Career Testing
Career Testing
Career Testing
ENTREPRENEURSHIP / MAY. 20, 2014
version 3, draft 3

How to Make Profit as a Party Planner

Everyone loves a party - and from birthdays to bar mitzvahs, there’s something to celebrate pretty much every single day of the year. - Whatever the occasion or budget, many people require the elite services of a party planner to help them impress and dazzle their guests.

So, if you love parties and consider yourself an aspiring Steven Duggan or Diann Valentine, how do you turn all of these special occasions into a bonafide money making machine?

Well, the first and most fundamental thing to consider when starting out as a party planner is to carefully consider your rates by researching your costs (anything from ribbon to red wine) and what your outgoings will be for an average party, then ensuring your profit margin is healthy - you can’t make money if you’re charging peanuts! This brings me neatly onto my next point…

Organise your Portfolio

Once you’ve got your website, blog and social pages up and running, and your business cards at the ready, you’ll need clients - and in order to get clients (and start making a profit), you’ll need a portfolio. With this in mind, a great way to get the ball rolling is to offer to plan a party for a friend or relative. Kindly tell them that if they provide the capitol for the food, decorations, booze etc. then you’ll work for free.  This is a priceless way to learn your craft, identify any potential issues and get the confidence you need to keep on going. Grab some pics; edit a short, slick video of the occasion, grab a testimonial and then shout about it on your blog, website and social media pages.

Now you’ve got the business up and running, done a trial run or two, gained some experience and documented it, what’s next? Here are five quick fire tips to help you make party planning profit:

Network

Networking is essential. As well as online, do it in person and sell yourself with a pitch at events such as wedding fairs. For example, set up a stall, target recently engaged brides to be and offer your services - talk about the benefits right off the bat and you’re sure to start spinning trade.

Offer Incentives

Offering rewards, bonuses or incentives is a good way of developing long-lasting and lucrative client relationships. Offer a 10% discount for all first time customers to attract people to you, and once you’ve delivered an amazing party, offer them a small monetary or material (bottle champagne for example) bonus for any successful referrals to friends, colleagues and family - you’ll be swimming in business in no time!.

Turn to wholesalers

Get yourself a wholesalers card or two. Places such as Costco are fantastic for bulk buying party materials at very competitive wholesale prices - get a membership card, stock up on essentials such as beer, wine, decorative materials and you are certain to save money, therefore, leaving more room for a tasty profit from your parties.

Blog

Blog regularly. Blogs are a great way of engaging with your target audience and by writing about regularly searched, trending party topics, you’ll improve your online visibility, meaning that more people will find and you’ll make more money. Plus, if you’re an authority on all things party related, people will be more inclined to trust you with their big day.

Be Realistic

Don’t bite off more than you can chew. Unlike other lines of work, you can’t pause, delete or edit a party once it’s in motion. By taking on too much, you’ll get tired, sluggish, forgetful, cut corners and make mistakes! It only takes one poorly delivered party to ruin a reputation so be good to yourself and don’t be greedy - it will backfire!

Establishing yourself as party planner isn’t the easiest thing in the world to do, but if you present yourself and your services in an attractive way, get the initial experience you need and shout about it from the rooftops, you will end up a living – and a decent one at that.

After all, as I said at the start - everyone loves a P.A.R.T.Y!

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