A hiring business is a business that does not require a lot of effort once the items have been delivered but the biggest concern is always growing it to the point of a sustainable business. You can do this two ways: by hiring out high value items (which requires a lot of money to start out to purchase high value items) or by hiring out a few different items to the same venue. The party trio of popcorn, candy floss and slush machines fall into the latter.
You will supply events with machines to make popcorn, candy floss and slush drinks (an icy drink also known as “slush puppies”). The machines are usually rented by the day.
This is a hiring business to the event industry – usually birthday parties – with some extra potential for office parties and other events. Other events to target include: school civilian days, carnivals etc.
Once the machines have been procured, you know have to decide how much to charge per day, and how much of ingredients (popcorn kernels, candy floss sugar, slush syrup) to include with the standard package and how much to charge for extra. The standard will be a set amount of people, let’s say the standard amounts will cater to 50 people, but the party has 100 people then you have to charge extra for more ingredients.
It is advised that you draw up a hiring contract, stipulating the amount per day, extras, as well as take a deposit to cover external damage (this will ensure people look better after your equipment).
You may also have to employ a operator (a student is fine) as some people may not be familiar with how to operate the machines.
While you can hire out the machines separately, you should try to hire out all three or at least two at a time (offer a discount for more than one, as this will ensure more money with less effort to get a new customer). If they want a popcorn machine say you have a slush machine that will help to quench the thirst from the salty popcorn.
These machines are usually rented out by the day but you can rent them out for two or more days as some events are over a weekend (make sure that you mention that customers are responsible for the safety of the machine).
A business model will usually look as the following:
Package: (recommended) All three machines with operator and ingredients for 50 guests (extra guest cost extra)
Machine on its own. No operator (dry hire). With or without ingredients
Hiring businesses can be easily grown by expanding the amount of machines available to hire but you have to remember that machines have a lifespan and may break down, so you have to factor this into your pricing.