Usually means: Direct sales through social events.
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We found 7 dictionaries that define the word party plan:

General (6 matching dictionaries)
  1. party plan: Longman Dictionary of Contemporary English
  2. party plan: Oxford Learner's Dictionaries
  3. party plan: Collins English Dictionary
  4. party plan: Wiktionary
  5. Party plan: Wikipedia, the Free Encyclopedia

Business (1 matching dictionary)
  1. BusinessDictionary.com (No longer online)

Definitions from Wiktionary (party plan)

noun:  A business model for marketing products by hosting social events, for example in the marketer's house, at which they are offered for sale.

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