On Why Starting a Balloon Business is Easy and Profitable
A balloon business is fun, has high margins, and needs little capital to start. There are also various set-ups that will appeal to differing personalities and financial resources. This is an exciting business that will depend more on your personal input than from a large capital.
There is now a strong trend towards more uses for balloons. While previously only seen in children’s parties and store openings, balloons are now used for a wide variety of events like product launches, concerts, political gatherings, weddings, and even funerals. The balloon business is also an excellent stepping stone to other business opportunities. Later on you may be able to provide other party needs, do catering, rent out chairs, tables, sound systems or even offer clowns.
The two most popular ways to enter this business is either as a retailer or a balloon decorator. Both types of business need no special registration requirements aside from the usual DTI, Barangay, City hall, and BIR. Although you could do both at once, it is better to start by focusing on one first as they demand different skills and resources:
For Balloon Retailers:
• More capital is needed because you need to have a large inventory in order to accommodate buyers. Furthermore, you would want to avail of larger discounts from your suppliers by buying in large quantities. Another big expense for balloon retailers is the cost of setting up a store like renovation, rentals and permits.
• A good location is critical since store visibility is necessary to attract buyers and it is very unlikely to succeed if you operate at home.
• Inventory management skills must be learned. You must know what to stock, how much to stock and when to order.
• Having a van to transport the balloons is very handy, but if you cannot afford it yet, you can inflate the balloons on site. However, sometimes this is not possible, especially if a large number of balloons is required, because there will be too little time before the event starts.
For Balloon Decorators:
• Location is not a big factor since you will be the one to go to the client. You can even use your home as your production area when you are just starting.
• Capital needed is low. For as low as ten thousand pesos, you can start a home-based balloon business. You will need to buy an electric compressor or balloon pump, different kinds of balloons, balloon sticks, inks and designs for printing.
• Creativity is needed to able to charge premium prices and to please your clients.
• Be able to handle stressful situations well since balloon decoration is often a race against time.
• A van will be useful, too, but it’s possible to do the balloon inflating and other things on site.
• You will need to have a more outgoing personality than balloon retailers, because you need to work on attracting and maintaining customers.
The balloon business is one of the most promising ventures for entrepreneurs with boundless ambition but with a limited capital. Want to learn more about this business? BusinessCoach, Inc., a leading business seminar provider, will be conducting a one-day seminar on “Starting a Balloon Business (with Actual Printing and Designing)”.
Click here to view details of the training program on: How to Start a Balloon Business (With Actual Balloon Printing and Designing) »
*Originally published by the Manila Bulletin. Written by Ruben Anlacan, Jr. (President, BusinessCoach, Inc.) All rights reserved. May not be reproduced or copied without express written permission of the copyright holders.