K.B.
I love getting kids a bouncy house with a teen to watch the kids, but I don't know if other parents will want to kick in at that time of year. Some places have them half off this time of year because a little money is better than no money.
I also love crafts. Reindeers using three popsicle sticks in a triangle with wiggle eyes, a red ball nose, and a tie. Also reindeer food(oatmeal with glitter in a baggy). Michaels has foam kits, but the glue never sticks well and kids have trouble=no fun. There is special foam glue which helps.
There are tons of games painted for Christmas in the Oriental Trading Catalog and S&S as well. You could reuse them yearly.
Reindeer Run(races), Pin the red nose on the rudolph, etc...
Have fun.