26. Party Rentals
Where there are children involved, there will be money that will be spent on them. The party rental business is for those who have a love for children. There is a lot of planning that is needed and requires someone who is well organized. Parents spend a lot of money on their children. For instance, the International Association of Amusement Park reported that the average revenue for hosting a child’s birthday party was around $370. This business can be done by having a mobile service where you can go to the place of the event. It can also be done by getting your permanent place or reserved park and wait for the bookings. In either case, the business involves planning the party, decoration, providing entertainment, meals, beverages, games, and contests. The idea is for the kids to get lots of fun and their parents as well.
The charges for the party services vary depending on the activities but the starting fee is normally $20 per guest. It can go as high as $100 per guest for those that are highly personalized. The overhead for the business is between $200 to $5,000. This will depend on the type and amount of equipment that you want. You can get water slides, games, lightning, and bouncy items. For inflatable equipment, you will get a blower, liability insurance. Having a company-branded vehicle will easily market your services. The fuel costs and insurance will take part of your start-up budget. This business is all about visibility and excellent services. You can use social networks for instance on Facebook, Twitter, and Instagram to market your services. The work involves a lot of time in setting up and taking down the equipment. In the beginning, marketing activities can be hectic.