According to a number of big party and event rental companies profiled by Special Events Magazine, “business has firmed up in 2013, and they expect the same continued--albeit slow--growth in 2014.” With 2013 nearing an end, a number of publications across the entire foodservice, hospitality, and event industry have been forecasting how the 2014 Party and Event Rental industry will fare. Check out 10 of the most interesting findings we've uncovered!

1. PARTY / EVENT RENTAL
FORECAST FOR 2014.
10 Predictions About the 2014 Party Rental Industry

2. THE 2014 MARKET
PREDICTIONS

3. 43 percent of respondents predict they will create more
events in 2014 than they did in 2013 while 37 percent say
they will create the same number and 6 percent expect to
create fewer.
Source: Special Events Magazine

4. Half of all respondents expect an increase in revenue derived
from both business/corporate (50 percent) and
social/private events (51 percent). Relatively few expect
revenue decreases (business/corporate events, 10 percent;
social/private events, 6 percent)..
Source: Special Events Magazine

5. The most common steps taken in an effort to adapt to the
2014 rental marketplace will include...

6. adding new inventory (76 percent) and/or pursuing new
clients (73 percent.
Source: Special Events Magazine

7. followed by increasing marketing efforts (53 percent).
Source: Special Events Magazine

8. Four in ten (41 percent) will add staff.
Source: Special Events Magazine

9. while just over a third will add new services (35 percent)
and/or streamline operations (35 percent).
Source: Special Events Magazine

10. THE 2014 RENTAL ITEM
PREDICTIONS

11. Larger selections in all categories of inventory.
Source: Special Events Magazine

12. bringing in new items on a more 'request' basis now as
opposed to a seasonal basis.
Source: Special Events Magazine

13. Home interior design and fashion trends driving the design
of tabletop and linen inventory.
Source: Special Events Magazine

14. increasing demand for custom work
Source: Special Events Magazine

15. While 2014 sounds like
it’s shaping up to be a
good year, there are
many challenges
independent event
professionals will need
to overcome...

16. CHALLENGES INCLUDE:
Uncertain economy.
Reduced client budgets.
Increased competition.
Shorter lead times.
Demonstrating the value/ROI.
Source: Special Events Magazine

17. Challenges in-house
event professionals will
need to overcome
include...

18. CHALLENGES INCLUDE:
Reduced budgets.
Uncertain economy.
Shorter lead times.
Demonstrating the value/ROI.
Source: Special Events Magazine

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