Know Business: How to Start a Home-Based Party Planning Business in Singapore
It is Fun to Start a Home-Based Party Planning Business but Be Ready to Work. Party planning sounds like a lot of fun, but it entails more than having picking the right caterer and venue to make it a lucrative source of income. You also need to be diplomatic, good at multitasking, an excellent sales person, and you should have the desire to help people have a great party. The engagements you will encounter may be on product launches, weddings, seminars, and awards nights. The number of tasks can include hall rental, making invitations, thinking of a theme, entertainment booking, and choosing the food that will be served. There are a lot to be considered when you want to start a home-based party planning business.
Be Specific on Your Niche
Before launching your business, narrow down on the kind of party planning you want to offer. Once you have successfully planned a party for your family or friends, and have volunteered for others, you will know. In case you have not planned for special occasions, determine if you prefer wedding planning or working with busy moms who plan celebrations for children.
Have a Business Plan
You cannot just any business without a plan. You have to outline the service you will do, decide on the prices and project your finances in the future. During this time, you should have already decided your niche. This will also help you in finding out how much you are going to charge for the services you offer. Remember your clientele and the kind of event they want. Corporate events and weddings expect a lot in comparison to office parties.
Create a Portfolio for Event Planning
During the planning process, make time to create a portfolio for event planning. Your customers will ask you for this and they are able to have a better idea of what you do. This is not difficult to do because it can be an album with the pictures of the past events you did, and other details. In case you have zero experience, put together a couple of creative ideas you would like to use for the events.
Business License and Contract
You will be more confident to offer your service if you have a business license and insurance for liability. Furthermore, your clients will feel more secure with your service because they know you are accountable if something goes wrong.
When you are writing a contract, it is advisable to ask the help of a lawyer to make sure that you cover all legal ramifications.
Have a Dedicated Workspace
Since you will be doing it from home, you can choose your own workspace. Ideally, it should be a room that gives you privacy to brainstorm ideas instead of hearing the noises around you- this could ruin your concentration. The room could also serve as a meeting area for your clients.
The main factor in any business is having the right discipline especially if you are doing it from home. Your commitment to clients should never suffer because they will depend on you. Even the nitty gritty details have to be properly planned. Being your own boss is great but it requires a lot of dedication.