How to Start a Party Favor Business
Weddings, birthdays, and parties take place everyday. Your services as a party favor specialist are in demand. Making favors or keepsakes for parties can be fun, enjoyable and profitable. As a party favor specialist for over ten years, it’s not as hard as you think to get started.
Do you like going to parties or showers? Do color schemes excite you? If so, then this business is for you. The main idea to creating a party favor is keeping the occasion in mind. Usually, your customer will choose the color scheme they desire, but just in case you are asked to suggest something, keep in mind the occasion, time of day and the season of the year.
The key to a great favor is neatness. No one wants to hand out favors that are messy, falling apart or just down right dirty. As a favor specialist, your attention to detail is a must. All favors you create must be closely identical to each other. This is the beauty of a keepsake. They all look alike. You don’t want the guest to fight over which one they want to pick up. If they all look the same, that’s an excellent accomplishment.
Jumpstart your favor business today!
Simple Start-Up Supplies
The following list of supplies will get you started making favors this week! (see 4 simple profitable favors below)
An order pad with carbon copy
Glue gun – does not have to be high powered. I bought mine for less than $5 and it still works!
Candy – individually wrapped
Small rubber bands (preferably black)
You will need a store where you can order your printed ribbons and tulle in various colors. There are many online places if you do not know of a supplier in your area. Simply google: printed ribbons, personalized ribbons or ribbons for keepsakes
How to deal with clients?
Be very specific with client orders. Have clients write down their colors, the amount and all specifics name and date on an order pad. Clients are easily quieted if they see their own instructions written down. Verify spelling, date and all other pertinent information. Once ribbons are printed they can not be redone without incurring additional expense.
How do I make a price list?
Excellent question! What is the sense of having a business if it is not profitable? You have to make a price list and stick to it. The most efficient way to make a pricelist is to know how much your expenses are. As an average rule of thumb, I add anywhere from .50 to $1.00 to each favor after, I’ve calculated the expense of the favor.
Lollipop – $.15 each (wholesale)
Tulle – $.5 each (25 in a pack for $1)
Rubber band $.01(wholesale pack)
Printed Ribbon $.25 each
Total cost to make lollipop favor: $.46
I’d charge at least $.75 – $1.00 to make a profit and to cover labor. Remember to value your time!
*Please note, these prices are based on wholesale quantities and my personal experience. Individual results may vary.
How to organize your favors?
In the beginning, you may only offer a few favors. Organize ribbons, by color, type and size. Decorate a colored post board (the one kids use for science projects) with the various favors you offer. Place your business name at the top. Glue actual favors or pictures of the favors onto the post board using a hot glue gun from your supplies.
You can jumpstart your business today by getting this FREE REPORT – How to Make 4 Simple Profitable Today!