Outsourcing is when you have to go out and purchase new product specifically for a client’s needs. Outsourcing can also consist of custom creating an item for their event, either in-house or through a contractor.
There are so many reasons why outsourcing can benefit your rental business! Outsourcing items allows you to get exactly what your client needs. In many cases, your client would rather have you find the product rather than them source it themselves. This is a win-win situation for you because
We’ve outsourced a number of inventory items from new chairs, to backdrops, and even plants for an installation. Outsourcing can
Subleasing means that you are renting an item from another rental company. For example, if you get an order for 500 ghost chairs, but you only have 250, you would need to sublease the remaining 250 in order to complete the order.
We believe that subleasing can be the needle mover that a client needs in order to book. Not every rental company is open to the idea of subleasing, and that’s totally fine! Everyone is allowed to run their business as they wish. With that being said, don’t take it to heart if you reach out to a company who doesn’t participate in subleasing. There are plenty of rental companies who do sublease and will likely want to sublease from you! This is why it’s so important to connect with other rental business owners in your area.
On the other hand, the only time that we would not recommend subleasing is if the client is wanting to sublease an obscene amount of items. Usually, you won’t make a profit from subleasing. We have a rule of thumb that at least 75% of the order should be our own inventory items. Otherwise, it doesn’t make sense for us to do the order!
Overall, both outsourcing and subleasing can be extremely beneficial for your company and also add to your client experience. If you loved this episode, leave us a review on Apple Podcasts or Spotify!
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