Before making an investment on QuickBooks and/or additional software remember your reason for being in business. It is not just to manage a party rental business. It is to make your business the best party rental business in your locality! You may want to become the leading provider of a niche product. You may also want to become the go-to resource for rentals. Consider the following alternatives before investing in a business software.
With specialized estimates that give them somewhere between 74% up to 90% market share, QuickBooks is still today one of the most popular tools for small business. Thus, it’s very reasonable to ask if QuickBooks would work for a party rental business. We think yes, and here’s three reasons why it’s a good idea to consider QuickBooks for your Party Rental Business.
Easy to install and scale
If you are new to the rental business, you might want to start with a software that offers both scalability and a fast learning curve. QuickBooks has both, and they offer a no-credit card 30-day free trial on their Online and desktop editions.
Easy to find and train new employees
With almost 90% of market share, I assure you won’t have trouble finding employees that know their way around QuickBooks. Even more, there is a ton of QuickBooks training resources out there that can may help you once your business is up and running. Here are just a few:
A full add-ons market for specific business-needs
Now, once you familiarize yourself with QuickBooks you might start noting sometimes there is a lack of functionality on very specific business needs. While sometimes you will find answers to some questions in the previous forums, some of those answers will fall under the ‘patches’ category; not really solving your needs but mostly fixing things on a temporary way.
Thus, while QuickBooks offers a scalable and reliable solution. We recommend using an add-on application that takes care of all the things QuickBooks may be short. Some of the features that limit QuickBooks but that could easily be improved with an add-on are:
1) Limit accounting accessibility to your users
Because you don’t want to run the risk of having every employee mess with your accounting system. An app would give you the option to limit the type of information that specific users will be able to access.
2) Unique inventory and pricing capabilities
While QuickBooks offers many ways to handle inventory. Not all of them support unique part identification, or even having virtual inventories. An application lets you track unique parts including your inflatables, moonwalks or bounce houses. Either on Excel or using an application, you will want to track your inventory on an individual basis.
The same can be said when it comes to pricing. If you are a small business, or are struggling with your competitors in getting some important customers, as a party rental business, sometimes you will be facing the choice to give a unique price per customer. QuickBooks offers limited pricing when it comes to setting up for several customers. An application would give you the freedom to set prices for tents, tables & chairs, inflatables, etc.
3) Special events creation
Let’s face it, QuickBooks was not designed for the Party Rental business in mind. But the good news is, there’s an app for that! If you have an iPhone or an Android you may be familiar with the many ways having the right app enhances your device. By using an application you will be able to create events like live entertainment, DJ services, fireworks, or special event planning. As a rental business you will also want to be able to synchronize your personal calendar with your orders and leads. Or you will want to create a special event to track inventory, billing, customer history, etc.
In conclusion, running a successful party rental business requires not only the equipment but also the right software tools. At some point you might feel tempted to get a sole rental business software.
In our experience, it’s always best to have a reliable and secure accounting system, and enhance it with a simple add-on built for your specific needs. Don’t fall under the trap of investing in a software solution that may hurt your business’s growth because of its hyper-targeting of features. Find a reliable general accounting system and enhance it with an application!
Here’s an example of an easy to use and scalable QuickBooks add-on software for rentals. Do you agree or disagree?