Do you want to open an exhibition stand? here is a complete guide to starting an exhibition equipment business with no money or experience .
Ok, so we’ve provided you with a detailed example of a trade show booth business plan template. We also took it a step further by analyzing and writing a sample exhibit booth marketing plan backed by actionable guerrilla marketing ideas for exhibit businesses. In this article, we will cover all the requirements for starting a business on an exhibition stand. So put on your entrepreneur hat and let’s move on.
Why start trade show booth equipment?
There are several business opportunities that a budding entrepreneur who still has a paid job can do without being made redundant, and one of those opportunities is the rental of kiosks and equipment.
A good thing about kiosk and equipment rentals is what is most often. Rental of exhibit booth and equipment can take place without your presence, and if you are lucky enough not to work on weekends, you can run this business successfully.
Exhibit booth and equipment rental is the rental of exhibit booths and other related equipment that is used by corporate organizations, governments, groups and individuals who wish to organize or participate in an exhibition.
An exhibition display is a graphic display device for use in an exhibit or exhibit. These can include tabletop displays, banner stands, pop-up displays, flat panels, and other supplies used to populate a booth or temporary booth at an exhibition or convention.
Depending on the scale you want to start, the start-up capital for this type of business can be considered moderate. In fact, you can start your own booth and equipment rental business and then grow it in no time by reinvesting your profits back into the business.
Before starting this type of business, you will be paid to do your due diligence regarding market research, economic and value analysis, and of course feasibility studies. If you’re doing everything right before you start working at the booth and renting equipment, it won’t be long before you get to balance and smile at the bank. You are reading this article and you will be well equipped. You can start your kiosk and equipment rental business in a small town in the United States, and if you’re consistent and creative, it won’t be long before your brand becomes a nationally recognized brand.
Start of work on the exhibition of equipment for the exhibition stand. The Complete Guide
- Industry overview
Rental of exhibition stands and equipment can be classified into both the equipment rental industry and the exhibition and conference planning industry, and exhibition and conference organizers. conferences organize, advertise and manage events such as trade and trade shows, conventions, conferences and meetings. They can also provide staff to manage the facilities where these events take place.
If you watch this industry closely, you will agree that after a period of slow growth and reduced corporate spending that plagues operators in the industry, trade show and event planners will experience improving conditions over the next five years. years. With the increase in domestic travel and the return of corporate profits, more and more people will be returning to trade shows and conventions. However, the growth of online events could limit future growth.
The exhibition and conference planning industry is indeed a large and dynamic industry not only in the United States of America but in most of the developed countries of the world. According to statistics, the exhibition and conference planning industry in the United States of America is valued at around $ 14 billion, with an estimated growth rate of 1.6% between 2012 and 2021.
Currently, around 4,938 commercial transactions have been recorded. Show conference planning companies in the United States and they are responsible for employing approximately 84,001 people. In the United States, The Freeman Companies and Viad Corporation capture the lion’s share of the industry market. The industry remains very open to competition from budding investors who want to open their own exhibition booth and hardware business.
According to a recent report published by IBISWORLD, the exhibition and conference planning industry is in a mature phase of its life cycle. While many cities have invested heavily in convention centers over the past decade, the sector is expected to grow more slowly than the economy as a whole over the past 10 years through 2022.
According to IBISWorld estimates, industry’s contribution to the overall economy measured in industrial value added (IVA) will grow at an annualized rate of 3.1%, slightly higher than the annual GDP growth of 2.0% over the same period. While a higher IVA generally indicates that the industry is in a phase of growth, the exhibition and conference planning industry has recently experienced a period of consolidation.
That’s not to say that the trade show and conference planning industry is oversaturated despite the fact that the entry bar to starting a business is moderate, especially if you’re only at a booth and renting equipment. The truth is, if you are creative and hardworking, you can be successful in creating your own sustainable market. It’s safe to say that the industry is still growing, especially with the emergence of new social media.
Some of the factors that motivate entrepreneurs to open their own kiosks and rent equipment may be that the business is easy to set up, that start-up capital is indeed available, and that operating costs can be kept to a minimum. ; You can set up your own exhibition booth and rent equipment from the comfort of your home. All you need to do is set up an office somewhere in your house and make sure you have a place to display your booths and rental equipment.
Opening of the exhibition stand Equipment Market study and feasibility study
- Demography and psychography
The demographic and psychographic makeup of those in need of exhibition booth services and corporate equipment rental includes individuals, corporations, investors, and business owners, including entrepreneurs who wish to participate in exhibitions, or those who organize exhibitions and trade shows, etc. …
So if you want to define your booth demographics and equipment rental demographics, you need to encompass everything. It should include legal persons, manufacturers, banks, investors, accredited investors, blue chip companies, businessmen and entrepreneurs, start-ups and entrepreneurs inside and out. outside the city you operate in, who can hire your stands and equipment.
List of niche booth equipment ideas you can specialize in
It is important to note that booth and trade show equipment rental is a subset of the equipment rental business and in some cases the trade show and conference planning industry.
The level of competition in the industry
No matter what industry you choose to pitch your tent in, you will always be competing with others who work in the same industry, and the trade show booth and equipment rental are no exception. . The level of competition in the kiosk and equipment rental industry depends primarily on the quality and quantity of kiosks and equipment you rent.
The truth is, no matter how competitive the industry is, if you’ve done your due diligence and market your product or business the right way, you will always be successful in the industry. Just make sure you have a standard, user-friendly salon shoe and other appropriate equipment, and know how to attract and reach your target market.
But apart from that, there are several stands and equipment for the exhibition. Rental businesses are scattered across the United States and even in the same location where you intend to start your own, so if you choose to start your own business in the United States, you are sure to face more competition. rude from other related companies. In addition, there are bigger exhibition stands and rental equipment brands that are setting industry trends and you need to be prepared to compete with them for customers.
List of famous brands in the industry
In all sectors, there are always brands that perform better or are better perceived by customers and the general public than others. Some of these brands are the ones that have been around the industry for a long time, while others are best known for the way they run their business and the results they have achieved over the years.
Here are some of the leading brands of kiosk and equipment rental in the United States of America and around the world;
- Absolute Exposures, Inc.
- Insta USA Inc. exhibitors
- Supplies for exhibitions
- Products Expo Services Inc
- Exhibition Fair International Inc
- Exhibition and sale of groups of stands
- Rental of the Source exhibition
- Exhibitions 2021
- ExpoMarketing Group, LLC
- Emporium trade fair
- American Imagery Exhibition
- Fair trade
- Monster shows
- Orange County skyline display
- Xzibit Group
- Horizon displays
- TradeShowPlus Inc
- TradeShow Display Store, Inc.
- Nimlock Kentucky
If you are looking to successfully start a business and maximize your profits, you need to make sure that you have properly analyzed your economic and value analysis and that you have tried to make the most of the best practices in the industry in which you are deciding. to start a business.
Renting exhibit booths and equipment is no longer considered a green business as you will come across several exhibit booths and equipment rentals when looking for one or when looking for catalogs online and offline.
So, if you are planning your economic analysis, you should conduct a thorough market research and determine the cost of renting a store / warehouse, as well as the amount required to purchase exhibition stands and related equipment, as well as the cost of running a successful business.
If you are considering starting an exhibition stand and renting equipment If you are concerned not only with the cost of renting exhibition stands and associated exhibition equipment, but also with branding and way to build a reliable customer base. The truth is, if you are able to build a solid customer base, you are sure to maximize your business’ profits.
Starting your stand equipment rental business from scratch and purchasing a franchise
If you want to start a trade show booth and rent equipment you will have to start from scratch, as you can hardly buy a franchise on a booth and rent equipment, if you do it will be too expensive.
Plus, starting a business like this is less stressful than other small businesses. With an exhibition stand and equipment rental business, you just have to try to make the storage space as secure as possible next to the main road, acquire the necessary exhibition stands and associated equipment, then use all the marketing tools at your disposal. especially the Internet to promote your business.
Please note that most of the large exhibition booths and equipment rental companies started from scratch and managed to build a strong business brand. Success in business requires dedication, hard work and determination, and of course, you can create your own exhibition booth and your own brand of equipment rental to become a successful brand with businesses and individuals. of your city.
Threats and potential challenges you will face when starting a kiosk equipment rental business
If you decide to start your own kiosk and equipment rental business today, one of the main issues you are likely to face is having well-known kiosks and equipment rental stores, as well. than any other company offering similar services. The only way to avoid this problem is to create your own market.
Some other issues and threats you are likely to face are the economic downturn and unfavorable government policies. With these threats and challenges, there is nothing you can do other than make sure everything is going to be okay with you.
Start of the stand for companies Legal questions
The best legal entity to use for this type of business
When you plan to set up an exhibit booth and rent equipment, the legal entity you choose will go a long way in determining the extent of business development. …
Typically, you have the option of choosing a limited liability company, limited liability company, or sole proprietorship for an exhibit booth and equipment rental store. In general, the sole proprietorship should have been the ideal business structure for a small trade show booth and equipment rental company, especially if you are starting out with a little start-up capital in a small area.
But if your intention is to grow your business and have a network of exhibition booths and equipment rental stores across the United States of America and work with corporate organizations and international corporations, then choosing a sole proprietorship is not an option for you. A limited liability company, LLC, or even a general partnership will do this for you.
LLC training protects you from personal liability. If something is wrong with the business, only the money you invest in the limited liability company is at risk. This is not the case for sole proprietorships and partnerships. Limited liability companies are simpler and more flexible to manage, and you don’t need a board of directors, shareholder meetings or other formal management formalities.
Here are some of the factors to consider before choosing a legal entity for your exhibit booth and equipment rental; limitation of personal liability, ease of transfer, acceptance of new owners and investor expectations and of course taxes.
If you take the time to critically research the different legal entities that will be used for your booth and equipment rental company, with the ability to franchise and open-source networks of exhibition booths and rental stores. hardware across the United States. States of America, you agree that a limited liability company; LLC is the most appropriate. You can start this type of business as a limited liability company (LLC) and in the future turn it into a “C” corporation or an “S” corporation, especially when you plan to go public.
Upgrading to “C” or “S” Corporation will give you the ability to expand your exhibit booth and equipment rental to compete with the major players in the industry; You will be able to receive capital from venture capital firms, you will have a separate tax structure, and you can easily transfer the ownership of the business.
Attractive business name ideas suitable for exhibition stands and equipment rental businesses
When it comes to choosing a name for your business, you have to get creative because whatever name you choose for your business will go a long way in creating a perception of what the business stands for. If you are considering starting your own booth and exhibit rental business, here are some catchy names you can choose from;
- Premium View® Exhibit Booth Equipment Rental, Inc.
- Vision Extra ™, LLC Exhibition Equipment Rental Services
- Trans World ™ Exhibition Equipment Rental Services, Inc.
- Broadway® Trade Show Rental Services, LLC Exhibit Booth Equipment
- TDK Group® Exhibition booth equipment rental services incl.
- J Linux® Exhibition booth equipment rental services incl.
- Real Media © Exhibition Booth Equipment Rental Services, Inc.
- Exhibit Booth Equipment Rental Organizer ™, LLC
- Hedgers ™, Inc. Exhibition Booth Rental Services
- Show Screen®, Inc.
in the United States and most countries around the world, you can’t do business without some of the basic insurance policies required by the industry you want to work in. Therefore, it is important to budget for insurance and perhaps consult an insurance broker to help you choose the most appropriate insurance policies for your booth and equipment rental company.
Here are some of the basic insurance policies to consider when buying if you want to set up your own exhibit booth and rent equipment in the United States of America;
- General insurance
- health insurance
- liability insurance
- workers compensation
- provident insurance
- group insurance for business owners
- payment protection insurance
Protection of intellectual property / registered trademark
If you plan to open your own exhibition booth and rent equipment, you may not generally need to apply for IP / Trademark protection. This is because the nature of the business allows you to run it successfully without having any reason to challenge anyone in court for illegal use of your business’s intellectual property.
But if you just want to protect your company logo and other documents or software of your own, or even jingles and multimedia production concepts, you can apply for intellectual property protection. If you want to register your trademark, you must begin the process by filing an application with the USPTO.
Do i need professional certification to run a booth equipment business?
When it comes to kiosk and equipment rental, you don’t need to take any formal training or special certification before you can get started in kiosk and equipment rental. All you need is some informal training that introduces you to the kiosk and equipment rental business.
On the other hand, if you come across some form of certification that can help you manage and grow efficiently, then if you have a booth and equipment rental business, be sure to try that certification.
List of legal documents required to run a kiosk and equipment rental business
The essence of having the necessary documentation before starting a business in the United States of America cannot be overstated. It is a fact that you cannot conduct business successfully in the United States without proper documentation. If you do, it won’t be long before the long arm of the law catches up with you.
Here are some of the basic legal documents you need to have in place if you want to legally operate your own booth and lease equipment in the United States of America;
- Registration certificate
- Business license
- Tax identification number / Tax identification number
- Business plan
- Copy of warehouse license and / or recent inspection report
- Employee Handbook
- Employment contract (letters with proposals)
- Operating Agreement for LLC
- Insurance policy
- Contract documents
- Company charter
- Memorandum of Understanding (MoU)
- Construction license
Financing your kiosk and equipment rental business
Opening a booth and renting equipment can be profitable, especially if you decide to start small. Securing a standard, well-located warehouse, purchasing booths for trade shows and other relevant trade shows and equipment for trade shows are some of what will require a significant portion. of your start-up capital, but if you decide to start a large-scale business, you will need to find a source of funding to fund the business as it is expensive to start a large-scale salon and standard equipment rental business with the ability to provide blue chips and multinational citizens with the required exhibition stands and associated equipment. p86>
When it comes to financing a business, one of the main factors to consider is writing a good business plan. If you have a good, viable business plan document, you may not have to work on your own before convincing your bank, investors, and friends to invest in your business.
Here are some options you can use when looking for seed capital for your booth and rental equipment;
- Collect money from personal savings and sell personal stocks and real estate
- Raise funds from investors and business partners
- Sale of shares to interested investors
- Apply for a loan from your bank
- Introducing your business idea and applying for business grants and seed funding from donor organizations and angel investors
- Source of concessional loans from family and friends
Choose a suitable location for the rental of stands and exhibition equipment
When it comes to choosing a booth location and renting equipment, be guided by the demand for booths and related equipment. Of course, if you can manage to find a central location for your booth and equipment rental store, it will give people easy access to find your store.
It cannot be overstated that the location you have chosen to open your business in the area of exhibition booth and equipment rental is the key to business success, so entrepreneurs are ready to rent or rent an object in a visible location; a place where the demographics are made up of people and organizations with the necessary purchasing power and business impact.
Most importantly, before deciding on the location of your booth and equipment rental store, be sure to do a thorough feasibility study and market review first. It cannot be excluded that you will come across a similar business that will simply close the store in the place where you want to open yours.
Here are some of the key factors to consider before choosing a location for your booth and equipment rental store;
- location demographics
- Request for rental of exhibition stand and equipment at this location
- frequency of trade shows as well as exhibitions / trade fairs
- location availability
- Number of exhibition stands and equipment rental companies, as well as any other related companies on the site
- Local laws and regulations in the community
- Traffic, parking and security
Creation of a company on a professional equipment stand Technical and operational information
On average, no special technology or equipment is needed to run this type of business except point of sale (POS), sh elves, and software applications. You will also need computers / laptops, internet, telephone, fax, and office furniture, all of which can be used fairly.
When it comes to renting or buying outright storage space the choice depends on your financial situation, but the truth is, to be on the safe side it is advisable to start with a short term lease / lease. during the on-site commercial trial period. If everything works as expected then you are taking a long term lease or a full purchase of real estate, but if not go look for another ideal location / object for such a business.
When it comes to hiring employees for standard exhibition booths and equipment rentals, you should plan to hire a knowledgeable CEO (you can fill this role), warehouse manager / administrator and a human resources manager, a rental manager, a sales and marketing manager, accounting manager. Accounting clerks, technicians / operators and truck drivers. On average, you will need at least 3 to 6 key employees to run a standard small business selling exhibition booths and renting equipment.
Business Service Process Attending Exhibit Booths and Equipment Rental Business
As for the process of providing trade services on an exhibition stand and equipment rental, the process is simple and straightforward and can be done on autopilot.
Typically, a kiosk and equipment rental company will list the types and capacities of kiosks and related equipment that they have rented. When the show organizer or client approaches, they agree on the prices for the booths and equipment to rent. payment and deposit.
A deposit is required as it is used to replace any damaged equipment. In most cases, after payment and deposit is complete, the show’s booth and equipment rental company will use their truck to deliver the booths and materials to the show or trade show venue, as well as to set up and organize stands and materials. At the end of the show, the lessor will return the stands and equipment to its warehouse.
It is important to clarify that the booth and equipment rental store may decide to improvise or adopt any business process and structure. this guarantees them efficiency and flexibility; The above-mentioned exhibition booth rental and equipment rental business process is not set in stone.
Launch of a company to equip an exhibition stand. Marketing plan
- Marketing ideas and strategies
Running a business requires being proactive in marketing your products or services. If you do decide to open a booth and hire equipment, you need to make every effort to use strategies that will help you attract customers, otherwise you will be more likely to fight the business as there are well known brands. which determine the direction of the market. for the exhibition stand and equipment rental management
In fact, your marketing strategy will focus on fast delivery and installation, quality, price and, most importantly, excellent customer service. You need to make sure that every time your clients rent booths and exhibition equipment from you, they receive quality equipment and excellent service. The truth is, if you can apply the above on the spot, you won’t have a hard time keeping your old customers and gaining new customers at the same time.
Nowadays, businesses are realizing the power of the Internet and that is why they will do their best to maximize the Internet to promote their services or products. In other words, a greater percentage of your marketing efforts will go to internet users.
Here are some ideas and marketing strategies you can use for your booth and equipment rental business;
- Showcase your booth and equipment rental store by submitting general information. letters with your brochure to corporate organizations, manufacturers, banks, investors, accredited investors, blue chip companies, businessmen and entrepreneurs, start-ups and entrepreneurs in and around the city, where your exhibition stand and your rental point will be located equipment.
- Advertise online on blogs and forums, as well as social media such as Twitter, Facebook, LinkedIn to get your point across.
- Create a basic website for your business to secure your online business. presence
- Direct marketing of your products
- Join local party equipment rental associations to learn about industry trends and advice
- Specify the discount days for your customers
- Advertise your business in community newspapers, here are TV channels and radio stations
- put your business information on yellow pages (in local directories)
- encourage the use of word of mouth marketing (referrals)
Strategies to improve your exhibition stand Brand awareness and corporate identity technique
If you’re in business and don’t know how to build brand awareness and communicate your business identity, you need to be prepared to take on the company your business represents. One of the secrets of great companies is that they are willing to spend a fortune to develop their brand and convey their corporate identity the way they want people to see it.
If you are going to launch a booth and equipment for an exhibition The rental business is the development of a business outside the city from which you will be working to become a national and international brand by opening a network of exhibition booths. exposure and rental equipment and franchise points, then you should be prepared to spend the money to promote and promote your brand.
No matter what industry you belong to, the truth is that the market is dynamic and requires constant brand awareness and promotion to continue to attract your target market. Here are the platforms you can use to build brand awareness and build a branded brand. style for your booth and equipment rental store;
- Place advertisements in print publications (newspapers and events, as well as business magazines) and electronic media platforms
- sponsor relevant social events
- use on the Internet and social networks such as; Instagram, Facebook, Twitter, YouTube, Google +, etc. To promote your stand and rent equipment.
- Install billboards in strategic locations in the city or state
- Take part in occasional road shows in targeted neighborhoods to find out more about your booth and equipment rental store.
- Distribute leaflets and flyers to targeted areas.
- List your trade show booth and equipment rental business in local directories / yellow pages
- Advertise your booth and equipment rental store on your official website and apply strategies that will help drive traffic to your site
- Place the Flexi banners in strategic positions where your stand and equipment rental are located
- Make sure all your employees are wearing your branded shirts and all your vehicles and trucks / vans are properly branded with your company logo