Event Planning Business Plan Template [Updated 2023]
Event Planning Business Plan Template
If you want to start an Event Planning business or expand your current Event Planning or Event Management business, you need a business plan.
The following Event Planning business plan template gives you the key elements to include in a winning event planner business plan or event management business plan.
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
Below are links to each of the key sections of a free Event Planning business plan template:
Event Business Plan Template I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
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Event Planning Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
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Event Planning Business Plan
Creativity and organization are a formidable combination. And not many of us have it. And to top it off, having good social skills, and the ability to fix problems that usually occur in every event, big or small.
If you have these skills you are a gifted individual indeed and might have thought of having an event-planning business at least once.’
But even after having the right skills many of us find the prospect of owning a business overwhelming at the very least. But worry no more! Before you start planning the most happening events in the town, all you need is an event planning business plan .
The event planning industry stood at a market value of 3.03 billion dollars in 2021 in the US and is going through a period of rapid recovery after being hit by the COVID-19 pandemic.
Theme parties, lesser time to organize and plan for events as well as the demand for professional services have been major growth-driving factors for the event planning industry.
Event planners also help make events smoother, more memorable, and out of the box. And with the increasing want to stand out in everything you do is going to help the event planning industry flourish for years to come.
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Things to Consider Before Writing an Event Planning Business Plan
Get skills and experience.
Although starting a business is an exciting prospect as it gives you freedom it also comes with a lot of responsibilities. Hence, you should go prepared with event planning skills and experience before getting started.
Develop your communication skills
Bad communication in event management is a recipe for disaster. Develop your communication and listening skills. It goes way beyond talking. You have to explain to and understand your team and clients correctly to do a good job and get good results.
Find a market for your services
Knowing your market saves you from wasting your resources, efforts, and time on mass marketing. Hence, before you decide on your niche, make a marketing plan and get started, find a market for your services.
Have a good team
How can an event planning business plan help you.
We all know that an event planning company’s success depends highly upon an organization. Be it while planning events or while carrying out other activities like budgeting and marketing.
A business plan can help you achieve just that. It can improve your efficiency, give you well-defined goals to follow, and improve your overall management.
Apart from that, planning your business gives you a good knowledge of the market structure and functioning.
Also, planning your business in its initial stages takes the tedious tasks of running a business out of the way, and lets you focus on what you are passionate about.
How to Write an Event Planning Business Plan?
This segment brings us to the main point of this article. How can you, as an event planner, write a business plan ? And what to include in a good event planning business plan?
Well, you can either seek professional help for writing a business plan, write it through a premade template, or through an online business plan software .
We have created this sample Eventel – Event Planning Business Plan template for you to get a good idea about how a perfect event planning business plan should look like and what details you will need to include in your stunning business plan.
Chalking out Your Business Plan
If you’ve organized a few events in the past and feel that organizing is your forte, and you can come up with ideas that are both creative and functional, event planning might be the right career for you.
And although most people start out by working under someone, everyone dreams of owning an event planning company. Also if you are about to go ahead and start yours, wait a moment.
Because although you might have sufficient knowledge for planning events, you need one more thing to turn it into a business. A business plan.
Yes, you read it right. A business plan can be of great help while starting your event planning business. It can take your business to lengths and depths, and solve all of your business problems.
Before we understand how you can write your event planning business plan, let’s understand the importance of the business plan .
Event Planning Business Plan Outline
This is the standard event planning business plan outline, which will cover all important sections that you should include in your business plan.
- Business Overview
- Keys to Success
- Net Income & Gross Margin
- About Business
- Business Ownership
- Startup Expense
- Startup Assets
- Office Design
- Step-by-Step Guides
- Event Planning Software
- Resources Manual
- Event Planners Training Institute
- Competitive Comparison
- Private Organizations and Businesses
- Public Organizations
- Age Breakdowns
- Customer Segmentation
- Target Market Segment Strategy
- Hotels and Conference Centers
- Other Event Planners
- Employees or Persons wishing to do it themselves
- Marketing and Competition
- Private and Public Organizations
- Management Summary
- Organizational Structure
- Personnel Plan
- Financial Plan
- General Assumptions
- Break-even Analysis
- Income Statement (5-Year Projections)
- Balance Sheet (5-Year Projections)
- Cash Flow Statement (5-Year Projections)
An event planning business plan consists of several key aspects. You can include the following sections to write a business plan that works:
1. Executive Summary
This is the first and foremost section of your business plan. It consists of a clear and precise summary of all your business stands for.
It is mainly written for summing up your business idea and for acquiring funding.
For example, as an event management company, you can include your business idea, a summary of your past projects, your marketing strategy, and your financial history.
2. Products and services
In this product and services section, you can include details about your services. Write down everything from your target market to the solutions your services offer and the market gap it fulfills.
For example, as an event management company, you can note the size and type of events you cater to. Also, about the variety of services you offer.
3. Market Analysis
The market analysis section will include everything you know and can find about the market you are trying to get into.
Write down everything from market trends, segmentation, and ways of reaching out to your customers to everything about your competitors like competitive analysis, your USP, etc.
For example, you can note down the strategies your direct and indirect competitors are using, branding strategies like customer reviews and website plans, etc.
4. Management and operational structure
In this segment, you can include everything about your team. And also about your daily business activities and long-term goals.
Planning this aspect removes chaos and hassles from your firm’s functioning.
For example, you can include who is responsible for onboarding clients, who are responsible for overlooking the preparations of the event, who is responsible for budgeting, and who is responsible for marketing in the first half of this section.
You can include a progress tracking system as well as an operational strategy and milestones in the second half of this section.
5. Financial Plan
A financial plan is very important for any organization or firm. Planning your finances in the initial stages can save you from a lot of struggles later on. A financial plan includes the past and the present state of your finances. Also, include the projected cash flow and profits.
For example, you can include the expenses you would incur while starting your firm and organizing your first event. And the sources you have for funding are the same.
You can also include the profit forecast as well as what amount of profits your company needs to make to survive and thrive in the market.
Download a sample event planning business plan
Need help writing your business plan from scratch? Here you go; download our free event planning business plan pdf to start.
It’s a modern business plan template specifically designed for your event planning business. Use the example business plan as a guide for writing your own.
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Event Planning Business Plan Summary
In conclusion, an event planning business can thrive if you work according to a proper business plan.
Also, a well-written plan would take care of everything, ranging from the daily activities of your firm to its finances. Hence, you can channel all of your energies toward your passion.
It is crucial for an event management company to be well managed internally, for it to manage all of its events well.
So, go ahead and plan all the events you want to, but before that don’t forget to write your business plan.
After getting started with Upmetrics , you can copy this sample event planning business plan template into your business plan and modify the required information and download your event planning business plan pdf or doc file.
It’s the fastest and easiest way to start writing your business plan.
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About the Author
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 Company Business Plan
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.
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.
The following are the event planning products and services that Special Occasions Event Planning will provide:
- Venue Sourcing
- Tables & Chairs
- Dinnerware & Utensils
- Caterer Coordination
- Party Favors
- Set-up/Clean up
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.
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.
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.
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.
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
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.
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:
Special Occasions will primarily target the following customer profiles:
- Individuals with disposable income
- Families with children and disposable income
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.
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.
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.
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.
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.
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.
The following will be the operations plan for Special Occasions Event Planning.
- 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.
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.
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
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
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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Event Planning Business Plan Template
Written by Dave Lavinsky
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 a 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
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:
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.
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.
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.
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.
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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.
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
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.
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.
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
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.
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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.
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.
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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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.
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.
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How to Write an Event Business Plan: A Complete Guide
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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about the author
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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Event Venue Business Plan Template
Used 4,872 times
Launch and grow your event venue with our customizable business plan template.
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Address: [Sender.StreetAddress] [Sender.City] [Sender.State] [Sender.PostalCode]
[Sender.Company] has a vision of (Vision.Statement) and our mission statement to achieve that vision is (Mission.Statement). Our company will focus on developing the event venue with the following details:
Financial Status: (Financial.Description)
Our Future Plans: (FuturePlans.Description)
[Sender.Company] is uniquely qualified to deliver a successful event venue business due to the following reasons:
[Sender.Company] is an event venue with (Number) halls and (Number) meeting spaces on the property. It is located near (Location), close to the city center, and strategically located to provide access to any other establishments clients require. Each venue is maintained to a high standard and contains the latest computer technology for meetings.
Clients can access a beautiful event venue ideal for special occasions such as weddings, birthday parties, anniversaries, and more. However, the meeting rooms are also adequately equipped to deliver an excellent venue for conferences, business meetings, and more.
[Sender.Company] is a brand focused on (Company.Focus). Our event venue will reflect that focus with a modern and high-class design. On the property, there will be the following venues:
We will add an example of what you should list for the venues here, but be sure to swap it out with your particular venues.
Small party venue – Closed, inside space – Holds 40 to 50 people – $(Hire.Amount)
Three ballrooms – Inside room with outside doors – Holds a maximum of 300 people – $(Hire.Amount)
(Number) (Venue.Type) – (Short.Description) that can hold (Number) people – $(Hire.Amount)
[Sender.Company] will offer clients a mix of event packages besides the flat rate to rent each venue hall.
The event venue industry depends on the per capita income of households willing to spend money on events. However, it also links to the business market and conferences held in the area. As such, [Sender.Company] researched the current market and identified a niche we can fill: (Niche.Description).
Further, we found some statistics on the market that bode well for our event venue business plan:
The primary competitor in the area is (Primary.Competitor), as this brand specializes in all event types and has a similarly sized property. Its strengths are (Strengths), while we have identified the following weaknesses:
Other competitors to consider are (Secondary.Competitor) and (Tertiary.Competitor). The market segments into (Market.Segment).
Further, the competitor pricing in the current industry is:
We have identified several ways in which [Sender.Company] gains an edge over these competitors:
Once you have shown the competition, you must show how you will approach your entry into the market. You have to show that you have the edge over the competitors and what sets your venue apart.
[Sender.Company] will serve the residents of (Location) but also market in surrounding areas of (Location), (Location), and (Location). This marketing will give us a vast customer base, especially as many travel for events and conferences. The demographics of the immediate area around the event are as follows:
This location also has several establishments of interest, which benefits the event venue. Clients of interest are:
Suppliers of interest are:
[Sender.Company] has the following unique value propositions that make it the best choice in the area:
[Sender.Company] will implement an encompassing market strategy to reach the target audience using the following methods:
Ongoing Customer Communications
The significant functions [Sender.Company] must fill to execute this business model:
Administrative and general tasks like legal, bookkeeping, marketing, and more
Sourcing and storing equipment
Hiring and training staff
Corporate sales to groups and individuals
Janitor and maintenance personnel to keep the venue in top shape
We will reach these milestones in the next (Period):
Management and Staff Hiring
[Sender.Company] will look into hiring employees for the following positions by the (Date):
(Number) Service Staff (If you provide your own catering)
(Number) Chefs (If you provide your own catering)
(Number) Sales staff
[Sender.Company] requires an initial capital of $(Amount) to start this business venture, which we break down below:
The expected Annual Income: (5YearAnnualIncome.Statement)
The expected Profit and Loss Statement: (5YearProfitLoss.Statement)
The expected Annual Balance Sheet: (5YearAnnualBalance.Sheet)
The expected Annual Cash Flow: (5YearAnnual.CashFlow)
The Break-Even Analysis: (BreakEven.Analysis)
Both parties understand and agree that their signature below signifies their agreement to all the terms and information outlined in this event venue business plan.
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