These days, there are lots of creative ways to make good money from a bus. If you have one, you could do something fun and interesting, like starting a food truck or a simple charter bus business. But what about combining the two? Yes, that is a party bus business.
Party bus businesses aren’t new. They have been in existence for a while now. It is more like running a limo service, but with larger vehicles. You will be required to transport a group of people for major events like football games, concerts, or bachelor parties. While in transit, you help keep the party spirit alive in them by offering them alcohol, food, and good music to dance to. If you have been wondering how to start a party bus business, here is a guide to help.
Is a Party Bus Business Right For Me?
This should be your first question before asking how to get started with the business. A party bus business is great for an individual that understands every aspect of major events. While clients want to party hard, they also want to relax and be taken care of. So they need someone who can be all out to take care of that.
How to Start a Party Bus Business
1. Start with a clear and detailed business plan
Before you decide which type of bus to buy or what music playlist to get, having a solid business plan is first. It will help you decide what things you need and steps to take to get your business off the ground. So wit down and write a comprehensive, detailed business plan for the business. Your plan should include everything from costs of purchasing your bus to maintenance, and marketing strategy.
2. Identify who your target market is
This should also be part of your business plan. You need to know who your potential customers are. The target market for a party bus business could be anyone planning a major party. However, you should be focusing on people with a decent amount of disposable income. Your clients will likely be such people going for high school proms, bachelor parties, weddings, football games, family reunions, etc.
3. Determine the costs of opening and running such a business
This is very important. You can’t just neglect it. You need to identify the costs involved in opening and running a party bus business. Initial costs will likely be for buses, gas, maintenance, driver salaries, office space, etc. Afterward, the bulk of the costs will go into maintaining your buses and market your business.
4. Buy or lease your bus
You can get your bus by buying one or get it leases through other party bus companies. When you get your bus, customize it to suit your needs and brand identity. If you aren’t sure of what a party bus business entails, you can take a tour around to see common ones in your area. See how they run their business and take note of what you can imbibe from their culture.
5. Form a legal entity and register for taxes
The most common forms of business structures are the partnership, sole proprietorship, corporation, and limited liability company (LLC). Forming a legal entity will offer you a kind of protection against being held liable in a situation where your party bus company issued.
Also, before you open for business, ensure you register for both state and federal taxes. To do this, you will need to apply for an employer identification number (EIN). Getting an EIN is free and easy. Plus, it will come in handy in the future when you need to hire workers in your company.
6. Get the required license and permits
You will also need to apply for the necessary licenses and permits, depending on the requirements in your state. To know the requirements, walk up to your secretary of state’s office to make an inquiry. Apply for your EIN if you will be hiring workers, or a Tax Identification Number if you won’t.
7. Connect with local businesses
Forming partnership with other small businesses is a good and quick way to grow your party bus business. A local sports team or sports bar in your area may want to sell tickets to a road game. If you have right standing with them, they can use your bus as transportation. Connecting with local businesses sure has a lot of benefits for your company.
8. Market your party bus business
Let more people know about your business by creating a website where they can make reservations. Create business cards and brochures and customize your buses to serve as a walking advert for your company. Speak and connect with local businesses and offer them packages that will entice them to your business.
Final Note
Starting and running a party bus business is not a difficult thing. You just need to get your homework right. Know what will be required of you to run such a business in your area and go for it. Party bus business has been a great source for enthusiastic entrepreneurs and will definitely make a good one for you too.
