A Diamond Is Forever … But Rent The Rest
Any business owner operating within the wedding industry should seriously consider, if they haven’t already, taking their business to the next level by jumping into the Sharing Economy. Or even if you’re just thinking about starting your own Rental Business, there hasn’t been a better time to do so than now.
Wedding costs have been increasing at an alarming rate, thanks in part to the number of guests going up (blame social media). The likes of Twitter, Facebook, and Pinterest inflict massive social pressure upon engaged couples to ensure that their own weddings are stunning, at the very least. But budgets haven’t been able to keep up with these demands. So how does one (intelligently) cut costs, without cutting the guest list? RENTING – simple, effective and a whole lot easier to tackle than being defriended by all those people who one would have had to NOT invite, because one couldn’t afford to.
People are spending less … and differently
Women today still want to look like a Princess on their special day, but don’t want to spend an arm and a leg for it. Same for the guys when they dawn a tux. Plus, Millennials (the Demographic entering marriageable age) are blessed with the consciousness to protect the environment. They still want the beautiful White Wedding, but they also want it to be Green.
One starts with the most obvious suspect: The Dress.
Why spend a ridiculous amount of $$$$ on something that’s only going to be worn once? Even for a certified fashionista who loves to dress up, the skyrocketing price tags on dresses and gowns just don’t justify the investment, even if one counts it as an impractical indulgence. Plus, with apartments and living spaces getting tinier, there’s not exactly a lot of closet space left over to store that dress either. So, if you’re already a store owner looking to get more mileage out of your inventory, think about renting out outfits instead of just retailing, or even if you don’t have your business set up yet, there hasn’t been a better time to kick start around the renting lifestyle boom.
The Wedding Rental Business isn’t limited to just wedding gowns. Once you get started, the checklist doesn’t stop – votive candle holders, tuxes, table linen, tents, venues, silverware, vehicles for transporting guests, ceremonial items, decoration options by the dozen to suit individual tastes … the list goes on. If these could be accessed in a single place like Ecrent, it would make the rental process a whole lot easier and draw in customers already interested in renting. In addition, a platform like this grants access to
other services, such as: wedding planners, caterers, photographers and entertainers
(live bands & DJ’s). If you’re one of these professionals and want to expand your client list, catering specifically to Weddings by showcasing yourself on online rental portals is a cost effective way to do so.
Keep the customers you have
This sounds simple enough, but for a small business owner, each customer holds greater value than they might with a large corporation. These people are your Gold. Especially in today’s connected world; even one scathing review online can seriously jeopardize your prospects. Catering to your target market should be your main goal. Do some research as to what made your best and happiest customers that way. Was it your low prices? Your wide selection of modern styles? Quality of fabrics? Excellent customer service? Engaging enthusiasm will help you and your customers better understand your business goals. Make an effort to initiate conversation on feedback. Keep your customers in mind each time you implement a new process for your company. Make sure they feel that they can rely on you. The image you present to the public should reflect your core values.
Marketing, Marketing, Marketing
Keeping your old, gold customers and positive reputation is important, but you also need to establish brand recognition for yourself and attract new customers to keep the ball rolling - and growing. Now it’s time to bring in the silver. There are many platforms that rate, review, and suggest different companies within the industry. Email marketing, despite being predicted to decrease, has consistently remained strong. Social media platforms are also gaining traction as being influential in spending decisions.
The wedding business is seasonal, so you will need to market around the same times and places as your competitors. If you’re already in the industry, you know that the peak seasons are June through September; the usual places include bridal fairs and wedding guides in magazines. Exploring these channels is smart, however, don’t limit yourself. Part of what gives some small businesses their competitive edge is that it’s easier to implement creative and cost effective ideas. You can focus your more atypical creative efforts during the off-peak months, such as through blogging about your progress, posting onsocial media, networking , or tweaking your website
The biggest advantage of an online rental store is that you get a ready-made potential client list. The people surfing through sites like these are already gearing up to plan their wedding.
Treat breaks as an investment
Although taking time for yourself may not be an intuitive way to add value to your business, it is a crucial one. Schedule a time, even if it’s just once a week, that allows you to get out of the office. You may meet with other experts in the field, read articles to expand your knowledge about the industry or simply, relax.
Another solution is to outsource certain aspects of your business that are crucial to its success, but where you don’t need to be involved 24/7.
Again, online rental stores on specialized sites like ECrent are ideal. One doesn’t have to spend countless hours (or money) in building and ensuring their website is up to date. With practically zero computer skills, you can have your own rental site up and running within an hour. Plus, it’s fully customizable, so your online store looks just the way you want it to.
One should always consider using technological innovations like this to not just automate one’s business, but to help it to grow efficiently. And you get free exposure, as the rental site already draws in millions of visitors daily.
Keep the fire
Finally, and perhaps most importantly, let your passion show through. Whether you’re already up and running with your rental business, looking to diversify by renting merchandise or just starting out, it takes a lot more personal investment than the average desk job. What really gets you through the hard times is knowing and loving what you do.
Ps – ECrent is running a great end of year promotion on Online Rental Stores. CLICK HERE to open yours today.