Start A Party Planning Business - Business Ideas

Start A Party Planning Business - Business Ideas
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.

Starting a party planning business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell party planning services, or selling party planning services online, you can use this page as a guide for everything you'll need to know.

Key Stats

market size
$12.7B
starting costs
$11.7K
gross margin
90%
time to build
210 days

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $0 $7,000
Employee & Freelancer Expenses $150 $250
Website Costs $223 $7,015
Business Formation Fees $600 $4,700
Software Expenses $162 $2,894
Advertising & Marketing Costs $0 $1,400
Total Startup Costs $1,135 $23,259

Successful Businesses

Business URL Rank
Whova whova.com #13,820
Business Town businesstown.com #41,351
Smart Meetings smartmeetings.com #383,205
The Party People thepartypeople.com.au #547,910
QC Event School qceventplanning.com #589,651
The Event Planner Expo theeventplannerexpo.com #710,910
Party Pieces partypieces.co.uk #716,778
NSFW - The New Society for Wellness ns-fw.com #769,913
All Time Favorites - Event Planning Resources alltimefavorites.com #1,129,635
Event Planning Blueprint eventplanningblueprint.com #1,208,340
Little Miss Party littlemisspartyplanner.com #1,741,161

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a party planning business costs significantly less money than most businesses, ranging anywhere from 62 to 23,259.
Rewarding work Starting a party planning business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your party planning business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Cons Description
Crowded Space Competition is high when it comes to your party planning business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Longer Sales Process A party planning business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a party planning business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a party planning business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a party planning business, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a party planning business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Marketing Ideas

  • 1

    Affiliate Program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

    Learn more about affiliate program ➜

  • 2

    Direct Sales

    Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.

    For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

    Learn more about direct sales ➜

  • 3

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

    Learn more about word of mouth ➜

Pat Walls,  Founder of Starter Story
Want to start your own business?

Hey! 👋I'm Pat Walls, the founder of Starter Story.

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