Table and Chair Rental Business Plan
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Executive Summary
Business Overview
Premier Event Supply Company is a startup table and chair rental company located in Charlotte, North Carolina. The company is founded by Trent and Cindy Neicey, who formerly worked for a national party rental company. In that company, Trent was the party rental location manager and Cindy was the bookkeeper and administrative assistant. They both noted the potential for growth within the company, particularly in rentals of chairs and tables because that request was, by far, the one typically made. Their former employer was not able to fulfill the requests because the company did not own enough inventory and couldn’t provide enough to meet the demand.
Premier Event Supply Company will focus on the two aspects of parties and events most requested: tables and chairs. The company will provide a wide variety of chair sizes and styles, along with tables of all sizes and styles. This will allow party planners to come into the store, look through available options and make the choices that support their vision. In addition to the tables and chairs, Premier Event Supply Company will carry a full inventory of tablecloths and table coverings to meet every decor request and will have a full inventory of all sizes on hand for customers with special requests.
Product Offering
The following are the products and services that Premier Event Supply Company will provide:
- Inventory on-hand: hundreds of tables of all sizes and configurations
- Inventory on-hand: hundreds of chairs of all sizes and styles
- Inventory on-hand: tablecloths and chair covers with a full array of colors from which to choose
- Free delivery and pick-up service included for all rental items
- “White glove” service: event set up and take down, as indicated by renter
- Easy website reservation system for all rental items
- Custom sashes and bows for all chair covers, offered free of charge
Customer Focus
Premier Event Supply Company will target all residents in Charlotte. They will target residents and they will target medium to large companies. They will also target wedding parties and wedding planners. Premier Event Supply Company will target event planners and party coordinators. They will also target community and city associations.
Management Team
Premier Event Supply Company will be co-owned and operated by Trent and Cindy Neicey, who formerly worked for a national party rental company. Trent has recruited Jack Nelson from their former employer’s company to the new company to take on the role of Sales Manager. Cindy has recruited the former Human Resources Manager, Janie Rogers, to be the Human Resources Manager in the startup company.
Trent Neicey is a graduate of the University of North Carolina, where he received a bachelor’s degree in Business Administration. Cindy was also a graduate of the University of North Carolina, where she received her degree in Accounting. In their former company, Trent was the party rental location manager and Cindy was the bookkeeper and administrative assistant. They both noted the potential for growth within the company, particularly in rentals of chairs and tables because that request was, by far, the one typically made by customers. Their former employer was not able to fulfill the requests because the company did not own enough inventory and couldn’t provide enough chairs or tables to meet the demand. Often, customers also requested tablecloths or coverings, which the former employer did not provide.
Success Factors
Premier Event Supply Company will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team of Premier Event Supply Company
- Comprehensive menu of products and services and a one-step process to rent any items via the website or in-person.
- Multiple table and chair styles from which customers can choose, with tablecloths and coverings to match.
- Experienced assistance in the selection process for weddings or other formal affairs.
- Free delivery and pick-up service included for all rental items
- “White glove” service: event set up and take down, as indicated by renter
- Easy website reservation system for all rental items
- Custom sashes and bows for all chair covers, offered free of charge
- Premier Event Supply Company offers the best pricing in town. Their pricing structure is the most cost effective when compared to the competition.
Download the Table and Chair Rental business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
Premier Event Supply Company is seeking $200,000 in debt financing to launch its Premier Event Supply Company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the ad campaigns and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph outlines the financial projections for Premier Event Supply Company.
Company Overview
Who is Premier Event Supply Company?
Premier Event Supply Company is a newly established, full-service event supply company in Charlotte, North Carolina. Premier Event Supply Company will be the most reliable, cost-effective, and efficient choice for residents and businesses in Charlotte and the surrounding communities. Premier Event Supply Company will provide a comprehensive menu of tables, chairs, table coverings and services for any individual or company to utilize. Their full-service approach includes a comprehensive array of chair sizes and styles, table sizes and styles, tablecloths and coverings and custom sashes and ties.
Premier Event Supply Company will be able to provide individuals, businesses, event planners and party coordinators with everything needed to seat people efficiently and comfortably. The team of professionals are highly qualified and experienced in party supply rentals and the needs of their customers to create a success. Premier Event Supply Company removes all headaches and issues of searching for and placing chairs and tables at an event and ensures all issues are taken care of expeditiously while delivering the best customer service.
Premier Event Supply Company History
Premier Event Supply Company is a startup company located in Charlotte, North Carolina. The company is co-owned and operated by Trent and Cindy Neicey, who formerly worked for a national party rental company. In that company, Trent was the party rental location manager and Cindy was the bookkeeper and administrative assistant. They both noted the potential for growth within the company, particularly in rentals of chairs and tables because that request was, by far, the one typically made. Their former employer was not able to fulfill the requests because the company did not own enough inventory and couldn’t provide enough to meet the demand.
Since incorporation, Premier Event Supply Company has achieved the following milestones:
- Registered Premier Event Supply Company, LLC to transact business in the state of North Carolina.
- Has a contract in place for a 10,000 square foot office on-site
- Reached out to numerous contacts to include the startup company in their recommendations.
- Began recruiting a staff of six and three office personnel to work at Premier Event Supply Company
Premier Event Supply Company Products
The following will be the products Premier Event Supply Company will provide:
- Inventory on-hand: hundreds of tables of all sizes and configurations
- Inventory on-hand: hundreds of chairs of all sizes and styles
- Inventory on-hand: tablecloths and chair covers with a full array of colors from which to choose
- Free delivery and pick-up service included for all rental items
- “White glove” service: event set up and take down, as indicated by renter
- Easy website reservation system for all rental items
- Custom sashes and bows for all chair covers, offered free of charge
Industry Analysis
The party rental supply industry is expected to grow over the next five years to over $37 billion.
The growth will be driven by increasing amounts spent on events and event rentals
The growth will be driven by advancing technology within the industry
The growth will be driven by the demand for flexibility and ease in supplying chairs and tables
The growth will also be driven by the influence of ecommerce websites that provide a seamless experience
Costs will likely be reduced as inventory management becomes more efficient
Costs will likely be reduced as maintenance and repair continues to evolve to greater efficiency and longer lifespans for furnishings
Costs will likely be reduced as automation and technology plays a larger role in the supply chain of rental items
Download the Table and Chair Rental business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
Premier Event Supply Company will target all residents in Charlotte. They will target residents and they will target medium to large companies. They will also target wedding parties and wedding planners. Premier Event Supply Company will target event planners and party coordinators. They will also target community and city associations.
The precise demographics for Premier Event Supply Company are:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
Premier Event Supply Company will primarily target the following customer profiles:
- Residents within the city of Charlotte and outlying communities
- Medium-to-large businesses in the city
- Party coordinators and event planners
- Community and city associations
Competitive Analysis
Direct and Indirect Competitors
Premier Event Supply Company will face competition from other companies with similar business profiles. A description of each competitor company is below.
Classic Event Rentals
Classic Event Rentals is owned by Nicky Parnell, a former furniture sales manager who started Classic Event Rentals in 2020. The company is a table and chair rental company in Charlotte that caters to weddings, anniversary parties, and birthday parties for all ages, both indoor and outdoor. The focus of the company is on providing large numbers of chairs and tables that are clean and comfortable for groups of all ages. While tablecloths and chair accessories are not provided, the managers of Classic Event Rentals can provide references for customers to obtain them.
In addition to the tables and chairs available, Classic Event Rentals offered inflatable jump houses, inflatable water slides and other items to entertain children. They deliver, set up and take down the inflatables for an extra charge.
Metro Charlotte Furnishings
Metro Charlotte Furnishings is a furniture rental store conveniently located thirty miles away from Charlotte, North Carolina. It is owned by the T. J. Farmer Family. They offer a wide selection of reasonably-priced rental furniture to cater to the needs of individuals, families and small businesses in the communities outside the Charlotte area.
The retail store of Metro Charlotte Furnishings is designed to provide a view of all that is included in the furniture rental experience. Whether for a temporary residence, a home staging project, or a business event, Metro Charlotte Furnishings will strive to meet the budgets and provide the right rentals for the right amount of time needed.
Urban Event Rentals
Urban Event Rentals is a premier table and chair rental company located in downtown Charlotte, NC. As a local provider of high-quality event furniture, they specialize in offering a wide range of tables and chairs that are tailored to meet the unique needs of events and functions held in the vibrant heart of the city.
The mission of their owner, Ted Stinson, is to provide exceptional service and top-notch rental items to event planners, businesses, and individuals hosting events in downtown Charlotte. With a commitment to style, comfort, and reliability, Urban Event Rentals claims that every occasion, from corporate meetings and weddings to social gatherings and fundraisers, is furnished with the utmost care and attention to detail.
Download the Table and Chair Rental business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
Premier Event Supply Company will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly-qualified team of Premier Event Supply Company
- Comprehensive menu of products and services and a one-step process to rent any items via the website or in-person.
- Multiple table and chair styles from which customers can choose, with tablecloths and coverings to match.
- Experienced assistance in the selection process for weddings or other formal affairs.
- Free delivery and pick-up service included for all rental items
- “White glove” service: event set up and take down, as indicated by renter
- Easy website reservation system for all rental items
- Custom sashes and bows for all chair covers, offered free of charge
- Premier Event Supply Company offers the best pricing in town. Their pricing structure is the most cost effective when compared to the competition.
Marketing Plan
Brand & Value Proposition
Premier Event Supply Company will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled employees who are able to provide a comprehensive set of products and services, including tables, chairs, table coverings and delivery/set up/take down services
- White glove service upon request
- Event set up service and take down service upon request
- Online reservation system to secure chairs, tables and coverings with guaranteed availability upon date needed
- Unbeatable pricing to its clients; they will offer the lowest pricing in the city.
Promotions Strategy
The promotions strategy for Premier Event Supply Company is as follows:
Word of Mouth/Referrals
Premier Event Supply Company has built up an extensive list of contacts over the years by providing exceptional service and expertise to their former clients. The contacts and clients will follow them to their new company and help spread the word of Premier Event Supply Company.
Professional Associations and Networking
Premier Event Supply Company will begin attending meetings and networking with individuals and professionals to fully utilize gifts and talents to make this happen.
Print Advertising
Premier Event Supply Company will send a direct mail piece to every resident and business in Charlotte two weeks before launching the company. It will announce the opening date and invite all to rent items at a discount during the first month of business.
Website/SEO Marketing
Premier Event Supply Company will fully utilize their website. The website will be well organized, informative, and list all the products and services that Premier Event Supply Company provides. The website will also list their contact information and provide an online portal for rental reservations. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “table and chair rental company” or “party supplies near me,” Premier Event Supply Company will be listed at the top of the search results.
Pricing
The pricing of Premier Event Supply Company will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.
Operations Plan
The following will be the operations plan for Premier Event Supply Company.
Operation Functions:
- Trent and Cindy Neicey, former employees in a national party rental company, will co-own and operate the company. Trent will take on the role of President and Cindy will take on the role of Accountant.
- Jack Nelson, formerly employed with Trent, will take on the role of Sales Manager.
- Janie Rogers, the former Human Resources Manager, will be the Human Resources Manager in the startup company.
Download the Table and Chair Rental business plan template (including a customizable financial model) to your computer here <–
Milestones:
Premier Event Supply Company will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel employment contracts for the Premier Event Supply Company
- 6/1/202X – Finalize contracts for Premier Event Supply Company suppliers
- 6/15/202X – Begin networking at association events
- 6/22/202X – Begin moving into Premier Event Supply Company office
- 7/1/202X – Premier Event Supply Company opens its doors for business
Management Team
Premier Event Supply Company will be co-owned and operated by Trent and Cindy Neicey, who formerly worked for a national party rental company. Trent has recruited Jack Nelson from their former employer’s company to the new company to take on the role of Sales Manager. Cindy has recruited the former Human Resources Manager, Janie Rogers, to be the Human Resources Manager in the startup company.
Trent Neicey is a graduate of the University of North Carolina, where he received a bachelor’s degree in Business Administration. Cindy was also a graduate of the University of North Carolina, where she received her degree in Accounting. In their former company, Trent was the party rental location manager and Cindy was the bookkeeper and administrative assistant.
Jack Nelson, formerly employed with Trent at their past employer’s firm, will take on the role of Sales Manager in the new company. Jack’s background includes a steady, stable build-up of loyal customers over the five years he was employed at the former company.
Janie Rogers, the former Human Resources Manager, will be the Human Resources Manager in the startup company. Janie is highly-experienced in employee onboarding, processes and procedures for employee manuals and employee oversight, and can assist in conflict negotiation as the need arises.
Financial Plan
Key Revenue & Costs
The revenue drivers for Premier Event Supply Company are the fees they will charge to customers for their products and services.
The cost drivers will be the overhead costs required in order to staff Premier Event Supply Company. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
Premier Event Supply Company is seeking $200,000 in debt financing to launch its table and chair rental company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the ad campaigns and association memberships. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
Download the Table and Chair Rental business plan template (including a customizable financial model) to your computer here <–
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Customers Per Month: 350
- Average Revenue per Month: $23,500
- Office Lease per Year: $100,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Table and Chair Rental Business Plan FAQs
What Is a Table and Chair Rental Business Plan?
A table and chair rental business plan is a plan to start and/or grow your table and chair rental business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
What are the Main Types of Table and Chair Rental Businesses?
There are a number of different kinds of table and chair rental businesses, some examples include: Full-service table and chair rental business, Table and chair rental outlet, Wedding table and chair rental business, and Children’s table and chair rental service.
How Do You Get Funding for Your Table and Chair Rental Business Plan?
Table and Chair Rental businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Table and Chair Rental Business?
Starting a table and chair rental business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Table and Chair Rental Business Plan - The first step in starting a business is to create a detailed table and chair rental business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your table and chair rental business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your table and chair rental business is in compliance with local laws.
3. Register Your Table and Chair Rental Business - Once you have chosen a legal structure, the next step is to register your table and chair rental business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your table and chair rental business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Table and Chair Rental Equipment & Supplies - In order to start your table and chair rental business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your table and chair rental business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.