Starting a business in the amusement and entertainment industry is a savvy business move, as this is a thriving market with lots of room for potential. There will always be someone with an event, party, birthday or occasion wanting to make the most of their day and looking for the best in entertainment equipment, whether it’s a mechanical bull, or an inflatable assault course!
Despite the positive and fun atmosphere the entertainment business promotes, starting a business in this market can still be as challenging as any other. Here are some tips to get you started.
1. Proper Planning
This goes without saying for any business endeavor, so before you do anything else, you need to outline your plans for the business and your expected financial strategy. Knowing your finances is imperative in the road to building your amusement business, as it will enable you to stay on track throughout the journey. You don’t want to go over budget and be in debt before you’ve even begun, and you need money to fall back on should any emergency arise.
You should also decide which specific entertainment equipment you’re planning to have, and how you are expecting to sell it by integrating a good marketing plan.
2. Make Contacts
Valuable suppliers and contacts in the amusement industry will be crucial for your success. You should consider a partner who can provide high-quality equipment and has a history of working within the amusement industry. You will need access to tried and tested equipment, such as an inflatable amusement park and inflatable rides, from people you can trust.
3. Know Your Market
An amusement business is a great venture because it’s so adaptable when it comes to its market. Inflatable amusement can be applicable to anything, from a child’s birthday party, to an adult’s 60th! Get to grips with your potential customers, and ensure you have a variety of inflatable entertainment which works for all occasions.
4. Plan for all Weather
Some set occasions and parties may fall on specific days which can’t be changed, and the weather may not be accommodating for it. You need to ensure that all your equipment is suitable for indoor and outdoor conditions, so that if the weather changes, the equipment can be matched accordingly.
Alternatively, you can plan to have indoor-based entertainment options which aren’t dependent on weather, and these may appeal more to customers who don’t want to have to worry about the weather.
5. Get to Know the Products
You may think that you already know all the great inflatable and entertainment products out there, but research is paramount, and there may be many you aren’t familiar with. It’s a good idea to get up close and personal to all items in order to truly understand what you’re selling, and the experience people will have with particular products. This is also better achieved by testing the equipment yourself, so you can have the same experience a potential consumer will have.