Starting your own event planning business can be a very lucrative endeavor. However, there are a few things you need to do in order to get started off on the right foot.
In this guide, we will walk you through everything you need to know in order to start your own event planning business.
From getting started with your business plan, to finding clients and marketing your services, we have you covered.
So let’s get started!
What is an event planning business?
An event planning business is a service that helps clients plan and execute events. This can include anything from weddings to corporate functions and everything in between.
As an event planner, you will be responsible for ensuring that your client’s event goes off without a hitch. This means coordinating with vendors, handling logistics, and being on-site to troubleshoot any issues that may arise.
Why start an event planning business?
There are a few reasons why starting your own event planning business can be a great idea.
First of all, it is a very lucrative business. Event planners can charge a pretty penny for their services, especially if they have a lot of experience and connections in the industry.
Another reason to start an event planning business is that it can be quite fun and rewarding. If you love planning parties and working with people, then this may be the perfect business for you.
Lastly, starting your own event planning business gives you the opportunity to be your own boss. If you’re tired of working for someone else and want to call the shots, then this is definitely the way to go.
Challenges of starting an event planning business
Of course, starting any business comes with its own set of challenges. And event planning is no different.
One of the biggest challenges you’ll face is getting started with your business plan. This can be a daunting task, especially if you’ve never written one before.
Another challenge you may face is finding clients. It can be tough to get your name out there and attract event planners who are looking for someone like you.
Lastly, you’ll need to make sure that you have a solid marketing strategy in place. You need to let people know about your event planning business and what it has to offer.
Fortunately, we will help you overcome all of these challenges in this guide. By the end, you’ll be ready to start your event planning business and make it a success.
How to gain event planning skills and experience
If you’re interested in starting your own event planning business, but don’t have any event planning experience, don’t worry. There are a few ways to gain the skills and experience you need.
One way to do this is to volunteer with event planning organizations or charities. This will give you the opportunity to work on real events and get a feel for what the job entails.
Another way to gain event planning experience is to intern with an event planner. This is a great way to learn the ropes and see if event planning is really for you.
If you know someone who owns an event planning business, you could also ask if you can shadow them for a day or two. This will give you a first-hand look at what event planners do on a day-to-day basis.
Once you have some event planning experience under your belt, you’ll be ready to start your own event planning business.
Step by step guide to starting an event planning business
The steps below will help you get your event planning business up and running.
Step 1 – Create a business plan
The first step in starting your event planning business is to create a business plan. This document will outline your business goals, strategies and how you plan on achieving them.
Your event planning business plan should include:
- A description of your event planning services
- Your target market
- Your pricing structure
- A marketing plan
- A management and operations plan
- Your financial plan
Step 2 – Choose a business structure
The next step is to choose a business structure for your event planning business. The most common business structures for event planners are sole proprietorships, partnerships, and limited liability companies (LLCs).
Each option has its own advantages and disadvantages, so be sure to do your research before making a decision.
If you’re not sure which business structure is right for you, it’d be best to talk to an attorney or accountant.
Step 3 – Get licenses and permits
Depending on the type of event planning business you want to start, you may need to get some licenses and permits. For example, if you’re planning on serving alcohol at events, you’ll need to get a liquor license.
Other common event planning business licenses and permits include food handler’s permits, event insurance, and business licenses.
Step 4 – Register your business
Once you have your event planning business licenses and permits in hand, you’ll need to register your business with your local state.
This process will vary depending on your business structure and location, but generally speaking, you’ll need to file some paperwork with your local government office.
Step 5 – Get business insurance
As an event planner, it’s important to have business insurance to protect yourself from liability. This will cover you in the event that something goes wrong at an event you’re planning.
There are a variety of event insurance policies to choose from, so be sure to talk to an insurance agent to find the right one for your business.
Event insurance will protect your business from liability in the event that something goes wrong during an event.
There are a variety of event insurance policies available, so be sure to speak with an insurance agent to find the right one for your business.
Step 6 – Find event venues
If you’re going to be planning events, you’ll need to find event venues. Event venues can be anything from hotels and banquet halls to outdoor parks and private homes.
The type of event you’re planning will dictate the type of venue you need. For example, a corporate event will likely require a more upscale venue than a child’s birthday party.
Step 7 – Secure funding
If you don’t have the money to start your event planning business, you’ll need to secure funding from outside sources.
One way to do this is to apply for a small business loan. Another option is to find investors who are willing to put money into your event planning business.
Step 8 – Choose a business location
If you’re starting a brick-and-mortar event planning business, then you’ll need to choose a location for your business.
When choosing a location, there are a few things you’ll need to take into consideration, such as the size of the space, the rent price, and whether it’s easily accessible for your clients.
Step 9 – Set up your event planning business
Once you’ve chosen a location for your event planning business, it’s time to set up shop. This includes furnishing your event space, buying event planning software, and stocking up on supplies.
Step 10 – Market your event planning business
The final step in starting your event planning business is to market your services. There are a number of ways to do this, but some common marketing strategies include creating a website, setting up social media accounts, and attending industry events.
Now that your event planning business is up and running, it’s time to start marketing your services. There are a variety of ways to market your business, such as creating a website, distributing flyers, and advertising in event planning directories.
You can also get the word out by networking with other event professionals and forming partnerships with related businesses.
Another good way to market your event planning business is to join an event planning association.
Joining an event planning association will give you access to industry resources, networking opportunities, and marketing tools.
Step 11 – Outline your event planning services
Another important step in starting your event planning business is to outline the services you’re going to offer.
This includes deciding what types of events you’re going to specialize in, such as weddings, corporate functions, or birthday parties.
You’ll also need to decide what kind of event planning services you’re going to provide, such as full-service event planning, day-of event coordination, or event design.
Once you have a good understanding of the event planning services you’re going to offer, you can start creating your event planning business plan.
Step 12 – Set your event planning service fees
Another important aspect of starting your event planning business is setting your service fees.
When determining your event planning fees, you’ll need to take into account the cost of your time, the cost of event supplies, and the going rate for event planners in your area.
Once you have a good understanding of your event planning costs, you can start setting your event planning service fees.
Step 13 – Get your website up and running
One of the best ways to market your event planning business is to have a professional website.
Your website should include information about your event planning services, your event planning rates, and contact information.
If you’re not sure how to create a website, there are a number of website builders that can help you get started. Once your website is up and running, be sure to promote it on social media and in event planning directories.
Step 14 – Find suppliers and staff
If you’re going to be running a successful event planning business, then you’re going to need to find reliable suppliers and event staff.
Some event planning businesses work with a network of event suppliers, while others have their own in-house event staff.
In either case, it’s important to build good relationships with your event suppliers and staff so that you can ensure a smooth event planning process.
Step 15 – Develop an event planning portfolio
One of the best ways to market your event planning business is to develop an event planning portfolio.
Your event planning portfolio should include photos and descriptions of the events you’ve planned, as well as testimonials from satisfied clients.
A well-developed event planning portfolio will help you attract new clients and grow your event planning business.
Step 16 – Stay organized
One of the most important aspects of running a successful event planning business is staying organized.
This includes keeping track of your event calendar, maintaining accurate client information, and having a system for storing event supplies.
There are a number of event planning software programs that can help you stay organized, such as Eventbrite and Google Calendar.
By following these steps, you’ll be well on your way to starting a successful event planning business.
How much does it cost to start an event planning business?
The cost of starting an event planning business can vary depending on a number of factors, such as the cost of event supplies, the cost of event software, and the going rate for event planners in your area.
How do I get started in event planning?
If you’re interested in getting started in event planning, the first step is to create an event planning business plan. This will help you determine the types of events you’re going to specialize in, the services you’re going to offer, and how you’re going to market your business.
What are some good event planning tips?
Some good event planning tips include staying organized, building good relationships with event suppliers, and having a system for tracking event expenses.
What are some good event planning software programs?
Some good event planning software programs include Eventbrite and Google Calendar. These programs can help you stay organized and track event expenses.
How do I find event planning clients?
There are a number of ways to find event planning clients, such as promoting your business on social media, in event planning directories, or through word-of-mouth. You can also join an event planning association, which will give you access to industry resources and networking opportunities.
By following these steps, you’ll be well on your way to starting a successful event planning business.
Starting an event planning business can be a lucrative and exciting venture, but it takes a lot of hard work and organization to be successful.
Stay organized, build good relationships with event suppliers and staff, and develop an event planning portfolio to attract new clients.
By following the steps in this guide, you’ll be well on your way to starting a successful event planning business.