Expand Your Rental Business with Event Equipment

With the pandemic in our rearview, the outdoor event planning industry is expected to grow almost exponentially in the coming years. In 2020, the sector’s market size stood at $890 billion. By 2029, research indicates it will explode to a stunning $2.1 trillion.

While the increased number and size of events may be a boon for anyone seeking fun and excitement, the implications for peripheral businesses are also significant. The biggest winner could very well be companies that supply event rentals, such as concert barricades and other crowd control equipment.

Event planning operations tend to purchase sound systems and staging in many cases. By the same token, they also employ a common outsourcing model when it comes to other necessities.

For instance, the cost of renting pro-level audio may not fit into an ongoing event planning business’s budget. However, standard event rentals are typically handled as pass-through costs. Savvy rental company owners have an opportunity to get ahead of the curve and build an inventory that supports outdoor events and others right now.

Fast Facts About the U.S. Rental Equipment Niche

The U.S. and North American rental equipment niche has proven lucrative for startups and established outfits alike. Companies continue to find value in short- and long-term rentals over owning, storing, and maintaining a wide range of equipment.

Contractors rank among the top equipment renters, due to inconsistent and spot jobsite needs. For example, portable power generators are essential when construction sites lack access to power lines. Such “as-needed products” are akin to event planners and municipalities reaching out for temporary metal barricades for crowd control.

These trends reflect a growing rental industry. Key points include:

• North America’s equipment market is double the size of the EU’s.
• Nearly 60 percent of party industry revenue stems from event rentals.
• The equipment rental market growth rate is pegged at 4.9 percent through 2025.
• In 2023, there were nearly 100,000 party and event planning businesses in the U.S.

It’s important to note that the number of official event planning organizations does not include municipalities that hold annual community events. These and other fast facts also do not necessarily account for the thousands of local concert promoters who rely on event rentals for their side hustle.

The point is that people in the U.S. love to frequent outdoor concerts, corporate get-togethers, parades and county fairs, and all of these gatherings require specific equipment.

Event Rentals Diversify Inventory & Add Revenue Streams

One of the distinguishing factors of event rentals is they provide more than a one-to-one connection with other businesses. For example, construction companies regularly rent items such as cement mixers, concrete cutting saws, and staging. A rental business owner can easily connect the item to a specific renter. However, event rentals work differently.

When an enterprise stocks popular outdoor event items, the possibilities are endless. Even basic things such as folding chairs have multiple applications. Indoor events such as lectures, birthday parties, and that one-off concert recital at the local library will also need them. That’s the nature of event rentals at large.

A comprehensive inventory draws untapped customers from the event planning sector and others. This type of diversification expands a company’s customer base in unanticipated ways. For startups, stockpiling products typically associated with outdoor gatherings helps grow profits more quickly.

Top Event Rental Equipment to Stockpile

Equipment rental business owners are tasked with making cost-effective decisions when they increase inventories. The conventional wisdom may involve identifying a customer base and then onboarding the rental equipment to support their endeavors. This one-to-one approach is not without its merits. However, investing in event rentals requires a different way of thinking.

The return on investment for event equipment should not necessarily be based on a single customer niche. Although event planners are a primary source of revenue, these items are often needed by many sources. 

Metal Barricades

Metal barricades are a staple for outdoor concerts, providing effective crowd control. They can also be used to separate fans and performers at smaller events. These versatile barriers are commonly used to organize ticket lines, define event perimeters, and separate areas within a venue, such as VIP sections. Their versatility makes them a key tool for effective crowd control and event organization.

Tent Rentals

Building an inventory of tents is another opportunity to reach out and onboard a broader customer base. Wedding planners, for example, consider tents as essential equipment because the weather seldom cooperates. Even when fair weather is expected, guests will need a break from long periods in the sun. Other outdoor events such as concerts, street fairs, and 5K road races typically rent tents to provide a place of shelter for vendors, hydration stations, and artists.

For these reasons, tents are versatile assets that are consistently in demand, helping rental businesses attract and retain a wide range of clients.

Outdoor Lighting

Outdoor lighting rental options have expanded in recent years. These nighttime necessities once required a static power source or generator. The expansion of solar energy innovations has changed the way event planners and others deploy lighting. Portable solar energy lighting towers can be towed into place for concerts, outdoor weddings, and corporate gatherings.

Stage Barriers

Stage barriers, also known as concert barriers, are a crucial tool for effective event security and crowd control. Designed to prevent breaches and crowd surges, they create a safe distance between the stage and the audience, as well as a secure area for crew and security personnel. Meeting industry standards and licensing requirements, these barriers are essential for effective event management.

Enhance your rental service by offering additional features such as carts for easy transport, specialized panels with gates, and integrated cable paths. For companies already renting audio and video equipment, adding stage barriers is a natural extension of your services, especially if you’re already involved in concerts and festivals. 

Quiet Commercial Generators

Commercial generators are widely used in construction, and employers tend to position them far away from workers. The decibels created by powerful generators also call for employees to wear noise-reducing PPE. Fortunately, manufacturers are now making a class of commercial-grade generators with noise reduction in mind.

When a rental operation adds these quiet-running assets to their inventory, it opens the door for use at wide-reaching outdoor events. Applications range from powering tent lighting to audio equipment and everything in between.

Crowd Safety at Events

As outdoor events grow in popularity, the need for effective crowd control and safety solutions increases. Investing in essential equipment like metal barricades, stage barriers, tents, lighting, and generators not only improves the safety of events but also provides rental companies with a valuable opportunity to diversify their offerings and boost revenue.

Metal barricades and stage barriers are key for managing crowds, preventing surges, and creating secure areas for both audience and performers. Tents offer protection from the weather, ensuring comfort for guests. Outdoor lighting provides visibility and safety after dark, while quiet commercial generators maintain power without disturbing the event.

By adding these essential items to your inventory, rental companies can meet the varied requirements of event planners, contributing to smooth-running and safe events. This approach helps you stay competitive and positions your business as a key provider of comprehensive event solutions.

For more insights on stage barriers, festival security, and crowd control strategies, read our article on preventing disruptions at events!