business idea

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merzie

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i always loved planning parties for kids and i now want to start it up as a business. i have lots of ideas and even have flyers made but i need a kick start. can you help ? also do you think there would be a demand for this type of plan. its just so many parents are working full time now and dont have time for much else unfortunately.
 
Sounds like it might work but do you have a network of magicians, clowns, caterers, bouncy castle companies etc?
How do you intend advertising? The golden pages and local supermarkets would be a good start but what sort of budget do you have?
I would think that you would need to put some money into it at first as most of your work will come from word of mouth if it takes off. I would also suggest you target high-income areas (cash rich and time poor and all that).
 
Purple said:
Sounds like it might work but do you have a network of magicians, clowns, caterers, bouncy castle companies etc?
How do you intend advertising? The golden pages and local supermarkets would be a good start but what sort of budget do you have?
I would think that you would need to put some money into it at first as most of your work will come from word of mouth if it takes off. I would also suggest you target high-income areas (cash rich and time poor and all that).
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i am in the process of approaching local companies. like bouncy castles , bakeries, balloon and paper plates and so on. i have some money to start me off . any ideas on how much i would need, this is all new to me.
 
The best person to figure it out is yourself: don't expect anyone to do your work for you.

My advice would be to check out the competition, and there's plenty of it out there. Who are they, what do they do, how much do they charge? This will allow you to estimate potential income. Be very conservative on your estimates, though: it will take time to build sales.

Then you need to look at the cost side: overheads such as equipment, premises, transport, insurance, staff and any supplies you'll need.

You should talk to as many people as possible in the area you're looking at to get a good understanding of the issues involved. Maybe even get a part-time job helping someone out in a similar business?

When you have all your information, prepare a budget showing income and expenditure over a couple of years, and then figure out if it all makes sense.

Best of luck!
 
i always loved planning parties for kids
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Are you doing this because it makes good business sense, or because you simply enjoy the work?

If you make a business out of it, there's a possibility that you'll no longer enjoy planning parties, especially when you have to start dealing with moaning parents that didn't like the clown etc...

To find out if there is demand, check to see if there is competition. Do a simple cash flow analysis as well before you continue spending money on the venture.
 
The cost per head per child for a 2 1/2 hour party with a party host and food is currently €14.99 in a well known complex. The benefit to the parent is the children are dropped off and collected with no mess in the home. The benefit to the children is bowling, quazar (sp?). My son has had these parties for the past 2 years, he is now 8. These parties are popular until age 10. Your idea is good but this is the competition.
 
thanks for all the feed back please continue to send it. good or bad its all beneficial
 
Do a good business plan before you put any type of money into your venture. Seriously, I got a great book from Amazon and it shows basic concepts of starting a business and puts your idea through it paces. Its called the New Business Road Test
 
There is a franchise operation for something similar to your idea, can't remember what it is but can find the details of it in the Franchise magazine. Perhaps you could plug them for some information as a 'potential' franchise purchaser?
 
Try your local county development board for assistance and information on start your own business courses.
 
The problem with event management for kids parties is that your only as good as your staff there on the day. Which if it is you yourself then ofcourse you'd put in 100% effort and (hopefully) do a great job, but when your trying to grow the business past just owning a job, it becomes very difficult to skim a decent living and you have to have very reliable & trust worthy staff. Its rather difficult to find people with entuasim to keep 7-13 year olds entertained.

I was involved in a similar business in the market your looking at, you can expect 200 - 650 Euro based on 3hours at the high end. If you want to talk to someone with some experience in the market, i'd be happy to give you a small amount of my time.
 
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