Hello! Nathan Sykes here, wishing you a happy Halloween. Today’s podcast is recorded live from the Howdy Interactive offices in Bangor, ME. We’re talking about Halloween business statistics, and some business ideas that teen entrepreneurs could easily pull off in mid-Q4.
Halloween retail statistics have shown continued growth over the last few years. Now, more than ever, adults are joining in on the celebration which opens a completely new target market for entrepreneurs looking to take advantage of this holiday. 68% of Americans made some sort of Halloween-themed purchase in 2018, with $9.1 billion dollars being spent this year, over $8.4 billion last year.
An interesting statistic I happened upon is that Canadians actually love Halloween more than Americans do. While the average American spends $86 preparing for Halloween, an average Canadian can spent upwards of $170.
The largest expense associated with Halloween is “attending a party”. People who pay to attend a party spend upwards of $77. This is most likely due to the influx of commercial-grade Haunted Houses, like Universal Orlando’s Halloween Horror Nights, which can set patrons back as much as $104.99 + taxes.
After parties, the largest expenses are alcohol ($55/average), costumes ($52), and entertainment ($48). Candy, surprisingly, came in last at just $42.
Business Ideas for Teen Entrepreneurs
If you’re still stuck on finding an idea, or you just need another side hustle to complement your climb to financial freedom, consider some of these:
- Business Decoration! Companies & corporate offices love to decorate for the holidays. Cold call their office manager and let them know you can take care of it.
- Food! Both residential and corporate parties need food. Specialize in creating holiday-based food, and you can sell them to entities that are hosting parties for Halloween.
- Haunted House! Quality scary experiences are hard to come by in some small towns. If your city is lacking in a quality haunted house/hotel/asylum/whatever, go and throw one!
Nathan over and out. Tomorrow, we’ll take a case study in email marketing and talk about how to get people to sign up for your email list.