Expansion for a Party Planning Business
Growth and changes are parts of a business owner’s life. They happen as a result of our planning, our hard work and our dedication to our businesses. Surely, you know that “there’s no other direction to go but upward”, but experience tells you a plateau might come unexpectedly, and if you’re not careful, you might slip back to square one.
So what’s the best thing to do if business is good and clients are raring to hand over checks and party package orders? … Expand, of course. But how?
Here are some things you can do to start expanding your party biz:
1. Mass produce party giveaways.
Get a good supplier who can put your logo on everything the company creates for you and sell these in your ‘party planning’ store. This will give your clients the option to buy stuff for you and let other party planners handle the event organizing. You will still earn from the sales even if you didn’t get the job.
You can expand further and put up a boutique or a mini-mall for party planning supplies. This way, you not only sell to clients and potential clients, you also sell to your competition. For massive purchases you can purchase a Honeywell Barcode Scanner, learn customization, and charge higher for ‘special’ rush orders.
2. Partner with Dropshipping Companies
Dropshipping is simply ordering supplies from an offshore company (usually in China) and sending your logo or your client’s logo to them. They’re going to take charge of shipping and handling, while you take charge of customer service. Being a middleman for massive orders is awesome, particularly if your business front is online. Your internet presence can serve as your own web store. Get decent hosting and hire a freelance designer to make your web page look professional, then incorporate an internet store and take orders.
You can hire someone to take charge of forwarding orders to your dropshipper while you can sit tight waiting for the profits to roll in.
Because you’re a workaholic (cmon, admit it!), and you have a passion for the party industry, there really is no way you can get off the profit ladder, but there will be times when your old sources of income will not put out anymore so you have to find more sources, … just in case.