Are you organised, sociable, and fun? If yes, you may want to consider any of the party business ideas we are going to discuss in this article. When you attend a party, you will discover that there are several contributors to the success of the party. For every successful party, some fellow smiled to the bank. Starting a party business idea is not only profitable but also exciting.
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Interestingly, starting this line of business does not require breaking the bank. It is not expensive to start and is also straightforward. Importantly, note that no matter how straightforward a business model is, you cannot enjoy the full opportunities in the business if you do not put in the required work. That said, follow all the party business ideas listed here closely and choose the one that resonates with you.
Thinking of a lucrative business to start? Get 35 Booming Business Ideas And Step-by-step Guides To Start Them; A Strategic and financial breakdown of the most lucrative businesses in Nigeria.
Ten Party Business Ideas To Start In Nigeria
1. Gift Business
Sharing gifts to party attendees is an activity millions of people undertake every year. Gift business creates huge amounts of revenue especially when you sell in bulk. Actually, there are various ways to start a gift business. Firstly, you can start as a freelancer and I will tell you how it works.
Get a list of several gift items from a gift shop, combine them creatively, take a picture of them and offer it at an affordable price. Party organisers most times get confused about the perfect gift to give to their guests and wouldn’t mind you taking the stress off them.
I’ll advise that you have gift items that suit different occasions. Also, the gift items you go for will be determined by your target audience. For example, you can have gift items for the low, middle, and high class. Additionally, partner with printers that will help you brand the gift items to suit your client’s needs.
Secondly, you can start a gift basket business. This business is very lucrative during the Christmas period. Once you select the perfect gift items, you will then arrange them in a beautiful basket using a wrapper to decorate it. You need a flair for creativity and good networking skill to succeed in this business.
Thirdly, you can open a gift shop where party organisers can visit to purchase their gift items. This is more expensive to start when compared to the previous options. However, if you have the required capital to get a store and stock it, you are good to go.
2. Party Clean-up Service
This is also one of the party business ideas you can start and make money. Party clean-up service requires little or no cash to begin and you’ve got nothing to lose by starting it. Before now, cleaning service is seen as a dirty job for the less privileged but time has proven that to be a myth. Don’t forget that there are no menial jobs, only menial minds. Party organisers are usually too tired or occupied to clean up when the party is over. This opens up a business opportunity for you.
Besides, it is not compulsory that you at the forefront of the cleaning activities. You can hire people to do it while you pay them from the payment you received.
3. Party Planning
Party planning involves organising, coordinating, and executing all kinds of special events. Basically, they work in a variety of fields, handling all aspects of weddings, birthday parties, corporate gatherings, or anniversaries. Many party planners start out working from home. Actually, starting this business from home is a smart choice as it keeps overheads down in those critical early stages.
To start party planning, you need to get as much experience as you can, in all forms of event. Getting experience in this field is the best investment you will ever make. For a start, you can work with event planners as a volunteer. In the party planning business, your network is your net worth, so learn to network and always follow up.
4. Traditional Wedding Compere
This is another very exciting party business idea. Have you been to a Yoruba traditional wedding where someone anchors the program in an entertaining and funny way? You will agree with me that traditional wedding comperes are one of the reasons people love attending traditional wedding ceremonies in Nigeria, especially the Yoruba tribe. Apart from the initial charges wedding compere receives, they equally get more than enough money when on stage. People spray them money when they are impressed by their expertise.
Being a traditional wedding compere requires learning because there are two major players during the engagement. The Alaga Ijoko (Sitting MC), representing the bride’s family, and Alaga Iduro (Standing MC), representing the groom’s family. There are different approaches to both so you need to learn from an experienced person.
Usually, some traditional wedding comperes double as MC, anchoring the wedding reception as well. But if you are not interested in being a traditional wedding compere, you can be a modern MC at not just wedding events but other types of events.
MC’s are good at articulating their words and coordinating events in an interesting manner. If you are good at what you do, it’s easy to get customers from the attendees of the event. One way to know if guests are satisfied with your service is that they will request your business card after the event.
5. Mobile DJ Business
Here is also one of the party business ideas to start in Nigeria. If you get the gigs of mobile DJ business, you’ll make a good living at it. The first thing you are going to need to start a mobile DJ business is the equipment and it is the most expensive part of setting up the business. It is important that you purchase quality equipment so it can last long. Once you get the equipment, you need to get good playlists that’ll entertain your audience.
Also, you need to market yourself in a way that attracts potential customers. When you start a mobile DJ business, nobody will know who you are until you’ve built your brand. You can open different social media pages, post your demos and encourage your friends to share as well.
Here are some of the equipment you need to purchase:
- DJ Turntables
- DJ Cartridges
6. Party Rentals Business
If none of the party business ideas listed so far interest you, here is a business idea with high demand. Party rental business helps party organisers reduce costs. Rather than buying equipment that’ll become useless for them after the event, they’ll prefer to rent the items. There’s quite a long list of items you can rent out as party rentals and we’ll be discussing some of them here.
i. Party Venue Rental
Most party organisers need a space to host their guests, except for some with very large space in their house. So, if you have an extra space or hall, this is a steady business for you. Rent out space and get paid for it. The location and the neatness of your space will determine how well people will patronise it. So, put in the effort to make the space attractive to your prospective customers.
ii. Car Rentals
There are lots of people who would love to hire a special type of car for their wedding or other types of events. It’s pretty simple to start. You can purchase different types of cars (Ferrari, Limousine, SUV, Jeep, etc) and put it up for hire. Ensure the cars are insured and that you do your due diligence before renting out to people.
iii. Chair And Table Rental
These items are necessities for a party. Chairs and tables are about the most popular rental items. There is a readily available customer base for these items and you’ll confirm that once you begin to advertise the business. You may also need the means to convey the items to your customer’s destination. You could use a van or truck. When starting, only buy quality regular chairs and tables that are in high demand. As you grow, you can try other styles of chairs and tables. You could also include the rental of table cloths.
iv. Wedding Gown And Accessories Rentals
You’ll agree with me that buying a new wedding gown is one of the expensive costs a bride incurs. The more beautiful and quality the wedding gown is, the more expensive it is. Needless to say, no bride repeat their wedding gown after the wedding day except they sew it into another outfit. A lot of brides would therefore be glad to rent a quality wedding gown for their wedding. That way, they are not only saving costs but are also getting the gown of their dream.
So, if you are a fashion designer, this is one good way to cash in. You can actually learn how to sew wedding gowns and major in that. Alternatively, you can purchase wedding gowns both locally or imported and rent it out.
v. Canopy Rental
This is important for people organising outdoor parties. They would love to rent a canopy to shade their guests from the sun or rain. There are different types of canopy you can invest in depending on your target audience. You could begin with renting out the regular canopies and later invest in other classy and stylish canopy designs.
vi. Generator Rental
Constant electricity is still a subject of strategic focus in Nigeria. You can offer generator rentals to hosts who are holding their parties in a location far from their source of electricity.
vii. Photo Booth Rentals
Here is another rental idea to explore. A photo booth makes parties more fun and exciting. A photo booth is a modern kiosk that contains an automated camera and film processor. You can purchase one and rent it out to party organisers at a cost.
viii Speakers/Amplifiers Rental
This is a necessity for almost every party. Investing in this business can earn you a consistent and huge income. If you are considering this business, it is advisable you learn how to repair the equipment when they get faulty. Also, learn how to set the equipment to produce good sound.
7. Catering Business
Really, what’s a party without food? Many people attend Nigerian parties because of jollof rice. Some people believe that party Jollof is sweeter than home Jollof. Regardless, the food business is good business. The catering business is one of the party business ideas with high profitability. In starting a catering business, think about what food you love to make. Cooking like any other business should be rooted in genuine interest and passion.
Your expertise could be a variety of appetizers, cocktails and finger foods, deserts only, different kinds of meals, etc. Once you choose your niche, test your dishes, and ask for feedback from family and friends. Tweak your recipe if you have to before advertising to a larger crowd. If you don’t get your recipes right before selling to people, you will lose potential customers because they will judge you bases on just one taste of your food. When you are convinced about your catering prowess, you can begin to offer your service to party hosts and event planners.
8. Make Up/Gele Business
Here is a trending party business you can start. Ladies love to look sleek at events and would pay you to help them achieve their desired look. Makeup and gele tying business requires learning because there’s a huge difference between your personal and professional make-up. Most make-up artists also know how to tie gele, so you can learn both at once. Within three months, you should be an expert already.
9. Decoration Business
Decoration business is also one of the party business ideas you can earn a good living from. If you have a knack for making parties look spectacular, you can consider starting your own decoration company. There is a high demand for event decoration business year-round. You can work for many clients and the start-up cost is relatively low.
This is a line of business that anyone can go into provided you are determined enough to learn how to do decoration with your hands. Even though you have a natural decorating ability, you will need professional training to fine-tune your skills.
Once you obtain the training, buy the materials you need to get started. Basically, you will need fabrics, scissors, stakes, tapes, etc. Start small and walk your way up there. As you grow, you will also need to employ staff to work with you. You will also need strategic networking ability to get well-paying clients to patronise you. And one of the ways to achieve this is by partnering with other entrepreneurs in the party business.
10. Photography/Videography Business
Do you love to take photographs? If yes, you can do this as a profitable full-time business. You can combine photography with videography business if you want to command more profit. Among other things, party hosts love to freeze their celebration moments with pictures and videos. You cannot start this business without training, so that’s the first step you need to take. Learn as much as you can, then introduce your business to all and sundry. You can’t tell where your next customer will come from, so talk to as many people as possible.
Don’t also forget to collaborate with entrepreneurs offering related business as that will give you access to their customer base. The major cost you will incur in this business is purchasing the equipment. But, you can start with less expensive equipment and upgrade them as you grow.
Vital Steps To Take When Starting Your Party Business
Step One – Register Your Business With CAC
For your business to be recognised as structured in Nigeria, you must first register it with Corporate Affairs Commission (CAC). CAC is the authorised body for business registration in Nigeria. Interestingly, it is easy and seamless to get your business registered. The first step is to search for the availability of your preferred name. You will be able to reserve the name if it is available. Afterward, you can continue with the registration.
Normally, you can register your business on CAC’s portal by following the step by step guideline. But note that most startups face challenges completing the process themselves.
So, I’ll suggest you hire an expert to carry out the registration process for you. A highly recommended firm in this regard is ReDahlia. ReDahlia is located at 43B, Emina Crescent Off Toyin Street, Ikeja, Lagos. The privilege you have with ReDahlia is that you don’t have to be in Lagos to enjoy their service. You can send all your details via email and your certificate will be delivered to you once it is ready.
Step Two – Draft A Business Plan For Your Party Business
This step cannot be overemphasized. You need to properly plan your business for success. Remember, he who fails to plan, plan to fail. Contrary to the belief of many startups, a business plan is not difficult to draft. All you need is to ensure that both long and short-term business goals are penned down. You can begin writing them one day at a time.
Basically, here are the information that should be found in your business plan:
- An overview of your party business
- Executive summary
- General company description
- SWOT analysis
- Market research
- Your strategy
- The team
- A marketing plan
- An operational plan
- Financial projection
- An appendix
Step Three – Market Your Party Business
Marketing is key to the success of any business. Without strategic marketing, nobody will know about your business. Some entrepreneur trivialise the power of marketing and paid dearly for it. No matter how good your service is, you must promote it to get visibility.
You can market the party business in several ways. One of your best marketing choice is to partner with other related businesses. Also, showcase your expertise on social media, and run ads at intervals, explore freebies, and referral as well. You can also advertise your party business in newspapers and don’t forget that word of mouth still works like magic.
Step Four – Have Good Accounting System In Place
This step is crucial if you want your business to grow. Sadly, this is where most startups miss it. They fail to separate their personal income from their business revenue. As a result, they cannot tell when there is a profit or loss. When you register your business with CAC, you can open a corporate account with the certificate.
Once that is in place, also have a good invoicing system in place and keep a record of all financial transactions. At the end of every month, reconcile your bank statement to know if you’ve made a profit or loss. This will also help you calculate your tax appropriately.
You can hire a professional accountant to help you reconcile your account monthly. Without a proper accounting system in place, you are not positioning your business for growth.
In conclusion, party business ideas are easy to start and you’ll be at an advantage if you have good interpersonal skills. More than that, always give your customers a reason to return. So, ensure you establish a strong customer relationship culture and integrate your employees into the system.
There you have it. Are you running any of the party business ideas listed in this article? Let us know what your experience has been in the comment.
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