If you're a female who happens to be older than the age of 20, then you've likely been roped into attending a party at a friend's house. And, I'd venture to guess that there's a good chance you even felt obligated to buy something.
Party Plan Businesses have literally created their own tiny economy within the US and there is definitely some money to be made by hosting your own party...IF, you do your homework.
What Should You Look For In A Party Plan?
As someone who's worked in the home party industry for a very long time, hopefully these few tips will help you get off on the right foot in your new business.
Unique Products
Having a product that's different is a very important factor when choosing a business to get started with. Why? Well, let's be honest, if you want your friends to come to your party, you really need to offer a product that they can't get from any of their other friends.
Re-Orders
If you can find a product that can be ingested, used up, or in general needs to be ordered on a periodic basis, then you're in luck. These types of products give you a reason to have your customers coming back month after month!
Great Pay
Finding a great pay plan can be difficult to discern, but here are potential pitfalls to avoid.
- Make sure that you don't have to carry tons of inventory. This can kill your profit margin, and not to mention cause you a BIG headache.
- Look for pay plans that will pay you a residual income month after month, without needing to have new parties. The goal is to build a business you can walk away from some day.
- Look for a compensation plan that doesn't make you qualify month after month. Rather, look for upgrades in your rank and pay that are automatically maintained just by keeping your membership active.
Fun, Fun, Fun!
Having fun is what it's all about. If you're not having fun, and passionate about your business, then your customers will surely be able to tell. Find products and people that make you happy, and the results will follow.
Long Term Stability
Make sure that also do your research on the company you're joining, before diving head in as well. Look for a company that is continuously improving their marketing materials, and who has been around for at least 3-4 years. Many folks build up large party businesses, and end up losing it all when their company goes out of business.
Weeding through the hundreds of party plan businesses can be difficult, so if you'd like a shortcut, check out the business that allowed my husband and I to quit our full-time professional jobs: Lucrative Home Parties |
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