How to Start A Kids Party Planning Business

Starting A Kids Party Planning Business - Background Info:

Starting a children's party planning business is a great way to earn money and help children and parents enjoy wonderful occasions.

A normal day may start with early morning preparations for an afternoon party. After packing up, you may have meetings with a different client to work out details for their party.

Depending on your business plan you may also have to cook meals and cakes for your afternoon party. After all the preparations are done you will have to drive to the party location and begin setting up.

You may have to coordinate with the caterer and any other entertainment that will be there like clowns. After the party you will have to tear down your equipment and return home.

Children's Party Planning Business Considerations

There are a few things to consider before you start your children's party business. First, decide whether or not to have an office and shop. Having the space will bring credibility and give you a place to showcase and store your equipment. However, it can be expensive to rent or buy commercial property.

Also, consider the different services you plan to offer. You may only supply games and activities and coordinate with other party professionals such as clowns or face painters. You may need to cater and also supply a DJ.

The more options you provide, the more business you can bring in. However, special equipment can be expensive to purchase. Finally, consider buying a franchise like Oogles n Googles. This can cost some money upfront but gives you name recognition as well as a proven business model.

Tasks, Skills, and Issues, Needed To Run This Business:

Whether you do all the work yourself, hire, or subcontract, here's a list of tasks, skills, and issues that need attention:

Marketing, advertising, networking, sales
Staying current with business matters such as licenses, insurance, and permits
Website maintenance and marketing
Money management
Problem solving skills
Tracking invoices to clients and expenses
Scheduling parties and other vendors
Shopping for party supplies
Organizing equipment
Loading and unloading equipment
Setting up different pieces of equipment
Cooking (possibly)
Face painting or clowning (possibly)
Working with Parents and children
Ability to work well with children
Flexibility with hours
Coordinating party elements
Calculate estimates
Catering skills
Etiquette knowledge
Great multi-tasking skills
Possess a high level of creativity and imagination
Know space requirements for certain events
Patience
Fun personality

Approximate Daily Hours Needed:

General Hours of Operation: Children's parties usually take place on weekends and normally last 4-5 hours. However, you may have a shop open during normal business hours such as 9 am to 5 pm

Setup takes about 2 hours, breakdown takes about 3 hours, and additional hours are taken during the week with keeping track of inventory, meeting with clients, and party preparation.

Employees Needed To Run This Business:

During the start up phase, you can run this business single-handedly. Once your business is up and running successfully, you may need to hire the following:

Record/Bookkeeping
General office administration
Party setup
Food servers
Cleanup
Transportation

Licenses:

In addition, to a business license, you will need a need a Federal Employee Identification Number (EIN), and possibly incorporation paperwork such as an LLC.

You may also need a catering license or pass health inspection requirements if you are creating and serving the food and drinks yourself.

You should also investigate obtaining a liability insurance policy (children can choke on a toy or party favor). You may also need to do background checks for our employees.

Approximate Minimum Start up Cost:

Entrepreneur Magazine estimates that the average start up costs for a children's party planning business may be less than $2,000 USD.

Necessary Equipment to Run this Business:

Necessary Start-Up Equipment & Supplies:

Vehicle

Activity supplies

Food service supplies

Food supplies

Cell phone

Cleanup equipment

Tables and chairs

Supplementary Equipment: - Equipment or helpful products that you can acquire to once your business is off and running:

Commercial grade transportation

Themed presentation materials

Warehouse or storage facility

Helium for blowing up balloons

Air compressor for blow-up toys and tents

Costumes

Monthly Expenses To Consider:

Equipment Rental Fees
Food Supplies
Vehicle Payments
Office rent or lease
Activity supplies
Wages
Phone/cell phone
Internet access
Permits
Advertising/Marketing
Utilities

Pros And Cons:

The Pros of Running a Kids' Party-Planning Business:

High Demand Business

It's a fun business

It can grow into other, complimentary areas such as cake-baking/decorating

Flexible hours

The Cons of Running a Kids' Party-Planning Business:

Kids can be hard to handle and kept from being bored

Weekend hours are your primary work hours

It can be slow and/or competitive according to your area and the economic climate

Type of Customers You Need to Attract:

Your customers will be parents and kids who just wanna have fun. Send brochures to moms and dads in your area. Write fun, informative articles for local newspapers.

Place ads in the Yellow Pages and in local publications.

Kids' Party-Planning Business Statistics:

According to White Hutchinson Leisure and Learning Group, the children's party planning business is a multimillion dollar a year business. Which has seen an 20% increase in annual spending in the last 15 years.

Revenue:

According to foundvalue.com, the fee for a basic party can start at $500 USD while more extravagant parties can exceed $3,000 USD.

Resources:

Industry-Specific Websites:

Filmark's Party Planner

Party POP

Courses:

Children's Event and Party Planner Kit

Equipment and Supplies:

My Punchbowl

Oriental Trading Co.

Forums:

Party 411

WAHM

Franchises:

Oogles n Googles

All Business Party

1-Hour Parties

Associations:

Event Planners Association

International Special Events Society

Software:

E-Touch

Other:

Birthday Party Ideas

Amazing Moms

My Party Planner

Women Home Business

Related Businesses:

Kids' costumes
Entertainer (clown, DJ, etc.)
Catering
Bakery - Cake Decorating
Party Supplies/Wholesaler