how to open your own event planning business

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How to Start an Event Planning Business: Your Comprehensive Guide Not sure how to become an event planner? Use this step-by-step guide to launch your event planning business from scratch.

By Laura Tiffany Edited by Brittany Robins May 21, 2024

Key Takeaways

• Event planning can be a great business if you have the right skills.
• People need help executing personal and professional events of all sizes.
• Based on how you structure your business, your startup costs will vary.

Opinions expressed by Entrepreneur contributors are their own.

Some people have a special ability to plan parties — whether they be weddings, large corporate events or smaller gatherings. If you have a knack for tackling complex problems and making big days run smoothly, you might have a future as a professional event planner. Whether you choose to work alone or with a team, starting an event planning service is no small task. Here are some important questions to consider before launching an event planning business, and a step-by-step guide to starting and scaling your business.

Related: Find Your Event-Planning Niche

What is an event planning business?

Event planning is the art and science of ideation, planning, coordination and operation. When a major event needs to run smoothly — whether it's a trade show, nonprofit gala or a major anniversary — people will enlist an event planning service or coordinator. Event planners are key service providers who ensure event production and execution goes off without a hitch , most often used for purposes like:

• Corporate events, like after-work cocktail hours and galas.
• Educational conventions, like graduations or conferences.
• Major promotional events including product launches and fashion shows.
• Celebrations and social events including parades, weddings, birthdays and reunions.

The primary duties of full-time or part-time on-site event planners include:

• Researching venues and vendors prior to the event.
• Selecting the appropriate site for the event.
• Event design and team-building for project management.
• Creating budgets and running fundraisers if necessary.
• Coordinating decor, entertainment and food for the event.
• Sending invitations to attendees.
• Coordinating transportation for attendees to and from the event.
• Arranging accommodations, including seating charts and place settings.
• Coordinating tasks for onsite event personnel, including caterers or entertainers.
• Being on call for any questions or problems that arise in the event-planning process.
• Supervising activities at the event site.

Why do people hire event planning services?

People primarily hire event planning services for two reasons: So that hosts and guests don't have to focus on the inner workings of the event, and so that the event runs smoothly from beginning to end.

Consider a wedding. Many engaged couples hire event planners or event planning services to coordinate, organize and carry out their wedding plans. This helps the couple enjoy their special day and gives them the freedom to focus on getting married rather than worrying about details like catering, parking or the timeline.

Some events are so complex — particularly those with hundreds of guests or more — that it's almost impossible to properly plan and organize them without the help of a specialist. Knowledgeable, experienced event planners know how to organize groups of people, how much food to provide and other details that can make or break an important event.

Related: The Price Is Right: Turning a Profit in the Event Planning Business

Who should become an event planner?

You might consider becoming an event planner if you're organized, love hosting parties and find the challenge of coordinating large events to be thrilling. Planners handle many moving parts at once, some of which require overseeing chaotic work and competing agendas. Event planners also often work weekends and holidays since these are the days when most people schedule events.

Many event planners have backgrounds as managers or coordinators in other industries. The events industry, both for wedding planning and other events, requires excellent communication skills. Obtaining a bachelor's degree in public relations , marketing or related fields can be helpful but is not required. You should also consider acquiring certification for your event planning service, as it can help you cultivate relevant professional skills and attract more job opportunities. Meeting Professionals International (MPI) offers a list of degrees and certificates from various colleges and universities.

You can also become a Certified Special Events Professional or Certified Meeting Planner , both of which are offered by the MPI or the International Live Events Association (ILEA). By earning these certifications , potential clients will know you have the training and experience necessary to take on a complex event.

How to start an event planning business

Step 1: form your company.

To get your event planning business off the ground, you must first form a company, file the right paperwork and create a business plan — which should include the following details:

• The business's name.
• The business's tax structure (Sole proprietorship, LLC, S corp etc.).
• What services you'll provide.
• Market research .
• A management plan.
• Financial factors, including how you'll turn a profit.

Related: Check out these business plan templates to get started.

You'll also want to apply for an employer identification number (EIN), which is essentially a social security number for your business assigned to you by the Internal Revenue Service (IRS). This will allow you to operate your business independently of your personal affairs, help you hire employees and make it easier to file taxes quarterly.

Step 2: Choose your target market

Building on the research you performed to create your business plan, it's essential to find the right market for your services. For instance, if you want to primarily work with weddings, you need to determine how many other planners are in your area, how much you should charge for your services and what offerings you'll need to be competitive.

By doing enough research ahead of time, you'll know exactly what kind of clients to target and what their expectations will be. This will help you advertise your event planning service to be competitive relative to other local planners.

Step 3: Make a financial plan

When you start an event planning business, you'll have to consider not only startup costs but also how the enterprise will grow and how many clients you'll need in order to be profitable. For instance, working from home and primarily by yourself will keep costs low. But if you hire employees, rent office space, or expand to new markets, your monthly expenses will significantly increase – all of these things can add up.

You can always scale your business after acquiring steady work. You may start off as a one-person event planning service that only takes on small events. As you earn money from successful jobs, you can hire employees and rent a warehouse for your equipment, like cameras, chairs and more. You don't have to have all of the growth questions answered when you launch your business, but you should at least have them in mind.

Step 4: Understand the work involved and consider hiring employees

For your event planning service to be successful , you need to fully grasp the nature of each job and determine if — or when — it's time to hire employees. This will vary event to event, so you'll need to determine how much work each event will require. Even the smallest event demands careful attention to detail and advance planning, but as you acquire experience you'll become more adept at forecasting how much help you'll need, if any. For instance, you might hire two or three people to be on-site for a specific event, just to make sure things run smoothly.

Related: The Event Planning Recipe for Success

Step 5: Settle on a price structure and fee basis

How you price your event planning offerings will impact how much business you attract. You can determine your pricing structure and fee basis by things like:

• The market segment you serve: For instance, nonprofit events may have different fee structures than weddings or corporate events. By understanding your event type, you'll know how much to charge and how to structure your fees.
• Your location: If you live in a place with a higher cost of living or a competitive events market, you'll need to price your services accordingly.
• Your reputation: As your business gains a reputation for success — and especially if you're so busy clients are competing for your services — you'll be able to charge a higher premium.

Step 6: Start marketing your event planning service

Once you know how much to charge your clients, it's time to start marketing your event planning service. Consider using tools like Google ads, social media profiles and other digital marketing efforts like email to get the word out about your business. You may even consider newspaper ads, flyers in public buildings or other traditional low-cost marketing tactics . As your business grows, so too will your reputation, meaning you'll likely have to spend less on marketing once you're known. Before you get there, though, it's important to dedicate significant time and resources to marketing your services (learn more here about the tools and strategies that should be part of creating your marketing plan).

Related: 8 Savvy Ways to Promote Your Event Planning Business

Costs of starting an event planning business

The costs of launching your business will vary greatly based on where you live, what kind of clients you work with and how large you intend to scale your operation. At a minimum, you'll need to pay fees to incorporate your business , purchase basic technology like a computer, buy business insurance and spend money advertising. But there are many other potential costs, including certification programs, hiring additional employees , renting office space and more. Here's a breakdown of common expenses associated with event planning, as well as a range of what it might take to get your enterprise off the ground.

Consider Startup Costs

As with any business, the startup costs for event planning vary by the region, the size of your operation and the type of clients you attract. Below are estimates that will help you determine what you can expect to spend in your first year.

*All figures are estimates and subject to change based on factors including location, business size and clientele.

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How to Start an Event Planning Business: The Ultimate Guide

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. 

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. 

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 event planning 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. 

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. 

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 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 in 8 steps

In 2020, the COVID-19 crisis changed everything for event planners. Whether the industry thinks of 2020 as a deviation or devastation strongly depends on how planning professionals adapt to uncertainty. One thing's for sure, virtual and hybrid meetings are here to stay, with the virtual market at $94 billion in 2020 and an expected compound annual growth rate of 23.7% between now and 2028 .

With all the change in the air, enterprising event entrepreneurs build social connections no matter the distance. So read on to avoid being amongst the 50% of all small businesses that fail in the first 5 years—and, more importantly, to give your new event planning venture the right start.

1) Evaluate your event planning skillset

It's common for event planning newbies to believe the business is all about showmanship, champagne, and shindigs. While that's the final product of your meticulous preparation, things behind the scenes are much less spectacular. There are a hundred to-dos that the planning professional must check off for every event to guarantee an enjoyable time for the client and guests.

Amongst other tasks, you may have to:

• Create an event theme or design.
• Find a venue.
• Arrange entertainment.
• Book vendors.
• Send RSVPs and marketing info to attendees.
• Balance the budget.
• Coordinate with staff and subcontractors.
• Decorate the space.
• Oversee the caterers and bar staff.
• Supervise the event.

If you want to start an event planning company, it might be smart to test out a job or three before making the dive. To begin, think about signing up as a personal assistant or apprentice for an experienced party planner. That way, you can evaluate whether the work is a suitable match before venturing out on your own.

Or you can look below for traits you already possess or ones you're willing to pick up as you go.

• Attention to detail. Planning events requires diligence with finances, logistics, and time management.
• Customer service. Event planners must contact their clients often. Thus, excellent customer service may help build the planner's reputation and improve client satisfaction.
• Education or experience. Knowledge of best practices and prior event planning experience help. A party planner may have also attended college or earned a certification.
• Interpersonal relationship skills. During a single event, an event planner will need to engage various people, many of whom will not be the planner's staff. Therefore, it's critical to form solid interpersonal connections and work effectively with a wide range of personalities. An event planner is the ultimate "people person."
• Negotiation. Event planners negotiate with suppliers, entertainers, and contractors to reduce expenses while ensuring the client receives what they want.
• Organization. Every event has many moving components that planning professionals must manage, and good organization is essential throughout the process to guarantee that nothing is missed or neglected.
• Under-pressure performance. Even with the finest preparation, unforeseen problems will arise during an event. Event planners must create solutions to issues fast and always think on their festive feet.

Create your event planning business plan

"Whatever you do, do it well. Do it so well that when people see you do it, they will want to come back and see you do it again, and they will want to bring others and show them how well you do what you do."

Those words are from the man who has created more magical experiences than anyone else. Walt Disney's quote sounds like inviting people to your party, and his wisdom is perfect for those who make a living by bringing folks together. But before you can show the world how well you do what you do, consider the following questions when starting your business :

• Executive Summary: How would you describe the business and your potential success?
• Overview: What's the business's background, legal structure, and other key attributes?
• Industry Analysis: What does market research reveal about the event planning industry in your area, including size, opportunity, and current trends?
• Competitive Analysis: Who are your competitors, and what are their strengths and weaknesses?
• Marketing: What is your marketing strategy to reach potential customers?
• Management: What unique skills do you bring to the business?
• Operations Plan: How will you manage the day-to-day tasks of the business?
• Financials: What are your estimated revenues, expenses, and profits for each of your first 5 years?

2) Find your event planning niche

Finding a niche is as simple as picking a subset of the broader event planning industry to concentrate on or specialize in. A niche allows you to shine in an overcrowded marketplace and helps your target market track you down. Saying yes to the wrong client is saying no to Mr. or Mrs. Right. So, find the niche that matches your expertise and focus.

Take a look below for common niches and types of events.

Corporate Events

• Award ceremonies
• Charity and non-profit events (such as fundraising events)
• Conferences
• Corporate bonding retreats
• Corporate meetings and seminars
• Fashion shows
• Golf events
• Grand Openings
• Experiential events (such as pop-ups and product or service launches)
• Holiday parties
• Networking events
• Trade shows

Private/Social Events

• Anniversaries
• Baby showers
• Bachelor/bachelorette parties
• Bridal/wedding showers
• Milestone birthday parties
• Murder-mystery parties
• Theme parties
• Surprise parties
• Wedding planning

3) Uncover your event planning unique selling proposition (USP)

Your unique selling proposition expresses what distinguishes you from every other event planner. According to top business thought leaders, in a world where clients are drowning in options and competition is fierce, 90% of a small pie is preferable to 10% of a large pie. So, for example, an enterprising event planner might create the USP, "Grand Opening Specialist for Luxury Retailers."

4) Pick your event planning business name

Are you ready for some fun? Business ideas move to the realm of reality as soon as a company has a name. Pick a name that blends your niche, USP, and expertise as an event planner. Perhaps it's as simple as Grand Openings Event Planning Company or as whimsical as Lux Influx Events. Try a business name generator , research competitors, or brainstorm with friends and family.

5) Figure out your financial plan

According to event planning tech company EventForte, profit margins in the industry can go as high as a healthy 40% . But don't rush off to the bank quite yet. To earn top dollar, you have to get those financial duckies in a row. So, if numbers are not your cup of event planning tea, you can always rely on a bookkeeper, software, or your favorite accountant. Then, when you're ready, you need to crunch your upfront costs and set up your pricing.

Calculate your startup costs

If you're starting as a side hustle, you'll need little more than a home office, computer, phone, website, some marketing materials, and event management software. It's common for people to get started for less than four or five thousand bucks. Furthermore, Entrepreneur.com estimates between $8,000 and $31,000, with the lower end for home-based business and the more expensive side for the type of business that launches with an office space and a few employees.

Structure your pricing strategy

How should you charge for your planning services? Your location, expertise, niche, and competition will help you set your fees. Below you'll find the five most prevalent ways of pricing event planning.

• Hourly rate. A typical hourly fee for a novice event planner may be as low as $25 per hour and over $100 per hour for top event planners. Usually, a corporate event generates approximately 30% higher rates than social events.
• Flat fee. A flat fee makes it straightforward for you and the client and is probably the most common arrangement. It is customary to charge a price for your services and a percentage of total vendor fees. A typical vendor commission runs from 10 to 15%. For instance, if a caterer's fee is $4,000 for an event, your cut for finding and arranging that specific vendor would be $400-$600.
• Percentage of the event. Some event planners choose to charge a portion of the entire event budget, such as 15 to 20%.
• Day-of coordination. At some point, a client will ask you for day-of coordination. This fee structure is most common for wedding planners, but it may also occur at other types of events.
• Vendor commission. A small percentage of planners opt to either drastically reduce their fees or charge nothing for their services, earning all their money via commissions from the vendors they choose.

6) Get your paperwork in order

It's just a few hurdles to jump, and you're racing toward the finish line.

a) Register your business name with the state

Before you find your first clients, you need to register your business entity with state and local authorities. Also, you'll need to pick a type of business structure such as sole proprietorship, limited liability company (LLC), or corporation.

b) Apply for your EIN

Your employer identification number (EIN) identifies your business for taxes. Surprisingly, getting one is both free and easy. Get your EIN here .

c) Open a business bank account

Once you have your EIN, you can open a business checking account, apply for a loan, and separate your personal and business finances.

d) Obtain permits and licenses

This step separates the planners from the pretenders, but it's well worth the hustle to protect your reputation and potential clients. Your state will likely require several permits and licenses for your business and events. Standard ones include:

• Building permit (tents). You need one for carnivals, political demonstrations, pop-up performing arts, races, and many other outdoor events that require tents.
• Business license. Almost all businesses require licensing with the state to operate.
• Event permit. The requirements vary by city, so contact the local government for relevant ordinances.
• Fire/fireworks permit. You must check with your county if it's legal to display fireworks for your event.
• Health permit. You can get this from your county's health department.
• Liquor license , if applicable. You'll have to get this if you're planning to serve alcoholic beverages, and you can check the Alcoholic Beverage Control board for your state's specifics.
• Noise permit. If your event's outside, you'll likely need one.
• Seller's permit. You may need this as an event planner.
• Temporary use/structure permit. There are two kinds of temporary use permits. One is for vacant land, and the other is for temporary space for parking, vendors, and loading areas.

e) Insure your event planning business

Some first-time event planners forget about insurance until it's too late. When you're dealing with the public, there's always the potential for the unexpected. Every event planner needs solid small business insurance —that's why it's essential to shop around to lock in the best deal. Check out this overview of important coverages you may need to insure your event planning business :

• Workers' compensation : This coverage protects your employees if they get sick or injured while working in your event planning business. Every state requires workers' comp, and the consequences of skipping this coverage could cause the state to close your business. (You can get a quick estimate on what you'd pay for workers' comp with our 60-second workers' compensation calculator. )
• General liability insurance : This policy protects your event planning business if you're sued for a property damage or injury claim. (Expensive lawsuits can quickly put an event planning service out of business.)
• Property insurance : This policy protects your event planning equipment, such as your laptop or other devices you use in your business or home office from perils like fire or theft.
• Business interruption : This coverage, also called business income insurance, provides financial support to your event planning business if you must close because of a covered reason.
• Business Owner's Policy: This policy bundles general liability, business property, and business interruption insurance for your event planning business in one convenient package.

7) Hire your first employees

Many event planners launch as solopreneurs, but they soon look for a personal assistant. Or perhaps you want to hire a junior planner, salesperson, or office manager. Of course, you'll need workers' compensation insurance to operate legally whenever you add that first team member. After finishing your paperwork and legal requirements, head over to the Small Business Administration for a helpful checklist.

8) Spread the word about your new event planning business

Event planners are marketers at heart. After all, who's better at promotion than party planners? Now, you can parlay some of that creativity to advertise your new business. When building your marketing strategy to attract new clients, you could:

• Build a website . Get the domain name for your business. A service with templates like Weebly or Squarespace can make this easy.
• List your local business on Google and Yelp. Sign up for your Google My Business and Yelp profile.
• Launch your social media profiles. Get your unique Facebook, Twitter, LinkedIn, Instagram, Pinterest, and other handles relevant to your niche.
• Distribute brochures, flyers, and business cards. Call it old-fashioned, but it still works, and you might get your foot in the door with new clients.
• Create word-of-mouth. Small Business owners know there's nothing better than word-of-mouth advertising, and the best way to get it is to please clients with a service they can rave about. Ask happy clients and customers for video testimonials that you can post on your website and social media accounts.
• Partner with related businesses. Businesses such as caterers, florists, and photographers can be excellent referral sources.

Bonus: Check out these tips for running a successful event planning business

You're just about ready to start your own event planning business, so it's time to break out the bubbly. But before you pop the top, perhaps you're still thirsty for more best practices. Here are a few places with knowledge you can sip on:

• Event Manager Blog : A great online library of articles, webinars, and videos covering every facet of the event planning industry.
• Meeting Professional International (MPI): "Meeting Professionals International is the largest meeting and event industry association worldwide. The organization provides innovative and relevant education, networking opportunities, and business exchanges, and acts as a prominent voice for the promotion and growth of the industry."
• #EventIcons Podcast : The hosts interview event-industry luminaries and up-and-comers, and the topics span from the everyday to the unexpected. The show has a friendly atmosphere and is a wealth of information for both beginners and seasoned experts. If you want to watch, #EventIcons is also accessible in recorded video format.

This article's been a lot to absorb. Maybe you're pondering just how to stay sane as an event planning entrepreneur .

If you're still crazy enough to start a party planning business, you can get insurance with Huckleberry in about the same time it takes to make your favorite caterer's samples disappear. (Getting a quote is free, easy, and 100% online.)

Buy business insurance online in less than 5 minutes.

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The content of this page is for general informational purposes only. It should not be relied on as legal, tax, insurance, financial, or other professional advice and is not guaranteed to be accurate, complete, current, reliable, or error-free. See the Terms of Service for further information about this website.

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How to Start an Event Planning Business in (2024): Step-by-Step Guide

Free How to Write an Event Planning Business Plan + Free Template Template

The joy of making special days and big events even more special for the attendees seems exciting right? This is what event planners exactly do.

Whether it’s birthday celebrations, weddings, anniversaries, or corporate galas, the demand for expert event planners is soaring.

Starting an event planning business can be a great move because initially it needs a small investment, and you can make good money out of it.

It is a profitable venture but if are you confused about how to start an event planning business , then let us understand it through this guide.

Get to know the basics of event planning

Before you start getting into the process of starting an event planning business, you should know the basics of event planning, like what would be your responsibilities, what kind of events are there, etc.

So let’s get started:

Event Planning is most often used for purposes like

• Social Events: Weddings, birthdays, anniversaries, reunions, etc
• Corporate Events: Seminars, workshops,  conferences, product launches, award ceremonies, gala dinners, etc.
• Cultural and Art Events: Art cultural celebrations, exhibitions, music festivals, etc

Key responsibilities of an Event Planner include

• First of all, consult with your client properly before the event to understand their needs, objectives, and preferences.
• You need to build a team as per the event type, whether it is a corporate or social event.
• Prepare a budget to ensure that the event’s overall costs stay within the financial constraints of the customer.
• Choose a venue that aligns with the event’s size, and theme.
• Oversee the various vendors including florists, caterers, and photographers ensuring that they are all synchronized with the timeline.

After having a glimpse of the basics of event planning business, let’s see what is required next to start your business journey.

Quick Steps to Start an Event Planning Business

• Conduct Industry and Market Research
• Identify Your Event Planning Niche
• Prepare an Event Planning Business Plan
• Consider Startup and Operations Costs
• Paperwork and Legal Registration
• Figure Out Pricing Strategy
• Get Licenses, Permits, and Insurance
• Build a Core Team
• Marketing to Spread the Word

1. Conduct Industry and Market Research

All businesses have competition – that’s what keeps the market in balance.So it is necessary to conduct thorough research of the market to identify your competitors and the current trends.

Moreover, it also helps you understand your target customers, identify market needs, develop marketing strategies, and maintain a competitive edge.

At the primary stage of your research, you may conduct surveys to learn more about your potential clients and their problems.

Now gather information for the secondary research from online resources and industry reports. Compiling and analyzing this data with your primary research will help you highlight the areas that need attention.

Besides identifying your target market, market research is instrumental in strategic planning for the future of your business. It also helps you discover effective growth strategies by setting the targets for your business and making you aware of your competitors.

2. Identify Your Event Planning Niche

Are you aware that knowing a “niche” is a must in the Event Planning Company? A niche is a segment of the market that an event planner focuses on serving.

Identifying your niche involves determining a specific area or target audience within the broader event industry where you can focus and distinguish your services. This allows you to delve into a specific client base and build a reputation for expertise in that particular niche.

Let’s have a look at a few of the common niches and event types:

Social Events

• Wedding planning
• Baby Showers
• Anniversaries
• Bachelor/Bachelorette Parties
• Birthday Parties

Corporate Events

• Award ceremonies
• Conferences
• Corporate Meetings
• Grand Openings
• Product or Service Launch Party

So you can develop various strategies for your venture after deciding upon any of the following above-mentioned niches as per the demand in the events industry.

3. Prepare an Event Planning Business Plan

Once you know your niche, it’s time to put together your business plan, which is an essential step of any business. A well-structured event planning business plan will help you build a roadmap for your business, by setting out where you want your business to go and how you intend to go there.

This business document will include details about your business, its history, service offerings, management, financial health, and more.

A business plan becomes particularly crucial when one seeks financial support from banks or other institutions. It provides a transparent overview of your plans to attain financial and operational objectives, offering reassurance to funders about the feasibility of loan repayment.

Although, many consider it just a way to peak investors’ interest, a solid business plan can change the entire course of your small business.

Besides these, it also provides a structure for your company’s daily operations, helps you understand the market trend, provides an exit strategy, and also helps to attract key employees.

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4. Consider Startup and Operations Costs

The next foremost step is determining your financing requirements. You must have an in-depth understanding of your startup and operational costs.

You can estimate your startup costs by listing down the essential startup supplies, insurance costs, licensing requirements, office space, and associated expenses.

The operational costs include venue costs, decoration costs, employee salary, marketing, advertising costs, etc.

5. Paperwork and Legal Registration

Setting up the paperwork and legal registration for your event planning company is an important step to ensure that you are committed to legal norms.

First things first – before you start your event planning business finalize the legal structure and do business as (DBA) name of your business.

Brainstorm different names and pick something that reflects your business idea.

You can also opt for the DBA (Doing Business As) name. It allows the business to operate under another name other than the formal business name.

Register your Business Name

Once you have a name decided, it’s time to register your business entity with the state and local government. This will ensure that your business name is yours and you can do the business using that name.

Register your Business Structure

A business structure describes how a company is legally organized. This is an essential part.

You can choose from different business structures like operating as a sole proprietor (if you’ll be running the company on your own), a partnership, as well as other entities that provide limited liability (which ensures you won’t be held responsible for the company’s debts or other actions).

Get an EIN: Federal Tax ID Number

The process for this can vary, so you can reach out to the office of your state’s Secretary for specific guidance. Moreover, obtaining an Employer Identification Number (EIN) from the IRS Internal Revenue System is essential.

Once you have your EIN, you can open a business bank account, apply for a loan, and separate your personal and business finances.

6. Figure Out Pricing Strategy

The pricing structure depends on the market segment you serve, your potential customers, geographic location, expertise, and most importantly your competitor will help you decide your fees.

How you price your event planning services will impact how often you get requests.

You can determine your pricing structure as follows:

Hourly Rate: Initially, some event planners might charge around $25 per hour, while experienced planners can command rates exceeding $100 per hour. Corporate events tend to bring in rates about 30% higher than social events.

Flat Fee: This is a common approach where you charge a fixed price for your event planning services, often including a percentage of the total fees from vendors.

Percentage of Total Event Budget: Some planners prefer charging a percentage of the overall event budget, which could range from 15% to 20%.

Vendor Commission : A few planners choose to decrease their charges or may charge nothing for their services instead they prefer to make their income solely from commissions received from vendors they work with.

7. Get Licenses, Permits, and Insurance

Licensing and legal requirements are important in starting and running your own event planning business.

Common licenses you need to run this business are:

• Business License
• Special Event Permit
• Liquor license
• Fire/fireworks permit
• Health and Safety Permit
• Seller’s Permit

Insurance: While not a permit or license, having general liability insurance, and possibly professional liability insurance, is highly recommended to protect your business from potential liabilities.

8. Build a Core Team

Hiring employees is a crucial step. The team you set up will be the business’s backbone, helping you effectively manage and execute events.

Here are key roles you need to consider when building your core team:

• Event Coordinator
• Marketing and Communication Specialist
• Sales Representative
• Logistics Coordinator
• Administrative Support

You can hire event planners from Zippia, Upwork, Workstream, and also through LinkedIn.

9. Marketing to Spread the Word

You need to build effective marketing strategies to spread the word about your business to attract clients and establish your brand in the competitive world of events. You also need to set some marketing budget.

Here are some key areas to consider:

Target Audience

Who are you trying to reach and cover? Understand their interests, objectives, and event planning needs.

Developing a Strong Brand Identity

First, see what makes your service stand out. Developing a strong USP(Unique Selling Proposition) will help you grow your business by making it recognizable in a competitive market.

Build a professional website

Create a website that is visually appealing, informative, user-friendly, and easy to navigate.

Content Marketing

Be active on social media platforms like Instagram, Facebook, and Pinterest, sharing visually appealing content and engaging with your audience.

Showcase your successful events and satisfied clients to demonstrate your capabilities. Post the reviews of your customers on social media accounts.

Now you might be pretty much clear about how to kick-start an Event Planning Business.

To launch successfully, it’s essential to have a deep understanding of your target market, a solid business plan, and a clear grasp of the legal structure and financial aspects of running the business.

You’ve got everything now! What are you waiting for? Let’s start your journey as an event planner.

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Frequently Asked Questions

What do you need to start an event planning business.

To start an event planning business, you’ll need several key components:

• Business Plan
• Market Research
• Legal Setup
• Financial Management
• Branding and Marketing

Do you need a degree to start an event planning business?

Technically speaking, you don’t need an event planning degree to become a professional event planner. However, there are certain qualities, skills, and certificates to help you attract clients when you start the event planning industry.

A degree in a field related to events planning, design, and management may give you an edge. All other skills can be developed over time.

How can I find clients as a new event planner?

You can get your customers through:

• Building an online presence
• Collaborations with known faces
• Referral Programs
• Advertisement

Should I register my business as an LLC, sole proprietorship, or corporation?

Each structure has pros and cons, so consult with a legal or financial           advisor for the best fit:

• Sole proprietorship: Easiest to set up, but you have unlimited personal liability.
• LLC: Offers some liability protection and is relatively simple to manage.
• Corporation: More complex setup, but provides greater liability protection and tax benefits.

What skills are required to be an event planner?

To become a successful event planner, you may not need formal education, but you do have to master these skills:

• Communication Skills
• Networking skills
• Adaptability
• Negotiation Skills
• Budget Management
• Level-headed and calm under pressure
• Attentive to details
• Humble and Responsive to Clients’ Needs

About the Author

Shyam Dua is a seasoned tax professional with 40+ years of experience & a mentor at SCORE. He stands out due to his exceptional business planning skills. With a keen eye for detail and a strong financial acumen, Shyam crafts compelling business plans that pave the way to success. A CPA with a philanthropic heart, Shyam's strategic expertise, and dedication make him an invaluable asset in shaping thriving business ventures. Read more

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How to Start an Event Planning Business in 14 Steps (In-Depth Guide)

Updated:   February 14, 2024

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The event planning industry is estimated to grow at a compound annual growth rate (CAGR) of 11.8% . As celebrations, conferences, and corporate events continue to grow in popularity and scope, the demand for professional event coordination keeps rising.

With new technological tools and social platforms emerging, event planners have ample opportunities to attract clients across industries. Orchestrating memorable and logistically seamless events requires keen attention to detail, extensive vendor networks, and creative vision.

This guide will help you learn how to start a event planning business. Topics include market research, competitive analysis, registering an EIN, obtaining business insurance, and other important elements of a successful event planning business.

1. Conduct Event Planning Market Research

Market research is essential to starting a party planning business. It offers insight into creating a business plan for your own event planning business, finding the top wedding planning and party planning equipment, and more.

Some details you’ll learn through event planning market research include:

• The second largest clients are non-profit organizations and associations, investing around $2.3 billion annually.
• Beyond direct spending on event planning services, the related transportation, hospitality, and catering sectors also benefit significantly from the events industry.
• According to Meetings Mean Business, conferences and events in the US directly support over 5.9 million jobs.
• Virtual and hybrid events are also projected to see dramatic growth in the coming years as digital tools expand, opening up new opportunities.
• With globalization and rising corporate budgets driving event demand ever higher across most industries, new organizers can tap into this momentum.

Success rests on building up specialized expertise, creativity, organizational skills, and an extensive professional network. The barriers to entry remain relatively low but scaling up remains challenging in this competitive sphere.

2. Analyze the Competition

Analyzing the competition is a critical step when starting an event planning business. This analysis should evaluate both local brick-and-mortar competitors and broader online players. This will help you form a solid business plan, choose the best event management software, price according to your target market, and spot trends in the event planning service industry.

First, identify event planning agencies operating in your geographic area across various tiers and specializations. Research their specific services, pricing, types of events produced, and total capacities.

Developing a comprehensive competitor grid allows new planners to map the local landscape while spotting unmet needs or gaps to fill. It also aids in benchmarking potential pricing levels.

In addition to place-based competitors, analyze industry leaders and fast-growing startups in the online space. Study their website formats, content strategy, search visibility, social media engagement levels, professional partnerships, and other digital components.

While not directly competing for local clients initially, these firms set benchmarks for best practices across SEO optimization, accessibility options, customer service infrastructure, and innovation. New ventures should emulate and learn from category leaders in the virtual world even when focused on a specific metro region offline.

By scouting the most successful online and offline players, new planners can craft differentiated value propositions and streamlined operational processes to stand apart. Competitor analysis illuminates prevailing industry norms while revealing creative directions and offerings prime for disruption.

3. Costs to Start an Event Planning Business

Launching an event planning business requires careful financial planning and cost analysis even before taking the first client. Between startup expenses and ongoing overhead, new entrepreneurs must budget adequately to turn a profit and fuel growth. Here is an overview of common costs to expect:

Start-up Costs

• Legal formation & licensing – $500-$2,000 to incorporate plus any local business permits
• Office basics – $3,000-$5,000 for basic furniture, computer equipment, software, supplies. Alternatively, you could rent some of the equipment , reducing your start-up costs but increasing your ongoing costs.
• Website development – $3,000-$5,000 for custom design and content population
• Branding – $500-$2,000 for logo design, business cards, templates
• Marketing assets – $2,000-$5,000 for advertising, printed collateral
• Initial staffing – Many planners start as solopreneurs before hiring but budget $40K+ for the first full-time employee
• Optional storefront space – $2,000-$5,000 per month for rental lease, minimal build-out budget

Ongoing Costs

• Office rental – $1,000+ per month for coworking desk or basic retail footprint
• Software subscriptions – $100-$500 per month for CRM system, design tools, productivity suites
• Contract workers – $2,000+ per month for graphic designers, writers, virtual assistants
• Professional development – $500+ for continued event planner education
• Marketing – $500-$2,000+ per month for digital ads, content creation
• Insurance – $800+ annually for general liability & event cancellation policies
• Legal & accounting fees – $3,000 for attorney, accountant/bookkeeper
• Staffing budgets – Employee salaries from $40,000+, health benefits, payroll taxes
• General overhead – Utilities, repairs, contingencies

With lean operations, new event planners can launch with around $20,000 in startup funding. However, most entrepreneurs spend over $100,000 on initial costs including full-time staff and brick-and-mortar spaces. Careful financial planning allows room for unexpected expenses while setting realistic budgets to turn a first-year profit.

4. Form a Legal Business Entity

When starting an event planning company, the legal structure you choose determines everything from day-to-day operations to personal liability exposure. While sole proprietorships offer simplicity and partnerships enable resource pooling, limited liability companies (LLCs) deliver the best blend of protection and flexibility for growth.

Sole Proprietor

As a sole proprietor, you retain full control and avoid corporate taxes. However, your personal and business assets stay the same – leaving all your funds at risk if sued over vendor disputes or event accidents. This unlimited liability generates immense stress for solopreneurs in such a high-risk sector.

Partnership

Partnerships allow you to share the workload with a co-owner through joint contributions of capital and skills. But you still bear responsibility for your partner’s managerial mistakes or financial debts. Negotiating an equitable partnership requires complex legal guidance.

Limited Liability Company (LLC)

Establishing an LLC shields your assets from any business-related claims or judgments. As an LLC owner, you cannot lose more than your invested capital. This liability buffer promotes bolder decisions to advance competitive positioning and profits over time.

Corporation

A corporation is the entity of choice for large businesses. It is the most protective, but also the most complex entity. For a small event planning business, forming a corporation would be a long and unnecessary process compared to the other options.

5. Register Your Business For Taxes

An employer identification number (EIN) serves as a business entity’s tax ID number for federal tax purposes. Just like an individual uses their social security number to file personal taxes, a business needs its own unique EIN to handle company taxes and other regulatory documents.

Event planning businesses should apply for an EIN as soon as they officially form their business structure. The IRS offers free online registration for both new and existing entities through this simple application process:

• Step 1) Provide basic information about your company including legal name, address, and ownership details.
• Step 2) Specify the reason for requesting the EIN, choosing “Started a new business” for a newly launched event planning venture
• Step 3) Submit your contact information and EIN application digitally in just a few minutes

Once obtained, an EIN enables event planners to open business bank accounts, apply for required licenses/permits, hire employees process payroll, and file annual tax returns.

Most states also require event planning companies to register for sales tax collection certificates through their revenue department websites if selling taxable goods and services. These state-level licenses link directly to your federal EIN.

6. Setup Your Accounting

Proper financial practices form the bedrock of a thriving event-planning business. From bookkeeping and taxes to banking and expenditures, optimizing these monetary flows requires specialized accounting expertise meshed with efficient software tools.

Open a Business Bank Account

After structuring your business entity, immediately establish dedicated financial accounts and tracking. Business banking simplifies separating commercial and personal transactions while enabling essential capabilities like merchant processing. Choose a checking account with unlimited transactions to maintain liquidity for frequent vendor payments.

Accounting Software

Automating entry categorization through accounting software drastically reduces paperwork and manual reconciliation needs. Packages like QuickBooks seamlessly sync with bank/credit card accounts to log all financial activity. The visual dashboards and custom reporting also provide real-time performance analytics to guide smarter decisions.

Hire an Accountant

While technology paves the path for self-service bookkeeping, partnering with an accountant alleviates tax headaches plus auditing risks. These financial specialists handle payroll, produce clean quarterly/annual statements, optimize write-offs/deductions, and ensure full compliance across local, state, and federal requirements.

7. Obtain Licenses and Permits

Before hosting their first event, new planners must secure the necessary licenses and permits to legally operate while minimizing liability risks. Find federal license information through the U.S. Small Business Administration . The SBA also offers a local search tool for state and city requirements.

• General business license – Nearly all municipalities require annual registration of any company based within their jurisdiction, regardless of sector. These straightforward licenses collect minor fees in exchange for formal monitoring that ensures compliance with zoning, building codes, and other administrative rules.
• Special event permits – Local governments or private venues mandate dedicated permits when staging occasions expecting substantial attendance like conferences, concerts, races, or large parties.
• Liquor licenses – In addition to the basic business permit, event companies hoping to sell alcohol at hosted functions in certain public places or private venues with broader beverage programs must hold active liquor licenses.
• Food safety certification – Catering elements of an event require meeting health department standards. Some regions necessitate training courses and compliance audits when handling and serving food. Mobile cart/truck permits similarly require approval based on equipment and handling procedures.

Consult local municipal portals to identify all needed licenses, then state entities for sector-specific permits around high-risk activities. Lawfully securing the proper credentials protects both planners and their clients.

8. Get Business Insurance

Even with extensive risk management protocols, unforeseen accidents or incidents at planned events can spur lawsuits that financially devastate unprotected companies. Purchasing tailored business insurance policies greatly mitigates this liability exposure.

Without adequate coverage, a single massive claim could force an event planning venture to fold by wiping out precious working capital. Common legal actions from guests, vendors, or venue owners related to injuries, damaged property, contract disputes, or negligence might seek six or even seven-figure payouts.

Paying such exorbitant settlements out-of-pocket would irreparably sink most small operators. Business interruption stemming from a canceled event could also cut off vital income flows right when legal fees swell. Top carriers like The Event Helper and Progressive offer customized protection including:

• General liability – Covers 3rd party bodily injury and property damage claims
• Event cancellation – Reimburses for canceled event loss of income
• Professional liability – Handles errors and omissions around client work
• Cyber liability – Mitigates data breaches and hacker attacks

Purchasing the right insurance begins with a needs assessment and consultation with qualified brokers familiar with the unique risks event planners face. They help tailor tiered solutions balancing premium costs and coverage limits based on potential vulnerabilities.

9. Create an Office Space

An office provides event planners with physical infrastructure enabling smooth operations, productive work routines, and polished client meetings. The optimal setup balances functionality, aesthetics, and cost based on business stage and location-based needs.

Home Office

Home offices offer ultra-low overhead with maximum schedule flexibility for solo entrepreneurs. Spare bedrooms readily transform into functional command centers for administrative work, phone calls, and virtual collaborations. Particularly benefiting rural planners not needing to meet local clients daily, dedicated spaces within a residence rent around $100 monthly.

Coworking Office

Coworking spaces like WeWork provide stylish, professional environments conducive to focus while enabling networking with other site members. Open desk rentals typically run $300+ monthly across most metro markets. For teams needing meeting rooms and private office spaces, costs scale to $800+ monthly. While positioning brands as modern companies, the variable month-to-month terms simplify growth projections.

10. Source Your Equipment

Launching an event planning venture requires acquiring key equipment to execute successful gatherings, while carefully balancing initial outlays. Savvy entrepreneurs source these vital materials both new and used from diverse suppliers:

Brand-new laptops, printers, cameras, and software pack reliability and performance but strain startup budgets. Entry-level packages sufficiently support early operations with basic Word/Excel systems spanning $300+, high-quality DSLR camera outfits from $750+, and versatile printer/scanner combos averaging around $300.

Lightly-used electronics provide immense savings over new ones while retaining plenty of utility. Scout local classifieds like Craigslist and Facebook Marketplace for laptop deals under $100 and camera gear deals up to 70% off retail prices.

Equipment rental shops provide affordable short-term access to pricey items like speakers, stages, and furniture that planning agencies cannot justify buying outright. Most inventory rents for 5-10% of the purchase price per day with delivery/pickup. Useful for outfitting large one-off events.

Long-term equipment leasing enables the use of essential assets like vehicles and expensive tech across 12-48 months for small recurring fees, avoiding major outlays. Lease approvals depend on business financials and credit history.

11. Establish Your Brand Assets

Cultivating a strong brand identity proves essential for event planning agencies striving to attract clients in crowded marketplaces. Strategic moves like securing a personalized phone system, crafting sleek visual assets, digitizing operations through polished websites, etc. boost recognition and trust in equal measure.

Get a Business Phone Number

Acquiring designated business phone numbers and extensions through advanced VoIP platforms like RingCentral conveys professionalism from first contact. Callers reach responsive representatives instead of shaky personal devices prone to poor service.

Design a Logo

A logo symbolizes the visual ethos of an events company. Bold, lively marks composed on DIY sites like Looka feel fitting for stirring experiences while minimalist icons may suit corporate planners. Clean icons also ease embroidery on shirts and other merch.

Print Business Cards

Business cards enable establishing immediate connections at venues and industry gatherings by passing memorable branded collateral. Matching the fonts, colors, and symbols from logos funded through vendors like Vistaprint ties assets together.

Buy a Domain Name

Securing matching domain names raises online visibility and credibility during digital searches for regional event support. NameCheap guides new owners through domain valuations, availability checks, and purchase processes to acquire their .com identities.

Build a Website

Building out full websites demands weighing the cost/control tradeoffs of hiring web developers versus utilizing simplified DIY sites like Wix . The former route engages experts to code custom designs while the latter enables affordable self-service creation like Fiverr .

12. Join Associations and Groups

Beyond online brand-building, event planners gain immense value by actively participating in local professional associations, gatherings, and digital communities. Tapping this hive knowledge aids continuous skills development while forging collaborations and client referrals.

Local Associations

Industry associations like Meeting Professionals International contain established groups across most metros. Monthly meetings cover trending challenges plus open idea exchange and job boards link talent with roles. Membership fees that enable access to these networks range from $100 to 500 annually depending on region and applicant experience level.

Local Meetups

Attend area business events and tradeshows like those discovered through Meetup which compile upcoming webinars, conferences, and networking happy hours. Develop authentic connections with venue managers, caterers, rental vendors, and fellow planners who later trade subcontracts on larger events. Entry fees average $20 per session.

Facebook Groups

Vast troves of experiential knowledge hide amid planning communities inside Facebook Groups like Creative Event Planners and Party Planners & Event Organisers . Digging through the innumerable archived conversations reveals referrals for all vendor types from photographers to security guards plus new angles on costs and client preferences based on geography. Signing up is free.

13. How to Market an Event Planning Business

Promoting events expertise through consistent marketing enables planners to fill calendars with coveted bookings. Balancing digital outreach scalable to wide audiences and personal relationship-building grows community authority plus positive word-of-mouth referrals.

Referral Marketing

Satisfied party and conference clients eagerly recommend services after seamlessly executed celebrations leave lasting impressions on their guests, employees, or business partners. Offer branded giveaways or discounts on future bookings to motivate sharing on social media and referring associates.

Digital Marketing

Digital tactics wield incredible reach to engage prospects plus influence search visibility:

• Launch Google Ads campaigns to display services when users search for related keywords like “corporate event planners”
• Run Facebook and Instagram ads targeted locally by interests like “conferences”
• Post TikTok videos displaying behind-the-scenes event footage
• Start a planning advice blog updated weekly with SEO-optimized articles
• Send monthly email newsletters with venue spotlights and seasonal promotions

Traditional Marketing

Traditional options establish visibility and trust through long-lasting community presence:

• Distribute printed flyers and mail promotional postcards to regional HR contacts
• Schedule radio spots on local stations before major holidays or during conference seasons
• Rent eye-catching billboard space along heavily trafficked commuter routes
• Sponsor booths at annual business or tourism conventions to meet event organizers
• Host public mixers at recently opened venues to connect with new clientele

Synchronizing digital efficiency with physical relationship-building helps event businesses continually expand influence and bookings.

14. Focus on the Customer

Delivering exceptional customer service forms the cornerstone of a thriving event-planning business. Referral rates directly tie to exceeding partner and client expectations through responsive communication, transparent pricing, and seamless execution.

Venue owners and vendors constantly evaluate new planners before trusting precious bookings to unproven partners. Glowing word-of-mouth shifts leverage during these crucial vendor negotiations as applicants showcase rave reviews from regional players.

Similarly, the corporate clients and non-profits hosting family reunions, galas, and conferences assess planner competency through each interaction. It’s vital to present polished responsive proposals, address all questions promptly, and carefully guide stakeholders from conception through the final farewell toast.

Impressing guests through personal touches like customized menus or surprises for the guest of honor sparks appreciation. When audiences leave galvanized by a perfectly orchestrated event aligned with organizational values/goals, they eagerly recommend partners for future functions.

In an industry dependent on intimacy and trust, delivering exceptional customer journeys wins repeat business and referrals that allow for sustainable company growth in competitive event markets.

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1. Build a solid business plan

I can’t tell you how many small event planning businesses fail because the founder didn’t put together a business plan in advance.

Start by researching successful plans and businesses that are similar to your scope of work. Then reach out to others in the events industry who may be able to guide you! 

Reach out to others in the events industry that may be able to guide you. Click To Tweet

Even if you’ve never seen a business plan, there are plenty of resources and templates online that can get you started. Additionally, when you look to grow your business, an up-to-date business plan is vital to secure any kind of investment.

Start with the right event tools for your business

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2. Set a marketing budget and use a PR company when possible.

When starting your party planning business, your marketing budget may be 30% or more of your business expenses. Does that seem like a lot? Think about all the things you’ll need:

• A website for your business
• Business cards
• Flyers and other printed info
• Digital marketing and online ads
• Expenses to travel to events for networking

Don’t leave anything out! You will need to spend money to make money, ultimately. The goal in the early months is to secure your base of customers as quickly as possible. If you deliver on the promise of creating memorable events, your clients will stick around and recommend you. As a result, your marketing costs will start to drop.

Here’s How to Start an Event Planning Business Click To Tweet

3. Clearly define your scope of work, mission and goals for your event business.

Your event planning business may evolve over time, but even when you’re just starting out, it’s important to clearly outline what you are and aren’t willing to do. You can even put this on your website to attract the right type of clients.

When you’re still building your business, saying “no” to clients  is one of the hardest things to do. But it might save you from dealing with the kinds of customers that take up too much time and don’t offer enough value in return.

4. Have your elevator speech ready.

After I set up my first events business, I had a hard time selling it to people because my 30-second pitch wasn’t refined. Make sure to spend time developing this ” it is the key to introducing everyone to your business.

Pro tip:  Don’t stress about the name of your event planning business. At the end of the day, the name of your business doesn’t matter ” as long as you produce truly memorable events. However, a catchy event business name idea might stick in someone’s brain better during an elevator pitch.

5. Do your market research

Before jumping, in I always tell people to understand their market and competitors. What is your unique value proposition? Are your fees similar to, better than or higher than others in your area? Understanding your competition and your clients will give you the leg up in this market. Don’t skip this step!

6. Spend some time learning tax laws and business filing in your area.

No matter what kind of business you want to start, there are lots of legal pieces to understand. I spent time researching which type of business would be best for me (LLC made the most sense for my consulting business).

It’s also critical to understand the tax implications before you dive in. For example, when I moved my business from Virginia to California, I had to go through the process of dissolving the business. I should have taken more time to research other possibilities!

There’s a lot to navigate, but some great resources exist for building small businesses. Here are a few I recommend:

• IRS.GOV “ Starting a Business
• SBA.GOV “ 10 Steps to Starting a Business

One of my favorite resources in Women In Events . New event planners can take advantage of our mentoring/coaching program after signing up.

Now You’re Ready to Start a Great Event Planning Business!

Have questions? We’ve got answers. Connect with @socialtables on Twitter.

Up next, here’s how to pick an event company name for your business . Or check out Social Tables free event planning tools to manage seating, meals, and so much more.

Try the event management software planners love

More tips for aspiring event planners.

• The 6 Must-Have Event Planning Skills You Need for Career Success
• The Top Event Planning Conferences This Year
• 10 Event Planning Tips Every Budding Coordinator Needs to Know

Still searching for answers about starting an event planning business?

Do your research, make a plan, set a budget, define your scope of work, and throw amazing events!

You should plan to set aside at least $15,000 to $25,000 to start a small event planning business.

Event planning can be quite a profitable career choice. The best event planners will make a name for themselves and be able to charge high prices for their vision, creativity, execution, and results.

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The Ultimate Guide on How to Start Your Event Planning Business

There's no time like the present to start your event planning business. But before you get your first customer, you need to do some prep work.

Maybe it started in high school, when you planned out the snacks, the agenda, and everyone's roles for study sessions. Maybe it started in college, when you organized open mic nights at a local bar. All you know is you've got the itch: You want to start an event planning business.

But how do you go from just thinking about it to actually running a business?

There are six major steps that you need to take to start your business. We'll take you through each one so that by the time you're done reading this, you'll be better prepared to open up shop.

6 steps to starting your business

1. establish your expertise.

If you want people to trust you with their events, you need to demonstrate you know what you're doing.

Outside of an undergraduate degree in hospitality, you can enroll in various certification programs that will help bulk up your expertise and let your clients know they're in knowledgeable hands.

There are so many types of certifications, however, that it can be difficult to know the best to get. Below, we'll take a look at three general (i.e. not specialized) certifications you can obtain.

There are, of course, plenty of other certifications you can obtain and courses you can take that are much more event-type specific. You can also see if your local college or university offers any courses or certificates that might help you get started.

Certified Meeting Professional (CMP) Certification

The CMP is established by the Convention Industry Council, and the exam covers planning, site management, event design, marketing, and international standards.

The Council's website offers suggested reading and preparatory materials and the exam is offered every few months. For 2020, the announced test dates are in January, May, and August.

A CMP holder earns about $10,000 more annually than their uncertified counterparts, according to the Events Council.

If there's even the slightest chance you're considering working as a healthcare event professional, they also offer a CMP for that function specifically.

Certified Special Events Professional (CSEP) Certification

This exam, administered four times a year, can be taken remotely. Similar to the CMP, it was established by a group of professionals (this time, the International Live Events Association).

With your certification you also get industry newsletters and a structured network that can help you build out your resources, get advice, and find mentors to help your business grow. However, there is an expertise requirement (three years in the event planning industry) before you can take it.

Certificate in Meeting Management (CMM)

Rather than simply taking an exam to test your knowledge, the CMM is an entire training program. It takes approximately 15 weeks and is more academic than practical in its approach.

The downside is that you'll have to travel to Indiana, so if you're not from the area it might take a little more budget than you have readily available to get this certification.

However, people with a CMM make about $30,000 per year more than those without it (and $20,000 per year more than those with the CMP certification).

2. Build an effective business plan

A business plan essentially establishes what your business goals and strategies will be moving forward.

Having a business plan doesn't just help you organize and road map the success of your business. It can also be a powerful tool to present to the outside world, such as potential investors who are curious about your strategy.

Your plan should include the following:

An executive summary—why is your company different from all other companies?

The company overview—this is what the company will look like.

An industry analysis—our niche of the event industry looks like.

Customer analysis—our customers will look like this.

A breakdown of your key competitors—this is what we're up against.

Your plans for marketing, operations, management, and finances—this is how we'll make our money.

An appendix of all your supporting documents—leases, contracts, trademarks, resumes, marketing materials, etc.

Score offers a handy template that can help you get started.

Within your company overview, you need to firmly establish what type of events you're planning to focus on. You don't need to stick with that event type forever, but it's important to start with a single effort. You can dedicate the full extent of your resources and expertise towards that goal, and then slowly build out from there.

Focusing on a single type of event will also give you a much clearer idea of who your customers will be. This can help in several sections of your business plan.

3. Secure startup capital

It only takes about $2,000 to $5,000 to get your business off the ground. Beyond that, there will be recurring costs that you need to factor in to your budget, since you won't be profitable right away.

There are a few ways you can secure that money:

Self-finance

Banks (i.e. lines of credit, small-business loans, or 401(k) business financing)

Friends and family

But what if you don't have any startup money?

If you can't self finance, don't worry—your business plan is here to help.

Whether you're incorporating it into a presentation to a bank, or using a crowdfunding platform such as AngelList , CrowdFunder, or Fundable , your business plan will demonstrate exactly where your investors' money is going, and how you plan to get it back to them.

4. Invest in the software you need to effectively run your business

There's an overwhelming number of software types you can use for your business. Some of them you'll find helpful right away, and some of them you'll find helpful further down the line.

Here's a list of core software types and why you might want to invest in them:

To help manage projects, tasks, and workflow: event management or project management software.

To help interact with your present and future customers: customer relationship management , lead management , email marketing , social media marketing , marketing automation software.

To help keep your information secure: email security , cloud security , network security , and/or SIEM software.

To keep your office running smoothly: budgeting , billing & invoicing , and collaboration software.

To improve attendee experience at your events: conference (be sure to get one with registration capabilities), venue management , and mobile event apps .

You may be able to find some free options (like in this article on free and open source event management software). Just make sure you check the user reviews of your potential purchase to make sure it won't be more trouble than it's worth. Capterra's software directory has user reviews for all of the products listed above.

5. Figure out what you need to legally operate your event planning business

Putting in the effort now to make sure that your event planning business is above board and protected means a lot less paperwork (and a lot less in terms of potential legal fees) later down the line.

The first big step is registering your business with state and federal governments. The IRS offers handy advice for exactly how to do that .

You'll also need to figure out which licenses and permits you need. Many of these will depend on the type of event planning you intend to do, but Brand Name USA has a good guide to get you started.

Finally, you have to make sure that you're covered in case of any accidents—to you, your business, or your employees. You'll need to secure a worker's comp policy, as well as a variety of different types of insurance.

6. Establish a marketing campaign and build out your network

For your business to truly succeed, you need clients and partners.

Marketing your business to clients

You know exactly who your target clients are, thanks to the research that went into your business plan. It's time to reach out to those potential clients. Use any channel you have at your disposal—email marketing campaigns, cold calls to businesses, or social media, for example.

Make sure that you focus on channels that are highly impactful for your target audience. You can do this by testing out to a wide group of channels and seeing which gets the most engagement from your network. You can also employ social media segmentation which can help streamline this process a bit.

For example, if you want to plan pop-up food experiences, Instagram, Twitter, and Facebook are great channels. If you want to plan software showcases, LinkedIn and email marketing might be a better play.

Make the most impactful marketing strategy possible, and you'll grab those leads in no time.

Marketing your business to potential partners

You need to build out your network of vendors, venues, and other industry experts whose services you might require.

You've already established what type of event you want to focus your business on. Think of every facet of a possible event. Go through our guide on how to plan an event . Look at the list of vendors there, and find local vendors that cater to each of those categories. Whether it's catering or security or A/V equipment, you'll need to know who you can turn to for events.

Reach out to them and establish a connection so that when you have an event and need their services, you have an extant relationship you can work from.

Important reading before you start your event planning business

This guide should give you a strong understanding of what you need to do to start your event planning business.

As you go off to establish your expertise, make sure to read a few more articles to give you a fuller understanding of what you'll be facing on the road ahead.

How to Find a Venue for an Event: 6 Crucial Boxes to Check

Post-Event Engagement: How to Keep the Event Experience Alive

7 Event Budget Templates to Plan Your Finances

Was this article helpful?

About the author.

Adam Rosenthal

Adam Rosenthal is a Senior Specialist Analyst covering Vendor Marketing. He received his Masters from the University of Chicago and worked on several TV shows you might have heard of.

RELATED READING

How to Start an Event Planning Business from Home

Are you a creative and organized individual with a passion for planning and organizing memorable events? Starting an event planning business from the comfort of your own home could be the perfect venture for you. With the rise of virtual and remote work opportunities, the event planning industry has also adapted to cater to clients who prefer the convenience of online services. In this article, we will guide you through the essential steps to start your very own event planning business from home.

Setting Up Your Home-Based Event Planning Business

Define your niche.

The first step in starting any business is to identify your target market and define your niche. Event planning is a broad industry, so it’s essential to specialize in a particular type of event or a specific clientele. This could be anything from weddings and corporate events to social gatherings or nonprofit fundraisers. By focusing on a niche, you can tailor your services to meet the unique needs of your target audience.

Develop a Business Plan

A well-thought-out business plan is crucial for the success of your event planning venture. It acts as a roadmap, outlining your goals, target market, marketing strategies, financial projections, and more. Your business plan will help you stay focused and organized as you navigate the various aspects of running your business.

Register Your Business

Next, you’ll need to register your home-based event planning business. Research the legal requirements in your area, including obtaining any necessary licenses or permits. Choose a business name that reflects your brand and check if the domain name is available for your website.

Create an Online Presence

In today’s digital age, having a strong online presence is essential for any business. Create a professional website that showcases your services, past events, testimonials, and contact information. Consider incorporating a blog to share event planning tips and industry insights. Utilize social media platforms to promote your business, engage with potential clients, and build a network of industry contacts.

Building Your Event Planning Skills and Network

Gain experience.

Before launching your event planning business , gaining practical experience in the field is invaluable. Offer your services to friends and family or volunteer to assist with local events. This hands-on experience will not only enhance your skills but also provide you with a portfolio of successful events to showcase to potential clients.

Attend Industry Events

Networking is a vital aspect of the event planning industry. Attend industry conferences, trade shows, and seminars to connect with fellow event planners, vendors, and potential clients. Building a strong network of professionals in the field can lead to referrals and collaborative opportunities.

Join Professional Associations

Consider joining professional associations related to event planning, such as the International Live Events Association (ILEA) or the Wedding International Professionals Association (WIPA). These associations offer valuable resources, educational opportunities, and networking events specifically tailored to event planners.

Marketing Your Home-Based Event Planning Business

Create a marketing strategy.

Develop a comprehensive marketing strategy to promote your event planning business. Utilize both online and offline marketing channels to reach your target audience. Some effective marketing tactics include social media advertising, content marketing, email marketing, attending industry trade shows, and collaborating with local vendors.

Build Relationships with Vendors

Establishing strong relationships with vendors in the event industry can be mutually beneficial. They can provide referrals and recommend your services to their clients, while you can reciprocate by referring clients to them. Collaborating with trusted vendors ensures a smooth execution of events and enhances your professional reputation.

Leverage the Power of Testimonials

Positive reviews and testimonials from satisfied clients can significantly impact the success of your event planning business. Encourage clients to leave feedback and testimonials on your website or review platforms. Share these testimonials on your website and social media platforms to build trust and credibility with potential clients.

FAQ’s

Q: how much does it cost to start an event planning business from home.

The cost of starting an event planning business from home can vary depending on various factors, such as the scale of events you plan to organize, the services you offer, and your local market. It’s essential to create a detailed budget that includes expenses such as marketing, website development, office supplies, and industry association fees.

A: Do I need any certifications to start an event planning business?

While certifications are not mandatory to start an event planning business, obtaining a certification can enhance your credibility and provide you with valuable knowledge and skills. Consider pursuing certifications such as the Certified Special Events Professional (CSEP) or the Certified Meeting Professional (CMP) to set yourself apart in the industry.

Q: How do I determine my pricing for event planning services?

Pricing your event planning services involves considering factors such as the complexity of the event, the number of attendees, the services you provide, and the local market rates. Research the industry standards in your area and conduct a competitive analysis to ensure your pricing is competitive yet profitable.

Starting an event planning business from home allows you to turn your passion for organization and creativity into a profitable venture. By following the steps outlined in this article and continuously honing your skills, you can build a successful home-based event planning business that brings joy and memorable experiences to your clients.

How to Start an Event Planning Business

Event planners help their clients organize and orchestrate events of all types and sizes. Everything from weddings and social gatherings to an industry-specific, professional soiree, an event planner’s job is to make sure everything runs smoothly, ensuring that any problems will be handled appropriately.

You may also be interested in additional low cost business ideas .

Learn how to start your own Event Planning Business and whether it is the right fit for you.

Ready to form your LLC? Check out the Top LLC Formation Services .

Start an event planning business by following these 10 steps:

• Plan your Event Planning Business
• Form your Event Planning Business into a Legal Entity
• Register your Event Planning Business for Taxes
• Open a Business Bank Account & Credit Card
• Set up Accounting for your Event Planning Business
• Get the Necessary Permits & Licenses for your Event Planning Business
• Get Event Planning Business Insurance
• Define your Event Planning Business Brand
• Create your Event Planning Business Website
• Set up your Business Phone System

We have put together this simple guide to starting your event planning business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

• What are the startup and ongoing costs?
• Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Event Planning Business Name Generator

If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.

When registering a business name , we recommend researching your business name by checking:

• Your state's business records
• Federal and state trademark records
• Social media platforms
• Web domain availability .

It's very important to secure your domain name before someone else does.

Want some help naming your event planning business?

Business name generator, what are the costs involved in opening an event planning business.

An event planning business can have a fairly low overhead for start-up. If you are based from home, you will avoid rent and utilities costs. Other costs will include:

• Business website and site hosting
• High speed internet and phone service
• Advertising and marketing
• Business licenses and taxes

What are the ongoing expenses for an event planning business?

Re-stocking supplies, employee payroll and replacing damaged or broken equipment constitute much of the ongoing expenses. Other expenses can include:

• Event publicity and invitations
• Equipment rental
• Signage and flyers

Who is the target market?

Your target market will consist of clients wanting either social or corporate event planning. Social event age groups range between 25-60+ whereas corporate events are focused more on employees and other business entities, regardless of age.

How does an event planning business make money?

Event planners make their money from the service fees, paid by the client, for the planning and operations of the event.

Because events are priced on a sliding scale of size and supplies/workers needed, pricing can range quite a bit. Many event planners charge a percentage, say 15-20%, relative to the overall cost of the event. Therefore, if an event is $100,000, the event planner would be collecting between $15,000-$20,000.

How much profit can an event planning business make?

Profit margins depend on the size and number of events you pick up per year. A social event planning business can make between $10 - $75 per hour, whereas a corporate level event planning business could charge between $15-$150 per hour. An average salary for an event planner employee is around $35,000 annually, with an owner averaging $75,000-80,000.

How can you make your business more profitable?

As the event planning business becomes well-established, you may consider adding additional services, such as catering, bartending, or even photography to your customer options. By supplying in-house hospitality services, you are able to offer clients a full-service experience and, in turn, create more business revenue.

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your event planning business is sued.

Form Your LLC

Read our Guide to Form Your Own LLC

Have a Professional Service Form your LLC for You

Two such reliable services:

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate an event planning business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .

Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .

Services Contract

Event planning businesses should require clients to sign a services agreement before starting a new project. This agreement should clarify client expectations and minimize risk of legal disputes by setting out payment terms and conditions, service level expectations, and intellectual property ownership. Here is an example of one such services agreement.

Recommended: Rocket Lawyer makes it easy to create a professional service agreement for your event planning business when you sign up for their premium membership. For $39.95 per month, members receive access to hundreds of legal agreements and on call attorneys to get complimentary legal advice.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

FInd out what types of insurance your Event Planning Business needs and how much it will cost you by reading our guide Business Insurance for Event Planning Business.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market an event planning business

Marketing and promotion of your business will rely on highlighting your business strengths or areas of focus. You will also rely heavily on the success of past events and the positive words or recommendations of prior clients. Consistently use social media outlets to supply pictures and video of your events as well as connect and network with prospective clients and related professionals.

You will also need a website for your business. By linking to your site, you can give clients more information about your specialties. And, once they are on your website, they can contact you for additional questions and to book you for events.

How to keep customers coming back

Providing a professional level of service and an impeccable relationship for giving the customer what they want is key. People are buying a service from you, for a particularly important event. Your ability to satisfy their desires will determine how many return customers you’ll have.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

• All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
• Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
• Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

Is this Business Right For You?

Those with an eye for detail, applied creativity, and the ability to easily converse with the general public, will find a great match in event planning. You must also have patience, humility, and the ability to help materialize the customer’s vision for their event.

Want to know if you are cut out to be an entrepreneur?

Take our Entrepreneurship Quiz to find out!

Entrepreneurship Quiz

What happens during a typical day at an event planning business?

An event planning business makes its money from hosted events. This means interacting with current and potential customers is critical. Either one on one or through larger social media outlets, a successful event planner must constantly work to get their name and reputation known to the public. Additionally, the business will be:

• Reading and responding to customer e-mails
• Re-stocking event inventory
• Communicating with vendors or business partners, regarding upcoming jobs
• Marketing and PR work
• Employee training and continued education

What are some skills and experiences that will help you build a successful event planning business?

To begin, it is not necessary to obtain a degree or professional certificate of training for event planning. It may help you, but many successful event planners learned many of the skills needed from on the job training. A background in customer service or the hospitality industry can provide great experience.

You should also be familiar with or be able to:

• Communicate effectively, both in writing and verbally
• Possess strong organizational skills
• Be flexible and prepared to make adjustments to plans

What is the growth potential for an event planning business?

Event planning is steadily growing as an industry. With increased globalization in business, more and more companies are looking to host professional, well-organized events to grow their own businesses. And, as business grows internationally, event planning will continue to mirror this trend.

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For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.

Take the Next Step

Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

Having a support network in place to turn to during tough times is a major factor of success for new business owners.

Learn from other business owners

Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.

Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

What are some insider tips for jump starting an event planning business?

Understand your client base and seek to create a niche for your business. A niche may be weddings and receptions only. Or events near the coast. If you carve out your own special place amongst the competition, the specialization should pay off in return customers and customer referrals.

• Market towards the demographics you’re most likely to see in your area.
• Join a professional event planner association. Networking with other professionals can garner excellent insider tips.
• Make your business as well known as possible through social media. Free advertising, especially for start-ups, is an excellent resource.

How and when to build a team

From the onset of starting an event planning business, you’ll need to consider who should be part of your team. It will be necessary to carefully select individuals who understand the multiple roles they will play in creating successful events. As your client list and event size and frequency grows, you’ll want to bring in more staff. You may even consider having an overflow pool of workers, who are pulled in for larger events or as needed, but aren’t full-time employees.

Useful Links

Industry opportunities.

• Event Planners Association
• Event Service Professionals Association

Real World Examples

• The Event Planner
• Who’s Got the Time?
• Elle A Events

Further Reading

• Tips for starting this business from home
• Considerations when starting this business
• Tips for starting this business

Have a Question? Leave a Comment!

How to Start an Event Planning Business in 8 Steps in 2023

The information in this article is intended for general information purposes only. You should not rely on it as the sole basis for making any business, legal, or other decisions. While we make every effort to ensure that facts stated are correct at the time of publication, we do not accept any responsibility for keeping this information up to date. Any views expressed in this article are those of the author and do not necessarily represent those of Pay.com.

Starting a new business is stressful. And the pressure is even greater in the event planning space. Business owners in this competitive industry need to strategize business operations while simultaneously organizing extravaganzas that make clients swoon. Which is why you need a clear understanding of the building blocks necessary for success .

In addition to your creative flair, effective financial and business tools are essential for establishing an event planning business that flourishes. In this article, I’ll guide you through everything you need to do – and pay attention to – when starting an event planning business.

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8 Steps to Start an Event Planning Business

There are a few things you’ll want to do to set up a successful event planning business. We’re exploring eight key steps that will take you from finding your niche to booking events, accepting payments, and tracking your performance to grow your business.

1. Perform Market Research

Successful businesses put their customers first. These entities focus on what the market wants or needs, and create products to fill that gap. But understanding exactly what your clients desire doesn’t just happen. This is where market research comes in.

To attract the type of client you want to plan events for, you need to understand who they are. Market research can reveal basic demographic data (like age range, income bracket, and geographic location) to identify potential customers . 

Besides getting to know who your target market might be, market research can also help you to plan for the future . A deep dive into your potential clientele can help you to set realistic targets for your business, develop effective growth strategies, and identify opportunities for future growth. 

One of the easiest ways to do market research is to look at companies you think would be your competitors . You’ll also want to conduct some audience surveys . Set these up on your social media channels and promote them to your target audience to attract attention and get responses.

2. Create a Business Plan

Once you know who you’ll be planning events for, it’s time to put together your business plan . This all-encompassing document creates a roadmap for your business , setting out where you want your business to go and how you intend on getting there. 

A business plan is especially important if you’re going to be applying for finance from a bank or other financial institution. The document will show your funders how you plan to achieve your financial, operational and marketing goals . And how likely it is that you’ll be able to repay loans.

There are five elements that every business plan should include:

• Business overview: The type of events your business will focus on, its name, location, and who the key stakeholders are.
• Budget: Your projected income and expenditure over the first 12 months.
• Target market: The people or companies who you’ll be aiming to provide event planning services to.
• Competitors: The other companies that work in the same market where your business will operate.
• Marketing plan: How you intend to attract customers and how much doing this will cost.

3. Calculate Your Monthly Operating Costs

As a small events planning business, the most important ongoing costs to think about are likely the ones you’ll incur for using merchant services and products . Especially payment processing. Without this service, you won’t be able to accept any card or digital payments from customers.

It’s best to go with a provider that offers a flat-rate pricing model with a fixed per-transaction fee. This will ensure you know exactly how much you’ll pay for processing each month.

Other pricing models, like the tiered fee structure , lack transparency. It’s often difficult to decipher how the monthly fees relate to the transactions you’ve performed. Plus, it’s near impossible to use your bank statement to project what you’ll pay in subsequent months.

That’s why we use a flat-rate pricing model at Pay.com . This takes the guesswork out of what your monthly fees will be, which makes it easy for you to project costs based on how much business you’re doing – freeing up space for you to concentrate on building the best event planning business.

4. Register Your Business

Registering a business can be a complex, drawn-out process. Fortunately, if you’ve created a business plan, you’ll already have done much of the legwork required to get started.

One important factor to decide on at this stage is the type of business you’ll establish. You can choose from operating as a sole proprietor (if you’ll be running the company on your own), a partnership (if you’re working with someone), as well as other entities that provide limited liability (which ensures you won’t be held responsible for the company’s debts or other actions).

Each of these structures has benefits and drawbacks, mostly related to how much tax you’ll pay and your level of liability in the company’s dealings. It’s best to speak with a lawyer or business advisor with expertise in this field before making the decision .

Once you’ve decided on the structure, you can register the business name, get a tax number, and acquire all of the relevant licenses and permits that you’ll need to operate in your state.

5. Plan to Accept Customer Payments

Cash might be king, but in today’s world, convenience rules the roost. And cards are convenient – especially for big-ticket services like events – so you’ll want a way to accept debit and credit card payments from your customers . 

It’s best to choose a merchant service provider that offers a variety of payment methods . Plus, you’ll be able to manage all of your payment-related administrative work in one place.

There are a few options for completing card-not-present transactions. At Pay.com, we offer four user-friendly solutions that all work well for event planning businesses:

• Payment gateway : Accept payments online via your website through a secure portal that protects cardholder details during transactions.
• Pay Virtual Terminal : Collect credit card details from customers (e.g. over the phone) and input them into your Pay Dashboard to accept payments.
• Pay Links : Use the Pay Dashboard to create a payment link with a personalized checkout page that can be sent to your customer.
• Pay Checkout: Generate an invoice with a payment request and unique payment link to send to your customer.

Offering your customers a variety of payment options makes getting paid easier and more convenient . On top of that, a seamless payment experience will help to boost your brand and build trust.

6. Set Up a Merchant Bank Account

If you’re planning on accepting debit or credit card payments in person or online , you may want to set up a merchant account . This account stores your customer’s funds while a transaction is being processed. 

Although they’re usually a foundational merchant service product, some merchant service providers offer solutions that eschew the need for a merchant account . Especially if you’re just starting out in business.

Let’s say you decide to work with Pay.com to manage your digital and card transactions. Rather than going to the bank to open a merchant account, finding a partner to host your payment gateway, and connecting with a company that offers payment processing, you can combine all of these services on one platform.

With just a few clicks, you can set up an account and start accepting a variety of payment methods without having to open a merchant account. What’s more, you can use the Pay Dashboard to easily view and manage everything and anything related to your payments.

7. Market Your Business and Start Planning Events

Now that you know the types of events you want to plan, the clients you want to work with, and how you’re going to accept payments, it’s time to start bringing in some business! This is where marketing comes in.

Every modern business needs an online presence. It’s a super cost-effective way to promote your new event planning company to customers and potential partners alike. 

There’s no need to overcomplicate things: a simple, one-page website and key social media accounts are more than enough to get your brand noticed. Be sure to create relevant posts on a regular basis – and don’t forget the power of advertising on social media.

Once you’ve drummed up some interest online, you’ll be on your way to booking your first client (or clients!) and planning events. 

8. Track Your Success

To know where you’re going, you need to know where you came from. If you want to make decisions that grow your event planning business, you need data . Having information about how your customers behave is invaluable for planning and strategizing. 

One great way to monitor this is through social media activity. Create event-specific hashtags for guests to use when posting photos to various social media channels. This will enable you to monitor how engaged attendees were and has the added benefit of promoting your services to those guests’ social media networks.

Another strategy is to survey past and existing clients. Ask them how they heard about your business, why they chose to work with you, and if they’d use your services again. Remember to include some specific questions about the event, too (e.g. about the venue or entertainment). This will help you to identify any possible areas for improvement.

This data will not only help you to make better decisions as your business grows , but will also enable you to provide personalized customer experiences that keep your client base engaged.

The Pros and Cons of Starting Your Own Event Planning Business

The event industry is bursting with glitz and glam, but there are some downsides to starting your own event planning business.

• Flexibility : You are the master of your own fate when you start your own event planning business. Who you work with, where you work, and when you work are all up to you. 
• Repeat business : If you’ve organized an event that’s the talk of the town for weeks after, that client is likely to use your services again and again. 
• Creative expression : Unlike the typical 9-to-5, event planning allows you to express your creativity to produce unforgettable experiences for your clients.
• Networking challenges : It takes time to build relationships with the service providers you will need to work with – especially in places where there are already many event planning businesses.
• Difficult to scale : Event planning businesses are resource intensive and it’s difficult to increase revenue without increasing resources or raising your prices.
• Long, irregular hours : Planning is done beforehand, but you’ll be expected to be on site when the event happens – that means working when everyone else is off and enjoying themselves.

The Bottom Line: Is Starting an Event Planning Business Right For You?

Event planning is a fast-paced job that will require you to be inventive and work with all sorts of interesting people. An event planning business is the ideal company to start for anyone who’s creative and client-focused – and wants the excitement of flexible work.

You’ll want to have all of your bases covered before you set about putting your first party together. A solid business plan is the best place to start. Having a definite direction for your event planning enterprise will help you to make decisions that keep you on track and help your business to grow .

Finances are a major factor when it comes to owning and operating an event planning business. So you’ll want to work with merchant service providers who minimize money-related stress for you and your customers . 

Choose a full-service provider that offers quick, easy and convenient ways to accept payments . It’s best to go for a platform that allows you to set up accounts, configure payment methods, and manage customer profiles in just a few clicks – and for a fixed fee . Like Pay.com.

If you’re up to the challenge of operating in this competitive space and you’re motivated by seeing people have a good time, starting an event planning business might just be right for you.

How can an event planning business accept payments?

There are a few ways that an event planning business can accept card-not-present payments. A payment gateway is great for any business that has a website. But if you don’t have a website, you can use payment links, virtual terminals, and online invoices to request and accept payments – all of which you can access if you use Pay.com, a full payment service provider.

Is an event planning business profitable?

How profitable your business will be depends on a variety of factors. If you’re able to charge a lot for your services while keeping costs down, you’re likely to make a pretty profit . However, if costs are high and you aren’t able to book big-ticket events, your event planning business is likely to be less lucrative.

How do I start an event planning business with no money?

You can easily set up an event planning business with little to no startup money. If you keep the operation small and work as a sole proprietor, there’s no need to register the business or set up a merchant bank account. That said, this route does limit the opportunity for growth. So you may want to explore the pros and cons of different business structures, as well as the tools you need to run them.

Do event planners use their own money?

When it comes to setting up an event planning business, event planners usually use a combination of their own seed money as well as loans and third-party investments. For the actual event planning, they will usually use the client’s money (secured as a deposit) and will have credit agreements with suppliers who the planner will pay when the client settles the balance of their account with them.

Pay.com makes it simple for you to accept credit cards, debit cards, and a variety of other payment methods. You can easily invoice your customers, take their card details over the phone, or let them pay through your website.

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Are you passionate about creating memorable experiences and have an eye for detail? Starting your own event planning business could be the perfect venture for you. Launching an event planning business is an exciting decision, but remember that cutting through the clutter and connecting with your target audience is crucial. 

Often, generic advice falls short of addressing the real challenges you as an aspiring event planner face. In this guide, we’ll explore a proven framework to kickstart your event management business successfully.

But let’s start with the basics and slowly build up your journey to teach you how to start an event management business. 

What is an Event Management Business?

An event management business involves the planning, organizing, and execution of various events, ranging from weddings and corporate conferences to festivals and private parties. Event planners play a crucial role in ensuring that these occasions run smoothly, leaving a lasting impression on clients and attendees alike.

The Benefits of Starting an Event Management Business in 2024

As we step into 2024, the events industry is witnessing a resurgence with a growing demand for unique and personalized experiences. Here are some compelling reasons to consider starting your event planning business this year:

• The events industry is rebounding, with an increasing number of people eager to celebrate milestones and create memorable moments.
• Diverse events, from virtual experiences to in-person gatherings, offer a wide range of opportunities.
• Clients are seeking innovative and personalized event experiences, providing a platform for creative entrepreneurs to shine.
• The demand for unique themes, decor, and entertainment options is on the rise.
• Event planning allows for flexible working hours, making it an attractive option for those seeking work-life balance.
• Independence in decision-making and the ability to choose clients and projects.

How to Start an Event Management Business in 13 Steps

• Understand the event management market
• Assess and improve your event planning skills
• Market research and event planning business market fit
• Starting an event management business & choosing your niche
• Business structures to consider when starting event planning business
• Creating irresistible event planning solution
• Writing an event planning business plan
• Initial and ongoing expenses for event management business
• Figure out the booking process for your event planning business
• Set up prices with a healthy profit margin
• Promoting your event management business
• Selling your event planning services
• Growing and scaling your event planning business

Understand the Event Management Market

To truly understand the event planning market, you must immerse yourself in its dynamics. This involves staying informed about the latest trends, emerging technologies, and shifts in consumer behavior. Analyze how global and local events impact the industry, keeping an eye on event statistics and other crucial data. 

Let’s see some examples of market dynamics when it comes to event planning business:

• Rise of Virtual Events

With the increasing prevalence of virtual experiences, understanding how to integrate technology into traditional event planning is crucial.

• Sustainability Trends

The growing emphasis on eco-friendly events requires an awareness of sustainable practices in event management.

Events planning challenges

Every industry has its challenges, and event management is no exception. Acknowledging these challenges is the first step in overcoming them. Challenges may include budget constraints, unexpected logistical issues, or dealing with unforeseen changes in event requirements. Anticipating and planning for these challenges will set you apart as a prepared and resilient event planner.

Trends come and go, and it’s on you to make the most out of them. Whether it’s incorporating experiential marketing, interactive elements, or thematic designs, trends influence client expectations. By understanding and leveraging these trends, you position yourself as a forward-thinking and creative event planner.

Putting insights into action

Identifying the untapped potential within the market is where strategic planning comes into play. Consider the demographics of your geographical area, the types of events in demand, and the gaps in services offered by competitors. Conduct surveys, engage in networking, and seek feedback to uncover opportunities for growth.

Assess and Improve Your Event Planning Skills

Before you start chasing new shiny ideas and dive into external avenues for skill enhancement, begin with a thorough self-assessment. Reflect on your past events, identifying both strengths and areas for improvement. Consider seeking feedback from clients, vendors, or colleagues to gain valuable insights into your performance.

Enhancing your event planning skills

Formal education and structured learning play a pivotal role in skill enhancement. What can you do to enhance your event management skills ? Explore workshops, seminars, and online courses that cover various aspects of event planning. These educational opportunities can provide in-depth knowledge, from event design principles to the latest in event technology.

Another great strategy is connecting with seasoned professionals in the event planning industry who can offer invaluable mentorship. A mentor can provide guidance based on their experiences, share industry insights, and offer constructive feedback. Consider joining mentorship programs or networking events to establish mentor-mentee relationships.

While theoretical knowledge is essential, hands-on experience remains unparalleled in its ability to hone event planning skills. Actively seek opportunities to work on a diverse range of events, from weddings to corporate conferences. Practical experience not only solidifies your skills but also builds confidence in managing various event scenarios.

In 2024, proficiency in event management tools and software is a valuable skill. Familiarize yourself with event planning software, project management tools, and virtual event platforms. Technological literacy enhances efficiency in tasks ranging from guest list management to creating immersive virtual experiences.

Market Research and Event Planning Business Market Fit

Begin your market research by gaining a comprehensive understanding of the current state of the event planning industry. Analyze market trends, identify key players, and assess the demand for various types of events. Consider factors such as geographic location, demographics, and socio-economic trends that might influence the market dynamics.

What can you do?

• Explore reports from event industry associations and market research firms for a macro view of trends.
• Study the strategies, strengths, and weaknesses of established event-planning businesses.

Image by vector4stock on Freepik

The next step is to narrow down your focus by clearly defining your target audience. Consider demographic factors such as age, income level, and interests. Understanding your audience allows you to tailor your services to meet their specific needs and preferences. It’s not a one-size-fits-all approach; different demographics have distinct preferences and expectations. Conduct market research to create detailed buyer personas, encompassing factors like age, interests, and spending capacity.

Crafting buyer personas for event planning business

• Develop detailed profiles of your ideal clients.
• Consider factors like their event goals, preferred communication channels, and budget constraints.

Beyond demographics, explore the specific preferences of your target audience. Whether it’s the aesthetic choices for a wedding or the interactive elements for a corporate conference, aligning your services with what resonates with your clients ensures a more personalized and satisfying event experience.

You also need to dive deep into the needs and pain points of your potential clients. What challenges do they face when planning events, and what solutions are currently lacking in the market? By identifying these pain points, you can tailor your services to address specific gaps in the industry.

Crafting your Unique Selling Proposition (USP)

Once you’ve identified all these aspects, it’s time to craft your unique selling proposition. Armed with insights from your market research , articulate a unique value proposition that sets your event planning business apart. Your value proposition should communicate the specific benefits and advantages clients gain by choosing your services over competitors.

Let’s see the key components of a value proposition for an event planning business:

• Highlight any specialized skills, certifications, or expertise that distinguish your business.
• Emphasize unique solutions or approaches that address specific market needs.
• Communicate a commitment to exceptional customer service and personalized experiences.

Is there something else you can do? Well, of course!

Analyze competitor strategies

Evaluate the strategies employed by competitors to gain insights into how competitive the event planning industry is. Identify areas where competitors may be falling short or where you can differentiate your business. This analysis informs your positioning within the market. This leads us to the next step you should take when starting an event planning business:

Complete SWOT analysis

Conducting a SWOT analysis—a comprehensive examination of your business’s internal and external factors—provides a roadmap for making informed decisions and optimizing your chances of success.

Identify the internal factors that give your event planning business a competitive edge. These are the attributes and capabilities that set you apart and contribute to your success in the market.

• Expertise and Skills

Highlight any specialized event planning skills or certifications you possess.

Emphasize your creative approach to designing and executing events.

• Industry Connections

Showcase relationships with reliable vendors, venues, and other industry professionals.

• Technology Adoption

If you leverage event planning software or technology, consider it a strength.

Examine the internal factors that may pose challenges or limitations to your event planning business. Recognizing and addressing weaknesses is crucial for sustainable growth.

• Limited Experience

If you’re new to event planning, acknowledge the learning curve and outline plans for skill enhancement.

• Resource Constraints

Lack of financial resources, staff, or equipment may be a weakness.

• Niche Limitations

If your expertise is limited to specific event types, address plans for diversification.

Opportunities

Explore external factors in the market that can be advantageous for your event planning business. These are areas where your business can grow and thrive.

• Growing Demand

Identify emerging trends or increasing demand for certain types of events.

• Collaborations

Explore opportunities to collaborate with other businesses or professionals in the events industry.

• Technological Advancements

Leverage new event planning tools or technology trends to enhance your services.

• Market Gaps

Identify gaps in the market that your business can fill.

Evaluate external factors that could potentially pose challenges or threats to your event planning business. Being aware of these threats allows you to proactively mitigate risks.

• Economic Downturn

Economic challenges may impact clients’ budgets for events.

• Intense Competition

A saturated market with numerous competitors may pose a threat.

• Changing Regulations

Stay informed about any legal or regulatory changes affecting the events industry.

• Seasonal Fluctuations

If your business is impacted by seasonal demand, plan for potential idle periods.

Starting an Event Management Business & Choosing Your Niche

Starting your event management business is scary, but exciting. Choosing your niche is crucial. You can always pivot to another niche, but getting it right on the first try will give you the headstart you need for successfully starting your event planning business. 

Defining your niche is like setting the stage for your business, allowing you to tailor your services to meet the unique demands of a specific market segment. Here’s a guide on how to navigate this crucial aspect of launching your event management business.

• The first step in choosing your niche is to identify the type of events that genuinely excite and inspire you. Whether it’s the romance of weddings, the sophistication of corporate gatherings, or the vibrant energy of social events, aligning your business with your passion sets the foundation for long-term success.
• While passion is paramount, it’s essential to evaluate the market demand for your chosen niche. Research the local and global trends to understand the current and future needs of potential clients. A niche with a growing demand ensures a steady stream of opportunities for your business.
• Evaluate your skills, expertise, and previous experiences in event planning. Your professional background and knowledge can influence the type of events you’re well-equipped to handle. Leverage your strengths to carve a niche that showcases your unique capabilities.
• Analyze the level of competition in different event planning niches. While a saturated market may present challenges, it also indicates a viable demand. Assessing the competitive landscape helps you identify gaps or opportunities for differentiation.
• Once you’ve chosen your niche, tailor your services to cater specifically to the needs and preferences of that market segment. This involves customizing your approach, packages, and offerings to align with the unique requirements of the events within your chosen niche.
• Craft a brand identity that resonates with your chosen niche. This includes developing a compelling brand story, creating a visually appealing brand image, and adopting a tone of voice that connects with your target audience.

Business Structures to Consider When Starting an Event Planning Business

When starting an event planning business, the crucial decision you’ll need to make is determining the legal structure of your venture. The choice of business structure significantly impacts various aspects, including taxation, liability, and the overall management of your business. But what options do you have?

Sole Proprietorship

A sole proprietorship is the simplest and most common form of business structure. In this setup, you are the sole owner and operator of the event planning business. It’s an ideal choice for solo entrepreneurs or small businesses with minimal anticipated risks.

Limited Liability Company (LLC)

An LLC combines elements of both a sole proprietorship and a corporation. It provides a degree of personal liability protection while maintaining simplicity in terms of operation. LLCs are a popular choice for small to medium-sized event-planning businesses.

Partnership

A partnership involves two or more individuals sharing ownership and responsibilities. There are two primary types: general partnerships (equal sharing of responsibilities and liabilities) and limited partnerships (one general partner with unlimited liability and limited partners with liability restricted to their investment).

Corporation

A corporation is a separate legal entity from its owners. It is owned by shareholders, managed by a board of directors, and operated by officers. Corporations are suitable for businesses with significant growth ambitions.

Creating an Irresistible Event Planning Solution

Before you start an event planning business you need to understand that the key to success lies in offering a solution that not only meets but exceeds the expectations of your target audience. Consider the following aspects and thoroughly go through them to create an irresistible event-planning solution for your clients:

• Your event planning solution should not only meet industry standards but surpass them. Clearly articulate and showcase what sets your services apart from competitors. Whether it’s a signature planning process, exclusive vendor partnerships, or a track record of delivering extraordinary experiences, emphasize these unique selling propositions in your marketing materials.
• Leveraging technology can elevate your event planning solution. From online event management platforms and event management plugins to virtual planning tools and social media integration for real-time updates, embracing technology enhances both the planning process and the overall event experience.
• Clear and effective communication is the backbone of successful event planning. Ensure that your solution includes robust communication channels to keep clients informed and involved. Additionally, fostering strong collaborations with vendors, venues, and other stakeholders contributes to a seamless and well-coordinated event execution.
• One size rarely fits all in the world of events. Offering personalized and customizable solutions allows clients to feel a sense of ownership and involvement in the planning process. Whether it’s custom décor, unique entertainment options, or personalized event timelines, the ability to tailor your services adds a distinctive touch.
• Consider how you can infuse creativity into your event planning services. This could involve staying updated on the latest trends, incorporating unique themes, or introducing innovative technologies to enhance the overall event experience.
• No two events are alike, and recognizing this fact is crucial in creating a solution that resonates with your clients. Tailor your services to cater to the specific needs of your chosen niche. Whether it’s weddings, corporate events, or social gatherings, having specialized packages or customized offerings adds a personal touch that clients appreciate.

Writing an Event Planning Business Plan

Image by storyset on Freepik

A comprehensive business plan is the foundation of a successful event planning business. It serves as your roadmap, guiding your business toward its goals while providing a clear and strategic direction. Here’s how to develop an effective event planning business plan that outlines your vision, target market, marketing strategy, and financial projections.

Vision and goals 

Begin by articulating your business’s vision and mission. What do you aim to achieve with your event planning services? Outline short-term and long-term goals that provide a clear trajectory for your business. Whether it’s becoming a prominent wedding planner in your region or specializing in large corporate events, defining your goals sets the tone for the entire plan.

Target market

Understanding your target market is fundamental to the success of your event planning business. Define your ideal clients, considering factors such as demographics, preferences, and spending capacity. Tailor your services to meet the specific needs and expectations of your identified market segments.

Marketing strategy

Your marketing strategy is the bridge between your event planning services and your target market. Clearly outline how you intend to promote your business. This may include digital marketing efforts such as social media campaigns, website optimization, and content marketing. Traditional methods like networking, partnerships, and attending industry events should also be considered.

Service packages

Detail the range of services your event planning business will offer. Whether it’s full-service event coordination, day-of coordination, or specialized service packages for weddings, corporate events, or social gatherings, clearly articulate what sets your services apart. Highlight any unique features or value additions that distinguish your offerings.

Competitive analysis

Analyze the competitiveness of the event planning industry in your target area. Identify key competitors, their strengths and weaknesses, and the unique selling propositions that set them apart. Use this information to refine your own strategy and identify opportunities for differentiation.

Financial planning

Create detailed financial projections for your event planning business. This should include startup costs, operational expenses, and revenue forecasts. Outline your pricing strategy and justify your rates based on market research and the value you provide. A realistic and well-researched financial plan instills confidence in potential investors and serves as a guide for your financial management.

Risk analysis and mitigation

Anticipate potential challenges and risks that your event planning business may encounter. This could include market fluctuations, unexpected expenses, or industry-specific challenges. Develop strategies to mitigate these risks and ensure your business remains resilient in the face of uncertainties.

Operational plan

Detail the day-to-day operations of your event planning business. This includes staffing requirements, vendor management processes, client communication protocols, and any technology or tools you plan to leverage. A well-structured operational plan ensures efficiency and consistency in service delivery.

Executive summary

Summarize the key components of your business plan in an executive summary. This concise overview provides readers with a snapshot of your business, making it an essential part of any business plan presentation or proposal.

Initial and Ongoing Expenses for an Event Management Business

How much does it cost to start an event planning business? Estimating both initial and ongoing expenses is crucial for ensuring the financial sustainability of your event planning business. Let’s see the key areas you need to consider when planning your budget.

Initial expenses for starting an event management business

• Evaluate rental costs for office space. This could be a dedicated office, a co-working space, or even a home office setup.

Pro tip : Start modestly and scale up as your business grows

• Factor in the cost of essential equipment like computers, printers, and office supplies.

Pro tip: Consider second-hand equipment initially to manage costs.

• Allocate funds for website development, business cards, and initial marketing efforts.

Pro tip: Leverage cost-effective digital marketing channels initially, such as social media and content marketing.

• Budget for workshops, courses, or certifications to enhance your event planning skills.
• Account for fees related to business registration, permits, and licensing.

Ongoing expenses for event planning business

• Explore event management software and tools to streamline your operations.

Pro tip: Start with essential tools, such as an event management plugin , and scale up based on your business needs.

• Include ongoing expenses like electricity, internet, and office maintenance.
• Allocate a portion of your budget for ongoing marketing efforts to promote your services.
• Budget for insurance coverage to protect your business from unforeseen circumstances.
• Set aside funds for attending industry events, networking, and collaborating with other professionals.
• Dedicate funds for continuous learning and staying abreast of industry trends.

Remember: Always include a contingency fund to address unexpected expenses.

Figure Out the Booking Process for Your Event Planning Business

A streamlined booking process is not just a convenience it’s a key component of delivering a stellar client experience. Here’s a comprehensive guide to help you figure out the booking process for your event planning business and ensure a seamless journey for your clients. A professional event management plugin can be a game-changer for your business. Here’s how:

• Efficient Workflow

Streamline your workflow with features like automated appointment scheduling, invoice generation, and client communication.

• Customization

Tailor the plugin to match your unique services, ensuring a personalized booking experience for clients.

• Data Security

Ensure the security of client information and transactions with a reliable plugin.

• Time-Saving

Free up time by automating repetitive tasks, allowing you to focus on delivering high-quality services.

Investing in a professional event management plugin not only modernizes your booking process but also positions your business as tech-savvy and client-focused.

What else can you do to make the booking process smooth for your new event planning business?

• Utilize the customization features of the plugin to tailor the booking process to your specific services and client requirements.
• Offer free initial consultations to understand clients’ needs and preferences.
• Tailor your services based on the insights gained during consultations.
• Invest in an efficient booking system that allows clients to easily select services, choose dates, and make payments.
• Provide a transparent pricing structure for your services. Consider creating tiered packages or customizable options.

Set up Prices With a Healthy Profit Margin

Setting up prices with a healthy profit margin is a crucial aspect of running a successful event-planning business. Your pricing not only needs to cover expenses but should also reflect the unique value and expertise you bring to your clients. Let’s explore effective strategies to help you determine prices that ensure financial sustainability and growth.

The first thing you need to do is to consider the unique value proposition that sets your event planning business apart from competitors. This could be your expertise in handling specific types of events, personalized services, or innovative event concepts. Price your services based on the perceived value you offer to clients. If your services are known for exceptional quality, creativity, or attention to detail, clients are likely to be willing to pay a premium.

The next step is to research and analyze the pricing strategies of competitors in your area. Understand the average pricing for similar services and assess whether your offerings align with, exceed, or differentiate from the competition.

Once you’re done with that, it’s time to clearly define your profit margin goals. Determine the percentage of profit you aim to achieve for each event. This goal should not only cover your expenses but also contribute to business growth and development.

Remember: Strive for a balance between competitiveness and profitability. While it’s essential to remain competitive in the market, undervaluing your services can lead to long-term financial challenges.

Start Promoting Your Event Management Business

Promoting your event management business effectively is essential to attract clients and establish a strong market presence. Let’s see the strategic approaches to develop a robust online presence and leverage digital marketing to reach a wider audience.

First impressions matter

Your website serves as the digital face of your event management business. Invest in a professionally designed website that reflects your brand identity and showcases your portfolio of successful events.

Blog content

Establish a blog on your website to regularly publish informative and engaging content related to event planning. Share insights, trends, and success stories to position your business as an industry authority.

Visual portfolio

Create a visually appealing portfolio featuring highlights from your previous events. Include high-quality images and detailed descriptions to showcase your capabilities and style.

Choose relevant platforms

Identify the social media platforms most frequented by your target audience. Whether it’s Instagram, Facebook, Twitter, or LinkedIn, maintain active and engaging profiles on these platforms.

Visual storytelling

Utilize the visual nature of social media to tell compelling stories about your events. Share behind-the-scenes glimpses, client testimonials, and updates about upcoming projects.

Keyword optimization

Incorporate relevant keywords throughout your website content to enhance its visibility on search engines. Identify and target keywords specific to event planning and your niche.

Optimize your online presence for local searches by including location-specific keywords. This is crucial for attracting clients in your geographical area. This is crucial for attracting clients in your geographical area, so make sure to take your time learning local ranking factors to ensure your business stands out in local search results.

Claim your business

Claim and optimize your Google My Business listing. Ensure that all information, including your business hours, contact details, and photos, is accurate and up-to-date.

Client reviews

Encourage satisfied clients to leave positive reviews on your GMB profile. Positive reviews enhance your credibility and attract potential clients.

Build a subscriber list

Create a mailing list by encouraging website visitors to subscribe to your newsletters. Use incentives such as exclusive event planning tips, industry insights, or promotional offers.

Targeted campaigns

Develop targeted email campaigns to reach different segments of your audience. For example, send newsletters with wedding planning tips to engaged couples and corporate event ideas to businesses.

Start Selling Your Event Planning Services

Selling event planning services involves more than just showcasing your skills; it’s about telling a compelling story that resonates with potential clients. Let’s explore effective strategies to sell your event planning services, emphasizing expertise, success stories, and the power of testimonials.

Your portfolio is a visual narrative of your expertise. Showcase a diverse range of events you’ve successfully planned, including weddings, corporate functions, and social gatherings.

Testimonials

Request feedback from satisfied clients and showcase their testimonials prominently on your website. Include specific details about their experience, the success of the event, and your role in making it happen.

Case studies

Develop in-depth case studies for select events. Provide a comprehensive overview, detailing the challenges you faced, innovative solutions implemented, and the overall success achieved.

Industry expertise showcase

Establish yourself as a thought leader in the event planning industry. Share your insights, trends, and best practices through blog posts, articles, and participation in industry forums.

Personalized client engagement

When pitching your services to potential clients, customize your presentations to address their specific needs and expectations. Show them that you’ve thoroughly researched and understand their requirements.

Develop client relationships

After successfully executing an event, follow up with clients to gather feedback and express your appreciation. This not only helps in refining your services but also strengthens the client relationship.

Growing and Scaling Your Event Planning Business

As your business matures, consider diversifying the types of events you plan. If you’ve primarily focused on weddings, explore opportunities in corporate events, conferences, or specialized gatherings. This not only broadens your market reach but also mitigates risks associated with reliance on a single event category.

• Evaluate your current operational processes and identify areas for improvement. Implement efficient workflows and leverage technology to automate repetitive tasks. By streamlining operations, you can handle increased demand without compromising on quality.
• As your business expands, building a capable team becomes essential. Hire skilled professionals , including event planners, coordinators, and administrative staff. A diverse and talented team contributes to the overall success and efficiency of your operations.
• Entrust responsibilities to capable team members and empower them to take ownership of specific tasks. Delegating effectively not only lightens your workload but also fosters a collaborative and motivated work environment.
• Develop comprehensive standard operating procedures (SOPs) for various aspects of event planning. Clearly document processes related to client communication, vendor management, and onsite coordination. Standardized procedures ensure consistency and quality across all events.
• Identify opportunities for strategic partnerships with businesses that complement your services. This could include collaborating with catering companies, floral designers, or audio-visual experts. Such partnerships enhance your service offering and can lead to mutual referrals.
• Attend industry conferences and networking events to connect with other professionals and stay informed about industry trends. Networking provides valuable insights, potential collaborations, and opportunities for business growth.
• Actively seek feedback from clients after each event. Use this feedback to identify areas for improvement and address any concerns. Demonstrating a commitment to continuous improvement reinforces your dedication to client satisfaction.

Invest in a Top-Notch Event Management Plugin

Meet Amelia, the WordPress Event Calendar and Event Management Plugin that transforms the way you organize virtual and offline events, conferences, meetups, and more. 

Why choose Amelia as your event planning plugin?

Let’s see the key features of Amelia that will help you kickstart a successful event-planning business:

Responsive and customizable

Amelia is a responsive and customizable WordPress event management plugin designed for various event types. Whether you’re an event agency or conference host, Amelia caters to your specific needs.

Recurring events made easy

One standout feature is the ability to set recurring events with various options. Whether it’s a weekly meeting, monthly conference, or an annual gala, Amelia’s clear calendar view helps you manage them effortlessly.

Seamless booking pages

Create booking pages effortlessly using shortcodes or popular page builders like Divi, Elementor, or Gutenberg blocks. With Amelia, your event booking page can be ready in minutes.

Flexible deposit payments

Amelia allows you to set up deposit payments, enabling attendees to pay a partial amount upfront and the rest upon arrival. This flexibility is especially beneficial for on-site events.

Multilingual support

Hosting events in different languages? Amelia has you covered with its translation option, providing a seamless booking experience for your international audience.

Dynamic ticketing

Set different ticket prices based on attendees’ profiles or the date of purchase. Offer early bird tickets, special prices for adults and kids, and control when sales open and close.

Filter and sort with ease

Create event tags and use different colors to distinguish event types, facilitating easy navigation for both organizers and attendees.

Calendar integration

Amelia integrates with Google Calendar and Outlook, ensuring hosts stay organized, and attendees can add events to their calendars with ease.

Which key features of Amelia simplify event hosting?

Virtual sessions and online events.

Amelia caters to the modern trend of hosting events online . With native integrations with Zoom and Google Meet, organizing virtual conferences becomes a breeze.

SMS and Email Reminders

Ensure a high attendance rate with SMS and email reminders, keeping both organizers and attendees in the loop.

Customer and Employee Panels

Manage all aspects of your event, from attendees to venues, with comprehensive customer and employee panels.

Insightful Admin Dashboard

Get real-time insights into key performance indicators with an admin dashboard that streamlines event management.

Fully Customizable Design

Tailor Amelia to your brand with fully customizable design options for seamless integration with your website.

Custom Fields for Booking Forms

Collect specific information by adding custom fields to your booking forms, enhancing the overall booking experience.

Try Amelia Today

Join the ranks of over 30,000 event businesses that trust Amelia for their events calendar. Explore pricing options and see demos to discover how Amelia can elevate your event planning experience!

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How To Start An Event Planning Business

• Last Updated: January 15, 2024
• By: Greg Bouhl

Advertising Disclosure

For many people, planning an event is challenging and stressful, and that’s why event planners are in demand. So, if you have a passion for planning and love bringing people together, starting an event planning business may be perfect for you.

Starting an event planning business isn’t just about knowing which fork goes where on the table setting, but with the right knowledge and preparation, you can turn your skills into a fun and profitable business. That’s why we’ve put together this guide on how to start your very own event planning business. This guide will not only provide you with an overview of the business and the industry, but it will also give you step-by-step guidance and answer common questions.

Business Overview

Event planning businesses help corporations, businesses, and individuals to plan and execute all kinds of events like weddings, birthday parties, graduations, celebrations, retreats, product launches, and conferences. An event planner typically works closely with the event’s host for months leading up to the event, and they’re tasked with ensuring that the event runs smoothly. Most event planning businesses offer a relatively full-service program where they manage nearly every aspect of an event, from coordinating with caterers to planning the event’s layout and decor with the venue.

Some event planners work independently, establishing their own businesses, and working entirely by themselves. Others will start their own businesses and develop a team of planners for large-scale events or increased project volume. Many event managers will establish relationships with caterers, decorators, florists, and other industry professionals. These existing relationships can help with future event planning and are one of the ways that planners add value to each job that they do.

Getting into the event planning industry is relatively easy since there aren’t many requirements and there are minimal startup costs. But because it’s easy to get into the industry, you’ll probably face lots of competition no matter where you’re located. This means it’s important to find a way to differentiate your business from others, whether with a unique skill set, specialization in certain types of events, or something else you can offer that other businesses don’t.

Related Business Ideas

Bridal Store Catering Home Staging Interior Design Marketing Consulting Party Rental Photo Booth See the full library of business ideas >>

Industry Summary

From 2018 to 2022 (which included Covid shutdowns), the party and event planning industry  experienced an average decrease of 4.1% annually, according to research from IBISWorld. In 2023, the 112,000 party and event planning businesses are expected to generate $5.6 billion in revenues.

The industry is poised for future growth due to a few main reasons. One, the increased overall busy nature of American lives tends to leave more people with less time, making them more likely to hire help rather than attempt to throw an event by themselves. Secondly, with the rise of social media, people are constantly sharing their pictures and videos of events, making events more important than ever before. This means that there are plenty of opportunities for event planners to enter and grow in the market.

Industry Trends

The event planning industry is constantly evolving, with new trends emerging every year. In recent years, there has been an increase in demand for personalized and unique experiences. People want events that are tailored to their specific tastes and interests.

Event planners also need to be aware that the focus on event sustainability is continuing. Many event hosts and attendees increasingly value eco-friendly decor, plant-based catering, and the use of recycled materials. The more strategies an event planner has to make events sustainable, the better they’ll keep up with this important trend.

Unfortunately, another significant trend is the need for event security. This includes everything from onsite security, cybersecurity, and emergency communications plans. An emergency plan needs to be in place for every event, especially larger corporate events that draw significant crowds. These security needs may add one more element to an event planner’s to-do list, but this is also a precaution that modern-day events can’t afford to go without.

Steps To Start An Event Planning Business

With the proper groundwork and research, you can start an event planning company that allows you to pursue your passion. Here are some of the key steps to follow.

Step 1: Market Research

You’ve got the skills, the drive, and the vision – and now you’re all set to start your business. But wait, before you print those business cards or design your website, let’s take a step back. Doing your homework in the form of market research can help guide you on whether there’s enough demand for another event planning business like yours, potentially saving you from an expensive mistake.

To start, you need to identify your target market and the types of events you want to specialize in. Whether it’s weddings, corporate events, or fundraisers, conducting research into the demand for these events in your local area is needed. By doing so, you’ll be able to identify your potential clients and see if there is a need for another event planning business in your area. The key here is to gather data that will allow you to make informed decisions about your business plan.

Next, you want to gain a better understanding of the event planning landscape in your area by examining your local competition. Search online directories and industry publications to find other planners in your area. See what services they offer, their pricing, and brand identities. This can help you identify unmet needs or niches that you can fill in the market. You can also use this knowledge to differentiate your business and offer unique services that will set you apart from your competitors.

Another aspect of market research is connecting with venues and vendors in your local area. Venues can provide valuable information about their average booking rates, peak seasons, and the type of events they host. This information can help you tailor your services to meet the demands of your target market. Also, reach out to vendors to see if they have planner recommendations and insights. You can leverage these partnerships to establish your reputation in the community and increase your network.

Step 2:  Write a Business Plan

You’ve gauged the market, the demand looks promising, and you’re ready to turn your event planning dream into a reality. Your next move? Crafting a detailed business plan. Think of this document as your roadmap, one that outlines everything from your revenue streams to your marketing strategies. But it’s more than just a checklist; it’s a reality check. With a well-thought-out business plan, you’ll project your income and expenses, enabling you to estimate whether this venture is truly feasible.

Related:  How to write a business plan

Step 3:  Source Funding

The next piece of the puzzle is gathering the funds needed to get started.

The most straightforward way to fund your business is through personal savings. Before you dip into your account, make sure to calculate all startup and operating expenses to see if your savings will cover them. If personal funds aren’t enough to get started, you will need to look for outside funding. Some of the most common sources for an event planning business include:

Loans from family and friends: People who are close to you and believe in your vision may be willing to lend you money at low or no interest to help get your business going. Be sure to put a formal agreement in place to avoid misunderstandings that could strain relationships.

Business credit cards: If you need to spread out some of your initial costs, a business credit card can come in handy. They’re easy to use and can help you build business credit. But be careful: the convenience comes at a price, often in the form of high interest rates. Always have a plan to pay off your balance as quickly as possible to minimize interest payments.

Small business loans and lines of credit: Traditional lenders like banks, as well as alternative lenders, offer various types of small business loans. These could range from term loans to SBA-guaranteed loans and business lines of credit.

Microloans: If you find that your funding needs are on the smaller side or if traditional credit options aren’t available to you, consider a microloan. These are smaller loans offered by economic development organizations. The bonus? Some microloan programs also offer business training, which can help you not just financially but also operationally.

Related:  Finding the money to start a business

Step 4:  Register the Business

Starting an event planning business involves taking care of several legal steps, including selecting a business structure, registering your business name, and acquiring the necessary licenses and permits. Here’s an overview to help you navigate through this section.

Choose a business structure: Before you register your business, you’ll need to decide on the type of business structure that best suits your needs. The four primary types are sole proprietorship, general partnership, corporation, and Limited Liability Company (LLC).

• Sole proprietorship: The advantage of this structure is the ease of startup and lower costs. You are the business, and it’s straightforward to set up. However, your personal assets could be at risk if the business incurs debt or is sued.
• General partnership: Similar to a sole proprietorship but involves two or more people. Each partner shares the profits, losses, and management of the business.
• Corporation: This structure provides protection if the business is sued, but is complex and costly to set up.
• Limited Liability Company (LLC): Combines features of both the corporation and sole proprietorship/partnership. It provides personal asset protection of a corporation, but is easier to administer.

For many event planning startups, an LLC tends to be a popular choice due to the mix of liability protection and operational flexibility. But state regulations can vary, so do your homework.

Related: Comparison of business structures

Forming an LLC sounds complicated and expensive, but using an entity formation service guides you through the process so you know it was done right.

Some popular LLC formation services include:

IncFile  - $0 plus state fees & free registered agent for 1 year!

ZenBusiness  - Best for beginners. $0 plus state fees & free registered agent for 1 year!

Northwest  - Best privacy protection. $39 plus state fees & free registered agent for 1 year!

Business name registration: After registering the business structure, you may need to register your business name. This process will vary depending on what business structure you pick. Sole proprietors and partnerships will often be required to register a “Doing Business As” (DBA), while corporations and LLCs register with the state during the formation process.

Related:  Tips and ideas for naming an event planning business

During this time, it’s also a good idea to check if the name you want is available as a web domain, even if you’re not ready to set up a website yet.

Related: Finding a domain name for your business

Obtain business licenses and permits: Finally, you’ll need to procure any necessary business licenses and permits. The requirements vary by state, county, and city, and can include a general business license, zoning permits, or health department permits. If you’re hosting events, you may also need special event permits from the municipality where the event is being held, which are often required for large gatherings, outdoor events, or events that involve selling goods or services.

Related:  What licenses does an event planning business need?

Step 5:  Set Up Operations

Starting an event planning business takes more than a flair for throwing a great party. You also need to set up an efficient operational structure that helps you manage every detail, from the first client meeting to the wrap-up after the big event. Let’s walk through some key steps to get you up and running smoothly.

Finding the right space : Your work environment can set the tone for your productivity. Some planners opt for home offices to cut costs, but keep in mind that you’ll need a quiet space for phone calls and possibly even a dedicated area for client meetings. Renting an office or joining a coworking space are other routes you might consider, each with its own set of logistics and costs. The right choice often hinges on the types of events you’re planning and where your clients are located.

Equipment and supplies : Furnishing your workspace is the next step, but it’s just as important to have the right technology and supplies. From computers to projectors, think about what you’ll need to create presentations and communicate with clients and vendors. You’ll also need software tools to manage client data, handle invoicing, and facilitate payments. Various planning software exists to help keep track of all the details from a single platform, making your life much easier.

Vendor partnerships: Building strong relationships with vendors is key to running a successful event planning business. Research and connect with caterers, venues, rental companies, photographers, and other service providers in your area. These relationships can help ensure that you have reliable partners to deliver quality services to your clients.

Setting your prices : Last but not least, you’ll need to decide how you’ll charge for your services. Rates can vary based on experience, services provided, and regional norms. Whether it’s an hourly rate, a percentage of the event budget, or a flat fee, make sure your pricing structure is transparent and competitive, but also sustainable for your business.

Step 6: Create a Marketing Strategy

Marketing a new event planning business is both an exciting and challenging process. One of the first steps is to define what sets your business apart. In an industry that often has low barriers to entry, you’ll likely face stiff competition right out of the gate. That’s why it’s key to highlight your unique selling points. Maybe it’s your years of experience, a specialized focus like “eco-friendly events,” or an innovative service no one else offers.

The next phase is building a strong brand identity. Your name, logo, and website aren’t just cosmetic touches; they’re the first impression potential clients will have of your business. Also, having a visual and detailed portfolio can serve as a powerful tool in turning interested parties into loyal clients. So, invest the time and, if necessary, professional design services to get them right. Your marketing materials should reflect this brand identity and clearly convey your unique selling points.

Choosing the right marketing channels can feel like a gamble, but it doesn’t have to be. Think about where your potential clients are likely to spend their time. Is it Instagram, reading blogs, or at local networking events? Most businesses find that a mix of online and offline marketing works best. This can range from social media and email marketing to attending industry events and forming partnerships with other local businesses.

Speaking of partnerships, don’t underestimate the power of a strong professional network. Building good relationships with other event pros, like caterers, photographers, and florists, can lead to valuable referrals. You help them; they help you; everyone wins.

Step 7:  Prepare to Launch!

Starting an event planning business requires tackling several steps, and while we’ve covered the big steps like market research, business plans, and marketing, there are some equally important yet smaller tasks to attend to before opening your doors. Every business will have different needs, but here are some of the final tasks to consider:

Business insurance: One of the foundational pieces to put in place is business insurance, especially general liability insurance. Accidents happen, and this coverage can protect you from financial losses.

Setting up bookkeeping: Implementing a solid bookkeeping system is vital for managing your finances. This includes tracking income, expenses, and managing invoices and payments. Whether you handle this yourself or hire an accountant, make sure you have a reliable system for tracking income, expenses, and taxes.

Staffing: Are you planning to be a one-person show, or will you need to bring on other planners, assistants, or administrative help? Make these decisions early so you can budget and plan accordingly.

Contracts: Legal protection should not be an afterthought. Whether you consult with a lawyer or find reliable templates online, make sure you have contracts for both clients and vendors to set clear terms and protect your interests.

Opening a business bank account: It’s important to separate personal and business finances. Open a dedicated bank account for all business-related transactions.

Joining industry associations: Membership in groups like Meeting Professionals International (MPI), the Event Planners Association, or the National Association for Catering and Events can offer advantages like networking opportunities and professional development resources. These associations often provide valuable industry insights and can be a great way to meet potential partners or clients.

Common Questions When Starting An Event Planning Business

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

Starting an event planning service will typically cost between $2,000 to $6,000 when accounting for all initial expenses required to open for business.

Some of the key startup costs include:

Business registration fees and licenses: $0 to $500, depending on your state and local municipality requirements.

Equipment and supplies: Your basic setup will include a computer, printer, and phone, as well as possibly planning software. All told, you might be looking at anywhere from $1,000 to $3,000 initially. You’ll also need basics like furniture, which could cost another $500 or more.

Insurance: General liability insurance can cost between $400 and $600 annually for a small business, with initial payments often required upfront to start your coverage.

Marketing: You’ll need a website, business cards, and perhaps some initial online advertising to get the word out. Setting up a website could cost you as little as $200 if you do it yourself or up to $2,000 if you hire a professional. Business cards might run you around $50 for a decent batch. Initial marketing efforts, like a launch campaign on social media platforms, can cost another $300 or more.

Location costs: If you’re considering starting your own event business, it’s often recommended to start it out of your home rather than renting an office space. This approach can significantly cut down on overhead costs. However, if you choose to rent a workspace, you’ll need to account for the initial deposit, which can vary greatly depending on your location and the size of the space.

It’s also recommended to have three to six months of operating expenses available when first launching, which can mean raising $6,000 or more in additional capital.

How much can an event planning business owner make?

On average, event planners tend to charge a fee that is around 10-20% of the total event budget. So, for example, if an event costs $100,000, the planner may charge $10,000-$20,000.

According to industry statistics, the typical wedding in the US costs around $30,000. So, for a planner charging 15%, they would earn $4,500 for planning that wedding. If the planner organizes 25 weddings in a year at that rate, they would earn $112,500 in revenue.

Factoring in expenses like marketing, insurance, software fees, etc., of around $55,000 per year, the net profit for the event planning business would be approximately $57,500 for the year.

Keep in mind that these numbers are estimates and can vary. However, with proper pricing strategies and expense management, the potential for profit in event planning can be quite substantial.

What skills are needed to run an event planning business?

Starting an event planning business doesn’t require a business degree, but certain skills and experiences can increase the business’s chance of success.

Event planning experience or education:  Knowledge of event planning, its best practices, and experience in planning an event for others is important. A business owner might also have gone to college to study event planning, event planning certification, or have event management experience.

The ability to think clearly under pressure:  Even with the best planning, unexpected issues still crop up during an event. Event planners need to be able to think clearly under pressure, and they should be able to quickly find creative solutions to problems.

Attention to detail:  Planning events requires excellent attention to detail, including elements like logistics, time management, and budgets.

High degree of organization:  Event planners have to manage many moving parts to every event, and excellent organization is important during every step of the process to ensure that nothing gets missed or overlooked.

Negotiation:  Event planners will negotiate with suppliers, entertainment, and contractors to decrease their costs and ensure the client gets what they want.

Customer service skills:  Event planners will need to have plenty of interaction with their customers, so great customer service skills can build the planner’s reputation and increase customer satisfaction.

Strong interpersonal relationship skills:  An event planner will need to be able to work with many different people during the course of a single event, and many of these people won’t be the planner’s employees. The ability to build strong interpersonal relationships and work well with a variety of personalities is essential.

What is the NAICS code for an event planning business?

The NAICS code for an event planning business is either 561920 (event planners focusing on conventions and trade shows) or 812990 (event planners focusing on personal events such as wedding planning).

The NAICS code (North American Industry Classification System) is a federal system to classify different types of businesses for the collection and reporting of statistical data.

Related: What is a NAICS code?

Resources: Event Planners Trade Association & Club National Association for Catering and Events

174 Event Planning Business Name Ideas To Cheer For

What Licenses Does An Event Planning Business Need?

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How to start an event planning business

February 17, 2022

Step 1: Understand the job requirements

Step 2: find your niche, step 3: write a business plan, step 4: market your business, step 5: get insurance, get the party started, subscribe to greenlight by thimble..

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Whether you’re coordinating and facilitating a wedding, a conference, a trade show, or a corporate fundraiser, event planning is a high-pressure, high-stakes job.

It takes a whole lot of creativity, energy, organization, and people skills to thrive in the event planning industry—but if you have those qualities, being an event planner can be a career to celebrate. Knowing how to start an event planning business is your first order of business.

You may have already coordinated events on a smaller or ad-hoc scale. That experience will help you as you move forward in this industry. But launching an official party planning business requires jumping through legal and logistical hoops.

Think you have what it takes to become a professional party planner? (We think you do.) Here’s how to start an event planning business in 5 steps.

If you’re brand-new to the official event-planning industry, it’s easy to think that the job is all glitz, champagne, and celebrations. While that’s the result of your careful planning, things are a lot less glamorous behind the curtain. For any event, there are about a thousand boxes you (the professional planner) have to check off to ensure that everything runs smoothly for the client and attendees.

Those tasks may include, but aren’t limited to:

• Creating an event design or theme
• Arranging entertainment
• Finding the venue
• Booking vendors
• Sending RSVPs and marketing information to attendees
• Balancing a budget
• Coordinating with staff and subcontractors
• Decorating the space
• Handling the catering and bar staff
• Supervising the event

There are about a thousand more boxes to check off within each one of these tasks. The Type A personality type is well-suited to this line of work. You need to be:

• Detail-oriented
• Extremely organized
• An ace problem solver
• Have excellent communication skills.

Beyond that, you need to be a savvy negotiator, understand how to manage a budget, and know how to market your services. Especially if you’re a wedding planner, you must have high emotional intelligence to put nervous brides, grooms, wedding parties, and other starring attendees at ease in the midst of high-pressure situations.

If you’re not yet sure that your heart is fully in starting an event planning business on your own, it’s a good idea to give the job a test run. First, consider working as a personal or production assistant for an event planning company or experienced party planner. That way, you can see if the job is a good fit before you strike out on your own and find your corner of the business.

Once you’re clear on what the job entails, nail down your niche. Although you may be tempted to advertise yourself to prospective clients as a jack-or jill-of-all-trades, that’s actually not the best marketing strategy. A general title makes it much harder to distinguish yourself in a crowded market. Offering one type of service that you do really well demonstrates your expertise.

There are four primary types of events: social, corporate, nonprofit, and association—each with its own specializations. For example, managing a fundraising gala and coordinating a wedding are both social events, but they’re uniquely different jobs with distinctive requirements, challenges, and demands.

Once you’ve decided on your event specialization, consider your services. If you’re a wedding planner, for instance, will you offer full-service planning leading up to the wedding, or will you also offer day-of coordinating? Will you offer pre-wedding services such as showers, bachelor/bachelorette parties, and honeymoon planning, as well?

Perhaps you’ll eventually be able to offer a full range of event planning services. But when you’re just starting, narrow it down so you can perfect your flagship service. (Hint: that’s all part of your business plan.)

Writing a business plan is the next step to start a party planning business. Your business plan is a detailed guide outlining your business structure, what it offers, how it operates, its long- and short-term goals, and some crucial financial information.

Your business plan will not only help your business grow and reach important milestones, it can also attract funding. 1

Every business plan is different. Some are highly detailed for presenting to investors, and others act more as “road maps” that help the business owner organize a plan of action. At the very least, your preliminary business plan should address the following:

• What services your business offers
• How your business sets itself apart from competitors
• Your target market
• Your mission statement
• How you plan to evolve your business over the next few years
• Your business structure
• Your business budget
• How much money you have on hand, and how much you need to launch
• Your funding sources

Luckily, there are tons of business plan tools and templates available. Start by checking out the SBA’s guide to writing a business plan, which includes sample business plans. 2

You also need to make your business official. Start by coming up with a business name and choosing a business entity. Next,register your business with your Secretary of State, Business Bureau, or Business Agency, and gather any funding you need to get your business off the ground.

After you register your business, you have to invite customers to your party.

As an event planner, you’re probably naturally gifted at networking, so now’s the time to use those skills. Word of mouth is one of the most effective marketing skills in this industry. Scour your network for potential leads and send out a mass email to your contacts announcing your business. Ask happy customers to spread the word to their friends, family, colleagues, and social media followers.

With the vast majority of consumers conducting their browsing, socializing, shopping, and pretty much everything else online, having a website for your small business is non-negotiable.

Fortunately, there are website platforms that allow you to bundle a domain name and hosting services and create a website in just minutes. For this step, remember to take the following actions:

• Build your blog to improve search results
• Utilize SEO best practices throughout the site
• Design a site that’s visually appealing, clearly states what you do, and is tailored to your target audience
• Make the site easy and intuitive to navigate
• Be sure to include your contact information, links to your social media accounts, and a portfolio of your work

If you haven’t already done so, now’s the time to create social media accounts dedicated to your business. Instagram and Twitter are mainstays. But as your line of work is aesthetically driven, a Pinterest account can also be a great way to showcase your work and inspiration.

Big groups of people gathering together is inherently risky. A liability claim filed against your business could ground your event planning business before it even launches.

General liability insurance can cover you for liabilities like non-employee third-party bodily injury, third-party property damage, personal and advertising injury. It provides the investigation of a claim and even the defense of such claim if a client takes your business to court.

Thimble’s Event Insurance is the easiest and most flexible way to protect your business. You can choose a policy that covers you by the hour, day, month, or year, so you’ll only pay when you’re actually working an event.

Along with general liability coverage, Event Insurance offers the option to add liquor liability coverage , which provides coverage for legal fees and damages incurred because damage or injury caused by a third party as a result of alcohol consumption at your BYOB or open-bar event.

To get your quote, just download the Thimble mobile app or click “Get a Quote,” enter a few details about your business. When you purchase, you’ll receive your policy and as many certificate of liability insurance as you need via the Thimble app and email.

Now, you can run your business with the peace of mind you absolutely need to track down that missing vegetarian meal for the groom’s sister at Table One.

Before you bust out the bubbly, let’s quickly recap the five crucial steps to becoming a professional party planner:

• Understand the job’s extensive requirements. Ideally, work as an assistant to a party planner, or organize small-scale parties to gain hands-on experience.
• Pinpoint what types of events you’ll plan, and any other additional services you’ll offer clients.
• Write a business plan and follow through with foundational requirements, like registering your business and gathering funding.
• Network, create a website and social media accounts, and do whatever it takes to land your first client.
• Protect your business by purchasing general liability insurance.

As you go about launching your company, remember that success takes time. Stick to your business plan, work on building a clientele, create connections in the industry, and take calculated risks. Do that, and your parties will soon be the talk of the town.

• U.S. Small Business Administration. 5 Reasons You Need a Business Plan.
• SBA. Write Your Business Plan.

Our editorial content is intended for informational purposes only and is not written by a licensed insurance agent. Terms and conditions for rate and coverage may vary by class of business and state.

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How to Start An Event Planning Business From Scratch

Starting a new business in event planning can be a very profitable venture . However, it takes a lot of hard work and dedication to get started. In this blog post, we’ll teach you how to start an event planning business from scratch in 6 easy steps!

We’ll also provide tips on how to market your new company, advice on what services to offer your clients, the type of training you should get, and more. So, if you’re ready to start planning some amazing events, keep reading!

Frequently Asked Questions:

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

First thing’s first: you need to have an idea of the money required to build an event planning business. The cost of starting your business can vary, depending on a number of factors – such as the size of your company and the services you want to offer. However, in general, you’ll need to invest in some basic start-up costs, such as:

• A computer and/or laptop
• Telephone line and headset
• Business cards
• Business website

In a recent article published on  Shopify’s  blog, it was stated that in an entrepreneur’s first year of business, they’re likely to spend an average of approximately $40,000. Keep in mind that many of Shopify’s customers are business owners selling and shipping physical products from an online store. So, some of the data within this article may not necessarily apply to an event planning business owner. Still, the data within this blog post is definitely worth the read!

Additionally, you may also want to consider purchasing software that can help streamline your event planning process, such as wedding or event management software. How much you end up spending on start-up costs will largely depend on your specific needs and budget.

What Does an Event-Planning Entrepreneur Do Day-to-Day?

The next question to consider is: what does an event-planning entrepreneur typically do on a daily basis? How many hours will you be working each week? Will you have enough work to pursue this endeavor full-time?

The answers to these questions depend on a lot of things. (Although we can  say that the answer to that last question is a resounding YES!)

In general, an event planner is responsible for the organization and execution of a wide variety of events. This may include everything from weddings and corporate functions, to birthday parties and charity galas. An event planner will typically work with clients to get a clear understanding of their vision and budget, then develop a plan of action that meets both requirements.

Moreover, they’ll also be responsible for overseeing all aspects of the event on the day-of, from coordinating vendors to ensuring that everything runs smoothly.

It’s important to note that the job duties of an event planner can vary, depending on their level of experience and specialty. For example, if you’re just starting out in this industry, you may only have limited experience working with specific types of events. In this case, you might want to focus your business on providing services such as event planning consultation, venue scouting, or contract negotiation. As you gain more experience, you can then expand your services to include things like catering coordination, decor design, and even budget management.

For even more information on this particular subject, check out our blog article all about a day in the life of a wedding planner !

How can i start an event planning business with no experience.

Starting an event planning business with no experience can be a daunting task, but it’s not impossible! In fact, many successful entrepreneurs got their start in the event planning industry by starting small and gradually building their business over time.

One way to gain experience in the field is to volunteer your time at local events. This will allow you to learn about different types of events, as well as the logistics involved in putting together a successful event. You can also network with other professionals in the industry, attend workshops and webinars, and/or read books and articles on event planning.

Another option is to take online courses that specialize in event planning . These courses will teach you everything from how to plan corporate events, to wedding etiquette, to event decoration. They can also help you get started by providing tips on marketing strategies and business management. Furthermore, completing an accredited online course will also arm you with a reputable certification to add to your resume!

We’ll delve deeper into the type of online event planning training you should get a little later on in this article…

How Much Should I Charge for Event Planning Services?

There are many factors that go into pricing your event planning services. Some of the questions we recommend asking yourself include (but aren’t limited to):

• How long have you been in business?
• What are your qualifications as an event planner?
• How much in-field experience do you currently have?
• How many clients do you have at the moment?
• What type of events will you be working with (i.e. weddings, private parties, corporate functions, etc.)?
• Are you planning to launch your business with a team, or solo?
• If the former, how experienced are your staff members/team members when it comes to planning events?
• Do you specialize in any sought-after niches, or intend to?
• How much time does each client take up per month or year?
• How profitable is this particular industry within your region/niche market space right now?

Once these questions have answered, then you can better determine how much money it would cost you to run your company over a set period of time, such as the first year, years 2-5, and beyond. This article by  The Balance Small Business  provides further information on the topic of pricing your services. So, we recommend giving it a read!

What Type(s) of Services Do I Want to Offer My Clients?

When starting an event planning business, it’s important to decide which services you want to offer your clients. For example, will you be specializing in weddings? Corporate events? Social events?

You don’t have to limit yourself to one area! In fact, many event planners offer a variety of services, such as wedding coordination, theme design, catering management, and more. Either way, it’s important to choose the services that you’re comfortable with and that you know you can deliver on successfully.

Here are just some of the services you can offer your customers:

• Private event planning
• Wedding planning
• Destination wedding planning
• Luxury wedding and/or event planning
• Event decor
• Floral design
• Virtual event and/or wedding planning
• Corporate event planning
• Promotional event planning
• Travel and tourism services
• Festival and live event planning

Fun Fact: Did you know that QC Event School offers internationally-recognized training in ALL of the above events services? It’s true! Learn about our full list of self-paced, online courses here !

Alright, now that we have some of the most popular FAQs answered, let’s jump into the 6 steps involved in building an event planning business from scratch!

Step One: Get Trained and Certified as an Event Planner!

First thing’s first, you’re going to need training in this industry. Although technically,  event planning isn’t a regulated industry, this does NOT mean you won’t be  much  better off with proper training under your belt. In fact, we’d even argue that getting professionally certified is the single BEST way to become an event planner and achieve success!

When it comes to obtaining a solid event planning education, there’s no better option than to enroll in an accredited, internationally-recognized school! QC Event School, for instance, offers a variety of courses in multiple different areas of professional planning.

The best part? All of our programs can be completed at your own pace and right from the comfort of home!

Plus, our courses aren’t only geared towards those already working within the industry, who are looking to upskill or add additional services to their company. They’ve also been carefully designed for entrepreneurs who want to start their own business, too. In fact, this is why all of our courses offer an entire unit specifically dedicated to business training.

This means that regardless  of your skill level or past experience, you’ll absolutely benefit from the knowledge and expertise offered in QC’s wedding and event planning courses! And once you’ve completed our course(s), you’ll receive an internationally-recognized certification that’ll demonstrate your skills and knowledge as an event planner!

How awesome is that? Talk about taking your resume to the next level!

Step Two: Figure Out What You Want Your Business to Look Like!

Alright, so now that you’ve got your education under your belt, it’s time to start thinking about what you want your business to look like. How will you structure it? How much money are you willing to invest in getting it started up and running smoothly (as well as how long)? Do you eventually want to hire on fellow team members/staff, etc.?

Now is also a great time for some self-reflection! Ask yourself:

• What kind of events am I really interested in planning and coordinating (i.e., weddings, corporate events, social parties etc.)?
• How flexible am I when it comes to working evenings and weekends during event season(s)?
• Do I have enough money saved up to get this business started and support myself while I’m in the beginning stages?
• How much money do I need/want to make?
• How many hours am I willing to work per week, month, or year?
• What are my short-term and long-term goals for the business (i.e., what do you want it to look like a few years down the road)?

Your Business Name and Brand

You’ll also want to start thinking up some ideas for your company name! This can be fun AND stressful all at once, so don’t sweat it too much if you’re struggling with how to come up with one. If all else fails, try using an online business name generator. There are lots of great ones out there that can really help jump start the process!

(And once you’ve chosen your business name, don’t forget to get it legally registered. That way, no one else can swoop in and take it from you!)

Lastly, you’ll also want to figure out what you want your brand to be . What do you want your business to look like? How do you want people to perceive it? What kind of vibe(s) are you going for (i.e., fun, elegant, modern etc.)?

Do some research and figure out what would work well with the audience(s) that you’ll be working with! The key is to find something that you feel comfortable with and will allow you to stand out from the crowd.

Step Three: Come Up With a Plan for Your Event Planning Business!

Now that you’ve got your education under your belt, have decided what kind of business you want to start up, AND figured out how it’ll be branded, it’s time for step three! This is where you put your business plan together.

A good business plan will help to outline all the important details about your company. It will include what services you’ll offer, how you’ll market yourselves, what your expenses and revenue will be, as well as who your target audience is. This document can also serve as a roadmap for your business; helping you figure out what your next steps should be as you go forward.

It’s also important to note that banks and other financial institutions often require a business plan from anyone looking to take out a loan for their business. So, think of it as the blueprints for your company!

If you’re having trouble putting together your own, there are lots of great resources online (like this one ) that can help you out.

Step Four: Build Your Event Planning Business Website and Social Media Presence!

Once your business plan is complete, it’s time to start building your website and social media presence! This is where you’ll be able to showcase all of your amazing work, as well as give potential clients a little taste of what they can expect from you.

If you’ve never built a professional website before, or run social media channels for a business, we’ve got some great tips in our blog article, “ How to Get Clients as an Event Planner “, to help you get started!

Just remember that the key here is to make sure your website and social media accounts are up-to-date and reflect the brand that you’ve been working so hard on in step three.

Step Five: Establish How You’ll Get Clients and Market Your Event Planning Business!

From here, it’s time to think about how you’ll actually get customers. How will people know that you’re an event planner – and even more importantly, that they should hire YOU for their next big shindig? Furthermore, what kind of marketing materials will you need to create (e.g., a website, business cards, online ad marketing, social media profiles, etc.)? How often will you need to update these items?

One great way to kick off this step is by creating a list of potential referral partners or affiliates. Do some research and compile a list of wedding venues, catering companies, florists, photographers, and other event service providers in your area that might be interested in working together. You can also meet with these businesses in-person to discuss how you can help each other out!

Online marketing will also be your best friend when it comes to getting your business seen. After all, that’s the point of a website and social media presence!

Establishing a budget for your marketing efforts is always a smart idea. Start this by asking yourself how often you’ll be able to put money towards advertising. Then figure out the answers to these additional questions:

• How much do you have available each month or quarter?
• How can this amount help get people interested in what you’re offering?
• What do you know about SEO (Search Engine Optimization)? Are you willing to learn about it and put in regular efforts to maintain high-ranking SEO for your company?
• What sort of online marketing are you interested in utilizing? (E.g. paid ads on Google and/or social media, email campaigns, monthly newsletters, etc.)

You might even want to consider a marketing budget at the start of each new year so you have time to plan ahead!

Step Six: Start Networking and Getting Real-World Experience as an Event Planner!

Last but certainly not least, it’s time to start networking and getting hands-on experience. This can be done in a variety of ways, such as:

• Attending industry events and meetups.
• Participating in online forums or communities related to event planning.
• Volunteering your time with local charities or non-profit organizations that host events.
• Offering free consultations to friends or family who are having a party or event soon.
• Collaborating with other industry experts in your area on a stylized photoshoot , etc.

The more you put yourself out there, the more people will know about your business – and the better your chances of landing some great clients! And don’t forget to network with other event/wedding planners in your area as well. Although they’re technically you’re “competition”, the fact is, there’s always room for more than one planner in the events industry.

If anything, you’ll quickly come to realize that your fellow planners will actually make for some of the greatest friends and allies as you navigate life as an event planning business owner!

In Conclusion…

We hope this article has been helpful in outlining the steps you need to take when starting an event planning business from scratch. Just remember to be patient, do your research, and have fun. After all, Rome wasn’t built in a day… and neither will your business be!

But so long as you follow these 6 steps, you’ll be seeing success in no time. Thanks for reading!

Ready to start an event planning company from the comfort of home? Enroll with QC Event School today , and learn everything you need to know to achieve this goal in as little as 3-6 months!

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Qc event school graduate spotlight: ayla otto, meet qc event school graduate, carisa lockery, industry spotlight: mwai yeboah.

How to Start an Event Planning Business

Starting your own event planning business is an exciting time. A whole new world is opening up where you can become the master of your own destiny and deliver the events you always dreamed of instead of delivering someone else’s ideas. There is a lot to launching any business and it is all too easy to miss something important.

That’s why we put this guide together. It is part of our series of articles on starting your own events business. If you would like to learn more about setting up on your own, try our ‘ Setting up an event business masterclass ’. The complete guide to running your own show!

Is running your own event management business for you?

Before you quit your job and set up on your own, you should have a long hard think about whether being your own boss is right for you. It is exciting and challenging but comes with a lot of responsibility.

Questions you should ask yourself honestly include:

• Are you organised and disciplined enough to work on your own?
• Do you have the skills necessary to run a business as well as organize events?
• Do you have savings or income to help you survive while you’re getting started?
• Can you multitask and wear many hats at once?
• Do you have the ideas and experience to deliver top class events?

View this post on Instagram A post shared by Creative events with impact (@evolveevents) on Jul 18, 2020 at 11:45pm PDT

Setting up an event management business

Setting up a party planning business is a lot like planning an event. You will need to come up with a business plan, give your business a name, consider its USP, provide a budget, consider marketing and provide a means to measure success. All things you will likely have experience with already.

A typical business launch would include the following:

• Business research – Assess opportunities, competitors, risks and rewards.
• Business plan – Outline of intent, strategy to deliver that intent, financial considerations and audience analysis.
• Business admin – Business name, logo, branding, domain name and website.
• Business setup – Acquiring licences, software, insurance, premises, staff and equipment.
• Marketing and promotion – Getting the word out using contacts, email, social media, blogging, guest posting, news, reviews and anything else you can think of.
• Business delivery – The actual planning and delivery of events.

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Business research

The same as you would research the viability of a particular event, you have to research the viability of your event management business. You will need to research demand, supply, competition, your local and target market, gaps in those markets, your USP and how it will fit into those markets and local licensing, legal and insurance requirements.

The fuller the picture you have before you begin, the more targeted all of the following steps will be.

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Business plan

The detail and scope of your business plan depends on how you are going to finance your business. If you are self-funding, your business plan can be simplified. If you need startup capital, you will need a lot more detail on every aspect of your event planning business.

Business plans work a lot like event business plans . You will need to outline your goals, your target market, your USP, income and expenses and justify exactly why a stakeholder should invest in your business. It’s detailed work but essential if you need money to get off the ground.

Business plans are very detailed documents. This guide over at Start Donut goes into a lot more detail than we can here .

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Business administration

Business admin includes the nuts and bolts of setting up a business. That will include coming up with a business name, securing the domain (.com and .co.uk), acquiring a logo and branding, having a website designed, setting up social media accounts, getting an accountant, registering the business and getting the correct insurance.

We cover naming in detail in ‘Event Company Names’. Logos and branding are equally important and are vital to the success of your venture. Website design is something that requires planning, especially if you’re outsourcing it as it can take days or weeks to build depending on its complexity.

Getting an accountant should be straightforward enough, as should registering the business . Insurance may be more complex but a good quality insurance broker should be able to assist.

Business setup

Business setup is all about paving the way for you to begin marketing your wares. That can include acquiring licences to put on events, live music and so on. It can also include premises if you are planning to open an office, staff to help you run the business, office equipment and software.

You can run an event planning business from home to begin with if you have the space. Equipment can initially be minimal, a laptop and printer along with high speed internet should be enough at first. Software can be cloud software to avoid up front expenditure. This guide has an outline of your software options as an event planner .

View this post on Instagram A post shared by Golnaz Raadfar (@golnaz_raadfar) on Jul 28, 2020 at 12:43am PDT

Marketing and promotion

If you have set up your company, covered the administrative needs, hired the staff, got the insurance and installed the software, you are now ready to promote your business. Again, you can use your existing marketing and PR skills here. Rather than promoting the event, you are promoting an entire event planning business.

You should use every medium possible, concentrate on your USP, identify your target market, assign audience personas and devise a strategy for reaching them. If you’re not a marketing expert, hire one or hire an agency. Advertising and promotion is an essential skill in setting up any business and the same is true here. If you don’t have that expertise, hire someone who does. Freelancer or permanent, as long as they can get the job done.

Business delivery

The delivery stage of your event planning business is going to be your daily routine. As an experienced planner, you shouldn’t need us to tell you what goes on here. Just remember, where you were able to dedicate all of your time and attention to the event at hand, now you will have to reserve time and attention for the bigger picture too. Your business.

As if you didn’t have enough to contend with, you will have to answer client queries, social media requests, answer comments and perform the myriad of tasks all business owners have to contend with alongside actually trying to deliver an event.

Good luck with it!

How to start a party and event planning business

Our experts

Written and reviewed by:.

As the nation emerged from the COVID pandemic, desperate to reconnect in person, party and events planning became a multi-billion-pound industry with plenty of demand across the UK.

Now, amid a cost of living crisis, there are a few emerging issues that new business owners need to stay aware of. Rising inflation means corporate clients are working to stricter budgets, while consumers won’t be as easily convinced to part with their hard-earned money. That means the most successful event planning firms will be the ones that can offer a truly incredible and unique experience that stands out from rivals.

Luckily, with a clear concept, effective marketing and a few key transferable skills, you’ll maximise your chances of beating out the competition and finding success. That’s where our experts come in.

We have been helping businesses to set up across tons of sectors, and we understand the challenges and opportunities that are ahead in the events industry. So put the champagne on ice for now, and read on to learn more about the costs, considerations and benefits involved in becoming an event or party planner.

At Startups.co.uk, we’re here to help small UK businesses to get started, grow and succeed. We have helpful resources for helping new businesses get off the ground – you can use the tool below to get started today.

What Does Your Business Need Help With?

This article will cover:

Case study: above & beyond solutions, define your event planning business idea, conduct market research, come up with an event company name, develop your business plan, come up with a pricing strategy, understand the requirements, start promoting your event planning start-up, find suppliers and build contacts.

What does the future of the industry look like?

In order to combat the banning of in-person meetings, the events industry had partly pivoted towards online. The new fashion for virtual events has forever changed the way organisations will host and engage with their audience.

That’s not to say virtual events are here to stay. Given the option, most attendees will want to go to a physical event – as most of us have been ‘Zoomed’ out by pandemic working.

But digital events are a growing new branch in the sector which you should keep an eye on to ensure you stay ahead of the market and your competition.

Flexible working is also accelerating the trend. Corporate events will need to consider their employees that are still isolating and working from home. This means your business will need to provide online, offline, and  hybrid events solutions.

What COVID-19 rules do event planning firms need to follow?

From August 2021, all COVID-19 safety rules and regulations were fully lifted, which means that you don’t legally need to require any specific safety measures from customers or staff members if you’re planning to host events.

However, cultural changes have still taken place, including a new understanding about the spread of germs that public places can influence.

There are still some basic safety requirements that help to make your event attendees feel safe, such as:

• Spaced out seating for social distancing
• Hand sanitiser stations
• Increased cleaning and disinfecting rota
• Optional mask wearing

You could consider keeping these rules in place to help returning customers feel more at ease.

Sam Stockmans, founder of the newly found events services company Above & Beyond Solutions, has always had a passion for the industry.

“Everyones first nightclub experience is daunting, and I could feel that amongst my friends when we started going out. I wanted to put on parties and make it a more comfortable experience for everyone, so I started by organising 16+ nightclub events.

“I love the events planning industry, that ability to create moments for others through an event you are organising, there is no feeling like it.”

After dabbling in the nightclub events scene, Stockmans went on to organising exhibitions across Europe, before he decided to go it alone with his own venture, Above & Beyond Solutions.

In terms of the biggest challenges he’s faced in his near 15 year career in the industry, Stockmans said:

“The biggest challenge is definitely standing out. There are so many competitors in the events industry space. You need to have a USP and you need to be able to sell it confidently.

“For us at Above, our USP is the level of service people receive. My team is made up of highly experienced professionals and creatives.”

And when asked about anything he wish he’d known before he started in the industry, Stockmans said:

“I wish I’d been less arrogant. I made mistakes in my younger years in the industry because I got ahead of myself.

Attitude is everything in this industry, and it will do any entrepreneur wonders to remember that, as the last thing you want is to burn bridges with other companies in the space that you will be frequently collaborating with.”

When it comes to starting an events company, you’ll first need to decide on the type of events services you want to offer.

Would you like to offer the full event planning service, organising every aspect of an event from inception to execution? Or would you rather focus on one or two particular skill sets? For example:

• Event decorating
• Corporate entertainment management
• Event promotion
• Catering (find out more in our guide about starting your own catering business )

It’s also key that you decide on the type of events you want to work on. In your early days, you’ll find it easier to market yourself clearly, attract customers and build the right skills and experience if you have a niche.

Events can be classified into four broad categories based on their purposes and objectives:

• Personal events , such as weddings, birthday parties and family celebrations
• Organisational events , such as commercial, political and charitable events, conferences and product launches
• Leisure events , such as sports events and concerts
• Cultural events , such as ceremonial, religious, art or heritage events

It’s advisable to pick a niche that you’re familiar with and already have a little experience in. If you come from a corporate background, for example, you may have a clearer understanding of what a successful conference looks like than a successful art festival. Remember, you can always take on more specialties as your business grows in size.

Tristan Johnson, founder of TYPE , which provides networking events “that enhance wellbeing and that millenials can afford”, believes drawing on your own experience of the events market as a consumer is a good idea, she says:

“As a young millennial entering the competitive job market fresh out of university, making valuable connections to progress my career was really difficult. Either I’d attend networking events that weren’t relevant for me or find myself spending far too much money. After chatting with a few friends who felt the same, our business model was created.”

NB: If you’d like to become a wedding planner, be sure to also check out our guide to starting a wedding planning business .

Bear in mind that, once you’ve come up with a concept, you should always test it to make sure it has a good chance of succeeding in the market. To do this, you’ll need to…

It’s really important that you understand both your target audience and your competition before you decide how to reach out to potential customers, settle on a pricing structure or – in short – do anything else.

Market research will help you to understand:

• Who your competitors are
• How you can differentiate yourself from them
• How much demand there is for your particular event planning service
• The type of people who are most likely to want/need your service
• How much your target customers will be prepared to pay for your events, and whether you can make a healthy profit from this

To answer these questions, try:

Researching the competition online

Often a simple Google search will show you who the events businesses in your local area are, but the ONS, the FSB and the British Chambers of Commerce also hold more specific, publicly accessible information about different businesses.

Try to find out how your competitors operate, how big they are, who their customers are, how much they charge, and what their USPs are. Think about how you can bring something different to the table in order to compete.

Running an online survey

Online surveys are fairly cheap to set up, and you can also take to Facebook and LinkedIn to run questionnaires.

Ask people what they would expect from your events planning service, the budget they would have to spend on an event such as yours, how often they’d use you, what would make them want to use you, and anything else you want to know.

Holding focus groups

Essentially a face-to-face version of an online survey, a focus group gives you the opportunity to discuss your business with potential customers.

As well as asking the above questions, you can also talk more specifically about your own business, asking what they think of your concept and branding, and share ideas.

As fun a task as choosing a name for your party planning business may seem, it’s not something to be taken lightly.

Your name is the first thing most customers will hear about you, and so it’s important that it accurately represents what they can expect from your services. Plus, it needs to be something you’re proud to shout from the rooftops.

To come up with a name, try these tips:

• Think of the type of events you want to plan and the style of service you’ll aim to deliver. Write down every word that springs to mind – no matter how obvious or abstract. The more, the better. Then single out your favourite words and explore them. Do they have synonyms that are better? How does it sound when you combine them in different ways?
• Consider your own name. Can you name the business after yourself?
• If you’d like your business to be one that doesn’t take itself too seriously, try thinking up event-related puns or phrases you might be able to use as a name. Just try not to be too cheesy!
• Think about existing events planning businesses whose names you really like. Take inspiration from what makes them so great – but make sure you don’t simply copy them.

When it comes to coming up with a name, simplicity is key.

On the concept of coming up with a name, Stockmans says:

“Keep it simple, catchy, and memorable. Keep the name strong and simple, the strapline mission statement simple and the branding clear.”

If the name you choose doesn’t make it obvious that you’re an events planner – if you’ve picked a rather abstract word, for example, or are using your name – we’d advise adding a tagline. For example: Joe Bloggs – Party Planning.

Remember, your event planning business’ name should be:

• Easy to spell and pronounce.
• Original, and as unique as possible.
• A good representation of the services you’re offering (don’t go for something jokey and fun if you’ll be planning serious corporate events, for instance).
• Appealing to your audience. Ask target customers (whether through friends and family, an online survey or a focus group) for their honest opinion of your name.

Once you’ve settled on a name, you’ll need to check that it’s available – you can do this using the Companies House Register – and also check that it’s free to be used as a domain name for your website: for example, www.joebloggs.co.uk. It’s best to register your domain name as soon as possible.

If your chosen name is available, you’ll need to officially register it as your company’s name .

Your business’ name will tie inextricably into your business’ branding as a whole. Its tone will be the starting point for how you design your logo, website, marketing materials and messages, social media posts and more – all together, this should convey the tone and purpose of your business.

Bourlet suggests that you create clear guidelines for targeting your specific target audience with your branding.

Getting professional help

Consulting a graphic designer may help when it comes to creating a logo and other visual assets. Finding yourself a graphic designer is a good creative opinion allows you to brainstorm with an expert third-party.

TYPE founder Johnston says:

“Once you have completed an in-depth persona analysis, ensure all of your work is aiming towards these individuals to gain the greatest results. Building out strong brand guidelines is critical, involving how you deliver your content, the tone of voice, the colour code used on the site and in all branding, and the persona you will be targeting with your marketing.

“Studies have shown our attention span is shortening so branding must be easily consumable, easy on the eye and fitting to your personal brand, be it premium, fun, colourful or sleek.”

A business plan is an important document that takes its reader through every aspect of a business – including how it will run, plans for how it will progress, and forecasts of what it will achieve in the future.

As well as something potential investors and banks will want to see, writing a business plan will give you the opportunity to break down and plan every aspect of your business step-by step – including details of your business model and pricing structure, a marketing strategy, plans for hiring staff in the future and those oft-daunting financial predictions.

Another great way to organise your business plan is to use a project management software. These sophisticated tools are aimed at delegation and multi-project management, and can help you stay on top of deadlines as you design your dream events business.

Check out our  free online comparison tool  to learn more about the providers available and their top deals and discounts.

A crucial part of your business model, to plan your pricing you’ll first need to decide whether you want to charge:

• A flat fee for the whole service
• An hourly rate for the time you spend working on the event
• Commission-based prices

You should use what you’ve learnt from members of your target audience and your competitors to decide on which of these you’ll choose, along with the actual prices you’ll charge.

Remember, while your prices should be attractive to your target customer, they must also cover the operating expenses you spend on planning the event, while still leaving room for a healthy profit for you.

Work out how much it’ll cost you to put on an event based on your plans and ideal suppliers, and see whether you’d still get a decent margin based on what customers want to pay.

That being said, making sure you’re giving your clients value for money is crucial.

Don’t be afraid to adjust your offering if your pricing seems unreasonable. It may be that you need to re-evaluate how much you’re able to spend on pulling together the event or how many services you can offer as part of your package.

Qualifications

You certainly don’t need a formal education in events and party organising before becoming a party planner.

However, if you would like to study events management, you can:

• Research your local colleges and universities, or online facilities like the Open University, to see whether they offer something that suits you.
• Look into specialist event institutions. Event Academy , for example, offers four accredited event management courses which you can choose to undertake online or on a physical premises in London.

Or, as an alternative to studying, you can always build up your events experience (if you don’t have any) by volunteering to help out at local events. This will give you a practical insight into the many cogs that form a single event, and you might be surprised at the level of graft involved!

Regulations

Follow this checklist to make sure you’re operating your business legitimately and without fear of costly legal problems:

✓ Obtain licenses

The licenses you need to operate your business legally will be down to your local authority or council (get in touch with them to find out which licenses you need) and also the venues at which you’ll be holding events.

✓ Register as a sole trader

Unless you want to set up a limited company (though most start-ups don’t begin life this way), you’ll need to register as a sole trader with HMRC, and understand the tax implications of this.

✓ Set up a business banking account

This, plus you’ll need to get an accounting and cashflow system in order so you can easily manage invoices and outgoings. It’s a good idea to hire an accountant to help you out in the early stages.

✓ Prepare to take payments

Alongside your business bank account you’ll also need a merchant account. After a client pays you, their money will be held in your merchant account until it is approved by the client’s bank, at which point it moves into your business account – so it’s crucial you have one.

✓ Get yourself insured

You’ll need public liability insurance and professional indemnity insurance , plus employers’ liability insurance if you’re going to hire employees.

You might also need buildings and contents insurance if you keep expensive equipment at home or in an office, and vehicle insurance for any vans you use to transport materials to and from venues.

✓ Brush up on your health and safety

While the venues you hold events in will likely have their own set of generic health and safety regulations, it’s vital that you carry out your own risk assessments in advance of your events, detailing the hazards and controls for each.

So, learn how to write risk assessments and consider everything from trips, heavy loads and electric shocks to structural security and food hygiene.

Of course, it’s easy to blame the venue if something goes wrong – but it’ll still reflect very poorly on you if you’ve failed to recognise and manage a risk.

Now you’re ready to get going, it’s time to show your business to the public (and encourage them to use your stellar event-planning services). Alongside traditional techniques such as leaflet drops and putting advertisements in your local paper, you’ll want to try the following…

Set up a website

Having a website is vital for any small business. It’s a place to explain everything you offer, show off your previous projects, list your pricing packages and display your contact details.

It’s also an opportunity to prove that, even though your business is new, you’re a professional who knows exactly what they’re doing. So you’ll need to make sure your site is sleek and professionally-designed, with no spelling mistakes (an erroneous, dated website is a surefire way to turn off potential clients).

Unless you’re a web designer yourself, you’ll want to go with one of the two options:

• Hire a freelance web designer to build your site for you. The benefit of this is that you’ll have an expert to discuss ideas with, but you may find that your designer charges for any changes you’d like them to make in the future.
• Use a website building platform . These are often low-cost, and will likely give you more control over your site and a clearer understanding of how it works. Wix , GoDaddy and Weebly are popular options.

Your website should be in-keeping with your branding and appealing to your target customer, and you should adopt SEO best practice to make sure it ranks well when people search Google for a local events business.

If you need a hand setting up a website, be sure to check out our review of the top 5 web design companies in London .

Tom Bourlet of brands Fizzbox.com , which offers group activities and experiences for any event, and stag and hen party organisers The Stag Company and Hen Heaven, says:

“It is important to understand what terms you are targeting, the competition you are up against and what you can afford to spend on PPC (pay-per-click).

“When starting a new business, you can’t rely on organic or direct traffic, therefore PPC will be pivotal, and there will be a turning point where it goes from experimentation to profitable. For this reason, you need to ensure you have the funding to put into the ads, while working on the SEO and UX of the website.”

Websites are a great way to attract and retain customers, as they allow you to build a larger audience base from across the UK.

Read our guide to the  top 7 website builders for small businesses , to learn more about the benefits and methods to making your own online page.

Use social media

Social media is massive and if you’re not on board with the digital world then you will fall flat on your face. Get a good digital marketing plan in place with social media leading the charge.

With social media, you can get the word out about your business for free, sharing details of your services, special offers and – with your clients’ permission – images of your events to give potential customers an idea of what you can deliver.

In particular, Pinterest can be a goldmine for party and events planners. The image-based platform centering on inspiration and idea-sharing, Pinterest is the place to find people looking for ‘inspo’ for their next big bash – and show them what you can do.

You might also find Facebook’s groups valuable. Brides-to-be, for example, are increasingly joining locally-focused Facebook groups in which they can discuss and recommend local caterers, boutiques, planning services and more. Try joining up to relevant groups and sharing a tailored special offer with members.

Of course, there’s no point in spending energy and resources maximising your Pinterest and Facebook profiles if your target market don’t spend a lot of time on them.

Instagram is integral to many businesses success, be sure to check out our extensive how to use Instagram for business guide for everything you need to know.

Send emails

Sending engaging marketing emails to both customers and those who have expressed an interest in your services is an excellent way to communicate with the public, sharing updates and special offers, encouraging engagement with your business and keeping interest high.

A CRM (customer relationship management) system will help to streamline this process by personalising emails to make customers more inclined to read them, automating email sends, collating customer data and more.

Attend fairs and exhibitions

Some events, such as weddings, often have regular fairs and trade shows where small businesses like suppliers and party planners can host a stall and show off their products and services to visitors.

This is a great way to get your service in front of the people who need it. Furthermore, chatting face-to-face with potential customers will give you a unique opportunity to explain what you can offer to them specifically. Plus, they’re more likely to remember you if they’ve had a friendly and promising conversation with you.

Make sure, though, that you have professional business cards and leaflets printed so you can give them something to remember you by.

Try cross promotions

Seek out other small businesses in the events industry and see whether you can partner with them to create a promotional offer that you’ll both benefit from.

For example, a local independent caterers and offer a discount from both yours and the caterer’s prices to those who use your services and select that caterer.

As the old adage goes, it’s not what you know but who you know that counts. When it comes to events planning, what you know is obviously crucial – but you’ll also find having a portfolio of industry contacts very useful.

Of course, finding the right suppliers for each event will mean carefully considering your client’s wishes and budget. But building relationships with reliable suppliers will give you options right off the bat, saving you time – provided they fit the requirements.

If you’d like to plan weddings, for example, having contacts at catering companies, local venues, entertainment providers, et cetera will prove handy. If you’re specialising in corporate events, you may need to find contacts at banner printing companies, potential sponsors and more.

Here are a few ways to start building up that contacts book:

• Visit online event supplier databases . Alive Network , for example, lists thousands of UK event entertainers and suppliers along with reviews and prices.
• If your competitors run public events, see if you can attend them. Make a note of who they’ve used as a caterer, venue, equipment supplier etc. If any suppliers or sponsors are present, get talking to them and ask for their details.
• Attend trade shows, seminars and exhibitions where suppliers will be showcasing their offerings. 
• Join local events groups on social media , where professionals share details of the companies they’ve worked with. Be proactive, joining in with discussions and asking for opinions.
• Use your personal network . Use LinkedIn to the full as well, make new connections daily and interact with them if only to simply introduce yourself.

As you build your network and liaise with suppliers and customers, you may want to consider getting a business mobile to separate your business dealings from personal calls (more information on our page on business mobile phone contracts .

What’s next?

The party and events planning market is hugely competitive, but with the tips, tricks and tools in this guide, you’ll set yourself up with the best chance of success.

Want to get started on building your business now? The first step to opening any business is sourcing finance. O ur  free online comparison tool  can help you to compare the best business loan providers across the UK, and get refreshingly honest quotes for early-stage finance.

Written by:

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How to Start an Event Planning Business

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• Food & Beverage
• Construction
• Operations & Success
• Becoming an Owner
• Western Illinois University
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Are you daydreaming right now from your cube or home office about the notion of starting an event planning business? Perhaps you’ve been working in the events and meetings industry for several years and think that now is a good time to figure out how to work for yourself. Or maybe you’ve helped organize a few events in the past and feel that this could be your life’s passion. These are all good reasons to pursue this profession. But anyone who contemplates the fantasy of starting their own event planning business must follow some important steps before you even beginning to talk to clients.

Gain Event Planning Skills and Experience

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The long-term success of an event planning business will be based on the experience that the planner brings to his or her clients. That means, if you’re thinking about starting an event planning business, you should have a solid grasp as to what an event planner is, and make sure you have some solid skills:​

• Verbal and written communications
• Organization and time management
• Negotiation and budget management
• Creativity, marketing, public relations and more

It would also be helpful to obtain professional certification in the industry, including CMP designation or involvement in MPI.

Determine Your Event Planning Market/Forte

Okay, let’s say you’ve been working in corporate meetings for five years and are ready to create a business. The first thing to realize is that your strengths are in the corporate arena. A common error many planners make is to say that they are willing to coordinate all kinds of events, including corporate meetings, weddings, fundraising galas and more.

Stop. While the urge may be there to offer a variety of services, the reason you’re ready is based on your collective previous experiences. In time you may handle a full range of events, but initially recognize that there are distinctive differences between corporate, association, nonprofit and social events. Determine your market accordingly.

Develop a Business Plan

Because you decided on your market, you may be thinking this is a good time to share the news about what you can offer to the world. Not so fast. Starting your own business isn’t as glamorous as such fantasies. Like everything else, starting an event planning business requires a business plan.

The good news is that several resources are available to help. Expert to Home Business Randy Duermyer provides some insights ​into business plan basics and walks you through the process. The U.S Small Business Administration is a good resource that publishes materials about writing business plans as well.

Designate Which Business Entity Fits Best for Your Firm

Now that you realize that creating an event planning business should be viewed as a “work in progress,” it’s very important to determine your business structure in the beginning. The most fundamental step is to make sure you decide what type of business entity works best for your plan. For this, it’s important to secure professional advice.

There are several options available to you, and it’s important to select the type of business organization that best represents your interests. The Expert to Tax Planning William Perez outlines the six forms of business organizations recognized within the U.S. by the IRS: Sole proprietor, C-Corporation, S-Corporation, Partnership, Trust and Non-profit organization.

Obtain Business Insurance

Business insurance is mandatory. Event planning businesses should secure general liability and other forms of insurance to protect the business owner’s interests. Several forms of insurance exist, so it’s best to speak with an insurance advisor to learn all of the requirements.

Whether you plan on starting a home-based business or if you will have a small office elsewhere, ask questions about these forms of insurance (but not limited to) as follows:

• General liability
• Product liability
• Home-based insurance
• Worker’s compensation
• Criminal insurance
• Health and other benefits

Develop Your Network of Suppliers and Staffing Resources

It’s time to try to lighten the burden of business structure for a moment. Now it’s time to consider who you want to include in your network of suppliers. Event planners work with a variety of suppliers , including caterers , florists, photographers and more.

And although you may think that you can handle all tasks, ultimately you are going to need to establish an infrastructure of resources to support your events and overall operations. This includes staffing resources for administrative, sales, marketing, communications, legal, accounting, and other functions.

Define Your Event Planning Services

Some of you may be disheartened by the reference to “legal” and “accounting.”. Don’t be. They are very important friends and resources. But now it is also a time to think a little deeper and continue pondering what types of event planning services you will offer.

We recognize that many of you have probably already thought of this, but it’s important to stay focused on your core services. What’s your product? Who is your target market?

Will you offer full-service planning and execution on behalf of your client for venues, catering, production, speakers, gifts, transportation, lodging and more? Will you specialize in one particular aspect of the planning? What about communications services for event communications and more?

Establish an Event Planning Fee Structure

With services in mind, it’s important to determine your fee structure . Many independent and small event planning firms should be conscious of the various ways to cover their expenses and make a reasonable profit. After all, this will help keep you in business five years from now. Most event planners charge based on the following:

• Percentage of expenses
• Hourly rate
• Percentage of expenses plus hourly rate
• Commissionable rate

Secure Funding for Your Business

In most cases, this shouldn’t be step 9, but it’s important to be motivated by the work that your new firm will bring so that you don’t get discouraged when considering the necessary realities. And each business owner will vary how he or she chooses to secure and source such funds.

Most businesses require an operating budget, and it will be important to have access to a comfortable base of cash while establishing the firm. While it is possible to establish a business with limited funds, it is still important to have enough money to start your business and cover any living expenses while waiting to become profitable.

Focus on Business Development and Marketing for Your Event Business

With your business model in place, an understanding of your services, a sense of how you will charge for your services, now it’s time to begin to develop important business and marketing materials.

Well, now you’re ready to choose the right name for your business and work your business development plan. You will also need to create business cards, stationery, a website, sales collateral, proposals, client agreements and more.

How to Start an Event Planning Business: The Vital Steps

It may seem like everyone is running their own businesses these days. In fact, around 20% of Australians either run (or plan to run) their own business. 

If you’re an experienced event organiser with an impressive portfolio of success stories, you might be ready to break out on your own. This could mean a solo freelancing business, or it could be an entire operation — with employees and even a brick-and-mortar location.

But the leap from employment to entrepreneurship is a big one. And many event planners aren’t sure where to begin.

Here’s how to make the leap from event management into starting an event planning business.

1. Register your event management company’s business and apply for permits or licenses

While you do not need an official certification or license to become an event planner, you may want to register your event management company and business’s name. Then, be sure to open separate accounting for your business, and track all your expenses and income for tax purposes.

Not sure where to start with your expenses? Check out this budget template . 

The details of registration will depend on where you live and the size of your business, so make sure to do your research beforehand . In addition, make sure you apply for the correct licenses and permits so that you don’t get into any legal trouble while building your brand.

Note that permits can vary from city to city, especially when it comes to things like service of alcohol. You can search the Australian Business Licence and Information Service (ABLIS) website for city and state permits required for your event.

2. Create your event planning business plan

Creating a business plan helps you get organised and attract partners, investors, and clients. It’s also a document that will serve as an important touchstone for you as you grow your business.

If you’re thinking about how to start an event planning business, here are two of the things your business plan should definitely include:

• A budget. There are many small-business expenditures you might not be aware of, from taxes to insurance to licenses. Make sure you do your research so you know exactly what you’ll need to pay for. Knowing how much money you’ll need coming in will help you determine how much to charge for your services.
• A list of your potential clients. The events industry is enormous, and there is definitely a place for your event planning business. According to one recent study , spending for special events worldwide is $500 billion annually. But what clients can you actually count on? Make a list of potential clients, including local business, people you’ve worked with previously as an event manager, and dream accounts. Then, make a plan to approach them.

Once you have a business plan, you can take tactical steps to launch your event planning business. Want some more in depth guidance? Check out this sample event business plan.

3. plan your marketing approach.

Marketing is one of the most important parts of starting your own event planning business. If you’re already an event manager, you’re very familiar with how important it is to market your events.

But as a small business owner, you also need to market your own brand so that people know they can hire you. This adds an extra layer to your marketing mandates. To keep yourself organised around all of your brand and event marketing, download this template to plan your marketing activities .

4. Streamline your tasks

Any event organiser is familiar with juggling multiple tasks. But when you start your own event planning business, those tasks will multiply quickly.

Use technology to automate the tasks you can. Today, there are many apps  that can automate a surprisingly vast number of tasks. For instance:

• HelloSign  or  Adobe Sign  can help you send and receive legal signatures on contracts and liability waivers.
• Email marketing programs like MailChimp allow you to schedule the send of invitations, announcements, and promotions to your entire mailing list or target segments of it.
• Apps like Zapier let you get creative with linking up your various technologies and automating repetitive custom tasks.
• Finally, online ticketing platforms like Eventbrite help you create event pages quickly and make it easy for people to buy tickets to your events online. Integrations with discovery and distribution partners like Facebook and Spotify make it possible for people to find your events and buy tickets from other places on the web.

Read More: How to Use Event Automation to Scale Your Events Business

Of course, there’s more to getting organised than just automating tasks.

5. Track your progress

If you’re using technology to automate tasks, sell tickets, and organise your business, that technology will collect data for you. And data is crucial to tracking your progress as a new business owner.

With every tool you use, carve out time to check your metrics so you can gauge how your planning is panning out. And go back to your business plan periodically to make sure you’re staying on track with your vision and hitting your goals.

6. Manage your time

No matter how many tasks you automate and how organised you are, you’ll always have plenty on your to-do list. Managing time well is crucial for an event organiser dreaming about how to start an event planning business.

Meetings, for instance, are simultaneously a great way to connect with people and a total drag on our time. While you’ll need to connect with clients regularly, you can make your meetings more efficient .  Create a solid agenda and stick to it, with just enough chit-chat to build a relationship with clients and vendors. As you build out your staff , resist the temptation to add unnecessary meetings to everyone’s calendar.

7. Manage the stress of starting an event planning business

Most importantly, throughout all of this, stay calm. Being an entrepreneur can be stressful . The more you can keep a cool head about you, the higher your chances of success. Another great way to level up your management abilities and ensure the trust of your clients is to take classes for event planning.

For more in-depth productivity tips to help you figure out how to start an event planning business, read The Event Planner’s Ultimate Productivity Handbook .

The event planner's ultimate productivity handbook.

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about the author

Mel Kershaw

Mel is a writer and editor at Eventbrite, helping event creators level up their marketing and put together more engaging experiences. A wearer of many hats, she's worked in advertising, digital strategy, community management, and hosted her fair share of events around Melbourne.

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The 2024 Event Planning Guide: 20 Essential Steps

Master event planning with our 2024 guide, which provides a blueprint for producing successful events. explore why meticulous planning is crucial for your event..

Roughly 87% of marketers consider event marketing an effective way to create value. Unfortunately, your team can’t simply envision an event and show up, the day of, to a completed product. A lot of time and effort goes into creating a seamless, professional, and engaging event.

If your company plans to use event marketing, you must be prepared for that level of commitment and management. A poorly planned event will do more harm to your brand than good.

That’s why we’ve provided this comprehensive event planning guide. In it, you’ll learn everything you need to take an event from inception to glorious realization.

What is event planning?

Event planning encompasses the many hours of work that go into creating a memorable, effective event. Planning a budget, attracting attendees, and putting out fires the day of are all important tasks for an event planning team.

With so much responsibility, it’s easy to get distracted. Your team needs to have a clear plan in place and steps to follow to ensure nothing falls through the cracks.

Why does event planning matter?

Events play a crucial role in your brand image. Whether an event is the first time a potential customer interacts with your brand or is an exclusive meet-up of your most loyal customers, it will stand out in their minds as a representation of your company as a whole.

When you plan an event well, it will ensure that the image is of a professional, engaging, and highly effective business. These events can be vital in building up customer loyalty, generating leads, and establishing your company as an industry leader.

20 essential event planning steps

Let’s break down the steps you and your team need to take to plan and execute the perfect event. These steps are split up into sections, so you know which can be taken concurrently. The most important thing to keep in mind is that your event is unique and may require more or fewer steps.

Event concept and goal setting

 step one: define the purpose of the event.

Because an event is such an open-ended concept, it’s important to narrow your scope before getting far into the planning process. Think about the main objective you’re trying to achieve. Are you focused on:

• Launching a product
• Raising funds
• Generating leads
• Becoming an industry thought leader
• Rewarding customer loyalty

These are all diverse objectives that require drastically different styles of events.

Step two: identify your target audience

The people you want at your event will make a huge impact on the tone and promotion. For example, industry professionals will be drawn in by networking opportunities and sessions with well-known experts. The general public will want something a little more novel and fun to get them through the doors.

Step three: theme development

A great event theme will tell folks everything they need to know before they register for your event. This theme will help you make decisions about location, decor, speakers, promotion, and more.  Choose something that will appeal to your target audience and support your overall objective.

Step four: set goals and KPIs

Defining what success looks like for your event will keep you on track throughout the planning process. Try to choose a “ SMART ” goal that is specific, measurable, achievable, relevant, and time bound.

Some potential KPIs to track your event’s success include:

• Attendance numbers
• Registration vs. actual
• Demographics
• Cost per lead
• Social media mentions
• Lead generation

Every time you need to make a tough decision surrounding your event, ask yourself if it supports the goals and metrics you’re working toward.

Initial planning and feasibility

Step five: budget creation.

Event budgets are usually split into a few simple categories:

• Event platform
• Venue and vendor fees
• Marketing and promotion costs
• Food and beverage expenses
• Audio/visual and technology
• Decor and miscellaneous

Allocating your budget in advance will help you make smarter decisions as opportunities come your way. It will also keep you from falling into the trap of overspending with impulse decisions.

Step six: timeline development

Determine a timeline for when you need to have specific tasks completed. Include every important detail on your checklist , and assign specific people to head up each task. Don’t forget to include check-ins in your schedule so you can flag any issues early and keep the process moving along.

Step seven: vendor identification and contracting

Whether it’s booking a caterer, security, or entertainment, choosing the right vendors is crucial to the success of your event. Research and compare different options and be sure to read reviews and ask for references from past clients. Once you’ve decided on a vendor, make sure to have a detailed contract in place to protect both parties.

Step eight: securing a venue

Before you lock in a venue, think about what experience you’re trying to create. Is it an interactive, casual affair? Find an airy loft or outdoor space. If it’s a professional development or industry event, consider hosting it in a conference center or hotel.

Make sure that you go into venue consultations with a list of non-negotiables so that you don’t end up with a space that hinders your event’s growth.

Step nine: choose an event platform

The digital event platform you choose for a hybrid or online event is just as important as the physical venue. Choose something that can operate as an all-in-one platform to keep confusion to a minimum. Make sure it can be fully customized to fit your brand, and that it’s easy for attendees to navigate.

Step ten: permits and licenses

Obtain any legal requirements early so you have time to iron out issues before they become catastrophic. Look into insurance, and ensure the venue is prepared for the number of people you’re expecting.

Program and content development

Step eleven: agenda creation.

Develop a detailed agenda with session times, speakers, and activities. You might consider planning different streams so that attendees know which events are most relevant to them. Don’t forget to put in ample time to rest, visit vendors, and network.

Step twelve: speaker coordination

Speakers will likely be a huge draw for your event attendees, so take your time to find ones that fit. This could be a combination of industry experts, influencers, and members of your team. Consider an inspirational speaker or two to round out the event.

Attendee engagement and communication

Step thirteen: promote your event.

Don’t wait until the last minute to start promoting your event. Use a variety of channels such as social media, email marketing , and word of mouth to reach your target audience. Make sure to highlight the unique features and benefits of your event and leverage any partnerships or sponsorships to expand your reach.

Step fourteen: manage registrations

As folks register for your event, you’ll be dealing with a lot of valuable and important data. It’s important you have a system in place that integrates with your event platform, CRM, and overall tech stack.

Upon registering, folks should be entered into your database for communication and follow-up. You can send them reminders, updates, and essential information.

Technical planning

Step fifteen: audio-visual setup.

Coordinate with your AV teams for microphones, projectors, screens, and live streaming in advance of the event. You should have at minimum a full day in the space to set up these tech requirements and run tests. Technical difficulties can make your event feel unprofessional.

You’ll also need to ensure the internet connection is robust enough to handle the traffic and streaming requirements. A hybrid event can be destroyed by loss of connection.

Step sixteen: setup and rehearsals

Oversee the setup of the venue, including vendors, refreshments, and decor. Imagine yourself walking through the space as an attendee and clock any potential hang-ups. Rehearse any presentations or challenging transitions to ensure a smooth track through the day.

Step seventeen: create emergency plans

Contingency plans for technical failures, scheduling mistakes, and other mishaps are vital. In an emergency or failure, your team and attendees will turn to you to keep a level head and solve the problem as quickly as possible. It is always better to be over-prepared than under.

The day of the event

Step eighteen: tracking and monitoring.

Be available on-site to monitor the event flow and deal with any challenges as they arise. Connect with attendees and do everything you can to give them a great experience. Conduct surveys, take polls, and track engagement metrics to collect data that will be vital later.

Step nineteen: capturing content

Record sessions, take photos, and manage your live streaming as you go. Any content you collect throughout the day can be used to boost social media engagement, promote future events, and more.

Post-event wrap-up

Step twenty: follow up with attendees.

Don’t let all your hard work go to waste. Reconnect with event attendees with thank-you emails, surveys, and other post-event communication. This is not only a great way to show appreciation and gather feedback, but it also keeps your brand top-of-mind for potential future events. If anyone seems like a promising lead, be sure to move them along your sales pipeline accordingly.

How do you plan an event on a tight budget?

The most important thing to remember when planning an event on a budget is to focus on a singular goal. The more complicated your desired outcome is, the more you will spend on additional things.

If your event goal is to launch a new product , you probably don’t need to fill up the evening with multiple high-profile speakers. While this expense might bring in more attendees or help give your company prestige, it is not the main focus. Instead, you might invest that money in making the product demonstration truly impressive.

How do you properly track event registrations?

Keeping track of event registrations is a vital component in your event planning because it helps you ensure you have the infrastructure for the number of people attending. It also allows you to collect valuable data from your attendees.

Because of its import, the best way to track registrations is with a dedicated events platform. This software has been designed specifically to manage events and will give you complete control over registration data as it comes in.

What should be included in a post-event survey?

Several potential questions can be asked in a post-event survey, including:

• Overall satisfaction
• Likelihood of returning
• If they would recommend the event
• If the information was useful

However, you will only have your audience’s attention for a short time, so choose the questions that will best support your event goal, and help you improve future events.

Meet Kaltura – the #1 virtual events platform

When you’re juggling all that goes into event planning, you need to have tools you can trust and fall back on. Kaltura is the best virtual events platform for keeping every single ball in the air.

Kaltura offers an all-in-one suite of features that keeps all your information in one place. From event registration to live streaming to audience engagement and beyond, this software has everything covered. With Kaltura in your corner, you can focus on planning an event that is memorable for all the right reasons.

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Bianca Belman-Adams