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Offering Options for Parties in your Studio

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Video Transcript:

Parties can be a great additional revenue source for you. It’s a lot of people coming in at one time, so it’s sometimes easier to get the revenue in and larger forms because you have multiple people rather than one at a time. However, I hear a lot of people say they’re concerned about their parties. They get a little out of hand sometimes, sometimes some overbearing parents coming in. They want to do things that may not be part of your party plan. So take a look at your party plans. I highly suggest that you offer three different options. Three is a magical number from the psychology of selling, so offer three different options. Your low end is your bargain price that is as low as you will go. Your mid-level price includes some extra perks and your highest level package is for the ego family. We all have seen a few of those.

Have that one so that you can compete with a so-and-so’s friend down the street, had a party and you want to beat them out. Have that high-level party to allow people to spend money with you. Don’t just offer them one option. Give them three choices of what you can do for your parties. Perhaps your mid or your upper level may include ordering pizza or having some food brought in or a cake or something like that. Your bargain basement price is probably the price tag that you have today if you just have one choice available.

The mid-level party should add something to it. Maybe you’ve got balloons, cake or pizza. Maybe there are more choices of higher-level pieces they can choose from. Or maybe you’re offering pizza a, a longer a party, something bigger.
Look at your party structure and offer some choices. Make sure that you set rules and guidelines. Don’t stray from them. Not every parent has to create different experiences for their party. You handle the party you provided, you are in charge, and it is okay to say no. Practice saying no. Let’s take those parties to the next level and let’s get some good success and some more revenue coming in from there.

 

 

Donna Bordeaux, CPA with PYOPAccounting.com.

Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly and knowledgeable can be a part of your relationship with your CPA as demonstrated by Donna Bordeaux and PYOP Accounting.com. Donna and her husband, Chad, who is also a CPA, have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help PYOP studios earn 4 times more profit than the average PYOP and are passionate about helping industries that help families build great memories.