A Woman Owned Business / November 2004
The Party Palace
 Karen Posey |
By Pat Lawrence
After selling broadcast advertising to businesses for fifteen years, Karen Posey wanted to open her own business. A close friend operates a successful party supply house in another city and Karen caught her enthusiasm for helping people celebrate their special occasions. After researching market possibilities and locations, she contacted the Small Business Administration for their assistance. “They were a great help, suggesting other resources and providing additional research information.” She prepared her business plan and applied for a small business loan.
“The businesses the SBA encourages are small, but the loans are often substantial, ranging from $10,000 or less to over $100,000. The loans are even more valuable because they are low interest loans. We have ten years to repay the debt.”
The Party Palace in Kanawha City opened in May 2003. The specialty party supply has over 5000 sq. ft stocked with an avalanche of paper products and decorations for every season, holiday and themed festivity.
There is a fifty-foot luau wall festooned with lantern garlands, palm trees and coconut ukuleles. The Hawaiian hostess can take home a traditional grass skirt and choose from ten kinds of leis. Karen says, “Luau parties are always in season. They happen all year round.”
The Party Palace has a bridal boutique with all the wedding necessities like toasting glasses, cake servers and ring pillows. The bakery prepares cakes but the shop also caters to cake decorators themselves, featuring all the specialty pans and accessories like toppers.
The shop is stocked with virtually all the paper products a hostess would want, from colored and decorative plates with matching napkins to confetti and party favors.
Karen says the business is a success thanks to all the people who come from six counties to shop there. On Fridays, they are usually swamped and Karen is up to her elbows in garlands and balloons. She is still enthusiastic about helping people celebrate. She says, “I always wanted to be in business for myself. The people at the SBA encouraged me to seize the opportunity and they helped and guided me to good decisions. The Party Palace is just what I imagined it would be, a store that is fun to visit and a business that’s a pleasure to run. ”
Contact The Party Palace, 304-925-2844 or visit 3718 MacCorkle Avenue, SE or www.thepartypalace.com
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