Let's Plan A Party! "MAGIC" is the buzz word that usually describes what this business offers. No - the Party Planning business we're talking about has very little to do with Goof-Doop The Clown or serving cake and ice cream to 6-year old kids.
For a Party Planner, this is where the money is. And if you have the knack for organizing fun things for grown ups, you're in for a big - $100 Million - surprise. And it's a business worth celebrating.
This is a business you can virtually start with little or no capital. All you need is a great idea and a client who wants to have fun. The best way to implement this business is to act as the broker for all services entailed in any given event.
You do not prepare the food, you hire a caterer. You do not sing or dance, you hire entertainers. In fact, in some real big parties, you can negotiate with talent agencies to have celebrities attend your party.
For example, you can have named stars "drop by" your party for around $10,000 or better. If your budget cannot afford the real celebs at $10,000 a piece, then you can hire look-a-likes for $200 a night. Do not introduce them in the party, just let them roam around and mingle with the guests.
You can also plan an event around a theme, depending on the reason for the party and the number of people attending.
You can build festivals around parties. If the party is an extension of a convention, work around ideas that are conducive to people in that trade or industry.
To get started, line up businesses that are involved in parties: florists, videographers, caterers, hotel managers, equipment rental companies, and others.
Set your rates based on the price lists of these related businesses. These tie-in companies will dictate the way you structure your prices.
Once ready, compile a mailing list of potential corporate accounts in your area. If you live in a city with a convention center, it would be ideal to do some networking and get referral business.
Order 5,000 3 x 6 commission circulars from your printer selling $1.00 items that you earn 50% commission on every order you receive. Have your name printed on them - it will save you hours of stamping time.
If you have a garage or work building and are willing to learn a craft, upholstering, re-upholstering and/or furniture refinishing would make an excellent home business.
I would say the most frequently asked question from beginners about opening their own business is "What should I sell?" I then proceed to ask them, "What interests and hobbies do you have?" Most don't know how to answer that question because they ...
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