Who does not love parties? What is not to love: eating, drinking, dancing, meeting people? The problem comes when you are the host and you have little time to put everything together! That is pretty stressful, trust me, I have been there, and it is even more painful when you are new at it.
Luckily, party rentals exist, and they are here to best help us with all our party needs from decisions, equipment, supplies, installation, and breakdown, they are there for you!
Sometimes… I just can’t help myself wondering, what would our lives be without party rentals?
Well, today, we will talk about the history of this wonderful, life-saving industry: rental companies. The industry of rentals is fairly recent as the American Rental Association was founded in 1955.
The rental industry was born in America in the post-World War II era.
During this time, people were moving around the country, looking for new opportunities, so the fast growth of trailer rentals took place. After that, when young families bought new homes, the tool and party equipment rentals began its growth as the do-it-yourself fix-up was trending at the time.
Eventually, people in different parts of the country started developing their own rental business and began meeting, talking and sharing notes and ideas. In 1957, a young entrepreneur named Jim Gartland identified the potential of the upcoming rental industry.
He launched the National Rental Yard Register the first magazine with a mailing list.
The first issue was published and mailed to 4,000 rental dealers as Gartland obtains names of 4,000 rental businesses by searching through telephone directories around the country and writing the addresses by hand.
Soon after this great event, the American Rental Association originally named the American Association of Rental Operations, who offered support to such as ideas -organizational effectiveness, industry image, education, information and resources-, networking, information and education to all those members, who were usually entrepreneurs.
By 1960’s almost any piece of equipment or tool could be rented, and people were very much into this concept, as it contained a lot of benefits, one of them was money savings.
By that time, rentals would range from camping equipment, home healthcare supplies – “sickroom” supplies-, party items as well as appliances such as televisions and even furniture, refrigerators, washing machines, rollaway beds and baby care items, such as cribs, were popular as well. During this time, the party rental also known as soft goods was hot!
However, the party rental industry really became popular in the beginning of the twenty-first century.
The rental company market started to grow due to many reasons such as demand, especially for contractors, as they were eager to rent equipment rather than buying it since this would minimize their costs – staff costs, equipment costs, maintenance costs, insurance costs,-variety of equipment, and equipment availability: As rental companies began growing fast, their inventories expanded in number and in variety.
Today, equipment rental represents a 49.8 billion dollar industry in revenue.
And surprisingly it is expected to grow to 57 billion dollars by 2020. The responsible of this progressive growth in the construction field.
Construction and industrial equipment rental revenue are expected to grow by 3.7 percent in 2017, 4.2 percent in 2018, 5 percent in 2019 due to the continued improvement in the U.S. housing market.
Rental History dates back on 1950’s yet is still hot in America, and even around the globe, as in Europe, the equipment market includes around 3,900 companies employing 114,600 people. On 2013 the rental market was €33.6 billion euros and continues expanding.
Convenience and significant savings come to my mind when I think about the rental industry, from party supplies to heavy construction machinery, people may acquire whatever tool and equipment or supply they need for a specific amount of time and that is a winning situation for both, the rental company and the client.
In conclusion about the history of Party Rentals
So now you know, if you are ever in need of obtaining a specified tool, appliance or equipment, make sure to first go through a few online pages about rentals and also drive around town looking for local rental companies, before investing a huge chunk of money on something you won’t need sooner rather than later.