How to Start a Party Hire Business
The Party Hire business is quickly becoming the go-to start-up or side hustle for many Australians. With the perks of being your own boss, semi-choosing your hours and being able to juggle it alongside family life or full-time work it is no wonder many of you are taking the plunge.
The Party Hire business is so diverse it can be anything from hiring out tables and chairs to lights, to pop-up picnics, proposals to our beloved slushy machines, photo booths, and jukeboxes, really the options are endless.
Here we have compiled all the steps into one simple article that will help guide you through the process of starting up your very own party hire business.
First things, first you need to pick your niche and find what you are passionate about. You might be the master of tablescapes so the pop-up picnic business is for you, or you might have a love for everything audio-visual, so you opt for the lighting and sound aspect. Or your love of hosting the ultimate parties over the years has left you with an abundance of party equipment everything from tables, chairs, cutlery, and that trustee old jukebox machine you invested in a few years back.
Once you’ve established your initial services, it is time to get down to the nitty-gritty.
Research, Research, Research
If you are reading this, I would say you have already started this task, but it is easy to miss a few things when you are falling in love with the idea of your new business. So here are a few extra things that may have slipped through your radar.
- What is on offer worldwide – is there anything new you can introduce here?
- What is on offer in your area and what is missing or what can you do better?
- What can you offer to complement your “would-be” competitors? Maybe there is an amazing pop-up picnic business that is missing a self-serve bar set-up or balloon Garlands
- Keeping an eye on the services provided plus their pricing structures and add-on. Some long-standing party hire companies are charging additional fees if parking is more than 25-50 metres away or if the setup/installation/drop-off is upstairs or via a lift as all these things add to your set-up and pack down processes equally more time and let’s face it time is money!
Picking your Business Name
Decide on a business name, register it and set up a structure – It is just that easy….not!
Picking the right business name can be daunting, so we have written another blog, “Tips for Naming your Business” solely on the topic. Make sure you check it out, it has some great resources and vital tips. Like making sure your business name is free across all social platforms, you don’t want to be called “Pop-Up Picnics 101”.
Once you have the name and it is all registered and officially YOURS!
It is time to create a social media presence and website. Although you are in the early stages, securing your social media account early ensures no one else can take it, plus you can start to build some anticipation around your up-and-coming business. People LOVE the BTS contents, watching the ups and down, watching you master your technique and more. Don’t leave any social platform out, jump onto Instagram, Tiktok, Facebook, Pinterest.
Get Your Equipment in Order
Our number one tip here is to make sure you can insure your equipment. As we see several start-ups struggling with this. A word of advice, jumping castles, inflatable products, soft play equipment & ride-on toys, amusement rides are all high-risk and are expensive/hard to insure. You don’t want to be left having a jumping castle that you can’t afford to insure.
The beauty of this industry is that you can start as small or large as you like. You might already have a handful of things around the house that you can hire out and use this money to continue to grow your offerings. Another cost-effective way for pop-up picnics is to visit the op-shops and second-hand marketplaces, you can grab some real bargains with mismatched tableware and old table clothes and rugs plus don’t forget trustee old Spotlight, different colour and texted fabric can change an entire vibe.
Make sure you are compliant
Party Hire Agreements
You will need to implement a Party Hire Agreement. There is an online provider, Lawpath that allows you to create legal documents, on-demand and personalised to your business and branding. They offer two options: a one-off document for a set fee, or a subscription that will allow you to create several documents, edits & versions. This is a great feasible solution, especially when starting out.
If you are planning on setting up a pop-up picnic or party equipment on council grounds or on third-party premises, you may find they require you to have Public Liability Insurance. Public Liability Insurance is designed to protect you against personal injury and property damage arising from your business activities. For example party goers tripping over your power cord or beautiful jute rug, you put out causing Personal Injury. Don’t worry, this is where we come in with our specialised Party Hire policy. You can obtain a quote and place cover all online in a matter of minutes here.
Home & Contents Insurer
If you are operating the business from home (yes, even just storing the equipment) you need to let your Home and Contents Insurer know. In many cases, this will not cause any issues however you have a Duty of Disclosure to let your insurer know and if you do not disclose this, you are giving the insurer a right to decline a home and contents claim. AAMI has recently been in the news for declining a house fire claim as the insured did not declare that they sold eggs from their front gate. So make sure you add this one to your check list.
Finally, don’t forget to have fun with it. After all, you started the business due to your love of parties. So make sure your fun, party-loving vibes shine through and you’ll be receiving those Five Star google reviews in no time.
Disclaimer: This article is not intended to be legal advice and is for educational purposes only.