Use this free tool to analyses the profitability of your bookings
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.
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 $15p/h.
If tent rental companies wish to compete with other job opportunities surely wage’s will have to increase?
However, take a look at how much small changes to hourly wages affect your margins.
Fuel costs all over the world have increased dramatically and by all accounts, prices are expected to keep rising.
Tent rental companies can easily travel 20,000 miles a year, that's £30k annually x per vehicle.
Before you start:
Fill in the form on the left hand side to access the free tool.
To make a copy click ‘file in the top left' and select ‘make copy’ or ‘download’ to use the tool on excel.
Step 1 - Add the customer's name
Step 2 - Choose the event type
Why is this important? Our reporting tool allows you to quickly see the profit margins per event type.
Step 3 - Add the total booking amount £$
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.
On the Marquee Tech system, we have taken this cost & profit calculator to another level.
Suppliers on the system can find gross margins on every job in less than 30 seconds!
Watch the video below to see how.
If you like to learn more get in touch by clicking here.
By the way, we'd be proud to be your go-to tent rental software and should you decide to give Marquee Tech a go, you can start for free by clicking here.