shower chair rental business, the legal entity you choose will go a long way to determine how big the business can grow.
In most cases than not, most people that are into baby shower chair rental or any other related rental business usually settle for sole proprietorship or at best general partnership. This is so because the average baby shower chair rental business are usually on a small scale servicing just a neighborhood per time.
8. Choose a Catchy Business Name
When it comes to choosing a name for your business, you should be creative because whatever name you choose for your business will go a long way to create a perception of what the business represents. Usually it is the norm for people to follow the trend in the industry they intend operating from when naming their business.
If you are considering starting your own baby shower chair rental business, here are some catchy names that you can choose from;
- Angel Babies® Baby Shower Chair Rental Services, Inc.
- Expectant Mothers™ Baby Shower Chair Rental Service, LLC
- Grace Boston™ Baby Shower Chair Rental Services, Inc.
- Broadway® Party Equipment Rental Service, LLC
- Phil Angela® Party Supply Rental Services, Inc.
- Monica Thomas & Family® Party Supply Rental Services, Inc.
- Santa Fe Community© Baby Shower Chair Rental Services, Inc.
- Tiny Toes™ Baby Shower Chair Rental Service, LLC
- Couples Dream™ Baby Shower Rental Services, Inc.
- Flora McPherson® Baby Shower Rental Service, Inc.
9. Discuss with an Agent to Know the Best Insurance Policies for You
In the United States and in most countries of the world, you can’t operate a business without having some of the basic insurance policy covers that are required by the industry you want to operate from. So, it is important to create a budget for insurance and perhaps consult an insurance broker to guide you in choosing the best and most appropriate insurance policies for your party supply rental business.
Here are some of the basic insurance covers that you should consider purchasing if you want to start your own baby shower chair rental business in the United States of America;
- General insurance
- Health insurance
- Liability insurance
- Workers Compensation
- Overhead expense disability insurance
- Business owner’s policy group insurance
10. Protect your Intellectual Property With Trademark, Copyrights, Patents
If you are considering starting your own baby shower chair rental business, usually you may not have any need to file for intellectual property protection/trademark. This is because the nature of the business makes it possible for you to successful run the business without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties.
11. Get the Necessary Professional Certification
When it comes to baby shower chair rental business, you do not need to have any formal training or special certification before you can be allowed to start the business. All you need is informal training that will expose you to the in and out of baby shower chair rental business.
On the other hand, if you come across any form of certification that can aid you to effectively manage and grow your baby shower chair rental business, then by all means try and pursue such certification.
12. Get the Necessary Legal Documents You Need to Operate
The essence of having the necessary documentation in place before launching a business in the United States of America cannot be overemphasized. It is a fact that you cannot successfully run any business in the United States without the proper documentations. If you do, it won’t be too long before the long hand of the law catches up with you.
These are some of the basic legal documents that you are expected to have in place if you want to legally run your own baby shower chair rental business in the United States of America;
- Certificate of Incorporation
- Business License
- Tax Payer’s ID / Tax Identification Number
- Business Plan
- Copy of license for the warehouse facility and/or a recent inspection report
- Employee Handbook
- Employment Agreement (offer letters)
- Operating Agreement for LLCs
- Insurance Policy
- Company Bylaws
- Memorandum of Understanding (MoU)
- Building License
13. Raise the Needed Startup Capital
Starting a baby shower chair rental business can be cost effective especially if you choose to start on a small scale. Securing a standard and well – positioned warehouse facility, purchasing trucks, baby shower chairs and party items are part of what will consume a large chunk of your startup capital, but if you choose to start the business on a large scale, you would need to go source for fund to finance the business because it is expensive to start a standard large scale baby shower chair rental business.
When it comes to financing a business, one of the first things you should consider is to write a good business plan. If you have a good and workable business plan document in place, you may not have to labor yourself before convincing your bank, investors and your friends to invest in your business.
Here are some of the options you can explore when sourcing for startup capital for your baby shower chair rental business;
- Raising money from personal savings and sale of personal stocks and properties
- Raising money from investors and business partners
- Selling shares to interested investors
- Applying for Loan from your Bank
- Pitching your business idea and applying for business grants and seed funding from donor organizations and angel investors
- Source for soft loans from your family members and your friends
14. Choose a Suitable Location for your Business
When it comes to choosing a location for your baby shower chair rental business, the rule of thumb is that you should be guided by the demand for baby shower chairs and other related party items in the location. Of course, if you are able to secure a central location for your baby shower chair rental business, it will give people easy access to locate your store.
It cannot be overemphasized that the location you chose to open your baby shower chair rental business is key to the success of the business, hence entrepreneurs are willing to rent or lease a facility in a visible location; a location where the demography consists of expectant mothers and couples with the require purchasing power and lifestyle.
Most importantly, before choosing a location for your baby shower chair rental business, ensure that you first conduct a thorough feasibility studies and market survey. The possibility of you coming across similar business that just closed shop in the location you want to open yours can’t be ruled out.
These are some of the key factors that you should consider before choosing a location for your baby shower chair rental business;
- The demography of the location as it relates to the rate at which people give birth
- The demand for baby shower chair rental and other party supply rental equipment in the location
- The frequency at which baby showers and other parties are organized in the location
- Accessibility of the location
- The number of baby shower chair rentals and party supply rental businesses in the location
- The local laws and regulations in the community
- Traffic, parking and security
15. Hire Employees for your Technical and Manpower Needs
On the average, there are no special technologies or equipment needed to run this type of business except for Point of Sales (POS) Machines and software applications. You will also need computers, internet facility, telephone, fax machine and office furniture (chairs, tables, and shelves) amongst others and all these can be gotten as fairly used.
As regards leasing or outright purchase of a warehouse facility, the choice is dependent on your financial standing, but the truth is that to be on the safe side, it is advisable to start off with a short – term rent/lease while test running the business in the location. If things work out as planned, then you go on a long – term lease or outright purchase of the property but if not, then move on and source for other ideal location/facility for such business.
When it comes to hiring employees for a standard baby shower chair rental business, you should make plans to hire a competent Chief Executive Officer (you can occupy this role), Warehouse Manager, Party Supply Rental Manager who can also double as Sales and Marketing Officer and Truck Drivers and Assistants. On the average, you will need a minimum of 3 to 6 key staff members to run a small – scale but standard baby shower chair rental business.
The Service Delivery Process of the Business
When it comes to the business services process of a baby shower chair rental business, the process is simple and straightforward and can be run on autopilot.
Generally, a baby shower chair rental services company lists out the baby shower chairs and other party supplies that they have for rent. When an event organizer or customer approaches them, they agree on the prices of the baby shower chairs and other party equipment to be rented, payment is made, and deposits are also made. The deposit is compulsory because it is used to replace any damaged baby shower chairs and party equipment that was rented.
In most cases, once the payment and deposit are done, the baby shower chair rental company uses their truck to convey the items to the venue of the baby shower or party, and also install and arrange the party equipment. After the party, the rental company will convey the party equipment back to their warehouse.
It is important to state that a baby shower chair rental company may decide to improvise or adopt any business process and structure that will guarantee them efficiency and flexibility; the above stated baby shower chair rental business process is not cast on stone.
16. Write a Marketing Plan Packed with ideas & Strategies
Generally, running a business requires that you should be proactive when it comes to marketing your goods or services. If you choose to launch a baby shower chair rental business, then you must go all out to employ strategies that will help you attract customers or else you will likely struggle with the business.
People and organizations will patronize your baby shower chairs and other party supply equipment from your store if they know that they are going to get the best and of course value for their money.
Your marketing strategy will center on swift delivery, quality, and pricing, and above all excellent customer service. You should ensure that whenever your customers rent baby shower chairs and other party supply equipment from you, they will get quality equipment and excellent service. The truth is that if you are able to put the above stated in place, you won’t struggle to retain your old customers and at the same time win over new customers.
Businesses these days are aware of the power of the internet and which is why they will do all they can to maximize the internet to market their services or products. In other words, a larger percentage of your marketing effort will be directed to internet users; your website will become your number one marketing tool.
These are some of the marketing ideas and strategies that you can adopt for your baby shower chair rental business;
- Introduce your party supply rental store by sending introductory letters alongside your brochure to expectant mothers and couples, potential couples and event planner et al in the neighborhood where your baby shower chair rental store will be located
- Advertise on the internet on blogs and forums and also on social media like Twitter, Facebook, LinkedIn to get your message across
- Create a basic website for your business so as to give your business an online presence
- Directly market your products
- Join local baby shower chair rental cum party supply rental associations for industry trends and tips
- Provide discount days for your customers
- Advertise your business in community based newspapers, local TV and radio stations
- List your business on yellow pages ads (local directories)
- Encourage the use of Word of mouth marketing (referrals)
17. Work Out a Reasonable Pricing for your Services & Products
One key factor that will help you rent out your baby shower chairs and other party supply equipment at rock bottom prices is to purchase your baby shower chairs and other party supply equipment directly from the manufacturers in pretty large quantities. The truth is the higher the quantity of items that you purchase directly from the manufacturers, the cheaper you tend to get them.
Another strategy that will help you rent out your baby shower chairs and other party supply equipment at the right price is to ensure that you cut operational cost to the barest minimum and channel your efforts towards marketing and promoting your brand name. Aside from the fact that this strategy will help you save cost, it will also help you get the right pricing for your products.
You can also try as much as possible to work with independent contractors and marketers; it will help you save cost for paying sales and marketing executives.
18. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
If you are in business and you are not conscious about boosting you brand awareness and communicating your corporate identity, then you should be ready to take on whatever the society portray your business to be.
If your intention of starting a baby shower chair rental business is to grow the business beyond the city where you are going to be operating from to become a national and international brand by opening chains of baby shower chair rental stores and franchising, then you must be ready to spend money on promotion and advertisement of your brand.
No matter the industry you belong to, the truth is that the market is dynamic and it requires consistent brand awareness and brand boosting cum promotion to continue to appeal to your target market. Here are the platforms you can leverage on to boost your brand awareness and create corporate identity for your baby shower chair rental business;
- Place adverts on both print (newspapers and events and lifestyle magazines) and electronic media platforms
- Sponsor relevant community based events
- Leverage on the internet and social media platforms like Instagram, Facebook, Twitter, YouTube, Google + et al to promote your baby shower chair rental business
- Install your billboards in strategic locations all around your city or state
- Engage in roadshows from time to time in targeted neighborhoods to create awareness of your baby shower chair rental business
- Distribute your fliers and handbills in target areas
- List your baby shower chair rental business in local directories/yellow pages
- Advertise your baby shower chair rental business in your official website and employ strategies that will help you pull traffic to the site
- Position your Flexi Banners at strategic positions in the location where your baby shower chair rental business is located.
- Ensure that all your staff members wear your branded shirts and all your vehicles and trucks are well branded with your company logo