How to sustain their business topped discussions at the second conference of the members of the Rental Professionals Society of Nigeria (RPSN) in Oregun, Lagos.
President RPSN, Mrs Taiwo Oderinlo, said the conference had its theme “The future of event rental business in Nigeria.”
Oderinlo, also Managing Director Jason Davids Event Limited, urged her colleagues to pay attention and learn from the event.
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Zonal Head, Produs Bank PLC, Lagos Mainland, Rasheedat Adeyemi, who spoke on “Pricing and profitability in rental business’’ said rental business is profitability, if well managed.
She listed some nuggets for survival as reduction of waste, enlisting in professional groups, gaining and retaining customers and staying up with appropriate structures in place.
She warned the practitioners against lack of periodic pricing and undervaluing their prices to attract customers, saying this could backfire and ruin them.
To enhance profitability, Adeyemi canvassed collaboration among members of RSPN, preventive maintenance and quality service, adding that decisions must be date driven. She advised against stiff competition as it could do an entrepreneur no good.