InTents August/September 2022 - 25

ven as COVID-induced
cancellations recede,
vendors must now deal
with spiking costs resulting
from rising demand,
geopolitical instability, supply chain
breakdowns and other economic trends.
In fact, the Wall Street Journal reported
earlier this year that recent consumer
prices are the highest in 40 years.
Companies across all industries are
facing rapidly rising costs for fuel, labor,
materials and more. But as wages continue
to lag well behind inlation, consumers are
struggling as well, leaving everyone with
some tough choices to make.
" If you fear backlash from your
customers, you may decide against price
hikes, " notes entrepreneur Kyle Leighton
in Forbes. " But absorbing inlationary
costs could hurt your business, forcing
you to downsize, scale back operating
hours or streamline your offerings. That
raises some important questions for
leaders: when is the right time to raise
prices, and how do you do it without
alienating your clientele? "
Particularly in the events business,
companies want to focus on raising
expectations, not prices. But suddenly
they're faced with having to dramatically
raise prices and lower client expectations
to protect their company's bottom line.
To see how the event rentals industry
is adapting to these unprecedented
challenges, we talked to four companies
dealing with these issues at the height of
the 2022 rental season.
RAISING PRICES
Not surprisingly, one of the largest
overhead increases has been fuel
costs, reports Andrew Owens, vice
president of operations for Warsaw,
Va.-based Clements Tent Rentals. As
a result, he's had to boost delivery
fees by about 25%. Over a third of his
business comes from private backyard
Though prices are rising, demand is so
healthy that there's no need to haggle with
customers, reports David Cesar of Blue Peak
Tents, which provided tenting for this wedding.
Photo courtesy of Blue Peak Tents.
InTentsMag.com 25
http://www.InTentsMag.com

InTents August/September 2022

Table of Contents for the Digital Edition of InTents August/September 2022

InTents August/September 2022 - Cover1
InTents August/September 2022 - Cover2
InTents August/September 2022 - 1
InTents August/September 2022 - 2
InTents August/September 2022 - 3
InTents August/September 2022 - 4
InTents August/September 2022 - 5
InTents August/September 2022 - 6
InTents August/September 2022 - 7
InTents August/September 2022 - 8
InTents August/September 2022 - 9
InTents August/September 2022 - 10
InTents August/September 2022 - 11
InTents August/September 2022 - 12
InTents August/September 2022 - 13
InTents August/September 2022 - 14
InTents August/September 2022 - 15
InTents August/September 2022 - 16
InTents August/September 2022 - 17
InTents August/September 2022 - 18
InTents August/September 2022 - 19
InTents August/September 2022 - 20
InTents August/September 2022 - 21
InTents August/September 2022 - 22
InTents August/September 2022 - 23
InTents August/September 2022 - 24
InTents August/September 2022 - 25
InTents August/September 2022 - 26
InTents August/September 2022 - 27
InTents August/September 2022 - 28
InTents August/September 2022 - 29
InTents August/September 2022 - 30
InTents August/September 2022 - 31
InTents August/September 2022 - 32
InTents August/September 2022 - 33
InTents August/September 2022 - 34
InTents August/September 2022 - 35
InTents August/September 2022 - 36
InTents August/September 2022 - 37
InTents August/September 2022 - 38
InTents August/September 2022 - 39
InTents August/September 2022 - 40
InTents August/September 2022 - 41
InTents August/September 2022 - 42
InTents August/September 2022 - 43
InTents August/September 2022 - 44
InTents August/September 2022 - 45
InTents August/September 2022 - 46
InTents August/September 2022 - 47
InTents August/September 2022 - 48
InTents August/September 2022 - Cover3
InTents August/September 2022 - Cover4
https://www.nxtbook.com/ata/intents/intents-june-july-2024
https://www.nxtbook.com/ata/intents/intents-april-may-2024
https://www.nxtbook.com/ata/intents/intents-february-march-2024
https://www.nxtbook.com/ata/intents/intents-idea-book-2024
https://www.nxtbook.com/ata/intents/intents-december-2023-january-2024
https://www.nxtbook.com/ata/intents/intents-october-november-2023
https://www.nxtbook.com/ata/intents/intents-august-september-2023
https://www.nxtbook.com/ata/intents/intents-june-july-2023
https://www.nxtbook.com/ata/intents/intents-april-may-2023
https://www.nxtbook.com/ata/intents/-intents-february-march-2023
https://www.nxtbook.com/ata/intents/intents-idea-book-2023
https://www.nxtbook.com/ata/intents/intents-december2022-january-2023
https://www.nxtbook.com/ata/intents/intents-october-november-2022
https://www.nxtbook.com/ifai/intents/intents-august-september-2022
https://www.nxtbook.com/ifai/intents/intents-june-july-2022
https://www.nxtbook.com/ifai/intents/intents-april-may-2022
https://www.nxtbook.com/ifai/intents/intents-february-march-2022
https://www.nxtbook.com/ifai/intents/intents-december-2021-january-2022
https://www.nxtbook.com/ifai/intents/intents-october-november-2021
https://www.nxtbook.com/ifai/intents/intents-august-september-2021
https://www.nxtbook.com/ifai/intents/intents-june-july-2021
https://www.nxtbook.com/ifai/intents/intents-april-may-2021
https://www.nxtbook.com/ifai/intents/intents-february-march-2021
https://www.nxtbook.com/ifai/intents/1220IT
https://www.nxtbook.com/ifai/intents/1020IT
https://www.nxtbook.com/ifai/intents/0820IT
https://www.nxtbook.com/ifai/intents/0620IT
https://www.nxtbook.com/ifai/intents/0420IT
https://www.nxtbook.com/ifai/intents/0220IT
https://www.nxtbook.com/ifai/intents/1219IT
https://www.nxtbook.com/ifai/intents/1019IT
https://www.nxtbook.com/ifai/intents/0819IT
https://www.nxtbook.com/ifai/intents/0619IT
https://www.nxtbook.com/ifai/intents/0419IT
https://www.nxtbook.com/ifai/intents/0219IT
https://www.nxtbook.com/ifai/intents/1218IT
https://www.nxtbook.com/ifai/intents/1018IT
https://www.nxtbook.com/ifai/intents/0818IT
https://www.nxtbook.com/ifai/intents/0618IT
https://www.nxtbook.com/ifai/intents/0418IT
https://www.nxtbook.com/ifai/intents/0218IT
https://www.nxtbookmedia.com