New Delhi: The fun is back! So why not use your passion for party planning and decorating to start the business venture of your dreams? You can set up a party decoration business for very little investment, contribute to people’s enjoyment of time, and earn a solid livelihood at the same time. Party decorations are increasing rapidly. So, it’s a great time to join the party and take a share in that market.
However, starting a business requires effort, time and knowledge above everything else. Luckily, this step-by-step article provides you with all the knowledge and advice you need to start a thriving party decoration company. (Also read: Turn your dream business idea into reality: Start with just Rs 2 lakh and earn a monthly income of Rs 80,000)
Event Decoration Business: Opportunities
There are two ways to manage your company. One involves collaborating with an event management firm, while the other is concerned only with decoration. Most of them will require a party or event coordinator. (Also read: Big gift for OnePlus customers before Diwali! Get Nord Buds 2R wireless earphones completely free: see the process)
A person has the power of coordination and decision making. You can immediately enter the scene as an additional decorative partner in some situations. There is no concrete product that you can demonstrate to customers; Instead, the success of your business depends exclusively on the quality of the services you offer.
Only your customer reviews and the number of orders you receive will be able to gauge the efficiency of your service.
Event Decoration Business: Set Up Costs
Intensive research is required as the profitability of the firm depends on it. Make a clear list of everything you need and decide how big your company will be. The concept of renting versus buying will also have an impact on the investment you have in mind.
In this business, you do not need to purchase event decoration items in advance. You just need the supplier’s contact information when placing an order. Very little capital is required to start this business.
The total sum of your investment will be equal to the value of the assets in your business. Given that the decoration industry provides services at the customer’s location, your workplace expenses will be really low.
Event Decoration Business: Investment Details
In the initial phase, you can start this business with just Rs 10,000. Moreover, as you expand the business model, more investment will be required accordingly.
Event Decoration Business: Profit Margin
The profit margin in the business model is around 40 percent to 45 percent.
Event Decoration Business: Benefits
If we talk about exact profit then it depends on the operation of the business. If reports are to be believed, lakhs can be easily earned from this.