Starting Your own Party Plan Business

marina replied:

HI ,Tobusy mum of 2 - from another busy mum of 2

Welcome to party plans.

  The one thing that you will need first and foremost is plenty of money

- register yourself as a company ( you need to get a good accountant)

-need in place consultant agreements ( need a good solicitor)

Forms, invites, hostess plans, games,  hostess gifts , hostess program. and so on, and so on, you have to create.( research other companies and study what other companies offer) 

Recruiting commissions need to be looked at.  You need to create a compensation plan for your consultants. There is a lot of competition out there and you will have to make it attractive.

Creating a web site ( a computer programmer )

Getting wholesale reps ( advertising costs)., choosing the products you will sell every season will need research- maybe a buyer that you employ), .

Buying these products, a place to store all of them, ( you will need a warehouse, maybe office premises)

Need to organise deliveries- distribution people.

Need to organise packaging , wrapping, receipt book ( business supplies)

Catalogues are a must in every business - you will need an advertsining consultant, models for childrens clothing.

You will also need to work out incentives/ prizes for your consultants to make yor business attractive.

Maybe a car program, holidays etc.

Use the web for research.

There is a good book you can buy How to Start Your Network Marketing, Modern Party Plan or Web Affiliate Company 2006! (Spiral-bound)

Look up amazon. com. It is $169 and will help you.

Good luck

Marina

CuddleBee replied:

I think that it depends on how seriously you are going to take it... you need to register a business name, get an ABN, you could consider trademarking your business name, consider registering for GST, find suppliers, setup a business bank account, setup insurance, storage for stock, printers and designers or design your own to save money, and if you want consultants to work for you then you need to have a contract drawn up to protect yourself and your business, there is a lot to know and I haven't listed it all... hope we haven't put you off as it is exciting... oh and don't forget a big one... Advertising... LOL can't believe i forgot that one!