How to make sure every booking is profitable.

‍

This guide will go through the main costs in putting a marquee up. 

Plus instructions on how to use the free profit calculator linked at the bottom of the article.

‍

‍

Gone are the days when companies could pluck out a price from thin air.

Or decide the cost of a job depending on the car that's parked on the customer's drive.

With rising staff, fuel and manufacturing costs it’s now vital that tent rental companies are 100% certain jobs are profitable when quoting.

At the bottom of this article you will find a link to a free costing calculator. 

But first, let's go through the two main costs that will affect your profit margins this season.

‍

Staffing Costs:

In the US, Amazon has announced they are increasing their minimum wage to $18p/hour and McDonald's have announced they will increase their wages to $15p/h.

If tent rental companies wish to compete with other job opportunities surely wage’s will have to increase?

However, take a look at how much small changes to hourly wages affect your margins.

‍

‍

Fuel Costs:

‍

Fuel costs all over the world have increased dramatically and by all accounts, prices are expected to keep rising.

Tent rental companies can easily travel 20,000 miles a year, that's £30k annually x per vehicle.

‍

How to use the calculator

Before you start: 

Fill in the form on the left hand side to access the free tool.

To make a copy click ‘file in the top left' and select ‘make copy’ or ‘download’ to use the tool on excel.

‍

‍

Step 1 - Add the customer's name

Step 2 - Choose the event type

Why is this important? Our reporting tool allows you to quickly see the profit margins per event type.

Step 3 - Add the total booking amount £$

Step 4 - Add no. of set up and take down days.

Why is this important? The no. of days will be (x) by the no. of staff you have working.

Step 5 - Add the average staff cost (per day)

Step 6 - Add the distance from your yard to the site in miles or km

Step 7 - Add the no. of vehicles needed for set up & take down

Why is this important? The no. of set up/take down days will be (x) by the no. of vehicles and distance to the site.

Step 8 - Add sub hire total costs

Step 9 - View the breakdown of costs & profit

Tip: use the margin calculator to find hire prices to achieve higher margins.

‍