Before long, we’ll be heading into busier times once again, and it’s essential that we are prepared. Typically, we have an idea of what colors are going to be strong based on magazines, orders already placed, and social media. Many clients take their cues based on what they see that is popular and order accordingly. And as a rental company, we deal with a lot of caterers who notoriously place last minute orders, so these items will always follow the social trends.
The key to success as a rental company? Keeping inventory clean and on the shelves, ready to be pulled, is essential to ongoing prep.
Other things to bear in mind as you face what will be busier times:
· Do an inventory assessment 60 to 90 days out to ensure availability for reorder?
· Restock current items that were marked lost or damaged with delivery a minimum of 2 weeks prior to season start, to allow for income prior to 30-day due date.
· Determine “hot” items for the new season and be sure of availability of goods. Ask for a hold with right of refusal. (Fabric distributors will often allow a hold on rolled goods with a future ship date. If they are low on stock, they will call and ask for an immediate ship date or ask you to remove the hold.)
· Increase quantities based on prior season out of stocks or sub-rentals.
Personnel and staffing are paramount for event companies. With that, it is important to identify weaknesses in the flow of work based on prior knowledge and enact a plan early.
If phones and order taking were an issue, contact local schools with a hospitality program and ask about candidates for paid intern positions. Bring them in ahead of time to observe, train and get used to your companies’ systems.
If you find that production in the backroom is an issue, ask your current employees for recommendations for part-time or temporary help. Your employees are often the best source of referrals.
If your deliveries are larger during this time, consider hiring ahead for a part-time driver who can start out as a helper on deliveries, which will allow them to learn procedures, clients and routes.
Consider utilizing technology to help communicate with employees. We love using the Crew app. It is an app that allows us to stay in contact with employees individually as well as being able to setup specific groups. It also allows us to post positive and motivational messages and recognize a job well done and assign tasks. We use it to post schedules, look for shift replacements, schedule vacation requests and address any personnel issues before they become a problem.
Training to ensure adherence to standards is key and anything less gives competitors an advantage. Many owners fear that they will not be able to afford the extra sales staff, even if it is an intern, but hiring additional staff should pay for itself in increased orders and decreased wait time for clients getting proposals. Retraining staff to eliminate mistakes of past seasons is also a key factor in increasing customer satisfaction and retention.
We find ourselves in unprecedented times- with many events rescheduled for the fall and winter, and into 2021. Long-term sustainability will be tied directly into how you weather these busier times and the above strategies will help you do just that.
Lisa Krumm Anhaiser, is the founder and President of LBL Event Rentals based in Houston, Texas that has been providing quality linen and event rentals to the area for over 20 years. Lisa is also a graduate of the prestigous Goldman Sachs 10,000 Small Businesses and she enjoys sharing her knowledge with other business owners through educating via one on one consultations and speaking engagements.