One of your major priorities is to make lots of cash when you start a kid’s party planning business. Aside from that, your goal is to make a name for yourself. What is more, helping parents and kids have one of the most riveting parties they will never forget.
First things to think about. You’ll have to ensure that your personality fits the bill to start the business. You’ll also have to put your creativity to use and be innovative. Considering this, a great advantage in this business is having a very lively disposition.
First Choose Your Target Market
The following step, and a significant one at that, is to choose your target market. Your target will be parents that have the extra cash that are willing to hire a kids party planner in this business. As a matter of fact, they truly like to spend money on their kids.
Likewise, you’ll need to be sure about what kind of services you’ll offer when you first start. The possible services are varied. Some will take care of the theme, others the decorating, organizing and even catering.
It is important to have a rundown of what services you will offer when you start a kid’s party planning business. The list may be so much that you start wondering where exactly to focus. Actually, the rule of thumb is to focus on your strengths. You may possibly subcontract a considerable amount of the services.
It’s important to know, precisely, what you can and can’t offer clients in the beginning. Besides, you should be very exact about your services. In all honesty, this will prevent you from running into troubled waters as you progress.
Factors To Consider in a Kid’s Party Planning Business
There are a couple of things to consider before you begin. Choose whether or not to have an office or shop. In fact, your visible space will bring credibility. Furthermore, it will also give you a spot to showcase. On the other hand, you may need to store your pieces of equipment. Take into account it can be expensive to lease or purchase business property.
Also, consider the distinctive services you plan to offer. You might just provide games and different activities. Moreover, coordinate with other party planning experts. For example, you may require a clown or face painters.
In addition, you may need to provide food or supply a DJ. The more alternatives you give, the more business you can get. On the other hand, special equipment can be costly to buy.
The Skill Sets Needed in a Kid’s Party Planning Business
Making schedules for parties
Do coordination for party elements
Shopping for party supplies
Set up different kinds of equipment
Work well with children and parents
Having a sound knowledge of etiquette
Great multi-tasking skills
A high level of imagination and creativity
What are space requirements for certain events
Problem solving skills
Having a fun personality
Daily Hours Needed in a Kid’s Party Planning Business
You will want to take into consideration your general hours of operation when you start with kid’s party planning. In addition, children’s parties ordinarily occur on weekends. They typically last 4 to 5 hours. Furthermore, you may also have your business open at ordinary business hours. For example, you may be open 9:00 a.m. to 5:00 p.m.
Overall, setup can take around 2 hours. Similarly, breakdown can take around 3 hours for a kid’s party planning business. Then, extra hours are taken during the week to stay informed concerning stock. Let alone, meet with customers.
Hardware, Supplies, Services in a Kid’s Party Planning Business
Equipment for cleanup
Tables and seats
Commercial type of transportation
Themed presentation materials
A warehouse or storage space
Helium for exploding balloons
Air compressor for toys and tents
Running Expenses to Consider in a Kid’s Party Planning Business
Hardware rental expenses
There may be a cooking permit required for a kid’s party planning business. In addition, a permit stating your business passes health inspection requirements in the event that you are catering. You may be serving the food and beverages yourself.
You should also find out about liability insurance policy to insure you in the case of accidents at parties. Also, you should do a background check for your employees. Consequently, it is necessary to avoid any surprises in the long run.
The Entrepreneur Magazine asserts that the normal start up costs for a kid’s party planning business may be less than $2,000 USD.
Advantages you will find with a Kid’s Party Planning Business
It’s a high in demand service
It’s a fun business to run
It can develop into other complimentary areas, for example, cake baking
Flexible hours of work
The Disadvantages of a Kid’s Party Planning Business
Children are sometimes difficult to manage
Weekend hours are your essential work hours
It can be moderate and/or busy depending upon your zone and the monetary atmosphere
Kind of Customers You Need to Attract
The customers of your kid’s party planning business will be parents. By the way, kids who want to have a memorable occasion will ask their parents for a party. Furthermore, to attract customers, you want to have an attractive sign on your car. You should have your organization logo and information on this sign. This is another great advantage for your potential customers to find you.
The primary method for finding new customers at the beginning is through word of mouth. Not to mention, they’ll request your kids party planning business with this method. Although, this is in the event that people going to the party see and like what you’ve done.
You’ll have a full customer schedule with a kid’s party planning business before you know it. Moreover, promoting by showing people what you do is very crucial. Additionally, you’ll need to do your outright best to give an awesome service.
The kid’s party planning business is a multimillion dollar a year business. Namely, this is with regards to White Hutchinson Leisure and Learning Group. Furthermore, it has seen a 20% increment in yearly spending in the last 15 years.
The charge for a normal party can begin at $500 USD. This information is from the foundvalue.com. Besides, more extravagant parties can surpass $3,000 USD.
You love having kids around you. By the same token, you have an eye for proper organization of things. In conclusion, a fabulous thought to pursue may be starting a kid’s party planning business.