Calculating the cost of delivering marquee hire isn't an exact science. But a yardstick always helps.
Like with any service based business, cost management in marquee hire isequally an important issue. Calculating the cost of delivering marquee hire will keep your pricing and profitability realistic.
There are so many interceding components leading up to the end results of delivering a hire marquee.
Whilst it may not be at the forefront of an end users' mind when calling a local hire provider, rental firm owners, on the other hand must pay attention.
Every contributory service element which adds value to the end result of hiring a marquee must be accounted for in sound business planning.
After all, the resulting profit margin on each job is really only a function of how well costed and priced your operations are. The difference is added onto your bottom-line.
If you are scant with detail in this area, someone, somewhere still pays the cost. Either you'll pay (...in lesser profits than planned), or your customers pay (...in over priced marquee hire projects).
Financial prudence will give you a clean conscious in dealing equitably with clients, but knowing also your operation is self-sustainable. Vague approximations is akin to gambling.
As well-seasoned business consultants, we advise greater diligence for a more deliberate arrival to your long term and short term commercial goals.
A Calculator To Help Every Marquee Hire Contractor With Estimating Cost
*LIMITATION: this is purely for scenario planning and is not to be mistaken for a one-size fits all calculator. Nor is it to be depended on for drafting your own business plan. When making this widget, we had a very small contractor in mind with these numbers. Your own business model and related metrics will apply in place of what we use in the example below. Take a look, see how it handles and feel free to feedback if you like.
The widget below enables you to view typical costs involved in with marquee hire either on a per cost basis or cost category/class.
Whether you are experienced or new to the business we hope you might at the least find the following calculator a novelty, if not a help!
Categorised in: A Guide To Event Business Management
This post was written by selmore