Building for Today, Not Just Tomorrow - March 6, 2025

Negotiations, Profit Margins & Repeat Business in the Event Industry

A Day of Prep, Profit, and Perspective

Today was relatively low on activity but heavy on planning. My mind has been focused on tomorrow, which is stacked with commitments, and I want to make sure nothing slips through the cracks.

Negotiating a Big Opportunity

The day started with fielding calls and sending out quotes. One call stood out—a potential big job that could be a great win for us. The client is negotiating hard, but I’m holding my ground. Too many people in this industry take on large jobs at a loss, hoping it pays off in the future. I’ve done it before, and sometimes it makes sense. But right now, I’m focused on building a business that works today, not just for some hypothetical future.

Webinar Takeaways (or Lack Thereof)

I attended a webinar on maximizing tax deductions, hosted by a lending institute I recently connected with. Unfortunately, it was pretty basic—more of a beginner-level session. Not much value for me, but always worth checking out new resources.

I Sold Some Chairs

I sold some used chairs. They weren’t renting as much as I’d like, and a refresh was due anyway. Before offloading them, I checked in with my usual client to see if they wanted a different product or more of the same—no luck there.

Still, this was an unexpected $510 since I’m currently not assigning any resale value to inventory. Maybe something to rethink in the future. For now, I’m tucking this away in the business savings.

Client Pickup & Profit Breakdown

Midday, I picked up cocktail tables from a corporate client. Smooth pickup, and even better—my contact person increased her order for next week! Here’s how the numbers looked for this job:

  • Total revenue: ~$440 (after issuing a credit for wrinkled linens)

  • Job-related costs (ARA calculator): $207

  • Profit Margin Contribution: $233 (53%)

Not quite where I’d like my margins to be, but a few factors played into it. The delivery had two people instead of one (unnecessarily), and I also discounted a portage fee as a goodwill gesture (beyond the initial credit).

Profitability Tracking—Looking for Insights

If anyone in the industry has thoughts on profitability tracking, I’d love to hear them! Right now, I’m using the ARA calculator, which is helpful but not ideal. If you’ve found a better system for analyzing margins and job profitability, I’m all ears.

Family Time & Looking Ahead

The day wrapped up with taking my kid to meet his new teachers for next year—a milestone moment before an “exciting” (read: jam-packed) day tomorrow.

Time to recharge before tackling what’s next!