20 Profitable Event & Party Business Ideas

Are you looking for profitable party business ideas?

if you are passionate about offering people a good time you can turn the passion into a profit by launching your own party business.

The events industry is still going strong - even if that may look a little different than before.

Although many events are going virtual and parties are looking smaller, there's still a huge opportunity to innovate in the space and build a profitable event and party business.

We've identified 20 business opportunities in the events space to get the wheels turning for you.

1. Start an event management company

Do you have a basic understanding of events, possess great communication skills, and aren’t afraid to talk to C-suite executives, event attendees, donors, brand sponsors, and vendors?

Event management is a profession that is growing rapidly. Experts estimate that the event management and planning industry will experience a growth rate of 10% in a few years.

You can use your skills and passion by starting an event management company. Event management is not only an exciting career, but it is also a profitable business opportunity, with endless opportunities, you can focus on social and entertainment events, and corporate events, or become a general event management company.

2. Start a virtual events business

It is no secret that the 2020 global pandemic changed how we interact and engage. Today, more meetings and events take place online than ever before. According to statistics, the trend of virtual events is not slowing anytime soon. Corporates and entertainment sectors plan to organize more virtual events in the coming decade.

Thus, starting a virtual events business can be a great idea.

A virtual event is where attendees experience the event and its content online rather than being physically present. A virtual events business ideates, plans, organizes, executes, and coordinates virtual events on behalf of its clients. A virtual events business also develops creative ideas that make the virtual events unique and memorable.

To start and operate a successful virtual events business, you must possess broadcasting and audience psychology skills and be ready to learn and deal with new technologies. The good news is that you have multiple platforms where you can run virtual events.

3. Start a balloon decor business

Balloon decorations involve the creation of balloon-based arrangements and thematic shapes, covering backgrounds, ceilings, walls, columns, centerpieces, and entrances within the event and party venues. Balloon décor is popular in corporate events, entertainment and social events, children's parties, and weddings.

Balloon décor is a low overhead business and can be a profitable entrepreneurship opportunity. You do not need a storefront as you can work from home with a few pieces of equipment. You need proper planning skills to start and operate a successful balloon décor business. You should plan and analyze every step and challenge before starting the business.

4. Start a party planning business

Party planning involves budgeting, establishing party timelines, selecting and reserving ideal party sites, acquiring permits, theme décor, and coordinating party catering and transportation.

Are you organized, creative, and client-focused? You can put those skills into starting a successful party planning business. To become a party planner, you must desire to help other people enjoy themselves. Besides, you need diplomacy, salesmanship, and multitasking skills.

5. Start an Event and after party cleaning business

Event and after-party cleaning business depends upon corporate and individual customers celebrating various events and hosting parties. The party and event organizers do not worry about cleaning utensils or cleaning the event venues.

Starting the event and after-party cleaning business requires the proper planning, maid, and janitorial skills. To start, purchase the appropriate cleaning equipment and hire skilled venue cleaners.

6. Start a party supply store

If you love fun activities and helping other people enjoy their parties, starting a party store in your neighborhood can be a rewarding and profitable business.

Party stores sell balloons, decorations, costumes, novelties, confectionaries, theme party wear, and other party supplies.

If you are starting a party store, you may choose to join it as an affiliate or enter a franchise. A party store is a low-to-entry business venture and can be rewarding in the long run.

7. Start a wedding rental business

Do you love wedding planning and looking for a business idea to turn your passion into profits? Starting a wedding rental business can be a great idea.

Your role as a wedding rental business is to supply all equipment and accessories to make the occasion colorful and memorable for attendees and the wedding couple. If you are starting a wedding rental business, focus on building relationships with wedding planners and event companies. Remember often couples visit wedding venues before even contacting a rental company. Being in contact with wedding venue business owners could get you repeat business.

8. Become a wedding planner

A wedding planner assists with designing, planning, and managing a wedding, so the bride and groom have the happiest day. Wedding planners enjoy a flexible working schedule and opportunities to travel locally and globally, and it’s a great career with numerous growth opportunities.

To start a wedding planning business, identify your target clientele and study their wedding cultures so you can offer the clients excellent service. Remember, excellent wedding planning is all about having the passion and knowing how to harness that passion for designing weddings that bring out the emotions of those in attendance.

9. Start a catering business

A catering business is responsible for providing food & beverage-related services for vast types of events.

Catering businesses are known to be more flexible than other businesses because they don't have to worry about location or pricing and can even work 24/7. They can cater anywhere and offer any price point that they want.

However, starting a catering business requires a lot of planning. To start a successful catering business , you'll need to plan and prepare menus, manage budgets, handle clients, and more. In addition, catering allows you to meet more people and show off your cooking skills.

10. Start a Greeting Cards Business

People use greeting cards to mark births, deaths, graduations, anniversaries, and other parties or events. If you love helping people celebrate special occasions, starting a greeting card business can be a great business opportunity.

When starting a greeting card business, choose a potential niche and write a business plan. Then, find an ideal spot to sell the greeting cards. For instance, you can offer greeting card design and posting services, so customers can choose the best designs and post greeting cards online.

11. Rent party & events venue

Businesses use event venues for various purposes, including meetings, tradeshows, conferences, product launches, etc. On the other hand, individuals host birthdays, weddings, and other celebrations at event venues.

According to the latest statistics, the events industry is growing rapidly. Events provide a great marketing tool for businesses, and events are crucial for strengthening relationships.

The demand for event venues increases as individuals and corporates host more events annually. If you have some unused space and are enthusiastic about hosting events, you can start an events rental business.

To start, choose a niche, and market your business. You can focus on corporate events, social and entertainment events, or general venues suitable for any setting and party theme.

12. Become a cake decorator

Cake decorators order baked cakes and decorate them for birthdays, weddings, and other special occasions.

The primary role of a cake decorator is designing the graphics and using cake molds and other decorating elements to create a unique appearance.

13. Become a face painter

Popular at children's parties, weddings, and even some corporate events, face painting is a great creative activity that sparks joy among people of all ages.

If you love making people happy and helping them celebrate different events in life, consider starting a face-painting business.

If you are planning to start a face painting business on a professional basis, it would be wise to take an introductory training course to learn the basics of face painting and the safety and health precautions involved in the business.

14. Start an A/V equipment rental

Buying AV equipment does not make sense unless you are an event organizer or your company runs multiple events annually. Instead, businesses prefer hiring AV equipment rather than investing thousands of dollars in buying the equipment for a single event.

An audiovisual equipment rental business offers event or party organizers the right equipment to make the events a hit. The AV equipment rental business offers bundled packages to add technical perfection to any type of events their customers are looking to host.

Starting an AV rental business can be capital intensive, but given the rising demand for AV equipment, it can be profitable. If you plan to start the AV equipment rental business, remember there is high competition. Therefore, you have to ensure aggressive marketing to attain the business objectives.

15. Start a game rental business

Parties and events are a way for attendees to indulge in fun activities. One way to enjoy the event is by playing games at the event venue. If you are passionate about event organizing and entertaining event attendees, you can turn your passion into a profitable business by launching a game rental business for events.

Game rental businesses are highly affordable to start compared to other niches and can turn to a profit much faster. Your target market can include corporate team-building events, children's parties, wedding parties, and other social events.

16. Start a holiday decorating service

Holiday decorators make the interior and exterior of businesses and homes festive. While the holiday decoration business is seasonal, it is also highly profitable and requires minimal startup investments. You do not need any special training to start the holiday decorating business. However, being creative and having experience in decorating is crucial to running a successful business.

17. Become an event promoter

An event promoter is a professional responsible for marketing and promoting events such as concerts, conferences, speeches, festivals, and sporting events.

Event promoters can work as independent contractors or for a specific organization. The core responsibilities of event promoters include conducting research into the intended audience and setting up and running social media campaigns, among other duties.

To become an event promoter, develop communication skills, be proactive and learn how to organize and influence people to attend the events.

18. Become a local event artist

Event artists make the audience more centered, increase event PR, attract new artists, and build a good brand profile.

Becoming an event artist is easier than you think. All you need to do is choose a niche and work on attracting foot traffic to the events. Be creative and work on your communication skills.

19. Start a special event security

The event security business takes care of event venues’ safety and security. The event security team works towards enhancing the guest experience and takes care of security strategies, risk assessment, threat and vulnerability protection, and more services to enhance the guest’s experience.

To start an events security business, hire staff who understand crowd-handling strategies and how to respond to emergencies. A good security company commits to safeguarding event attendees’ cash and valuable items.

20. Become a mobile DJ

Mobile DJ carries their DJ kit with them and entertains clients at weddings, birthdays, and corporate parties or events. There is plenty of demand for mobile DJs, and customers will pay well to be entertained at their premises or parties.

To become a mobile DJ, first, learn the art of DJing, specifically how to DJ open-format style. If you are a beginner, enroll in online classes where you will learn the best DJing practices.