Kathie Lee & Hoda: Making Money Throwing House Parties
Kathie Lee and Hoda’s three-part series, How To Make Money At Home, continued…today’s theme was throwing house parties at home. From candles to clothes, hosting house parties is an $8 billion dollar business. Sharon Epperson, a CNBC Personal Finance Correspondent, shares different concepts and start-up costs. So what is the best way to make money? Hosting Candle & Bag Parties or Wine Parties or Jewelry Parties?
Kathie Lee & Hoda: Hosting A Jewelry Party
Sharon Epperson says the first thing to do for any party is to make sure they are a member of the Direct Sellers Association. You want to make sure you are affiliated with a reputable company.
Up first is Stella & Dot, whose start-up costs are $199 for stylists. With that, you get $350 worth of jewelry that you pick out and the average show’s sales are $1000 and you get a 25% commission, so $250. Next up is Lia Sophia, whose start-up costs are $149 and you get $1000 in jewelry that they pick out for you and you get 30% commission. Their parties bring in about $650 in sales, so you can make $195/party.
Kathie Lee & Hoda: Hosting Candle & Bag Parties
Sharon Epperson says for candle parties, Scentsy is a well-known company. They have start-up costs of $99 with a potential commission of 20% for the first $1000 in sales and 25% after that in terms of the products that you sell. For bag parties, Thirty-One Gifts is a major company and their consultant start-up costs are $99. The average party makes about $600 in sales and you get 20% commission from that.
Sharon Epperson says you have to start thinking outside of your friends. You can start going to other events and start selling at them. They also have books you can bring with you anywhere to show people the products you offer.
Kathie Lee & Hoda: Hosting Wine Parties
Sharon Epeprson says the company to go with for hosting wine parties is Wineshop At Home. They will come to your house and host a wine-tasting party for you and your friends. The cost to host the party is $29.95. You will not be making any money off it, but you get half-priced items and people do it mostly for fun.