There are moments in peoples’ lives, when it comes to organizing events, that they may not be as skilled (or qualified) as they think they are. This is where event planners enter the picture.
If you’re well-versed in organizing events and managing conferences, memorials, etc., designing and providing events for corporate (and individual) clients, then you should start an event planning business.
Here is how to get started.
There’s a dramatic number of tasks, when conducting an event, that change within a moment’s notice. Therefore, this job is perfect for you if you are an on-the-go thinker who thrives on a whirlwind of change in a heartbeat. This means being innately creative, as well as sociable with people.
2. Are You Made For It?
Knowing how to start an event planning business, from a professional point of view, follows the same principles of starting any business. If you’re not sure where to start, the Small Business Administration (SBA) website will help you with the basics.
As an event planner, you may handle any or all of these tasks associated with the event:
- Conducting evaluations
- Offering supervision
- Coordinating personnel at the event
- Arranging attendee accommodation
- Providing transportation for guests and attendees
- Finding a location that’s affordable
These duties and responsibilities go beyond having the skillset to perform them well. These require astute dedication and super-organisation attributes. Event planners are the “go-to” experts – often at the request of business owners with business’ profits hanging on the line.
3. Understand the Rules and Regulations
Starting a business often requires having thorough knowledge about federal taxes, selecting a strong business structure, and astute recordkeeping that clearly shows your income and expenses.
For a start, you may want to review your state’s website on the requirements for starting a business in your state.
Ask yourself this: would you trust your $25,000+ car to an uncertified mechanic that you don’t know? Be honest with yourself. I’m willing to bet that you wouldn’t. So why would potential clients, who don’t know you, use your event planning service if you were uncertified?
There are several event management certification courses you can take to give you experience in this industry. When you’re starting an event planning business, your credentials help you in securing a business without having sufficient track record. Indeed, being certified puts the odds in your favor of looking attractive to potential clients.
5. Build a Business Plan
Writing a business plan is challenging. Writing an events planning business plan even more so.
Fortunately, looking at several business plans (for various industries, selling to different markets), there are a lot of similarities. In essence, a business plan describes the future of your proposed business. It is a document of proof of what you will need to do, as well as how to do it.
6. What does Your Clients Want?
Even if you know how to start an event company, identifying your target market—that is, your ideal audience of people whom you want to buy from you—is the difference between a successful business and going belly up next year. Without knowing what it is your clients are looking for, from you, you will not be able to effectively manage their events.
In order to be successful (in any business), it is imperative to give clients what they ask for. What you are after, and what you want, is to find out who is a part of your niche market.
Whether you’re planning celebrations, offering formal conferences and meetings, or simply launching products or funding rallies for political purposes… there is no shortage of people who require the utmost expertise. Event planners are, I think, specialized experts whom business owners and corporate “big wigs” need.
Starting such a business is the thrill of a lifetime – start today!