The market for the party are wide range of parents who want to just enjoy with their kids and are too tied up to make arrangements. It will be an ever existing market and it is difficult to size it as every household may differ in amount they want to spend on each party.
The client are the kid’s parents interested in availing this service. As it is a service oriented business, client satisfaction is a key in the business. Also it is very important to ensure that the clients call up repeatedly for more business and refer to others for organizing the party.
Requirements for Children’s party business:
Following are the list of mandatory elements for beginning the business:
Photos of party themes
Business Phone and Cell Phone
Following are the list of optional elements:
Franchise connection: This is not critical. Having a franchise helps in getting the knowhow of the business. There are quite a few firms who run as a franchisee.
Vehicle with Cargo space
Shop or Office of choice to show case the party themes.
Apart from the above, one needs to have lots and lots of creativity.
How to go about the business:
- Develop business relationships with vendors, suppliers, caterers and entertainers. Negotiate a standard fee of using their services.
- Plan and collect themes that would be offered to clients. Fix the prices of the themes which would have to be competitive to the market rates.
- Ensure that the unique selling point of the business is identified and communicated to all the prospective clients.
- Plan the games and gifts in line with the themes so as to make the event memorable.
- Innovate and try to perform something new in every party so that the clients don’t see repetition every time.
- Initially pitch on to various existing business owners who may subcontract the party organizing activity during their busy schedule. This would lead to having the first set of clients. The clients may thereafter refer to other clients wanting to organize the party.
- Understand the requirement of the client and the budget within which the party has to be conducted.
- Focus on maintaining good relationships with the clients and the other business owners.
- Attend all the party and enjoy with the kids. This will show the level of engagement and seriousness in the party.
- Promote the business by every possible means i.e. thru flyers, canopy outside the schools etc.