Everything you need to help start your own marquee hire, fun food equipment hire or event equipment hire business for free. Useful business advice, help, ideas and tips to get your new business venture started.

START UP AN EVENT EQUIPMENT HIRE BUSINESS

STEP5. EXPANDING - GROWING

Time to expand your event equipment hire business
If you've come back to read this section you're probably considering expanding and growing your event equipment hire business further. Most successful businesses whatever type come to a point where they have to start turning away work due to simply not having enough manpower or hire equipment to go round. Your hire enquiries and leads are probably increasing and you wish that you could hire the same piece of equipment to two customers at once but is it the right time to think about growing and expanding your event or fun food equipment hire business?

Up until now you've been a one man business or working with your partner, bringing in a steady, reliable income from your hire business, your finances are under control and you have built a good profitable, easy to manage event equipment hire business, but at this moment you are torn between the safe, reliable business and the risky entrepreneur urge to expand. Do you stay as a small business or do you take the plunge and grow your equipment hire business further?

Expanding any business is a hard decision to make no matter how confident you are about the availability of future enquiries. With increased expenses, increased borrowing and staff wages to pay, expanding can be a big headache. Hopefully we can give you a few useful pointers and raise some issues that you may not have considered before you take the plunge to expand your event equipment hire business. To continue reading on please use the key points navigation bar.

KEY POINTS

Time to expand
Your bookings are increasing, but is it the right time to think about growing your business?
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Borrowing to grow
Is it possible to expand your event hire business without increasing your borrowing?
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Financial planning Plan your finances before you take the leap and expand your business.
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Diversify
Can you add other types of services to your hire business?
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Employing help
You can't keep doing everything yourself and you will need to employ at some stage.
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