what to do to start a party planning business

How to Start a Profitable Party Planner Business [11 Steps]

By Nick Cotter Updated Feb 02, 2024

Business Steps:

1. perform market analysis., 2. draft a party planner business plan., 3. develop a party planner brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for party planner., 6. open a business bank account and secure funding as needed., 7. set pricing for party planner services., 8. acquire party planner equipment and supplies., 9. obtain business insurance for party planner, if required., 10. begin marketing your party planner services., 11. expand your party planner business..

When embarking on a venture in the party planning business, it is essential to have a thorough understanding of the market dynamics. A comprehensive market analysis will reveal the existing demand, competition, and potential for growth, guiding you to make informed decisions as you lay the foundation of your enterprise. Here are key steps to consider:

• Analyze the local demand for party planning services by identifying the most popular types of events, such as weddings, birthdays, corporate events, or themed parties.
• Research local competitors to understand their service offerings, pricing strategies, market share, and unique selling propositions.
• Identify your target demographic by age, income level, and social preferences to tailor your services effectively.
• Assess industry trends and emerging themes in party planning to stay ahead and offer cutting-edge services.
• Collect and interpret data from surveys, social media, and industry reports to gauge customer needs and satisfaction levels.
• Consider economic indicators and local event regulations that could impact the party planning business in your area.

Are Party Planner businesses profitable?

Yes, party planning businesses can be very profitable. Depending on the type of events you plan and the size of your business, you can generate a significant income. With proper planning, organization, and marketing, you can create a successful and profitable party planning business.

Creating a well-structured business plan is essential for the success of your party planner enterprise. It will serve as a roadmap for your business, outlining your goals, strategies, and financial projections. Here are critical elements that should be included in your party planner business plan:

• Executive Summary: Provide a brief overview of your party planning business, including your company's mission statement, service offerings, and unique selling propositions.
• Market Analysis: Research the party planning market, identify your target audience, and analyze your competitors to find a niche or advantage.
• Services Offered: Describe the types of parties you plan, such as weddings, birthdays, corporate events, and the specific services you offer, from venue selection to vendor coordination.
• Marketing and Sales Strategies: Detail how you plan to attract and retain clients, including pricing, promotions, advertising, and sales tactics.
• Operational Plan: Explain the day-to-day operations of your business, including the roles and responsibilities of your team, if applicable, and the tools and technology you will use.
• Financial Plan: Include a budget, a projection of start-up costs, ongoing expenses, revenue forecasts, and a break-even analysis.
• Milestones and Metrics: Set clear goals and objectives, with measurable metrics to track progress and success.

How does a Party Planner business make money?

A Party Planner business typically makes money by charging a fee for their services. This fee is usually based on the services provided and the amount of time and effort required to plan and organize the event. Additionally, some party planners may offer additional services such as catering, venue rental, and decorations which generate additional income.

Establishing a memorable and appealing brand is crucial when starting a party planning business. Your brand is the face of your company and should reflect the unique value and experience you offer to clients. Here are some key points to consider when developing your party planner brand:

• Identify Your Niche: Determine the specific market or theme you'll specialize in, such as children's parties, weddings, or corporate events.
• Create a Brand Identity: Design a logo and choose color schemes and fonts that convey the style and tone of your services, ensuring consistency across all materials.
• Define Your Brand Values: Decide on the core values and messages you want to communicate to your clients, like creativity, attention to detail, or stress-free planning.
• Develop a Unique Selling Proposition (USP): Articulate what makes your party planning service stand out from competitors, such as unique themes, personalized experiences, or exceptional customer service.
• Build an Online Presence: Create a professional website and active social media profiles to showcase your portfolio, share customer testimonials, and engage with your audience.
• Consistency is Key: Ensure that all your communications and marketing materials align with your brand identity to build trust and recognition.

How to come up with a name for your Party Planner business?

Brainstorming is the best way to come up with a name for your Party Planner business. Consider words that are associated with parties such as celebration, festivity and fun. Also think about what makes your business unique and special and use that as inspiration. Finally, keep it simple and memorable and make sure the name is easy to pronounce and spell.

Formalizing your business registration is a critical step in establishing your party planner business as a legal entity. This process varies depending on your location, but it generally involves a few key steps that will help protect your business and ensure compliance with government regulations. Here are some essential actions to take:

• Choose a Business Structure: Decide whether your party planner business will be a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has different legal and tax implications.
• Register Your Business Name: If you're using a name other than your own, you'll need to register a "Doing Business As" (DBA) name. Check with your local government to ensure the name isn't already taken and to register it properly.
• Obtain Necessary Permits and Licenses: Depending on your location and the scope of services you're offering, certain permits and licenses may be required to operate legally. Research local regulations and apply for all necessary documentation.
• Apply for an Employer Identification Number (EIN): If you plan to hire employees, or your business structure requires it, you will need to obtain an EIN from the IRS for tax purposes.
• Register for State and Local Taxes: Register with your state's taxation department to obtain a tax identification number, worker's compensation, unemployment, and disability insurance.

Resources to help get you started:

Explore crucial resources designed specifically for party planner entrepreneurs, featuring the latest market trends, operational best practices, and strategic tips for business expansion:

• Event Planner Magazine: Offers comprehensive insights into event planning trends and business strategies. https://www.eventplannermagazine.com
• International Live Events Association (ILEA): Provides industry reports, professional development resources, and a community for networking. https://www.ileahub.com
• Special Events Blog: Features articles on event trends, case studies, and marketing tips for event professionals. https://www.specialevents.com/blog
• Event MB: Offers free reports and articles on event technology, innovations, and event planning best practices. https://www.eventmanagerblog.com
• Party & Event Planner Success Podcast: A podcast series delivering actionable advice and insights from industry experts. https://www.eventplanningsuccesspodcast.com
• Catersource: Provides resources and training for caterers and event planners, including a conference and tradeshow. https://www.catersource.com

Starting a party planning business involves more than just a keen eye for detail and a penchant for organization; it also requires obtaining the appropriate licenses and permits to operate legally and professionally. These documents are essential to ensure that your business activities are in compliance with local, state, and federal regulations. Below are the key licenses and permits you may need to acquire:

• Business License: Check with your city or county government to apply for a general business license, which is the fundamental permit for operating a business in your area.
• Employer Identification Number (EIN): If you plan to hire employees, you'll need to obtain an EIN from the IRS for tax purposes.
• Event Permits: Certain events may require specific permits, especially if you're planning public gatherings or events that involve food, alcohol, music, or street closures.
• Insurance: While not a permit or license, having liability insurance can protect your business from potential claims and is often required by venues and vendors.
• Health and Safety Permits: If your party planning services include catering or setting up temporary food stations, you may need to acquire health department permits to ensure food safety.
• Alcohol License: Selling or serving alcohol at events may necessitate a temporary or permanent alcohol license, depending on the laws in your area.

What licenses and permits are needed to run a party planner business?

Depending on the type and location of the party planner business, licenses and permits may include a business license, health department license, insurance, liquor license, sales tax permit, and any permits required for holding large events.

Opening a business bank account and securing funding are crucial steps in establishing a strong financial foundation for your party planner business. These steps not only help in managing your finances effectively but also in gaining credibility with vendors and clients. Here are some guidelines to assist you:

• Research banks and credit unions to find the best business banking options that offer low fees, good customer service, and additional benefits such as online banking and mobile access.
• Prepare the necessary documents to open a business bank account, which typically include your business license, EIN (Employer Identification Number), and Articles of Organization if you've formed an LLC or corporation.
• Consider the different types of funding available to you, such as small business loans, business credit cards, lines of credit, or investors, and decide which source aligns best with your financial needs and business goals.
• Create a solid business plan that outlines your party planning services, target market, marketing strategy, and financial projections to present to potential lenders or investors.
• Explore local and federal government grants, as well as crowdfunding platforms, as potential funding sources that may offer a more favorable alternative to traditional loans.

Setting the right price for your party planning services is crucial to attract clients while ensuring your business is profitable. Consider the value you bring, your expertise, and the market rates. Below are key points to guide you in establishing your pricing:

• Analyze the Market: Research your competitors' pricing to understand the going rates for similar services in your area.
• Costs and Expenses: Calculate all your business costs, including supplies, labor, and overhead, to ensure your prices cover these expenses.
• Value-Based Pricing: Consider the value of your unique offerings and experience when setting prices; premium services can command higher fees.
• Pricing Models: Decide whether to charge a flat fee, an hourly rate, or a percentage of the party budget. Each model has its pros and cons.
• Package Deals: Create service packages with tiered pricing to cater to different client needs and budgets.
• Flexibility: Be prepared to negotiate with clients but know your minimum acceptable rate to maintain profitability.
• Transparency: Clearly communicate what is included in your pricing to avoid misunderstandings and build trust with clients.

What does it cost to start a Party Planner business?

Initiating a party planner business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $6500 for launching such an business. Please note, not all of these costs may be necessary to start up your party planner business.

Starting a party planning business requires gathering the right tools and supplies to ensure every event is a hit. From decorations to organizational tools, equipping yourself with the essentials will make your job easier and your events more memorable. Here's what you'll need to get started:

• Basic Planning Supplies: Notebooks, planners, pens, and folders to keep your planning details organized.
• Event Decor: A variety of decorations such as balloons, streamers, tablecloths, and centerpieces that can cater to different party themes.
• Tableware: Disposable or reusable plates, cups, napkins, and cutlery for serving guests.
• Sound System: Portable speakers or a PA system for music and announcements.
• Lighting Equipment: String lights, LED candles, or spotlights to enhance the ambiance.
• Furniture: Foldable tables and chairs for guest seating and food display.
• Catering Supplies: Serving trays, utensils, chafing dishes, and beverage dispensers.
• Entertainment Items: Games, props, and activities suitable for various age groups and party themes.
• Transportation: A reliable vehicle to transport supplies to and from event locations.
• Software: Event management software for guest lists, floor plans, and schedules.

List of Software, Tools and Supplies Needed to Start a Party Planner Business:

• Computer and Printer
• Business Software (Accounting, Invoicing, Budgeting)
• Party Planning Software (Theme Design, Event Scheduling, Checklists)
• Party Supplies (Decorations, Tablecloths, Tableware, etc.)
• Party Favors
• Party Entertainment (DJs, Bands, Magicians, etc.)
• Advertising Materials (Flyers, Business Cards, etc.)
• Photography Equipment (Camera, Lighting, etc.)
• Website Design Tools
• Social Media Tools

As you embark on your journey as a party planner, safeguarding your business with the right insurance is a crucial step. Insurance not only protects your financial stability but also provides peace of mind for you and your clients. Here are some key insurance types to consider:

• General Liability Insurance: Covers third-party bodily injury and property damage claims, which could arise during an event.
• Professional Liability Insurance: Also known as Errors and Omissions (E&O) insurance, it protects against claims of negligence or failure to deliver services as promised.
• Business Property Insurance: Protects your office space, equipment, and inventory against theft, damage, or loss.
• Workers' Compensation Insurance: Required if you have employees, to cover medical costs and lost wages for work-related injuries or illnesses.
• Event Cancellation Insurance: Helps recoup lost expenses if an event you're planning is unexpectedly canceled or postponed.
• Commercial Auto Insurance: Essential if you have a vehicle dedicated to your business, to cover damages from accidents during work-related trips.

Consult with an insurance broker to tailor a policy that fits the unique risks associated with your party planning business.

Now that you've set the groundwork for your party planner business, it's time to get the word out and attract clients. Marketing your services effectively is crucial to your success. Here are some strategies to help you start promoting your party planning services:

• Develop a Strong Online Presence: Create a professional website and active social media profiles to showcase your portfolio, client testimonials, and services offered.
• Network: Attend local events, join community groups, and connect with other vendors in the industry to build relationships and gain referrals.
• Offer Promotions: Entice new customers with introductory offers, discounts for referrals, or package deals for different types of events.
• Collaborate with Vendors: Partner with caterers, venues, and entertainment providers to create mutual referral programs.
• Local Advertising: Advertise in local magazines, newspapers, and on community bulletin boards. Consider sponsoring local events for added visibility.
• Collect Testimonials: Encourage satisfied clients to provide testimonials that you can use in your marketing materials and on your website.

Once your party planning business is well-established and you're ready to take the next step, expansion is the way to go. Here are some strategies that can help you grow your business and take it to new heights:

• Explore niche markets: Look for untapped areas within the party planning industry, such as corporate events, destination weddings, or eco-friendly parties.
• Build strategic partnerships: Connect with vendors, venues, and other event planners to create a network that can offer more comprehensive services to clients.
• Invest in marketing: Increase your online presence through social media, optimize your website for search engines, and consider paid advertising to reach a wider audience.
• Expand your team: Hire additional staff or freelancers with specialized skills to handle increased demand and offer new services.
• Diversify your offerings: Introduce new services like virtual event planning, party supply rentals, or personalized party favors to differentiate your business.
• Franchise your business: If your brand is strong and your business model is replicable, consider franchising to allow others to open branches under your brand name.

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How to Start a Party Planning Business

Last Updated: March 9, 2024 Approved

This article was co-authored by Rachel Weinshanker . Rachel Weinshanker is a Certified Event and Wedding Planner and the Owner of San Diego Life Events, an award-winning wedding and event planning business based in San Diego, California. Rachel has over eight years of event planning experience, and her work has been featured in many notable publications. San Diego Life Events has been awarded the Wedding Wire Couple's Choice Award in 2018, 2019, and 2020. Rachel is a graduate from San Diego State University. There are 11 references cited in this article, which can be found at the bottom of the page. wikiHow marks an article as reader-approved once it receives enough positive feedback. This article received 15 testimonials and 83% of readers who voted found it helpful, earning it our reader-approved status. This article has been viewed 239,040 times.

A party planning business can be a fulfilling and profitable opportunity for someone who is social, organized, detail-oriented, and has a flair for entertaining and coordinating events. Unlike other startups, a party planning business does not require much capital or dedicated space. However, figuring out how to start a party planning business does require some basic steps that are similar to all home based ventures, as well as those that are unique to the field.

Starting Out

• Search online and use the U.S. Patent and Trademark Office's trademark search tool (or your country's equivalent) to check potential names against existing trademarks.
• You will may need to register your company as a "Doing Business As" name with your state or county government. Consult local business laws to find out. [1] X Trustworthy Source U.S. Small Business Administration U.S. government agency focused on supporting small businesses Go to source

• Double-check with your state and local government before you start doing any business. You could run into legal trouble if you aren’t properly registered.

• You may choose to rent out a permanent office space or a temporary meeting room when seeing clients.
• Many professionals who work from home see clients in public spaces, such as a coffee shop or restaurant. [2] X Research source

• Early on, take as many jobs as you can. This will help you establish a reputation as a great planner, which is a great way to set yourself apart!

• Look at how your competition prices their services to get a good sense for the range in your area.
• How much experience do you have? A planner with previous professional party planning experience will command a higher rate than an unseasoned planner.
• To attract clients, you may have to start out low and gradually raise your prices over time as you gain a positive reputation.
• Most planners will charge a 15% commission per vendor. For example, if you find and hire the florist, you could charge 15% of their cost as a fee. [3] X Research source

• This is especially important when planning outdoor events. Always have a backup plan for inclement weather!

Making a Plan for Your Business

• The two most popular types of party planner are corporate and social. Corporate party planners organize events for companies, while social planners focus on weddings, birthday parties, etc.
• Many party planners pick a niche based on what they enjoy the most. This can be a specific type of event or a unique style you offer.
• Most party planners either focus exclusively on children’s parties or only offer services for adult parties. [5] X Research source

• Study your local competition. If there’s something you can do that they can’t, you can gain a big competitive advantage!
• Establish relationships with local caterers, suppliers, entertainers, and venue owners. It will be your job to organize and coordinate these disparate elements to create a memorable event.

• Using your market research, determine the rates you will charge for your services. Don’t undercharge, but aim to set competitive rates.
• Estimate your startup costs and secure funding. If you can’t fund the business yourself, you may need to take out a small loan or find investors. [10] X Trustworthy Source U.S. Small Business Administration U.S. government agency focused on supporting small businesses Go to source

Growing Your Business

• Make sure your website is aesthetically pleasing and easy to navigate. Try to have your company's name and contact information written clearly on each page.
• Create flyers that show off your graphic design skills. Distribute them door to door and ask local businesses to display them on their corkboard.
• Tell family and friends about your new business and ask you to recommend you to anyone they know who is looking for a party planner.

• Actively and directly engaging with customers will show them that you care. Respond to folks when they comment on your posts or ask questions.
• Use hashtags to target specific areas or holidays. For example, if you want to advertise your services for a Halloween party in Chicago, you could use #HalloweenCHI.
• Showcase your talents by uploading photos and videos of successful parties you have planned. Be sure to always obtain express written permission from your clients if they are featured in them.

• Register (or claim) your accounts on the applicable review sites that people use in your area.
• Address any concerns or negative reviews honestly and maturely. Remember, these posts may be a first impression for potential future clients.

• Always be on the lookout to make contact with new vendors the area. You never know when a client may request a specific type of food or performer.
• Attend event planning trade shows to meet other planners and service providers.
• Trade shows are also an opportunity to learn about new trends and developments in the industry.

Expert Q&A

• While most party planners handle administrative duties themselves, if your business takes off you may choose to hire an assistant. Even though event planning is an extremely low-risk job, you will likely need to purchase workers' compensation insurance. Check your local laws. [11] X Research source Thanks Helpful 0 Not Helpful 0
• Make sure to have some experience planning parties casually before you commit to starting a business. Not everyone is suited for this surprisingly stressful occupation. Unless you're very talented, it can be difficult to make party planning a career. Know what you're getting into before investing the time and money to create a company. Thanks Helpful 1 Not Helpful 0

You Might Also Like

• ↑ https://www.sba.gov/content/register-your-fictitious-or-doing-business-dba-name
• ↑ https://www.businessknowhow.com/homeoffice/clientmeetings.htm
• ↑ https://www.entrepreneur.com/article/233684
• ↑ [v161267_b02]. 11 February 2020.
• ↑ https://www.entrepreneur.com/article/37892
• ↑ https://www.besthospitalitydegrees.com/faq/what-kind-of-degree-is-helpful-to-become-an-event-planner
• ↑ https://www.mpiweb.org/ProfessionalDevelopment
• ↑ https://learningpath.org/articles/Becoming_a_Party_Planner_Job_Description_Salary_Information.html
• ↑ https://www.sba.gov/content/what-state-licenses-and-permits-does-your-business-need
• ↑ https://www.sba.gov/content/funding-request
• ↑ https://www.entrepreneur.com/article/79594

About This Article

To start a party planning business, start by figuring out what kind of clients and events you’d like to focus on. Additionally, do some research on the party planning industry where you live so you can think about how to set yourself apart. Next, write a business plan detailing exactly what niche you plan to fill and how you plan to accomplish this. Then, pick an unambiguous name for your business that lets potential clients know exactly what type of services you provide. You'll also want to check your state's laws to find out if you need to register your business. To learn how to market your new business on social media sites, keep reading! Did this summary help you? Yes No

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How to Start a Party Planning Business in 14 Steps (In-Depth Guide)

Updated:   April 8, 2024

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The party industry is growing in leaps and bounds around the globe. With a compound annual growth rate (CAGR) of 11.8% from 2023 to 2032, now is a great time to start a party planning business.

This guide will explain how to start a party planning business. Topics include market research, competitive analysis, startup costs, registering an EIN, applying for business insurance, and more.

With demand increasing across the board, from budget-friendly to luxury, there is ample opportunity to carve out your niche. If helping people mark life’s special moments sounds like your dream job, read on for everything you need to start your own party planning business.

1. Conduct Party Planning Market Research

Market research is important for an event planner hoping to craft a successful business plan. As a new event planning company, you should know about your target market, local market saturation, trending event planning services in the event planning industry, and more.

Some of the details you’ll learn through market research for your own event planning business include:

• Several factors are driving this growth. Busy professionals with more disposable income hire planners to pull off events they don’t have time to organize.
• Parents are enlisting many event planners to create Instagram-worthy birthday parties for their kids. And milestone events like weddings, reunions, and corporate gatherings require professional help more than ever.
• While the luxury party planning market is saturated, there remains ample opportunity in the budget-friendly space.

To start an event planning company, planners should target various niches:

• Weddings: Especially budget-friendly packages under $2,000.
• Kids’ birthdays: Focus on themes like dinosaurs, princesses, and superheroes.
• Corporate events: Pitch one-stop services from choosing a venue to arranging catering.
• Holiday parties: Help clients throw stylish Christmas, Halloween, and other themed events.
• Showers: Baby showers, bridal showers, retirement parties.
• Reunions: Help plan school, family, or military reunions.
• Unique experiences: Party buses , paint parties, etc.

With demand increasing across segments, the party and wedding planning industry provides fertile ground for entrepreneurs to launch all types of event planning businesses. By identifying a specific niche and effectively marketing services, new planners can steadily grow their clientele and bottom line.

2. Analyze the Competition

Thoroughly analyzing the competition is critical when starting a party planning company. Here are tips to assess competitor event planners both in your local area and online:

• For brick-and-mortar competitors, identify planners located nearby.
• Visit their websites and social media pages to evaluate services offered, pricing, and types of events planned.
• Note their years in business, reviews, and repeat clients to gauge customer satisfaction.
• Observe their branding and marketing to see if a niche is being underserved.
• To evaluate online competitors, research major planning sites that allow vendors to list profiles like WeddingWire. Search for planners servicing your area across different price points.
• Analyze the services they offer, packages, and how they describe their business.
• Visit their individual websites and social media pages to assess their web traffic, followers, and engagement using tools like SimilarWeb and SocialBlade .
• High traffic and following can signal a strong online presence.
• Search industry hashtags on social media like #birthdaypartyplanning to find local planners promoting their work and engaging with clients.
• Their posts can provide insight into their branding, the types of events planned, and the venues/rentals they partner with. Take note of planners with satisfied client comments.
• Look for gaps in the market – if all local competitors focus on luxury weddings, for example, there may be opportunities for budget kid parties.
• Identify areas competitors are lacking in like styled Instagram content or robust online packages, that you could excel in.
• Track competitors over time by subscribing to their email lists and re-evaluating their digital presence every few months.

Ongoing market research will provide the knowledge needed to position your services where competitors are missing the mark. It also helps refine your unique selling proposition and offerings over time as client demand evolves.

3. Costs to Start a Party Planning Business

When starting a party planning company, there are various one-time start-up costs to consider before opening for business.

Start-up Costs

• Business Registration Fees – $50-$500 Registering your business as an LLC or other corporate structure will incur state filing fees and potentially local licensing fees.
• Business Insurance – $500-$2,000/year General liability insurance protects your business from property damage or bodily injury claims. Professional liability shields against client lawsuits.
• Office Supplies – $500-$2,000 A computer, printer, software, phone, folders, contracts, and other administrative supplies will be needed.
• Website – $200-$5,000 A professional website showcasing services, galleries, and contact forms is essential for attracting clients.
• Branding – $500-$2,000 Professional logo design, business cards, email design template, and other branding elements establish credibility.
• Equipment – $1,000-$5,000 Tablets, cameras, decor items, props, signage, and storage for event supplies will be necessary. Renting certain items can minimize costs. More for luxury items or rooms such as spas , game rooms, etc.
• Initial Advertising – $500-$2,000 Print ads, digital ads, and brochures help introduce your new business to the local market.

Ongoing Costs

• Rent – $200-$2,000/month Many planners operate from a small home office when starting before moving to a storefront. Virtual offices are also an option.
• Utilities – $150-$500/month Expect costs for internet, phone, electricity, and other utilities based on your office needs.
• Business Insurance – $500-$2,000/year Insurance policies must be renewed annually. Review and adjust coverage as your business grows.
• Accounting Software – $10-$50/month Programs like QuickBooks help track income, expenses, invoices, and tax documents.
• Advertising – $100-$500/month Continually promote your services through channels like social media ads, SEO, and email marketing.
• Travel – $50-$500+ per event Site visits, client meetings, and going to events will incur gas, public transit, or rideshare costs.
• Professional Development – $500-$2,000/year Invest in ongoing training on event trends, best practices, and skills development.

By estimating costs across these various categories, new party planners can develop an accurate budget and ensure sufficient capital to cover operating expenses as they build their business. Adjusting forecasts periodically lets you scale spending in step with revenue growth.

4. Form a Legal Business Entity

When starting a party planning company, choosing the right legal structure is key. The four main options each have benefits and drawbacks to weigh:

Sole Proprietorship

This is the simplest structure with no formal registration needed beyond licenses. Party planners can get up and running quickly and inexpensively. However, the owner has unlimited personal liability for debts and lawsuits related to the business. Their assets could be seized, making this a risky choice.

Partnership

A general or limited partnership allows two or more co-owners to share resources and split profits. However, general partners also share unlimited personal liability. Limited partners’ liability is restricted to their investment, but they can’t participate in management. Overall, the shared liability is risky for service businesses like party planning.

Limited Liability Company (LLC)

Forming an LLC offers liability protection for all members while allowing pass-through taxation. This is the best choice for most party planners starting. It limits owners’ risk if sued and keeps things simple tax-wise. Startup costs are low, and single-member LLCs are easy to run.

Corporation

C-corps and S-corps offer the strongest liability protection but have complex regulations and double taxation. This bureaucratic structure can get costly with annual fees and paperwork. Unless seeking investors or going public, most small party planners don’t need to incorporate right away.

5. Register Your Business For Taxes

One key legal step for any new business is obtaining an Employer Identification Number (EIN) from the IRS. This unique number identifies your business for tax purposes.

Here’s how party planners can easily apply for an EIN:

• Go to IRS.gov and search “apply for an EIN”. Click the link to reach the online application.
• Review the instructions and have your information ready – name, address, SSN, and details about your LLC or corporation.
• When ready, click “Begin Application” and follow the short questionnaire. Select the type of LLC you formed.
• On the final page, review your business information. Then submit the form to instantly receive your EIN.

The entire process takes about 10 minutes and there is no fee. The IRS will mail you an EIN confirmation letter for your records in 4-5 weeks.

With your EIN, you can open business bank accounts, apply for licenses, and file taxes. It also enables you to hire employees down the road.

Additionally, party planners must register with their state to collect sales tax on services provided. Requirements vary by location but often include:

• Obtaining a seller’s permit or sales tax ID through your state revenue department.
• Charging sales tax to clients and filing regular returns to remit taxes collected.
• Keeping detailed records of taxable sales and any tax-exempt transactions.

Visit your state revenue website for specifics on registering. Fees typically range from $10-$100 depending on the state.

Handling EIN and sales tax registration upfront ensures your party planning business operates legally and complies with all tax obligations from the start. Take the time to get set up properly so you can focus on serving clients.

6. Setup Your Accounting

As a party planner, meticulous financial records are crucial for tracking income and expenses, maximizing tax deductions, and operating legally. Investing in accounting software and an accountant from the start will save major headaches down the road.

Accounting Software

Programs like Quickbooks allow planners to easily categorize every business transaction, generate invoices, manage payroll, and streamline taxes. The software seamlessly syncs with bank and credit card accounts to automatically import and log payments. This eliminates manual entry and the risk of errors.

Hire an Accountant

While accounting software does much of the heavy lifting, partnering with an accountant adds professional oversight. A qualified accountant provides services like:

• Setting up your bookkeeping, accounting systems, and Quickbooks.
• Training you on proper record keeping and utilizing features of your accounting software.
• Performing monthly reconciliations to identify any discrepancies.
• Preparing and filing quarterly and annual tax returns.

Most planners retain an accountant at least for annual tax preparation and filing. Costs range from $200-$5,000 depending on the extent of services provided.

Open a Business Bank Account

Separating business and personal finances prevents the commingling of funds and avoids red flags with the IRS. Open a dedicated business checking account and credit card only used for company expenses.

Apply for a Business Credit Card

Business credit cards allow you to keep expenses separate while earning valuable reward points on purchases. Limits are based on your business credit profile, not your score. Have an Employer Identification Number (EIN) ready to apply and obtain a higher line of credit.

7. Obtain Licenses and Permits

Before hosting your first event, party planners must ensure they have obtained all required business licenses and permits. Find information for federal licenses through the U.S. Small Business Administration . The SBA also has a local search tool for state and city permits.

Requirements vary based on your city and state, but common licenses include:

• Business License: Nearly all jurisdictions require a general business license to legally operate. Fees are typically $50-$100 annually.
• Seller’s Permit: Obtaining a seller’s permit or sales tax ID enables you to collect sales tax on services provided.
• Food Service Permit: If catering food yourself or hiring food trucks, a food service license is often required. Complete a training course, pay fees, and pass inspections to obtain this permit.
• Liquor License: To serve alcohol at events, party planners need a liquor license approved by the state or county liquor authority.
• Raffle/Gaming License: If hosting contests, raffles, or casino games like at a fundraiser event, you’ll likely need gaming and raffle permits. Follow all regulations around reporting and awarding prizes.
• Zoning Permits: If running your business from a home office, commercial space, or event venue, confirm zoning permits allow for these activities. Make any zoning appeals before signing leases.

Preparing guest lists, floor plans and vendor orders is the fun part of event planning. Don’t let overlooking essential licenses put operations on hold or jeopardize your business. Consult local regulators to identify all required approvals.

8. Get Business Insurance

Obtaining adequate business insurance is crucial for protecting party planners against unforeseen risks that could otherwise sink the company. Being underinsured – or not insured at all – leaves you vulnerable in scenarios like:

• A guest slips and falls at an event, sustaining serious injuries. Without liability coverage, you could be sued for substantial medical bills.
• Severe weather damages or forces cancellation of a major event. The client still expects compensation for losses.
• Expensive AV equipment rented for a corporate party is stolen. Replacement costs could be crippling without protection.

To shield your assets in cases like these, partner with an insurer to obtain key policies:

• General Liability – Covers 3rd party bodily injury and property damage claims. Vital for party planners to interact with guests.
• Professional Liability – Protects against damages if sued for negligent services like a poorly planned event.
• Commercial Property – Reimburses stolen or damaged equipment and decor used for events.
• Event Cancellation – Provides reimbursement for non-refundable expenses if a client’s event is canceled.
• Umbrella Liability – Additional liability limits atop other policies. Useful for large-scale events.

To get insured, contact business insurance brokers. Be ready with info on your LLC and the type/scale of events you plan. Review multiple quotes to find the best rates and coverage for your needs.

9. Create an Office Space

Having a professional office space lends party planners credibility and provides a centralized hub for client meetings and event preparation. The optimal location depends on your budget and stage of business.

Home Office

When just starting, operating from a dedicated home office minimizes overhead. Convert a spare room into a functional workspace for administrative tasks. Meet clients at event venues or coffee shops until you outgrow home-based operations. Costs are limited to decor, supplies, and utilities.

Coworking Office

Coworking spaces like WeWork provide an affordable upgraded office environment as your business expands. Open layouts promote networking with fellow entrepreneurs. You’ll get access to business amenities like conference rooms, printers, kitchens, and tech support for around $200-$500 per month.

Retail Office

For established planners seeking a higher-end presence, consider a storefront retail unit. This allows passing foot traffic and walk-in clients. You can meet with vendors in a conference room and display photos of events. Rent averages $1,500-$4,000 per month.

Commercial Office

Leasing space in a Class A commercial office building lends prestige to corporate clients. Expect amenities like gyms, cafeterias, shared conference rooms, and high-end finishes. Budget at least $3,000 per month for rent plus additional build-out costs.

10. Source Your Equipment

From decor to AV equipment, party planners need access to a wide assortment of event supplies. Here are the top options to acquire the necessary materials whether buying new, used, renting, or leasing:

Brand new party rental inventory allows you complete creative control but comes at a premium. Purchase basics like tables, chairs, linens, flatware, and lighting from event retailers like PartyTime Rentals . Visit restaurant supply stores for high-volume glassware, dishes, and service ware.

Score major savings buying used furnishings and decor from resellers. Check used-party supply retailers and local classifieds on Craigslist and Facebook Marketplace . Thrift stores like Goodwill can yield finds. Garage and estate sales are also prime venues to discover chic vintage items. Take time to hunt for hidden gems.

Renting is ideal for pricier items needed periodically like speakers, projectors, dance floors, and tents. Event rental companies allow you to expand your inventory as needed on a per-event basis. Rates are typically daily or weekly. Coordinate delivery and pickup.

Leasing select premium equipment from specialty companies enables access to high-end gear like bounce houses , photo booths, neon signs, and games. You pay a monthly fee for the length of a multi-year contract. Build leasing costs into your client fees.

11. Establish Your Brand Assets

Crafting a strong brand identity is crucial for party planners to stand out and be remembered. By investing in professional branding elements upfront, you can consistently convey your vision across every touchpoint.

Getting a Business Phone Number

A custom phone number lends legitimacy versus using a personal cell. Services like RingCentral provide toll-free and local numbers with call routing, voicemail, and SMS capabilities.

Creating a Logo and Brand Assets

A polished logo encapsulates your brand personality and specialty. For party planners, an energetic, playful mark is ideal. Use a logo maker like Looka to design options and then refine your vision with a graphic designer.

Complement your logo with branded social media assets, email signatures, proposals, invoices, and contract templates. Apply colors, fonts, and graphical elements consistently for recognition.

Creating Business Cards and Signage

Business cards are essential for in-person networking and events. Include your logo, stylized contact info, tagline, and any certifications that build credibility. Signage like banners and yard signs help promote your brand at venues. Order professional designs from printers like Vistaprint .

Purchasing a Domain Name

Secure a domain name that matches your brand for a cohesive online presence. Aim for your full business name or a memorable short phrase relevant to party planning. Use domain sites like Namecheap and explore extensions beyond .com.

Building a Website

Your website will be a prospect’s first impression of your brand. While DIY builders like Wix make launching easy, consider hiring a web designer on Fiverr for a polished, client-focused site. Include sections showcasing previous events, testimonials, and ways to contact you.

12. Join Associations and Groups

Joining relevant local organizations and online communities provides invaluable connections for party planners. Surrounding yourself with other professionals leads to collaborations, knowledge sharing, and a stronger local network.

Local Associations

Area party and event planning associations offer both networking and learning opportunities. Attend meetups to connect with fellow planners, discuss trends, and discover new venues. Groups like the International Live Events Association provide support through all stages of business ownership.

Consider joining your local chamber of commerce as well to raise visibility among area businesses. The connections made can lead to corporate event leads.

Local Meetups

Keep a pulse on local happenings and expand your network by attending relevant meetups. Use sites like Meetup to find regular events like wedding vendor mixers, marketing seminars, and industry trade shows.

Exchange ideas in person and distribute business cards to event pros you want to partner with. Look for both general networking and party planning-specific meetups.

Facebook Groups

Engage with the national community of planners by joining Facebook Groups like Party Rental Business Owners and Creative Event Planners who are supportive of newcomers. Having an online support system provides camaraderie and advice from peers globally.

13. How to Market a Party Planning Business

Implementing an ongoing marketing strategy is essential for party planners to continually attract new clients. While leveraging your network and stellar customer service form the foundation, mixing digital and traditional tactics will help amplify your reach and brand visibility.

Personal Networking

To start, tap into your existing contacts and ask for introductions to their networks. Offer incentives for current clients to refer friends, which is powerful word-of-mouth marketing. For example, provide a 10% discount on their next event for every new booking referred.

Digital Marketing

For digital marketing materials, consider:

• Search ads through Google Ads targeting keywords like “party planner [your city]”. Track conversions to optimize effective ads.
• Facebook and Instagram ads focused on your ideal demographic and location. Share beautiful event visuals and promotions.
• Start a YouTube channel with tutorials and behind-the-scenes event videos to build expertise.
• Write blog posts about party planning tips to improve SEO and provide value.
• Email marketing campaigns to engage past clients and promote new services.

Traditional Marketing

For traditional approaches, some options include:

• Creating mailers with promotions to send to prospective clients like engaged couples.
• Distributing framed fliers and menus to complementary vendors like caterers.
• Billboard ads in high-traffic areas introducing your new business.
• Radio spots on local stations describing your services and special offers.
• Hosting open house events at your office for the public to meet you.

While digital marketing enables incredible precision and measurement, don’t count out the power of traditional mediums for brands to make an entrance.

14. Focus on the Customer

Providing an incredible client experience is crucial for party planners to earn rave reviews, loyal repeat customers, and word-of-mouth referrals that fuel growth.

Here’s why going above and beyond with customer service pays off:

• A wedding, anniversary party, or baby shower comes just once in a lifetime. By tailoring every detail to the client’s vision and making them feel valued, you create a meaningful experience they won’t forget.
• Satisfied clients will happily refer family and friends planning their celebrations rather than risk them having a subpar experience with another planner.
• Stellar service translates into genuine, detailed reviews. Your reputation hinges on reviews and testimonials.
• When you consistently wow customers, they’ll rave about you online and on sites like The Knot and WeddingWire. This social proof captures the attention of prospective clients.
• Return customers also become a sizable portion of your bookings if you nail their first event.
• Clients planning annual galas or milestone birthdays will come back year after year if you make the process smooth and enjoyable.

For party planners, client satisfaction directly impacts income. By providing responsive communication, anticipating needs, and handling any curveballs with grace, you assure a 5-star experience that brings clients back while attracting new ones through word of mouth.

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April 1, 2024

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BUSINESS STRATEGIES

How to create a party planning business plan

• Nirit Braun
• Sep 12, 2023

When you're kicking off your own party planning business , having a rock-solid business plan is like throwing the perfect event—it's essential. Your business plan isn't just a bunch of fancy words; it's your go-to playbook for making your party planning business a smashing success. This document spells out your goals, your game plan and how you'll keep the cash flowing. Keep reading to learn how to create a solid plan when starting a business in the event planning industry.

Ready to get the party started? Use Wix to start making a website for your business.

Why create a party planning business plan?

Creating a comprehensive and clear party planning business plan provides a structured foundation for your business. It your party planning venture structure and direction by spelling out your mission, goals and target audience (among other details).

Secondly, a well-crafted business plan serves as a crucial tool for attracting investors and raising money for your business . Potential investors and lenders often require a business plan to evaluate your business's potential for success. A well-crafted plan not only shows you've got the chops for party planning but also boosts your credibility, making it easier to secure financial support.

Furthermore, a business plan plays a pivotal role in establishing a professional online presence. As part of the plan, you'll outline steps for getting your brand out there, including creating a business website that showcases your expertise, client testimonials and more.

Finally, a business plan is your tool for facing unexpected challenges. Through thorough market research and competitor analysis, you'll spot potential obstacles and develop contingency plans. This proactive approach gives your party planning business a competitive edge in the event coordination industry.

Read more about how to start a service business .

Executive summary

Company and domain names

Market analysis and research

Operations plan

Marketing and advertising plan

Financial plan

01. Executive summary

The executive summary of a party planning business plan provides a concise overview of the entire plan. It encapsulates the business's mission, target market, range of services, competitive edge and financial projections. This section serves as a snapshot for potential investors and stakeholders, offering a preview of the comprehensive details to come.

To write a clear executive summary for a party planning business, emphasize your unique approach, the types of events you specialize in and your commitment to delivering unforgettable experiences.

Here's an example: “Celebration Haven is a visionary party-planning company dedicated to crafting extraordinary events that leave lasting impressions. With an eye for detail and a passion for creativity, we curate bespoke celebrations for various occasions. Our projected growth anticipates a 30% increase in bookings within the first year as we establish ourselves as a reliable source for exceptional event planning.”

02. Company and domain names

Naming a business is an essential step in the process of making a party planning business plan. A corresponding domain name reinforces our brand and ensures easy online access for potential clients. Consider using a business name generator to find the right name for your business. Once you’ve landed on a small business name , follow the steps for registering your business .

03. Market analysis and research

You should conduct comprehensive market research to identify the demographics and events most in need of expert party planning. Understanding your target audience's preferences and needs can then inform your marketing strategies and business planning. Analyze local and national party planning companies to identify market gaps and opportunities. This analysis can then be used to guide your strategy and service offerings.

04. Operations plan

Consider the following components as part of your operations strategy:

Location: Determine whether you'll operate locally, regionally or virtually. The location affects your reach and the types of events you can cater to.

Equipment: Outline the equipment needed for various event types, such as décor, lighting and audiovisual equipment. Maintain a network of trusted vendors and suppliers.

Staffing: Define the number of event planners and assistants required based on the scope and scale of events. Specify roles and responsibilities to ensure seamless event execution.

05. Marketing and advertising plan

Think about which popular marketing and advertising strategies might work best for your party planning business and then incorporate them into your specific business plan. Some possible examples include:

Event showcases: Host showcases to demonstrate your expertise and creativity to potential clients. Invite them to experience your unique approach firsthand.

Online presence: A professionally designed website will showcase your portfolio, testimonials and event photos. Utilize social media platforms to engage with potential clients and share event insights.

Networking: Collaborate with venues, caterers and other event vendors to create a strong network. Positive collaborations can lead to referrals and a broader client base.

Need a hand with your branding? Use Wix’s logo maker to create a logo for your business.

06. Financial plan

The financial plan section should include the following components:

Startup costs: Estimate expenses for business registration ( starting an LLC ), equipment, marketing materials, insurance and initial event showcases. Plan for an initial investment of $20,000.

Revenue projections: Base revenue projections on the number of events and your competitive pricing. Aim for steady growth, targeting a revenue increase of 20% annually.

Funding: Consider self-funding, personal savings or a small business loan to secure the necessary funds for startup and initial operations.

Profitability timeline: With effective marketing and efficient event execution, anticipate reaching profitability within the first 12 to 18 months.

Party planning business plan example: Dreamy Occassions Events

Part 1: executive summary.

Dreamy Occasions Events is committed to crafting unforgettable events that reflect the dreams and visions of our clients. With a passion for creativity and attention to detail, we offer a range of personalized party planning services. Our projected growth anticipates a 25% increase in bookings within the first year as we establish ourselves as a reputable source for exceptional event planning.

Part 2: Company and domain names

Company name: Dreamy Occasions Events

Domain name: www.dreamyoccasionsevents.com

Our company name, "Dreamy Occasions Events," embodies our dedication to transforming dreams into reality through seamless event planning. The corresponding domain name reinforces our brand identity and ensures easy online access for potential clients.

Part 3: market analysis and research

Target market: Our research highlights the demand for creative and personalized event planning services for weddings, birthdays and corporate events. We will focus on serving clients who seek unique and tailored event experiences.

Competitor analysis: Through competitive analysis, we have identified opportunities to stand out by offering comprehensive event planning packages and innovative design concepts. This analysis will guide our marketing strategies and service differentiation.

Part 4: operations plan

Location: While based in Atlanta, we are open to planning events across Georgia, allowing us to cater to a diverse clientele.

Premises and equipment: We will establish partnerships with trusted vendors for décor, catering and audiovisual needs. Maintaining relationships with reliable vendors will ensure successful event execution.

Staffing: Our team will comprise experienced event planners, designers and assistants, chosen for their creativity, professionalism and dedication to creating extraordinary experiences.

Part 5: marketing and advertising plan

Event showcases: We will organize exclusive event showcases to provide potential clients with a firsthand experience of our creativity and attention to detail.

Online presence : Our website will showcase our portfolio, testimonials and event photos. Social media platforms will be used to engage with potential clients, share insights and build a community.

Networking: Collaborations with venues, caterers and local businesses will strengthen our network and foster referral opportunities.

Part 6: financial plan

Startup costs: Initial expenses will cover equipment, marketing materials, insurance and event showcases. We anticipate an initial investment of $25,000.

Revenue projections: Revenue will be based on the number of events and competitive pricing. We aim for consistent growth, targeting a 20% increase in revenue annually.

Funding: We plan to secure funding through a combination of personal savings, family contributions and a small business loan.

Profitability timeline: With effective marketing strategies and successful event execution, we anticipate reaching profitability within the first 12 to 18 months.

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Business , Your Event Career

How To Start a Party Planning Business in 12 Steps

So, you want to start a business as a party planner? That’s great! Party planning is a fun and exciting industry, and there’s a LOT of potential for success in this field. However, if you want to learn how to start a party planning business, it’s important to remember that it won’t be easy. It actually takes hard work, dedication, and lots of elbow grease to make it in this competitive industry.

But don’t worry – we’re here to help!

In this article, we’ll walk you through everything you need to know to start a party planning business in 12 easy steps, right from scratch. We’ll cover topics like choosing the right niche, building your brand, creating a business plan, and more.

So, let’s jump right into it!

What is a party planner.

A party planner is someone who plans, organizes and runs events for their clients. They’re responsible for all aspects of the event, from planning to execution. A successful party planner should have exceptional organizational skills and be able to handle any type of event – from birthdays, baby showers, and anniversaries to corporate events and weddings.

PRO TIP: Discover the full range of what a party planner does so you have a clear idea of what you can expect!

The benefits of starting your own party planning business.

Starting your own party planning business has tons of potential rewards! It gives you the opportunity to be creative, work with clients and build relationships, and make a good living. Plus, when you’re your own boss, you have the freedom to choose how much or how little you want to work – giving you more flexibility than working for someone else!

What Are the Steps to Starting a Party Planning Business?

Starting any business is no easy feat, and that’s especially true when it comes to party planning. It takes a lot of hard work and dedication if you want to make it in this competitive industry. But don’t worry – if you’re willing to put in the effort, we have the perfect guide to help you get started…

1. Choose Your Niche

The first step is to decide what kind of parties you want to specialize in. This is also called finding your niche . Think about the types of events that interest you and the ones you have experience with – this will help narrow your focus so that you can build a successful business.

For instance, as a professional party planner, you can specialize in any of the following types of parties:

• Baby showers
• Corporate events
• Anniversaries
• Engagement parties
• Bridal showers
• Bachelor parties
• Graduation parties
• Retirement parties
• And SO much more!

2. Get Professionally Trained as a Party Planner

It’s essential that you have the right skills to be a successful party planner! When you have proper training and a legit certification on your resume, it gives your clients confidence in your ability to deliver a great experience. As a result, you’ll be able to:

• Book more clients
• Network more successfully
• Offer better party planning services
• Stand out from your competition
• Make better money

Not to mention, the right certification course will also give you some business training, too. Since you’re here because you want to know how to start a party planning business, this is obviously a must!

So, consider getting professional training in event planning and take courses offered by reputable organizations like the QC Event School .

PRO TIP: If you’re looking to be a party planner, we recommend QC Event School’s self-paced, online Event & Wedding Planning Course ! This 7-unit program can arm you with a globally-recognized International Event and Wedding Planning Professional™ (IEWP®) certification in as little as 3 short months!

3. Know Who Your Target Audience Is

Now that you know what type of parties you’re going to specialize in, it’s time to figure out who your target audience is. Consider demographic factors like age, gender, location, and income level. How old are they? Are they married or single? What type of events do they usually host? How much money can they spend on a party planner?

By understanding these details, you’ll get a better idea of who your ideal client is and be able to tailor your services, brand, marketing efforts, and overall business accordingly!

4. Build Your Brand

Once you know what kind of parties you want to specialize in and you’ve been professionally trained, it’s time to start building your brand . As a business owner, your brand is what will make you unique and stand out from competitors.

In a nutshell, it’s that special thing that will help convince clients to book with YOU instead of somebody else!

So, think about how you want to present yourself and your business to potential clients. For example, do you want a fun and colorful brand or a more sophisticated vibe? How do you want to come across in your messaging and marketing materials? What kind of logo and website do you want? How will you capture the attention of your target market?

These are all key questions to consider when building your brand. From there, make sure your brand (and its visual identity) remains consistent across ALL of your marketing materials. This includes:

• Your website
• Social media accounts for your party planning business
• Business cards
• The tone of voice you use whenever speaking (both online and in-person)
• Emails, etc.

5. Know Where You Plan To Run Your Business From

As a party planner, you have numerous options in terms of where you want to operate your business. For instance, you can run it from home or rent a space in an office building. Or, you can also become a virtual party planner and offer your services online.

It all depends on your preferences and budget, but whatever you decide – make sure it allows you to accommodate all of the necessary party planning supplies and materials. That way, you can provide the best possible service for your clients!

Interested in virtual party planning? Learn everything you need to know in less than a month with the help of QC’s Virtual Events Training mini course !

6. set your party planning service rates.

When starting a party planning business, you want to make sure that you set the right price for your services. Depending on what kind of parties you specialize in and the amount of time required to plan them (not to mention the cost of materials), your rates may vary from client to client.

So, it’s a good idea to have a few different pricing options available, such as hourly rates or flat-fee packages. Just make sure that whatever you decide to charge your clients is both competitive and fair for the market you are serving in.

Remember: you don’t want to undersell your services – but you don’t want to overcharge for them either!

7. Create Your Party Planning Business Plan

Creating a business plan is the next step in starting your business as a party planner. A business plan is like a roadmap that outlines the key details of your business, including:

• Your mission statement
• An executive summary of your party planning business
• Short-term and long-term goals
• A SWOT analysis (strengths, weaknesses, opportunities, and threats)
• A detailed description of the services you offer
• Your target market
• Competitor analysis
• Financial highlights and future projections
• Marketing and advertising plans
• And so forth!

There are several reasons why you should develop a business plan. For starters, it’ll help you articulate your strategy for success and gain the confidence of any potential investors (such as a bank). It’ll also serve as a reference guide if ever need to make changes down the line.

At the end of the day, though, it’s important to remember that your business plan is unique to your business’s needs and objectives. Furthermore, it should also be reviewed and updated regularly as your business evolves and grows.

Need help writing your business plan for the first time? Small Business Administration has an article that breaks the process down into more detail – and even offers a couple examples to better help you visualize what you should be doing!

7. Get the Necessary Licenses and Insurance for Your Party Planning Business

When starting a party planning business, you’ll need to obtain the necessary licenses and insurance. The type of license you’ll need will depend on your location and the services you offer as a party planner.

Generally, though, some of the licenses you may require include:

• Business License
• Liquor License (if applicable)
• Food Handler’s Certificat e (if applicable)

In terms of insurance coverage, this will vary depending on the type of activities and services you offer as a party planner. At the very least, you should look into getting general liability insurance to protect yourself from any potential claims or lawsuits.

You can also speak with an insurance broker to discuss more specialized coverage that may be suited for your business (such as event cancellation/rain insurance).

8. Get Some Experience Under Your Belt

Unless you already have some experience planning events, it’s a good idea to get some practice before launching your party planning business.

This could involve taking on some volunteer projects or low-budget gigs at first. That way, you’ll have the opportunity to gain more experience and build up a portfolio of successful parties to showcase!

Another awesome idea is to take part in a stylized photoshoot . Working with a photographer and stylist, you can create a few mock parties to provide potential clients with visuals of what they might expect when working with your business. No, you probably won’t get paid to organize a styled shoot – however, the high-quality content you can then use in your portfolio will be worth its weight in gold!

Lastly, another idea for getting real-world experience is to turn to people you know, such as friends and family. Offer to plan small gatherings and get-togethers, or even help out with other people’s events. This will give you the opportunity to learn more about the industry, even if it isn’t in a paid capacity.

9. Put Together a Solid Professional Portfolio

Your professional portfolio should be the envy of any potential client. Therefore, it’s important to put together one that stands out and is reflective of your skills as a party planner!

How To Build a Party Planning Portfolio

When building your portfolio, make sure to include visuals of any parties you have organized in the past and provide details such as:

• Short description of the event
• Purpose of the event
• Goals/objectives achieved
• Challenges faced
• Details of how you overcame them
• How you exceeded expectations (if applicable)

The more detail and visuals you can include in your portfolio, the better. After all, it will give potential clients a good idea of what they can expect when working with you!

10. Build Your Business Website and Social Media Presence

Creating an online presence is necessary for any business, especially if you’re starting a party planning business. This will help potential clients discover your services and showcase your work online.

Your Website

When setting up your website, make sure to include information about yourself (including experience and qualifications), the types of services you offer, and examples of past work. You can also create some sort of booking service/application form on your website to make it easier for potential clients to get in touch with you.

Social Media Accounts

In addition to your website, you’ll also want to set up a presence on the various social media platforms, such as:

This will help build an online community and increase awareness of your business. You can then post pictures from past events, details about upcoming parties you’re planning, industry advice, and other awesome types of content. Just make sure that you’re posting on a regular basis and always replying back to anyone who comments or DMs you!

11. Determine (and Implement) Your Marketing Strategies

Having a solid marketing strategy is key to the success of any business, so it’s essential that you come up with one for your party planning business too. How will you reach potential clients and how are you going to market yourself?

Some ideas include:

• Creating online ads (Google AdWords, Facebook Ads, etc.)
• Making use of influencer marketing
• Working with local media outlets (newspapers, TV, etc.)
• Maximizing email campaigns
• Attending industry events and networking
• Creating a newsletter
• Utilizing traditional outdoor advertising (billboards, flyers, etc.)

Real talk: your marketing strategy can be the very thing that makes or breaks your party planning business. I know, no pressure, right? We’re not trying to freak you out or anything… But seriously, make sure to think through your strategies and come up with ones that fit your budget and target audience!

11. Start Networking

Networking is another important step in the process of starting a party planning business. The reason for this is quite simple: networking will help you get the word out about your services, as well as give you the opportunity to learn from other party planners.

So, how should you network?

Well, the best way to network is to attend industry events and meet-ups. Here, you can make connections with other professionals in the field, share ideas, and learn from each other. You can also join online forums, groups, and association to continue building up your network.

12. Keep Learning and Stay Up-to-Date With Industry Trends

Finally, in order to stay relevant and up-to-date with the latest industry trends, it’s important to set aside time to continually be learning.

This may include attending workshops or seminars related to party planning, reading books and articles from experienced professionals in the field, or subscribing to industry websites/blogs for updates. By doing this, you’ll be able to stay on top of the latest trends and make sure that your parties are always ahead of the curve!

Frequently Asked Questions

Now that you know how to start a party planning business from scratch, let’s answer some of the most frequently asked questions about this journey:

Q: How much does it cost to build a professional party planning business?

A: How much you have to invest in your business depends on what kind of services you plan to offer and how much overhead costs (such as rent, utilities, advertising, etc.) you have to pay. Generally speaking, the cost of starting a party planning business can range from a few hundred dollars up to tens of thousands, depending on your budget.

Q: Can you start a business as a party planner while earning your certification, or should you wait until you’re certified?

A: That’s really up to you! If you’re confident in your skills and have enough experience, then there’s no reason why you can’t start building your party planning business while you’re still earning your certification. However, if you’re feeling overwhelmed or don’t have enough experience yet, it may be best to wait until you finish the certification process before jumping in.

Q: How long does it take to start a party planning business?

A: How long it takes to start a party planning business really depends on how much research, planning and preparation you’re willing to put in. It can take anywhere from a few weeks to a few months, depending on the type of services you offer and how quickly you want to get started. Once you have a plan of action and have taken the necessary steps to bring your business vision to life, you’ll be well on your way to becoming a successful party planner!

Q: How long should you expect to wait before seeing a profit?

A: It again depends on a few factors, such as the types of services you offer, how much time and effort you’re willing to invest in the business, and how much of a budget you’ve allocated for marketing and promotion. Generally speaking, it can take anywhere from a few months to a year before you start seeing consistent profits.

Q: Is party planning a good side hustle?

A: Absolutely! Party planning is a great side hustle for people who love planning events and have an eye for detail. It’s also a great way to make a part-time income without having to take on full-time hours. Plus, as your business grows, you can always consider taking on more clients, expanding your services, and making your business a full-time endeavor down the road.

Q: How much do party planners make per year?

There’s no definitive answer to this question as every party planner’s income is dependent on their services, expenses, and how many events they take on. Generally speaking, though, ZipRecruiter reports that party planners in the United States alone tend to make anywhere from $13,500 to $79,500 USD annually.

Q: What are some must-have supplies that all party planners need?

A: Some of the most important supplies you should have as a party planner include things like decorative items, catering supplies, sound systems/PA equipment, and event planning software. These will help you ensure that all of your parties are well-prepared, organized, and run smoothly.

In terms of running your party planning business, we recommend investing in the following items:

• A business plan
• A registered business name
• Organization tools, such as a calendar and daily planner
• A proper website domain
• Marketing materials (flyers, brochures)
• Accounting software
• And any necessary legal documents such as insurance, contracts, etc.

PRO TIP: Check out our full list of the BEST tools to help you grow your party planning business successfully!

Q: where can you buy party planning supplies.

A: You can buy party planning supplies from a variety of suppliers, both online and in-person. Online stores such as Amazon or Party City are great resources for finding decorations, catering supplies, sound equipment, and more. Local party supply stores can also provide you with everything you need to make your parties memorable.

Q: How do party planners get clients?

A: The best way to get clients as a party planner is through networking and building relationships. You can start by attending local events or industry conferences and introducing yourself to potential clients. Additionally, you should also consider marketing your services on social media platforms such as Facebook or Instagram.

Another business-savvy way to attract and book clients is by offering them some sort of pricing incentive. For example, you could offer discounts on services or free consultations in exchange for referrals. This will help build your reputation, and it’s a great way to get new clients.

Finally, don’t forget about word of mouth! Ask friends and family to spread the word about your business and refer you to anyone who’s looking for a party planner.

Hopefully, this guide has given you all the information you need to start a successful party planning business from scratch. When it comes down to it, running a successful business is all about staying organized and having the right resources at your disposal. With the right planning, dedication, and effort, you can turn your party planning business into a thriving success!

Become a party planner in as little as 12 short weeks by starting your self-paced, online certification training with QC Event School. Enroll today !

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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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How to Start a Party Planning Business

Starting a party planning business can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below you will learn the keys to launching a successful party planning business.

Importantly, a critical step in starting a party planning business is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here .

Download our Ultimate Business Plan Template here

14 Steps To Start a Party Planning Business :

• Choose the Name for Your Party Planning Business
• Develop Your Party Planning Business Plan
• Choose the Legal Structure for Your Party Planning Business
• Secure Startup Funding for Your Party Planning Business (If Needed)
• Secure a Location for Your Business
• Register Your Party Planning Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Party Planning Business
• Buy or Lease the Right Party Planning Business Equipment
• Develop Your Party Planning Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Party Planning Business
• Open for Business

1. Choose the Name for Your Party Planning Business

The first step to starting a party planning business is to choose your business’ name.  

This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your own business:

• Make sure the name is available . Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
• Keep it simple . The best names are usually ones that are easy to remember, pronounce and spell.
• Think about marketing . Come up with a name that reflects the desired brand and/or focus of your party planning business.

2. Develop Your Party Planning Business Plan

One of the most important steps in starting a party planning business is to develop your business plan. The process of creating your plan ensures that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your business.

Your business plan should include the following sections:

• Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your party planning business.
• Company Overview – this section tells the reader about the history of your party planning business and what type of event planning business you operate. For example, are you an event planner, catering company, or an event venue?
• Industry Analysis – here you will document key information about the party planning industry. Conduct market research and document how big the industry is and what trends are affecting it.
• Customer Analysis – in this section, you will document who your ideal or target market are and their demographics. For example, how old are they? Where do they live? What do they find important when purchasing services like the ones you will offer?
• Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
• Marketing Plan – your marketing plan should address the 4Ps: Product, Price, Promotions and Place.
• Product : Determine and document what products/services you will offer 
• Prices : Document the prices of your products/services
• Place : Where will your business be located and how will that location help you increase sales?
• Promotions : What promotional methods will you use to attract prospective clients to your party planning business? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.
• Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
• Management Team – this section details the background of your company’s management team.
• Financial Plan – finally, the financial plan answers questions including the following:
• What startup costs will you incur?
• How will your party planning business make money?
• What are your projected sales and expenses for the next five years?
• Do you need to raise funding to launch your business?

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3. choose the legal structure for your party planning business.

Next you need to choose a legal business structure for your own event planning business and register it and your business name with the Secretary of State in each state where you operate your business.

Below are the five most common legal structures:

1) Sole proprietorship

A sole proprietorship is a business entity in which the owner of the event business and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.

2) Partnerships

A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a party planning business together. The partners share in the profits and losses of the business. 

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

3) Limited Liability Company (LLC)

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a party planning business include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

4) C Corporation

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a party planning business is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

5) S Corporation

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Once you register your party planning business, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.

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4. Secure Startup Funding for Your Party Planning Business (If Needed)

In developing your party planning business plan, you might have determined that you need to raise funding to launch your business. 

If so, the main sources of funding for a party planning business to consider are personal savings, family and friends, credit card financing, bank loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a party planning business that they believe has high potential for growth.

5. Secure a Location for Your Business

When starting an event planning company, the first thing you need to do is find a location. You’ll want to find a space that’s big enough to accommodate your business operations and client meetings. It’s also important to find a location that’s affordable and accessible. You may want to start by looking for an office space or commercial property for rent in your desired area. 

6. Register Your Party Planning Business with the IRS

Next, you need to register your business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.

7. Open a Business Bank Account

It is important to establish a bank account in your party planning business’ name. This process is fairly simple and involves the following steps:

• Identify and contact the bank you want to use
• Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
• Complete the bank’s application form and provide all relevant information
• Meet with a banker to discuss your business needs and establish a relationship with them

8. Get a Business Credit Card

You should get a business credit card for your party planning business to help you separate personal and business expenses.

You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your business. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.

9. Get the Required Business Licenses and Permits

The licenses and permits you will need to start an event management company will vary depending on your location. You may need a business license, a food license, a vendor’s license, and a special event permit. You should contact your local licensing agency or municipality to find out what specific licenses and permits you will need.

10. Get Business Insurance for Your Party Planning Business

There are a few types of insurance that you will need to operate a party planning business.

Some business insurance policies you should consider include:

• General liability insurance : This covers accidents and injuries that occur on your property. It also covers damages caused by your employees or products.
• Auto insurance : If a vehicle is used in your business, this type of insurance will cover if a vehicle is damaged or stolen.
• Workers’ compensation insurance : If you have employees, this type of policy works with your general liability policy to protect against workplace injuries and accidents. It also covers medical expenses and lost wages.
• Commercial property insurance : This covers damage to your property caused by fire, theft, or vandalism.
• Business interruption insurance : This covers lost income and expenses if your business is forced to close due to a covered event.
• Professional liability insurance : This protects your business against claims of professional negligence.

Find an insurance agent, tell them about your business and its needs, and they will recommend policies that fit those needs. 

11. Buy or Lease the Right Party Planning Business Equipment

To start a party planning business, you will need some essential equipment. You’ll need some basic office supplies, including a computer, pens, paper, and folders. You may also need office furniture such as a desk or table, chairs, a printer, a fax machine, and a phone to communicate with potential clients. Additionally, you may need a vehicle to transport supplies and equipment to your events.

12. Develop Your Party Planning Business Marketing Materials

Marketing materials will be required to attract and retain customers to your party planning business.

The key marketing materials you will need are as follows:

• Logo : Spend some time developing a good logo for your party planning business. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your brand.
• Website : Likewise, a professional party planning business website provides potential customers with information about the services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how customers perceive you.
• Social Media Accounts : establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media platforms will help customers and others find and interact with your party planning business.

13. Purchase and Setup the Software Needed to Run Your Party Planning Business

In order to start a party planning business, you will need accounting software, event management software, and a website. You may also want to invest in software that can help you create invitations, manage guest lists, and keep track of payments.

There are a number of different software options available, so you should be able to find one that meets your needs.

14. Open for Business

You are now ready to open your party planning business. If you followed the steps above, you should be in a great position to build a successful business. Below are answers to frequently asked questions that might further help you.

How to Finish Your Ultimate Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your party planning business plan?

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

How to Start a Party Planning Business FAQs

Is it hard to start a party planning business.

No, it is not hard to start a party planning business. The most important thing to do is make sure you have a clear business plan and a good marketing strategy. You also need to be organized and have a lot of energy, because party planning can be hard work.

How can I start a party planning business with no experience?

There are a few things you can do to get started in party planning without any experience. First, you can read online resources about party planning to get a basic understanding of the process. You can also join online communities or forums related to party planning to learn from others who have more experience. Finally, you can attend workshops or classes to gain more knowledge and event planning skills.

What type of party planning business is most profitable?

The most profitable type of party planning business is one that specializes in large events, such as weddings and corporate functions. These events require a lot of planning and coordination, and businesses that are good at this can charge high prices for their services.

How much does it cost to start a party planning business?

To start an event planning business, it will cost you between $2,000 and $10,000. This includes the cost of setting up a business entity, obtaining licenses and permits, and purchasing necessary equipment.

What are the ongoing expenses for a party planning business?

The ongoing expenses for a party planner can vary depending on the size and scope of the business. However, some of the most common expenses include marketing and advertising, employee salaries, materials, rent and utilities.

How does a party planning business make money?

A successful event planning business can make money by charging a fee for their services, by selling party supplies, or by receiving donations from the party guests. Many event planner s can also make money by holding workshops and classes to teach people how to plan their own parties.

Is owning a party planning business profitable?

Yes, a party planning business is profitable because it offers a unique service that is in high demand. Party planners can also charge relatively high rates for their event planning services, since clients typically value the convenience of these services and the expertise of the party planner. 

Why do party planning businesses fail?

There are a number of reasons why party planning businesses fail. One reason is the business might not have a solid business plan in place. Another reason might be that the business owner does not have the necessary skills to run successful parties and events . Finally, the business might fail because it is unable to compete with other business owners in the industry.

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How to Start an Event Planning Service Want to be an event planner but not sure how to start your own event planning service? Discover how to start this business in our step-by-step guide.

Some people get a lot of personal and professional joy out of making big events and special days even better for their attendees. If you have the hosting itch, and if you love to tackle complex problems and make big days go smoothly, you might have a future as a professional event planner.

But whether you choose to work alone or with a small team, starting an event planning service is no small task. Today, let's break down how to start an event planning service step-by-step.

What are the basics of event planning?

Event planning is the art (and sometimes science) of event ideation, planning, coordination and operation. When a big, important event needs to go smoothly, it's time to call an event planning service or coordinator.

Event planners are key service providers who can ensure event production and execution happens smoothly. They perform these duties for trade shows, senior events, nonprofit galas and much more.

Related: Find Your Event-Planning Niche

Event planning is most often used for purposes like:

• Big educational meetings, like graduations or conferences.
• Major promotions, like marketing events, product launches and fashion shows.
• Corporate events, like after-work cocktail hours, galas, etc.
• Celebrations and social events like parades, weddings, birthdays, reunions, etc.

Event planning is highly important to make sure the above and other major events go off without a hitch, especially so that the most important guests can enjoy themselves.

The primary duties of full-time or part-time, on-site event planner jobs include:

• Doing research prior to the big event.
• Event design and team-building for project management.
• Finding the appropriate site for the event.
• Creating event budgets and running fundraisers if necessary.
• Arranging for decor, entertainment and food for the event.
• Sending invitations to potential attendees.
• Planning transportation for attendees to and from the event.
• Arranging any other necessary accommodations, like seating.
• Coordinating activities for event personnel, like caterers or entertainers.
• Supervising activities at the event site.

The events industry, both for wedding planning and other events, requires good communication skills. Additionally, obtaining a bachelor's degree in public relations or related areas can be helpful but is not absolutely required. Let's look closer at this job type and business.

Why do people hire event planning services?

People primarily hire event planning services for two reasons:

• So that event-goers and guests of honor can enjoy themselves without focusing on the event.
• So that the event in question goes smoothly.

Imagine a typical example of a wedding. Many engaged couples hire event planners or event planning services to coordinate, organize and carry out their wedding plans. In this way, the couples can enjoy their special days and focus on getting married rather than worrying about things like catering, parking and kicking out rowdy guests. Instead, the wedding planner takes care of that stuff.

Furthermore, 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 love hosting parties and the thrill of organizing a complex event and running it without an issue. Planners often have to handle many moving parts at once. Many event planners have histories as managers or coordinators in other industries. You should become an event planner or start your own event planning service if you feel that you would enjoy this kind of work.

It's also worth noting that event planning often requires you to work on weekends or holidays (since these are the days when people have free time to schedule and hold events), as well as handle chaotic, sometimes confusing work and competing agendas. You should also consider acquiring certification for your event planning service, as it can help you acquire relevant professional skills and attract more job opportunities . Meeting Professionals International (MPI) is an association that offers a list of degrees and certificates from colleges and universities. The right degree or certification can lead to more job opportunities and even pave the way to a higher salary.

Alternatively, try to become a CSEP or Certified Special Events Professional or CMP or Certified Meeting Planner. Both of these are given out by the MPI or the ISES (International Special Events Society), which also highlight your skills and designate you as an expert event coordinator.

Now that we've covered the basics, let's get into the steps you need to take to start an event planning service:

Step 1: Make your company

Your first step involves making your company and filing the right paperwork. You should first draw up a business plan, which will include details like:

• The business's name.
• The business's tax structure (like a sole proprietorship, LLC, etc.).
• How you'll make a profit.

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

You'll also want to get an EIN, or employer identification number. This will allow you to hire employees for your event planning service if you desire later down the road.

Step 2: Choose your target market

Next, do market research and pick the target market you want to work for. For instance, if you want to primarily work with weddings, you need to research that target market to know how much to charge for your services, what's involved and what you need to be experienced in.

By doing some research ahead of time, you won't find running your first events to be too overwhelming. You'll also know how much to advertise your event planning service to be competitive relative to other services in the area.

Step 3: Consider startup costs

When you start an event planning business, you'll have to consider startup costs. Working from home or primarily by yourself will keep costs low as opposed to hiring employees (who will require salaries).

However, if you want to expand your event planning business, you'll eventually need extra equipment, business premises like an office or warehouse and more. All of these things can add up, impacting the kind of business you begin.

Note that you can always scale your business after acquiring steady work. For instance, you can start off as a one-man event planning service that only provides services to small events you can tackle by yourself. After you save up some money from some successful jobs, you can hire a few more employees and rent out a warehouse for your equipment, like cameras, chairs and more.

Step 4: Understand the work involved and hire employees (optional)

For your event planning service to be successful , you need to fully grasp the nature of the work involved and understand whether you should hire employees.

Planning and executing an excellent event generally involves:

• Designing the event, which means sketching out the feel or look of the event in question. Some clients will have very specific ideas you'll need to incorporate into the design.
• Putting together a proposal for your clients so they can improve your plans.
• Organizing the event, which involves almost everything else, like renting the site for the event, hiring vendors, hiring entertainers, organizing caterers and much more.

There's a ton of work that goes into planning even the smallest event. Fortunately, as you acquire experience, you'll be more adept at anticipating and completing this work.

Related: The Event Planning Recipe for Success

Generally, the larger the events you want to manage and coordinate, the more employees you need to hire. At a certain point, you can't be everywhere at once! Consider hiring employees when you have the cash to do so; this will allow you to plan events for larger groups of people and make more of a profit.

Step 5: Settle on a price structure and fee basis

How you price your event planning business will impact how often you get requests. You can determine your pricing structure and fee basis by things like:

• The market segment you serve: For instance, social events usually have different fee structures than corporate events.
• Your geographic location: If you have a higher cost of living, you are justified in charging your clients more to plan their events.
• Your experience and reputation: As your business gets a reputation for success, you'll be able to charge a higher premium for your services.

Step 6: Start marketing your event planning service

Once you have all of your ducks in a row and you know how to charge your clients, you can start marketing your event planning service. Do this online through Google PPC (pay-per-click) ads, social media marketing and other efforts. Don't hesitate to use in-person marketing materials, like posters or TV ads, as well.

Related: 8 Savvy Ways to Promote Your Event Planning Business

As you can see, starting an event planning service is a matter of preparation and deep consideration. If you plan everything properly, your event planning service will launch smoothly, and you'll get your first batch of clients in no time.

Check out Entrepreneur's other guides and resources today!

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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.

Written on February 17, 2022

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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Start an Event Planning Business In 7 Steps

By Homebase Team

You’ve got the passion and the vision. Maybe you’ve even helped plan a friend’s wedding or a company party. But taking the leap into starting your own event planning business? That’s a whole new ballgame, and it’s normal to feel lost or overwhelmed.

It’s about practical steps, hard work, and a sprinkle of creativity.

From identifying your target market to tackling legal requirements, we’ll walk you through everything you need to know, without the runaround. We’ll even give you a heads-up about tools like Homebase that could be useful down the line.

Get your team in sync with our easy-to-use, all-in-one employee app.

1. Research and market analysis

The first step is to have a clear picture of the market landscape. Your goal? Uncover opportunities and threats, so you can position your business effectively. 

Here’s how you can approach it, step by step:

• Identify your competitors: Who’s already out there? What services do they offer, and at what price points? 
• Understand your target audience : Who are you catering to? What are their needs and budgets? If your area hosts many small businesses, maybe affordable launch events are a niche.
• Analyze trends and demands : What’s trending in your area? Farm-to-table weddings or tech-savvy corporate gatherings? Tools like Google Trends are a goldmine.
• What makes your region unique, and how can you leverage it?
• What mistakes have others made that you can learn from?
• What support networks (vendors, venues, etc.) are available locally?

These steps are the foundation of your business. Research wisely so your choices are data-driven, not just gut feelings.

2. Decide on your niche, services, and branding

Once you’ve got a grip on the market, it’s time to carve out your own space. Choosing a niche is more than picking a category; it’s about finding where your passion and the market’s need intersect. 

Here’s how to approach it:

• Find your niche : Are you aiming for tech conferences, startup launch events, or perhaps industry-specific trade shows? Identify what excites you and what’s in demand in your area. For example, if you live in a tech hub, focusing on tech-related corporate events could be your sweet spot.’
• Define your services : What will you offer within your niche? Will you offer end-to-end solutions or specialize in certain aspects like venue selection or guest management? Perhaps your forte is virtual event planning, catering to remote teams.
• Logo and visuals : These should echo your style and the feel of the events you plan.
• Mission statement : What sets you apart in the business event landscape? Is it your innovative approach or unbeatable vendor connections?
• Value proposition : Clearly define what clients will gain by choosing your service. Is it the seamless integration of technology or the unique venues you offer?

Deciding on a niche is all about focusing your energy where you can truly shine. This is where your business starts to feel real, so take the time to get it right.

3. Build a business plan and establish pricing

Let’s say you’re launching your event planning business, focusing on corporate events like conferences and product launches. You’ve recruited a small team, and one of your first projects is a week-long business expo in a city with stringent labor regulations.

Suddenly, you find your team working longer hours, right on the edge of breaching overtime rules. Failure to comply with local labor laws could mean fines, not to mention the potential harm to your budding reputation. It’s a real headache that you didn’t need at such a critical time.

With a platform like Homebase, you can easily access information on local labor laws, calculate correct overtime pay, and even consult live with a certified advisor to review your staffing plan. 

Plus, establishing pricing demands a clear understanding of costs, including potential legal costs. With access to Homebase’s digital library of guides, training, and templates tailored to your business, you’ll be well-equipped to build a solid, compliant foundation to build a sustainable and legally sound business.

4. Start networking and community-building

Your network isn’t just about gathering names and numbers. It’s about building a community that you can rely on, and that trusts you in return.

Here’s how you can build your network effectively:

• Suppliers and vendors : Establish relationships with dependable suppliers. If you’re organizing a tech conference, having a reliable tech supplier ensures that you’ll have the latest gadgets and gear on time. No last-minute scrambles, no disappointed clients.
• Venue partnerships : Negotiate partnerships with unique venues. Let’s say you find a modern, eco-friendly building that resonates with your client’s brand for a product launch. Forming a relationship with this venue could mean exclusive access to future events.
• Event-related alliances : Collaborate with other event-focused businesses. If you’re planning a business gala, team up with a renowned local chef to offer exclusive catering options, turning a standard meal into a gourmet experience.
• Community engagement: Don’t just network; engage with your community. Attend local business events, join professional groups, and actively participate. When you’re planning a charity fundraiser, having strong community ties can amplify your reach, making the event a true success.

5. Develop online presence and marketing strategy

Your online presence isn’t just a part of your marketing strategy; it’s often the first impression potential clients will have of your business event planning services. 

Here’s how you can ensure it’s a lasting one:

• Website : Your website is your digital storefront. Make it sleek and professional, highlighting your previous successes. Include a portfolio of past business conferences or trade shows, so potential clients can see your expertise in action.
• Social media : Utilize platforms like LinkedIn and X (formerly Twitter) to engage with other professionals. Share valuable insights about event planning, showcase behind-the-scenes preparations, and celebrate successes.
• Content marketing : Start a blog or a YouTube channel sharing behind the scenes in planning your grand opening and other tips starting your business events . By offering free, valuable content, you position yourself as an expert, attracting clients who value your insights and approach.
• SEO and advertising : Invest in Search Engine Optimization (SEO) and targeted advertising to reach potential clients actively looking for event planning services. If a business is searching for a planner for their next big product launch, you want to be at the top of their search results.
• Client testimonials : Encourage satisfied clients to leave positive reviews on platforms like Google My Business. Imagine a potential client reading a rave review about the seamless execution of a recent business expo you organized. That’s a powerful motivator.

6. Determine how you’ll manage sales and customer relationship management (CRM)

Sales and CRM are the heart of your event planning business; they keep the clients coming and the relationships growing.

• Understand your clients : Know what businesses are looking for in an event. Are they aiming for an innovative product launch or an elegant corporate dinner? Understanding their needs ensures you can pitch the perfect event.
• Use CRM tools : Tracking interactions, setting reminders, and managing follow-ups become streamlined. With CRM tools, you’ll never miss a follow-up call after a successful sales meeting. 
• Create customized proposals : Tailor your proposals to each client. If a business wants to host an eco-friendly conference, present a proposal showcasing your expertise in sustainable event planning. It’s personal touches like these that seal the deal.
• Provide exceptional service : After the contract is signed, the real work begins. Regular updates, clear communication, and exceeding expectations turn a one-time client into a long-term partner. Think of a client so impressed with the launch event you planned that they automatically think of you for their next one.
• Ask for feedback : Post-event, request feedback and address any concerns promptly. If something didn’t go as planned during a seminar, knowing what went wrong and fixing it turns a potentially negative experience into a showcase of your professionalism.
• Maintain relationships : Don’t let the connection go cold after the event. Send thank-you notes, share relevant content, or simply check in from time to time. It’s these small gestures that keep you in their minds for future events.

7. Consider how you’ll run your small business into the future

Initially, it might be just you and some contractors, but as you secure more contracts for business conferences, product launches, or corporate retreats, you’ll likely need to expand your team. 

When this growth happens, you can use a tool like Homebase to handle time-sensitive events and simultaneously juggle timesheets , payroll, hiring and onboarding , and compliance. With Homebase, you can directly link team members’ timesheets with their time tracking data, so you can round accurately and legally. 

It also lets you set up communication alerts to avoid staff accidentally rolling into expensive overtime and send team members reminders to take their breaks and clock out of work on time.

Plus, Homebase’s scheduling and manager log can be integrated with your point-of-sale system, so you can easily track when your peak periods are and assign staff accordingly. Add notes and give a human perspective on the data collected, all aimed at streamlining operations and boosting staff engagement further.

Get your event planning business on track with Homebase

From market analysis to networking, each step has its own challenges. How do you find the right vendors? What strategies will make your online marketing effective? How do you handle customer relationships as the business scales? 

And what about the backend, operations, and team management? With an all-in-one HR and team management solution like Homebase, you can set and review internal policies, onboard new team members, and run payroll all in one place, even accessible on the cloud. 

By combining time tracking with scheduling, payroll, and communication tools, you’re not just managing your team, you’re efficiently handling everything from assigning shifts to making payments. Advanced clock-in verification tools help you monitor when staff members are working, be it on-site or off-site.

And with our free plan , you can access many of these high-impact features for up to 20 employees at a single location without any cost.

FAQs about starting an event planning business

Is event planning profitable.

Yes, event planning can be profitable. The key is identifying your niche, whether it’s weddings, corporate events, or social gatherings, and tailoring your services to meet those specific needs. Profitability may vary based on location, experience, and scale, but with proper planning and execution, an event planning business can be both a rewarding and financially successful endeavor.

How do you start as an event planner?

You can start as an event planner by: 

• Identifying your niche and target market
• Building a business plan outlining your services, pricing strategy, and marketing approach
• Acquiring necessary certifications or training to enhance your credibility
• Networking with vendors, venues, and other industry professionals
• Creating an online presence with a professional website and active social media accounts
• Offering initial services to friends or family to build your portfolio 
• Gradually, expanding your reach through word-of-mouth and online advertising
• Being detail-oriented, creative, and customer-focused 

Remember:  This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.

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Get Your Party & Event Planning Business Essentials Today!

Foster growth with 250+ time-saving, business-specific templates. Swift designs, easy tools, all in one place.

Starting Your Party and Event Planning Business

Diving into the world of party and event planning offers an exhilarating opportunity to bring joy and memorable moments to people's lives. The first step towards this rewarding career is immersing yourself in the industry's vibrant atmosphere. Understanding the ins and outs, from selecting superb venues to orchestrating impeccable timing, is paramount. It's about becoming a maestro, where every detail contributes to the symphony of a successful event. Networking with seasoned professionals while nurturing a flair for creativity will set you apart. Embrace the essence of innovation by always being on the lookout for dynamic trends that can elevate your events from great to extraordinary.

The Challenge of Initial Investment

When considering how to start in the realm of party and event planning, the first hurdle often encountered is the initial investment required. It's not just about having a flair for coordination or an eye for detail; there's a tangible financial commitment. From securing a workspace to investing in planning software, the costs can add up quickly. Furthermore, building an inventory of decorations or catering equipment can significantly strain your budget. Navigating this phase requires careful financial planning and perhaps seeking external funding or loans.

Building a Reliable Vendor Network

The success of an event planning business heavily relies on the strength of its vendor network. It's one thing to know how to start conversations with potential vendors; it's another to seal deals that are beneficial both cost-wise and in quality. This entails a lot of research, meetings, and negotiations. Establishing trust with vendors ensures not only competitive pricing but also reliability and quality service delivery. It's a step that demands patience, persistence, and exceptional communication skills.

Marketing Your Unique Value Proposition

In the saturated market of party and event planning, standing out might seem daunting at first glance. Identifying and communicating your unique value proposition is crucial. This involves understanding what you can offer that others don't - be it niche markets, specific themes, or unique vendor relationships. Crafting your marketing strategy around this uniqueness will attract your target audience more effectively. Social media platforms and online marketing can be particularly effective channels for showcasing your services.

Managing Client Expectations

One common pitfall in the event planning business is the mismanagement of client expectations. The key lies in clear communication from the outset about what is feasible within given budgets and time frames. Educating clients about potential challenges while offering creative solutions builds trust and safeguards against future disappointments. It also helps in managing stress levels when unforeseen issues arise during events. Ultimately, satisfied clients become recurrent clients and are likely to refer new business your way.

Navigating Seasonal Fluctuations

The event planning industry is notably seasonal, with certain times of the year being busier than others. Understanding how to navigate these fluctuations is essential for maintaining steady business growth. During off-peak seasons, focusing on building relationships, updating portfolios, and enhancing skills can prove beneficial. It's also an opportune time to reach out to potential clients with special offers. Diversification into corporate events or workshops can also help mitigate income variability throughout the year.

Boost campaigns with 250+ editable templates. Save, reuse, and wield design tools for business growth.

Leveraging Technology for Efficiency

In today's digital age, leveraging technology can significantly enhance operational efficiency in party and event planning. From project management tools to digital marketing platforms, technology offers myriad ways to streamline processes. Investing in software that assists with budget tracking, client communications, and vendor management can save considerable time and reduce errors. Moreover, social media platforms provide cost-effective means to promote services and engage with both current and prospective clients directly. Embracing technology not only simplifies logistics but also elevates the professional image of your business.

Cultivating Resilience amidst Challenges

The journey of starting an event planning business is fraught with challenges that test resilience at every turn. Whether it's dealing with last-minute changes or navigating client dynamics, the ability to stay composed under pressure is paramount. Cultivating a mindset geared towards solution-finding rather than dwelling on problems distinguishes successful planners from those who falter. Additionally, embracing failures as opportunities for learning ensures continuous improvement and adaptability in this dynamic field. Fostering resilience not only aids personal growth but also enhances business reputation.

Utilizing Desygner for Creative Solutions

In the highly visual world of event planning, presenting ideas creatively is essential for winning over clients and executing memorable events. This is where tools like Desygner come into play, offering user-friendly design solutions without requiring extensive graphic design skills. With its plethora of templates ranging from invitations to promotional materials, Desygner facilitates professional-quality designs with ease. It's an invaluable resource for planners looking to elevate their visual presentation game affordably. Utilizing such tools effectively can significantly impact client perceptions and business outcomes positively.

## The Importance of a Proper Beginning in Party and Event PlanningIn the realm of party and event planning, the initial steps one takes can often set the tone for the entire venture. The significance of "how to start" cannot be overstated, as it lays down the foundation upon which the business will grow, thrive, or falter. A well-conceived beginning is akin to setting the stage for a grand performance, where every detail adds to the spectacle, ensuring that the audience's experience is nothing short of magical.### Crafting a VisionThe journey begins with a vision. This vision is not merely about having an idea but sculpting that idea with precision, passion, and purpose. In the bustling world of event planning, standing out requires more than just uniqueness; it demands excellence. A meticulously crafted vision serves as a compass, guiding every decision, from branding to client interactions. It becomes a beacon that attracts clients who share similar values and aspirations, creating a harmonious relationship from the outset.### Building RelationshipsStarting on the right foot in this industry also means laying the groundwork for robust relationships. These are not only with clients but also with vendors, venues, and collaborators. A positive initial interaction sets a precedent for trust and reliability, two cornerstones of any successful service-oriented business. When parties involved know what to expect from each other and feel valued in their contributions, it fosters an environment ripe for creativity and cooperation.### Setting StandardsMoreover, how one starts often dictates the standards by which the business operates. High standards in organization, communication, and execution become the norm rather than the aspiration. This commitment to quality from day one ensures that each event is not just an occasion but an unforgettable experience. It's about creating moments that resonate emotionally with clients and their guests, transforming fleeting occasions into lasting memories.### Cultivating GrowthA well-planned startup phase can dramatically influence the trajectory of growth. By focusing on solid foundations--like defining target markets accurately, investing in marketing wisely, and establishing operational procedures--a new business can avoid common pitfalls that many encounter. This strategic approach allows for sustainable expansion, leveraging early successes into long-term achievements.### ConclusionIn conclusion, starting correctly in the party and event planning business is not just beneficial; it's imperative. The initial steps lay down a path filled with opportunities for creating exceptional experiences, fostering meaningful relationships, cultivating high standards, and driving sustainable growth. In essence, how one starts determines not just where they go but how gracefully they arrive there--making every moment along the way truly extraordinary.

Concluding Thoughts on Launching Your Party and Event Planning Business

In wrapping up our guide on embarking upon a successful party and event planning venture, it's crucial to emphasize the importance of passion, dedication, and strategic planning in turning your dream into a reality. Starting your own business in this vibrant industry offers an exciting opportunity to bring joy and memorable experiences to people's lives while showcasing your creativity and organizational skills.

Remember, the journey to building a successful event planning business is a marathon, not a sprint. It requires patience, resilience, and continuous learning. You'll encounter challenges along the way, but with the right mindset and approach, these hurdles can be transformed into stepping stones towards achieving your business goals.

• Develop a comprehensive business plan.
• Identify your target market and niche.
• Invest in marketing and promotional strategies.
• Cultivate strong relationships with vendors and suppliers.
• Focus on delivering exceptional customer service.
• Stay abreast of trends and innovations within the event planning industry.
• Utilize social media platforms to enhance visibility and engagement.
• Leverage tools like Desygner for professional branding and design needs.

By adhering to these guidelines and embracing the power of tools such as Desygner for your marketing materials, you're setting the foundation for a prosperous event planning business. These efforts will not only contribute to operational efficiency but also aid in cultivating a reputable brand image that resonates with your target audience.

To embark on your journey with confidence, consider signing up at Desygner today. This platform will provide you with the resources needed to elevate your branding and marketing efforts, ensuring that your event planning business stands out in a competitive market.

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

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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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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.

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Related articles.

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.

No paperwork. Instant coverage. No-commitment quote.

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Small Business Trends

How to start an event planning business.

Events hold a special place in people’s lives. They can mark milestones like weddings or birthdays. Some, like corporate gatherings, are specifically designed to strengthen connections. Events capture the emotions of your friends, family, and coworkers. They make for lasting memories.

That’s why it’s smart to start an event planning business. Plus, the median pay was $52,560 in 2022. Read on to find out how to start an event planning business.

The Event Planning Industry

The event planning industry is diverse and growing. It’s always evolving, and the demand is always increasing as technology revolutionizes the whole process. Globalization has opened it up so planners can work on multicultural celebrations and international conferences.

Today, it involves everything from exhibition and tradeshow planning to virtual event celebrations.

Choosing Your Own Event Planning Niche

Various niches are available for those learning to start a party planning business. Try to find one that lines up with your passions and expertise.

• Virtual events include webinars that are excellent fits for tech-savvy people.
• Sustainable-focused events look at Eco-friendly practices.
• Destination events planners look at picturesque and unique locales. This is a good fit if you love to travel.
• Corporate events need planners to organize business-related gatherings like teambuilding events and product launches.
• Of course, one of the big categories is weddings.

A Closer Look at the Wedding Planning Niche

A wedding planner needs to have several balls in the air.

• They must be creative to satisfy a client’s entertainment and decor needs.
• Good wedding planners know the latest traditions, legal requirements, and trends.
• They are also experts in logistics, including managing seating arrangements, transportation, and guest accommodations.

Steps to Launching Your Own Event Planning Business

Read about the steps for how to start a business in the event planning niche.

Market Analysis for a Successful Event Planning Business

A market analysis is critical and needs to include the following.

Client Profiles

Putting together a list of your target market’s budgets, preferences, and needs defines them.

A Demographic Profile

Understanding local demographics and your target market helps to influence the venues you pick. Cultural norms need to come into play.

Competition Profiles

Look at what other event planners are doing and their pricing strategies.

Crafting an Event Planning Business Plan

A good business plan serves as a roadmap. Event planners can use one to identify and streamline bottlenecks in their operations.

The financial projections are invaluable because they overview profitability, expenses, and revenue.

Remember a SWOT analysis ( Strengths, Weaknesses, Threats, Opportunities).

Licensing and Certifications for an Event Planning Company

Depending on where you start your business, you might need the following:

• An alcohol license if you plan on serving alcohol at the events.
• A general business license is required to operate most enterprises.
• Event planners that charge for their services need a sales tax permit.
• You may also want to register your business name with your state. Check out our list of event-planning business names for inspiration.
• Catering often requires a food-service permit.

There may also be other requirements, depending on where you work. Connect with local business groups or consider taking event planning courses to learn more about the requirements.

Setting Up Your Event Planning Business Workspace

Setting up a home or office space requires some planning, too.

Location Matters

If you work from home or lease a commercial space, you need to consider room for a meeting space and your budget. Any office setup needs to comply with zoning regulations and permits.

Technology like event planning software and project management tools are important. Keeping track of your finances is easier with software like QuickBooks.

Customer Relationship Management Tools

CRM tools like HubSpot or Salesforce can make a big difference

Building a Portfolio for Your Event Planning Service

A complete portfolio showcases your past successes and highlights your consistency. It provides an excellent networking and marketing tool. Select your best work and highlight big achievements.

Leveraging Social Media Accounts for Your Event Planning Business

Social media is important. This platform can showcase past events with high-quality images and foster partnerships and networking.

• LinkedIn is good for B2B networking.
• Facebook is excellent for posting event details.
• Instagram showcases videos and photos.

Pricing Your Event Planning Services

Calculating your business expenses is important here. That includes labor and marketing costs. Corporate conferences and weddings have different requirements, so your pricing strategy can change for them.

Don’t forget to charge for services above the basics.

Marketing Your Party Planning Business

A professional website needs your portfolio, a list of your services, and client testimonials. Don’t forget to consider video marketing services focusing on event planning.

Network at industry conferences and tradeshows.

Building a Network and Partnerships in Event Planning

Printed business cards and brochures can be distributed at community centers and local businesses . Press releases help you to gain exposure.

Hosting educational workshops is great for networking and building partnerships.

Embracing Technology in Event Planning

Technology comes in handy in many ways during event planning. Here are a few types of tools to consider:

• Event Management Software includes tools to create schedules, budget, and handle event registration. CRMs like Salesforce help promotions.
• Collaboration software like Hubspot and Zoom keeps everyone on the same page.
• Marketing tools like Mailchimp handle email campaigns.
• Live Streaming Platforms like Webex and Zoom host events.
• Feedback helps your event planning business improve. Think Google Forms and Google Analytics.
• Apps related to your niche — for example, you may use a wedding planning app like The Knot to connect and share information with clients.

How Much Does It Cost to Start an Event Planning Business?

There are several costs.

Legal and Licensing Fees

Business registration or incorporation fees might be included. There also might be legal fees for consulting with an attorney to set up contracts and your business structure.

There are also costs for software tools for things like accounting and project management. You might need to incorporate leasing or renting costs for a physical building.

Branding and Marketing

Don’t forget branding materials like brochures and flyers. A proper logo design can be used in both print and online marketing. Put together an online advertising package that includes social media advertising and something like Google Ads.

A good website needs domain registration and includes web hosting fees.

There are a variety of other costs to look at, like utilities, insurance, and employee expenses.

Navigating Challenges in Planning Events

There are some challenges for planners like the following:

• Event planners have clients who can ask for last-minute changes or additions.
• They also need to handle unforeseen circumstances in outdoor events like the weather.
• Event planners need to find quick solutions to vendor issues.

FAQs: How to Start an Event Planning Business

Are event planning businesses profitable.

Profits in the events industry depend on different factors, like a steady stream of diverse and loyal clients. Specializing in a certain niche, like weddings, will make you more money.

What Qualities are Needed to be an Event Planner?

Planners need to be meticulous and pay attention to detail. They also need to be able to work outside regular business hours and be culturally sensitive. There are tons of other event planning tips that can help this type of business thrive.

What are the peak seasons for an event planner?

Spring and summer are popular for weddings. Winter is a high-demand time for corporate year-end events.

How to start a party planning business with no money?

There is no overhead if you work from home and offer your services for free to build a portfolio. Connect with local businesses to see if they need help with special events. For example, you may learn how to plan a bar crawl and offer services to a few local pubs. By providing a positive experience, those businesses may hire you for paid gigs the next time they want to host something similar.

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How To Start A Party Planning Business From Home

Who doesn’t love a good party? If you are organized, love socializing and have great attention to detail, read on to learn how to start a party planning business from the comfort of home. 

An event planning service is a rewarding way to make money from home and you don’t need to have a degree if you have experience and marketable skills. 

This post contains affiliate links. Please read my  Disclosure for more information. 

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Why Start A Party Planning Business?

Many people are unsure of their ability to plan parties, so they look for expert assistance. A party planner helps to create memories by offering the perfect party experience. 

People hire event planners because:

• They don’t have time
• It’s overwhelming
• Party planning stresses them out
• They want to impress their guests with a really special party

If you’re organized and like the idea of creating memorable events, becoming a part-time party planner might be a great option.

Like most small businesses, a party planning service is scalable to provide a full-time income after you get some experience.

What Skills Do Event Planners Need?

Be organized.

Organizational skills are pivotal. The devil is in the details. There are so many pieces that must come together to have a successful party.

Be Adaptable

Expect the Unexpected. Since there are so many moving parts, you must have the ability to deal with the inevitable hiccups. It’s almost guaranteed that something unexpected will happen. The ability to adapt and overcome is critical.

Good Under Stress

You are the glue who holds the event together. You need to be able to handle anything that is thrown at you, from wardrobe mishaps to the caterer not showing up.  Being unruffled despite the chaos around you is key. 

If you don’t really like people, starting a party planning business is probably not for you. (instead, check out these  15 Work From Home Jobs For Introverts ). 

You will meet all sorts of people and need to be able to engage and wow them with your social skills. From meeting potential clients to dealing with difficult guests, intra-personal excellence is a must. 

Getting Experience as an Event Planner

If you’ve never planned a significant party or event,  you need some experience. Consider volunteering if necessary.

You’ll learn:

How to create a party budget Which local vendors are good for flowers, food, decorations, and music Where to find the best deals on invitations and other printed supplies Managing the logistics of sending invitations and receiving R.S.V.Ps Event decorating Planning and dealing with catering Creating fun activities Billing

The Kinds of Parties You Can Plan

If you’re in a large metropolitan area, you can specialize in particular types of events. The less populated the area, the more you’ll have to branch into many types of parties to find enough work.

Consider your interests and the likelihood of finding a sufficient number of clients.

Types of parties to offer

Birthdays: Adult or children Anniversaries Bar/bat Mitzvahs Family reunions Cocktail Dinner Retirement Graduations Holiday Engagement parties or wedding showers

How To Start A Party Planning Business

Plan out how you envision your party planning business and get organized before you launch. 

1.Make a list of suppliers and vendors.

Include at least two vendors for each thing you might need. It will depend on the types of parties you’re planning, but your list might include things like live music, florists, clowns, magicians, venues, and caterers.

2. Create or purchase the necessary forms

You’re likely to need budget forms, contracts, and invoices to get started. A checklist for all the supplies and services you’ll need for a particular party will be helpful, too.

You can find many templates online for a small price or for free. 

3. Create your marketing materials

As with most businesses, marketing is critical. It’s quite inexpensive to create or purchase the brochures, fliers, and business cards you’ll need. See what your competitors are doing and try to make yours stand out from the crowd.

Vistaprint is a really low-cost way to get all you need to start your business. You can upload a logo or image and have it on all kinds of materials such as flyers, business cards, banners and more. 

4. Determine your rates

It’s easy to choose your rates. Call around and ask for some quotes for various types of parties to price your services appropriately.

5. Create a Web Presence

There is no less expensive way to reach so many people. Also, many prospective clients will automatically google your business name for reviews and to see pictures of events you have already run. 

The easiest way to start your own website is using WordPress.org.  this tutorial will help you get started. (it is for bloggers but the premise is exactly the same and I used it for my own wedding planning site).

Write articles related to parties and party planning. Ask if you can make a guest post on the websites of your vendors and other party planning contacts.

Be sure to include a link back to your website. Invite your vendors to write a guest post about their specialty on your website.

6. Make use of social media

 Get a Facebook and Twitter account and keep them updated about events and specials. Post pictures of your events on Instagram and build a following. 

7. Post local ads.

There are several places to post classified ads online for free. One of the most popular is craigslist.org. Create a regular schedule to renew your ads.

Also register your business with Google so it comes up on Google Maps. 

8. Tell everyone you know

Word of mouth is one of the best ways to get business when you are first starting off. Offer to work at friend’s events for free in exchange for reviews and photos you can use on your site. 

If you want to start a party planning business without taking a professional course, there are a lot of great books that are worth checking out. Here are a few of my favorites:

Best Books About Event Planning Businesses

The art of event planning.

“The Art of Event Planning: Pro Tips from an Industry Insider is a valuable and insightful guide for event planners. Gianna Gaudini, Executive Event Producer at Google, reveals her secrets for success”

Start Your Own Event Planning Business

Event Planning: Management & Marketing For Successful Events: Become an event planning pro & create a successful event series

In this book you will learn how to put on a successful event series that can generate revenue, and become either your main business, or generate leads and exposure to your main business.

More Ways To Make Money From Home 

Craft Hobbies That Make Money

Home Based Job Opportunities in Canada 

How To Start Your Own Etsy Printables Business

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How To Start A Party Planning Business

by Colin Shipp  

Updated On:  September 27, 2022

Take your passion for planning amazing parties and turn it into a profitable business venture! With a little hard work and creative marketing, you can become the go-to party planner in your area.

An event planning business can be a fun and rewarding way to make a living, and it has the potential to be quite profitable.

The event planning industry is booming, as people now prefer to hire professional planners to take care of their special occasions. It takes a lot of creativity and hard work to be a successful party planner, but it can be an incredibly rewarding career.

Many have dreams of starting their own party planning business but don't know where to start. If you're one of those people, this guide is for you! 

This guide will teach you everything you need to know about starting an event planning business, from writing a business plan to marketing your services.

Everyone loves a good party, whether it's holiday parties, birthday parties, engagement parties, children's parties, or any other type of party.

As an event planner, you can turn your love of planning parties into a successful business. Just follow these simple steps, and you'll be on your way to becoming a successful party planner.

Looking For More Business Options? Check out these business ideas .

Evaluate Your Event Planning Skillset

The first step to starting an event planning business is to evaluate your event planning skillset. Do you have what it takes to be a successful party planner?

To be an experienced party planner, you must be organized, creative, and detail-oriented. You should also be good at working with people, as you'll be dealing with clients regularly.

If you don't think you have the necessary skills to be a successful party planner, consider taking some event planning courses or getting a degree in event management. For newbies, we recommend working under someone else until you learn the process or take an online program.

Hundreds of online courses are available, but this is a great way to learn the basics and start quickly. To be a successful party planner, you must have strong organizational skills and work well under pressure.

You should also be creative, as you'll need to develop new and innovative party ideas regularly. Being detail-oriented is also important, as even the smallest details can make or break a party.

Finally, you should be good with people, as you'll deal with clients regularly. If you don't think you have the necessary skills to be a successful party planner, consider taking some event planning courses or getting a degree in event management.

Create Your Event Planning Business Plan

The next step is to create your event planning business plan for your event planning company. This will be a detailed document that outlines your business goals, strategies, and tactics. Your business plan should also include a marketing plan, as well as a financial forecast.

Whenever you do anything related to your business, refer to your business plan to ensure that you are on track.

A well-written business plan is essential for any successful business, and a planning business is no exception. Your business plan should outline your business goals, strategies, and tactics. It should also include a marketing plan and a financial forecast.

To own an event planning business is to have the ability to work for yourself and be your boss. The business plan document should reflect these qualities.

The business plan should also answer the following questions:

• What are Party Planning businesses in my area?
• Who is my target market?
• How much money do I need to start my business?
• How will my business be structured? (Sole proprietorship, LLC, etc.)
• What are the estimated startup costs?
• What are the ongoing expenses?
• How will I generate revenue?
• What are the long-term goals for my business?

Every event planner is different, so there is no one-size-fits-all answer to these questions. However, your explanations should be detailed and specific to your business.

To become successful in the party planning industry, you'll need to answer these questions confidently and with a well-thought-out plan.

Find Your Event Planning Niche

The next step to starting an event planning service is to find your event planning niche. When it comes to event planning, there are endless possibilities.

You can specialize in corporate events, weddings, birthday parties, or any other event. Figure out what kind of events you're most interested in and focus your business around that.

When you narrow down your focus, you'll be able to market your business better and attract your ideal clients. Market research is the foremost important thing you should do in this stage. Knowing your target market is the key to a successful festive planning business.

There are four primary types of event planning businesses:

Wedding Planning Businesses Specializing In Weddings

Wedding party planners are responsible for helping couples plan their big day. They guide everything from finding the perfect venue to choosing the right florist.

Wedding planners typically work with a team of other vendors to ensure that every wedding detail is taken care of.

A proper wedding planner should have a strong understanding of the wedding industry and know how to negotiate with vendors.

Corporate Event Planning Businesses

Corporate event planners are responsible for organizing corporate events such as conventions, conferences, and company parties.

They work closely with a company's marketing or human resources department to plan an event that meets the company's objectives.

Corporate event planners must be able to handle a large budget and coordinate with multiple vendors.

Social Event Planning Businesses

Social event planners are responsible for organizing parties, showers, and other social gatherings.

They work with their clients to choose the perfect venue, catering, and entertainment for their event. 

Social event planners typically have a background in event planning or hospitality.

Non-Profit Event Planning Businesses

Non-profit event planners are responsible for organizing fundraising events, galas, and other special events.

They work with various vendors to get the best deals, from venues to catering. Non-profit event planners must have a strong understanding of the non-profit sector and be able to work with a tight budget.

Uncover Your Startup Costs

Now that you know what type of event planning business you want to start, it's time to uncover your startup costs.

The amount of money you'll need to start your business will vary depending on the size and scope of your business.

If you're planning on starting a small event planning business, you can get by with a few thousand dollars. However, if you're planning on starting a large event planning business, you'll need at least $10,000.

Event planning services can be expensive, so it's important to understand your startup costs before starting your business.

According to the business tycoons of event planning, some of the major startup costs include:

• Business entity fees
• Licenses and permits
• Website design and development
• Event planning software
• Marketing materials
• Office Supplies
• Computers and phone systems

It depends on the type of business you want and how much you'll need to spend on marketing. Planning events is a fun and rewarding business, but it takes more than just organizing skills to get started.

If you're planning on starting a corporate event planning business, you'll need to spend money on business cards, a website, and advertising. However, starting a small event planning business can get by with just a few hundred dollars for business cards and flyers.

Choose A Name Of Your Business

After you have figured out your startup costs and what type of event planning business you want to start, it's time to choose a business name.

The name of your own business is important because it will be the first thing potential clients see. Choose a name that is memorable and easy to pronounce.

Avoid using long names or names that are difficult to spell. You want potential clients to be able to find you easily online and on the yellow pages. Almost as important as the name of your business is the tagline.

The tagline should be short, sweet, and to the point. It should describe what your company does in a few words.

For example, "The best corporate event planner in town." The ultimate goal is to make it easy for potential clients to remember your name and what you do.

Register Your Business To Make It Official

The next step is to register your business with the state.

This will make your business official and allow you to open a business bank account. You will also need to choose a business structure, such as an LLC or sole proprietorship.

Once you have registered your business, you will need to get a business license from the city or county where you plan on doing business.

Nowadays, you can usually apply for a business license online. To avoid scam artists, make sure you are applying for a business license from the official website of your city or county.

You can visit your area's nearest Chamber of Commerce to register your business. Apply for your EIN (Employer Identification Number) online with the IRS. You will need this number to open a business bank account and file your taxes.

Get Insured For Your Protection

One of the most important things you need to do when starting a party planning business is to get insured.

This will protect you and your business in case something goes wrong during an event. Insurance will also give your clients peace of mind knowing that their event is in good hands. You will need general liability insurance and possible errors and omissions insurance.

Public liability insurance will protect you if a guest is injured at an event or damaged property. Insurance will cover errors and omissions if you make a mistake that leads to a financial loss for the client.

You can get insurance through an insurance broker or an insurance company. For small businesses, the best place to get insurance is through the Small Business Administration (SBA).

Open A Business Bank Account For Your Event Planning Company

A separate business bank account is a must for any event planning business. This will help you keep track of your expenses and income. It will also make it easier to file your taxes at the end of the year. You can open a business bank account at most banks and credit unions.

When shopping around for a bank, compare fees, such as monthly maintenance fees, minimum balance fees, and ATM fees. You will also want to find a bank that offers free online banking and bill pay.

Keeping good records and receipts of expenses is important if you use your account for business purposes. This will make it easier to file your taxes at the end of the year. But, it is still a good idea to open a separate business bank account.

Hire Your Employees To Help Run Your Business

You will need a great team of employees to help you plan and execute successful parties. Hiring the right employees can make or break your business, so taking your time when hiring is important.

Make sure you hire people passionate about event planning and have the necessary skills to help your business run smoothly.

Start by creating a job posting that outlines the position you're looking to fill. Then, post the job on online job boards and reach out to your network of contacts. Once you've received some applications, start scheduling interviews.

During the interview, ask each candidate about their experience in event planning and ability to work under pressure.

After interviewing all the candidates, it's time to make your decision and extend an offer to your top choice.

Open Your Office Space

Opening your doors for business is a big milestone for any company. If you're planning on running your party planning business out of your home, you may not need to worry about this step.

However, if you're planning on opening an office space, there are a few things you need to do first.

First, many event planners must find the perfect location for your office. The location of your office will play a big role in the success of your business, so be sure to choose wisely. Once you've found the perfect place, it's time to start setting up your office space.

You'll need to purchase your office's furniture, equipment, and supplies. You can find used office furniture and supplies online or at local thrift stores if you're on a tight budget. Once your office space is set up, it's time to start seeing clients.

Plan Your Marketing Strategy

Now that you have your party planning business up and running, it's time to start marketing your services.

There are many ways to market your business, such as online, print, or word-of-mouth. Marketing is the most crucial asset for any business, so make sure you allocate a good portion of your budget to marketing.

One of the best ways to market your party planning business is through social media accounts. Social media is a great way to reach potential clients and build relationships. Make sure you create a strong social media presence for your business.

Use platforms like Facebook, Twitter, and Instagram to post photos and updates about your business.

You can also use social media to run promotions and give away discounts. Another great way to market your party planning business is through online directories, such as Yelp and Google My Business.

These directories will help potential clients find your business when they search for event planners in their area.

If you have little or no money to spend on marketing, start by reaching out to your network of family and friends. Ask them to spread the word about your business and give you referrals.

Create Your Pricing Strategy

After marketing, the fee structure is the most important aspect of your party planning business. It would help if you found a pricing strategy that works for you and your business.

There are many ways to price your services, so research before settling on a price. You can also offer discounts for large parties or repeat customers.

A business owner's guide to pricing can help you determine the best pricing strategy for your business. If you're unsure how to price your services, start by reaching out to other party planners in your area.

Ask them how they price their services and get an idea of the going rate.

You can make a pricing strategy that includes:

Hourly Pricing

You can charge your party planning services by the hour. This is a popular pricing strategy for event planners.

Event Pricing

You can charge a flat fee for each event you plan. This is a popular pricing strategy for wedding planners.

Guest Pricing

You can charge by the number of guests at an event. This is a popular pricing strategy for large parties.

You can offer discounts for large parties or repeat customers. Potential clients are always looking for a bargain, so discounts can be a great way to attract new business.

Why Should You Start Your Own Event Planning Business

Are you an experienced event planner looking to start your own business? Or perhaps you're new to the party planning industry and are looking for a way to get started.

Either way, there are many reasons why starting your own event planning business can be a great idea. For one, the profit margins in the event planning industry can be very high. You can easily make a healthy profit with the right mix of events and clients.

Additionally, if you have experience in event planning, you'll have a leg up on the competition. You'll already know the ins and outs of planning successful events and have a head start in landing your first clients.

So if you're thinking about starting an event planning business, there are plenty of good reasons. There's profit potential, service demand, and room for growth. So what are you waiting for? Start making your plans today!

As a business owner, you'll be responsible for all aspects of your company, from marketing and sales to event logistics and coordination.

If you're detail-oriented, enjoy working with people, and have a knack for organizing, a party planning business could be the perfect fit.

You can turn your passion for party planning into a successful business with a little hard work and dedication.

Follow the steps outlined in this article, and you'll be on your way to becoming a party planning pro in no time!

About the Author

Colin Shipp  

Colin Shipp is a marketer who has been working remotely full-time since 2015. He specializes in growth marketing, content marketing, online courses, and remote work. On ColinShipp.com he writes about strategies he is using in his own life.

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18 Party Business Ideas

Back to Business Ideas Categories

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on July 21, 2022 Updated on February 12, 2024

If you like to socialize and have great organizing skills, then starting a party-related business might be the perfect career choice. Great attention to detail will also help. But what sort of business will you start?

You could organize paint, princess or Botox parties , or get into party planning, decorations or catering. There are a lot of possibilities, which is why we’ve put together this list of brilliant party business ideas for you to explore.

1. Party Planning

Ready for good times? As the pandemic recedes, parties are back, big time. The US party and event planning industry is worth more than $3 billion and growing as more and more people plan the big blow-outs they’d delayed for so long. Graduation parties, weddings, bachelor and bachelorette parties, birthday bashes and much more. If you’re well organized and know how to have a good time, you could start your own party planning business and ride this wave to a major payday. 

With minimal investment, you can run your business from home to keep costs low, and charge 15-20 percent of the total budget for the event. The biggest hurdle will be getting those first few clients, and for that you’ll probably want to set up an appealing website and launch a strong marketing and promotional campaign. Once you’re able to provide those early customers with excellent service and unforgettable gatherings, you might want to start partying yourself, to celebrate your future success.

2. Party Rental

Let’s get this party started! As the pandemic recedes, lockdowns and restrictions are being lifted and people are finally getting out and about again, which is good news for parties, gatherings and other events. US party rentals is a $5 billion industry that’s expected to see sharp growth in the coming years.

You could start a party rental business, grab a share of that vast market and help people have fun by providing tents, bars, bouncy houses, karaoke machines and more to people looking to have a good time. You could also offer more standard party supplies such as tables, chairs, tents, food and beverage carts. Whichever route you choose, buying the equipment will require a significant investment, but that’s the only major hurdle standing in your way. After that, you’ll just need to register as a business, set up an appealing website and let the good times roll!

3. Pearl Party

Never heard of a pearl party? You’re not alone, but that’s changing fast. Pearl parties are lively gatherings at which women — and it’s usually only women — come together to enjoy and learn about brilliant gems. These parties used to take place in-person, at the home of the host, but since the start of the pandemic they’ve moved online and become incredibly popular.  

A pearl party is a great way to make money while having fun. As the host, you’ll welcome all your virtual guests and then start opening the oysters, one at a time, to reveal the brilliant pearl inside. Each attendee owns one or more of the oysters and gets to keep whatever is found inside. The value of the pearls ranges from $20-$40, and a pearl party host can make up to $2,000 per party, or more.  

A typical pearl party will also include a business presentation , jewelry demonstrations, and consultations in which attendees discuss their jewelry interests. The pearl party host ensures all attendees have ample opportunity to purchase as many pearls as they like. For the host, the key is finding pearl suppliers who offer quality pearls at good rates. If you’re thinking of starting your own pearl party business, now’s a great time to get in on the action.

4. Party Room

With the pandemic winding down, social gatherings are popping up. And what better way to get the party started than to start renting out a party room? Parties of all sizes are part of the broader global events industry, which is projected to surpass $2 trillion by 2028. Getting a slice of this huge events industry pie is a tremendous business opportunity. 

You can start your party room business by converting an idle space in your home into a suitable venue for gatherings. Fill this up with some suitable furniture, invest in decorations depending on the party theme, and you’re good to go. Gardens and any outdoor space also provide perfect venues, especially in a world where the outdoors is safer than indoors. With careful planning and creative execution, you can create a party venue that both adults and children will enjoy.

5. Party Bus

Ready to party? As the pandemic recedes, everybody’s looking to get out and have fun. For many, that means renting out a party bus and dancing and drinking the night away while cruising down the streets. Party buses are part of the $8 billion US limousine industry, and expected to see strong growth as more and more people schedule long-delayed bachelor and birthday parties, graduation events and just fun nights out on the town. 

Starting a party bus business will require considerable investment. The major cost will be, of course, the bus itself. Hopefully you’ll be able to find a reliable one at a reasonable price and then deck it out with all the trimmings, from a bar and disco ball to a DJ booth and more. Once you’ve done some marketing and gotten the word out, you’ll be able to charge as much as $700 per night, so it shouldn’t take too long before you see a nice return on your investment. 

Just be sure to get all your licenses, permits and insurance — the last thing you want is for the party to get parked on the curb.

6. Paint Party

Are you looking for a fun and creative new venture? If so, a paint party business could be perfect for you. Paint parties, at which attendees paint and socialize, are a blast, and great for all ages. A recent survey found that 47% of Americans are interesting in painting, photography, playing an instrument, and other artistic endeavors.

It’s pretty simple to start a paint party business. You just need to find a suitable location for your studio, buy canvas or acrylic paint at the best price, hire painters for your event if you’re not an artist yourself, promote your party on social media platforms, and then sit back and relax while getting paid!

You can also go virtual and host paint parties through a video conferencing app. Just send painting kits to the participants in advance. With the right knowledge and skills, a paint party business can be successful.

7. Party Decorating

As concerns about coronavirus infection diminish, people are planning birthday celebrations, weddings, festivals, and other gatherings, boosting demand for party supplies. So if you’re looking to start your party decorating business, now is the time to put your plans into action. The global party supplies market is expected to see strong 9% annual growth through 2027, and North America accounts for the biggest market share.

Before you start your party decorating business, it’s a good idea to scope out the competition and see what they’re offering to determine what kind of products and services you’re going to provide. Identifying a niche is also important. After you comply with the regulatory requirements of starting a business, developing your website and social media presence is to your advantage, especially if young adults are among your target markets. With careful planning and creative marketing, your party decorating business can be very successful.

8. DJ Business

What’s a big event without a DJ dropping some bouncy beats? As the events industry bounces back from the coronavirus pandemic, so does the DJ market. Global sales of DJ equipment are expected to grow and reach $732 million by 2026. If you love remixing and creating new tracks, setting up a DJ business could be a great way to make a living.

But a DJ business is not just about having the best beats. There’s a lot of work that goes into it. Having easy access to digital platforms and streaming services will lessen your burden. You’ll also need to have the right skills and equipment. Then you’ll want to establish your brand, promote your services and grow your social media following to attract clients. With excellent service, you can easily gain loyal customers and sustain your business.

9. Princess Party

Most little girls have probably dreamed of becoming a princess. You can help make that fantasy a reality with your own princess party business. A princess party is probably the most popular party theme for girls under 12 — and there are more than 25 million of them in the US. That’s a lot of princess parties!

You’ll want to familiarize yourself with the different fictional princesses to be able to come up with fun ideas for the perfect princess party. The invitations, props, costumes and wigs, decorations and giveaways must correspond with the theme. And don’t forget tiaras! 

But before you launch your business, it is important to make sure that it’s legally compliant. You will also need a business plan, including a creative marketing plan to attract clients. If you do it right, a princess party business can also be profitable.

10. Wedding Planning

Who doesn’t love a big wonderful wedding? Of course, everything has to be absolutely perfect, which is why so many Americans choose to hire a wedding planner. Wedding planning is a nearly $900 million industry in the US, and poised to do well as many couples are finally able to put their long-delayed nuptials on the calendar. If you’re well organized and enjoy making grand plans, you could start your own wedding planning business and create magical memories for countless couples and their loved ones while grabbing a share of this major market. 

The first decision is to choose what type of wedding planning you’d like to offer: full-service, partial service, or event coordination. Full-service planners take care of absolutely everything, from the flowers to the table placements and even the weather (they wish!). Partial service planners provide assistance with key aspects of the wedding, such as outfits or location, and event coordinators just keep an eye on the details for couples who’ve done most of their own planning. You might want to offer all three services, and optimize your chance of success!

11. Wedding Venue

Maybe you’ve heard — the pandemic is finally over. People are starting to party again, which means we’ll soon be seeing a lot of weddings! Weddings are a growing $60 billion US industry in the US. If you own or have your eye on an appealing venue, you could launch a wedding venue business and make a good living by giving happy couples and their families memories that last a lifetime. 

The biggest expense is of course the venue itself. If you already have a big space in a great location, you’re halfway there — and probably should have launched your wedding venue business years ago! Assuming you still need to find one, your best bet might be to look for aging and abandoned barns and farmhouses in rural areas, which have become an increasingly popular wedding option.

Once you’ve nailed down a great venue, you just need to do some marketing and let that gorgeous setting do the work for you. With any luck, you’ll soon be booked solid through the spring and summer.

12. Wedding Rental

Starting a wedding rental business can be highly profitable and gives you the opportunity to help couples live their dream on a budget. Nearly two million weddings were held in 2021 and the number could increase to almost 2.5 million in 2022. The increase is also reflected in the positive performance of the US wedding services industry, which is predicted to bounce back from the pandemic and grow to nearly $58 billion in 2022. 

Before you get started with your wedding rental business, it’s important to understand the market. You can start small from your home by renting out accessories like bridal earrings, wedding veils, hand gloves, tiara, and more. As your business grows, you can move to selling wedding gowns and suits. If you have the capital, you can rent a space or a garden and develop this into a wedding venue for rent. There are numerous possibilities and it’s up to you to grab the opportunity. Good luck!

13. Shaved Ice Business

What’s more refreshing than shaved ice on a hot summer’s day ? Not much, which is why snow cones and shaved ice have been gaining in popularity in recent years and are now making a major splash. This is a great time to start a shaved ice business and spread the summertime joy. All you need is a mobile pushcart or food truck, a shaved ice machine and some tasty flavored syrups and you’ll be good to go. 

The key step will be finding unique and appealing flavors in an increasingly dynamic and experimental market. These days, restaurants like David Chang’s Majordomo are serving up Japanese-style shaved ice, while street vendors offer flavor combinations like blackberry-lavender and watermelon-basil. 

Whichever options you choose, you should know that the US frozen dessert market is worth $53 billion and expects strong growth through 2028, which means opportunity is there for the taking for the bold entrepreneur.

14. Cake Making

Nearly six out of 10 Americans eat dessert after a meal at least once a week, and cakes are among the favorites. Cake consumption is growing steadily in the US despite the increasing preference for healthy food. Well, those with a sweet tooth always find an excuse to indulge in cakes. If you’re fond of baking and designing cakes, starting a cake business might be the perfect career choice for you. 

This type of business can be run from home so you can minimize your overhead cost. Once you’ve registered your business, you should find a reliable supplier of ingredients and supplies. Besides offering unique birthday cake designs, you might also want to introduce gluten-free and sugar-free cakes to cater to all kinds of customers. Keep yourself updated with the latest market trends and consider coming up with cakes in a box or tin can cakes. A cake business will require a lot of creativity, hard work and an effective marketing plan.

15. Catering

Do you have great culinary skills? Have you always dreamed of making your delicious dishes for hundreds of people? Now is a great time to start a catering business. The industry is seeing strong growth as the pandemic recedes and more and more people plan major events, like weddings and corporate affairs. If you’re looking for an inspiration, here are profitable catering business ideas and opportunities .

The crucial first step will be nailing down an initial menu. Do you favor traditional American dishes? Are you obsessed with Italian? Or maybe Mexican, Thai or Middle Eastern food is more your thing. Once you decide, fill out the menu with appetizer options, second courses, soups and salads, and a selection of entrees and desserts. And don’t forget Americans’ dietary issues — be sure to include low-fat, gluten-free, vegetarian and vegan options. 

Next you’ll want to nail down your product offerings. For example, some caterers today are providing box lunches for in-office events. You should also consider embracing technology, as today’s top event planners often use apps to book the best caterers. Lastly, it’s crucial that you acquire all the necessary licenses and permits, as food businesses are strictly regulated. 

Now you’re ready to get in the kitchen and start making a lot of smiling faces, and a lot of money.

16. Balloon Business

Balloons are always a big hit. They make the perfect gift for children and adults alike, and they make even virtual parties fun and exciting. The global market for party balloons has continued to thrive and is anticipated to grow 5% annually through 2030. If you’re looking for a fun business idea, you might want to consider starting a balloon business. 

The first step is to pick the type of balloons that you want to create, whether latex or foil. Latex balloons are more commonly used and considered the golden standard in parties, while foil balloons offer more diverse options in size, shape and color. They also last longer than latex balloons, although they’re less elastic and more vulnerable to heat damage. Each type of balloon presents advantages and disadvantages, so carefully considering these is important. Actively promoting your business to attract potential customers or prompt past customers to make repeat orders could also spell success for you.

17. Gift Basket

It’s hard to go wrong with a gift basket of wine, fruit, or flowers, whether for family, friends, or colleagues. It’s an excellent choice if you don’t know what the recipient likes or if you’re sending to multiple recipients. 

The versatility of gift baskets has kept demand high over the years, especially from the corporate sector. The US corporate gift market is predicted to cross $300 billion in revenue by 2024. If you’re an artistic entrepreneur, why don’t you grab this opportunity and start a gift basket business? It’s a great way to use your creativity and sell something that people will love.

Before you get started, it’s to your advantage if you choose a niche and craft your marketing strategy. Having a strong online presence is crucial to your success, so it’s a good idea to start developing your website and social media accounts as soon as you decide on your branding strategy. Of course, it’s important to make your business legally compliant so you need to work on your regulatory requirements as well.

18. Gift Wrapping

There’s nothing like the excitement created by a present wrapped in colorful paper and ribbons. If you’re looking for a profitable venture that will make your customers feel good, starting a gift wrapping business is a viable option. The market value of gift wrapping products in the US is expected to double to $7 billion by 2025 as people spend on gifts and gift wrapping not only during the holidays but also for every special occasion throughout the year.

To get started, you have to decide whether to just provide gift wrapping services at home or set up a shop. You will need to unleash your creativity to be able to offer unique gift wrapping ideas. Keep up with the latest trends and techniques to stay relevant and differentiate yourself in the market. It’s also important to stock up on wrapping materials and tools to make sure you can deliver what your customers want. With retailers constantly thinking about ways to make each day special, there will always be someone who will need your gift wrapping skills.

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How Tesla Planted the Seeds for Its Own Potential Downfall

Elon musk’s factory in china saved his company and made him ultrarich. now, it may backfire..

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When Elon Musk set up Tesla’s factory in China, he made a bet that brought him cheap parts and capable workers — a bet that made him ultrarich and saved his company.

Mara Hvistendahl, an investigative reporter for The Times, explains why, now, that lifeline may have given China the tools to beat Tesla at its own game.

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Mara Hvistendahl , an investigative reporter for The New York Times.

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A pivot to China saved Elon Musk. It also bound him to Beijing .

Mr. Musk helped create the Chinese electric vehicle industry. But he is now facing challenges there as well as scrutiny in the West over his reliance on China.

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