When I asked florists what they most wanted to learn in the upcoming year, the #1 answer was “pricing”. One of the most frequent pricing questions I’ve received over the years is on rentals; precisely, “How do you charge for rentals?”…..
You’ll find multiple methods for charging for rentals, but here’s how I do it and why! Click to watch:
Rentals can be a smart income stream for your business. If you find that your clients are most-interested in renting vs. buying centerpiece vessels, then offering items for rent is one way to fill a need for your clients.
If you tend to work with clients who want to “own everything” and feel free to give flowers away at the end of the evening or re-use them for brunch, etc., then perhaps you don’t rent as many centerpiece containers, but you have some “other feature pieces” that you can rent over and over again.
It can be difficult to speculate on “what people will want” (for years and years to come….), which is why you want to start with practical rental items. (see below!)
You must consider your storage space as well. For example, if you have to rent a storage unit, do you *really* need the expense involved in storing those rental items?
Start with a few practical rental items:
2 Large fiberglass urns for ceremony/altar,
65-100 Mercury glass votives,
10-12 Lanterns (for centerpieces or to light a pathway),
Signage, table numbers, place card holders,
3-4′ columns or pillars for ceremony arrangements,
Various centerpiece vessels,
Chuppah or arbor structure(s).
Remember: Styles come and go. Don’t go “all-in” with something that’s not particularly versatile!
Pro-tip: Sometimes rentals “walk away”. Make sure you have a clear rental agreement that covers a deposit for damage, loss, etc. Every contract requires a meeting of the minds; make sure your client knows how you will bill for lost or damaged items.
Thanks for taking the time to tune in and watch.
With love from me to you,
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