Thinking of starting your own event planning business? It can be a fruitful venture as the event industry is highly profitable and is growing rapidly. But event management involves various things from meticulous organization to artistic expression. So, for this type of business, hard work, passion, and dedication are mandatory. However, this does not mean that you cannot grow your business in event planning services without prior experience. Here is all about how to start an event planning business.
This blog is for motivated aspirants for you who are keen to enter the event management world. Here can learn how to start an event planning business with no experience. So, stay tuned till the end to get tips and ideas that can help you build your dream business from scratch.
What's Event Planning?
Event planning is managing the details of small and big events, such as parties, conferences, and meetings. These businesses usually organize:
- Major educational meetings like conferences and graduations
- Promotions such as product launches, fashion shows, and marketing events
- Trade shows, cocktail hours, galas, and other corporate events
- Social events and celebrations, including weddings, parades, reunions, birthdays, and more
What Do Event Planners Do?
An event planning company provides the following services:
- Event coordination and management
- Theming, styling, and décor
- Exhibitions and conferencing
- Venue sourcing
- Branding and signage
- Talent management and entertainment
- Catering services (food management)
- Audio-visual production
- Guest management
Reasons to Start Your Event Planning Business
Event planning is a rewarding and dynamic profession. If you're still not sure, here are some compelling reasons why you should consider becoming an event planner:
- The diversity offered by an event planning business is fascinating. You will organize corporate conferences, fundraisers, music festivals, and weddings. It will be so much better than a monotonous desk job.
- You will get flexible schedules, enabling you to create a nice work-life balance.
- Party planning will get deep personal satisfaction.
- The startup costs aren't high and so, you need not worry even if you have limited funds.
- The field is ever-evolving. Hence, there will be constant learning and quick growth.
- You will become adept at problem solving and this quality will help you in your personal life as well.
- Event planning requires teamwork and collaboration. Naturally, you will have fun interacting with decorators, caterers, and vendors.
- It is a global profession. When your business grows, you will get amazing opportunities from all over the world. If you love to travel and explore diverse traditions and cultures, starting your own event-planning business makes even more sense.
Guide to Starting an Event Planning Business
To start a business, every business owner must do their homework. Scroll down to learn the steps to run a successful event management agency.
1. Evaluate and enhance your skills
Beyond the grandeur of high-profile parties, event planning involves various tasks. There's be various responsibilities like finding a perfect venue, booking vendors, choosing the event theme, etc. You have to multitask and stay calm under pressure.
So, before creating a business, you must gain some experience. For hands-on experience, you can shadow an accomplished event planner. Planning events under the guidance of an experienced professional will teach you a lot. You should also get certified as your certification will convince your future clients to rely on you.
2. Identify your niche
Once you've acquired the necessary event planning skills, it's time to think how you'd like your company to operate. As yours is a new business, trying to organize all kinds of events can be a hassle. So, ask yourself what you'd enjoy more - corporate events or social events? This decision should be made after evaluating multiple factors like set-up costs, your areas of expertise, the number of employees you'll require, etc.
So, research well before finalizing your niche. When you are sure, come up with a business name that reflects the image of your brand.
3. Create a solid business plan
Irrespective of the type of startup, a detailed plan is a must. A good plan will contain everything about your business - the business structure, the funds to be spent on each aspect, the target audience, the marketing plan, short-term and long-term goals, and so on.
This document will remain as your roadmap, guiding you in knowing how to proceed systematically.
4. Develop a marketing strategy
Since you're a new event planning agency, nobody knows about you. So, how will potential clients find out about your company? How are you going to attract customers and why should they give you an opportunity?
That's why your marketing strategy should be part of your event planning business plan. You can do content marketing to increase brand awareness and generate leads. Search engine marketing is another inexpensive option.
5. Get permits
Imagine putting in all the hard work and then your company getting shut due to legal reasons. It can be devastating for you, your family, and your employees. So, to protect yourself and your clients, obtaining the necessary permits is crucial.
First, select a legal structure that's apt for you. Also keep in mind that permits may differ based on your location. You can get in touch with local authorities to figure out which permits are compulsory. Some examples of permits for event-planning business include noise permit, fireworks permit, seller's permit, and liquor license.
6. Start networking
Lastly, understand that you won't become the best event manager overnight. You have to gain practical experience, and you can accomplish this in numerous ways:
- Attending events and meetups for the industry
- Taking part in online forums or groups for event planning.
- Collaborating with industry professionals to make yourself visible
- Building a rapport with non-profit groups running various types of events in your neighborhood
- Offering free consultations to acquaintances who need assistance is hosting parties
The Takeaway
Event planning is not just another business but can be a fulfilling and unique pathway for people who enjoy giving memorable experiences to others. So, stay focused, be patient, and enjoy your work to grow your event planning business.
Lastly, you should promote your business on Pinterest as it is an excellent visual discovery engine. By creating a Pinterest business account, you can visually showcase your opulent decorations, event ideas, and aesthetic venue options. All these will attract new clients and your small business with soar. To know more, get in touch with Pinswizard as we offer personalized Pinterest services.
