Growing Your Party Rental Business

Marketing a party rental business can seem difficult at times. Most companies try the yellow pages first. But my marketing program is a bit different. Over 75% of my marketing is done with a newsletter.

I am always amazed when people tell me they don't think a newsletter will work well for them. Why not? You are an expert on entertainment....don't you think people could use your help?

Setting up a newsletter is fairly easy. You'll need a newsletter service with an autoresponder. I use Intellicontact for mine. It's very easy to set up a form for sign ups on your website.. Sometimes it helps to offer an incentive. A free party drawing is a great way to get people to sign up for your newsletter. Just make sure that if you do this, follow through and actually give away a party. That's just one more story for your newsletter.

I actually do two different sets of writings. When people sign up for my pricelist they get a series of preplanned emails that tell all about our business. I write these one time. You can write a year's worth of short letters if you want. They go out at a preplanned time to the customer. Then, you have your actual newsletter. I usually do my rental news about once a month although you might choose to do one more frequently. Decide what your goal is when a customer subscribes to your letter. Is it a quick sale? A possible customer who will tell others about you? A great rental? Probably your goal will be all of the above. And you can achieve the goal easily if you do the right type of letter.

Keep your letter informative. Offer information beneficial to the customer. You might offer theme party ideas, decorating ideas or tips on specialized parties. BUT, in addition to tips, you want to drive the customer to your website or get them thinking about doing business with you. AND you want some quick sales from your newsletter.

Here's a format that might work: Write a generic letter listing some entertainment ideas for different types of events. Change events for each newsletter so there's always something to look forward to. Include games, recipes or anything else your readers might enjoy. Include some links to affiliate products you sell...books on planning parties, decorating websites, kids games. And finally, focus a couple of paragraphs on specific items that you offer that might be beneficial to your customers.

Every time you talk to a prospective client, make sure you ask permission to add their email to your newsletter list. I add about 20 a week to mine...and you'd better believe it's a great way to promote your business!

How To Start A Party Rental Company

I’m sure you’ve seen moonbounces at various parties & events. Perhaps you’ve even rented one. But have you ever thought about the financial windfall that can come with owning a couple of the units?

Moonbounces rent for anywhere from $85.00/day on the west coast to $250.00 & up in other parts of the country. Here in Indianapolis, we rent ours for around $225.00 for four to six hours. So…if you charge $150.00 for your rental, you can make an extra $300.00 per week in income.

Of course, there are some expenses that come with the rental. You’ll need a truck or a small trailer. A good dolly, extension cords, business cards, insurance and other small business items. Most people who start up a rental company do the deliveries and bookings themselves. That’s the joy of it. You work when you want to….not when you’re told to. On the other hand…the downside is that if you want the income you might as well accept that it’s going to be there on the weekend and that’s when you’ll be working.

The most expensive part of inflatables is the insurance. Insurance tends to get cheaper as you insure more units but the start up can be a bit tough. The average moonbounce costs around $1500.00 with the insurance running another $750.00. So…you can start up with one bounce for around $2500.00. At a rental rate of $150.00 you’ll have your expenses and covered in less than twenty rentals. Of course…if you charge what we do, you’re unit & costs will be paid for in about ten to twelve rentals.

Moonbounces aren’t the only thing you can rent. We started five years ago with two moonbounces and now have over fifty interactive games. Jousts, Giant Slides, Obstacle courses, video games, casino equipment and fun foods. So, as you can see the business will grow as large as you want it to. About the only way to fail is to purchase the equipment and leave it in your garage. Inflatable moonbounces and other inflatables are their own best advertisement.

To get going on your new business you just need to follow these simple steps.

1) Talk to your state and local boards to find out what is necessary to open your own inflatable rental business. Some states have restrictions on what you can do.

2) Start talking to suppliers. Search the web for “moonbounce” or “interactive games”

3) Ask the suppliers to give you insurance info. Do NOT make a purchase until you’ve secured insurance.

4) Once you have insurance locked up, place your order.

5) While you’re waiting for your equipment, get some fliers made up, business cards and a dedicated phone number. Tell EVERYONE about your new business.

6) Although you’re starting to advertise, it’s not recommended to book your units before they arrive. That’s just asking for trouble.

7) As soon as your equipment arrives, inspect it for damage before the delivery truck leaves. Make sure it’s all there (most units are sold with a blower).

8) Blow up your equipment and get familiar with it. Sit it in your yard or a friends yard and let the kids play. The more it’s seen the more people will want it.

Pretty simple, isn’t it? Of course I just touched on the steps but it’s not much more complicated than that. If you join the Party Rental Industry you’ll be sharing fun with everyone. And that’s a great way to make an income.

How to Save Stress by Using a Party Rental Company in Indiana

When you're planning an event the details can often be overwhelming. Do you need a DJ? Magician for the kids? How about moonbounces, inflatable games or other entertainment?

These questions and others can be answered easily by calling a Party Rental Company. Now, there is a difference between a party rental company and a party planner. Most of the time a party planner is a specialized agent that will help you plan all the details of your event. And many times party planners have their own contacts in the party rental world.

But, although a party planner can really ease the stress of planning a larger event, (and we highly recommend you use one) they aren't always necessary for smaller parties. Many people that plan their own events have a fairly good idea of what they want, they just aren't sure where to get it.

Calling a Party Rental Company can not only save some work, it also enables you to learn about new and unique rental items on the marketplace. Items like wax hands, bear stuffing machines and of course all the great inflatable games.

Perhaps you're planning a block party. You've planned the food and drinks for the cookout, but you need something fun for the kids. One simple phone call can take care of all the unique items.

Your simple party can easily become a blockbuster event. Just add a moonbounce or water slide, some cotton candy and a margarita machine and you've got a spectacular night planned that everyone will love.

So, remember, the next time you plan your event, don't do it alone. Make that one call and get some great suggestions to add more fun to your special day.

Indiana Party Rental - Water Fun for Summer Events

Remember when you were small and your parents got out the sprinkler on a hot summer day? Not only was it cool and refreshing…but you and your friends had a blast.

Well….we’ve come a long way since the days of the backyard sprinkler. One of our most popular items right now are inflatable water slides. Water slides come in all shapes and sizes. There are slides with pools, without pools, inflatable slip and slides, slides with sprinklers and slides in every theme imaginable.

And are they just for kids? Nope….they’re for ALL ages. And they’re loved by all ages.

When we first bought our inflatable slip and slide we sent it up to a friend’s house for a trial run. Their kids are a little younger than ours and we like to get their thoughts our newer pieces of equipment. We found out after their party that although the kids had a great time, it was the PARENTS who really enjoyed the equipment.

Evidently a slip n slide is a huge amount of fun for parents who are stressed out after a long busy day.

Where can these units be used? Anywhere you have a power supply and water supply. Most units have a continual mist of water running over them at all times so they need to be within 50’ of a water connection and of course, since they’re inflated by a blower, you also need a power supply within 50’.

And water slides are not just for back yard parties. More and more they’re being used for company picnics, summer camps and special events.''So, if you're looking to add a "splash" to a hot summer party....think Water Slide!

Home Buying Tips for Murrieta and Temecula CA Real Estate ?

Buying a Temecula or Murrieta home in a buyer?s market can actually be very challenging for all the exact reasons you might think it will be easy. Remember the goal is to get the best home that meets your goals and represents the best investment for your family. What are some of these buyer market benefits?

- Ultra high supply of home listings - Good ability to negotiate price and terms - High competition between sellers

No matter how you slice it those bullet points are a great thing for buyers, right? Believe it or not this can cause a lot of hesitation and consternation for buyers. How so you ask? Let?s say you find the ideal Temecula home in a wonderful neighborhood on a perfect cul-de-sac street and filled with lots of upgrades. You love the layout but the owners are stuck on price and just two streets away is the exact same floor plan, not as nice of a home in terms of lot and upgrades, and the street isn?t a cul-de-sac but the price is 30k less. And then just another street away is another model match with no upgrades, stained carpet, and priced 15k less.

Now you think how nice it would be to get the first home for less but the seller?s won?t budge and honestly it is priced fair when considering all variables. In fact, since it is a down market, it is lower priced then it has been in years. But were are in a buyer?s market and it is galling to pay 45k more! And witth just an additional 10-15k, you feel like you could rehab the cheapest model match and still have a nice home. So, after a lot of soul searching you make an offer on the lowest model match and figure you will fix it up. By paying 45k less and putting in 10k, you save 35k in theory for the same neighborhood and house just a few streets away.

This sounds like a great idea but the problem is that once you move in, you have a hard cost to you to make repairs versus a simple increased payment. So you get a equity loan or tap your savings and put 10k into the property and get all new carpet, paint, and some tile in the bathrooms. That?s it and you have burned all that cash. You also live there for the average of 3-5 years and have ?elbow grease? projects every weekend. While fun at first, this gets old fast and you are tired of cars buzzing through the street and constantly wish you were on the cul-de-sac. You also feel uncomfortable inviting people over until you get it all ?fixed? and thus are not enjoying the house as much as you planned.

This may sound worst case scenario but I have seen this several times this year alone. The real sad part is 35k (45K ? 10K) more would have cost an average of $210 more a month. Over 5 years that will finally equal the 10k you put into the bargain property and you have had to work every weekend, haven?t enjoyed the house, never invited people over, or even had a weekend BBQ!

Also, no matter what you put into the home, you can never equal the home with the better lot, upgrades, and incredible cul-de-sac street. That could be your kids playing neighborhood basketball safely or your family enjoying a safe block party. After 3 years you have grown tired of worrying each time your kids go out to play due to drive through traffic and decide to sell the house. Guess what? The market is still a tough and people are very picky, looking for that perfect, upgraded, cul-de-sac home you passed on!

This article is an example of a buyer seeing high inventory and pricing deals but losing common sense and thereby making a bad decision. How many times have you seen people get caught up in major sales and buy something they don?t even want because it was such a good deal? This is happening a lot right now and it gets worse if a person waits three years and finds they can?t afford to sell the house at that time. Then they continue to be stuck in a home that they do not like when the could of really enjoyed and been proud of a home they purchased in the first place.

Looking for a diamond in the rough is savvy. But don?t forget your goals amid all the Temecula and Murrieta home listings and price drops. Don?t be disappointed if someone won?t come down in price. Just make sure your Murrieta or Temecula real estate broker does the necessary property research and enables you to discern a fair or even aggressive price for that perfect home.

Regulatory guidance on commercial real estate risk: mind the gap for great guidance on good lending

This article describes the key elements of an interagency guidance issued in December 2006 regarding concentrations in commercial real estate lending and sound risk management practices. The guidance can be used to identify possible gaps in an institution's commercial real estate risk management policies and procedures, as well as practices and processes. The article concludes with some options and reference resources for plugging those gaps.

The German philosopher Georg Wilhelm Hegel advised that order is the first requisite of liberty, and here in the land of liberty, we bankers enjoy considerable order. For the continuing good of the order, on December 12, 2006, the FDIC, OCC, and Federal Reserve published their final guidance on concentrations in commercial real estate. Absent the OTC (1), these agencies have observed that commercial real estate (CRE) concentrations (2) have been rising over the past several years and, in their collective opinion, "have reached levels that could create safety and soundness concerns in the event of a significant downturn." (3)

Small to mid-size institutions have been especially attracted to the profit potential of CRE lending, yet past history has shown the CRE markets rapidly reverse their fortunes during economic downturns. A bank's ability to survive CRE recessions depends on the adequacy of its risk management practices and capital levels (4), but the agencies are concerned that the typical bank with a high CRE concentration may not have the policies and procedures to manage the risk. Consequently, the agencies have issued this latest guidance for helping banks manage their CRE risk. (5)

Concentration Growth and the Final Guidance: Up, Up, and Away

The agencies' concern about CRE concentration stems from exponential growth in CRE relative to risk-based capital among smaller banks in just under three years:

Bank size ($millions) December 31, 2003 September 30, 2006

100-1,000 156% 318%
1,000-10,000 127% 300%

At the same time, surveys of banker practices as well as examination results indicate that high-concentration institutions have relaxed their underwriting standards in response to stiff competition, and many banks lack appropriate policies and procedures to manage the related CRE risk. (6)

CRE concentration criteria. The agencies will employ two ratios and a growth measure "as a screen for identifying institutions with potential CRE concentration risk ... that, if breached by a bank, may invite greater regulatory scrutiny to ensure the bank has in place heightened risk management practices and capital levels." (7)

* Total reported loans for construction, land development, and other land add up to 100% or more of total risk-based capital.

* Total commercial real estate loans meet or exceed 300% of capital.

* Outstanding CRE loans have grown 50% or more over the past three years.

The guidance is aimed at CRE loans for which the cash flow from the real estate is the primary source of repayment, not at loans for which real estate collateral is taken as a secondary source of repayment or through an abundance of caution. Their risk profiles are sensitive to the condition of the market and its drivers--capitalization rates, vacancy rates, rental rates, and so on. They derive 50% or more of their repayment source from third-party, nonaffiliated rental income or from the proceeds of the sale, refinancing, or permanent financing of the property. Therefore, the following loans fall within the parameters of the guidance:

* Land development and construction loans, including one- to four-family residential and commercial construction loans and other land loans.

* Loans secured by multifamily property and nonfarm, nonresidential property where the primary source of repayment is derived from rental income associated with the property.

* Also subject to the guidance are loans to real estate investment trusts (REITs) and unsecured loans to developers if repayment depends on the performance of the CRE market.

Excluded from the guidance are loans secured by nonfarm, nonresidential properties where the primary source of repayment is the cash flow from the ongoing operations and activities conducted by the party, or affiliate of the party, who owns the property. So, the guidance is aimed at 1) borrowing real estate developers and investors (REDI borrowers) and 2) co-REDI borrowers (e.g., the doctor who decides to build, own, and operate a shopping center)--but not at owner-occupied borrowers. (8)

While these new measures have generated considerable debate between bankers and regulators, the guidance is now in place, so bankers must learn to live with it. In fact, the guidance actually provides an opportunity for financial institutions to compare their individual CRE risk management practices with the final guidance, identify any gaps, and then try to plug them.

Hudson crossing party to be held Nov. 1

Comedian Artie Lange is celebrating with The Dermot Company and The Building Investment Trust of the AFL-CIO at the construction site of the developer's new luxury residential building, Hudson Crossing, 400 West 37th St. Lange is famous for his radio, television, comedy club and movie credits, including Dirty Work, The Bachelor, Lost & Found, Mystery Men and TV's The Norm Show and MAD TV.

"The Halfway Party with Artie Lange" will transform the building's basement into a temporary standup comedy club, beginning at 11:30 a.m. on Nov. 1. Every vendor, worker and supplier who has worked on the project is invited. Select others, including investors, are also invited.

Hudson Grossing is located in the heart of the fabulous food shopping corridor of Ninth Avenue. A famous local restaurant; Manganaro's Heros will provide refreshments and lunch, prepared in their kitchen directly across the street.

The $75 million Hudson Crossing is to be a 259-unit rental apartment building whose rental office will open in January of 2003, and whose first occupants will move in starting in April of 2003. In addition to residential apartments and amenities, the building will house 5,300 square feet of ground floor retail space and a 164-space public parking garage at grade and basement levels. Construction began in January 2002.