How are you planning financially for your parties? Are you using your own resources or do you have a separate account to buy party supplies? I was thinking of decorating a table with party supplies for Christmas to photograph for my portfolio but when I added up all the supplies, it is just not foreseeable right now. So many times I am stuck trying to figure out how to support my business and keep my priorities in order. So I wondered how are so many party planners able to prepare for photo ops in advance. Are you planning for it in advance (saving), buying items here and there, or do you have a funds available to complete this goal when needed?
This question is also pertinent for companies starting out that don’t have portfolios. I’m curious to see what everyone has to say about this.
I’m curious also to see how people finance their business or hobby. I can comment on how I built my face paint business and portfolio, although the start-up cost aren’t as high as maybe the party planners. I started out with just a small pallette from Michaels. I practice on my children and photographed them and posted it online. As I booked more jobs I purchased real cakes and supplies.
CaBeatrice that sounds like an awesome plan you have going on there. Best wishes to you and your business. I really like that I can talk to real people in the business and get real answers! Some of us a struggling to make it in this field, Robbing Peter to Pay Paul. You think you are going to get work if you invest your bill money into a project and you may get 1 client who is related to you and you still didn’t make the bill money back! When do you just say “No I can’t this week”?
I just finished up a business plan course, and I was surprised to see how much it would really cost me to get my business started – and that was with just ONE theme party supplies package, so I’m extremely curious to find some tips or advice as well.
I am taking courses also, getting ready to do a few workshops offered by the City of New York just to get some insight. I know there a some who may not want others to look inside of their dirty clothes hamper but I figure we are all here together with probably some of the same issues and concerns so why not sit at the round table and talk about it. I know for a fact this business with this economy is not all that I see in photos. Hopefully we can get some insight from some of the others here because we all are in the same boat kind of. Looking for an answer to the same question.
I too just finish a business plan course and it definitely has me thinking differently. I did a quick start-up cost and like you could only fund 1-2 themes on my own. Not to mention what it would take for me to meet my profit goals. So I’m back to the drawing board again!
Money, money makes the world go around! Ok ladies let me share my thoughts on this topic with you. I will start by saying that there are many on this group that will help anyway they can. Now this what I did. Like many who started out in this business or any business knowledge is power. Learn as much as you can before you begin putting all of your hard earned money into this and find out that later on down the line this just not for you. START SMALL! Until you are financially able to go big stay within your means. I started out using my own funds because I did not want to have any debt with loans, credit cards etc. In order for your business to grow you must put money back into it. As far as buying equipment. I started with used items that were in good or new condition. You will be amazed at what people will sell when they are looking for the next best thing! Networking is crucial, get out and find out what people want find your niche, and roll with! then you will see that you have the money to do what you need to do! Planning is what you do best. So plan your business to be its best!