The National Retail Federation predicts U.S. Halloween spending will hit $5.8 billion this year, with the typical adult spending nearly $67 during the season. Halloween has become an industry so big that it’s almost scary.
Looking to take advantage of fright night on the small business stage? Here are five of the most noteworthy business opportunities for entrepreneurs surrounding the Halloween holiday:
- Costumes and accessories – Costume stores pop up in local malls and other locales for about a month and sell tons of costumes, hats, wigs, masks, accessories and party supplies for adults, kids, and pets. Then, on the morning of November 1st, they vanish almost as quickly as your children’s Halloween candy.
- Pumpkin patches – Families love to pick their own pumpkins out of a field, jump on a hayride, run through a corn maze, and get scared in a haunted house. While most pumpkin patches are in rural settings, I’m now seeing them show up on street corners in cities.
- Party personnel – If you’re an event planner, photographer, videographer, caterer, bartender, waitress, or a DJ, Halloween can be one of your biggest nights of the year. And all of these services are in high demand because costume parties draw huge crowds.
- Bakeries – Halloween cakes, pies, cookies, and other baked goods can always be found in great quantity during Halloween. This and Easter are the year’s two biggest candy eating seasons.
- Restaurants and bars – If you’re an owner, you know how much business the Halloween weekend can generate; even the waitstaff enjoys dressing up for scary good times and big tips from costumed clients.