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Event Planning Company Business Plan

Written by Dave Lavinsky

Event Planning Business Plan

You’ve come to the right place to create your event planning business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their event planning companies

Below is an event planning business plan sample to help you create each section of your Event Planning business plan.

Executive Summary

Business overview.

Special Occasions Event Planning is a startup event planning business located in Des Moines, Iowa. The Company is founded by Jennifer Brown, an experienced event planner who has been planning themed weddings and birthday parties as the manager of a local event venue for the past ten years. Now that Jennifer has gained valuable experience managing an event venue and planning special events of various sizes and styles, she is ready to start her own event planning company, Special Occasions Event Planning. Jennifer is confident that her event planning skills, combined with her understanding of business management, will enable her to run a profitable event planning company of her own. Jennifer is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running an event planning business – sales and marketing, supply sourcing and procurement, customer relationship management, budgeting, financial reporting, and vendor relationship management. 

Special Occasions Event Planning will provide customized event planning services for special occasions big and small. Special Occasions will specialize in themed birthday parties, but will provide planning services for other types of events such as weddings, parties, and corporate gatherings upon request. The Company will be the ultimate choice for unique and memorable themed birthday parties for clients of all ages. 

Product Offering

The following are the event planning products and services that Special Occasions Event Planning will provide:

  • Venue Sourcing 
  • Tables & Chairs
  • Dinnerware & Utensils
  • Caterer Coordination
  • Entertainment
  • Party Favors
  • Photography/Videography
  • Lighting/Sound
  • Bartending/Liquor 
  • Set-up/Clean up

Customer Focus

Special Occasions Event Planning will target individuals, families, and social groups in Des Moines, Iowa. The Company will target people looking to plan a one-of-a-kind birthday party for their child, significant other, friend, or other relative. No matter the customer, Special Occasions Event Planning will deliver the best communication, service, and attention to detail. 

Management Team

Special Occasions Event Planning will be owned and operated by Jennifer Brown. Jennifer is a graduate of Iowa University with a degree in Business Management. She has over ten years of experience working as an event planner for another local venue. Jennifer will be the Company’s Chief Executive Officer and the Head Event Planner. She will lead the more complex events and oversee the event planning staff. 

Jennifer has recruited an experienced administrative assistant, Patricia Smith, to help manage the day-to-day business operations. Patricia has been an administrative assistant in the event planning industry for more than 15 years. Jennifer relies on Patricia’s organization, attention to detail, and punctuality when organizing her schedule, managing clients, and maintaining her files. 

Jennifer and Patricia have recruited an experienced marketing director, John Jones, to become a member of the Special Occasions Event Planning management team. John is a graduate of the University of Iowa with a Bachelor’s degree in Marketing. Jennifer and Patricia rely on John’s expertise to execute the Company’s marketing plan and advertising strategies.  

Success Factors

Special Occasions Event Planning will be able to achieve success by offering the following competitive advantages:

  • Skilled team of event planners who will ensure every client receives exceptional customer service and that all reasonable requests are met. 
  • Special Occasions Event Planning’s leadership team has established relationships with local venues, vendors, and entertainers, thus providing customers with a wide selection of options to choose from when planning their special event. 
  • The Company specializes in the themed birthday party niche and is well-versed in the latest trends in the industry. 

Financial Highlights

Special Occasions Event Planning is seeking $200,000 in debt financing to launch its event planning business. The funding will be dedicated towards securing an office space and purchasing equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff and marketing expenses. The breakout of the funding is below:

  • Office lease and renovation: $80,000
  • Office equipment, supplies, and materials: $20,000
  • Three months of overhead expenses (payroll, utilities): $90,000
  • Marketing costs: $10,000
  • Working capital: $10,000

The following graph below outlines the pro forma financial projections for Special Occasions Event Planning.

Company Overview

Who is special occasions event planning .

Special Occasions Event Planning is a newly established event planning company based in Des Moines, Iowa. Special Occasions will be the first choice for unique themed birthday parties for people of all ages in Des Moines and the surrounding communities. The company will provide customized event planning services for parties large and small. 

Special Occasions Event Planning will be able to provide all the essentials for any special event from highly rated caterers to the hottest entertainment due to the Company’s existing relationships with industry professionals and vendors. The Company’s team of highly qualified event planning professionals will manage the entire planning process from ideation to execution. Special Occasions even provides clean-up services. Clients can opt for full-service event planning services or purchase specific aspects (such as decor or catering) a la carte. 

Special Occasions Event Planning History

Special Occasions Event Planning is owned and operated by Jennifer Brown, an experienced event planner who has been planning themed weddings and birthday parties as the manager of a local event venue for the past ten years. Now that Jennifer has experienced managing an event venue and planning special events of various sizes and styles, she is ready to start her own event planning company. Jennifer is confident that her event planning skills, combined with her understanding of business management, will enable her to run a profitable event planning company of her own. Jennifer is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running an event planning business – sales and marketing, supply sourcing and procurement, customer relationship management, budgeting, financial reporting, and vendor relationship management. 

Since incorporation, Special Occasions Event Planning has achieved the following milestones:

  • Registered Special Occasions Event Planning, LLC to transact business in the state of Iowa. 
  • Has signed a contract to lease the office space. 
  • Reached out to numerous contacts to include local venues, catering companies, entertainers, and decor suppliers to spread the word about her new business opportunities. 
  • Began recruiting a staff of accountants, event planners, sales and marketing associates, and office staff to work at Special Occasions Event Planning Services.

Special Occasions Event Planning Services

Industry analysis.

The Party and Event Planning industry in the United States is valued at approximately $4B, with 70,000 businesses in operation, and over 82,000 employees. The market for event planning services is expected to grow over the next several years due to an aging baby boomer population, many of whom have children and grandchildren who will have weddings, birthday parties, graduations, anniversaries, and other special events in the coming years. Additionally, the corporate event planning segment is expected to grow due to more companies pursuing team building opportunities and hosting events that can serve as marketing for the business. 

The event planning market is split into two broad segments: corporate and social. Corporate events such as holiday parties, meetings, trade shows, conventions, fundraisers, and receptions are just some of the events included in this segment. Corporate customers include companies, non-profit organizations, and charities. The social segment includes a wide range of special occasions such as weddings, bridal showers, birthday parties, anniversary parties, reunions, and more. The largest and most lucrative category in the social event planning segment is wedding planning. 

Industry operators can specialize in one or two niches such as wedding planners or corporate planners. Alternatively, industry operators can provide planning services for a wide range of events. Industry operators that specialize in a specific niche and even narrow their niche to a specific type of event, such as “kids’ parties” or “fashion shows” may have more success because they can become an expert in one area and target a highly specific customer segment. Industry operators who provide a broad range of services to a variety of customers can be successful if they provide high levels of organization, customer service, and unique or highly customized services. 

Customer Analysis

Demographic profile of target market.

Special Occasions Event Planning will target individuals, families, and social groups in Des Moines, Iowa. The Company will target people looking to plan a one-of-a-kind birthday party for their child, significant other, friend, or other relative. Special Occasions Event Planning will also target young adults looking to plan a memorable, themed 21st birthday party. No matter the customer, Special Occasions Event Planning will deliver the best communication, service, and attention to detail. 

The precise demographics for Des Moines, Iowa are:

Customer Segmentation

Special Occasions will primarily target the following customer profiles:

  • Millennials
  • Individuals with disposable income
  • Families with children and disposable income

Competitive Analysis

Direct and indirect competitors.

Special Occasions Event Planning will face competition from other companies with similar business profiles. A description of each competitor company is below.

Emily’s Event Planning

Established in 2017, Emily’s Event Planning is now a well-known event planner in the Des Moines, Iowa area. The company provides event planning services for large corporate events, weddings, and birthday parties. Emily’s Event Planning is most well-known for its picturesque venue choices. The company has relationships with some of the most in-demand venues in the area. Emily’s Event Planning provides an all-inclusive event planning and management service with packages that include venue rental, decor, entertainment, food, and clean-up services. 

While Emily’s Event Planning has an established reputation in the market for quality event planning services, it has a list of predefined event packages and does not customize its services or take unique requests from customers. 

Fancy Event Planner

Fancy Event Planner has been operating in the state of Iowa since 1982. This company is a small business run by a husband and wife team that specializes in event planning and catering services for weddings, birthday parties, and other special occasions. Fancy Event Planner provides decor, venue coordination, and food service for events of up to 100 guests. The company specializes in providing gourmet dinners, desserts, and appetizers. Additionally, Fancy Event Planner provides hand crafted decor and floral arrangements for weddings and parties. Fancy Event Planner is for customers looking for an elegant presentation in a traditional setting. 

Fancy Event Planner has a limited selection of services and does not offer entertainment, set-up/clean-up, lighting/sound, or liquor accommodations. 

Wonderfully Perfect Event Planning Services

Wonderfully Perfect Event Planning Services is a new Des Moines, Iowa-based event planner that provides superior service to its customers. The company is managed by an experienced entrepreneur who has been working in the hospitality industry for over 20 years. She opened Wonderfully Perfect Event Planning Services in 2019 when she discovered a lack of options for themed party planning in the area. The company provides customized planning services for any event and will strive to ensure all customer requests are met to ensure a perfect event experience every time. 

The company does not have established relationships with vendors, venues, or entertainment in the area and as such, trails behind Special Occasions Event Planning in this area. 

Competitive Advantage

Special Occasions Event Planning will be able to offer the following advantages over the competition:

  • Skilled team of experienced event planners who are able to provide customized planning services and fulfill any reasonable request. 
  • Special Occasions Event Planning’s management team has long-standing relationships with industry professionals and is able to provide customers with a wide selection of options when it comes to venues, entertainment, and catering.  
  • The Company specializes in themed birthday parties and keeps up on the latest trends in the industry. 

Marketing Plan

Brand & value proposition.

Special Occasions Event Planning will offer the unique value proposition to its clientele:

  • Special Occasions Event Planning provides full-services event planning from ideation to execution. 
  • The Company’s wide selection of options allows each customer to create their dream event.  

Promotions Strategy 

The promotions strategy for Special Occasions Event Planning is as follows:

Social Media Marketing

The Company’s marketing director will create accounts on social media platforms such as LinkedIn, Twitter, Instagram, Facebook, TikTok, and YouTube. He will ensure Special Occasions maintains an active social media presence with regular daily updates and fun content to get customers excited about using the Company’s event planning services. 

Professional Associations and Networking

Special Occasions Event Planning will become a member of professional associations such as the Event Planners’ Association, American Party Planning Society, and the Iowa Special Event Association. The leadership team will focus their networking efforts on expanding the Company’s vendor and client network. 

Print Advertising

Special Occasions Event Planning will invest in professionally designed print ads to display in programs or flyers at industry networking events. The Company will also send direct mailers to local businesses with employees who are in the target market. 

Website/SEO Marketing

Special Occasions Event Planning will utilize its in-house marketing director that designed the print ads to also design the Company’s website. The website will be well organized, informative, and list all the services that Special Occasions is able to provide. The website will also list information on the Company’s events and promotions. 

The marketing director will also manage the Company’s website presence with SEO marketing tactics so that when someone types in a search engine “Des Moines Event Planner” or “Event Planner near me”, Special Occasions Event Planning will be listed at the top of the search results.

The pricing of Special Occasions Event Planning will be premium due to the high level of customization and hands-on planning services involved. Customers will feel they receive great value when purchasing the Company’s services.  

Operations Plan

The following will be the operations plan for Special Occasions Event Planning.

Operation Functions:

  • Jennifer Brown will be the CEO and Head Event Planner. She will lead the more complex events and oversee the event planning staff. Jennifer has spent the past year recruiting the following staff:
  • Patricia Smith – Administrative Assistant who will manage the budgeting, vendor relationships, and logistics.
  • Sam Johnson – Accountant/Bookkeeper who will provide all accounting, tax payments, and monthly financial reporting.
  • John Jones – Marketing Director who will oversee all marketing strategies for the Company and manage the website, social media, and outreach. 
  • Michelle Garcia – Customer Success Officer who will oversee customer relationships. 

Milestones:

Special Occasions Event Planning will have the following milestones complete in the next six months.

11/1/2022 – Finalize contract to lease the office space. 

11/15/2022 – Finalize employment contracts for the Special Occasions Event Planning management team.

12/1/2022 – Begin renovations on the office and purchase office equipment and supplies. 

12/15/2022 – Begin networking at industry events and implement the marketing plan. 

1/15/2023 – Begin recruiting and training office staff and event planners. 

2/15/2023 – Special Occasions Event Planning officially opens for business. 

Financial Plan

Key revenue & costs.

The revenue drivers for Special Occasions Event Planning are the fees charged to customers in exchange for the Company’s event planning services. Customers will be able to purchase full-service, customizable packages or select specific aspects (such as entertainment or catering) a la carte. 

The cost drivers will be the overhead costs required in order to staff an event planning business. The expenses will be the payroll cost, utilities, party supplies, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Average number of events per month: 4 
  • Average fees per month: $20,000
  • Overhead costs per year: $360,000

Financial Projections

Income statement, balance sheet, cash flow statement, event planning company business plan faqs, what is an event planning company business plan.

An e vent planning company business plan is a plan to start and/or grow your event planning company business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your event planning company business plan using our Event Planning Company Business Plan Template here .

What are the Main Types of Event Planning Companies?

There are a number of different kinds of event planning companies , some examples include: Corporate Events, Social Events, and Niche Events Planning.

How Do You Get Funding for Your Event Planning Company Business Plan?

Event planning companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. This is true for an event business plan or an event management business plan.

What are the Steps To Start an Event Planning Business?

Starting an event planning business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An Event Planning Company Business Plan - The first step in starting a business is to create a detailed event planning company business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your event planning business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your event planning business is in compliance with local laws.

3. Register Your Event Planning Business - Once you have chosen a legal structure, the next step is to register your event planning business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your event planning business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Event Planning Company Equipment & Supplies - In order to start your event planning business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your event planning business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful event planning business:

  • How to Start an Event Planning Business

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How to Write an Event Planning Business Plan + Free Template

business plan for events management company

Planned a few events in the past?

And, if you feel that event planning is your forte, and you have ideas that are both creative and functional, event planning might be an exciting endeavor for you!

Although most people start out by working under someone, everyone dreams of starting their own event planning business.

Also, you are about to go ahead and start yours; wait a moment!

You might have sufficient knowledge for planning events, but navigating the complexities of the event planning industry needs a well-thought-out roadmap. And that roadmap is a comprehensive event management business plan.

Yes, you read it correctly. A business plan can be of great help while starting your own event planning company. It not only sets the foundation for your venture but also enhances your opportunities for success.

So, we have created a Sample Event Planning Business Plan for you to get a good idea about how a perfect event business plan should look like!

Now, without any further ado; let’s explore all the details you will need to write in your stunning business plan.

Key Takeaways

  • Clearly define your goals, mission statement, service offerings, and management team in your business plan.
  • Perform thorough market and industry analysis to identify target customers, and adapt to the latest trends.
  • Present a realistic financial plan, including startup costs, revenue projections, and a break-even analysis to attract investors.
  • Effectively draft your pricing strategy and unique selling propositions to meet the specific needs of your target customers.
  • Provide a clear outline of your business operations to efficiently deliver your planning services and seize new opportunities.
  • Craft your marketing techniques, sales tactics, and promotional activities to reach a wider audience.
  • Recognize your key competitors, and develop strategies that make your event planning business stand out in the competitive landscape.

How to Write an Event Planning Business Plan?

  • Get a Business Plan Template
  • Write an Executive Summary
  • Provide a Company Overview
  • Conduct an Industry and Market Analysis
  • Describe your Product and Service Offerings
  • Outline a Sales and Marketing Plan
  • Introduce Your Team
  • Outline Business Operations
  • Prepare a Financial Plan

1. Get a Business Plan Template

Before you start writing a business plan for your event planning business, it is recommended to get a business plan template first.

It’s like having a valuable resource for your business planning. It not only simplifies the business plan writing process but also helps you include all the essential elements in your plan.

However, you can effectively organize your thoughts and accurately draft a strategically sound business document according to your specific requirements and preferences.

Not only that, it sets the stage for a comprehensive, professional business plan that empowers you to highlight your vision, attract potential investors, and navigate the competitive event planning landscape.

If you are a budding entrepreneur or looking for a polished template, choose Upmetrics’ business plan template now and ensure that you won’t skip any important facts in your plan.

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2. Write an Executive Summary

An executive summary is the first and foremost section of your event planning business plan. It provides a brief introduction to the entire business plan.

Make sure that it is clear, concise, and engaging, as it will create your first impression and attract investors or readers to delve further into your plan.

Start this section by describing your idea behind an event planning and type of business; for example, are you a startup business, want to grow an existing one, or running a business chain?

Communicate your business objectives and emphasize how you will be different from other event-planning businesses. Here is an example of event planning objectives using Upmetrics:

example of event planning objectives

Next, give an overview of each of the subsequent sections, including offered services, market opportunities, marketing strategies, and financial projections that will be explored in greater detail within the plan.

Not only that, you can end this summary with a compelling call to action, inviting potential investors or readers to the next meeting if they are interested in your event planning.

Generally, this section is written after the whole event business plan is ready. It is often the easiest way to do so as you have simply gone through and written all the key sections of your plan.

3. Provide a Company Overview

Now, provide detailed information about your event plan business. It contains ownership, legal structure, office location, business history, and other such business-related facts.

Begin with the intro of what type of events you are organizing. For instance, it will be corporate events (catering to businesses), social events/celebrations(wedding planning, birthday parties, etc), or niche events(specialized in just one type).

Discuss a little bit more about your business history, including when you started event planning and what milestones you have accomplished. Also, accentuate your mission statement.

Take reference from the below example describing the mission of the event planning company:

In an ever-changing, fast-paced world, success is determined by good choices for lasting effects. Eventel strives to be the best choice for clients by helping to ease their event planning burden.

Through consistent, predictable professionalism, Eventel will ensure a worry-free and hassle-free event at a reasonable price.

Event also has internal clients to serve. The event will strive to provide the same predictable and professional working environment to its employees and contracted vendors, justly compensating them for their services.

It is also a priority to make a comfortable living wage for its owners, founders, full-time staff, and their families.

Keeping in tune with the needs of the market, utilizing the latest technology and trends, all while ensuring the client receives the individual attention they deserve, is the vision and daily mission of Eventel; The Event Planning Specialists.

In addition to that, you can mention your startup summary and future business goals, as this section gives an in-depth overview of your business.

4. Conduct an Industry and Market Analysis

Starting an event management business requires a strategic events industry and market analysis. So, take some time to go further and locate more accurate data.

Try to include certain key elements in this section:

Market size and growth potential

You need to study specific data about various markets in which you are trying to get into and ensure profitability. So, describe your market size & growth potential and whether you will target a niche or a much broader market.

For instance, the USA industry revenue for event planners has grown at a CAGR of 4.1% over the past five years and reached $5.6 billion in 2023. So, it is crucial to define the target market segment.

Target market segment

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Do proper market research and try to create a buyer’s persona in terms of their demographic and psychographic profiles.

Take reference from the below example written using our innovative AI writing assistant :

Competitive analysis

Identify and analyze your direct and indirect competitors. Recognize their strengths & weaknesses, and describe what differentiates your business from other planners.

Direct competitors can be other event planning businesses, while wedding planners, local venues, caterers, or conference centers can be indirect competitors.

Point out how you have a competitive edge in the market, such as superior event management options, user-friendly methods/tools to book your services, and adequate pricing plans with better services.

Not only that, describe emerging market trends in the industry and explain how you will cope with all the directions. You can also list regulations and licensing requirements that may affect your company.

5. Describe your Product and Service Offerings

Next, specify the scope of your products and service offerings. As an event management business, you can describe the size and type of events you cater to, including a variety of event planning services.

This section must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors or readers understand the value of your business.

While drafting your  event planning services and products, you can take reference from the below example:

Eventel provides event planning in a wide range of applications. We guarantee satisfaction in the areas of appearance, performance, and taste. 

The following is a sampling of the types of events we plan every year:

  • Corporate events or meetings, Training, and Retreats
  • Conferences and Workshops
  • Birthday parties, Anniversaries, Graduations, and Holidays
  • Weddings, Receptions, and Showers
  • Company picnics, banquets, and award ceremonies
  • Caterer coordination and decor
  • Trade shows and fashion shows

Effectively define your pricing plans for event planning services. Also, communicate your services to the customers by sharing a detailed description of the procedure you use while working with clients.

Mention if your event planning company offers any additional services. You may include services like lighting & sound, vendor negotiation, guest concierge services, etc.

6. Outline a Sales and Marketing Plan

Writing the sales and marketing strategy section means a list of tactics you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing strategies:

Social media marketing

Use social media platforms to present your company’s essence. Regularly post exquisite snapshots or videos of your planned social events, decor, and behind-the-scenes moments.

User-friendly website

Assure that your event management company has a user-friendly website that provides basic information about your services, pricing, and contact

details. Also, share informative blog post content or event videos.

Pricing strategy

Describe your pricing strategy—how you plan to price your services and stay competitive in the local market. You can mention any discounts you plan on offering to attract new customers.

Collaborations

Build an extensive vendor network to expand your reach and draw their existing customers. This might do wonders for your business and enhance your brand image.

Offline advertising

Effectively reach your target audience using offline advertising methods like brochures, newspapers, social gatherings, or events. Also, try to offer a personalized approach or stress-free planning to retain existing clients.

7. Introduce Your Team

A powerful management team is paramount for demonstrating your business’s ability to thrive in the event planning industry.

Letting your readers or investors know about your business leadership or key managers will help them have a clear idea of who is running your event planning company.

So, start this section by introducing key team members and highlighting their event planning skills & previous experience.

Jot down their qualifications and specific responsibilities. You can also shed light on how your experienced event planners contribute to the success of your business.

management team example for event planning business

Next, describe the compensation plan for the leadership team and event planners, including salaries, bonuses, and other benefits. This can help key stakeholders to ascertain how much percentage is allocated to salaries.

If you have a board of advisors for your event management business, then mention them along with their roles and experience.

8. Outline Business Operations

Now, it’s time to outline the processes and procedures involved in your day-to-day business operations. Detail how you will eventually plan to manage your business effectively.

Staffing & training

Highlight your staffing needs by mentioning the number of employees, planners, or coordinators. Also, include their qualifications, the training required, and the duties they will perform.

Operational process

Outline the processes and procedures you will use to run your event planning business. It may include initial client meetings, decor, party favors, caterer coordination, set up/clean up, etc.

Equipment and machinery

You can also include the list of equipment and machinery required for event planning, such as office supplies, camera & photography equipment, event planning software, etc.

Explain how these technologies will help you maintain quality standards and improve the efficiency of your business operations. Refer to the below example written using Upmetrics AI assistant:

9. Prepare a Financial Plan

For a successful event planning business, you need to prepare a well-structured and in-depth financial plan with a realistic financial projection. It comes last in the business plan but is the most important section for investors.

So, mention all the below key components in your financial plan:

  • Profit and loss statement
  • Sales forecast
  • Cash flow statement
  • Balance sheet
  • Break-even analysis
  • Financial needs
  • Tax considerations

From the above, you can identify the funding needs and evaluate the funding resources for your event planning company, including bank loans, SBA-guaranteed loans, angel investors, and personal savings.

In this section, you need to make a few assumptions. It will greatly affect the financial forecasts of your business. Refer below table to make important assumptions:

financial forecasts example of event business

Well, having a realistic financial plan in your hand not only helps you present your business’s fiscal health but also emphasizes its sustainability.

However, calculating all the financial statements from scratch can be an overwhelming task. But, not to worry; use Upmetrics’ financial forecasting tool to formulate all your financial projections.

All you need to do is provide the information you have, and let the tool estimate financial factors, and create visual reports for you. No manual data entry, recalling Excel formulas, or preparing graphs—nothing.

Here’s an example of a projected cash flow statement for an event planning business:

projected cash flow statement for event planning business

Download Free Event Planning Business Plan Template

Need help writing your event planning business plan from scratch? Well, here you go; download our free event planning business plan template now and start writing.

This modern, user-friendly event management business plan template is specifically designed for your event business.

With a step-by-step guide and example, it assists you in creating your own plan without missing any crucial details.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

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Prepare Your Business Plan with Upmetrics AI

Finally! You know how to write an event planning business plan with the help of our free sample business plan template. So, you are one step closer to starting or growing your business confidently- pretty exciting, right?

But you know what else is exciting? Your business planning process can be even faster and easier than this. Yes, you heard it right; it’s possible with the power of the Upmetrics AI assistant tool .

So, take a sigh of relief and focus only on planning the most happening events in the town!

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Frequently asked questions, what are the key components of an event planning business plan.

Writing a professional event planning business plan involves the following key components:

  • Executive summary
  • Company overview
  • Industry and market analysis
  • Product and service offerings
  • Sales and marketing plan
  • Management team
  • Business operations
  • Financial plan

How often should I update my Event Planning Business Plan?

Your event planning business plan should be reviewed and updated at least once in a year or more often if there are significant changes in your business environment or services.

What are some tips for writing an Event Planning Business Plan?

Consider the following factors before writing an Event Planning Business Plan:

  • Define your niche and business objectives
  • Clearly mention unique selling points
  • Be realistic in the financial statement
  • Understand your target customer
  • Stay agile in a dynamic industry

How much does it cost to start an event planning business?

A fair estimation for an event planning business can range from a few thousand to tens of thousands of dollars. It can vary widely depending on office space, equipment, and initial inventory.

About the Author

business plan for events management company

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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Event Planning Business Plan Template

Written by Dave Lavinsky

Growthink.com Event Planning Business Plan

Event Planning Business Plan

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their event planning businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an event planning business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Event Planning Business Plan?

A business plan provides a snapshot of your own event planning business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes research to support your plans.

Why You Need a Business Plan for Your Event Planning Company

If you’re looking to start an event planner business or grow your existing one you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your event planning business to improve your chances of success. Your event planning business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Event Planning Businesses

With regards to funding, the main sources of secure funding for an event planning business are bank loans, personal funding, credit cards, and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Another common form of secure funding for an event planning business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan. Venture capitalists will not fund an event planning business.

Finish Your Business Plan Today!

How to write a business plan for event planning.

When you write a business plan, you should include the following 10 key aspects:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each important component of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the event planning business industry. Discuss the type of business you are operating. Detail your direct competitors. Give an overview of your target audience. Provide a snapshot of your marketing strategy and plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of business you are operating.

For example, you might operate one of the following types:

  • Corporate Events : this type of event planning business caters to businesses, charities, nonprofit organizations, and the like to plan fundraisers, receptions, conventions, trade shows, competitions, award ceremonies, product launches, and other types of meetings.
  • Social Events : this type of event planning business targets middle- to upper-income individuals and families to plan events such as weddings, birthdays, reunions, and other types of celebrations.
  • Niche Events : some event planners specialize in just one of the above event types.

In addition to explaining the type of event planning business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new contracts, etc.
  • Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your business structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the event planning business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the industry educates you. It helps you understand the target market in which you are operating. 

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards events that adhere to social distancing guidelines, it would be helpful to ensure your plan details what approach you would take (suggested venues, creative solutions for inclusion, etc.).

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

  • How big is the event planning industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the clientele you serve and/or expect to serve.

The following are examples of customer segments: private and corporate clients, high-income households, medium-income households, engaged couples, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of event planning company you operate and the event services you offer. Clearly, businesses would want a different atmosphere, pricing, and product options, and would respond to different marketing promotions than engaged couples.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the age groups, genders, locations, and income levels of the customers you seek to serve. Because most event planning companies primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target market. The more you can understand and define these needs, the better you will do to attract customers and retain your existing customers.

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other planners and businesses that offer event planning services.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes caterers, venues, and customers planning events on their own. You need to mention such competition to show you understand that not everyone who throws a party hires an event planner each time.

With regards to direct competition, you want to detail the other businesses with which you compete. Most likely, your direct competitors will be other businesses that offer event planning services very close to your site.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of customers do they serve?
  • What planning services do they offer (wedding planning, baby showers, birthday parties, social events, etc.)?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. 

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide superior event management options (e.g., more cuisine types, better venue options, etc.)?
  • Will you provide event options that your competitors don’t offer?
  • Will you make it easier or faster for customers to book your services (e.g., utilizing event planning software, etc.)?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an event management business plan, your marketing strategy should include the following:

In the product section, you should reiterate the type of business that you documented in your Company Analysis. Then, detail the specific products/services you will be offering. For example, in addition to designing the event, locating the venue, arranging vendors, coordinating personnel, and supervising the event, will you offer services such as catering, decor, and entertainment?

In this section, document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections, you are presenting the services you offer and their prices.

Place refers to the location of your event management business, conference centers, and/or venues in which you own and/or have a relationship. Document your location and mention how the location will impact your success.

The final part of your event planning business marketing plan is the promotions section. Here you will document how you will drive customers to your site. The following are some promotional methods you might consider:

  • Social media marketing
  • Advertising in local papers and magazines
  • Reaching out to local bloggers and websites 
  • Partnerships with local organizations (e.g., getting on the list of recommended vendors with local venues)
  • Local radio advertising
  • Banner ads at local venues

Operations Plan

While the earlier sections of your event planner business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your event planning business such as interviewing clients, making arrangements, keeping the store/studio clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th customer, or when you hope to reach $X in total sales. It could also be when you expect to hire your Xth employee or launch in a new market.

Management Team

To demonstrate your own event planning business’ ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally, you and/or your team members have direct experience as event planners or in the industry. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in event planning and/or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you plan one event per week or several events? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 event contract, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During those 180 days, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key startup costs needed in starting or growing your business:

  • Location build-out including design fees, construction, etc.
  • The total cost of equipment and furnishings like decor, sound systems, etc.
  • Cost of maintaining an adequate amount of supplies
  • Payroll or salaries paid to staff
  • Business insurance
  • Taxes and permits
  • Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

  Event Planning Summary Putting together your own event planner business plan is a worthwhile endeavor. If you follow the event planning sample template above, by the time you are done, you will truly be an expert. You will really understand the business, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful event planning business.

Event Planning Business Plan FAQs

What is the easiest way to complete my event planning business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Event Planning Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of event planning businesses.

  OR, Let Us Develop Your Plan For You Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how Growthink’s business plan consulting services can create your business plan for you.   Other Helpful Business Plan Articles & Templates

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How To Write a Successful Event Planning Business Plan + Template

Business Plan-LB

Creating a business plan is essential for any business, but it can be especially helpful for event planning businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every event planning business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is an Event Planning Business Plan?

An event planning business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write an Event Planning Business Plan?

An event planning business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Event Planning Business Plan

The following are the key components of a successful event planning business plan:

Executive Summary

The executive summary of an event planning business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

  • Start with a one-line description of your event planning company
  • Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your event planning business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your event planning firm, mention this.

You will also include information about your chosen event planning business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of an event planning business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

  • What part of the event planning industry are you targeting?
  • How big is the market?
  • What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the customers of an event planning business may include:

  • Wedding planners needing help with transportation logistics
  • Conference organizers wanting assistance with on-site registration
  • Caterers in need of assistance to manage the timing of service delivery

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or event planning services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your event planning business may have:

  • You are the only event planner in your city with an events app that allows customers to book and manage their event logistics in one place.
  • You have a team of experienced event planners who specialize in military funerals, which is a niche market.
  • Your company is the go-to choice for conference organizers looking for assistance with on-site registration and event management.

This is not an exhaustive list, but it gives you an idea of the types of competitive advantages you may have.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

  • Product/Service : Detail your product/service offerings here. Document their features and benefits.
  • Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
  • Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
  • Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your event planning business via a combination of these channels.

Operations Plan

This part of your event planning business plan should include the following information:

  • How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
  • What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for an event planning business include reaching $X in sales. Other examples include launching a new product/service, expanding to a new market, or hiring key personnel.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific event planning industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

  • Revenue : how much revenue you generate.
  • Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
  • Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Event Planning Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

  • Assets : All of the things you own (including cash).
  • Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
  • Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Event Planning Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

  • Cash Flow From Operations
  • Cash Flow From Investments
  • Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup event planning business.

Sample Cash Flow Statement for a Startup Event Planning Business

You will also want to include an appendix section which will include:

  • Your complete financial projections
  • A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
  • Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your event planning company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is an essential tool for any event planning company. If you are seeking funding from investors or lenders, it’s important to have a polished and professional business plan. Use the outline above as a guide as you write your own event planning business plan.   

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How to Start an Event Planning Business: The Ultimate Guide

Event Planning Business

It's no surprise that starting an event planning business involves many moving parts. It can feel overwhelming, from identifying your unique selling proposition and having all the key skills to executing flawless events to getting all the required compliances. But not anymore. 

In this guide, we'll discuss everything about  event planning  and provide a step-by-step guide on how to start your own event-planning business. This post covers everything from determining profitability to understanding the skills you need to run a successful business.   

But before you dive headfirst into how to start an event planning business, let's take a step back and understand the basics. 

Event Planning Business

What is Event Planning in Business?

If you plan to start your event planning business, you probably know the answer to this question. Event planning involves managing the details of large or small events, including meetings, conferences, or parties. This business is typically utilized for: 

  • Large educational meetings, such as graduations or conferences.
  • Major promotions, including marketing events, product launches, and fashion shows.
  • Corporate events , like after-work cocktail hours, trade shows, galas, and more.
  • Celebrations and social events like parades, weddings, birthdays, reunions, and more. 

What Do Event Planning Businesses Provide?

As an event planner, you are expected to work with clients to understand their requirements and goals and then provide end-to-end event planning and execution services to ensure the seamless and successful execution of in-person or virtual events . 

Some of the services you must include are:

  • Event management and coordination
  • Theming, décor, and styling
  • Conferencing and exhibitions
  • Signage and branding
  • Entertainment and talent management
  • Venue sourcing and management
  • Catering and food & beverage management
  • Audio-visual production and management
  • Logistics and transportation management
  • Budgeting and financial management
  • Marketing and promotion
  • Security and risk management
  • Registration and guest management
  • Post-event evaluation and reporting 

Why Do People Hire Event Planning Businesses?

There are two primary reasons why people hire event planning services: 

  • To allow event attendees and guests of honor to thoroughly enjoy themselves without worrying about event logistics. 
  • To ensure that the event runs without any glitches. 

Consider a typical corporate conference, for example. 

A business may hire your services to create a stellar multi-day conference while their employees and attendees can focus on networking or learning. This way, they don’t have to worry about details like catering, keynote speakers, registration, and managing the event schedule. 

Event Planning Business advantages

Advantages and Disadvantages of Starting an Event Planning Business

As with everything, the event planning business also has advantages and disadvantages. Some of them are: 

  • Enjoy the freedom to choose who you work with, where you work, and how you manage your schedule.
  • Pull off a showstopping event, and chances are your clients will return repeatedly, thus building loyalty.
  • Event planning business lets you unleash your creativity as you get to design events that are unique and unforgettable for your clients. 
  • Establishing relationships with reliable vendors takes time, especially in a crowded market.
  • Growing your business needs adding resources or raising prices, which can be tricky.
  • Most of the time, although the planning takes place in advance, you must ensure your presence in the field during the event—meaning long working hours, even on evenings and weekends. 

How to Start an Event Planning Business

Here are some steps to help you start an event planning business: 

Evaluate your  event planning skills.

Event planning involves many tasks beyond the glamor of parties and events. To be successful, you must be able to handle various responsibilities. After all, successful event planners are masters of multitasking, with a talent for keeping calm under pressure. 

For example, you’ll need to create an event theme or design, find a venue, arrange entertainment, book vendors, send RSVPs and marketing information to attendees, and balance the budget. The list goes on. 

If you're unsure whether you possess all the necessary skills, consider gaining some hands-on experience. Perhaps shadow an experienced planner, assist with events at a local organization, or even volunteer for a nonprofit event. 

Create your event planning business plan.

A well-structured business plan is the foundation of any successful venture, and event planning is no different. Consider it your roadmap to success. Here are the key sections to include: 

  • Executive Summary:  Summarize your business concept, goals, and what sets you apart.
  • Overview : Outline your company background, structure (e.g., sole proprietorship), and essential details.
  • Industry Analysis : Demonstrate your understanding of the local event planning market, including potential clients and event trends .
  • Competitive Analysis: Examine your competition, identifying their areas of strength and areas you can exploit.
  • Marketing : Craft a strategy for attracting clients—how will you make them aware of your exceptional services?
  • Management: Detail your unique experience and skills.
  • Operations Plan : Describe your day-to-day process for planning and executing events.
  • Financials : Project your income, expenses, and profit expectations over your initial years of operation. 

Event planning niche

Find your event planning niche.

Finding your niche is how you stand out from the rest—it helps you specialize in a specific subset of the broader event planning industry. Also, it becomes easier for your target market to find you. Common niches and event types include: 

  • Business event planning:  Award ceremonies, charity and nonprofit events, corporate bonding retreats, meetings and seminars, conferences, grand openings, fashion shows, experiential events, holiday parties, networking events , trade shows, and VIP events. 
  • Private/social event planning:  Weddings,   anniversaries, holiday parties, baby showers, theme parties, wedding/bridal showers, bachelor/bachelorette parties, milestone birthday parties, and murder-mystery parties. 

Identify your unique selling proposition.

Identify your event planning business’ unique selling proposition (USP) to set yourself apart from your competitors. It is the reason why clients should choose your company over others. 

Here’s how you can define your USP: 

  • Identify your target market:  The first step in uncovering your event planning USP is to identify your target market. Who are your ideal clients? What type of events do they typically host? What are their pain points and needs? Understanding your target market lets you tailor your services to your client's needs and preferences. 
  • Analyze your competition:  The next step is to analyze your competition. Who are your competitors? What services do they offer? What is their pricing strategy? What are their strengths and weaknesses? Understand your competition to identify gaps in the market and ways to differentiate your business. 
  • Determine your unique strengths:  What sets your business apart from your competitors? What unique strengths do you bring to the table? It could be your expertise in a particular type of event, your creative approach to event design, your extensive network of vendors, or your exceptional customer service. Identify your unique strengths and use them to craft a compelling USP.

Consider funding and costs.

The events business can be lucrative, but getting started requires smart financial planning. Calculate your initial startup costs carefully. Price your services strategically so you cover expenses while remaining competitive. If number crunching isn't your strong suit, invest in a bookkeeper or accountant early on.

While exact costs vary by location and services offered, here's a ballpark range to get you thinking:

  • Rent: $0 to $2,300
  • Equipment: $5,000 to $17,000
  • Inventory: $0 to $500
  • Licenses and Taxes: $250 to $350
  • Communications: $100 to $250
  • Payroll: $0 to $4,000
  • Advertising/Promotion: $500 to $2,000
  • Legal Fees & Accounting: $650 to $1,500
  • Insurance (1st Quarter): $800 to $1,700
  • Miscellaneous: $750 to $1,500
  • Total: $8,050 to $31,100 

Remember, startup expenses don't have to be astronomical. Begin with the essentials, and scale up as your business grows.

Structure your pricing strategy.

Pricing your services is an art and a science. Factor in your location (cost of living varies), your experience level, and what your competitors charge. Most importantly, ensure your pricing allows you to cover costs and earn a worthwhile profit while remaining attractive to clients. 

Remember, transparency is key—explain your fee structure clearly so there are no surprises later on.

Here are some common pricing models for your consideration: 

  • Hourly rate: Ideal for projects where the scope is difficult to predict upfront. Rates typically range from $25 - $100+ per hour, depending on your skills and the complexity of the event. 
  • Flat fee:  A single charge covers your planning services. This works well for events with well-defined parameters. Sometimes, planners add a percentage of vendor fees to ensure sufficient compensation. 
  • Percentage of the event:  Typically, this will be 15-20% of the total event cost. Such pricing structure is common for complex events, as your fee scales alongside the project.  
  • Day-of coordination:  A specialized service, handling the on-site logistics on the day of the event itself. 
  • Vendor commission:  In this model, your income comes from commissions from selected vendors, rather than directly from the client. This requires careful negotiation and transparency with all parties involved. 

Obtain necessary legal documents and permits.

Don't neglect the legal side of your business. Taking these steps protects both you and your clients from potential issues:

Register Your Business :   Choose a legal structure (LLC, Sole Proprietorship, etc.) that's right for you, and register officially with your state. Obtain a tax ID—essential for everything from opening a bank account to filing taxes. 

Obtain Necessary Permits : The red tape of event planning might not be glamorous, but it's crucial. Permits vary by location, so contact local authorities to learn exactly what you need. Common examples include: 

  • Building permits (tents) for outdoor events that require tents.
  • Business license to operate legally.
  • Event permits vary by city, so contact the local government for relevant ordinances.
  • Noise permit if your event is outside.
  • Fire/fireworks permit, which you must check with your county.
  • You can get a health permit from your county’s health department.
  • You need a liquor license if you plan to serve alcoholic beverages. 
  • Seller’s permit, which you may need as an event planner.
  • Temporary use/structure permit for vacant land or temporary space for loading areas, vendors, and parking. 

Get your event planning business insured.

Obtain insurance coverage for your event planning business to protect yourself and your clients from unexpected incidents. Here are some important coverages to consider:

  • Workers' compensation:  This is mandatory in all states. It protects your employees (and yourself, if you count as an employee) in case of work-related illness or injury.
  • General liability insurance:  A must-have for any event planning business. This protects you from claims of property damage or bodily injury at an event you organized. 
  • Property insurance:  Safeguard your equipment (tables, chairs, laptops, etc.) from theft, fire, and other unexpected events.
  • Business interruption:  If unforeseen circumstances force you to temporarily shut down, this can provide financial support. Think of it as backup income if things go awry.
  • Business Owner's Policy:  This bundles several important coverages into one convenient package, often at a good value. 

Market your event planning business.

Once your business is set up, it's time to attract those exciting new clients. Here are some strategies to get you started:

  • Build a Website: Your website is your online storefront. Services like Weebly and Squarespace make it easy, even if you're not tech-savvy. Invest time in making it visually appealing and easy to navigate.
  • Boost Your Online Presence: List your business on directories like Yelp, Eventective, and Google My Business. This helps potential clients discover you when they're searching for event planners in your area.
  • Get Social: Create engaging profiles on relevant platforms (Instagram, Pinterest, Facebook, etc.). Share social media-worthy photos, behind-the-scenes glimpses, and client testimonials.
  • Traditional Marketing Still Works: Don't underestimate the power of beautifully designed brochures, flyers, and business cards. Distribute them strategically at local businesses or events.
  • Get Referrals: Happy clients are your best advertisement. Encourage them to leave glowing reviews, and feature video testimonials on your website and social media.
  • Strategic Partnerships: Caterers, photographers, venue owners—these businesses have the same clientele as you. Build relationships and create a referral network to mutually benefit. 

Related: Read some practical  event planning tips  for before, during, and after the event. 

Event planning questions

What skills do you need to run an event planning business?

The basic skills needed to run an event planning business effectively are primarily soft skills, such as organizational skills, business management skills, and presentation skills. Here are some necessary skills to run an event planning business successfully: 

  • Attention to detail
  • Customer service
  • Education (staying updated on event trends) or experience
  • Interpersonal relationship skills
  • Negotiation
  • Organization
  • Under-pressure performance 

Is an event planning business profitable?

Event planning has the potential to be a very profitable business venture. The fact that  89% of event and meeting leaders  consider in-person events crucial for revenue growth demonstrates the ongoing demand for well-planned events. 

However, the profitability of your event planning business will depend on several factors. The key to success lies in your ability to command premium rates for your services while keeping your expenses in check.            

What does an event planning business do?

An event planning business organizes and coordinates various aspects of events for individuals or organizations. This includes selecting venues, arranging catering and other vendors, creating event schedules and itineraries , managing budgets, and ensuring all necessary equipment and supplies are available. 

Do event planners travel a lot?

Event planners may travel depending on the nature of the events they plan. Some events may occur locally, while others may require travel to different cities or countries. Ultimately, the amount of travel required will depend on each event's specific needs and requirements. 

The Future of Event Planning is Yours to Create

The event planning industry offers vast opportunities for those with an eye for detail, a flair for organization, and a knack for staying on budget. Whether your heart lies in orchestrating sleek corporate events or bringing dream weddings to life, the skills you hone as an event planner are valuable in countless contexts. 

A carefully crafted business plan, paired with smart marketing and a dedication to providing exceptional experiences, can turn your passion into a truly successful venture. Find your niche, or cast a wide net—the choice is yours.

If you're ready to take the leap into the world of event planning, don't hesitate. Use this guide as your springboard. With hard work, a little business savvy, and a genuine love for creating memorable moments, there's no limit to what you can achieve.  

Up next, learn some  best practices in event management to create scalable and successful event strategies for your business.

John Hunter

John Hunter

John is the Senior Manager of Event Cloud Content Marketing at Cvent. He has 11 years of experience writing about the meetings and events industry. John also has extensive copywriting experience across diverse industries, including broadcast television, retail advertising, associations, higher education, and corporate PR.

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How to start an event planning business

If you’re looking to snag one of the 116,700+ (on average) jobs available to meeting, convention, and event managers out there, here’s what you’ll need to get started.

Step 1: Determine if it’s a good fit.

Like most jobs, your skill set and personality will largely determine your success in this field. And while you don’t need to check off all the qualities on this list, here are some things to consider before you start an event management business :

  • You can keep the big picture in mind while still taking care of all the little details.
  • Whether it’s Sunday brunch or the company holiday party, you’re everyone’s go-to person for all group events.
  • Working within a budget and strict timeline makes you feel creatively stimulated, not stunted.

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Step 2: Research certifications.

The Bureau of Labor Statistics notes that demand for event managers will grow an additional 11% by the time we reach 2026. With such a positive industry outlook, it’s good to find new ways to stand out amongst the competition as new event planners enter the market in coming years.

Certifications are fantastic ways to add credibility to your business , regardless of your experience level. Besides proving you’re dedicated to further your education in the field, these credentials show that respected institutions can vouch for your abilities (and your business).

Some of the top certifications event managers pursue include:

  • Certified Special Events Professional
  • Certified Event Planning Specialist
  • Certified Quality Event Planner

There are lots more options to choose from, but these serve as a great jumping off point. However, if you aren’t able to acquire one right now, you can still get your business off the ground without it.

It’s worth noting that beyond certifications, there are no strict college degree requirements (although it seems most event planners do have some sort of bachelor’s education under their belts when starting out).  

Step 3: Fill out an event management business plan.

Any cursory Google search for the phrase event management business plan will inevitably lead you to some free wedding and event planning business plan templates .

However, you’ll find that the one we’ve created (below) provides a not too much, not too little approach you won’t find in any other guides.

Each point has been carefully selected so that you can create the event management business plan of your dreams without getting overwhelmed or missing out on details you definitely need to include. As long as you check off the items we listed, you’ll have a solid business plan ready to go in no time.

Step 4: Handle all the necessary paperwork.

To start an event management business, you’ll need each of the following:

  • An event management business plan (use the free template we made below)
  • Approval for a tax business structure that suits your financial needs
  • General business liability insurance

These documents cover all the basics. But as you gain more experience, you might want to add on things like home-based insurance or upgrade to a new tax entity once you enter into the appropriate bracket.

We won’t get into these more advanced concepts for this beginner guide, but make sure to revisit these categories before you’re officially open for business.

Step 5: Figure out finances.

To be clear, you definitely can start an event management business with no money ! However, whether your funding is from your own bank account or someone else’s, small businesses in the events industry should consider starting out with these budget line items:

  • Office space and essentials. You can use the computer, printer, and supplies you already have, assuming you do have (or can at least borrow) those things now. But keep in mind: if you’d like to write off your in-home office space on your federal taxes, your room must be secluded and have its own door.
  • Advertising. At the very least make sure you have a small batch of business cards and a portfolio website ready to go. If you have some cash to spare, consider getting into paid social media ads or printed marketing materials like mailers.
  • Software. The good news is there are plenty of great free event management software programs available these days, so you might not even have to budget for this one!

And that’s basically it! Depending on your niche or preferences, it would be good to also use this startup costs guide created by the Small Business Association to see if there’s anything else specific to you that might be missing.

Step 6: Choose a team.

Vendors, chefs, marketing agencies, software providers, event staff, and personal or office assistants all make wonderful additions to your event management business.

You can start out on your own (which, according to small business statistics , most people do) or you can go through the process of finding, interviewing, and hiring employees.

Depending on the amount of new business you plan to take on, you may or may not need to ever hire someone to help you part-time. At the very least though, you should start compiling a list of people who fit into this network so you can collaborate, get referrals, and perhaps even sub-contract them in the future.

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What is your vision for an event planning business?

Once you’ve completed all of these steps, it’s time to review the big picture. As you figure out your plan, budget, and staffing options, your idea of what you want for your business might change. And that’s totally okay!

Learning how to be flexible is a skill all small business owners must learn. Just make sure you adjust now so you can carry your vision with you for future decision making.

Event planning journal

How to write a personal event planning business plan

1. create an executive summary.

  • Objectives. Write down your realistic and measurable business goals .
  • Mission. Check out these inspiring company mission statements for ideas.
  • Keys to Success. Also known as why you think your business will succeed and how you will make sure it does.

2. Make a company summary

  • Company Ownership. If it’s just you, consider doing a sole proprietorship .
  • Start-up Summary . Think of it like a company overview . Include your business’s back story, location, and anything else you’d basically put on your website’s About section.
  • Company Locations and Facilities. Include the address you’ll put on your taxes and any long term rentals like kitchen prep spaces or coworking offices.

3. Identify your products and services

  • Services. Event management services can really vary so use this section to outline what you do and what you don’t do.
  • Prices. The average yearly event planner’s salary comes out to about $50,000 so plan accordingly.
  • Competitive Comparison. Who are your immediate competitors? What do they have that you don’t? Record this research and look for imaginative ways to stand out. Be very honest with your assessment of how your business stacks up against them and what you should do to improve your chances of success.

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4. create a marketing analysis summary.

  • Marketing Segmentation. Targeting means finding what area, demographic, or behavioral patterns your high ROI prospects all have in common, just like you’d do for any customer-focused corporate event.
  • Target Market Segmentation Strategy. Now that you know who you audience it is, it’s time to research and define all the ways you plan to gain their business.

5. Do a strategy and implementation summary

  • Sales Strategy. Here are the two best advanced event business pricing strategies to choose from.
  • Sales Forecast. It’s a bit complicated, but figuring out how much money you think your business will make over the next six months to a year (or more) makes studying a sales forecasting guide well worth the effort.
  • Milestones . Whether your goal is the total number of sales or income from sales (or something else entirely), you’ll want to formally establish what milestones you’d like to hit by when. Just leave wiggle room for the unexpected and adjust expectations as you go.

6. Write a management summary

  • Organizational Structure. For event management teams, clearly defined roles are more important for teamwork than pretty much anything else.
  • Personnel Plan. Here are some things to know about hiring staff for an event specifically that will also apply to your company as a whole.

7. Create your financial plan

  • Important Assumptions. Business plan assumptions can be fairly complex. For now, just focus on listing your anticipated fixed and variable event planning expenses , marketing costs, and what taxes you’ll have to pay on your earned income.
  • Break-Even Analysis . How much did you invest? And how much will you need to earn (after taxes, equipment costs, etc. are subtracted) in order to equal your initial investment? Keep this number handy – it’ll help you decide whether or not to take on more projects, motivate you to upsell whenever possible, and give you a realistic for success.
  • Projected Profit and Loss. The IRS might want to see your profit and loss statements at some point, so make a point to regularly record your expenses and sales in one organized document.
  • Projected Cash Flow. This free (and very helpful) small business book says to calculate it one month at a time for more accurate figures.
  • Projected Balance Sheet. If you’ll be acting as your own bookkeeper, check out this balance sheet template to speed up the process.
  • Business Ratios. Even if you’re not a math person, you can definitely handle this last (but very important) event management business plan step. There are lots of business ratios to choose from, but if you want the quickstart version go with these 3 most important balance sheet ratios for professional services firms .

business plan for events management company

Now you know how to start an event management business!

How do you become an event planner? You plan. Plan your business, plan your client’s events, and plan for a successful future.

There are lots of details involved but if you follow the ideas laid out in this guide, you’ll have yourself a healthy event management business plan along with some great strategies for reaching your goals!

19 Trends Shacking Up Events in 2019

For more on starting your own company , check out these tips for financing your event business , current event statistics worth considering, and event trends you should know for 2019.

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Top 10 Event Management Business Plan Templates with Examples and Samples (Editable Word Doc, Excel and PDF Included)

Top 10 Event Management Business Plan Templates with Examples and Samples (Editable Word Doc, Excel and PDF Included)

Gunjan Gupta

author-user

Imagine, for a moment, the glitz and glamour of the 2008 Beijing Olympics opening ceremony. It was a stunning display of culture and technology that captured the world's attention. But what most of us didn't see was the extensive planning and coordination that went into creating this global spectacle. Behind the scenes, a team of dedicated event management professionals meticulously crafted every moment, ensuring that every detail, from the grandest fireworks display to the tiniest costume accessory, was executed flawlessly.

The 2008 Beijing Olympics opening ceremony is a shining example of what the world of event management is all about. It's an industry where dreams become reality, creativity meets precision, and the magic of any event, big or small, takes center stage. If you've ever dreamed of turning your passion for planning and organizing into a thriving business, you're in the right place.

We have created the ultimate Event Management Business Plan Template with 64 meticulously designed slides for you. This template is your roadmap to turning your event management dreams into a flourishing business reality. It includes everything you need to develop a solid business plan template , from market analysis and financial projections to marketing strategies and operational plans.

Let's roll up our sleeves and embark on this exciting journey to create memorable experiences and make your mark in the world of events!

Table of Contents

  • Executive Summary
  • Company Overview
  • Industry Analysis
  • Customer Analysis
  • Competitive Landscape
  • SWOT Analysis
  • Operational Plan
  • Financial Plan
  • Management Summary

1. Executive Summary

The executive summary gives a concise yet engaging overview of your event planning business plan. It provides a snapshot of the crucial components of your plan and should be written last, summarizing key elements such as:

1.1 The Quick Pitch: It includes factors like:  

  • Market Overview: This section provides statistical insights into the event planning market, highlighting its size, trends, and potential.
  • Opportunity: Detail the opportunities in the event planning industry, such as emerging technologies, the rise of virtual events, and integration possibilities.
  • Technology Integration: Discuss how technology plays a pivotal role in your business, covering aspects like event management software and digital tools.
  • Virtual Events: Explain your strategy for catering to the virtual event trend, outlining the benefits and services you offer in this domain.

1.2 The Entity: Include essential information about your business entity, such as its name, date of incorporation, initial investment, physical location, web address, target market, and founder's name.

Here is a visual representing all this and more:

The Quick Pitch

Download this

(Want to make your dream event a reality? Access this Event Management Business Plan Template to get started!)

2. Company Overview

Describe your event planning business's specific niche, whether it caters to corporate events, social gatherings or specializes in unique niche events. Clearly outline your target clientele for each category. Also, share the history of your business, explaining when and why it was established, as well as key milestones achieved.

Additionally, ensure your company overview has the following elements:

2.1 Mission and Vision: Outline your long-term objectives and core values that guide your operations.

2.2 Goals and Objectives: Elaborate on your business goals, both short-term and long-term, and present your strategies for achieving them. Clearly define measurable milestones.

2.3 Start-up Summary: Provide a comprehensive summary of the initial costs required to launch your business, including capital investment, equipment purchases, and operational expenses.

2.4 Market Gap and Business Statement: Explain how your business identifies and addresses gaps in the market, emphasizing your unique value proposition. Define your business's core purpose.

2.5 Products and Services Offered: List the range of event planning services and products you offer, including any additional services like catering, decor, entertainment, or technology integration.

2.6 Key Success Factors: Identify and elaborate on the critical factors contributing to your business's success, such as exceptional customer service, innovative offerings, strategic partnerships, and market knowledge.

Take a look at this graphic to know more:

Products and Services Offered

(Excited to kickstart your event planning journey but need a one-pager ? Download our comprehensive business plan template now!)

3. Industry Analysis

The industry analysis section provides a comprehensive overview of the event planning industry, emphasizing the importance of market research.

Key components to include are:

3.1 Market Analysis: Present an in-depth analysis of the event planning market, covering its size, projected growth, and potential opportunities and challenges.

3.2 Market Trends: Discuss current event industry trends, including the prevalence of hybrid events, safety measures, sustainability practices, personalization, etc.

3.3 Major Challenges: Identify and analyze the significant challenges your business encounters, such as rising operational costs, stiff competition, safety, etc.

3.4 Growth Drivers: Highlight the key factors driving growth in the industry, such as technological advancements, corporate event market size, and more.

3.5 Geographical Analysis: Conduct a geographical analysis to determine how local demographics impact your target market and explore opportunities for growth within specific regions.

Observe this sample to help present your event industry analysis like a pro: 

Personalization and Customization

4. Customer Analysis

Customer analysis is a crucial component of your business strategy, as it lays the foundation for understanding your audience and tailoring your offerings to meet their needs effectively.

In this section, we will delve into the key elements of customer analysis, including:

4.1 Target Market

Represent the specific group of individuals or entities you want to serve and consider factors like age, gender, location, income level, and any other relevant demographic data.

4.2 Buyer Persona

These personas are fictional depictions of your ideal customers with names, photos, motivations, and pain points. They humanize your target audience and enable you to personalize your marketing strategies. Thus, create detailed buyer personas for each customer segment for effective marketing.

4.3 Market Sizing

Estimate the size of your target market for business planning and growth. This involves analyzing national market data and local population figures to determine the potential reach of your business.

Get a visual grasp of this concept with the following representation:

Buyer Personas

5. Competitive Landscape

Delve deeper into your analysis of the competitive environment within the event planning industry. Identify and evaluate direct and indirect competitors to understand your competitive positioning comprehensively.

And don’t forget to include elements like:

5.1 Major Players

Recognize and analyze the major players who significantly impact the market. These prominent competitors often have well-established brands, extensive client networks, and a range of services.

5.2 Attribute-Based Comparison

Performing an attribute-based comparison between your event planning business and direct competitors is essential. This involves a detailed assessment of specific attributes, such as:

  • Pricing: Analyze how your pricing strategy compares to that of your competitors. Are you offering competitive rates or premium services?
  • Service Offerings: Compare the range of services you provide with those of your competitors. Highlight any unique or specialized services that set you apart.
  • Customer Satisfaction: Collect feedback from past clients and compare your customer satisfaction ratings with those of competitors.
  • Innovation: Assess your ability to adapt to industry trends and technological advancements compared to your competitors.

Take a visual look at the concept here, but before that, also look at Must-have Event Management Company Profile Templates .

Competitive Landscape

6. SWOT Analysis

The SWOT Analysis is a pivotal component of your business plan, offering a comprehensive examination of your event planning company's internal strengths and weaknesses and external opportunities and threats.

So, make sure you journal it properly, as done in this visual sample by SlideTeam:

SWOT Analysis

7. Marketing Plan

The Marketing Plan section is pivotal for promoting your event management business and reaching your target audience with ease. It also helps grow your business by combining the traditional four Ps: Product, Promotion, Price, and Place.

Additionally, it includes factors like:

7.1 Social Media Implementation Strategy and Promotional Strategies

Detail your social media implementation strategy, outlining how to leverage platforms like Facebook, Instagram, and Twitter to engage with potential clients.

Additionally, describe your promotional strategies, including:

  • Sponsored posts and advertisements.
  • Collaborations with influencers in the event industry.
  • Engaging content creation to showcase your expertise.
  • Running targeted online campaigns to reach your desired audience.

7.2 Pricing Strategy

Elaborate on your pricing strategy, which should align with your target market and competitive positioning. Explain how your pricing compares to competitors, emphasizing unique value propositions or pricing structures.

7.3 Sales Funnel

Outline your sales funnel, illustrating your potential client's journey from initial awareness to purchase. Highlight key touchpoints, lead generation strategies, and conversion tactics.

The following image portrays this idea:

Sales Funnel

8. Operational Plan

Outline the processes and milestones to help you achieve your short and long-term business objectives. Also, provide a detailed roadmap for how your event planning business will operate with the following attributes:

8.1 Business Milestones

Define specific milestones you aim to achieve, such as reaching a certain number of clients, expanding to new markets, or launching new service offerings. Include target dates for these milestones.

8.2 Business Model Canvas

Present your business model canvas and its key components, including customer segments, channels, value propositions, customer relationships, cost structure, and more.

To help you visualize this concept, here's a sample:

Business Model Canvas

9. Financial Plan

The Financial Plan is a critical section that projects the financial performance of your event planning business over the next five years. It offers insights into the following: 

9.1 Financial Assumptions : Explicitly state the assumptions upon which your financial projections are based, such as growth rates, pricing strategies, and market trends.

9.2 Revenue Model and Sales Forecast : Detail your revenue model, including how you generate income, such as event planning fees, commissions, or additional services. Provide a sales forecast that outlines your expected revenue over the projection period.

9.3 Break-even Analysis : Demarcate the point at which your revenue equals your expenditure. This helps identify the minimum level of sales needed to cover costs.

9.4 Projected Profit & Loss Account : Present a projected profit and loss statement showcasing your expected revenue, expenses, and net income over the five years.

9.5 Projected Cash Flow Statement : Outline your projected cash flow statement, highlighting how cash moves in and out of your business. This helps ensure you have sufficient liquidity to cover expenses.

9.6 Projected Balance Sheet : Provide a projected balance sheet, offering a snapshot of your assets, liabilities, and equity at different points in time.

9.7 Scenario Analysis : Evaluate how changes in various factors, such as market conditions or pricing strategies, could impact your financial projections.

9.8 DCF Valuation Analysis : Consider performing a discounted cash flow (DCF) valuation analysis to estimate the present value of future cash flows, aiding in investment decision-making.

Looking for a better understanding of financials? Here is a slide visual to help you out: 

DCF Valuation

10. Management Summary

Highlight the strengths and expertise of your event planning business's key team members. This section plays a vital role in demonstrating your company's ability to succeed and grow. So, make sure it is well laid out with elements like:

10.1 Team Structure : Describe the organizational structure of your team, including key roles and responsibilities. Emphasize the skills and experience that make your team well-suited for the event planning industry.

10.2 Professional Summary : Provide professional summaries for each key team member, emphasizing their relevant experience, qualifications, and contributions to the business.

10.3 Roles and Responsibilities : Detail each team member's specific roles and responsibilities, illustrating how their expertise contributes to the success of your event planning business.

Here's a visual representation to clarify this:

Merchandising Coordinator

To Conclude

After an in-depth exploration of this Event Business Plan Template, you're well-equipped to embark on your event planning journey. It's time to download, bring your vision to life, and shine in the world of events.

Your adventure begins here. Let the magic of event management commence!

P.S. Don't forget to grab more design options with 80 slides for your next big event by clicking here !

FAQs on Event Management Business Plan

1. what is an event management business plan.

An event management business plan is a comprehensive document outlining the strategy and details for launching and running an event planning or management company. It typically includes key components such as the company's mission and vision, market analysis, target audience identification, services offered, marketing and sales strategies, financial projections, and operational plans. This plan serves as a roadmap for entrepreneurs and potential investors, guiding them in understanding the business's goals, competitive landscape, and potential challenges. A well-crafted event management business plan is essential for securing financing, attracting clients, and effectively managing the business for success in the event planning industry.

2. How do you write an event management business plan?

Follow these steps to write an event management business plan: 

  • Begin with an executive summary outlining your business concept and goals.
  • Describe your event management company, its mission, and vision.
  • Identify your target audience and competitors by conducting market research.
  • Define your services, including event planning, coordination, and any specialized offerings.
  • Create a marketing strategy to reach potential clients.
  • Develop a pricing structure and revenue projections.
  • Outline your team's qualifications and roles.
  • Detail your operational plan, including logistics and vendor relationships.
  • Address financial aspects like startup costs, funding sources, and financial projections.
  • Include a risk analysis and contingency plan.
  • Conclude with a concise summary of the plan's key points.

3. Is event management a profitable business?

Yes, event management can be a profitable business. It involves planning and executing various events, such as weddings, corporate gatherings, and conferences. With effective marketing, good client relationships, and exceptional organizational skills, event managers can generate substantial income. The profitability depends on factors like experience, reputation, and market demand, making it a potentially lucrative venture.

4. What are the 7 stages in an event management planning?

Event management planning typically involves the following seven stages:

  • Conceptualization: Define the event's purpose, objectives, and target audience.
  • Research and Planning: Gather information, set goals, and create a detailed plan, including budget and timeline.
  • Venue Selection: Choose a suitable location based on event requirements and logistics.
  • Supplier Coordination: Secure vendors for catering, decor, audiovisual, and other services.
  • Promotion and Marketing: Develop a marketing strategy to promote the event and reach the intended audience.
  • Execution: Manage logistics, coordinate activities, and ensure everything runs smoothly on the event day.
  • Post-Event Evaluation: Assess the event's success, gather feedback, and analyze the results for future improvements.

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Writing Event Planning Business Plan: Step-by-Step Guide

February 9, 2024

Event Resources , For Event Managers

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Who knows the importance of a well-laid plan better than event planners? We don’t have to tell you that you absolutely need to write an event planning business plan, but we’ll tell you how to do it. 

And don’t worry – an event planning business plan isn’t just for those who’re just starting their event planning business . It’s also for those who want to avoid business risks, explore better opportunities, and build trust with their clients on a deeper level. If some of these things describe your event planning business, let’s discover the essentials of your business plan and how to develop one yourself. 

Why Event Planning Business Plan Matters

A well-thought-out event planning business plan is crucial for several reasons, and it can empower entrepreneurs in the event planning industry such as yourself to achieve a variety of objectives. Here’s why it matters and what you as an event planning business owner will achieve with a solid business plan:

  • A business plan serves as a roadmap for your event planning business. It outlines your goals, strategies, and the steps you need to take to achieve success.
  • You’ll use the plan as a guiding document to stay focused on your objectives and navigate the complexities of the event planning industry.
  • Investors and lenders often require a detailed business plan before considering any financial support.
  • An event planning business plan showcases the viability and potential profitability of your business, attracting investors and securing funding.
  • The process of creating an event planning business plan encourages you to thoroughly analyze their market, competitors, and target audience.
  • Once you’ve gone through that process, you’ll make informed decisions based on this analysis, adapt strategies to changing market conditions, and maximize opportunities.
  • A well-crafted event planning business plan allows you to clearly articulate your unique selling propositions (USPs) and competitive advantages.
  • Use these differentiators to stand out in a crowded market, attract clients, and establish a strong brand presence.
  • Financial projections included in the business plan provide a clear picture of revenue, expenses, and potential profits.
  • Entrepreneurs can use this financial data to manage their resources effectively, make budgetary decisions, and ensure the financial health of their event planning business.
  • The marketing and sales strategies outlined in the business plan help your event planning business to define its target audience and communicate its brand message.
  • You’ll leverage the event planning business plan to implement effective marketing campaigns, build brand awareness, and attract clients.
  • The business plan includes a risk analysis, identifying potential challenges, and outlining mitigation strategies.
  • Instead of waiting, you can proactively address risks , enhancing the resilience of your event planning business and ensuring continuity in the face of unforeseen challenges.
  • Sharing a comprehensive business plan with potential clients demonstrates professionalism and transparency.
  • Entrepreneurs can use the plan to build trust with clients, assuring them of their capabilities and commitment to delivering successful events.

The Essential Elements of Successful Event Planning Business Plan

Before you get overwhelmed with all the different terms and instructions, let me assure you that writing an event planning business plan is easier than it seems. Let’s start with baby steps to go over the essential elements of a successful event planning business plan, and continue with learning how to write each of these sections for your business.

  • Executive Summary
  • Company Description
  • Services You Offer
  • Target Market
  • Event Planning Market Analysis
  • Marketing & Sales Strategy
  • Operational Plan
  • Team Structure
  • Financial Projections
  • SWOT Analysis
  • Legal Structure
  • Funding Request (if applicable)

How to Write an Event Planning Business Plan?

There are exactly 13 steps that separate you from your event management business plan. 

Each of these steps is a separate section in the plan, and we’ve got you covered with actionable tips and examples on how to write each one. We recommend you start taking notes and working on your event planning business plan along with reading further. 

1. Writing Executive Summary for Event Management Business Plan

Writing an effective executive summary for your event planning business plan is crucial, as it’s the first section potential investors or partners will read. But don’t get it twisted – the executive summary is actually the section you’ll finish at the end. The executive summary should provide a concise overview of your business and its key elements.

It’s basically a snapshot of your entire business plan, so make every word count.

Executive summary event management business plan illustration

Image by vectorjuice on Freepik

It should entice readers to explore the details while providing a clear understanding of the value your event planning business brings to the market.

And how do you write an executive summary for an event management business plan? We’ve prepared a step-by-step guide and an example!

Start with a strong opening

Begin with a compelling and concise introduction that grabs the reader’s attention. Clearly state the purpose of your business plan and briefly mention your mission or vision for the event planning business.

Provide a brief overview of your business

Offer a snapshot of your event planning business, including its name, location, and the types of events you specialize in. Highlight any unique aspects of your business that set you apart from competitors.

Articulate your unique selling proposition (USP)

Clearly define what makes your event planning business unique and why clients should choose your services. Emphasize any innovative approaches, special expertise, or exclusive services you offer.

Outline your key objectives

Concisely list the main objectives and goals of your event planning business. Keep these goals specific, measurable, and aligned with the overall vision of your business.

Describe your target market

Provide a brief overview of your target audience, including demographics and preferences. Highlight any niche markets or specific industries you plan to focus on.

Introduce your team

Briefly introduce key members of your event planning team, emphasizing their relevant skills and experience. Highlight any unique qualifications that make your team well-suited for event planning success.

Mention key achievements or milestones

If your event planning business has achieved notable milestones or garnered recognition, mention them briefly. This adds credibility and demonstrates your business’s track record.

Summarize your financial projections

Provide a high-level overview of your financial projections, including revenue expectations and growth forecasts. Highlight key financial metrics that showcase the profitability of your event planning business.

Include a call to action

End the executive summary with a call to action, indicating what you’re seeking from the reader (investment, partnership, etc.). Encourage further exploration of the full business plan.

Executive summary for event planning business plan example:

Executive Summary: XYZ Events

  • Introduction:

XYZ Events is a dynamic and innovative event planning company located in [City, State]. With a passion for creating unforgettable experiences, we specialize in crafting seamless and unique events that leave a lasting impression. Our mission is to exceed client expectations by delivering exceptional events that reflect their vision and style.

  • Key Business Information:

Founded in [Year], XYZ Events has quickly established itself as a leader in the event planning industry. We are proud to offer a comprehensive suite of services, including corporate events, weddings, and social gatherings. Our team of experienced event planners is committed to turning every client’s vision into a reality, providing meticulous attention to detail and unparalleled creativity.

  • Unique Selling Proposition (USP):

What sets XYZ Events apart is our innovative approach to event planning. We leverage cutting-edge technology to enhance the planning process and create immersive experiences for our clients. Our team combines creativity with strategic thinking, ensuring that each event not only meets but exceeds expectations. Whether it’s a corporate conference, a dream wedding, or a milestone celebration, XYZ Events brings a fresh and personalized touch to every occasion.

  • Objectives:

XYZ Events is poised for strategic growth over the next three years. Our primary objectives include expanding our client base, increasing revenue by 25%, and establishing key partnerships within the hospitality and entertainment industries. We are committed to maintaining our reputation for excellence while embracing new opportunities for innovation and growth.

  • Target Market:

Our target market includes corporate clients seeking professional event management, couples looking for a stress-free wedding planning experience, and individuals hosting social events. We understand the unique needs of each segment and tailor our services to create memorable and impactful events.

Led by [Founder/CEO], our team comprises seasoned event planners, designers, and coordinators with a proven track record of success. Our diverse skill set allows us to approach each event with creativity and expertise, ensuring a seamless and enjoyable experience for our clients.

  • Financial Projections:

XYZ Events anticipates steady growth, with projected revenue of $[Amount] in the first year and a cumulative growth rate of 20% over the next three years. Our financial projections are based on a comprehensive market analysis and a strong understanding of industry trends.

  • Call to Action:

We invite you to explore the detailed business plan to discover how XYZ Events plans to revolutionize the event planning landscape. Whether you’re an investor, potential client, or industry partner, we welcome the opportunity to collaborate and create exceptional experiences together.

XYZ Events is not just an event planning company; we are architects of unforgettable moments. Join us in shaping the future of event experiences.

2. Company Description

Company description exists in your event management business plan to provide an overview of your business, its history, and its structure. But how do you create a solid company description you’ll be proud to put into your business plan for everyone to read?

Begin with a concise and engaging introduction that captures the essence of your event planning business. Clearly state the name of your company and its primary purpose. Your event management business plan should i nclude fundamental details such as the location of your business, the date it was founded, and any key milestones. You should also mention the legal structure of your company (e.g., LLC, sole proprietorship).

Company description should clearly articulate the mission and values that drive your event planning business. Express the purpose of your business and the principles that guide your operations. Another important aspect are also your services, and you should provide a brief but comprehensive overview of the event planning services your business offers. Highlight any specialties or unique aspects that set your services apart. 

More tips for company description in business plan for event hosts:

Explain the problem you solve.

Clearly articulate the problems or challenges your event planning business addresses. Describe how your services meet the needs of clients by providing solutions and creating memorable experiences.

Share your business story

Offer a brief narrative that tells the story of how your event planning business came into existence. Include any inspiration, challenges overcome, or unique experiences that shaped your business.

Highlight key achievements

Mention any notable achievements or milestones your event planning business has reached. This could include successful events, recognition, or significant client satisfaction.

Emphasize your team’s expertise

Introduce key members of your team, emphasizing their relevant skills and experience in event planning. Highlight any certifications, awards, or industry recognition your team has received.

Explain your competitive edge

Clearly define what makes your event planning business stand out from competitors. Emphasize unique features, innovative approaches, or exclusive services that give you a competitive advantage.

Discuss your growth strategy

Outline your plans for the future growth of your event planning business. Discuss any expansion plans, target markets, or strategic partnerships you’re considering.

Remember that the goal of company description is to become a solid foundation for readers to understand your company’s identity and value proposition.

3. Describing Services You Offer in Event Management Business Plan

Describing the services you offer in an event management business plan is a crucial component, as it helps potential investors, clients, and partners understand the scope and value of your offerings. It also helps you make money hosting events , so let’s see how to do it right:

  • Begin by clearly defining each service you offer in your event management business. Use concise and specific language to articulate the scope and nature of each service.
  • If your event management business provides a range of services, consider grouping them into categories or creating service packages . For example, you might have categories like corporate events, weddings, social gatherings, and conferences.
  • Provide an overview of the planning process for each service. Outline the steps involved, from initial client consultation to post-event evaluation.
  • Emphasize your ability to customize services to meet the unique needs and preferences of each client.Discuss how you tailor your approach to different types of events and client requirements.
  • If you offer day-of coordination or event management services, explain the level of support clients can expect. Highlight your role in ensuring smooth event execution and addressing unforeseen challenges.
  • If your event management business leverages technology tools or event management software , mention them. Explain how technology enhances efficiency, communication, and the overall event experience.
  • If your services include event design and styling, describe your creative process. Showcase your expertise in creating visually appealing and thematic events.

concept illustration of services

Image by storyset on Freepik

  • If you handle vendor relationships as part of your services, discuss how you source and manage vendors. Highlight your ability to negotiate contracts and secure competitive pricing.
  • If your event management business assists with venue selection and logistics, explain your approach. Discuss criteria for venue selection and how you manage logistical aspects like transportation and accommodation.
  • If your services involve budgeting and financial management, outline your approach. Explain how you help clients set realistic budgets and manage expenses throughout the planning process.
  • If your event management business offers marketing and promotional services, detail your strategies. Discuss how you enhance the visibility of events and attract attendees.
  • Include case studies or examples of past events you’ve successfully managed. Use real-world examples to illustrate the effectiveness of your services.
  • Highlight your ability to adapt to different event sizes, themes, and cultural considerations. Showcase your flexibility in catering to diverse client needs.

4. Explaining Your Target Market

Explaining your target market in your event management business plan is essential for demonstrating a clear understanding of your potential clients an d how your services meet their needs.  

Because of that, you need to clearly define the demographic, geographic, and psychographic characteristics of your target audience. Identify the specific industries, groups, or individuals you aim to serve with your event management services.

If applicable, segment your target market based on different types of events (e.g., corporate events, weddings, social gatherings). Highlight any niche markets or specialized segments you plan to focus on. Don’t forget to include relevant demographic details such as age, income level, occupation, and education. Specify the size of the target market and any relevant trends within these demographics.

Psychographic factors are also important! Discuss the interests, lifestyles, and values of your target market. Explain how your event management services align with the preferences and attitudes of your audience.

More tips for explaining your target market in business plan:

target market concept illustration

Consider geographic factors

Outline the geographic locations where your target market is concentrated. If your services are location-specific, explain why you’ve chosen those areas.

Identify pain points and needs

Clearly articulate the pain points, challenges, and needs of your target market. Explain how your event management services address and alleviate these issues.

Highlight trends and market growth

Showcase any relevant trends or growth opportunities within your target market. Discuss how your event management business is positioned to capitalize on these trends.

Competitor analysis

Conduct a competitor analysis within your target market. Identify existing event management companies catering to the same audience and explain how your approach differs or improves upon theirs.

Explain your unique value proposition (UVP)

Clearly define your unique value proposition and how it resonates with your target market. Emphasize what sets your event management services apart from competitors.

Provide testimonials or case studies

If available, include testimonials or case studies from past clients within your target market. Use real-world examples to demonstrate your successful track record.

Discuss decision-making factors

Explain the factors that influence your target market’s decision-making process when choosing an event management service. Highlight how your business addresses these factors and provides solutions.

5. Event Planning Market Analysis

It’s not enough to do market analysis.

Presenting your market analysis clearly and compellingly is crucial in an event management business plan. Here is how to do it:

  • Begin the market analysis section with a brief executive summary. Summarize the key findings, such as market size, growth trends, and major opportunities or challenges.
  • Provide a general overview of the event management industry. Highlight the significance of the industry and the role it plays for other businesses. 
  • Clearly define your target market, including demographics, psychographics, and geographic considerations. Present a detailed picture of the audience you aim to serve with your event management services.
  • Present current industry trends and developments. Use charts or graphs to illustrate trends, making the information visually engaging.
  • Provide estimates of the overall market size for event management services. Present historical growth data, future projections based on reliable sources and other insightful event statistics.
  • Include a comprehensive analysis of your competitors. Create a chart or table that highlights key competitors, their market share, strengths, and weaknesses.
  • Present the results of your SWOT analysis.
  • Provide insights into the challenges and opportunities within the industry. Discuss how your business plans to navigate challenges and leverage opportunities. For example, how do your competitors effectively leverage event booking systems , and how efficient are they?
  • Detail the pricing strategies and fee structures prevalent in the market. Explain your pricing strategy and how it aligns with the perceived value of your services.
  • Present findings on consumer behavior when selecting event management services. Discuss factors influencing their decisions and preferences.
  • Discuss the distribution channels commonly used in the event management industry. Explain how your business plans to reach and engage your target audience.
  • Discuss the impact of technology on event management services. Highlight any technological advancements that your business plans to leverage such as event ticketing apps and tools .
  • Explore relevant environmental and social trends influencing event planning preferences. Show how your business is aligned with or responds to these trends.
  • Include selected customer feedback and testimonials. Use real-world examples to demonstrate client satisfaction and success stories.
  • Incorporate visual aids such as charts, graphs, and tables to present data in an easily digestible format. Use visuals to enhance key points and make the information more engaging.

Remember to tailor the presentation of your market analysis to your specific audience —whether it’s potential investors, partners, or internal stakeholders. Clear and concise communication of your market insights will contribute to a strong and convincing event management business plan.

6. Marketing & Sales Strategy

Marketing and sales concept illustration

Next chapter of your event planning business plan is developing and presenting a robust marketing and sales strategy. It’s crucial for attracting clients and investors. Here’s a step-by-step guide on how to formulate and effectively present this section:

Marketing Strategy

Target market and positioning.

  • Clearly define your target market segments and demographics.
  • Explain how your event management services meet the needs of these specific markets.
  • Emphasize the unique value proposition that positions your business uniquely in the market.

Branding and identity

  • Outline your brand identity, including logo, colors, and messaging.
  • Describe how your brand reflects the values and positioning of your event management business.

Online presence

  • Detail your online presence, including a professional website and social media profiles.
  • Discuss the platforms you will use to connect with your audience and share updates.

Content marketing

  • Explain your content marketing strategy to showcase expertise and engage your audience.
  • Detail plans for blog posts, articles, case studies, or other content that demonstrates your event planning knowledge.

Search engine optimization (SEO)

  • Discuss your SEO strategy to improve the visibility of your website in search engine results.
  • Outline the keywords relevant to your business and how you plan to optimize your online content.

Email marketing

  • Detail your email marketing strategy for reaching and nurturing potential clients.
  • Discuss the types of emails you’ll send, the frequency, and the goals of your email campaigns.

Networking and partnerships

  • Identify networking opportunities within the event planning industry.
  • Discuss potential partnerships with vendors, venues, or other businesses that can enhance your service offerings.

Sales Strategy

Sales channels.

  • Identify the primary sales channels you will utilize (direct sales, online sales, partnerships, etc.).
  • Explain how these channels align with your target market and marketing strategy.

Sales team structure

  • If applicable, outline your sales team structure.
  • Introduce key members and their roles in the sales process.

Sales tactics

  • Provide a detailed explanation of your sales tactics and methodologies.
  • Discuss how you plan to approach potential clients, conduct consultations, and close deals.

Pricing strategy

  • Clearly outline your pricing strategy for event planning services.
  • Explain how your pricing aligns with the value you provide and competitive market rates.

Sales forecast

  • Present a sales forecast outlining expected revenue based on your sales projections.
  • Break down the forecast by service categories or target markets.

Customer relationship management (CRM)

  • Discuss your CRM system and how it will be used to manage client relationships.
  • Highlight how you plan to retain clients for repeat business.

Sales promotions and incentives

  • Outline any sales promotions, discounts, or incentives you plan to offer.
  • Explain how these strategies align with your overall marketing and sales goals.

Presentation Tips

  • Use visuals like charts, graphs, and images to enhance the presentation. Create a visual representation of your sales funnel, conversion rates, or growth projections.
  • Be concise and use clear language to communicate your marketing and sales strategies. Avoid jargon or overly technical terms that may confuse your audience.
  • Present realistic and data-backed projections . Show a clear understanding of your market, industry trends, and potential challenges.

7. Operational Plan

Writing an operational plan for your event management business plan involves detailing the day-to-day operations, logistics, and processes that ensure the successful execution of events. But how do you structure and write an effective operational plan? Let’s see:

  • Describe the physical location of your event management business. Discuss any facilities, office space, or storage areas you use to support your operations.
  • Outline the organizational structure of your event management team. Introduce key team members, their roles, and responsibilities. Emphasize the expertise and experience that each team member brings to the business.
  • Provide detailed job descriptions for each team member. Clearly define the roles and responsibilities associated with event planning, coordination, design, marketing, and any other relevant functions.
  • Discuss your staffing plan, including the number of full-time, part-time, and contract staff. Detail any plans for hiring additional team members based on business growth.
  • Outline your approach to training and developing your event management team. Discuss ongoing education, certifications, or workshops that contribute to professional development. 
  • Detail the workflow and processes involved in event planning and execution. Provide a step-by-step guide, from initial client consultation to post-event evaluation.
  • Discuss how you source, negotiate with, and manage vendors. Outline criteria for selecting vendors and maintaining strong relationships with them.
  • Identify the technology tools and software you use to enhance operational efficiency. Discuss any event management plugin , project management software, communication tools, or CRM systems.
  • Detail your approach to handling event logistics, including transportation, equipment, and supplies.
  • Discuss how you ensure that all necessary equipment and materials are available for each event.
  • Explain how you maintain high-quality standards in event planning and execution. Detail your quality control processes to ensure client satisfaction.
  • Outline measures to ensure the well-being of attendees, staff, and vendors during events.
  • Provide an emergency response plan that addresses potential risks during events. Outline procedures for handling unforeseen challenges and ensuring the safety of all involved parties.
  • Create a timeline that outlines key milestones and deadlines for event planning and execution. Detail your approach to monitoring and evaluating the success of each event.
  • Discuss feedback mechanisms, post-event surveys, and metrics used to assess performance.

8. Team Structure

Explaining the team structure in your event planning business plan provides the reader with a clear understanding of the roles and responsibilities within your organization. You should:

  • Include an organizational chart that visually represents the hierarchy and relationships within your event planning team. Clearly show the positions and reporting lines.
  • Identify and introduce key leadership positions within your team. This may include the founder/CEO, directors, or senior managers responsible for overall business strategy and decision-making.
  • Detail the core event planning team members and their roles. Specify responsibilities such as event coordination, logistics, design, and client communication.
  • Provide detailed descriptions of the roles and responsibilities for each team member. Clearly define what each position is accountable for within the event planning process.
  • If applicable, detail the responsibilities and contributions of the founder/CEO. Highlight their vision, leadership, and strategic role in the company.

9. Financial Projections for Event Management Business Plan

concept illustration of financial projections

Image by Freepik

Everybody loves money, but not many people love finances and the complications that come with it.

Creating financial projections for your event management business plan involves estimating future revenue, expenses, and profitability. If it seems complicated, it’s better to hire an expert. Here’s a step-by-step guide to help you navigate the process:

Begin by estimating your sales revenue. Break down your services into categories (e.g., corporate events, weddings) and project the number of events you expect to handle.

Consider the pricing strategy for each service and calculate the total sales for each category.

Expense projections

Identify and estimate all the expenses associated with running your event management business. This includes:

  • Variable Costs: Directly tied to the number of events (e.g., event materials, transportation).
  • Fixed Costs: Remain constant regardless of the number of events (e.g., rent, salaries, insurance).
  • One-time Costs: Initial expenses such as marketing campaigns or setting up a website.

Gross profit margin

Calculate the gross profit margin by subtracting the total cost of goods sold (COGS) from the total revenue. This provides a measure of profitability before accounting for fixed expenses.

Operating expenses

List and estimate all operating expenses, including rent, utilities, salaries, marketing, and any other ongoing costs. Break down these expenses into monthly or annual categories.

Net profit or loss

Calculate the net profit or loss by subtracting total operating expenses from the gross profit. A positive result indicates profitability, while a negative result signals a loss.

These are all the most important financial projections, let see some additional ones you can use to strengthen your event planning business plan.

Additional financial projections for event managers:

 cash flow projection.

Create a cash flow projection to estimate the inflow and outflow of cash over a specified period.

Factor in the timing of payments from clients, vendor payments, and other financial transactions.

 Break-even analysis

Perform a break-even analysis to determine the number of events or revenue needed to cover all costs. This helps identify when your business will become profitable.

Sensitivity analysis

Conduct a sensitivity analysis to evaluate the impact of changing variables on your financial projections. Identify key factors that could influence your projections and assess their potential impact.

Financial ratios

Calculate financial ratios such as return on investment (ROI), gross margin, and others relevant to your business. These ratios offer additional insights into your business’s financial health and performance.

Pro forma balance sheet

Create a pro forma balance sheet to summarize your assets, liabilities, and equity at a specific point in the future. This provides a snapshot of your business’s financial position.

Pro forma income statement

Develop a pro forma income statement that outlines expected revenues, costs, and profits over a specified period. This statement provides a comprehensive overview of your business’s financial performance.

 Pro forma cash flow statement

Prepare a pro forma cash flow statement that shows the flow of cash in and out of your business. This statement helps ensure that your business has sufficient cash to meet its obligations.

Graphs and visuals

Use graphs and visuals to present key financial data in a clear and visually appealing manner. Visual aids can make it easier for stakeholders to understand your projections.

10. SWOT Analysis

A SWOT analysis is a strategic planning tool that helps businesses identify their internal Strengths and Weaknesses, as well as external Opportunities and Threats. Conducting a SWOT analysis for an event management business plan can provide valuable insights into its current state and potential future challenges and opportunities. Let’s see how to do it right:

Example: Experienced and Creative Team

Your event management business may have a team with extensive experience and creativity, contributing to the successful planning and execution of events.

Example: Strong Vendor Relationships

If your business has established strong relationships with reliable vendors, it can leverage these connections for better deals, quality services, and smoother event logistics.

Example: Limited Marketing Budget

If your business has a limited marketing budget, it may face challenges in reaching a broader audience and competing with businesses that invest more in promotional activities.

Example: Dependence on Key Personnel

If your business heavily relies on specific individuals, such as key event planners, their absence or departure could pose a risk.

Opportunities

Example: Growing Demand for Virtual Events

If there’s a growing demand for virtual events, your business can seize the opportunity to expand its services to meet this emerging trend.

Example: Collaboration with Local Businesses

Collaborating with local businesses or venues could open up opportunities for mutually beneficial partnerships and increased visibility.

Example: Economic Downturn

Economic downturns can lead to reduced corporate budgets for events, posing a threat to the demand for event planning services.

Example: Intense Competition

An increase in the number of event management businesses in your area could intensify competition, making it crucial to differentiate your services effectively.

SWOT Analysis Overview

Internal factors are within your control and are related to the organization itself. Strengths are positive attributes that contribute to success, while weaknesses are internal challenges that need addressing.

External factors are beyond your immediate control and involve the external environment. Opportunities are favorable external conditions that your business can leverage, while threats are external challenges that your business needs to navigate or mitigate.

11. Legal Structure

In the legal structure section of your event management business plan, you’ll outline the legal framework under which your business operates. This section is crucial for potential investors, partners, and stakeholders to understand the formal structure of your business. Let’s see the exact steps you should take to maximize the impact of this section:

#1 Clearly specify the legal structure of your event management business. Common structures include:

  • Sole Proprietorship: Owned and operated by a single individual.
  • Partnership: Owned and operated by two or more individuals.
  • Limited Liability Company (LLC): Provides liability protection for owners.
  • Corporation: Offers separate legal identity and limited liability for shareholders.

#2 Provide details about the ownership of the business. Include the names, roles, and ownership percentages of all owners or partners. Specify if there are any major investors or stakeholders.

#3 Mention the legal registration details of your business, including the business name, registration number, and the jurisdiction where you are registered. Include information about any trademarks or copyrights associated with your business.

#4 Outline how your event management business complies with local, state, and federal regulations. Specify any industry-specific regulations or licensing requirements.

#5 Detail the types of insurance coverage your business carries to mitigate risks. This may include liability insurance, property insurance, or event cancellation insurance.

#6 Highlight key contracts and agreements that govern your business operations. This might include client contracts, vendor agreements, and partnership contracts.

#7 Discuss the measures your business has taken to manage legal and operational risks.

#8 Briefly mention your exit strategy, especially if you plan to sell the business, go public, or transition ownership in the future.

12. Funding Request (if applicable)

If you want to ask for additional funds for your business, that makes your event management business plan even more important. Writing a funding request in your event planning business plan is a crucial section that communicates your financial needs, the purpose for seeking funding, and how the funds will be utilized to achieve business goals. 

Key tips for influential funding requests for event managers:

  • Provide a brief overview of your event planning business. Highlight key achievements, milestones, and aspects that make your business stand out. 
  • Clearly articulate why you are seeking funding. Specify the purpose of the funds, whether it’s for expansion, marketing, technology upgrades, working capital, or any other specific need.
  • Outline the preferred funding structure, such as equity financing, debt financing, or a combination of both. Specify the terms and conditions you are seeking, including the desired interest rates, repayment periods, or equity shares.
  • Marketing and advertising.
  • Technology upgrades.
  • Staffing and training.
  • Event logistics and equipment.
  • Working capital for day-to-day operations.
  • Present relevant financial projections to support your funding request. Show how the infusion of funds will contribute to revenue growth, profitability, and other key financial metrics.
  • Discuss the anticipated return on investment for the potential investors. Highlight the expected financial benefits and how their investment will contribute to the business’s success.
  • Provide a realistic assessment of potential challenges and how you plan to overcome them.
  • If applicable, outline your exit strategy. Explain how investors will realize returns on their investment, whether through an IPO, acquisition, or other means.
  • Emphasize your business’s competitive advantage and how the funding will strengthen that position. Highlight unique features, customer satisfaction, or proprietary methods that set your business apart.
  • Set clear milestones and targets that will be achieved with the funding. This demonstrates a strategic plan and helps investors understand the trajectory of your business.
  • Provide a timeline for when you anticipate securing the funding and when it will be utilized. This helps investors understand the urgency and planning behind your funding request.

13. Appendix

The appendix of an event management business plan is an additional section where you can include supplementary information to support and enhance the main body of the document. It’s a place to include detailed information, data, or documents that are important for understanding your business but may be too extensive or specific to include in the main sections. Here’s a list of items that you might consider including in the appendix of your event management business plan:

  • Financial documents, including income statements, balance sheets, event proposal templates , cash flow statements, and break-even analysis. 
  • Market research and analysis with detailed surveys, insights, and key competitors. 
  • Marketing and promotional materials
  • Client testimonials and case studies:
  • Legal documents such as business licenses, permits, and contracts.
  • Operational documents such as SOPs (standard operating procedures), event management resources , and sample checklists you use for event planning. 
  • Detailed information about any specialized event planning or project management software.
  • Certificates and awards
  • Articles and press clippings

Pro tip : Include a table of contents for the appendix to guide readers through the additional materials.

Impress Everyone with Amelia – Event Management Plugin 

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  • Amelia is more than just an event calendar; it’s a responsive and customizable plugin that adapts to various event types. Whether you’re organizing virtual meetups or grand offline galas, Amelia is tailored to your specific requirements.
  • Experience the ease of setting up recurring events with various options. From weekly meetings to annual conferences, Amelia’s clear calendar view simplifies the management of recurring events.
  • Effortlessly create visually appealing booking pages using shortcodes or popular page builders like Divi, Elementor, or Gutenberg blocks. With Amelia, your event booking page can be up and running in a matter of minutes.
  • Offer your attendees flexibility with Amelia’s deposit payment feature. Let them pay a partial amount upfront and the rest upon arrival, especially beneficial for on-site events.
  • Hosting events in multiple languages? Amelia’s translation option ensures a seamless booking experience for your international audience.
  • Set different ticket prices based on attendees’ profiles or purchase date. From early bird specials to varying prices for adults and kids, Amelia gives you control over sales periods and pricing.
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Select a topic to find the most up to date, practical information and resources produced by our experts to support you in your professional life.

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How to Start an Event Management Company: Business Plan Template

Every new business start-up needs a business plan. Without one, it’s easy to lose focus and you may find it difficult to attract investors, so it’s important to sit down to write one. The good news is that writing a business plan doesn’t have to be a difficult task. Chances are you’ve already got most of the information you need, and all that’s left to do is put pen to paper. 

In this article, we will explain what a business plan is and why you need one if you’re looking to start an event management company. We will also cover what you should include in a business plan for events management and provide you with a free, downloadable template that you can adapt and use for starting your business.

What is a Business Plan?

When first looking into how to start an event management company, it’s very likely that you were advised to write a business plan.

A business plan is simply a short document that sets out your event management company’s objectives. It helps you and your potential investors to clearly see what the business’ aims are (both financial and non-financial) and details how you’re going to ensure you achieve these goals.

Businessman writing up a business plan

What is Event Management?

Event management involves planning and organising a wide range of events, from a brand’s new product launch, to a client’s birthday party. Rather than planning an event themselves, an individual, corporation, organisation or brand will hire an event management business to take on this responsibility for them. That business will then manage every aspect of the event, from planning to execution and evaluation. 

Some of the key responsibilities involved in managing an event are: 

  • Learning about the client and what they want from their event. 
  • Identifying the target audience. 
  • Coming up with an event concept or theme. 
  • Organising guest lists, menus, seating and transport. 
  • Organising a venue based on the client’s needs. 
  • Hiring staff, including hospitality and entertainment.
  • Arranging guests, such as guest speakers.
  • Creating event schedules. 

an event manager creating a business plan in a notebook

Event managers must be excellent communicators, with lots of creativity, as well as having organisation and problem solving skills to ensure events run smoothly and exceed the client’s expectations.

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Looking to Learn More?

Our Starting a Business course explains how to successfully start your own business. It teaches you how to write a professional business plan and familiarises you with the legalities and regulations associated with starting a business. text.

Why Do You Need a Business Plan?

Any new business needs funding, staff and publicity to get off the ground and stand out from the competition. Writing up a business plan is a fundamental step toward achieving this. 

A business plan will clearly set out to potential investors why your business is going to be successful and, ultimately, why they should invest in you. The more they invest, the more staff you can hire to help build your business.

Additionally, event management companies need lots of resources to make events run smoothly, such as technology and transport, and these should all be factored into the business plan.

You may also decide at this point to specify what kind of events you want your business to plan, the types of client you will be working with and exactly what services your business will offer. By being specific, you are communicating to investors that you have a clear view of what you think your business will achieve. This can also help you determine branding and marketing strategies to appeal to your target market. 

It’s important to outline your marketing strategy in your business plan. Event management is a highly competitive industry, meaning you need to optimise marketing and publicity as quickly as possible in order to create publicity and distinguish yourself from your competitors. 

Most importantly, having a business plan will keep you on track. When you’re starting out with a new business, it can be easy to become overwhelmed with all the possible directions you could take your business in. Your business plan will help focus your direction and ensure that you stay on track with your business goals, helping you avoid wasting valuable time and money.

an event manager with a bride

What to Include in a Business Plan for Event Management

A business plan doesn’t need to be a long or complicated document. For a small event planning company, a side or two of A4 paper will suffice. Your aim is simply to write down all the key information about your business in a clear, logical order. 

The topics to include in your event management company business plan are: 

  • The name, address and contact details for your business.
  • Information on the management of the business.
  • Your company’s Mission Statement : a sentence summarising the overall aim of your company. 
  • Your start-up costs : do you need to buy any equipment or hire transport? Do you need to pay anyone a wage? Have you got insurance? 
  • Your business objectives: what will you sell and who is your target customer? 
  • The everyday costs of the business : how much will you spend on a weekly or monthly basis? Include all overheads and outgoing costs, such as wages and petrol. 
  • Funding and financial projections : where do you plan to get the money from to start the business? What are your projected profits/losses for the next month, year, two years, etc.? How will you maintain the cash flow? 
  • Where you will operate from : include where you will be based, plus information on any overhead costs associated with the business premises. 
  • What will be the business’ operating hours? Will you work on the business full-time? What will your working hours be? 
  • Does your business have any local competition? What is your unique selling point (USP) that makes you stand out from the crowd? 
  • Your pricing strategy : what are you going to charge for your service? Will you charge per event or per head?
  • How will you be paid for your service? Do you plan to issue invoices, ask for a deposit or ask people to pay in full upfront?

Download an Event Management Business Plan PDF Template

To get started, simply download our free, one page business plan template using the button below. This template is just a guide, so feel free to add your own headings on a second page to ensure that all information relevant to your business is recorded in one place. 

Starting up any new business will come with challenges but by having a clear and concise business plan in place from the start, you are putting yourself in the best position to achieve future success for your events management business.

Further Resources:

  • Starting a Business With No Money: Making Things Work Without A* Finances
  • What’s the Difference Between Trade Marks, Copyrights, Patents and Trade Secrets? 
  • 10 Elements to Consider When Organising a Corporate Event
  • 42 Tips for Producing a Memorable Small Business Event
  • Project Management Quiz
  • Business Essentials Courses

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Learn How to Craft a Successful Business Plan (Even with No Experience)

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Take the First Step in Learning How to Write a Business Plan, Even with No Experience

Antonio Del Cueto, CPA

May 8, 2024

business plan for events management company

Imagine your business as a spaceship blasting off into uncharted territory. It may sound exciting, but without a precise flight plan, that thrilling journey could end in a fiery crash. Similarly, most businesses don't fail because of bad ideas. They fail because they lack a clear roadmap.

This article will guide you through the process of crafting a business plan that's more than just numbers on a page. Learn the secret formulas that propel businesses from mere concepts to thriving realities.

business plan for events management company

Reimagining Traditional Business Plan Components

Executive summary with interactive elements.

Transform the executive summary into a dynamic experience using multimedia elements such as videos and interactive timelines. These components help demonstrate the business’s mission and goals, making it more attractive to would-be investors and potential customers.

Flexible Organizational Structures

Suggest designing an adaptable organizational framework that evolves according to strategic business needs and operational demands. This is especially beneficial for entrepreneurs who might need to navigate changes without a background in HR or traditional management.

Navigating Financial Management Without a Background

Simplified accounting tools.

For many new entrepreneurs, managing finances can feel overwhelming. Leveraging simplified digital accounting tools can significantly reduce this stress by automating most of the routine bookkeeping tasks. These tools are particularly beneficial for those without a financial background, making it easier to focus on other aspects of entrepreneurship.

  • Automation : Choose tools that automate entries for sales, purchases, and payroll transactions, ensuring accuracy and saving time.
  • User-Friendly Dashboard : Opt for software with an intuitive interface that simplifies financial tracking and report generation. This feature is essential for entrepreneurs who need to quickly access financial data without navigating complex menus.
  • Integration Capabilities : It’s important to invest in software that integrates with other business tools (e.g., inventory management systems, e-commerce platforms) to streamline all financial processes.
  • Scalability : As your business grows, you’ll need accounting software that can adapt to more complex financial demands without requiring a complete overhaul.

Further reading: Mastering Accounting for Tech Companies: The Ultimate Guide to Industry Accounting in the Technology Sector

Understanding business taxes.

A basic understanding of business taxes is essential for any entrepreneur, including those running a nonprofit or other types of organizations. Here are key elements your business plan should focus on:

  • Fundamental Tax Responsibilities : Clearly outline what taxes the business is liable for, such as income, payroll, and sales taxes. This information should be specific to your business's location and structure.
  • Maximizing Deductions : Include information on how to identify and claim relevant deductions to minimize tax liability. For example, if your business has significant equipment expenses or if you’re renting office space, you should know how these affect your taxes.
  • Seeking Professional Advice : While basic tax guides are helpful, consulting with a tax advisor or strategist can provide tailored advice that ensures compliance and optimizes tax benefits. This step is integral for complex situations or where the tax implications could significantly impact business finances.

Further reading: Maximizing Your Small Business Tax Benefits: 2023 Tax Year Strategies & New Reporting Changes

Budgeting made easy.

Budgeting effectively is a core skill every business owner should develop to ensure financial stability and facilitate growth. Here’s how to incorporate straightforward budgeting strategies into your business operations:

  • Expense Tracking : Start by categorizing expenses to track where every dollar is going. Categories might include rent, salaries, marketing, and web design. This clarity helps in making informed spending decisions.
  • Financial Forecasting : Use historical data to predict future spending needs and income . This is especially important for planning major investments or when scaling operations.
  • Regular Financial Reviews : Conducting regular reviews of your budget will help you stay on track and make necessary adjustments in response to financial performance or changing market conditions.
  • Budgeting Tools : Recommend specific budgeting tools that are designed for small business needs. These tools should provide visual representations of financial data, making it easier to digest and act upon.

Each of these sections should be detailed in the business plan to demonstrate a thorough understanding and proactive management of financial aspects. This approach not only helps in securing funding (e.g., from banks or venture capital) but also in managing day-to-day financial operations efficiently.

Building Strategic Partnerships and Collaborative Networks

Cross-industry alliances.

Engaging in cross-industry alliances is a strategic move that can drive substantial business growth and innovation. These partnerships leverage complementary strengths and resources, offering a multitude of benefits:

  • Innovation through Diverse Expertise : Combining knowledge and resources from different sectors can catalyze innovative solutions that neither partner could develop alone. For instance, a tech startup could collaborate with an established manufacturing firm to optimize production processes using advanced technology, resulting in a competitive edge in the market.
  • Access to New Markets : Each industry has its unique customer base. By forming alliances, businesses can bridge their offerings to new audiences. A successful example could involve a collaboration between a software development company and a telecommunications firm to introduce a new tech product to a broader audience, utilizing the telecom firm's extensive customer network.
  • Resource Sharing : Strategic partnerships allow for the sharing of critical assets such as technology, marketing channels, and expertise, leading to cost savings and enhanced product offerings. This might involve sharing R&D facilities or co-branding efforts for joint marketing campaigns.
  • Enhanced Credibility and Brand Perception : Partnering with reputable firms in other sectors can significantly boost a company's credibility and strengthen its brand image, attracting more customers and potential investors.

Documenting cross-industry alliances in a business plan must specify the objectives, expected outcomes, and the nature of the collaboration. Include specific information on how these alliances align with the business’ strategy and how they contribute to achieving the company’s goals.

Customer Involvement in Product Development

Integrate customer feedback into the product development process for aligning products with market needs and enhancing customer satisfaction. This strategy not only improves product-market fit but also fosters customer loyalty:

  • Direct Feedback for Better Products : Involving customers early in the development process ensures that the final product meets actual user needs and solves relevant problems. This can be achieved through methods like crowdsourcing ideas, beta testing new products, and incorporating user-generated content and suggestions into product design.
  • Build Customer Loyalty : Customers who participate in the product development lifecycle are more likely to develop a deeper connection with the brand, increasing their likelihood of becoming repeat buyers and brand advocates.
  • Agile Feedback Loops : Utilizing customer feedback during product testing phases allows for quick iterations and adjustments, greatly enhancing the product’s relevance and appeal upon launch.
  • Unlocking New Ideas : Customers often see different uses for a product or identify missing features that can lead to significant innovations, helping a company stay ahead of competitors.

The business plan must include a dedicated section outlining how customer feedback will be integrated into product development processes. This section should also include pricing strategies informed by customer input to ensure market competitiveness.

For businesses seeking funding or partnership, a well-crafted business plan is essential. Including sections like Cross-Industry Alliances and Customer Involvement showcases a comprehensive approach to strategic planning and market engagement.

For simplicity and clarity, especially when presenting to potential investors, consider summarizing key strategies in a one-page overview within the larger business plan. This not only highlights the strategic vision but also ensures that readers can quickly grasp the core elements of your plan.

Key Takeaways

  • Clarity is Key : Craft a clear, concise business plan to create financial projections and ensure a solid foundation.
  • Know Your Audience : Tailor your plan to engage stakeholders, addressing related topics like brand awareness.
  • Research Matters : Thorough market research strengthens your plan, supporting its solidity.
  • Financial Focus : Develop realistic projections for revenue and expenses to fortify your business plan.
  • Stay Adaptable : Flexibility is key to evolve strategies, including those for brand awareness, to maintain relevance.

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I was LinkedIn's first head of HR. PIPs don't work — there's a better way to help struggling employees.

  • Steve Cadigan has led HR teams at top companies for over three decades.
  • He has seen how performance-improvement plans (PIPs) often fracture relationships between managers and employees. 
  • The better alternative to PIPs allows employees to mutually agree to separate from the company.

Insider Today

Over the past three decades, I've witnessed various approaches to performance-improvement plans (PIPs) as an HR executive across five different industries and three countries.

Often, the traditional approach to PIPs — slapping them on employees who are underperforming without offering sufficient support — can feel punitive rather than constructive to many employees, fostering an environment of fear and mistrust.

But PIPs often fail to achieve their intended outcomes for a variety of reasons — from inadequately prepared managers to breakdowns in communication between managers and employees to subjective judgments of performance .

In my experience, the primary reason for the failure of PIPs lies in the irreparable fracture they create in the relationship between the employee and manager. Once the PIP process begins, this fracture in trust is seldom repaired. The atmosphere becomes palpably tense, and trust begins to erode.

PIPs lead to an irreparable fracture in the relationship

Recent stories of employees feeling unfairly targeted and demoralized and complaints of mishandling of PIPs have illuminated the complexities and challenges inherent in performance management.

These stories serve as cautionary tales, highlighting the potential pitfalls of traditional PIPs and the need for organizations to rethink their approach to managing underperformance.

Even if an employee successfully meets the objectives outlined in the PIP, the underlying tension and strain on the relationship often persist, adversely impacting productivity and morale not only for the manager and the employee, but for the entire team.

Related stories

I've rarely seen managers more tense than when addressing a PIP. These conditions don't set the stage for a productive process. At their core, PIPs should reflect an organization's commitment to achieving high performance. They should identify areas for improvement, set clear expectations, and provide a roadmap for progress.

A better approach involves choice

From 1998 to 2004, I was an HR executive at Cisco Systems, where I encountered a novel approach to the traditional PIP process.

Prior to my arrival, Cisco had recognized that something was broken in the PIP process. The HR team conducted a thorough analysis of PIPs across the company and made a fascinating discovery: most individuals placed on a PIP left the company within a year , regardless of whether their performance improved.

They spoke with many of the employees who survived their PIP and improved their performance yet still chose to leave, and the story they heard had a similar refrain. The employees felt their managers did not really support them, they no longer felt they were in a safe work environment, and many felt humiliated and deeply hurt by the process.

Looking at the data and listening to employees, the HR team developed a new approach that involved choice. Employees who were not performing to an acceptable level were offered two options:

Enter a PIP and try to improve, or

Mutually agree to separate from the company and receive more severance than they would if they failed the PIP.

By presenting employees with this alternative path, Cisco empowered them to make decisions aligned with their personal circumstances. This approach also alleviated stress for managers, enabling them to focus on other priorities. The conversations became more constructive, and employees appreciated being given a choice rather than feeling cornered into a dead-end PIP.

Challenge conventional practices

In the years since leaving Cisco, I've introduced this alternative approach to other organizations, contributing to healthier cultures and more constructive environments .

Performance evaluation is inherently subjective, and no process can eliminate all conflicts or unexpected reactions. However, offering employees a choice rather than a one-way ticket to a PIP can lead to more positive outcomes and healthier work environments.

As HR professionals and organizational leaders, it's our responsibility to challenge conventional practices and explore innovative solutions. By rethinking performance management and embracing alternative approaches, we can create a culture of trust, transparency, and continuous improvement where both employees and organizations thrive.

Steve Cadigan is a talent advisor to leaders and organizations around the world. He specializes in helping firms build talent strategies for the modern workplace.

Watch: Jill Kramer, CMO of Accenture, says disability inclusion should be baked into creative briefs

business plan for events management company

  • Main content

An El Pollo Loco Dining Room

El Pollo Loco Formulates High-Level Five-Point Growth Plan 

The strategy involves growing brand awareness, improving the guest experience, fostering a digital-first mindset, increasing unit-level economics, and accelerating unit growth.

An El Pollo Loco Dining Room

With new CEO Liz Williams at the helm , El Pollo Loco is drawing up a blueprint to drive sales, decrease costs, and ultimately spark new unit growth. 

Williams laid out a five-point plan for getting the development flywheel going again during her first earnings recap since joining the company in March. It starts with sharpening the brand positioning and leaning deeper into two key differentiators: better-for-you grilled chicken and Mexican flavors. 

“El Pollo Loco sits at the intersection of chicken and Mexican, two of the fastest-growing categories,” Williams said during the company’s Q1 earnings call last on May 2. “We are beloved for our high quality of ingredients, our freshness, and our ability to customize—all for a good value and with the convenience of fast service, oftentimes through a drive-thru. We need to spend more time communicating these messages.” 

A strong start to fiscal 2024 shows the brand already has the right building blocks in place. Same-store sales were up 5 percent in Q1. The average check grew 2.6 percent, partially due to higher menu prices, but transactions increased 1.2 percent, too.

Prices were up 6.7 percent year-over-year. In addition to what it was already carrying heading into the quarter, El Pollo Loco took just over 1 percent in price at the start of April, when California upped its minimum wage for fast-food workers to $20 an hour. The vast majority of its roughly 500 units are in the state. 

READ MORE :

El Pollo Loco Aims for Consistency as Growth Looms

Amid CEO Change, El Pollo Loco Keeps Eyes On Accelerated Growth

El Pollo Loco Seeks Innovation on Multiple Fronts

CFO Ira Fils said the move put some pressure on average tickets and transactions, but “in an area that we’re comfortable with.” 

Unlike many of its quick-service competitors, the chain isn’t seeing a sharp drop off in lower-income customers, Williams added. She credited that to options that help stretch the dollar, like a growing assortment of family meals. Demand for healthier, higher-priced items like Pollo Bowls and Tostada Salads hasn’t waned amid a softer consumer backdrop, either. 

“We really believe that you’ve got to have everyday value across the menu, first and foremost,” Williams said. “Even some of those more expensive items, like a Tostada Salad, the consumer has to really feel like they’re getting a wonderful, delicious, craveable, and filling meal, even though it might be on the upper end of their price band. So that’s number one. But then in the sub-$10 price range, we’ve got to figure out how to continue to innovate there.”

The company is experimenting with its burrito platform, adding new items and testing them at different price points to amp up the value proposition. And it will continue focusing on bringing “thoughtful innovation and affordable options” to the table going forward. 

“Bottom line, we have an incredible opportunity to position the brand for long-term traffic gains,” Williams said. 

Efficient and consistent operations are critical for driving those gains. To that end, the second strategic pillar centers around improving the customer experience with a “hospitality mindset.” That starts with clear systems, processes, tools, and a best-in-class training program. 

“We know we have an opportunity to drive speed and to make the team member jobs easier, which will also enhance customer service,” Williams said. 

El Pollo Loco already has been zeroing in on consistency and operational improvements. Last year it launched an updated operations manual and fresh training materials. It also implemented a semi-annual marination calibration and tested enhanced holding equipment to improve the execution of its signature fire-grilled chicken.

Williams sees plenty of opportunities to continue driving consistency through simplification and labor efficiencies. She pointed to the brand’s salsa offerings as an example. It simplified its lineup last year when it reduced its salsa count from two to one. It followed that up by introducing new equipment that is easier to use and easier to clean. 

The chain also is unlocking labor savings with in-store kiosks. It started testing those last year and plans to have them installed in all corporate stores this summer. Franchisees are starting to actively deploy the technology, too. 

When combined with a cash machine, in-store kiosks are helping teams serve guests “more efficiently with less labor, especially at peak traffic periods,” Williams said. 

That leads to the next strategic pillar: becoming a digital-first business. The goal there is to “unlock a frictionless experience” and “reach customers for whom convenience and value are key decision factors.” 

El Pollo Loco has made several investments in consumer-facing technology, including digital ordering through its website and mobile app and integrated third-party delivery. It also has a revamped Loco Rewards program geared toward creating more opportunities for member engagement. That rolled out last spring when the company launched a tier-based rewards platform. It was the first major update since the program launched five years ago, when it was a 1:1 point system with a $10 reward for 100 points. 

Williams said there are other investments on the horizon, hinting at “new digital technologies in the drive-thru that enhance the customer experience and further automate ordering.” More details on that front will come as tests get underway. 

Restaurant-level margins were 17.6 percent in Q1, up from 15 percent in Q1 of 2023. Williams wants to get those figures back to where they were six or seven years ago. In 2017, for example, store-level margins were around 22 percent. 

Returning to that higher range is part of the fourth pillar, centered around delivering “winning unit-level economics” and improving restaurant profitability. Much of that margin expansion will come from labor productivity gains under the second and third pillars. The company also is reviewing everything from COGS to R&M, utilities, and all other controllable expenses.

“While still early in the process, we have identified several areas of improvements,” Williams said. “More importantly, we are doing this methodically to ensure it does not impact our high-quality food or the guest experience.” 

Additionally, El Pollo Loco is incorporating a modernized brand image at its stores with a remodeling program that already is showing strong returns and improved sales. Now, it’s looking to incorporate feedback from those sites to further value engineer the updates ahead of a full rollout. 

The first four pillars—growing brand awareness, improving the guest experience, fostering a digital-first mindset, and increasing unit-level economics—will help accelerate new unit growth. That’s the final part of the plan Williams hatched during her first few months on the job. 

The first priority under that pillar is updating the restaurant design and lowering the cost of new builds. 

“Our current prototype cost about $2.2 million,” Williams said. “Simply put, that is too expensive to drive consistent, long-term franchise growth.”

To remedy that, El Pollo Loco is working with multiple partners to reduce the cost of the new prototype it has in the works. At the same time, the chain is aiming to improve its development capabilities by dedicating more resources toward the franchise business. That includes bolstering recruitment efforts, providing a higher level of support for operators, and “thoughtful evaluating” both the market entry strategy and existing market growth plans. The company also recently launched a new development incentive for all of its franchise partners. 

Two corporate restaurants and five to seven franchised restaurants are slated to open in 2024, up from the five restaurants that opened in 2023. The footprint is currently at 495 units, including 172 corporate stores and 323 franchised restaurants.

The combination of reducing build-out costs, improving unit-level margins, and offering a meaningful development incentive, together with strong sales growth, is a formula that will reinvigorate the pipeline over time, Williams said. 

“We’re just getting into this transformation as it regards to taking cost out of the unit,” she said. “I know the team was really working on it, but I think we didn’t get as far as we needed to get. And then when you couple that with the fact that our economic model wasn’t as strong over the last 12 to 18 months, those are the two things you’ve got to have if franchise partners are going to invest. I feel comfortable that we have a plan on our economic model. I think we’re headed in the right direction. So, now we really have to do the work on the cost engineering of our buildings, and do that very quickly, because we don’t want to wait around.”

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The 7 Best Event Management Companies in Germany

The 7 best event management companies in germany, 1. travelperk: best for covering travel organisation.

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What types of events can you plan with TravelPerk?

  • Meetings of 2-50 attendees
  • Conferences of 50-1000+ attendees
  • Awards ceremonies
  • Charity nights
  • Team building events
  • Hybrid events
  • Group bookings
  • Audio/visual effects
  • Incentive programmes
  • Ground transportation
  • Theming and production
  • Project bookings
  • Delegate registration

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2. fine berlin: best for corporate event organisation variety.

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  • Team events
  • Team building
  • Product launches
  • Corporate event conception
  • Corporate event implementation
  • Location research
  • Communication & guest management
  • Cost planning and invoice processing
  • Logistical planning
  • On-site support

3. Sol GmbH: best at making event exhibition stands

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  • Corporate events
  • Conferences
  • Exhibitions
  • Global events
  • Trade shows
  • Event management and implementation
  • Custom stand creation
  • Marketing services
  • Advertising

4. Berlin Event: best sustainable event planning

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  • Marketing events
  • Gala events
  • Green events
  • Event conception
  • Event implementation
  • Venue organisation
  • Programme planning
  • Side events

5. Aparted Communications: best social corporate events

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  • Product presentations
  • Brand showcasing
  • Full event service management
  • Event conceptualisation
  • Event organisation
  • Event marketing

6. WordUp PR: best PR and communications agency for events

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  • Public events
  • Political events
  • Event management implementation
  • PR services and lobbying
  • Social media marketing
  • Print and broadcasting

7. QT Events: best at brand showcasing events

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  • Virtual events
  • Event design and creative direction
  • Audiovisual and technical support
  • Event ticketing
  • Ground staff support
  • Restaurant and catering management
  • Tailored activities and teambuilding events
  • Project management

Organise the perfect corporate event with TravelPerk

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The top 5 ATPI alternatives to consider in 2024

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How to Write an Event Business Plan: A Complete Guide

business plan for events management company

Events need to prove their worth to get funding. Without an event business plan, your idea may not find support. An event business plan helps you focus on the purpose and goals of the event. In your plan, illustrate your event’s financial potential and plan the resources and operating structure you’ll need to deliver. Whether you’re brand new or an established event planner, think of your business plan as the strategic vision for where your event can be three to five years from now.

Table of contents

Why do i need an event business plan, executive summary, section 1: background and history.

Section 3: Development plan

Section 4: Event requirements

Section 5: Marketing and communications plan

Section 6: Financial plan and considerations

Section 7: Appendices

If you’re hoping for long-term financial returns on your event planning, you’ll need a reliable event business plan. Even if you’re used to winging most of your event planning, having your strategic vision down on paper will save you time and resources, and minimise stress in the long run. Here’s how:

  • It’ll help you keep track of your budget, so you don’t have to worry about overspending.
  • It doubles as a calendar for key dates and deadlines, such as venue selection, invitation mailing windows, etc.
  • The plan is a handy checklist – it’s easy to track what’s already been taken care of and what still belongs on your to-do list.
  • You’ll have a reliable way to track metrics for what actions are being taken to meet your event goals.
  • It’s a one-stop shop for all your logistical needs.

Read on to discover what to include in your event business plan and how to structure it.

Your front cover should detail your event name, the document’s title (for example, [Event Name] Business Plan 2022-2024), the date created, and your contact details. If you already have a logo, include that as well.

Your table of contents should be a way for someone to understand your business plan quickly. Use numbers and titles to clarify the main sections and include subheads within those sections.

The executive summary should contain a comprehensive overview of the event. It’s essentially an elevator pitch you’ve had time to edit to perfection. It introduces you and your event and lets your reader know why they should care enough about your event to read the rest of the document.

Your summary should be at least one page long but no longer than 10% of the total length of the plan. Although it’s at the beginning of the plan, edit it after writing the rest of your content to ensure it accurately summarises your whole strategy.

Your executive summary should contain the following:

  • Basic information: What the event is; when and where it will take place
  • Your mission: The event’s purpose; how will it benefit the stakeholders
  • Your background: Information about you (the event creator) and anyone else involved
  • Budget: An estimated event income and expenditure
  • Business plan reviews: Time set aside to monitor progress

This section allows you to showcase who you are and how you’re different. Share your background, history, and past success.

  • Who you are: Provide background information about you and the tea m behind the event. Add details about relevant experience. What events have you worked on in the past? What’s your track record?
  • Event history: If it’s the first year of your event, detail where the idea for the event came from and any historic information about the event category and audience. For existing events, detail when your event was launched, why it was founded, where it’s been held, who it attracts, and how it has developed.

Remember to include any milestones that would impress readers.

Section 2: Development plan

Your development plan is the place for you to think big. Identify your long-term vision. Then, showcase your strengths and clarify how you’ll overcome your weaknesses.

  • Vision: Describe the long-term vision for the event and any specific goals – for example, to launch internationally or franchise your event series.
  • Strategic development:  Outline your plan for the event three to five years from now. How will you achieve key objectives? What’s the timeline, and who’s responsible for driving strategy and implementation?
  • SWOT (strengths, weaknesses, opportunities, and threats) analysis: Identify strengths and weaknesses of your event, as well as opportunities and threats it faces.
  • Risk factors: Provide an initial risk assessment covering key areas such as programme s , finances, operations, reputation, legal, audience, and health and safety. Show how you’ll manage and mitigate these risks.

Section 3: Event requirements

Once you know your vision, lay out the details. Determine what’s needed for putting on this type of event in terms of venue, services, and permits.

  • Facilities: List the facilities required for the event –  venue , accommodation, catering, and technical support.
  • Services: List the services required – staffing, traffic management, health and safety, security, and medical support.
  • Production: Detail the production equipment required – power, fencing, staging, sound, and lighting.
  • Legal and insurance: Detail the necessary insurance and licenses required to cover all aspects of the event.
  • Technology: List the technology you’ll need to make your event successful – think audio/visual needs and ticket scanners.

Section 4: Marketing and communications plan

Your marketing and communications plan will be your roadmap for getting the word out about your event. At this point, your business plan is getting long – but don’t quit now. It doesn’t matter how compelling the rest of your plan is if this portion of your event business plan isn’t built out. No one will attend an incredible event if they don’t know it’s happening!

  • Positioning : What’s the message you want to relay to your audience? This is what makes your brand different. What do you want future attendees to think of when they hear about your event?
  • Product : Detail what the event offers attendees.
  • Price : Explain your   pricing strategy and different ticket options.
  • Convenience: Explain how you use technology to drive attendance.
  • Promotion : Detail the  promotional t a ctics you’ll use to reach your audience – social media, paid advertising, direct mail, print media, or influencers.
  • Budget plan : Provide a breakdown of your event marketing budget. Not sure where to start? Check out this   event budget guide

Section 5: Financial plan and considerations

No event business plan is complete without an analysis of financials. Explain the expected value of your event – your revenue streams and losses.

  • Income and expenditure projections : Demonstrate that your event is financially viable and achievable. How will the event be paid for? Identify income streams such as ticket and exhibition space sales, funding, grants, and sponsorship. Present detailed event budgets and cash flow projections for the period of the plan. Use this  event budget template to help with calculations.
  • Economic impact estimation: If your event is large, what benefit will it have for the local area? For example, you might attract out-of-town attendees that benefit hotels, restaurants, and other businesses. If it’s a smaller pop-up, how will you partner with other local businesses? Show that your pop-up is an economic investment in the community.

Section 6: Appendices

Include any additional materials such as third-party reports, research documents, codes of practise/policies, and site/venue maps. Not sure if you should include something in the appendix? Include the material if you think it would help answer a reader’s question.

Turn your plan into reality

Writing a comprehensive event business plan is the best way to validate your event and focus your team and other stakeholders on your goals. Once everyone has signed off on your event business plan, stay on track to make your goals a reality with this event planning Gantt chart .

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Andrea Tang

Andrea Tang has built a diverse portfolio of content, covering a range of topics that include international affairs, business, and sports. She loves storytelling in all forms, and regularly collects new hobbies - such as martial arts, aerial circus, and theater, to name just a few - in the guise of “research”.

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Global Event Planning Business Plan

Start your own global event planning business plan

GlobeSpan Meeting Planners, Inc.

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

GlobeSpan Meeting Planners, Inc. (GlobeSpan) will be formed as a company specializing in the representation of meeting planners from all industries. The founders have over 17 years experience in the hospitality industry working with both domestic and international meeting planners. GlobeSpan will allow the founders to utilize their expertise with meeting planners while working with hotels and resorts across the globe.

GlobeSpan Meeting Planners will partner with HelmsBriscoe, the industry’s largest and finest meeting and conference resource firm thus placing a full service meeting operational division at GlobeSpan’s disposal.

Global event planning business plan, executive summary chart image

1.1 Mission

It is the mission of GlobeSpan Meeting Planners to be the top producing member of the HelmsBriscoe meeting planning alliance by providing the highest quality service to our clients. By providing a total meeting resource including hotel/resort site searches, rate and contract negotiation, as well as recommendations for complete event planning, on-site management, airline assistance, and cruise assistance at no cost to the client, GlobeSpan becomes a time-saving “one-stop shop.” GlobeSpan is a perfect, no-cost alternative to the hassle of in-house meeting planning. GlobeSpan will be compensated by the hotels/resorts, and by the complete event planning/airline/cruise assistance offered by HelmsBriscoe’s Resource One at the rate of six percent of gross revenues generated, paid in commission. GlobeSpan provides an easy, valuable alternative for its clients, and a flexible work environment with equitable compensation for its founders.

1.2 Keys to Success

There are four key elements we will accomplish to succeed:

  • Utilize the unique expertise of both owners to offer increased value to the client.

1.3 Objectives

  • To completely repay small business loan of $50,000 by July 1, Year 4.

Business Climate

GlobeSpan Meeting Planners is a knowledge-based small business start-up on the cutting edge of what has been deemed the “new economy” by The Wall Street Journal . Selling expertise, they go on to say, is the basis of the present and future economy. Start-ups are growing at three times the rate of the national economy. In addition, The Wall Street Journal states “creativity is overtaking capital as the principal elixir of growth.” Cognetics, a business information tracking firm, calls the surging significance of small to mid-sized businesses the economy, stressing the significance of this new segment of businesses.

Additionally, in a recent study by Credit Suiss First Boston, knowledge is now acting as a substitute for physical assets for the new businesses. They are also quoted as saying “in a knowledge-based economy, there are no constraints on growth.” These are all excellent indications that the economic foundation is strong for the launch of GlobeSpan.

Specifically, the $100 billion meeting industry is strong and GlobeSpan will be a profitable player within the industry.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

GlobeSpan, in strategic alliance with HelmsBriscoe, will provide a time-saving and valuable event planning service to companies who have a lack of destination/meeting planning knowledge, are understaffed or unable to take on the time consuming task of site selection/meeting planning, or want to take advantage of our free expert site selection. With hotel/resort partners worldwide, as well as cruise/air/production/program planning partners at Resource One, the best fit for the clients’ needs will be found while generating maximum revenue for GlobeSpan.

3.1 Company Ownership

GlobeSpan Meeting Planners, Inc. will be a privately held Arizona S corporation based in Goodyear. The company is currently in the process of filing for incorporation with the Arizona Corporation Commission. The owners, Tracey Latkovic, former Director of sales of a major Arizona resort, and Kerry Feltenberg, former director of catering/conference services of a major Arizona resort, will have equal shares in the company.

3.2 Start-up Summary

Start-up costs are $4,800 and will be financed by the owners. An additional $50,000 is needed to cover the first six months of client searches. The following chart and table outline the assumed distribution of expenses, assets, investment, and loan liability.

Global event planning business plan, company summary chart image

3.3 Company Locations and Facilities

The company will be located in Goodyear, Arizona, with a second office in Avondale, Arizona. The owner’s home offices will be linked electronically to ensure real-time communication.

GlobeSpan Meeting Planners does worldwide hotel/resort searches, and provides recommendations for those which best match the client specifications free to the client, as GlobeSpan is compensated by the hotel/resort. Additionally, GlobeSpan refers clients to Resource One to provide in-depth meeting planning, production, airline, and cruise assistance.

4.1 Service Description

GlobeSpan plans to provide two basic services to its clients:

  • Other Services : GlobeSpan will take advantage of the strategic alliance with HelmsBriscoe’s Resource One and have available all of the resources of a large meeting company. GlobeSpan will recommend airline and cruise bookings, management of hotel room blocks, and full-service meeting production. GlobeSpan will be compensated by HelmsBriscoe by commission on a per program basis.

4.2 Competitive Comparison

There are three categories of competitors, all of which have distinct weaknesses compared to GlobeSpan Meeting Planners:

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  • Small “mom and pop” competitors, which are solely owned and operated by one individual, offer site searches to the client. GlobeSpan has the advantage over this type of company by offering a more professional service to the client and the buying/full-service power of the HelmsBriscoe alliance.

4.3 Sales Literature

As part of the benefits of the alliance with HelmsBriscoe, a full-color brochure describing the business with client testimonials, as well as a four-1/2 page color insert describing the features and benefits of the site selection service will be provided by HelmsBriscoe to GlobeSpan. Additionally, four inserts, each four-1/2 page color, describing Resource One, Housing Solutions, Cruises, and Air Partner, will be provided by HelmsBriscoe to GlobeSpan.

Letterhead, with our logo is also provided by HelmsBriscoe, will be used to send customer-specific sales letters and tailored proposals. Shell sales letters and client proposals will be established. Request for proposal letters with an area for hotels/resorts to acknowledge payment of commission will also be established.

Online “brochures” will be created to email to clients. A regular monthly newsletter will be created to email to clients as a reminder of services offered.

All collateral pieces will convey the features, benefits, value, service, and professionalism of GlobeSpan Meeting Planners.

4.4 Fulfillment

We will fulfill the clients’ needs by dividing tasks based on the area of expertise of each owner.

First, by providing professional salesmanship, customer service and follow-up based on the specific needs of the client.

Second, by providing detailed, knowledgeable interaction with the hotels/resort to match them with client needs, as well as understanding and recommending additional services such as air, cruise, production, room block management, etc.

4.5 Technology

Technology is essential to today’s meeting planner. GlobeSpan Meeting Planners will stay on the cutting edge of technology.

  • Other Technology . Utilizing communication advantages such as Caller ID, call forwarding from office telephones to cellular telephones to ensure every call is answered, and a message system which allows callers who receive a message to page an owner for an immediate response. Additionally, the two home offices will be linked to ensure both calls and the database can be accessed in both places.

4.6 Future Services

Future plans for expansion have been discussed, and include the marketing of materials/books to meeting planners on the “how to’s” of event planning and selling those materials, both online and by offering “seminars” to promote the information.

Also, in the future, GlobeSpan may offer on-site lead conference management either alone or in conjunction with Resource One.

Market Analysis Summary how to do a market analysis for your business plan.">

From the past experience of GlobeSpan Meeting Planners’ founders, small- to mid-sized companies that are not located in major metropolitan areas (i.e suburbs, smaller cities, rural areas) are not primary targets for other event planning companies and hotel/resort chains, and in general, are more receptive to solicitation. Therefore, these areas will be targeted.

Additionally, strategically focusing on companies who have not been represented by meeting planning firms or utilized meeting planning search firms in the past should bring us new clients.

Those who have a need for event planning services are companies with a lack of hotel/resort/destination knowledge, no on-site meeting planner, and/or no time to concentrate on site search details.

5.1 Market Segmentation

Some potential client profiles are as follows:

Corporate In the corporate segment, internal corporate meeting decision makers range from designated meeting planners, to administrative assistants, to company presidents. These potential customers are planning corporate group (10 or more rooms) meetings which range from small board to national sales meetings and can range from one to several hundred meetings per year. The corporate window for event planning can be as little as one month to as long as several years.

Incentive Incentive planners are a subgroup of the the corporate segment specializing in reward-based high-end group travel. Again, the decision makers can vary from office to office. They plan group incentive trips to, generally, resort destinations which can range from the top ten company executives to several hundred sales personnel. Typically, the window for incentive travel is between three months and one year due to the “qualification” imposed by the company on the personnel to attend the meetings (i.e. meeting sales quotas, hitting budget, etc.).

Association Associations, according to their by-laws, must typically have a specific number of meetings per year. Thus, the association planner’s calander is set years in advance. Usually, an association will have a few board meetings and one or more large conventions/trade shows per year. The potential customer is typically an on-site meeting planner, the executive director or the entire board.

Social/Military/Educational/Religious/Fraternal (SMERF) This market segment, sometimes referred to by its acronym SMERF, represents events which are planned by designated individuals who may be somewhat unfamiliar with meeting planning, such as social committee members, military personnel, teachers, pastors, or fraternal organization officers. This market segment’s meetings are typically mid-range to low budgeted events (usually due to the diverse economic status of the members and the need to avoid excluding any attendees due to costs).

Global event planning business plan, market analysis summary chart image

5.2 Service Business Analysis

GlobeSpan is a meeting planning resource firm. Third party companies, as they are commonly referred to by hotels and resorts, consist of firms who represent a small group of specific hotels/resorts, and mega meeting/incentive “houses,” which provide full services including airfare, housing, and on-site program administration, as well as large and small site search firms.

Due to the strategic alliance with HelmsBriscoe, GlobeSpan Meeting Planners, Inc. will be instantly recognizable to meeting professionals as part of the hospitality industry’s largest and finest meeting and conference resource firm. We will have the challenge of establishing ourselves with customers as a “client advocate,” not a hotel/resort representative, and separate ourselves from the mega-firms by the quality of personal service we offer.

5.2.1 Business Participants

The business presence in the third party portion of the meeting industry breaks down largely as follows:

Mega Meeting/Incentive Houses Advantage: These companies offer full service, from airfare to post-program follow-up, and offer the leverage and buying power of a large company because they have “preferred” vendors with whom they do large volume. Disadvantage: These companies are so large, they offer very little “custom” service for the client. Timely follow-up is always a concern when utilizing a very large company. The client will have many contacts for different services within the company. These companies often advocate the “preferred” vendors with whom they do more business than the actual client.

National Site Search Firms Advantage: These companies offer a time saving service to the client and are able to research any hotel/resort worldwide. Disadvantage: Many of these firms have become so large that the individual sales contact does not even remember which program from which client he/she may be working on at a given time. A resort may follow-up to propose a better offer for the customer, and the sales contact does not have the time or care to do any more than provide the initial information to the client. These companies are limited to site searches and can offer no other event planning assistance/value to the client.

Small Site Search Firms Advantage: These companies can offer good customer service and timely follow-up to the client. Disadvantage: These companies are so small and independent, most do not have the knowledge to offer the correct assistance to the client. Additionally, they do not have any leverage/buying power with hotels/resorts and lack a network of associates to offer any other information than what is presented by the hotel/resort salesperson to the clients.

5.2.2 Competition and Buying Patterns

As previously mentioned, the Professional Convention Management Association reports a rising trend to use third-party services. Planners are choosing that route for various reasons. They are finding that mergers within the hotel/resort industry are creating a more profit and less service-oriented business climate. Third-party planning companies are chosen to provide expert advice/recommendations. Overall, in the competitive atmosphere of third-party companies, there are several reasons why certain companies are chosen over others:

  • Personal Service. Potential customers do not want to feel like they are one of many other clients. They want personalized service.

5.2.3 Main Competitors

GlobeSpan’s competitors include:

Note: All competitors names have been removed for confidentiality.

5.3 Target Market Segment Strategy

Prospecting is the key to success. We must consistently bring in new customers to use our site selection service and who we can potentially upsell our other alliance services. To increase the success of prospecting, we must create targeted lists which fit the criteria of a future client. These lists will be compiled utilizing resources available to GlobeSpan Meeting Planners including, but not limited to, the Official Meeting Planners Guide, Meeting Planners International Directory, Executive Women International Resources, etc.

After ascertaining a potential customer by prospecting, we must follow though with efficient site recommendations based on the exact client needs, and always remember to upsell the additional client services to add value to our services for the client and increase possible revenues.

5.3.1 Market Growth

The growth potential in the meetings industry is strong. Currently, over $100 billion is spent annually on meetings, according to MeetingNews. In a study by Deloitte & Touche, conventions, expositions, meetings and incentive travel is listed as the twenty-second largest contributor to the gross national product. This spending is expected to grow between 2.9-4.2% per year, according to the Convention Liaison Council.

All indicators seem to predict growth within the meeting planning industry. In the Convene Magazine 8th Annual Market Survey, 89% of meeting professionals reported flat or increased meeting attendance expected for 1999 versus 1998. Likewise, PriceWaterhouseCoopers reported that upscale and full-convention hotels recorded over 70% occupancy in 1999, versus the average of 64.5% occupancy reported in 1997.

Growth within the corporate, association, incentive and SMERF market segments are conservatively estimated to grow at a rate of three percent, two percent, and three percent, and remain flat, respectively over the next few years.

5.3.2 Market Needs

Our target potential clients have a need for assistance in meeting planning/hotel/resort/destination expertise. They are looking for no-cost time saving options to allow them to prioritize other company tasks for which they are responsible. They have a need for a “silent” partner (GlobeSpan Meeting Planners) which will make them “look” better to their company. They range from secretarial level to company president and have the same information gathering and time-saving needs for different reasons. Those employees responsible for meeting planning want you to communicate with them on their terms. They require whichever mode of communication is most comfortable for their busy schedule, including email, fax, telephone, cellular telephone, messaging, and paging options. They want buying power with hotels/resorts, preferential treatment with their dates/patterns, knowledge of all destinations worldwide, and efficiency in the presentation of site search findings.

Within the target marketing segments, corporate, association, incentive, and social/military/educational/religious/fraternal (SMERF), the following situations may exist, creating a need for the services offered by GlobeSpan:

  • Meeting Planners who need to concentrate on internal meeting content and have little or no time to complete the time consuming task of site selection and/or airline coordination, on-site production, hotel room block management, etc.

5.3.3 Market Trends

More meetings are being planned by key corporate industries, such as the pharmaceutical, medical, automotive, financial, high technology and e-commerce industries, largely due to the success of these industries in the current bullish economy. Thus, a need to outsource some of the work associated with that increase. Additionally, associations are seeing an increase across the board in membership participation making industry meetings larger and more complex.

Strategy and Implementation Summary

GlobeSpan, with our strategic alliance with HelmsBriscoe, will offer the great customer service of a small company; yet, offer the services of a big company to our clients. With aggressive prospecting, follow-up, and attention to detail, GlobeSpan will exceed the needs of the four target market segments. We will develop our niche market–those clients needing a “silent partner” to save them time and offer intelligent solutions–by targeted sales and service. We will commit to a consistent “review and change” process by which we can anticipate the needs of the marketplace and implement change to stay competitive.

6.1 Competitive Edge

There are several competitive edges that GlobeSpan Meeting Planners has over its competitors. First, over national representation firms, GlobeSpan has the freedom and ability to present any hotel/resort as a solution to the customer, we are not restricted to a few retainer hotels/resorts. Second, we can offer the services of a big company but are still small enough to offer great customer service to the fastest growing segment of businesses–small-to mid-sized. Third, while national site search firms are limited to just finding a destination for the customer, through our alliance with HelmsBriscoe’s Resource One, we have the ability to help with all aspects of the meeting, as well as offer assistance with airfare and cruises. Fourth, although small search firms can only offer limited knowledge and service, our alliance with HelmsBriscoe allows us access to over 180 associates and databases detailing the experiences at each destination.

Overall, GlobeSpan will offer the best of both worlds–small-company service with big company expertise.

6.2 Marketing Strategy

The owners’ 17 years experience in the industry will bring a wealth of contacts with whom to build a network of referrals. We will utilize the marketing materials offered by HelmsBriscoe as a foundation, and build upon the quality letters, proposals, newsletters and reminder cards. We will be able to market like a small company with big company clout. We will benefit from the national marketing efforts of HelmsBriscoe, such as national advertising, national partnership marketing with hotels/resorts, Web marketing such as HotDateHotRates.com, HelmsBriscoe.com, HBMeet-Market.com, FirstOptionHB.com, the HelmsBricoe quarterly newsletter, and several international industry events per year, such as the Industry Summit.

6.2.1 Promotion Strategy

GlobeSpan will consistently ask clients for referrals and will keep in contact with customers by direct mail to update clients with new information and reasons to utilize our services. We will concentrate on complete client trust and strive to exceed client expectations, which will ultimately cultivate repeat business and increase referrals.

6.2.2 Pricing Summary

GlobeSpan Meeting Planners will offer its services free of charge to the client. From the property in which the client books the meeting, GlobeSpan will receive a 10% of total rooms revenue commission. Between three and four percent of this commission will go to HelmsBriscoe in return for the services described herein. The total commission for the company will break down as follows:

Although it does not seem like a large jump, for example, one percent commission on $10 million would translate to $100,000 for GlobeSpan. So it does add up significantly as our revenue numbers grow.

6.2.3 Marketing Programs

Our marketing programs for the first five months of operation are listed in our milestones chart. Specifically, we intend to get the word out with direct mail. All other national marketing efforts will be handled by HelmsBriscoe. At the end of the five months, we will re-evaluate our position based on meeting/exceeding our sales forecast and will make adjustments for the next six months accordingly.

6.2.4 Positioning Statement

For those companies, associations, and organizations who need time-saving, reliable, honest, and intelligent assistance with site searches and meeting planning, GlobeSpan can provide the timely follow-up, integrity, advocacy, and custom solutions of a small company while offering the leverage, technical and meeting destination knowledge of a big company. Unlike the national representation firms, GlobeSpan is not on retainer with specific hotels/resorts and, therefore, can offer objective solutions to the client’s custom meeting needs.

6.3 Sales Strategy

The features of GlobeSpan, combined with it’s no-cost service to the client, will assist in closing sales. We must stress to the client that our commission will not increase the price paid by the client to the hotel/resort and ensure the hotels/resorts utilized are consistent with this promise. To ensure future sales, we must have incredible follow-up and personalized customer service. We must create so much value in our service that planning a meeting without us would be viewed by the client as a mistake.

6.3.1 Sales Forecast

Our sales forecast in the appendix of this plan details our anticipated commissions. This is a very conservative estimate based on the actual history of sales of one of the owners. Please note the plan outlines the quarterly nature of corporate sales (our major segment) and tends to be lower during the beginning of a quarter (January through March would be one quarter) and heavier toward the close of the quarters. We anticipate no referral commission at first, however, we do anticipate that that commission will slowly and steadily increase over time.

Example: To achieve a $3,000 commission in month one, we are anticipating closing $50,000 in rooms revenue or approximately one contract at, for example, 75 rooms for four nights at a rate of $175 actualized in August. This would yield a $3,000 commission which is 6% of $50,000. The rest of the forecast is figured with the same reasoning.

Global event planning business plan, strategy and implementation summary chart image

6.3.2 Sales Programs

Our sales programs for the first five months of operation are listed in our Milestones chart. Specifically, we intend to qualify our customers utilizing industry directories such as the Meeting Planners Guide and other relevant resources, create planner specific letters and proposals based on each segment’s different needs, follow-up with telephone solicitation and personal letters and perform future follow-up in the form of friendly direct mail and telephone calls. At the end of the five months, we will re-evaluate our position based on meeting/exceeding our sales forecast and will make adjustments for the next six months accordingly.

6.4 Strategic Alliances

We will form a strategic alliance with HelmsBricoe Performance Group. This alliance will allow GlobeSpan access to many helpful items:

  • By utilizing the “permission marketing” of HelmsBriscoe, GlobeSpan is immediately recognized as the country’s largest meeting and conference resource firm. No introduction or start-up advertising is necessary.

6.5 Milestones

The following table offers our benchmarks for success. GlobeSpan has assigned each task to an owner and have very specific completion dates for each task.

As demonstrated, we are focused on marketing and sales. By ending the milestones in January, we are demonstrating a business philosophy–constant evaluation and change for the better. It is our intention to spend a week every six months thinking and evaluating the current status of our business and designing a new milestone charge for the future, which integrates our successes and creates new ideas for the future.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

The owners of GlobeSpan Meeting Planners have over 17 years of experience in the hospitality industry. With the knowledge of all aspects of event planning, from initial hotel contact to final hotel billing, we offer a solid base of information from which the customer can draw. The founders of GlobeSpan have worked with many potential planner customers already on the resort side and have demonstrated competence in meeting site selection and planning.

We will rely on Resource One to outsource any upsold services such as air/meeting development/program administration/destination management/production/on-site negotiations. Uniquely, GlobeSpan will earn commission on this outsourcing and it will provided at no charge to GlobeSpan.

7.1 Organizational Structure

The two owners will divide the responsibilities of the business. While both will decide on major company matters, the day to day operation will be divided into two major sections:

  • Hotel/resort contact, site selection and upsell of additional services.

Administrative work will be divided equally as necessary among the owners with a part-time administrative staff position becoming available as soon as deemed appropriate by both owners to free the owners for direct client/hotel/resort contact.

7.2 Management Team

GlobeSpan is committed to sales and service. Tracey Latkovic, former director of sales of a major resort, has taken on the sales role within the company. Kerry Feltenberg, former director of catering/conference services of a major resort, has taken on the service role within the company. This leaves no expertise out and provides a solid foundation for GlobeSpan.

Kerry Feltenberg reached executive level at [confidential], one of the most prestigious resorts in the nation, as director of catering/conference services. Her education includes the designation of CMP, certified meeting professional, which requires ongoing education, publication of articles in industry journals and public speaking engagements. A very successful professional, Kerry adds former President of Executive Women International to her list of achievements.

Tracey Latkovic is the former director of sales for [confidential], responsible for a five year personal achievement of over $21 million dollars in room sales. Her education includes a bachelor of science in aeronautical engineering with a minor in mathematics. She has been honored by Today’s Arizona Woman Success Magazine as one of the Top Ten Women in Business and Industry.

7.3 Personnel Plan

The table below outlines our payroll for the owners over the next three years. In year one, we are planning on a modest salary of $4,000 per owner per month to cover existing living expenses. This salary will increase a modest 4.8% in fiscal year 2002 and again a modest 4.8% in fiscal year 2003. We feel our dividends from growth will supplement our income in year two and three. The detailed monthly personnel plan for the first year is included in the appendix.

Financial Plan investor-ready personnel plan .">

As a service or knowledge-based corporation, GlobeSpan Meeting Planners, Inc. will begin with very little start-up costs, and one long-term loan to allow the owners the ability to establish the company. As indicated on the following charts and tables, GlobeSpan will grow to need fewer funds over time to maintain growth. By year five, GlobeSpan will be completely debt-free and working with nearly the same overhead as it did on day one.

8.1 Important Assumptions

The following table of General Assumptions outline our conservative general assumptions on an annual basis. A monthly outline of the important assumptions is included in the appendix. Overall, we are assuming the forecasted business climate as outlined in the Business Climate Section will remain steady. Additionally, we assume our strategic partner, HelmsBriscoe’s positioning within the industry will continue to grow.

8.2 Key Financial Indicators

GlobeSpan shows, in the Key Financial Indicators chart which follows, three Benchmarks: Sales, Gross Margin, and Operating Expenses. We expect sales to grow steadily over the next three years while our gross margin remains unchanged and our operating expenses only rise slightly over the next three years.

Global event planning business plan, financial plan chart image

8.3 Break-even Analysis

The following chart and table summarizes our monthly break-even analysis, with fixed costs at approximately $10,200 and commission needed at the same to break even.

Global event planning business plan, financial plan chart image

8.4 Projected Profit and Loss

GlobeSpan’s projected income statement is shown in the following table. We show a conservative first year with approximately $120,000 in commissions; however, this grows to over $170,000 in 2002, and over $280,000 in 2003. With relatively low operating expenses, our net profits nearly quadruple in the second year, and almost double in the third. We have offered a detailed monthly outline of income in the appendix.

8.5 Projected Cash Flow

As demonstrated by the Projected Cash Flow Chart below, GlobeSpan’s cash balance is healthy, with our projected cash flow being negative for our first few months and then a slow recovery during the remainder of the year. Our net cash flow for fiscal year 2001 is -($21,600) with our cash balance at $28,000. Significant to note, in year one our long-term borrowing repayment will amount to over $12,800. A detailed monthly cash flow analysis is provided in the appendix.

Global event planning business plan, financial plan chart image

8.6 Projected Balance Sheet

GlobeSpan has planned for success as outlined, this is evident in the projected balance sheet below. Our net worth will be a -($11,800) in year one to almost $127,000 in year three. We have outlined monthly estimates in the appendix.

8.7 Business Ratios

GlobeSpan’s projected business ratios are illustrated in the following chart. It is noteworthy that our net working capital will quadruple by year three and our debt to net worth ratio shrinks to an impressive 0.57 by year three. We look forward to healthy ratios for profitability, risk and return. The final column, Industry Profile, contains ratios based on the personal services industry, as defined by the Standard Industry Classification (SIC) Index code 7299.

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Vodafone Idea share price target: Management upbeat; 3 events to watch out for

Vodafone idea, nuvama said, expects the upgradation capex to be similar to what peers like bharti airtel ltd have done over the last three years..

Amit Mudgill

  • Updated May 08, 2024, 7:24 AM IST

Vodafone Idea is hopeful of some relief from the Supreme Court, on the AGR front, given the contention is on the calculation methodology and some errors by DoT in calculating the liability. 

Nuvama, which recently doubled its share price target on Vodafone Idea Ltd , met with the management of telecom operator. It said the Vodafone Idea management appeared upbeat about the growth prospects following the recent successful follow-on public offer (FPO) and spoke, at length, about how the company got into the stretched financial situation, over the last decade, and how the current FPO and other steps are likely to turn around the business.

Related Articles

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The domestic brokerage said Vodafone Idea needs three events to play out to survive – capital infusion, liabilities waiver and tariff hikes. With the recent capital raise, the telecom operator has achieved one and enabled another.

"We believe VIL is on its way to a ‘going-concern’ now – though still not completely out of woods. We maintain estimates and reiterate ‘HOLD’, with an unchanged target price of Rs 14, valuing it at 11 times FY26 EV/Ebitda," Nuvama said.

Vodafone Idea, Nuvama said, expects the upgradation capex to be similar to what peers like Bharti Airtel Ltd have done over the last three years. It also highlighted that the capex would enable it to provide seamless services to subscribers, where they did not have service before – and upgrade the quality, where the service was inferior to its competitors.

The Vodafone Idea management views tariff hikes as a necessity for the industry, with all players making insignificant RoCEs.

"It expects all three players to take part in tariff hikes – whenever it happens – just like they did in earlier rounds (akin to Dec-19, Dec-21). Along with that, VIL expects to increase its ARPU further by continuously upgrading its subscribers from 2G to 4G – which still form a sizeable part of its subscriber base (42 per cent versus 28 per cent for Bharti)," Nuvama said.

Nuvama said Vodafone Idea is hopeful of some relief from the Supreme Court, on the AGR front, given the contention is on the calculation methodology and some errors by DoT in calculating the liability.

"As the moratorium period provided by the GoI ends in Sep25, VIL shall need to make payments of Rs 29,000 crore/Rs 43,000 crore in Mar-26/Mar-27. The management is hopeful of addressing the same via internal accruals or part conversion to equity for GoI," Nuvama said.

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Inside Business | Maximize health care opportunities and minimize costs | Expert column

YOU MIGHT COMMUNICATE MORE FREQUENTLY WITH YOUR DOCTOR | While you might not be meeting with your doctor physically, telehealth could actually mean you're in more frequent communication with your doctor and the rest of your health team. Patient portals and apps can facilitate more frequent and direct communication between you and your provider through secure messaging. You may be able to pass along messages, images and data to help them diagnose or monitor your condition.

Inflation remains high, affecting health plans and providers. Hospitals seek increases from payers, while workforce shortages compound the issue. To manage costs, employers must focus on preventive care, assess employee health and stay informed about regulations. Employers must think creatively to provide high quality, affordable health care.

I see two key components for our businesses to consider. One is how we can help prevent health care claims and illnesses. Preventive care should be a focus throughout all operations — from providing a safe workplace to assessing and understanding your employee population’s health prior to making important health plan decisions.

We offer our clients an online benefit-compliant assessment that helps them to understand their risk, including Affordable Care Act compliance. The tool we offer allows you to answer benefit compliance assessment questions. Upon evaluation, the system assigns a risk score and provides needed actions to help you comply. This also helps you understand what regulations you are not familiar with for future planning.

Employee awareness of everything from illnesses on the horizon — such as the flu, new forms of COVID and RSV, respiratory syncytial virus — and their own specific conditions such as diabetes, heart disease or others is critical to maintaining costs. Whatever health plan you offer, employees often wait until a surgery or doctor’s visit becomes urgent. An effective online human resources communications platform assists employees with up-to-date information about their specific health plan and ways to gain the most value and reduce HR inquiries by 75% for most companies.

Scott Wells (Courtesy photo)

The second key component that employers should be including in their voluntary offerings is how employees access care.

Though health care costs are rising, the industry is constantly assessing new ways to facilitate care at a lower cost. The pandemic rapidly shifted the location for care from more expensive inpatient hospital settings to less expensive outpatient services or emergency rooms.

Health plans and providers have reported these practices as the path forward. Plans are factoring in higher utilization of less expensive locations for care. You may have already seen recovery from surgeries and treatments involves a quicker return home with an increase in home care services.

Health care isn’t limited to hospitals; your home is a crucial and cost-effective site for care. If your organization doesn’t offer a telehealth plan, consider implementing one soon.

Telehealth has evolved significantly, and choosing the right plan can eliminate claims for employee usage. It saves time, reduces wait times for specialist referrals and eliminates the hassle of multiple visits.

A robust telehealth plan provides on-demand or scheduled visits with U.S. board-certified doctors via phone or video. Members can address episodic health care issues like colds, flu, allergies and bronchitis. Mental health care via telehealth is also trending, allowing ongoing relationships with licensed professionals. Many find it more comfortable to engage with clinicians online.

A good telehealth program has no copays, no insurance billing, offers mobile access with electronic health records and provides 24/7 visits. It’s especially valuable during emergencies, like a child’s fever late at night or when a grandparent living alone experiences a minor fall. Understanding your employees’ needs and focusing on prevention is essential in managing health care costs.

Health care costs today require a joint effort, a collaboration of provision and use. As an employer, knowing the options and needs of your employee population is critical and keeping focus on both prevention through the right tools and options to make costs less painful will be an important focus in 2024.

Scott Wells is a senior vice president with Tower Benefit Consultants. He can be reached at 757-226-8297 or [email protected] .

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DMC Moscow invites you to visit our wonderful country.

Moscow is not only the political, cultural, and business centre of modern Russia, but also one of the oldest Russian cities, with a history that goes back 1000 years and many monuments of original Russian architecture and art. The golden domes of its churches, world-famous museums and theatres, broad avenues with high-rises, and cozy, typically ‘Moscow’ streets with merchants’ houses – all make Moscow one of the most popular tourist destinations. In addition to its unique attractions, Moscow is undoubtedly attractive for its economic and business potential. It possesses a wonderful infrastructure, an extensive choice of hotels, and modern exhibition centres hosting important international exhibitions and congresses. Moscow is one of the most colourful and interesting cities in the world, being equally well suited as a location in which to relax and do business.

 The Moscow region is represented by DMC Moscow , one of the leading Destination Management Companies (DMCs) in Moscow .

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A dynamically developing company with considerable experience of working in this field, DMC Moscow has shown itself to be a responsible partner. Our success is built on our constant striving for perfection and our quest for new ideas and opportunities in this constantly developing and competitive field.

DMC Moscow was set up by professionals. Our main aim in founding our company was to bring together experience, knowledge, creative ideas, and creative management in the MICE industry so as to be able to offer you high-quality service which is focused entirely on the client. Organizing unique business events requires profound and comprehensive knowledge of the region, advanced technologies, a team of experienced professionals, and, of course, responsible suppliers of services. We are proud to be able to call upon reliable and professional partners who provide excellent quality of service at competitive prices. Our extensive network of contacts throughout the region gives you access to experienced and well-qualified specialists.

As a leading DMC, we offer a wide range of destination-management services to participants in and organizers of conferences, seminars, exhibitions, and incentive tours in Moscow and in popular cities in our region, offering all our clients exceptional quality of service. We are keen to share with you our knowledge and experience in organizing events – including events in the most unusual forms. During the course of any event that we organize our employees will be at your complete disposal from the moment you arrive in Moscow to the moment you leave. We will do everything to ensure that your event is organized in complete accordance with your desires and is carried out to the highest professional standard. We will put together the most attractive programme for you while keeping within your budget.

Destination-management services in Moscow:

If you are planning a business meeting, conference, seminar, corporate event, incentive or teambuilding programme, or business tour, we will make sure that your programme is organized with the minimum of fuss or effort on your part. Any event of this kind will require a range of services, which we can easily tailor them to match your desires and budget. With our considerable experience in realizing international projects, we will gladly prepare and conduct your event to the highest standard. We offer the following services:

Venues for all occasions in Moscow: We will organize inspection visits and help you draw up a detailed programme. We will organize bids competitions to find the right service provider and venue for your event. We will help you choose a venue to suit both you and your business event. You will have a choice of modern and comfortable hotel conference rooms, luxurious state rooms in palaces, and much else besides. We will find the option that works best for your business event.

Incentive programmes and teambuilding events in Moscow: Realization of original ideas and incentive programmes – fulfilment of your every desire in order to ensure that you experience nothing but positive emotions and the best of moods. Incentive programmes are devised for specific groups and are tailored to the particular client’s objectives, desires, and budget. We can organize and conduct a broad range of teambuilding events – something which is of fundamental importance in improving team spirit and fostering understanding, trust, and mutual help.

An individual approach to selecting and booking hotels in Moscow: We will help you choose and book hotel rooms in the most convenient locations and at special rates to suit your desires, budget, and the status of your delegates. The hotels with which we work are always situated in locations which are as convenient as possible for getting around the city.

Organization and holding of conferences in Moscow: The success of a dynamically developing business depends on the promotion of the goods and services which the company offers. For this purpose participation in business events is essential; conferences, in particular, are especially important for corporate image and a company’s work with its partners. We will help you organize and conduct events of whatever complexity.

Logistics, transport services, transfers in Moscow:

Transport services are essential to the success of your event. Our work in this area includes coordination of transport services for participants in corporate events, provision of business and executive-class cars, provision of coaches and minibuses, meets at airports and railway stations, group transfers, exclusive transport for evening events, VIP services, and provision of chauffeured cars (for groups of whatever size). We can also place banners and notices on buses and provide special transport for baggage.

Special events in Moscow:

Special events are an effective way to underline the importance of an event. They include opening and closing ceremonies, evening receptions, exclusive concerts and shows, and gala suppers held in the location of the client’s choice (including the most exotic locations). We can take care of catering and musical accompaniment.

Provision of high-class service staff in Moscow:

We can arrange for uniformed guides in your company’s corporate style, professional translators, designers, scriptwriters, directors, and audio-video equipment and IT solutions.

Excursion programmes in Moscow:

An individual approach to organizing events for both groups and VIP guests. We can arrange special out-of-hours visits to museums and pre- and post-conference tours. We will do everything to ensure that nothing distracts you from contemplation of our region’s unique beauty and cultural attractions.

We are confident that an event which has been professionally prepared and conducted to the highest standard will make an unforgettable impression on all involved.

Moscow International Business Centre (MIBC)

The Moscow International Business Centre (MIBC) is an ambitious engineering project in the centre of Moscow. The site is

Estimated Investment

$12 billion

Construction Started

Moscow, Russia

Project Type

Business complex (city within a city)

CITY JSC, Moscow City Government

business plan for events management company

The Moscow International Business Centre (MIBC) is an ambitious engineering project in the centre of Moscow. The site is on an old urban area near the river embankment. The goal of the project is to create a new business district within the city.

The whole complex is to be built on a 100ha site (divided into 30 plots) designated for new development on the Krasnopresnenskaya embankment. The management company for the project is CITY Joint Stock Company (CITY JSC), a company first set up in 1992 as a collaboration between the Russian government and private investors.

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The project was first launched in the early 1990s but has been stalled for much of the last 10 years due to a lack of investment. In 2003 the project started to attract investment again and has been gaining momentum ever since.

PLOT 1: BAGRATION BRIDGE AND TOWER 2000 OFFICE COMPLEX

The first major building constructed in the MIBC project on Plot 1 was the Bagration Bridge (pedestrian bridge) and mall, completed in 1999. The second project was the Tower 2000 office complex, a multi-use business complex begun in 1996 and completed in 2001. The building is 106m high and has 30 storeys above ground and four storeys below. The total floor area of the complex is 60,000m².

The underground area contains parking garages, restaurants, retail areas and a fitness centre. Floors 3–15 and 17–26 are business offices while floors 8 and 27 have a media centre, large exhibition hall and piano bar.

The business areas are served by structured cable network, fibre optic cable, satellite broadcasting, Wi Fi and ADSL Internet access, automatic digital telephone exchange with integration of services, local broadcasting system, municipal broadcasting network, electric timing system, data collection and processing system, audio and video systems, simultaneous interpreting system, conference system, video projection system and security systems including biometric access control and a monitoring system.

The tower also has a central air conditioning system, auxiliary exhaust ventilation system, cooler and heat supply systems, Uninterruptible Power Supply system (UPS), automatic fire security system, automatic volumetric fire-fighting system, sprinkler system and automatic smoke removal system.

The general contractor for the tower was Promstroytechnologia-M Company Ltd. The facade of the tower, which is made of glass and structured concrete, was constructed by Transwall Technology. The tower is equipped with 17 computerised rapid elevators, supplied and installed by Schindler Aufzuege AG, and an outer panoramic elevator, supplied and installed by Kone Lifts. The exterior lighting equipment was supplied and installed by Thorn.

PLOTS 2 AND 3: MOSCOW WEDDING PALACE AND CITY SQUARE

The sites designated by plots 2 and 3 are now to be developed as the Moscow Wedding Palace and City Square. This will include a city square, an underground retail complex and a 14 storey multipurpose complex, which will include the Wedding Palace, banquet halls, restaurants, shops and a hotel.

The developer is Capital City Developments. The architect is Mosproject – 2. The construction started in 2005 and is scheduled to be complete by the end of 2007.

PLOT 4: AQUAPARK

The Aquapark leisure complex was started in 2002 and was completed in 2005. The site occupies a 1.74ha area adjacent to Krasnopresnenskaya embankment. It includes:

  • Complex of swimming pools, water mountains and leisure attractions, restaurants and cafes and retail areas (24,352m²)
  • Five-star, 30-storey hotel complex (54,640m²) built on a six-storey podium containing retail areas, restaurants and nightclubs
  • Parking to accommodate 425 vehicles (13,050m²)
  • The aqua park will be connected with a mooring on the Moscva River

The developer of the complex was Aqua-City Palas Company Ltd. The project required an estimated investment of $230 million. The general contractor was Liard Stroy Ltd and the designers were Mosproekt-2 of Russia and Tkhomesto Engineering of Finland.

PLOTS 6, 7 AND 8: UNDERGROUND MALL AND METRO STATIONS

A large underground complex containing the central core of the MIBC, an underground mall and two metro stations is located on these plots. Construction started in late 2001 on the 5.1ha site and was completed in mid-2004. The complex has a total floor area of 150,000m² and includes:

  • 35,000m² shopping mall
  • 20,000m² multi-purpose performance complex
  • 10,000m² dancing complex
  • 15,500m² sports and leisure complex
  • 30,000m² ‘Wonderful World of Entertainment’ theme park
  • 7,000m² restaurant complex
  • 30,000m² hotel

The complex developer was CITY JSC and the designers were Mosproekt-2. The construction engineers were Bovis Europe and Jones Lang Lassale of the UK.

PLOT 9: CAPITAL CITY PROJECT

This project involves the construction of two connected tower blocks and a dome. The towers will be of 73 and 62 storeys high, with a 16-storey domed building containing an atrium. Connecting the buildings will be a podium building with three storeys above ground and 4–6 below ground.

The lower levels of each tower will be for office space (200,000m²), while the upper levels (above 80m) will be residential and the dome will be used as a retail area. The investment for the project is $250 million.

The developer is Capital Group; the construction engineers are Bouygues Construction and the architects are Erick van Egeraat Associated Architects of Holland. Construction has been underway since 2005 and the project is scheduled for completion in mid-2007.

PLOT 10: NABEREZHNAYA TOWER

This project involves the construction of a new office and apartment complex consisting of three A-Class buildings 16 (86m), 27 (135m) and 52 (250m) storeys high, with a total floor area of 220,000m². The construction began in mid-2003 on the 2.55ha site with the smallest of the three buildings.

The first building was completed in autumn 2004. Enka, a Turkish construction company , is carrying out the development and construction. Enka has invested a total of $150 million so far. Work is continuing on the other two buildings with completion expected in 2007.

PLOTS 11 AND 12: MIXED-USE TOWER BLOCK

The major project on these plots will be a 300m, 75-storey, mixed-use tower block with over 204,000m² of floor space. The facilities will include commercial and government offices, residential areas, retail space, leisure and health centres and a four-star hotel.

Offices will occupy the floors 4–45, while apartments are on floors 48–66. The building was designed as a two-tier skyscraper, 30 floors in the first tier and 37 in the second one. The second floor of the building will be occupied by a casino. The 47th floor will be occupied by a gymnasium.

The designers for the project are Swanke Hayden Connell Architects and the investors are Techinvest, who are investing $270 million. The contractors for the construction are Summa, a Turkish development company. Groundwork was carried out by Kaskatas. Construction on the building started in the third quarter of 2004 with completion scheduled for late 2006.

PLOT 13: FEDERATION OFFICE COMPLEX

The Federatsiya (Federation) office complex is to consist of two towers, one 57 storeys high and the other 87 storeys (345m), and a podium. The 87-storey tower will hold offices and the 57-storey tower will include residential apartments and a hotel. The total floor area of the complex will be 240,000m².

The podium will have three to five levels and 30,000m² of floor space and will contain retail areas, banking facilities, cafes, restaurants and leisure facilities. The complex will have 14 lifts built between the two towers, including four ‘Shuttle’ round-observation lifts.

Stroimontage and NIKoil Financial Group will invest more than $500 million in the project. The architects for the project are P Schweger, S Tchoban and A Asadov of Germany. Stroimontage is the general contractor for the project. Construction started in April 2004 and the complex is scheduled for completion by 2008.

PLOT 15: CITY HALL AND DUMAS

Plots 2 and 3 are owned by the Moscow City Government and original plans were for the new City Hall and Dumas (Parliament) buildings to be located there. However, these buildings will now occupy Plot 15.

The construction on Plot 15 consists of four 70-storey interconnected 308.4m buildings. The project started in November 2005 and will be finished by the end of 2007.

It is expected that all government administration will be accumulated in the new complex to provide better organisation, allowing the buildings currently in use to be sold.

The four skyscrapers will be connected by several two storey bridges between towers and eight storey bridges at the top. The highest bridges will be built in shape of letter ‘M’ for ‘Moscow’.

PLOT 16: RUSSIA TOWER

Plans for a 600m-tall tower to be built in Moscow to designs by British architect Sir Norman Foster were released in March 2006. ST Towers is the developer behind the project and is part of the ST Group.

The Russia Tower will be more than 50% higher than the Empire State Building and is to be built within the Moskva-City development on Plot 16 near the site’s border with the Third Ring Road. It will overshadow the 430m Federation Tower under construction at Moskva-City, which developers say will be the tallest building in Europe when it is completed in 2008.

The 420,000m² tower is a striking design comprising three blade-like structures arranged in a trefoil-like plan around a central core and tapering sharply toward the top, with part of the steel structure exposed on the outside like an exoskeleton.

Described by the architect as a vertical city, the tower is to house parking and retail space on nine underground levels, a public ice rink on the first floor under a spacious, pyramidal atrium, a hotel with serviced apartments above, 24 floors of office, high-end apartments on the top levels and a public observation deck at the very top. The resident population of the tower could be 25,000.

The Russia Tower is billed as an environmentally friendly project, maximizing natural ventilation and lighting, with solar cells, the collection of rainwater and snow to reduce water demand and the recycling of energy between areas with varying levels of demand. In addition, atria several floors high are to be spaced throughout the building’s central core and decorated with plants, providing the luxury apartments on the upper floors with private gardens in the sky.

The construction of the tower is expected to cost about $1.5 billion; of this about $150 million to $200 million would be supplied by ST Towers. Plans for the tower have been approved and it should be finished by about 2010. Construction has not yet started.

PLOT 17 AND 18: MULTI-PURPOSE OFFICE-HOTEL COMPLEX

The multipurpose complex will include two towers (80 and 78 floors), with a common underground space for parking. The high tower will contain office premises and the second tower will be a hotel.

The complex will also contain a roof-top restaurant with a panoramic view, cafes and bars, conference halls and billiard club. The architect is Skidmore, Owinds, and Merrill LLP. No dates have yet been announced.

PLOT 19: NORTHERN TOWERS

An office complex is being developed on this plot by ZAO Severnaya Bashnya. The Northern Towers will consist of three buildings – two 12-storey and one 29-storey. These will contain 135,000m² of floor space.

The architect is Project Institute 2 and the construction engineer is Bau Holding Strabag AG (Austria). Interior design in the building will be carried out by ABD Limited, and legal services with regard to lease documents are provided by PricewaterhouseCoopers.

The first phase of Northern Tower is scheduled for shell and core delivery by the fourth quarter of 2006. The marketing and leasing campaign has already started. Raiffeisenbank has agreed to become the first tenant of the complex.

Northern Tower will feature spectacular atriums, prime office premises and a multi-level parking for 688 cars. There will also be a multi-functional conference hall for up to 200 people, banking premises, restaurants and cafes, a fitness centre with a swimming pool operated by Reebok, a professional dental clinic and a beauty parlour.

POWER PLANT CONSTRUCTION

The power supply for the new MIBC has been a subject of much contention among foreign investors. The complex requires an efficient power distribution system operating at 20kV rather than the more typical 10kV.

CITY JSC and power supplier Mosenergo JSC put forward a proposal in 1999 to the Moscow City Government to develop a new power network for the MIBC, mini-metro, metro junction core, Eurostation and Sheremetyevo-Moscow Rapid Transit System.

The power and heat supply for the MIBC will be provided from three sources: the Mosenergo power station ‘SS-CITY-1’; the district heat and power station ‘Krasnya Prsnya’; and the MIBC power plant on Plot 7A, which entered its first phase of construction in 2002–2003 and is now well into its second phase with completion expected in 2006.

Having established the power supply sources, the next part of the project was the bulk power and distribution network to support the MIBC. Phase 1 of the MIBC power plant has seen the construction of a Gas Turbine Unit (GTU) and Heat and Power Plant (HPP) with a capacity of 50MW and a substation with two transformers for 110V from 20kV and 110V from 10kV and two 63MVA distribution units. The next phase will see an increase of capacity up to 100MW.

The developers of the power plant are CITY JSC and CITY-ENERGO Company Ltd. The contractors for the project are Liard-Stroy Ltd and the designers of the plant were Mosproekt-2 and VNIPI Energoprom.

TRANSPORTATION CONSTRUCTION

The Moscow–Sheremetyevo line is the first phase of the RTS to connect the three satellite airports to the centre of Moscow. This first line, 34.3km in length, will provide interconnectivity between the airport, regional centres and urban junctions and also interconnect with the existing municipal transport system. The project was started in 2001 and eight stations were planned. This stage is now complete.

The developer for the RTS is CITY JSC in collaboration with the City of Moscow; the designer is SNC Lavalin of Canada. The Phase 2 section of the project to extend the line to cover Vnukovo Airport was started in 2004 and is now nearing completion (scheduled to open in 2007).

The RTS development not only concerns rail links to the new commerical centre of Moscow but it is also a development in its own right. The Plot 11 development will include the construction of the new Moscow transport terminal uniting the RTS, three lines of the underground and the intercity bus terminal.

The complex will include transport stations with waiting rooms, boarding areas for VIPs, a hall of customs inspection, left-luggage offices, a 342 room hotel and ticket offices.

For this section of the development Citer Invest B.V. of the Netherlands is the developer, Behnish and Behnish Architekten of Germany are the architects. The investment is $200 million and construction is underway with an expected completion in 2007.

MINI-METRO LINE

A mini-metro line was also constructed to provide transportation within the MIBC and to connect with the historical centre of Moscow. There are three stations, one constructed in Phase 1 of the project and two in Phase 2. The three stations are Dorogomilovskaya, International and Moscow – City.

The length of the line is 5.85km. The engineering and transport contractors were Metrogiprotrans JSC. The line along with the International and Moscow – City stations came into operation in September 2005.

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COMMENTS

  1. Event Planning Company Business Plan (2024)

    Emily's Event Planning. Established in 2017, Emily's Event Planning is now a well-known event planner in the Des Moines, Iowa area. The company provides event planning services for large corporate events, weddings, and birthday parties. Emily's Event Planning is most well-known for its picturesque venue choices.

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  23. Moscow International Business Center

    The Moscow International Business Center (MIBC), also known as Moscow-City, is a commercial development in Moscow, the capital of Russia.The project occupies an area of 60 hectares, and is located just east of the Third Ring Road at the western edge of the Presnensky District in the Central Administrative Okrug.Construction of the MIBC takes place on the Presnenskaya Embankment of the Moskva ...

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