I was too busy talking myself hoarse to see other exhibitors but the mood of hirers walking round was one of cautious optimism for the oncoming year.
I think people will always find the money for a wedding marquee but parties may suffer a bit. Expect a lot of late bookings and haggling as people don’t plan too far in advance for financial security reasons and make sure they get value when they do book. Don’t worry if you’re sat there early season and bookings are down on previous years, wait until the end of the season and it’ll probably be surpisingly healthy.
My only concern for hire companies is if you have a lot of equipment on finance. We don’t offer finance on any of our equipment as I think it’s similar to the irresponsible behaviour the bank-lenders went through to put us into this economic mess. When the return from hiring is 50% of the purchase price I just don’t see why you need to spread the costs over 12 months, delaying it using a credit card is fair enough -that way you could be in profit before you’ve even paid for the marquee!
Just my opinion, thousands of businesses are built using finance/overdrafts or loans I just don’t think they’re necessary for a marquee hire business if it’s run well.
With new equipment (new types of lighting for eg) I’d always try to get most or all of the money back on the first booking. Once you’ve got it in stock you can then discount it for future bookings. Often we were asked if we offered different styles of chandeliers, the reply would always be yes but they’re a lot more expensive -so you either get a return on your current chandelier or you get most of the capital for a new style. It’s an easy way to expand your stock and keep track of current trends without forcing people to have the same options again and again.
Thanks for reading
our stand (pagoda & 6mx8m)
customising your marquees