Should I buy or rent items for my event is a question that is often asked. You should never rent items if buying is a better option. Rental companies like Rowe Events are here to help when buying is not the right option. There are a number of questions you can ask in order to help determine which is the better option, but be careful not to focus on just one question and answer. Consider the answers to all the questions to determine your buy vs rent answer:
- Do I have the expertise to install the items being rented? For example, tents should often be installed by professionals to help reduce your event liability
- Do I have the staff or volunteers available to install the items? – You often have enough to do putting your event together and don’t need something else to worry about. That is a reason why professionals are hired to handle installation. You should worry about producing the event, not about putting up the draping or laying out the tables and linens. Keep your staff and volunteers focused on producing and fundraising!
- What should my staff or volunteers be doing on event day? – Think about the best use of time. Should they be dealing with your “rental items” or should they be focused on doing their job such as fundraising or selling your products?
- How often will I run this particular event? – If this event will be run just once a year it probably does not make sense to buy the items.
- Could the items be used at another event I am working on? – If the items could be used at multiple events per year then you might have a reason to buy the items!
- Are these items only going to be needed once? – Is this a one time event? If it is, then buying the items probably does not make sense.
- Do I have storage space for the items? – Where will you store the items? Storage space can often be used for better purposes than having something taking up floor space as storage. How much space will you require and what else could you be doing with this space?
- How much will the storage cost vs the cost of renting the items? – Think about cost benefit analysis. Storage can be very expensive and adds to the actual cost of an item. You need to pay for storage 12 months of the year. This means that the actual cost of the items is higher than you think. The cost of storage increases the cost of the item.
- How will I transport the items to and from my event? Do you have the vehicles required to move your items? If not, you will need to rent vehicles and that will not only cost money but you also need to have the people who can drive those vehicles. Do you have staff or volunteers available to help you with that?
- Can I maintain the items? At the end of each event you are almost guaranteed to have to fix something that broke at the event. Do you have the expertise to do that? Do you have the ability? Do you want to spend the money to have to fix something?
Rowe Events probably has everything you need in order to run your event. If we don’t, ask us if we can help you source it.
