Businesses That Complement a Party Planning Company
As party planners, we are always on the lookout for complementary businesses to complement the party organizing one. As the party planning business is the main source of income, all other businesses must revolve around it. These complementary businesses must not be liabilities to the main one, in that:
- It has to be low maintenance.
- It has to be in demand
- One must be able to excel on it too without sacrificing much of the time spent on party organization.
So, what business will satisfy all these criteria and efficiently bring in more cash to the party planner?
Catering? – Not if the party organizer has to be on the wheel all the time. This aspect of a party is the most tedious. It demands time for preparation, serving and feedback collecting. If someone in your immediate family or circle of friends wants to concentrate on this aspect, well and good, but if it has to be you, the party organizing side could suffer.
Starting a Party Supply Business
This is by far the best bet for a complementary business! Supplies aren’t perishable, and they won’t take up too much space. They can also be imported. Besides, if you’re the crafts and arts type, this business will be a breeze.
What to look out for:
1. Trends and Themes – One party theme could work now, but it may not in the future. Take note of what’s fashionable and hip in the current generation, particularly when planning for birthday parties and weddings. Remember that your job includes pointing your clients to the best and trendiest themes for their occasions, so your supplies must be up-to-par.
2. Price - Your usual supply broker can be as loyal to you as your friends, but it is not unethical to find cheaper sources for materials. Remember that the more costs you cut without sacrificing quality, the more profit you will reap.
3. Contingency Supply Source – Deliveries go awry, we all know that. Party supplies are not as sensitive to delivery mishaps as food, but taken to extremes, this could very well ruin a perfect party. Look for stores (even competitors) that sell the same supplies as you do and be friends with them. You never know when you might need a helping hand or someone to provide you with the supplies you direly need.