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What Is Involved In Running A Kids Party Planning Business?

The owner of a kids party planning business oversees every tedious little task of an event from the very beginning brainstorming stage all the way through to the actual event. Depending on the theme and size of the child's party, as well as when the planner is called to help, it may take a couple of days or several months to complete the projects.

The majority of the kids party planners day is spent meeting with clients and prospects. When meeting with prospective clients, the planner will look over their calendar to ensure that they have free time that coincides with the date of the party. If his or her schedule permits, then the brainstorming begins and the planner works with the client to come up with a plan of action to execute the ideal kids party.

When meeting with established clients, by phone or in person, the planner makes sure that everything is running smooth with the upcoming event. This is also the time when the client is informed of any tasks that are not going as hoped as well as address any client questions.

In addition to clients, the owner of a kids party planning business must also meet with various vendors all throughout the day. This involves reserving locations for the party, checking menus, getting pricing on all decorations and booking any talent requested for the party.

It is the responsibility of the owner of a kids party planning business to set everything up, so that on the day of the party everything runs according to plan. Some part of the day may include working in the field hands-on. This can range from driving around town to track down decorations that are difficult to locate to helping the party talent set up their equipment.

On the day of the party, the planner shows up early at the location to ensure that the vendors are ready and everything is in place for the day's event. The planner manages the clients and guests of the party as well, acting as a go-between and keeping everything in order until the last guest leaves.

Special Requirements:

A kids party planner must be able to work with various types of people and have the ability to multitask with grace.

Equipment Necessary To Run A Kids Party Planning Business:

Computer with Internet access and a database set up to manage accounting, employees, supplies and to-do lists
Delivery vehicle(s)
A portfolio of your work
Cell phone with Bluetooth, etc.
Business cards
Website

The Cons Of Running A Kids Party Planning Business:

Children party planners work long, hard hours.
Requires a lot of attention to detail and can be somewhat challenging
Most kids parties are on weekends, holidays and evenings, taking time away that you may normally spend with family or friends.

The Pros Of Running A Kids Party Planning Business:

This is a business that can be run from home or from a separate office.
A business that is just as fun as it is profitable
You will have the opportunity to meet people from all walks of life
It is possible to advertise your services while as you are working on a current project by mingling with guests

Skills Necessary To Run A Kids Party Planning Business:

Knowledge of various foods and beverages
Knowledge of various forms of entertainment
Communication skills and the ability to work with all types of people
Organizational skills
Ability to multitask and oversee various vendors and performs while ensuring the client and guests enjoy the party.
Space planning skills
Ability to prepare timelines for scheduled events
Negotiation skills
Marketing skills
Imaginative
Detail oriented
Business skills

Licenses Necessary For Running A Kids Party Planning Business:

You will need a business license and perhaps a building and planning permit. Check with authorities in your area to find out about all license requirements to run a kids party planning business in your state or city.

Associations:

Event Planners Association

International Special Events Society

Employees & Job Requirements

As your business grows, you may need to enlist the help of others. A junior planner can help with setting up meetings with new and current clients. A bookkeeper can answer important phone calls and help with the administrative side of the business. Employees must be willing to work flexible hours.

Job requirements include the ability to oversee the planning and execution of kids parties when asked, assist with facility selection and booking, vendor negotiations, menu selections, entertainment and transportation.

Approximate Minimum Start Up Cost

Start up costs for a kids party planning business depends on whether you work out of your home or from a separate space, the cost of living in the area you serve as well as your own lifestyle choices and taste.

Running this type of business from home will keep costs low; however, your business will only be able to accommodate the smaller events, especially if you have a limited budget. A home-based business will typically cost around $8,000 to start.

If your business is run from a five hundred square foot office building and you employee others to help with the preparation of events as well as clerical tasks, your start up costs will be closer to $30,000.

12 Steps to starting A Kids Party Planning Business

Before You consider a Kids Party Planning Business, see 16 Questions to Consider Before Starting a Business
1. Ensure A Kids Party Planning Business is for You!

You have a choice as to what business you're going to start, so start one that's right for you. Getting into the right business can dramatically increase your success. Get into the wrong business and your success rate drops. Read Five Secrets to Getting into the Right Business for more information.

2. Understand How A Kids Party Planning Business Operates

How can you run a Kids Party Planning Business if you don't know much about the business? What if you run into an issue that you can't or won't deal with? Then what? You're in a business that you hate working in and that's a problem. See Understand How a Business Operates for more information.

3. Make Sure there is a Profitable Market for Your Business

What's the use of starting a Kids Party Planning Business that is not profitable? You'll be putting all your effort in something that can't support itself or you. There are a variety of issues when it comes to setting the stage for profitability. See Tips for Identifying a Profitable Market.

4. Create a Business Plan For Your Kids Party Planning Business

A business plan is a must for any size business because it helps you stay focused, see the big picture, and get funding. It's something that you create when you start your business and then update as your Kids Party Planning Business evolves. Read our free online guide on How to Write a Business Plan

5. Set up your Business Team

Setting up your team includes finding the right employees and professionals that will help you run your Kids Party Planning Business.

You don't need to employ everyone you work with, but you will need a team of people you can depend on, which could consist of a lawyer, accountant, banker, and consultant, as well as professionals in your industry. See Creating a Business Team for more on this subject.

6. Get a Small Business Loan if You Don't Have the Money to Start

If you don't have the money to get started, then you'll need the necessary financing or you won't have the opportunity to start your Kids Party Planning Business. This can be done as a small business loan, a personal loan, or other small business financing options.

For more on financing your Kids Party Planning Business see our guide on Financing Your Small Business

7. Legalize Your Kids Party Planning Business

In order to run your Kids Party Planning Business legally you'll need to abide by government rules and regulations on the state and local level.

You'll need to do your research, determine what type of business (sole proprietorship, corporation LLC, etc.) to register, create and register your business name, and register your Kids Party Planning Business with state and local authorities.

To go through the business registration process, see Chapter 6: Making Your Business Legitimate, starting with 6 Easy Steps to a Good Business Name.

8. Get Equipment for Your Kids Party Planning Business

In order to run your Kids Party Planning Business successfully and efficiently you'll need to acquire the right type of equipment. How can you run an online business without a computer? You can't! This is an important issue. See Acquiring Equipment for more on this topic.

9. Insure Your Kids Party Planning Business

Make sure you have the proper insurance for your Kids Party Planning Business. Without the right coverage you could lose everything you've worked for. For tips on insuring your Kids Party Planning Business, see our free online guide: Insuring Your Small Business.

10. Prepare To Accept Money

You'll need a way to accept money, you can't depend just on cash or checks. You'll need to accept plastic: Visa, MasterCard, and American Express. To do that you'll need to apply for a merchant account. See Setting Up a Merchant Account for more on this topic.

11. Set up Your Accounting System

Running a Kids Party Planning Business requires you to collect taxes, and report your earnings. So it's best to set up an accounting system in before you start your Kids Party Planning Business. See Setting Up Your Accounting System for more on this topic.

12. Acquire Customers for your Kids Party Planning Business

In order to exist, every business needs customers. Getting customers is one thing you'll need to be good at. If you can master the tasks of getting customers, it's just like turning on a cash machine almost any time you want. See Acquiring Customers for more on this topic

See Also: Our Free Online Guide to Starting A Business

Kids Party Planning Business Issues's:

Estimating Startup Costs - Find out if you're forgetting something

Business Location - Choosing A suitable one For Your Kids Party Planning Business

Build or Buy A Business? - Buying an existing Kids Party Planning Business

Image of kids

Kids Party Planning Business Research:

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Business Builders For Your Kids Party Planning Business:

Business cards for Your Kids Party Planning Business

Business Plan for Your Kids Party Planning Business

Business Insurance for Your Kids Party Planning Business

Small Business Loans: Finance Your Kids Party Planning Business

More Business Ideas:

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