If you always loved throwing themed birthday parties for your kids or you’ve helped several friends plan their big celebrations—whether they were Christmas parties, birthday parties or weddings—you might want to consider starting a party planning business. There are two ways you can do this: partner up with a company that throws themed parties and become a representative, or plan the parties yourself and use a network of vendors to make them happen.
Unless you already happen to know a lot of musicians, décor artists and other talented people who can help you throw excellent parties for an affordable price, this is the easier way to go. Many companies have started selling their products through themed parties, including Tupperware and Lego.
Ask other party planning consultants what companies they enjoy working with. If you don’t know any party planning consultants you can find them on an online forum like PartyPlans.com. You can also ask on Yahoo Answers or similar sites.
Make sure you check out any companies you’re not familiar with before you agree to represent them. It’s important that you believe in what you’re selling and equally important to be selling quality products if you want your business to grow. Purchase a test product if you’ve never used them before and if possible try to attend a couple parties thrown by the company you’re considering partnering with.
You want to learn as much as you can about the company’s compensation plan before you sign up. If you’re considering a couple different companies compare reviews from actual associates as well as the compensation plans. The best compensation plan won’t do you any good if you’re selling crappy products, but if products are otherwise equal or at least similar you want to go for the better compensation plan.
Here are some questions to ask before you sign up:
Once you’ve signed up, get to know your team and who you can rely on for support. Corporate support makes all the difference in this kind of business. Figure out who you can ask questions, who can help you with different things, what packages are the most popular, etc. as quickly as you can.
Some things to remember about partnerships:
Starting a party planning business without the direct support of one of these companies is possible, but it is much more difficult. To be successful you should focus on a specific type of party, whether it’s birthday parties, corporate parties or parties with a specific theme like Lego or science fiction.
In order to start a successful party planning business you need to either a) be crafty enough to make all the décor and themed materials yourself or b) have a talented network of people willing to help you for an affordable fee.
This is usually only a successful strategy if you’ve already worked for a party planning company or you have the resources to pour full time hours into your business for the first several months as you build yourself up. The main advantages are that you get complete control over what comes in the party packages you create and you get to keep all the profit. Still, for most people this simply isn’t a viable option.
Some things to consider about doing it on your own:
Starting a party planning business can be thrilling, but it is still hard work, just like starting any other business. Here are a few tips to get you started, with or without a partnership:
Good luck with your party planning business!
Everybody knows the stories: brilliant minds create companies like Google, Facebook and Ebay, grow them from tiny start-ups to massive conglomerates, often by pulling 80 hour weeks and refusing to take days off for the first few years. Others become astronomically successful by self-publishing books online or creating video courses. If you spend a lot of time reading online media, it seems like online billionaires must be everywhere, but you’ve probably never met one yourself. And frankly, it seems ridiculous.
All right, so these seemingly-mythical billionaires do exist, but you’re right about one thing: they aren’t everywhere. Oh, and you probably won’t end up in their ranks. But you can start an online business and see some success. In fact, 1 in 10 Australians is already earning money through an online business.
While some businesses simply have to be operated in brick-and-mortar locations, online businesses have several advantages in many industries. Here are the top 5:
Freedom to make as much money as you want. When you run your own business, you are in complete control of how much money you make. Often you’ll have to work harder initially to start making good money, but once you do, the work gets easier. Many online business models also feature passive income, meaning you can make money even while you’re on vacation.
The ability to control your own hours. You might have to be up and “at work” during daylight hours to have meetings with clients, but for the most part, you get to control your own hours when you run an online business. In the vast majority of online businesses you can even work in your PJs, although many entrepreneurs find it easier to stay focused if they dress up in their work clothes.
Low overhead costs and little risk. Most online businesses require very little financial outlay and only a small amount of risk. Many website building platforms such as WordPress make it easy to build an attractive website and even come with cheap (under $100) pre-made designs that can really help your website stand out. If you’re running a service based business such as a freelance writing business you don’t even need to worry about purchasing massive amounts of stock or shipping products.
There are endless options. These days you can start almost any kind of business online with ease. You can make money at any time or day of night and sell directly to customers in any part of the world. You can even use one website to make money in several different ways, many of which require a minimal amount of skill to set up even if they require a significant time investment.
It’s easy to find an affordable training program. There are training programs to help you get started in every kind of business, often found at every price range. The pros who started making money online ten, twenty years ago are now teaching people of all kinds how to start their own dream businesses—and odds are pretty high that you can find one in your niche.
With online business, the possibilities are endless. You can sell almost any skill and certainly any product online, and more people are turning to the internet for their purchases every day. As the younger generations who have grown up surrounded with technology gain purchasing power you can bet the success of online businesses will only continue to grow.
Still, make sure to research opportunities before you try to start any online business. Each one has its own advantages and drawbacks, and some require you to get a professional certification of some kind before you complete them. Make sure you truly want to commit to something before you spend any money on training. You’ll thank yourself later.