If you are looking to start your own business, one business you should consider is party planning that offer a wide range services. One of the biggest rising trends in this day and age is big, grand, expensive parties for young children and these busy parents are willing to pay a lot of money to someone who is willing to take the burden of planning the party off their shoulders. Of course, you have to be very creative and have a love for planning parties if you are going to start a party planning business of your own.
You will need a lot of play equipment, lighting equipment and sound equipment for these parties and many parents are willing to pay extra for these things. As an example, jumping castle hire is something that has the potential to make a lot of money as they are very popular at most kid’s parties.
As such, you should consider investing some money in buying your own equipment that you can then hire out to each party that you plan which will surely cover your initial cost in no time leaving you with your own assets to rent out not only to kid’s birthday parties but also to other events.
Perfect jumping castles for example might be rented out as a separate unit instead of as part of a party planning package which means that you will be targeting not only the parents who need to hire you as a party planner but also those parents who are choosing to plan their child’s party themselves in their homes but may only have a requirement for the castle.
Similarly, you will find that there is a lot of money to be made from sound equipment hire and lighting equipment hire for corporate events, other social gatherings in addition to children’s birthday parties which means that even while you are busy planning a party, you will be making money on the side from your equipment hire business.
You will need to make contact with various suppliers who can provide things to you for these parties at a lower rate on top of which you can place a markup and sell it to the customer. You will need to have contacts with catering companies, cake bakers, decoration makers and various other suppliers who will be able to supply you with what you need for the birthday parties that you plan. There is a lot of money to be made in party planning if you know how to advertise and position yourself above the competition.