Deciding whether to buy or hire an expo stand is crucial to your further event planning. Do you feel confused between the two? Let us help you make a rational decision by breaking down all the key factors. So let’s get started!
5 Key Factors To Consider For Buying Or Hiring Expo Stand
When deciding on whether to buy or hire an exhibition stand, there are several key factors to consider. Some of the most important ones are the following:
It Depends On The Frequency Of Use
If you regularly attend exhibitions, buying a stand might be more cost-effective in the long run. The initial investment can be justified over time with frequent use.
On the other hand, if you are occasionally attending exhibitions, hiring the best exhibition stand would be a better choice. As it avoids the need for storage and maintenance between events.
Costs and Budget Availability
Budget availability is another critical yet deciding factor to buy or rent an exhibition stand. To check what is more feasible for you in terms of budget, here are certain cost insights for both buying and renting exhibition stands:
Buying a stand requires a significant upfront investment, which may not be feasible for all businesses, especially startups or those with limited budgets. On average:
- A modular stand costs from £400 to £1000 per square meter.
- A customised stand will cost from £500 to £1500 per square meter.
- Buying a pop up stand will cost from £100 to £350.
Hiring an exhibition stand offers a cost-effective solution for businesses with limited budgets and who attend exhibitions occasionally. For example, a medium-sized blog can cost between £ 300 and £1500.
It also relieves you of the responsibility of storage and transportation, which the rental company typically handles.
So, you must evaluate what suits your budget the very best.
Availability Of Customisation
If you own a stand, it requires related storage space and transportation arrangements between events. That gives you an edge to customise everything according to your expo planning and goals.
Plus, you can craft this place to reflect your brand and create a lasting impression on visitors. You can also update the stand with new features and designs, making it look modern and inviting.
When you are renting a stand, customisations are limited here and
Storage And Transportation
If you buy a stand, it will require storage space and logistics on your own for the event and future use. Which means it will add extra costs and logistics challenges.
On the other hand, if you hire a stand from a reliable exhibition production company, it will handle this for you. Some of the known rental companies, like EMS-Exhibitions, offer free delivery of the equipment.
Maintenance And Repairs
When you own a stand, you are responsible for its maintenance and all repairs. This is going to be time-consuming and add extra costs to your total budget.
However, renting a stand provides access to all the latest designs and features of your desired stand. Which may be difficult to achieve
Other Important Factors To Consider
- Environmental Impact
Whenever you are about to choose, consider the pros and cons of your decision regarding the environmental impact. No matter what you choose, it should be sustainable and eco-friendly.
Tip: Hiring a modular stand for exhibition is a more sustainable option.
- Turnaround Time
If you need a stand quickly, renting is often the faster solution. You just have to explore all the options and services they provide and then get a quote. If you are hiring a customised stand, it might take some extra time to prepare.
- Resale Value
Some of the expo stands, like the modular one, can be resold; hence, it is better to check this value, too!
- Insurance
Last but not least, whether you buy or rent a stand, it is essential to know its policies regarding returns and insurance. This will not only help you to smooth the work but also help you to make a wiser decision.
Conclusion
The ultimate decision to buy or hire an exhibition stand always narrows down to your specific needs, budget, and plans. Also, carefully evaluate your options of:
- Branding
- Customisations
- Logistics
It will help you to make the best choice for your business exhibition stand. Buying a stand can be a long-term investment that can save you money. It appreciates over time, potentially allowing you to sell it in the future! But, renting a stand helps you get the most updated stand designs with no upfront costs, logistics, storage, or repair costs. You just get the complete and trending stand according to your needs.