Starting a party supply shop involves work and details, but the results can be very popular and profitable. The supplies you need to get started are relatively easy to come by. A shop should offer something for different occasions such as birthday parties, anniversaries, holidays, weddings and graduations.
Items you will need
- Business plan
- Proper license and certificate
- Store address
- Wholesale Party Suppliers
- Wholesale party supplies
- Advertising tools
Put together a business plan. This will not only ensure your proper city, state and federal papers are filed, but it will also give you an idea of how to run your business. Think about the supplies you need and where you will get funding. A party store can be a small shop in the corner or a huge store in a shopping mall. It will determine how much money is needed to decide how big the store will be. You understand the employee payroll (if any), advertising costs, inventory costs and any startup fees.
Plan what products and services you will sell. Party Supply Stores can offer a multitude of inventory. Determine if you want to work at a special noun, such as weddings or just birthday parties, or pay for everything related to a party. Start contacting wholesalers to set up the account, so you can supply reasonable price supplies. There are plenty of wholesalers available on the Internet, as well as looking for yellow pages. Consider that helium tanks, tents and other items at many party supply stores pay rent and decide if you want to get involved with this aspect.
Find a location Location is so important to the success of a new business, especially a small business. Renting a store in a high-traffic area is ideal, but it can cost more money than you have to work with. Consider all the cities or towns around you, and then narrow it down to popular malls, shopping plazas, or areas where there are several different businesses nearby. Without the perfect location, the shop can fail quickly, so this is a decision that should not be made light.
Spend a healthy portion of your budget on advertising. Party supplies are always in demand, but if customers don’t know where to look, they won’t be your first store to go. Post flyers around the store, send mailings to locals and advertise in newspapers using the bulk mail rate through the post office. Another option is to advertise on websites that send business to your business, such as children’s websites and bridal websites. Special police offer during the grand opening week. Always use word of mouth as a free and effective form of advertising.
- When entering into a relationship with the seller make sure you keep the signed papers. Customers need to sign in to use rental equipment if needed. People shopping for party supplies are usually happy, so you must be pleasant and helpful when dealing with customers. If you are a small startup, probably the only niche and find success, you can grow over time. Once you’re on the go, visit party supplies as well as party supplies online.