Start a Home Based Party-Planning Business

 

In a typical stetting, the father takes care of the financial needs of the family by working hard and bringing home a paycheck twice a month. The mother, on the other hand, takes care of budgeting. Nevertheless, living from paycheck to paycheck has gotten more difficult during the past couple of years. The volatility of the economy has prompted many families to look for ways to augment their income just to keep their children in school and see to the other needs of the family. In most cases, the mother has no choice but to secure a job for herself, too. However, this is a moot possibility if there are younger kids that need special attention.

If you find yourself in the same predicament, what are you supposed to do? Well, you can always set up a home business. Many successful entrepreneurs started small and you can see where they are now. Ask yourself what you’re good at and use that to your advantage. For instance, as a mother, you have probably planned numerous parties for your children. You can use this as inspiration to start a small party planning business right from your home.

Since you’re going to use your home as your office, you don’t need to shell out money to rent an office space, pay for utilities, and pay a work force. With as little as $1,000 (or even less), you can start the business rolling. Using your computer at home, you can print out flyers and brochures to inform people in your neighborhood about your business. You can even start an email or text brigade to let friends know they can contact you for their party needs.

You can use the rest of your start-up capital to take care of the legal aspects of your business and to pay for other things that you need to plan your first party. The Internet would be an invaluable tool, as you can use it to search for suppliers that can give you good deals on party supplies like wholesale balloons and more. These suppliers are a godsend to entrepreneurs since they offer flexible rates and deliver supplies within 24 hours after you order from them. This is perfect especially since time is of the essence for a party-planning business. Moreover, many of these suppliers offer a wide selection of products. Hence, if business is good and you decide to broaden your horizon and venture into other businesses, they would be more than willing to help you out.

According to business analysts, the break-even time for this kind of business is from two weeks to a year. That means if you get started with your very first party, you would have earned as much as your start-up capital without breaking sweat. If you enjoy what you’re doing and you’re good at it, you won’t look at it as a way to keep you and your family out of debt. Instead, you would look at your business as a fun venture that allows you to explore your creativity and put it to good use.