Rental Management Magazine Presents
MOLINE, ILL., Rental Management magazine has named Colorado Party Rentals one of the 2023 fastest-growing event rental Market Movers in North America. The list represents event rental companies that showed the highest percentage of growth in rental revenue when comparing 2020 to 2022. In the span of these two years Colorado Party Rentals has grown by 452% in revenue, going from $2.3 million in annual revenue to $12.7 million.
Our aggressive growth strategy has led to deep market penetration in our current markets and opened up new markets through unconventional business models for secondary and highly seasonal opportunities.
One of the most essential practices we’ve put into place as we’ve grown has been our cross-departmental training module. Part of the new sales team training is going on routes with drivers, helping unload inventory in the dish and linen department, and shadowing our tent and general equipment departments for an afternoon. We have new training courses for our drivers led by our Business Development Manager, Director of Sales, and Client Success Manager. These trainings focus on customer service, quality management and Client relationships from the sales point of view. They help create a cohesive work environment and foster professional interdepartmental relationships. We have streamlined our communication process with a templated structure to ensure everyone is aware and up to date on what is happening each day. Additionally, each department participates in a daily sync call that allows them to connect on issues that need to be immediately addressed.
Social Media Marketing has been an invaluable source of growth for us in the last two years. Our Brand/Marketing Manager has focused on developing deliberate posting schedules and campaigns to boost engagement across platforms. It’s important for us to show the final product of our large, elaborate events, while also highlighting the process and behind-the-scenes work that goes into every delivery and install. We want there to be complete transparency from start to finish and we do this in a variety of ways across all our social media platforms.
One challenge we face year after year is keeping up with the consistent demand from the growth we have experienced. Every year creates new learning opportunities, such as staffing and inventory expansion and storage. Staffing has been a unique challenge as we’ve experienced rapid growth. Hiring new employees is time-consuming and costly. In the last year, we’ve put more extensive onboarding practices into place, focusing on company culture and our core values as we hire new permanent and seasonal team members. Managing the volume of inventory we’ve continued to accumulate has been difficult, especially with our limited storage space. We have prioritized developing an extensive inventory team to help put new organizational practices in place. This has not only helped create space in our warehouse, but it also streamlines the process for our warehouse and dock team to pick items going out for delivery.
We are honored to receive this mention in Rental Management Magazine and look forward to continued growth in the years to come. We couldn’t have done this without our incredible leadership team, dedicated employees, and outstanding clients!
THANK YOU!
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