There are a number of sources I tend to turn to when I need information on special events – BizBash Magazine, Special Events Magazine, InTents Magazine, the American Rental Association, and the Canadian Rental Association are just a few that are my go-tos. The American Rental Association has a fantastic Rental Market Monitor that includes quarterly forecasts in Construction and Industrial Equipment, General Tool and Party and Event categories. They also provide further analysis into the Canadian versus United States rental markets. This is a helpful tool that we use to identify market trends and forecast when to expand our business. While the rental market monitor relies on a common analytical framework using a combination of expertise, models, data and software, Special Events Magazine and BizBash tends to get market information directly from party rental companies – who live and breathe the trends on a daily basis.
Special Events Magazine recently released an article summarizing their recent survey findings from the special events industry with good news. “80% of the respondents surveyed forecast strong business this year – predicting they will handle more events than they did in 2015”. Not only was this forecast stated, but the greatest challenges facing rental operations in 2016 as well as the top strategies rental operators are going to use to adapt to the 2016 rental marketplace were also mentioned. Head over to the Party Rental Forecast 2016 to read more of the fascinating findings.