Big party and event rental companies profiled annually by Special Events magazine say that business has firmed up in 2013, and they expect the same continued--albeit slow--growth in 2014.
Although the go-go days are gone-gone for now, many of the big party rental companies profiled in the latest edition of the annual Special Events "30 Top Rental Companies" list are seeing improved revenue this year over last, and they predict the same pace for 2014. The 16th annual edition of the complete list will be published shortly.
Here's what some have to say:
"Growth has been solid, but slow. Competition remains stiff, and price cutting--particularly from the large national brands--remains an issue. Flexibility and responsiveness will be key to future growth."
Stamford Tent and Event Services
"Even though the economy has required us to work harder for our business, the future growth of our company continues to look positive."
Apres Party and Tent Rentals
"Corporate events have risen dramatically in the last 12 months, including employee-recognition events. Nationally, we’ve seen an increase in coast-to-coast tours promoting product launches and brand promotions. These road tours require unique event coordination and a high-touch service mentality that we strive to provide."
Classic Party Rentals
"We are glad to say we are as busy now as we were before the recession. However, the trend continues to see clients spending very carefully. We have adapted our inventory and team to ensure that we can remain flexible and helpful even if we are getting orders on a Thursday for a Friday delivery. We believe this trend will not end, and the companies that adjust to this will come out on top."
"After several years of tentative economic conditions, we are cautiously optimistic that growth is returning."
Salt Lake City
"The rentals market seems to have begun the slow, steady climb, and we are seeing solid profitable growth. The budgets are still al little tight, but they are returning to respectable levels. As always, we remain focused on profitable growth opportunities and expanding our footprint into more markets."
Event Rental Group
"Corporate spending continues to build and budgets are coming back. Weddings have continued to increase in size and complexity, challenging our crews to create even more unique and customized venues for our clients. We are even more optimistic about growth for 2014 as reservations are outpacing this year already."
"If the U.S. government shuts down in February again for a prolonged period of time, it could have a negative effect on business. Otherwise, I feel like 2014 will be a good year."
"The event industry has definitely demonstrated more traction in 2013 and all indications right now are that this trend should continue. While there hasn’t been a return to the bubble days, we feel the current upward trend in events is built more on fundamental economic strength than in the past."
Stuart Rental Co.
"Events continue to do better than the economy. Events will continue to a show an upswing for the next year. When the economy begins to recover, events will accelerate and again outperform the economy. 'Flat' is still the new 'up!'"
Marquee Event Group
"The trend is to provide many more options. People are demanding a much larger selection in all categories of inventory. Now more than ever, clients want rental items that incorporate the style and themes of their events and will go the extra step to seek out vendors that have just what they are looking for."
A1 Party and Event Rental
"We have experienced an increasing demand for custom work--specially designed structures, custom façades, modular wall panel systems, and custom-printed graphics."
"We are bringing in new items on a more 'request' basis now as opposed to us deciding what to bring in on a seasonal basis. Home interior design and fashion trends are really driving the design of our tabletop and linen inventory."
Peterson Party Center