Top 5 mistakes to avoid before starting a bouncy castle business |
Posted: October 3, 2017 |
Many people get into the bouncy castle business purely on the basis of instinct or temptation without getting any proper advice or support from the others in the industry. If you are one among the same people, you will be making a huge mistake, on the whole. You need to assess the market well, assess your strengths and weaknesses, and then delve deep into your business without any further ado. Always remember that market research is not a part of the luxury; in fact, it is an integral part of the necessity. So never ignore it at any possible cost. Now, in here, we have collected a few mistakes that most people make at the start of their bouncy castle business. Go through them as closely as possible and vow to never repeat them in future for your own business good. Let’s begin. 1. No proper planning
If you start any business (be it an inflatable business or not), you are expected to have a sound idea or a plan as to what your approach should be. Many people start a bouncy castle business without having a proper and organized plan of their own. As a result, they suffer badly in the long run. It’s therefore advisable to go in with a sound plan of your own, preferably one with a long-term goal. Small things like these can make all the differences in the world for good. 2. Inappropriate business name Many inflatable business owners make the mistake of giving their business a name that’s quite low down the alphabetical line. Now, this is a mistake that needs to be kept at bay for your own business benefit. The reason is blatantly obvious. If you give your business a name that’s low down the alphabet line your business listing will be low as well (like behind the ones starting with the A’s, B’s, and so on). This can play a major role in influencing your business for bad. Hence, the advice is to avoid at all possible cost. 3. Giving up on the day job In case you are already involved in a full-time day job of your own and are simultaneously planning to start a bouncy castle business in the very near future, we would advise you not to leave your day job anytime soon for your own good. Many people make this mistake early and repent later, especially when they fail to turn their inflatable castle business into a success. We would advise you to start your castle business on a part-time basis (along with your day job). If the signs look positive on the horizon, then only leave your job and concentrate fully on the business at hand. Do not ever leave your job at the initial stages of your business for the pursuit of the unknown. After all, it’s better to be safe than sorry. 4. Inappropriate ratio between the number of employees and business revenue Many people make the mistake of hiring too many employees at the beginning stages of their business. Then, when their expenses exceed their business revenue, they land in deep trouble as soon as the payday appears right out of the blues. Avoid making the same mistake as they do. Maintaining a proper ratio between the number of your employees and your business revenue can benefit you a lot in the long run. Always ask yourself these questions before hiring anyone for the job:
Your hiring procedure should go ahead only after you get a positive answer to each of the questions highlighted above. 5. No budget
Not going in with a realistic budget of your own can hurt you real bad in the long run. Overspending commonly happens to individuals starting a business without a realistic budget of their own. The results can really be pretty disruptive in nature unless the issues are corrected at the start itself. So why even take the risk? Go in with a realistic budget of your own and stick to it all possible cost. You, yourself, will be benefitted in the long run as a result of the same. With that, we’ll bring this topic to an end for now. Hope you had a good and enlightening read.
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