Need a little help for my graduate paper

[rocky282]

I am working towards an MBA in marketing from Ashford University and part of my final paper has to be a prospective business and how I would run it. I need to have some feedback from real parents on what they think about the business and if they feel they would like the opportunity. Please take a few seconds and read through my summary of what my proposed business is. Any feedback would be great, would you spend the money to have one, do you see one as a better offer than another, etc..
It's not a real business right now, and I'm not trying to promote it at all, just need feedback and thoughts from other parents to include in my paper. If you leave feedback please let me know the ages of your children or grandchildren that you think this would apply for. Thank you in advance for any help, this has been the best place for me since my diagnosis and with such caring individuals, I think I will get some great responses to add to my paper. (it has to be 30 pages)


Executive Summary

Parents want to have great parties for their children, and love having the work taken out of the process, Princess Parties will do just that. By offering setup to cleanup and everything in between, the owner of Princess Parties will be able to give her customers an amazing princess themed party with almost no work. Designed specifically to please girls from 3 to 10 years of age, the target market of Princess Parties is parents of girls ages 2 to 10. In addition to the items mentioned below, Princess Parties will also provide the host/ess with Princess invitations that can be sent to potential guests.



The breakdown of pricing for a princess party is:

Princess Party $100 Princess and 5 guests; Additional guests $10; each Princess keeps dress and tiara

Princess Birthday Party $150 Princess and 5 guests; Additional guests $10; each Princess keeps dress and tiara


Perfect Princess Party $250 Princess and 10 guests; Additional Guests $10 each; Princess keeps dress, tiara, movie, and princess bag




The basic Princess party will include three games, one of which will be decorating the princess cupcakes. Other games may include: pin the crown on the princess, princess scavenger hunt, name that princess, walk like a princess, princess dance off, and/or build a princess crown. The “princess” of the party will get to select a dress and tiara that she can keep once the party is over. Winners of the Princess themed games will receive princess prizes and each attendant at the party will also receive a small princess themed gift bag.

The Princess Birthday party will have a princess cake with a doll that the birthday girl can keep in the center of the dress cake, additionally there will be a princess decorated cupcake for each of the other attendants, parents can purchase additional cupcakes at $2 each. The “princess” will get to choose 3 games from the same list as the basic Princess Party; she will also get to keep her dress and tiara. Each guest will receive princess themed gift bags and princess themed awards will be given for game winners.

The Perfect Princess Party is geared towards older “princesses” and will include the same options as the Princess Birthday Party. It will also include the addition of a princess movie, a princess bag including bath salts, fingernail polish, lip gloss all in a beautiful princess themed bag. The “princess” and her guests will also take part in a mini spa treatment with facials, hand creams and foot massage creams.

[jenniferautumn]

you asked....

ok I think the idea is definitely a good one. Some thoughts are as follows:

Price point-I think you have to think about the clientele a bit more. also you have to be able to cover your overhead. I think the prices that you have set are reasonable however I do not think you would make any money when all is said and done. To combat this you may want to consider, different price points for different times of the day. ex. Morning packages would be cheaper, afternoon would be most expensive (since that is the best time for a childs party) and Evening packages could be slightly cheaper. I believe this would draw more business. This way you could host 3 parties each day, or 6 on the weekend. I am thinking Sat and sun since Kids would be in school most other times. If you cater to a more sophisticated clientele, you will be able to charge more. If it is the local neighborhood, I believe your current rates fit.

Princess Parties- Great idea, you may want to keep in mind that there are many little men out there too. Perhaps Princess/Prince Parties. You could carry the same concept for little boys as well. Again keeping in mind your overhead.

Sell it- Marketing is huge! Think about the parents and the kids. What would sell a five year old boy to have a party there? (foam swords, crowns, clowns, jesters)? Or what about an 8 year old girl (play makeup to take home, crown, dresses, gold colored plates, kareoke)? Or the parents, (price, what is included, location.)I think the personalized invites are a great idea. Perhaps something like "Her royal majesty, Olivia, would like to officially extend to you an invitation to join her at her castle for her 8th birthday on the 19th of may. She requests that you rsvp prior to the 16th. Please bring your official invitation as you will not be allowed in to the castle with out it."

Location-will you be hosting these parties from an event space? Or will you bring the party to them, or is it their choice. If you bring the party to them you may be able to charge more for on spot set up and clean up.

Bounce House- Kids go crazy for this thing! You can get one that is shaped like a castle. If these are the prices that you will charge for set up and cleanup at the location of their choice, I believe the price is too low and it should be increased.

I am not sure if this is what you are looking for. I just figured I would give my opinion and through some ideas out. I am 29yrs, if that makes a difference. Let me know what you think!

Good luck!
Jenn

[rocky282]

Yes helpful

Thank you!!! Yes that is all very helpful, I didn't think about adding little men to the plate, but that would really increase the potential client base. I have been toying with adding $50 to the overall cost of each package to increase the bottom line, right now the price of materials is about $50 with about 2 hours of labor involved in the lowest level party, then I figured 2-3 hours for the party and 1 hour for setup and teardown.

The concept is based on having the party at individuals homes, however it may be easier on me if I locate several establishments as options and use them. Perhaps offering to do it at a hotel and the price of the party includes the room for the night would be really fun. A big slumber party, and for an additional $XX they would get two adjoining rooms, one for the kids and one for the parents. Just a thought.

Any feedback is great, my thesis is really shaping up and with help, I should get an A on this