Dean Salakas didn’t plan to run the family business. He graduated from college with the plan of starting his own career.

But when it came time for his family to sell the business, he and his brother had a decision to make. Would they let the business go or take it and run with it?

Spoiler alert: They chose the latter.

Learn how Dean and his brother bought their family-owned party supply store and grew it from a team of two to over 40 staff.

Allow me to introduce Chief Party Dude, Dean Salakas…

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So, who are you and what’s your business?

I’m Dean Salakas, Chief Party Dude at The Party People. The Party People is a party supply store selling balloons, party decorations, theme party supplies, cake decorating items, candy, costumes, novelties, catering supplies, and more.

What is your backstory and what inspired you to come up with / pursue this idea?

See below question for backstory, following on from that. In 2001, I went to university and worked in the business (The Party People). As part of my final year, I did a thesis on the business, and as a result, I launched us on Google Ads, becoming their first advertiser in Australia.

In 2004, I went to work as a Business Analyst for Woolworths, as I was keen to pursue my own career without the help of my family. I grew at Woolworths for five years, but the opportunity came up for my parents to sell the business, and they were going to accept an offer. So instead, my brother and I decided to buy the business and have a go. Since then, the business has opened a second location and grown from two staff to over 40.

Take us through the process of designing, prototyping, and manufacturing your first product or service- what was that like?

We sell products and services which have evolved over time. We have a buyer who is constantly on the lookout for new products, and we engage our store managers when doing buying exercises since they are close to the customer.

Describe launching the company… Where did you start?

Thirty-five years ago, my mum Mala Salakas was “Patches the clown”. Her passion for parties led her to open a small party store with my grandfather. They grew the business and decided to launch an online party store in 1998.

So they got two IT students at university and myself to work through it, and we launched Australia’s first online party store. We were also the first retailer in Australia to offer click-and-collect.

What has worked to attract & retain customers so far?

Digital marketing, marketplaces, brand marketing. It all works, it’s more about finding what works best for your business and targeting the platform appropriately. For some businesses, social is the best, and for others, it’s branding. For us, it’s digital marketing through search engines and SEO.

What books, podcasts, or people have been the most influential on your journey?

I watch a lot of Ted Talks. I think a good one is Catch of The Decade by Gabby Leibovich.

How are things going today and what does the future look like?

Things are going great. We recently acquired another party store, and we’re looking to open more stores.

Any advice for others who are just starting out?

Focus on a niche and smash it. Be the best at a very narrow niche and grow from there. If you try to be good at a lot of things to start, it just won’t work.

What’s the best way for people to connect and follow you? Website, Social Profiles, Etc…

www.ThePartyPeople.com.au
Facebook
Instagram