Sources of income in the party needs business

Many people nowadays are aware that the best way to achieve financial freedom is to have their own business. Risky as it may seem but if you know how to manage it well, you will surely accomplish your goals – they say “being your own boss” has its downside but definitely, the advantages and opportunities are limitless. Depending on what you love to do, you have the ability to earn your well-deserved income in due time if you try to be the best in what you do – for us, becoming a trusted balloon shop and party needs business is our way of earning the needed income to finance the family needs.

There are several sources of income in the party needs business. Aside from affordable Balloon Decoration Packages, you can also earn from Tables and Chairs Rental, Sound System Rental, Lights Rental, Personalized Giveaways, Party Entertainers (Clown Host, Balloon Twister, Face-painter, Magician, Bubble Show) and many others.

Income sources of party needs business

Because they want to become the best balloon shop in the Philippines, the main income source of Cebu Balloons & Party Supplies is their balloon decoration service. Aside from selling the standard stick and flying balloons with print, they also sell their affordable decor service to their clients. The party items, such as pre-made invitations, loot bags, party hats, pabitin, etc are the next in the list. The party supplies are an income generator but the profit margin is very low because of the competition. There are already hundreds of party needs suppliers in the country and most of them are selling their items at extremely low price so the only way to be in the competition is to either join the price war or innovate new ideas and sell it at a good price – Cebu Balloons is leaning towards the latter.

Rental for Tables & Chairs and Lights/Sound System is also a good way to earn in this challenging balloon business. The problem with this is that you need a vehicle to deliver the items and pull them out after every event. If you don’t have a vehicle, it’s a challenge to tell your customers to get the items in your store or house and return it after the party because many customers, based on experience, prefer a hassle-free service (and pay extra) rather than get their sweat out during their son or daughter’s big event.

Party Entertainers, Tarpaulins, Party Favors are also great sources of income. If you cannot afford to hire full-time employees, getting the services of third-party suppliers may be a bit challenging but once you learn the system, you will get used to it. Just be honest with your clients about having pre-evaluated freelance suppliers and they will surely appreciate it. Customers do not mind if you are earning from other people’s services because they know you spend time and money for marketing, advertising and selling their services of the freelancers. Clients also know you are paying monthly rentals, taxes (legit shops), store attendants, electricity, water, etc. Being honest and offering professional services to your clients is the best way to earn because they keep on coming back and they bring in more clients in the future.

Summary List of Income Sources for Party Needs

A. Balloons
B. Party Items (Invitations, Pabitins, Party Hats, etc)
C. Tables & Chairs Rental
D. Sound System Rental
E. Entertainment (Clowns, Magicians, Balloon Twister, etc)
F. Personalized Items (Tarpaulins, Standees, Giveaways, etc)
G. Others