BeTheBoss: Why did you decide to get into the PartyMAX business?
Steve Petrecca: I have owned many different kinds of businesses including several dollar stores. What attracted me to the party supply business was the simplicity. The business only requires 2 to 3 customers per hour to be successful given the typical transaction size so you are not stressed out dealing with large volumes of people and constantly restocking shelving like the dollar store business. You and your staff can take the time and ensure your customers are getting the personal service they deserve.
BTB: How is PartyMAX franchise different from other Party Supply stores?
SP: First off, there aren’t a lot of Party supply businesses to compare PartyMAX too. Most party supply businesses are small (less than 2000 square feet) and owned by independent operators with little buying and marketing power. PartyMAX stores are typically 3000-3500 square feet allowing us to maintain a much larger selection of everyday and seasonal party products important for a destination store. In addition, we actively target and service the commercial market and sell fireworks to our customers on long weekends in the summer.
BTB: What is unique or special about PartyMAX customers?
SP: They’re happy! Let me say that again – they are happy. This is not a business where your customers are upset because they have to spend money fixing their car or a hole in their roof. PartyMAX customers are coming into the store to plan a special event for a family member or friend. They are in a good mood and looking to spend money. They are happy to receive advice and suggestions for items they haven’t picked up but might require. We do a lot of upselling at cash because of this.
BTB: What are a few of your favourite things about the PartyMAX franchise concept?
SP: I like the flexibility and work-life balance available to PartyMAX store owners and the easy going nature of the business. I appreciate its low cost model in terms of staffing, advertising and lease space, its solid margins, lack of reliance on Christmas sales and the many revenue streams available for growth.