Parties and functions are happening everywhere all the time around the world. Actually, the number of reasons for partying is one the rise and people just need them desperately to get out of the work pressure. Also, with more and more families moving into the upper ladder of the society in terms of economy, they just don’t think before spending on parties and other entertainment stuff. Hence, we can infer it is feasible to derive a business or a startup idea from the party and entertainment market.
There is a separate industry called event management which makes everything from modeling an event to finishing it in a professional way. The business idea I am going to introduce comes under event management.
Actually, I am going to talk about the party supplies and decoration rental business. It is obvious that parties and even normal functions require a lot of material supplies that vary based on the no. of guests. These supplies are also hard to get at the last time and it is a costly affair if they are going to use only one time.
Hence, this can be turned into a business idea where you can set up an online rental platform for party supplies.
Is Starting a Party Supplies and Decoration Rental Business Is a Good Idea?
People normally plan a party at the last minute and still want everything to be completed perfectly without any flaw. So, an online platform to search and pick the right party supplies would mean a lot to them. This idea is also highly rated when it comes to rental business ideas.
Wedding, birthday, engagement, office, and family functions require more supplies than any other. Since these are occurring large in number, party rental startup would be a great idea. The region of operation is important to plan the business model for this because the type of items rented differs based on the region.
So, be clear about the region you are going to launch this business idea.
Event management services and party rental
Event management is a broad area and some services that come under it are planning and organizing events, getting vendors, hiring professionals like singers & entertainers, etc. There are several event management firms and connectivity between them and people is not very good. Hence an online exposure will be great for them. So, apart from party supplies rental, you shall also include event management listings to broaden the revenue stream.
How to derive revenue out of this startup idea?
There is no scarcity of revenue streams that can be incorporated into this business. Already I have suggested you to go with the rental service combined with event management service. It is recommended to start with this and gradually add a few more services from niche areas like corporate parties, children parties, etc.
Online ads, live promotions, video streaming, etc are some other innovative ways of getting revenue. At the end of the day, it is up to the scope of your creativity to restructure your startup and add new revenue streams.
The revenue from the basic rental startup idea can be in the form of rent and commission. If you list the party supplies of third-parties, then a commission is charged; if you list your own party supplies, then rent is generated. Both models can co-exist and you shall promote your startup as an on-demand rental platform.
What is vital for this startup?
Like any other on-demand service, the app is the most vital part of this startup idea. The app must be crafted in such a way that a customer must slide through it to find party rental items with little effort. Imagine the type of app you need to develop to give such an experience to the customers.
There are two ways to present a complete app:
- One is to develop apps from scratch based on our requirements and desires. This is done by hiring freelancers. Remember, this method may look promising but consumes time and effort which is a luxury for a bootstrapping entrepreneur.
- The second method is to purchase custom-built solutions with all changes made by expert coders, developers, and designers. This way of purchasing from vendors is a tried and tested method.
So, I recommend you to choose the second method. Now let me introduce you to the most preferred vendor for on-demand rental based app solution.
SpotnStay party supplies and decoration rental script
SpotnStay rental script is inspired by Airbnb rental app and many features you saw in SpotnStay are derived from Airbnb to meet the expectations of our clients. Maintaining global standards is also the other reason for having Airbnb as a reference.
That said, we have painstakingly customized the app to suit party supplies rental business ideas. SpotnStay is 100% customizable and any services can be added in between, full source code is available without encryption after purchase, custom logo shall be incorporated and any of our names will not be mentioned, and a comprehensive after-sale assistance is given by our team.
Party supplies rental is a great business idea only if you have quality software for it. And I am sure you can expect an apt software from SpotnStay. I have deliberately avoided going more into the technical part like features and functionalities, so to know more send a message to [email protected]. You will get a quick follow-up right away. Let us team up and launch a niche startup and open a new area!