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Start a Party Supplies Business

What you will be doing.  When it comes to planning a party, there are so many details to consider.  For one person, this can be a big job.  You can find yourself running from one place to another picking up supplies, food, and other items.  It can be exhausting. 

Party supplies differ for each type of party occasion.  Wedding receptions, children’s birthday parties, adult birthday parties, retirement parties, office parties, holiday parties, and the like need specific decorations and accessories.  The more items that can be purchased or rented from you, the more popular your business will be. 

How to start.  Use a business plan to decide what your niche market will be.  You can offer party supplies across the board for several different functions or specialize in one area.  You may only want to sell supplies and not deal with the rental of equipment.  Or, you may want your business to include it all. 

Whichever you decide, check with the local courthouse to see if you need to have a license to run your business.  Registering your name is a good idea so that you won’t conflict with another business with the same name.  An online component can be a part of your business or the entire business. 

Once you have the business plan ironed out, go to work acquiring your inventory and any equipment for the home office.  If you decide to rent equipment out for parties, you will need to have a contract in place for clients to sign that spells out the cost to them if the item is returned damaged.  The contract also needs to specify whether the items will be delivered or need to be picked up and dropped off by the renter. 

Starting costs.  A small business loan may be needed if you plan to rent equipment.  The equipment will need to be purchased by you.  A wholesaler or furniture stores going out of business will give better deals on price.  You will also need a place to store the equipment when it is not in use. 

If you do not plan to rent, but only sell party supplies, the business start up costs could range from $500-$1,000.  This includes advertising, inventory, and inventory storage containers.  If you need to purchase a computer, printer, software, or a fax machine, this will drive up the costs. 

Skills needed.  Creativity and a magnetic personality are sure to benefit you in this business.  The more ideas you have to expand the business, the more choices your customers will have.  Locally, you may have to meet people face to face especially if you rent party supplies.  Good customer service and a friendly smile help with repeat business. 

Marketing.  Advertise your new business on flyers in mailboxes, at daycare and day camps.  Also, place ads in newspapers, online websites, and auction sites.  Party planners are always looking for ways to save money on their supplies.  Caterers may find your business appealing if they can buy all of their decorations for an event from your business. 

In addition to selling items individually, developing packages that save money for the client are a positive selling point.  A break on the price of cups, artificial flowers, napkins, and other items as a wedding reception bundle may sell better.  The same goes for baby showers and other events.   

Party supplies will always be in demand.  Your business can offer new solutions for party planning stress that will bring a satisfying bottom line to your venture.

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