The booming industry of tent rentals in Toronto serves corporate, private and non-profit events with drinks, food, event management as well as other services. Events are also generally held by clients in order to communicate, celebrate and even both. Another extension to the industry is the party rental sector which includes rental of party equipments to those who will need of these.
- Celebration. Both banquets and parties are key events in life like weddings, birthdays, bat mitzvahs, bridal and baby showers, engagements, retirement parties and others or for a business holiday, parties, honoree galas and retirement balls.
- Communication. Events to communicate a message for the attendees or the press which include product launches, trade shows, press events, conferences, lectures, presentations, and fundraisers in order to stimulate discussion or corporate meetings.
Over the last decade, the Canadian market for tent rentals in Toronto was estimated to be growing exponentially. The market is prone to different economic cycles, as events like corporate events are few of the expenses cut whenever there is a slowdown in the economy. Celebratory events will also be scaled back a bit are generally not cancelled whenever there is a downturn in spending. The industry contracted by about 1.5% in the year 2008 because of the economic downturn and also a similar decline was apparent the year after. By 2010 the tent rentals in Toronto industry saw a return to a positive growth.
There is also a movement towards horizontal integration in the greater event industry while there is some full service event providers improving in order to provide audio visual and technology, entertainment, catering, décor, rentals, venues and many more. Businesses which provide these additional services will also take on assets that are not yet fully utilized as a specialist would be. However they can earn greater margins on the sales which they make.
The corporate market is being defined as a business which holds at least one off-site event every year. Businesses often have public relations and A/V needs in concert with their events which can serve a marketing function in the business. Whether entertaining the clients, press or board members, businesses will require professional execution, delicious drinks and food and also alignment between the event managers and the objectives of the business for the particular event.
The private market on the other hand includes households that have combined household income of more than $80,000 a year. This group will put a great amount of pressure on caterers and tent rentals in Toronto for added attention as lavish events maybe not common for them. They will typically require hands-on kind of work and planning and also some expert advice as well as referrals in the entire processing.
The non-profit market is also defined as non-profit organization which holds at least a single off-site event every year.