How to Throw a Grand Opening Party for Your Business

A grand opening party is a great way to get the word out about your new business.

Step 1: Budget Make a budget for the party, and spend wisely. A grand opening party is important, but you don't want it to precede a "going bankrupt" party.
Step 2: Plan ahead Plan the party a year ahead, and organize a timeline that includes when to start sending invitations. Schedule a staff for the party as far in advance as possible.
TIP: Begin operation of the business before the grand opening to get the employees in the swing of working at the business.
Step 3: Provide food and drinks Provide food and drinks. Look into getting other businesses to co-sponsor the party and provide food or entertainment.
Step 4: Get creative Get creative with the space and the party -- offer games, contests, and a celebrity appearance. Give people a reason to attend, but make sure the party is compatible with your business.
Step 5: Send invitations Invite your target audience, which includes the suppliers your business will use, potential customers, and the media.
FACT: According to the U.S. Department of Commerce, 627,200 new businesses opened in 2008.