I was wondering if any of you guys have pricing formulas for renting out equipment to customers, e.g., stands, pillars, knives.
I'll be making my first wedding cake in June, and the only thing preventing me from giving the customer a final price is not knowing how much to charge for renting the pillars and separator plates.
I use the '3x cost of ingredients & materials + labour' method for pricing my cakes, so was wondering if there's a similar method for renting, maybe like 2x what the item cost, then refunding 50% of that cost should they return it in good condition.
Any help will be hugely appreciated as I can't find any past discussions on this topic
We charge 1/3 of the price of the item as a rental fee plus the replacement cost of the item as a refundable deposit.
25%, 33%, and 50% (on smaller items). It depends on the items. I rent everything to make various buffets, such as dessert, cookie, and candy.
120% of retail is the deposit. 100% refundable.