Celebrations happen all year-round. Weddings, birthdays, anniversaries, and corporate events - you name it! The list is endless. To make celebrations lively, people look for expert decorators to revamp their venues according to their chosen theme. That's why the demand for these services are constantly increasing. If you've got an eye for style, starting a decorating business might be the dream career you've never expected. It is the perfect way to unleash your creativity while making money. Not only that, you make celebrations more memorable and appealing.
If you're contemplating if this business is right for you, read this insightful article and it will guide you on how to start a decorating business to maximize your skills and resources. With determination and consistency, you will be able to make more profit than you think. And the catch? You don't need a formal degree to get started.
A party or event decorating business specializes in transforming your venue or space into a custom theme based on your preference. This pertains to any kind of celebration such as birthdays, weddings, gender reveal parties, engagements, school events, and even corporate gatherings. The main goal of a decor business is to bring a customer's vision to life through customized design, color combination, and creative use of decor elements.
As of 2024, there are approximately 94,293 event and party decorating businesses in the US. There has been a reported 4.1% decline in the number of decorating businesses compared to the previous year but the market still continued to grow. Event decoration services in the US is valued at $10.5 billion and is projected to expand at $25.9 billion by 2030, showing a CAGR of 5.5%.
Despite the decreasing number of businesses in the decorating industry, the demand for these services continue to grow due to the increasing number of corporate events such as meetings, formal dinners, and products launches which calls for a need of themed decorations. This basically means that it is not too late to join the industry. Great customer service and quality services will let you stand out in the competitive market.
To give you an idea, here are the services offered by most decorating businesses to any celebration or occasion:
Launching your own event design business can be relatively affordable and attainable compared to other businesses. For a start, you can begin from home through online marketing and scale gradually once you have earned enough profit. Typically, it only costs $2,000 to $15,000 depending on the business model you have chosen and how big you want your business would go. A DIY start doesn't need much and would only cost more or less $2,000 but if you want to start with a pro setup, prepare a total budget of $10,000 to $15,000. Startup costs vary depending on many factors to consider.
Decorating businesses start to reach profitability within 1 to 2 years depending on many factors. When you start with lower costs and expenses, you'll probably end up with faster profitability. Remember, you can start small and scale up once you are capable. Always update your marketing strategies to maintain a continuous flow of clients coming in. If possible, focus on enhancing your marketing efforts to boost your online visibility. Also, check you pricing strategies if it is giving you enough profit to compensate your efforts and startup costs.
According to the US Bureau of Statistics, 20% of small businesses fail within the first year, while 50% more will fail after 5 years. However, if you focus on creating a strong branding and creative service offerings, you will most likely retain and attract customers more than your competitors. Building a solid portfolio will also take your business to a higher level. This will serve as a proof of your quality work and a testament of your dedication to your clients. If your business is on the creative side, try to be social media savvy by utilizing Pinterest and Instagram. It is the best platform to showcase your work and reach a broader audience.
Before anything else, take some time to think and decide what kind of decorating you want to do. Are you interested in styling big events or intimate gatherings at home? Or are you drawn to decorate corporate gatherings and product launches? Defining your niche in the first stages of your business preparation will help you determine your budget and target market. It will also guide you with managing expectations specially during the first months of business operation. Here are the types of niches you can choose from depending on you preferences:
If you love the festive vibe of every celebration, this niche is for you. Basically, this includes birthday, wedding, an other parties of the same kind. This is probably the most common category due to the popularity of the demand.
There are customers who prefer intimate celebrations at home rather than big venues. This niche involves transforming a simple home into a whole new space ready for festivity through home decor pieces and theme related decors.
Corporate events call for a formal and professional styling which are easier and simpler to do. Most companies only require minimal design based on their branding and purpose of gathering.
Choosing this niche doesn't only focus on designing and styling. It also includes all-in-one services such as planning and coordination for all types of events. You might need to hire a team to assist you and provide an on time turn around of services.
Assess your skills and analyze your local market when deciding on which niche to focus on. This will allow you to focus on a certain field of expertise to create a more productive and efficient environment for your decorating business, leading to more positive feedback and reviews from your customers.
Innate talent, creativity, and expertise is the most important factor to consider when planning to run a decorating business. Even if you consider yourself an expert in this field, take some time to refine your skills by continuously learning about decorating principles, color theory, space planning, and modern trends. You can attend local training and workshops in your area, or look for self-paced online courses. There are also books that can provide good insights about styling and designing for different events. Keeping up with modern innovations and learning to play around with the preferred budget will show your clients that you are not just committed to provide quality work. Indeed, it shows great professionalism.
Most clients look for your sample designs to know if your style matches their vibe. If you are still starting, try to decorate your own home, volunteer to style a family member's birthday bash, or create mock set ups. Do not forget to take high-quality before and after photos of your set up and post them on your website or social media accounts. This is a free marketing and promotion for your decorating business to score your first few clients.
Successful businesses always have a well-prepared business plan. This serves as a guide on how to start a decorating business and set goals for your upcoming venture. Making sure that your objectives meet the demands of your potential clients, a clear understanding of your business will help you handle all the possible challenges and risks along the way. As you develop your own comprehensive business plan, here are important points that should be included:
Completing these information will help you prepare of what's about to come as you move along with the process of starting your decorating business. After this crucial step, proceed to registering your business to operate fully and legally.
Just like any other business, complying to licenses and permits does not only ensure that you are operating legally but it also builds trust and credibility to your future clients. Doing so protects both your business and your workers, if applicable, from potential claims and risks. Whether you chose event decorating, interior design, or opening your own one-stop shop styling agency, you need to complete all these legal requirements before you can finally start.
Check with your local or state's regulations for specific documents they require to make sure nothing gets left out. Once you have everything ready, it's time to plan out effective marketing strategies to boost your business' online visibility.
Starting a business in this modern world calls for a strong online presence. It usually creates a lasting impression to your potential clients. Building a user-friendly website with your portfolio, services offered, contact information, and other useful information can be very helpful to boost your online visibility. Also, do not forget about the power of social media marketing to attract more customers and the impact of email marketing for your brand awareness.
A professional website is not an accessory, but an all-in-one place for your target market to know more about your business. That's why it is considered a necessity for all business owners nowadays. With the right SEO strategies, your business website will be able to perform well in search engine results. Here's how:
Social media has become a very powerful tool to promote your business and raise brand awareness. There are a lot of social media apps that allows you to run paid ads and campaigns, helping your business reach its target market. You can use Facebook and TikTok, but for a better showcase of your portfolio, use Pinterest and Instagram. Post before and after transformation of events you have decorated or create reels of celebrations you have handled. To encourage consistency, use a content calendar to manage your posts.
In your website, you can customize a landing page that collects emails of potential customers in exchange for discounts and freebies. You can use Mailchimp or Mailerlite to schedule weekly newsletters, limited offers, and event reminders to your target audience to promote your services. Keep your emails short and visual to keep customers engaged and interested. Include call to action strategies such as "Book Now" or "Contact Us Today" to encourage customer engagements.
Aside from boosting your online presence, it is also important to make your business known in your community through the traditional way. Whether you have a physical store or not, be engaged with what's happening around you. Join event supplier exhibits and seminars to expand your network and expect possible collaborations with other related businesses. Work with other suppliers to complete a project and include that accomplishment in your portfolio. Set up promotional banners or posters in high traffic areas to let other people know about your decorating business.
Being prepared and organized is the one of the keys for your decorating business to succeed. It shows your dedication and commitment to provide the best solutions for every celebration or gathering set up. Additionally, checking what you need ahead of time will ensure promptness, cost-efficiency, productivity, and professionalism in handling your decorating business. To keep everything organized, you can utilize a planning software to track everything. Taking note of these essentials will help you assess and prepare for every project that you need to complete.
If possible, prepare for a project one month before the date set to avoid setbacks in decor supplies and to finalize the design if ever changes are to be made. It is important to follow standard protocols and requirements for every venue to avoid penalties and fines. Do not forget to leave every venue clean and green. To ensure that your decorating business is a success, be consistent with the work quality you provide and fill every venue with your creativity and passion.
A decorating business can be both rewarding and profitable specially when done right. Despite the decreasing number of decorating businesses in the US, the demand remains consistent and increasing. This point of supply and demand is a good sign to start your journey in this industry.
To achieve success, you must first understand the nature of a decorating business and choose a niche to focus on. Work on creating a good portfolio by showcasing your sample works and after that, prepare your startup budget. Develop a good business plan and ensure compliance to legal requirements based on your state's regulations. For the most important part, take time to create a good marketing strategy to enhance your local and online presence for it can make or break your business. Take this as your go-to guide on how to start a decorating business and experience the fruits of your labor.
Ronald Osborne is an Australian entrepreneur and experienced business coach. With over ten years of business and mentoring experience, an MBA specializing in Finance, along with launching/partnering with over 10 of his own companies around the globe, he has been able to achieve his version of success. Ronald has been able to help large telecommunication companies, law firms, trade businesses, and everyday business owners improve their business and take it to the next level.
