Myth: Home Based Balloon Businesses should charge less!
Hello! My name is Joette Giardina, CBA and professional balloon decorator since 2003. I am thankful that I never fell for the MYTH that my services should be LESS EXPENSIVE just because I operate as a home-based business!
People have started balloon decorating and entertaining with balloons for a variety of reasons:
Love decorating and decided to make it a full-time career.
Saw that classic balloon decor can be highly profitable and created a business around that concept.
For Artistic expression and to make something creative during their “free time”.
Create extra income on top of a full-time career.
As a ministry to show hope and love via balloons and sooo many more!
NO MATER the reason you have a balloon business, if you wish to create Income from the balloon business take time to treat your business like a business from the start. If you are NEW to the industry, welcome, make time to research starting a business, here is a past blog with some links to help you out. Write down your overhead for your business, many times home based business tell me they do not have any overhead – MYTH!!!
You may not own a store front, or lease a warehouse but you do pay rent or mortgage for your home and you need to figure that into your expenses! When you start to work from home, often times you take over your entire home, inflating balloons in one room, putting them in another room till time to pack up for the event. Work from a home office. You use internet services, electricity, air conditioning, heating, storage space for all your supplies. This is an Overhead expense as you are taking that space AWAY from yourself and your family.
You may have dreams to build a warehouse in your backyard, have a larger home with work space or move into a warehouse or storefront someday if so you need SAVINGS to make that move, that money comes from your sales, if you do not have a high enough overhead in your Cost to your client you will never GROW from where you are.
Vehicle. If you are transporting decor or supplies to a client’s event then that Vehicle is overhead, Insurance, upkeep, payments, gas That is a part of your overhead.
Liability Insurance. If you are operating as a decor business you must have this!
YOUR TIME matters, if you use the excuse, “I don’t charge as much because I make my weights, inflate my balloons or whatever while Watching TV…STOP making excuses for not Charging for your time! (and I’m not talking about paying yourself at minimum wage. Pay yourself as the Owner of a business, as a designer!)
I see this topic come up time and time again. Typically, a home-based business is not always as busy as a large storefront. Please do not ever feel you need to compete with the pricing of a large chain store that happens to also carry balloons. They make their profit off of High Volume.
Here is a free mini webinar I did on the subject of how to determine your worth
TRAINING! The time you spend watching videos, going to courses and conventions that all takes investment, again something that counts in your overhead expenses!
There are many more overhead expenses, but this gives you some of the base ones that can add up quick. Many times, I find that Store owners forget to add in some of their expenses also. These costs are important to be covered in your pricing so your business can be profitable
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