Every event planner understands the intense amount of scheduling, budgeting, and organizing that goes into making each occasion perfect. With such a diverse range of events to coordinate in our fast-paced world, the equipment needed for each event can be equally diverse. Whether you’re planning a wedding, concert, fundraiser, or community gathering, you should consider whether purchasing or renting equipment is the best option for you. In this section, we’ll look at some of the key issues and weigh in on the debate between buying vs. renting equipment for your next big event.
Cost-effectiveness
“Which option will save me the most money?” is one of the most common (and obvious) questions every event planner asks themselves before buying or renting. Purchasing event equipment can be a good way to save money in the long run, but only if you intend to use the items frequently enough to make the investment worthwhile. Depending on the equipment, buying may help you save money if the one-time cost is less than a series of rental fees. However, if you only need the equipment for annual or biannual events, renting can save you money on items you will only use infrequently.
How can you tell if a piece of event equipment will be worth your money? If you intend to use the equipment frequently enough to justify the cost of purchase, buying is the clear winner. If you plan on hosting frequent gatherings, such as weekly or monthly community events, investing in more versatile equipment, such as tents, seating, and tables, maybe a good idea. However, if these events are less frequent or do not require the same equipment on a regular basis, renting will be the best option for you and your budget.
Transportation and storage
Another thing to think about before buying is whether you have enough storage space and transportation for the equipment. While purchasing large supplies may save you money over renting, you must also consider whether you will need to spend money on storage space for the equipment during the event’s off-season. Furthermore, other major equipment, such as seating or lighting, may necessitate time-consuming transportation between events. You’ll also need to plan how to set up and tear down the equipment at each event in a timely and efficient manner. For these reasons, renting is usually the less expensive and more convenient option.
Longevity
As previously stated, purchasing your equipment can save you money in the long run, but only if the equipment can withstand multiple events. Some event supplies, such as decorations and props, can become obsolete after only a few uses. Styles and trends can shift overnight with little regard for your bank account, which is why renting equipment can assist you in avoiding risky investments. In the case of bulkier supplies like lighting or audio equipment, technology is constantly improving and updating. Rather than purchasing technology that will quickly become obsolete, renting can be a more cost-effective way to obtain high-quality equipment.
One Call To Rent Everything
When comparing the advantages of renting versus purchasing event equipment, renting comes out on top in terms of saving money, time, and effort. With The Wright Group, you’ll never have to do the heavy lifting on your own when it comes to Colorado event rentals. Contact Arizona Party Rental today for assistance with all your event equipment needs, from theatrical decor to DJ sound equipment.
