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Procurement Market Intelligence Report

Party Supply Rental
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Party Supply Rental?

What is the average price of Party Supply Rental?

This procurement report includes pricing information to help you purchase Party Supply Rental. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Party Supply Rental been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Party Supply Rental yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Party Supply Rental?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Party Supply Rental with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

The top four suppliers of party supply rental services collectively generate less than 20.0% of market revenue in 2020, reflecting low market concentration encouraged by the market's low barriers to entry. Capital intensity is fairly low and market operators simply need to acquire an inventory of typically inexpensive supplies to... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Portfolio

How many items are in your portfolio?

What categories of items are in your portfolio?

How old are your items on average?

How often does your company acquire new products?

What type of products would you recommend for my purposes?

How does your company determine whether an item is still viable for use?

Experience

How long has your business operated in this market?

For how many events have you handled party supply rental in the past?

Have you provided party supply rental for companies operating in this venue before?

Have you faced problems in delivering items to a venue on time? How did you handle them?

Have you experienced problems with an item breaking during an event? How did you handle them?

Clients

Who are your top clients?

What is the retention rate among your clients?

How diversified is your customer base?

Can you provide references from previous clients?

What market segments are key renters of your firm's items? Do you primarily serve businesses or consumers?

Amidst widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Logistics

How do you handle cancellations?

How far in advance must I place my order?

What type of assistance do you provide for item setup and breakdown?

How do you handle the delivery of equipment? When can I expect my equipment to arrive at the venue?

Do you source materials with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?

Finances

How does your profitability compare with your competitors?

How does your company drive profit when demand is high?

What pricing model do you use for your rental services?

How do you respond to price increases for the products you buy?

What fees does your company charge in addition to the price of the item rental?

Risk

What are the limits on your insurance policies for general liability, workers' compensation and automobiles?

What steps will you take to comply with the item setup guidelines posed by the venue?

What contingency plans do you have available in case of delay or damage to the rented items?

What charges does your company assess if rented items are damaged while in a client's care?

Do you foresee any disruptions in your supply chain that would prevent you from delivering my rented items?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?

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Key elements for every RFP

What should my RFP include?

Project Budget

If one exists, buyers should specify their budget for party supplies.

Buyers should outline payment schedules.

Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.

Selection Criteria

Buyers should evaluate suppliers based on the quality of their inventory.

Buyers should ensure that the provider's products meet their specifications.

Buyers should evaluate suppliers based on their relevant experience.

Buyers should ensure that suppliers are financially stable.

Buyers should request references from current and former clients.

For detailed selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should outline the length of the contract and cancellation policy, if applicable.

Buyers should outline the date when proposals must be submitted.

Buyers should communicate to prospective suppliers when bid awards will be posted.

Buyers should indicate the times at which item setup can begin.

Buyers should indicate the times at which item setup must be complete.

Buyers should indicate the pickup times for supplies after the events concludes.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The party supply rental market claims low supply chain risk across the board, strengthening buyer power by increasing the probability of buyers negotiating prices downward during supplier negotiations. Despite heavy competition in many upstream markets, most of the products and services purchased by suppliers, such as textiles and ceramics, are... Subscribe to learn more.

HIGH

MEDIUM

LOW