What I Would Buy If I Only Had $5000 To Start.
If I were starting over and only had $5000 dollars to start here are the items I would purchase first and how I would make my money work for me.
The first thing I would start with is..You guessed it, the essentials.
Essentials
Insurance- $1345 Upfront
Total- $1,649
While some of these items are specific to California, It gives you a good idea of what to start with. You can find your entity number and business license by doing a quick google search. When filling out applications for insurance, these are some things they will ask for.
Entity Number (EIN)
List of Equipment
Release and hold harmless statement
Signage
Each insurance company has their own requirements and may ask you to modify or add verbiage in to fit theirs. Here is a basic template to use.
When you are first getting started it is extremely important to have an accountant set you up for success. They can help with a number of things like what software is worth using (quickbooks, gusto, fresh books ETC), what you should be taxed as and how/what you can get deductions on. You can post a job of exactly what you’re looking for on upwork and set your budget to fit your needs. Regardless if you decide to get an accountant or not, start by setting up a business bank account to keep everything separate from your personal and keep track of all purchases/transaction and keep all receipts. You can organize this by using a simple spreadsheet. I use Numbers (the apple version of excel) or you could also use google sheets. Both are free to use.
Once you get all the essential business stuff together you can now start focusing on the equipment. I put a list of equipment together I would get if I were starting over with a $5000 budget. Plus, Everything is from Amazon!
Equipment
Large bounce house with slide and ball pit (needs at least 1400 balls minimum)
Amazon- Using affirm Pay over time- $105
Amazon- Using affirm Pay over time $50
4x4 ball pit- $346
Slide-$179
Foam gym pieces- $454
Gates- $520
Mats- $200
White-500
Clear-500
Pink-200
Blue-200
Tarps- $29
Anchors- $37
Sandbags- $23
Software
Booking System- $37
Waiver- $18
Total: $4,0
As you can see, $5000 can go a long way if you use it wisely and make it work for you. Plus, you will have some leftover to pay for the monthly subscriptions. However, If your amount of money is smaller or you are unable to use affirm to purchase the bounce houses here is another way I would use my budget.
Essentials
Insurance- $1345 Upfront
Total- $1,649
Equipment
Ball pit balls-$200
White-200
Clear-200
Pink-100
Blue-100
Tarps- $29
Anchors- $37
Sandbags- $23
Software
Website-Free
Booking System-Free Fillable PDF
Waiver- Free Fillable PDF
Total: $2,407
Though the second options are not as flashy as the first, but It is an option to at least get you started and on the journey to getting more equipment. Adding balloons and decals for an extra cost or even included in the price will help make the parties to feel unique to each theme or color palette. If you are interested in what steps I took to start mine or curious on what equipment I used you can get my guide here.
DIY GUIDE
Curious on the steps I took to start my business or just curious on the exact equipment I used? I put together all the steps I took in a guide and now it’s all yours.
It has been a crazy year of starting this business but I’m so excited I can share what I learn with you guys.
I hope this helps some of you.
Talk Soon
Megan
