How to Start
a Party Planning Business
You’ve attended quite a number of parties and events and you’ve always been fascinated by the excellent set-up and all the (sometimes over the top) things that go behind it. Now you want to start a successful party planning business. But how do you start? One great thing about the party planning industry is you can manage your business from the comfort of your home which is especially ideal if you are starting off with a small budget. All you need to start with is a desk, a computer set up, and a phone. To help you with your new business venture, we’ve prepared steps on how to start your own party planning business from home.
Decide on your niche
The first thing to do before starting your party planning business is to decide what type of parties you want to plan and if you want to work with kids. One area that is usually targeted by party planners is social events which includes parties like birthdays, weddings, children’s parties, anniversaries, and so on. Another area is corporate parties and trade shows. There are also movie and tv show premiers which falls under entertainment events. Having a clear idea on what kind of events you want to plan (and your ideal clients) is going to help you later on as you plan your marketing, social media strategy, venues, vendors, and more!
Learn about tax laws and register your business
Research local tax laws or talk to an attorney to understand the tax implications of running a party planning business before you dive in. When these are off your checklist, choose a name and register your business so you can legally start operating.
If you are planning to build a website for your service, find out if a domain name is available for your desired name. If you see that your domain name is available, we highly recommend that you secure it now even if you are not planning to build your website right away. You could be left with a name that’s taken as most businesses are extending their brand online.
Watch your competitors
Like in any other business, understanding your competition will give you an advantage. Do research on your competitors working in your niche or location. See their best practices and decide which would work for you and what you could do to set you apart from them.
Set up your office and get some inventory
A home office is way cheaper and more convenient than renting an office, especially now that most people are working remotely from home. Instead of worrying about paying expensive rent, focus on building your business and use the money you saved to buy or rent inventory. However, if you are starting with a small budget, you can start off with a few party essentials like balloons, banners, backdrops, party ware, linens, centerpieces, and so on.
Define your rate and services
When defining your rates, take into consideration your expertise and the typical rates in your area. Make a list of the services that you would offer and the corresponding rates for each of them. Would you offer just party planning, or would you include booking the suppliers, sending out invites, and more? You could also create packages so your clients could pick out the best one based on their preferences and budget.
Market your business
To promote your business and activities, you have to take advantage of social media. Create your own brand and set up social media pages so people get to know more about your business. Actively promote your services on your website and social media pages, engage with your current and potential customers, and post useful content.
We hope these tips are helpful in starting your own party planning business. Remember to bring out your A-game for every party you create! Word of mouth is huge in this industry and reviews really matter. Don’t forget to share your party planning adventures with us! Follow @LeilaniParties on Instagram for a daily dose of decor inspiration and event planning tips!
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