event management business requirements

The Essential Steps to Starting an Event Management Business

The U.S. Department of Labor ’s research shows that getting your event management business plan together is a smart move right now. The industry is growing faster than most.

And because no specialized training is required to start one, you can expect to start turning a profit much, much faster.

How do I start my own event planning business?

Like any small business, you have to start out by doing a lot of research and creating a plan for what services you’ll offer and how you’ll market them .

You’ll also have to figure out things like budgeting, whether or not you’ll want to expand your team with event staff or other specialists, and administrative tasks like quoting, billing, etc.

As you can already tell, most of the work is done up front. But you only have to do it once! And even though you’ll most likely tweak your plan as your business continues to grow, the work you put in now will largely serve as a foundation of the company for years to come.

How to start an event planning business

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

Step 1: Determine if it’s a good fit.

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

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

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Step 2: Research certifications.

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

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

Some of the top certifications event managers pursue include:

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

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

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

Step 3: Fill out an event management business plan.

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

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

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

Step 4: Handle all the necessary paperwork.

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

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

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

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

Step 5: Figure out finances.

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

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

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

Step 6: Choose a team.

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

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

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

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What is your vision for an event planning business?

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

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

How to write a personal event planning business plan

1. create an executive summary.

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

2. Make a company summary

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

3. Identify your products and services

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

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4. create a marketing analysis summary.

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

5. Do a strategy and implementation summary

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

6. Write a management summary

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

7. Create your financial plan

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

Now you know how to start an event management business!

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

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

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

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The Ultimate Guide on How to Start Your Event Planning Business

Adam Rosenthal

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

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

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

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

6 steps to starting your business

1. establish your expertise.

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

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

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

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

Certified Meeting Professional (CMP) Certification

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

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

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

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

Certified Special Events Professional (CSEP) Certification

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

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

Certificate in Meeting Management (CMM)

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

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

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

2. Build an effective business plan

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

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

Your plan should include the following:

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

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

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

Customer analysis—our customers will look like this.

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

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

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

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

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

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

3. Secure startup capital

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

There are a few ways you can secure that money:

Self-finance

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

Friends and family

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

6. Establish a marketing campaign and build out your network

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

Marketing your business to clients

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

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

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

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

Marketing your business to potential partners

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

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

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

Important reading before you start your event planning business

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

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

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

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

7 Event Budget Templates to Plan Your Finances

Was this article helpful?

About the author.

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

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

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

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

What is an Event Management Business?

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

The Benefits of Starting an Event Management Business in 2024

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

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

How to Start an Event Management Business in 13 Steps

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

Understand the Event Management Market

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

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

• Rise of Virtual Events

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

• Sustainability Trends

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

Events planning challenges

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

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

Putting insights into action

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

Assess and Improve Your Event Planning Skills

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

Enhancing your event planning skills

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

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

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

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

Market Research and Event Planning Business Market Fit

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

What can you do?

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

Image by vector4stock on Freepik

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

Crafting buyer personas for event planning business

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

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

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

Crafting your Unique Selling Proposition (USP)

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

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

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

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

Analyze competitor strategies

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

Complete SWOT analysis

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

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

• Expertise and Skills

Highlight any specialized event planning skills or certifications you possess.

Emphasize your creative approach to designing and executing events.

• Industry Connections

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

• Technology Adoption

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

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

• Limited Experience

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

• Resource Constraints

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

• Niche Limitations

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

Opportunities

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

• Growing Demand

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

• Collaborations

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

• Technological Advancements

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

• Market Gaps

Identify gaps in the market that your business can fill.

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

• Economic Downturn

Economic challenges may impact clients’ budgets for events.

• Intense Competition

A saturated market with numerous competitors may pose a threat.

• Changing Regulations

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

• Seasonal Fluctuations

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

Starting an Event Management Business & Choosing Your Niche

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

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

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

Business Structures to Consider When Starting an Event Planning Business

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

Sole Proprietorship

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

Limited Liability Company (LLC)

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

Partnership

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

Corporation

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

Creating an Irresistible Event Planning Solution

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

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

Writing an Event Planning Business Plan

Image by storyset on Freepik

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

Vision and goals 

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

Target market

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

Marketing strategy

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

Service packages

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

Competitive analysis

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

Financial planning

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

Risk analysis and mitigation

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

Operational plan

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

Executive summary

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

Initial and Ongoing Expenses for an Event Management Business

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

Initial expenses for starting an event management business

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

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

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

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

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

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

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

Ongoing expenses for event planning business

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

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

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

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

Figure Out the Booking Process for Your Event Planning Business

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

• Efficient Workflow

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

• Customization

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

• Data Security

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

• Time-Saving

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

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

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

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

Set up Prices With a Healthy Profit Margin

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

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

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

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

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

Start Promoting Your Event Management Business

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

First impressions matter

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

Blog content

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

Visual portfolio

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

Choose relevant platforms

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

Visual storytelling

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

Keyword optimization

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

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

Claim your business

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

Client reviews

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

Build a subscriber list

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

Targeted campaigns

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

Start Selling Your Event Planning Services

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

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

Testimonials

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

Case studies

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

Industry expertise showcase

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

Personalized client engagement

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

Develop client relationships

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

Growing and Scaling Your Event Planning Business

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

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

Invest in a Top-Notch Event Management Plugin

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

Why choose Amelia as your event planning plugin?

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

Responsive and customizable

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

Recurring events made easy

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

Seamless booking pages

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

Flexible deposit payments

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

Multilingual support

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

Dynamic ticketing

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

Filter and sort with ease

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

Calendar integration

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

Which key features of Amelia simplify event hosting?

Virtual sessions and online events.

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

SMS and Email Reminders

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

Customer and Employee Panels

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

Insightful Admin Dashboard

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

Fully Customizable Design

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

Custom Fields for Booking Forms

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

Try Amelia Today

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

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How to Start an Event Planning Business

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

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

Is running your own event management business for you?

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

Questions you should ask yourself honestly include:

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

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

Setting up an event management business

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

A typical business launch would include the following:

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

View this post on Instagram A post shared by Catch My Party (@catchmyparty) on Jul 26, 2020 at 4:05pm PDT

Business research

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

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

View this post on Instagram A post shared by BUSINESS STRATEGIST (@branded_entrepreneurs) on May 29, 2020 at 12:52am PDT

Business plan

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

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

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

Business administration

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

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

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

Business setup

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

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

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

Marketing and promotion

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

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

Business delivery

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

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

Good luck with it!

My Search Intent

How To Start An Event Management Business In 6 Simple Steps

• Author : Mansi Gupta
• Updated On : November 7, 2023

Table of Contents

Are you one of those aspiring entrepreneurs with a passion for creating unforgettable experiences? Do you dream of becoming the mastermind behind sensational events, but the challenges of starting an event management business seem daunting?

You’re in the right place! This blog on event management business is your guiding light through the maze of challenges that budding event planners often face. So, if you’re ready to transform your passion into a prosperous business and overcome the hurdles that stand in your way, keep reading.

What is Event Management Business Planning?

Event management is the art of directing memorable experiences. It’s about bringing ideas to life, seamlessly coordinating every detail, and ensuring that the event leaves a lasting impact. It’s a field where creativity, organization, and people skills intersect to craft moments that people cherish.

The event management industry is booming like never before in India. According to the ports Indian event, an activation industry is expected to cross the 10,000 crore mark by financial aid 2023 witnessing a cagr of 16%. 

Whether you’re a recent graduate, a career changer, or a seasoned professional, event management welcomes diverse backgrounds.

Key Points To Remember In Event Management Business:

• Attention to Detail: From selecting the right venue to managing budgets and timelines, careful attention to detail is non-negotiable.
• Creativity: In event management, creativity is your best friend. Think outside the box, and don’t be afraid to innovate.
• People Skills: Building relationships and effective communication are vital. You’ll collaborate with clients, vendors, and attendees.
• Industry Knowledge: Stay updated with trends, technologies, and practices. Continuous learning is a must.

How To Launch An Event Management Business From Home?

Are you the go-to person for planning parties and gatherings? Do you have a knack for setting up memorable experiences? If so, you might have what it takes to start your own event management business. The beauty of this venture is that you can kick it off from the comfort of your home. Here are seven essential steps to turn your passion into a profitable home-based event management business:

1. Gain Appropriate Experience: Before diving in, gather experience by volunteering or working with established event planners. Gain insights into the industry, observe how different events are managed, and understand client expectations. This hands-on experience will be your stepping stone.

For example: You might volunteer at a local charity event to understand how fundraisers are organized, or intern with a wedding planner to see the difficulties of creating magical weddings.

2. Set Your Business Goals: What do you hope to achieve with your event management business? Define your niche – weddings, corporate events, parties, or a blend. Set clear, achievable goals, which market you want to target, and consider what makes your services unique that is finding your Unique Selling Point ( USP).

For example: Your goal might be to specialize in eco-friendly events or become the go-to planner for intimate, backyard weddings.

3. Conduct Market Research: Understand your target market and research local demand, competition, and pricing. Identify gaps that your business can fill. Know your potential clients inside out.

For example: Research might reveal a growing trend in micro-weddings, providing a niche opportunity to focus on intimate ceremonies.

4. Build a Business Plan: A well-structured business plan outlines your vision, target audience, marketing strategies, budget, and financial projections. It’s your roadmap for success.

For example: Your plan might allocate a budget for online advertising, networking events, and tools like event planning software .

5. Website Creation: In today’s digital age, a professional website is your storefront. It showcases your services and contact information. You have to make sure it is user-friendly and visually appealing.

For example: Your website can feature photos and stories of events you’ve managed, client testimonials, and a blog sharing event planning tips.

6. Follow Legal Guidelines:  Register your business, obtain any necessary licenses, and consider liability insurance and compliance with legal regulations ensures your venture operates smoothly.

For example: Registering your business as an LLC (Limited Liability Company) can protect your assets in case of unforeseen issues.

By following these steps, you can transform your passion into a profitable event management business.

What if you are passionate about planning and organizing events but don’t have the capital to kickstart your own event management business? Do not worry! Let’s see how one can start an event management business with no investment.

Start an Event Management Business with Zero Investment

1. Identifying Your Target Market:  Before you begin, it’s crucial to identify your niche. Who are the clients you want to serve? Is it weddings, corporate events, or maybe children’s parties? For instance, let’s say you decide to focus on weddings. Your target market might be couples who want a dream wedding but have a limited budget. By narrowing your focus, you can tailor your services to meet their needs.

2. Pricing Your Services: In the absence of a significant upfront investment, your pricing strategy becomes vital. Consider competitive pricing in your niche. For instance, if you’re targeting budget-conscious couples for weddings, ensure your pricing aligns with their expectations. You can structure your fees based on the scale and complexity of the event, ensuring that you’re both competitive and profitable.

3. Marketing and Resources:  You can take advantage of free or low-cost marketing resources like Instagram and Facebook. Showcase your event planning skills through captivating posts and engage with your audience. Share success stories and connect with potential clients. Network within your local community, attend events and collaborate with vendors. These interactions can bring you valuable clients without spending on advertising.

4. Developing a Business Plan: Even without financial investments, a solid business plan is your roadmap to success. Craft your business vision: Goals, Objectives, and how to attain them. Outline your unique value proposition and competitive advantages, which can set you apart from other event planners. For example, your ability to work within tight budgets can be a key selling point.

5. Get Funding (Without Spending Money):  To grow your event management business, consider creative funding methods. You can seek a partnership with complementary service providers, such as catering or photography. They might be willing to invest in your services to offer package deals. Alternatively, you can offer an event planning service subscription, where clients pay you on a monthly or quarterly basis for access to your expertise and discounts on services.

You need to focus on providing exceptional service, and as you gain experience and testimonials, your business will naturally grow.

Till now, you must be wondering that only an experienced person can start an event management business but let me tell you even if you are a newbie in this field, you can kick off your event management business from scratch.

How To Start An Event Management Business With No Experience

1. Passion and Enthusiasm: You may not have years of professional experience, but if you’re genuinely passionate about event planning, that’s a great starting point. Take weddings, for example. If you’ve always been the go-to person for organizing family weddings, you already have a knack for it.

2. Self-education:  Educate yourself about event management through online courses, books, and industry blogs. Consider courses on platforms like Coursera or edX, where you can learn at your own pace. By demonstrating your commitment to learning, you’ll gain the confidence needed to take on clients.

3. Build a Portfolio:  Although you may not have professional experience, you can build a portfolio by organizing events for friends and family. For instance, suppose you helped organize a memorable birthday party for a friend. Use photos and testimonials from the event to create a simple portfolio showcasing your skills.

4. Networking:  Networking is a powerful tool. Attend local events, join event planning groups on social media, and connect with experienced professionals. You’ll learn from their experiences and potentially find mentors who can guide you.

5. Start Small:  In the beginning, focus on small events. Consider offering your services for free to build your portfolio and gain hands-on experience. A well-executed small event can be just as impressive as a large one when it comes to showcasing your skills.

6. Online Presence:  Create a professional online presence. A well-designed website and active social media profiles can make you look experienced and approachable. Share insights and tips about event planning to showcase your knowledge.

7. Learning from Mistakes: Don’t be afraid to make mistakes. Event planning often involves solving unexpected challenges. The key is to learn from each experience and continually improve.

Every experienced event planner begins with their first event. By displaying your passion, self-education, and small-scale experiences, you can create a path to success.

Final Words

In the high-powered world of event management, your journey to success doesn’t have to wait for the perfect moment, massive investments, or years of experience. You can start right now, right from your own home, without any significant investment, and a wealth of prior experience.

The event management industry is waiting for passionate and innovative individuals like you to make a mark. Start your journey today, and watch your dreams transform into reality.

Have any questions? Do mention them in the comment box below!

👉 You can explore additional Marketing tips here!

How can I succeed in the event management business?

How can we organize a corporate event.

This structured approach can help you create a memorable and effective corporate event. Organizing a successful corporate event involves meticulous planning and attention to detail. Start by defining your event’s objectives, budget, and target audience. Choose a suitable date and venue, considering factors like location, capacity, and accessibility. Develop a comprehensive event plan that outlines the schedule, logistics, and roles of your team members. Coordinate with vendors for services like catering, AV equipment, and decorations. Create a marketing strategy to promote the event and manage registrations. Ensure all legal and permit requirements are met and you are good to go.

How to charge for my event management business services?

Pricing your event management services can be a strategic decision. You can consider these methods:

Pricing your event management services can be a strategic decision. Consider these methods:

1. Flat Fee: Charge a fixed rate for your services. This method is simple and provides clarity to your clients.

2. Percentage of Budget: Calculate your fee as a percentage (usually 10-20%) of the overall event budget. This aligns your earnings with the scale of the event.

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5 Tips to Start an Events Management Business

• By Karl Steinfield
• March 16, 2023
• Business Strategies
• Research the market to understand current services and trends in the events industry.
• Set realistic, measurable, and achievable goals and objectives for your business.
• Invest in a professional corporate image.
• Develop a network of supply partners, including decor designers, caterers, equipment suppliers, and entertainers.
• Create quality marketing strategies such as promotional material, social media platforms, and other online platforms to reach potential customers.

Starting an events management business can be a daunting task. From understanding legal requirements to obtaining the necessary funding, numerous considerations must be considered. Thankfully, with a little organization and knowledge of what is required, starting up an events management business can be achievable for those with the right attitude and ambition. Here are five tips to help you start your events management business.

1. Research the Market

Before you jump right into starting an events management business, it is important to take the time to research the market. This includes looking at who your potential competitors are and what services they offer. It would be best if you also looked at current trends in the events industry, such as popular event themes or venues in demand.  Knowing these things will help you make informed decisions about differentiating your events management business from others.

2. Set Goals and Objectives

Having a clear idea of what you want to achieve with your business is essential for successful event management. Setting goals and objectives that are realistic, measurable, and achievable will help keep you on track. These goals and objectives should include how many events you want to manage in a certain period, what type of events you want to specialize in, or any other targets that will help guide your business.

3. Making Your Staff Presentable

Creating a professional corporate image for your business starts with ensuring your staff is dressed appropriately and presentable. If you’ve partnered with suppliers such as caterers or waiters, utilizing they wear  high-quality uniform rentals  can provide an affordable way to ensure everyone looks their best and projects the right image. This doesn’t have to be a stiff and boring look — you can still create an exciting and modern look with uniforms that represent the brand of your events management business. When customers attend your functions, they will associate the people wearing your uniforms with how professional and polished their experience was.

4. Developing a Network of Supply Partners

Securing reliable and trustworthy  supply partners  is essential for successful event management.  These suppliers should be able to provide you with the goods and services you need at competitive prices and be experienced in the event industry.

Here are some suppliers you will need:

Decor Designers

You need to connect with experienced décor designers to transform the event space into something special. Whether you are looking for an elegant wedding venue or an eye-catching corporate event, décor designers can help you create the perfect atmosphere. They understand the importance of lighting, color and aesthetics that can make or break your event.

You must find reliable caterers who can provide delicious and high-quality food for your events. From intimate dinners or corporate luncheons, you want to ensure your guests have a positive impression of their experience. It is essential to research suppliers thoroughly and reviews them before making any arrangements.

Equipment Suppliers

Finding the right equipment supplier is key to running a successful events business. You will need audio-visual and staging contractors to provide the latest event technology. Also, you will require furniture hire companies such as tables, chairs and linen to ensure guests are comfortable throughout the customer feedback before making any decisions.

Entertainers

To keep your events lively, you must find talented entertainers such as musicians, DJs and comedians. Researching the market thoroughly and considering customer feedback before hiring performers is important. Also, make sure that the performers are experienced in their field and can provide an entertaining experience for your guests.

5. Create Quality Marketing Strategies

A strong  marketing strategy  is key to success in the events management industry. Creating high-quality promotional material such as websites, brochures, flyers, or business cards will help you reach potential customers. Additionally, utilizing social media and other online platforms to promote your business can be incredibly effective.

Overall, starting an events management business is no easy feat but with the right preparation and guidance , you can be sure to achieve success. By following the five tips mentioned above, you can ensure your events management business will be a success. With these essential tips in mind, you can be sure to build a successful events management business. An events management business is a great way to make money and have fun doing it. With the right guidance, planning and strategy, your events management business can be incredibly successful.

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Event Management

How to Start an Event Planning Business from Home

Becki Cross

January 22nd, 2022 at 9:30 AM EST

Many Event Planners start out working from home. This can be a great model for setting up an event planning business as it keeps overheads down in those critical early stages of trading and can maximise productivity. If you are considering whether it could work for you and how to make a success of it, here are some things to think about.

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When I set up my Event Management company over 14 years ago I started working from home. It seemed like a natural choice and it meant that instead of worrying about paying expensive office rent in the early stages I could focus on building my business. It worked for me and I worked from home for over a year before outgrowing my home office and renting an office.

Many other Event Planners, Wedding Planning and Freelance Event Managers report the same and find it a workable solution for them – either for the short or the long term. Others just don’t seem able to imagine the realities of working from a home base and I have been quizzed and insulted in equal measures by people trying to understand the intricacies of working from home!

This post is designed to be the ultimate event planning startup kit, for anyone wanting to start their own event management company . These are the chapters you will explore:

8 Compelling Reasons You Should Start an Event Planning Business from Home

A quick guide to setting up your event planning company: follow these easy steps, start now: get your free event planning business plan template, 9 secrets to nail your business name without delay, the no $%^& guide to startup costs for an event planning business, how to create a cash rich event business in 2020, carve out your niche: proven strategy to increase your business earnings, 6 steps to boost your event business’ sales on a tight budget, 100 effective ways to attract more clients and grow your event planning business (when time and money are in short supply).

• Important Final Advice for All New Event Business Owners

What makes you relevant in 2020? We reviewed 350 event planning job postings to find the skills needed to succeed. Download the free report.

Perhaps you are currently employed but want to test the water by starting to develop your own client base and run your own events for people? You may be part of the rise of 5 to 9 entrepreneurs – those that work evenings and weekend to get their own business off the ground.

Or you may have decided that you want to be your own boss and are simply itching to go it alone?

Are you worried that you will struggle or that it will be too big a leap?

Here are eight things to consider if you are looking to start your own Event Planning Business from home.

An Event Planner can work from almost anywhere if you have a laptop, internet and mobile phone. Most important are your personality and event management skills. Starting out by working from home keeps costs lower as renting office space can be a huge outgoing for a fledgling business and you may not wish to be tied into a long-term rental contract from the outset.

Starting from home gives a new business the best possible start during those important early months.

Au Revoir Work Commute!

Commuting to work every day can be time-consuming and stressful in terms of both time and travel expenses, and is a part of the day that fills many with dread. By working from home you are not only potentially saving on your monthly travel outlay but you are probably removing the big city temptations which are so easy to fritter away money on (coffee, cake, and other high street temptations). Most important though you become more time rich.

If your daily rush hour commute was an hour each way this gives you the chance to extend the productivity of your working day by a whole two hours (if you want to) in the blink of an eye!

Set up a specific workspace which can be your dedicated work area. Ideally have a room that you can close the door on at the end of the day, rather than being reminded about the mounds of paperwork on your desk and hearing the phone ring after hours!

You can design the space based on your work preferences. Perhaps you want to use a room with a view or perhaps staring at a brick wall would be better for your concentration. Think about what furniture you will need to work – desk, chair, phone, answer machine, shelves/filing cabinet, etc.

Just because you are working from home doesn’t mean you should be any less disciplined. As well as working set office hours some people still choose to dress as if they were still going to an office job every day. In a creative industry such as the event industry, I don’t necessarily agree with this – it makes sense for me to dress more casually on non-client facing days at the office – but do whatever works for you.

When working from home the most frequent questions I used to get asked is “how do you concentrate on working from home with the lure of daytime television?” and “do you work in your pajamas?”

I think people that asked these questions completely missed the whole point that you are WORKING from home. If you are working for yourself it means that if you don’t work, you don’t get paid! It is up to you but no one else is going to pay your salary for you. Furthermore, in my experience running your own business keeps you busy, busy, busy. Organizing events is a time-consuming operation and organizing events and running your own business doesn’t give any time for slacking!

I actually found the opposite in terms of discipline – it is actually hard to switch off and working from home can fudge your work-life balance as the lines are blurred between the two. Whether you struggle to focus or struggle to switch off though discipline has to be key!

One of the things we struggled with as our business grew was storage space. We invested in bigger and better printers, event equipment, marketing materials, banners and so forth, but this investment also takes up space. Furthermore, our regular clients increasingly wanted us to hold some of their materials and branded items between events which put a further strain on storage space.

When event boxes of literature started taking over the lounge every time we had delegate folders to collate ahead of an event we realized it was time to move to a more purpose-built office solution. Perhaps this is less of a problem today when less information is printed and more is presented digitally for events, but nevertheless, it can add up.

Client Meetings

I find that many of our clients prefer us to travel to their offices to meet but if you ever need a space to meet and your home office isn’t large enough/suitable enough there are plenty of coffee shops, hotels and meeting places which offer a convenient place to meet face to face – so this need never be a concern.

Flexibility

One of the biggest perks of working from home is the productivity element. As event deadlines get close hours are often long for an event planner and it is great to feel safe in your own home and able to carry on working for as long as you need to. Likewise, if you have international conference calls across time zones it is convenient to be able to do this from the luxury of your home office.

 Home Working Perks

Don’t forget to update and take out the relevant insurance policies as you should with any business working from a home or office base.

There are however many other perks to working at home too – for example paying no or reduced business rates, tax relief and off-setting a percentage of your household running expenditure through the business. These elements will, of course, vary from country to country so do look into the realities of this before you take the plunge.

There are a million and one things to think about if you are considering starting your own event planning business. Whether it is a distant dream or almost a reality, here are 22 steps you need to take to set up a successful event management company.

Starting up an event planning business is not a decision to take lightly. It is a major decision which impacts not only on your life but also on your family and others around you. At the same time, if you are passionate and determined that this is the right direction to take you shouldn’t take no for an answer – go for it!

Although 80% of businesses survive the first year, almost half no longer exist after five years and only one-third make it past their tenth anniversary (source: Bureau of Labor Statistics ). Interestingly, major economic downturns don’t seem to impact the survival rates for new businesses and these stats have remained remarkably consistent over the last two decades.

As one of the one-third of businesses that have survived past the ten-year mark (my event management company was established in 2004), we wanted to create the ultimate useful reference guide to help others take those important first steps to being their own boss.

Starting a new business is definitely not the easy option or a ‘get rich quick’ scheme. It is a high risk, but potentially high reward strategy over the long term.

Here are the details and the process you will need to follow before officially launching your event planning company. There are lots of things to think seriously about and we have flagged essential action to take for each step. Read, digest and bookmark this article for a blueprint of how to prepare to launch your business and ensure the best chance of survival.

Gain Varied Event Planning Experience

The more event planning experience you have the better the service you are going to be able to offer your clients. This isn’t just limited to event planning skills either, any business skills and experience will make you a more rounded business owner. Jump at any opportunity to get paid or unpaid work experience. Use this to learn the things that work and the things you would do differently.

If necessary teach yourself how to use tools that will benefit you as a small business. Today, many of these programs are available online and there is a wealth of video tutorials and written content to help you learn how to use them.

Be confident in what you have to offer:

• Before taking the plunge, make sure you have gained lots of event and administration experience and are confident with planning events independently.
• Identify any gaps in your skillset and work hard to strengthen these areas through paid work or volunteering.
• If you need to keep costs down, teach yourself core skills that you will need, such as email marketing platforms, survey tools, accounting programs, design systems and website building.

Undertake Market and Competitor Research

The first thing you need to establish is if there is a definite requirement for the services that you want to offer. Instead of just believing it is a good idea you need to do some actual research to confirm this.

This information can be difficult to find and you will need to refer to lots of different sources to try to get a reliable picture. Look into public data, reports and analysis on the web, talk to people and try to undertake a focus group and individual phone calls with those that you are looking to develop relationships with, to determine evidence of a need.

Scope out the market through researching:

• Log the number of competitors there are in your area.
• Note the similarities and differences in the services they offer, compared to your business idea.
• Analyze and monitor the number of tenders and opportunities issued for event planning services over a certain time period.
• Speak to companies who issue these types of opportunities to determine what their frustrations are with the current offering and what is lacking?
• Calculate how many businesses operate within your target geographical area and business sector.
• If you can track it down, find national and local figures in terms of expenditure on events. Your local university is often the best opportunity to find out such data if it is not available online.

Identify Your Strengths (and Weaknesses)

Consider whether you are looking to offer a broad, full-service event management company or focus specifically on producing a specific type of event or a specific target market. Although it is tempting to try to offer everything to everyone in order to secure the maximum amount of business it may be that this is actually reducing the amount of business you secure by appearing like a “jack of all trades, master of none”.

If you can, focus on your strengths so you can tailor your marketing and all efforts to attract the right type of business from the start. For example, you may decide to specialize in conferences or exhibitions or party planning. Each of these areas is likely to require a different brand and language to attract the right clientele. The key is not to position yourself in too small a niche it is limiting but not trying to do so much that it detracts you from your real passion and focus and puts you outside of your comfort zone.

Work out your passion and superpowers:

• List the core areas where you know you have an edge. This should include the types of events you are most confident and passionate about planning or expert knowledge of an industry or subject.
• Analyze whether your specialty is broad enough to make a living from or whether you need to go wider.
• Also, be honest and consider what your weaknesses are. If you have gaps in your skill set and are not confident managing large-scale events in specific areas, be honest with yourself. It is important to consider what you won’t do. Running a music festival requires very different knowledge, contacts and skills than organizing a trade show. If there is a specific genre or size of event that would push you outside of your comfort zone or take you too far away from your true passion you are best to set your limits now.

Understand the Realities of Starting a Business

Think about how you are going to survive as it may take some time before money starts coming into the business and you still need to be able to pay your bills during this period. Many people start their business “on the side” during their free time, evening and weekends, whilst working for somebody else. This will obviously depend on the role you have currently to ensure that you are not in breach of contract – make sure you act ethically and fairly to your current employer.

Discuss your aims with your partner and family to try to prepare everyone for the change of lifestyle and circumstances. Working for yourself isn’t the same as working for an employer. The buck stops with you. You are likely to work the longest hours of your life, working 80 plus hours a week is not unheard of for business owners. Also, no work = no pay. Your salary is directly linked to the amount of profit you can generate.

Take decisive steps to work out a plan:

• Calculate how much you really need to survive each month and pay your bills.
• Save as much as possible to sustain you for the short term after you launch your business.
• Look into alternative income options, such as a part-time job, support from your partner/family or a loan.

What Type of Business is Right for You?

There are many different types of organizations and you need to learn about the different entities to determine which is the right one for you. You might want to be a freelance event planner or to set up a company. The legalities will vary depending on the country you will be operating in too. We recommend that you take advice from experts if you are unsure.

Work out which business entity is right for you:

• Know your personal liability in terms of different business options in case the business fails
• Find out the setup costs, process, ongoing administrative commitments and growth potential of different business entities
• Compare and contrast the tax implications of being a freelancer, compared to running a company

Decide on the Business Name

Think carefully and research your business name as this isn’t something you would want to change after launching. Look for any conflicts, which prevents you from using names already in use. Also, think about abbreviations to avoid any unfortunate shortenings.

Decide on a killer business name:

• Brainstorm ideas
• Share the best ideas with people you respect, including family and potential clients to see their reaction
• Check whether the website and social media profiles are available for your shortlisted names

Within this post, there is a section dedicated to choosing event planning business names and offering further guidance on this.

Create a Business Plan

Creating a business plan is highly recommended to crystallize your aims and intentions for your company. It is a document describing your business objectives, financial forecasts and strategies for sales and marketing.

Opinions on business plans differ in terms of how detailed this should be. Whether you create a lengthy document of 60 pages, a couple of A4 sheets or write it on the back of a beer mat, it will be a good use of your time and enable you to speak more confidently about your plans and identify problems. Certain banks and investors would also need to see this document. It includes financial and marketing planning information, as well as the vision and mission statements for the company.

Information you should include in your business plan:

• Your Vision for the Company
• Mission Statement
• SWOT Analysis
• Financial Plan
• Marketing Plan

Keep reading this post as we have a free business plan template for you to download and complete.

Think Seriously About Investment and Funding

Is any funding available to you? Certain geographical locations may offer incentives or grants for new businesses, to help them start out, or your college or university may be able to offer support. The traditional route for business investment was always through banks or through an angel or investor, although there are many more opportunities and non-conventional routes available today, such as crowdfunding. You may even be eligible for competitions looking for the best startup idea to secure investment and TV programs such as Shark Tank and Dragon’s Den which give you the chance to pitch your business idea, or at least get some great marketing coverage to tell the world about your product.

Steps to take:

• If you can you start your business without financial help this is always recommended as loan repayments are one less thing to worry about. Create a cash flow forecast to identify when the shortfalls may occur and if there are alternative ways of handling it, rather than a loan (overdraft, different payment terms with clients, negotiating credit terms, etc).
• If you do need investment, make a list of all of the options open to you, interest rates, repayment terms, set up time and the pros and cons of each. Include less conventional options, such as crowd funding and pitching your idea on TV
• Calculate exactly how much you need, what you need it for and when.

Incorporate/Register Your Business

Find out the process for formally registering your company and what information and format are required. This varies from country to country. In the UK, for instance, the government is keen to encourage people to go into business and so they make the process easy to reduce the barriers to starting up. You can complete a simple online form to create a company in less than 20 minutes.

Be prepared to formally start your business:

• Complete, sign and return the necessary forms
• Partners, Directors and the Company Secretary will also need to sign and complete the forms, if relevant to the type of business entity you are creating

Design Your Logo and Develop Your Company Brand Identity

When your company name is decided and registered you can start creating your company logo and branding. You might have to live with this for a long time, so make sure you are happy with your corporate identity. Tools and design packages are available if you have the skills to create this yourself, otherwise, a graphic designer should be able to create your company identity for you for a reasonable price. They can also design your stationery and business cards, which can be printed for a small outlay.

Develop your corporate identity:

• Brand guidelines should be created, detailing the correct use of your logo, font, colors, placement and so forth
• Consider how your logo will reproduce in different situations, such as reversed and on social media, badges, business cards, websites.
• You will need your logo in different formats such as .eps, .jpeg and .png.

Set Up Your Website and Social Media Accounts

Check your website domain is available and purchase it when your company name is agreed. It is also worth reserving the handles on social media channels too, even if you don’t yet want to start completing your profile details actively posting from the accounts. Aim for the same handles across all networks for consistency.

Sort out your online presence:

• Populate your web page and social media channels as soon as you can. Even if it is just a holding page and ’coming soon’ message it lets people know plans are afoot
• Get friends and family to follow you initially to boost your follower numbers on social
• Start sharing useful content to start building more organic followers

Protect Your Business Intellectual Property

Protect your brand via trademarks, patents, copyrights, whichever route is relevant to your product or service. Take specialist advice on these matters to ensure that you are protected against theft and plagiarism. Don’t think that it wouldn’t happen to you.

Don’t get caught out:

• Take legal advice to protect your IP
• Don’t be afraid of asking people to sign a non-disclosure to protect your IP whenever sharing information and ideas
• Trust no one

Set Up a Company Bank Account

When your company is registered you will be able to apply for your company bank account. This will need to be done face to face at your bank to verify your identity documents and to sign the relevant paperwork. Choose a bank account that matches your needs, for instance, do you need to deposit cash or take payments by card. If so they will be able to advise the best solutions available to you.

Choose a bank to support your vision:

• Shortlist banks by thinking about your needs now and in the future. For instance, if you have ambitious growth plans you may want to choose a bank that approves a lot of business loans
• If you need to visit your bank in person to pay in cash and checks, look at location and opening times
• Check out the online banking process and if an app is available
• Ask if you are allocated to a local bank manager or if all contact needs be via a call center

Confirm Your Pricing Strategy and Fee Structure

Thought needs to be given to your pricing and fees so you know how to answer questions about your costs. Although you need to know the specific details of an event project to quote accurately you still need to know your hourly and daily rates and to share them confidently. Consider whether you will quote on a fee basis or a time-charge basis. Other pricing methods you might consider are taking a fee as a percentage of the total event budget and taking a commission on any items booked related to the event. You may also want to offer set packages or have an introductory offer to entice people.

Get your price right:

• Research your competitors to find out how they charge and an idea of pricing. It can be very difficult to gain this information but if you can get an understanding of how your closest rivals price their services it will be very revealing indeed
• When you get an inquiry, make sure you ask lots of questions and get all the details you need to understand the project before quoting. Every event is different
• Create a list of questions to prompt you to ask anyone interested in your services. Take down all the details to enable you to calculate and create a proposal to share with them

Market Your Business Like Crazy to Secure Clients

Try to work on securing some clients and projects before officially launching the business. Having one client already signed up was a great confidence boost when I launched my company and definitely a deciding factor to take the plunge.

Tell as many people as you can about your intentions, including friends and family. Although they may not directly need your services they may know someone else who does.

Perfect Your Elevator Speech

If you answer the question of what you do with “I’m an event planner,” you’re hitting a line drive to first when you could be going for home. Instead answer with something like, “I help medium-sized businesses make indelible impressions on clients and increase revenue through user’s conferences.” Now, I’m listening.

People Buy People

It is easy, in business, to overlook the fact that we deal with real human beings. Real people can get lost between numbers, projections, ROI and profit margins, when really they are the most important thing keeping all of us afloat.

The importance of retaining a human connection externally with customers and clients and internally with staff and stakeholders, cannot be overstated. Successful connection is all about conversation, mutual understanding, and appreciation. If you don’t connect with the potential customer you are less likely to win the bid. We need to get personal, get real, and start an authentic dialogue to gain genuine trust.

That’s precisely what makes events so important. Events create the emotional energy behind the sale, the human experience element. And no-one at all, including those in procurement, really choose a logical sales choice. They make emotional ones – buying ideas. People don’t buy what you do, they buy why you do it, and the only way to truly engage people with that why, is to offer them a direct, human experience of your brand in real life.

Arguably, the value of connection has decreased. Online, no real thought or effort has to go into communicating anymore, and it’s the same with the way brands operate online. With an increase in the ease of communication, there’s a decrease in what it actually means – making the individual feel important. Keep this in mind whenever you are creating a proposal, networking or pitching for new business and work hard to develop genuine relationships with your client.

Win favour and get clients before you launch:

• Start networking, online and offline, and talking to people about your plans ahead of time to see their reaction
• Create business cards even before it is “official” and connect with useful contacts via LinkedIn
• Keep a list of potential prospects and be sure to let them know when you have officially launched
• Perfect and practice your elevator pitch
• Keep in touch and follow up with warm leads often; share an interesting article, send them a Christmas card. Don’t let them forget that you are ready and waiting

Take Out Relevant Insurances

Make sure that you are covered by the relevant insurances as soon as you start out in business. In the UK, for example, this may include public liability, employers’ liability, and business insurances such as professional indemnity, business and contents insurance. You may also need specific event insurance for different event projects. An insurance broker will be able to advise the specifics you need to consider within the country you operate in.

Protect yourself:

• Take professional advice on the type of cover that you need
• Get several quotes
• Know the estimated costs and process for additional event-specific insurances you/your client may need

Decide on Your Office Location

Think about where you will work from. Do you really need the overheads of an office? Can you start out working from home? As we have already mentioned, there are a lot of benefits from starting out using a home office. Often meetings can take place at the client’s office or in a local coffee shop or hotel anyway so having a plush office is not essential. If you feel that it is really important to have an office consider hot-desking, a shared workspace or incubator unit where you will get to meet other business owners too.

Give it some thought:

• If you can keep costs down and work from home then this is a wise decision, at least at first
• If you think you will feel isolated or struggle to focus when working from a home office, look at flexible options for hot-desking and shared spaces which keep costs and contracts to a minimum
• Compile a list of potential places to meet so you can always suggest a suitable location to a client

Purchase Business Equipment and Tools You Need

Starting an event management company has low barriers to entry as generally, it is a service based role, which relies primarily on your skills as an individual. As long as you have access to a phone, computer and WiFi you should be ready to begin! Notice will be required to install a phone line and WiFi to your chosen location though, so plan ahead for this before your launch date if you need any changes to your home set up.

Make a list:

• List the essentials you need to start out. Cross off things you would like to have and focus on what you actually need
• Identify milestones and rewards, such as, when we are paid by our tenth client we will open a bottle of champagne. Little incentives help you to be more aware of your achievements

Later in the post, we talk in more detail about what to do if you are looking to start a business with no money. For an industry like event planning, having little money is not necessarily a roadblock to starting your own business.

Identify People That Can Help You

For the foreseeable future you will probably be working alone, or perhaps working with freelancers on a project by project basis. You won’t have a large team around you, which you may have had in previous employment. Keep lean while you can – paying other people’s salaries is a big responsibility, especially when you are first starting out.

Sites like Upwork are great as they allow you to find temporary staff that have the skills you need and agree a set fee on a project by project basis. You can outsource legal contracts, copywriting, web design, video editing and any task you can think of. You can even hire a virtual assistant to help with administration or handle phone calls.

Locally, try to develop a network of suppliers that you know and trust so you know where to turn to for quotes whenever opportunities arise. Let them know that you are going solo and they may also be able to recommend you for projects they hear about.

Think about ways you could work with others for mutual satisfaction and benefit. For instance, a nutritionist might partner with a gym to give her clients a discount, and the gym might have a reciprocal agreement for referrals with the nutritionist. Together they’re getting more clients by offering their clients more value.

Grow your support network:

• Get to know local vendors so you know who to call on when you need quotes turning around quickly
• Make a list of freelancers that you can contact and that you may need to work with on larger projects and when you get too busy
• Get a feel for the type of skills and services you can access online through freelancer sites and the rates charged
• Identify ways you can work with others to offer your clients more value

Officially Launch Your Business

When all these elements are in place the time has come to officially launch your business. People need to know that you are now open for business. Plan well ahead for this day and try to have clients on board even before your official launch.

The hardest step is getting your first client. With every client that you work with you are building a portfolio of achievements which can help you to gain further business.

Launch with a bang:

• Re-contact everyone and anyone that you have spoken to during this process and let people know you are now officially open for business.
• Get on Facebook, target your geographic area, start an ad campaign with $20.
• Plan the best launch party you will ever plan and invite along potential clients. Show them what they are going to get if they work with you.

Stay on Top of Paperwork and Accounting

Any business creates a number of administrative duties, such as tax, accounting and legal reporting and requirements. There are a lot of things that need your attention when running a small business, which takes you away from doing what you actually love and are good at – event planning. Take care to stay on top of all paperwork and declarations relevant to your business and the country you operate in. Submit paperwork and accounts in a timely manner before deadlines otherwise you could be subject to fines.

Always cover yourself by having written contracts with all suppliers and vendors and freelancers so that there can be no misunderstandings or liabilities.

Get systems in place:

• Note key deadlines
• Create sample contracts
• Find a simple accounting package to record all financial transactions – and a good accountant
• Create invoice templates

Develop Your Business Opportunities

Be sure to dedicate plenty of time to developing and growing your business, otherwise, you will find that you complete your first projects and then have no more work on the horizon. Managing cash flow and the peaks and troughs can be difficult as you get to grips with being your own boss.

Think about the next steps for your event planning business:

• Set up alerts or systematically check websites for relevant opportunities and tenders and get out there to network and meet people
• Develop template marketing content and wording for proposals so you are ready to respond quickly as you find out about opportunities
• Refine your pricing structure, fees and charges as you go along
• It can be very lonely starting out in business so make sure that you have the opportunity to talk to other business owners, compare notes, solve problems and share inspiration
• Get a business mentor to help guide you through this tricky beginning period

When I was considering starting my own event management company I enrolled in a night class which helped me to create my own business plan. The tutors shared a business plan sample layout, as well as general advice and support about taking that important first step into being your own boss. I know how much this helped to focus my efforts on starting up the company and my aims for the future and so I wanted to share with you my own event planning business plan sample.

What Makes a Good Business Plan?

There is no right or wrong answers for your business plan, it is unique. You can adapt the layout specific to your requirements. There may be additional information that you want to add in or questions that are not relevant to your business model. Regardless of the specifics you include and how many pages the completed document is, your business plan is what turns your idea into reality.

The most important questions that your business plan needs to address is:

What will make my event management company stand out?

How will my event planning business succeed when so many others fail?

The strongest business plans:

If you don’t have a problem you are solving, you are a minnow in a very large sea. As an event planner you could be rallying against “ho-hum events” or ensure “more revenue, less hassle” for annual conferences. People hire planners because they don’t want to deal with the details. They want the headache to be someone else’s. Demonstrate through your business plan how you will demonstrate this and take those things on so they can get back to business.

What is your value? What do you do differently from other event planners? Know your unique value to a specific type of client and explain it at every chance you get.

Communicate what you want to achieve so that any potential investors can see at a glance what your business idea is, without using any complicated jargon. Your plan doesn’t have to be long but it should establish the vision for your idea, your objectives, how you will deliver the plan and how it will make money.

Know Their Market and Do Market Research

If you understand your market and the competition, you have a better chance of understanding the business need out there and how your business can position itself. Be clear about your target market Who will you be selling to? Why are you different to your competitors?

Are Realistic with Figures

It is difficult to be accurate and the numbers in the finance section can be scary but it is important to try to be realistic. If your business isn’t going to make money it is best to know now so you can refine your ideas into a viable business proposition. Likewise you need to identify how you will make a profit and the anticipated timescales for this. A strong financial business plan will be essential if you need to secure loans and investment, as well as a tool to keep you focused.

Revisit the Business Plan and Goals Regularly

Your business plan should be a working document, particularly in the important first stages of starting out in business. The process of thinking about and creating your plan is what will give you a competitive edge. Check back and revisit your plan regularly. Let the plan grow with you and your business to keep you on the right path.

Download the event management business plan PDF below and create your own bespoke action plan for your startup.

Do you want to add this PDF business plan template to your own website? If so email [email protected] .

How to Set Up an Event Management Company from Home [Video]

Picking a name for your new business venture is highly important, as you want to get it right and select an epic company name that encapsulates your vision for the business. Deciding on event planning business names may be one of the final decisions you make, as working through your business plan will help you to define the vision of your new entity and therefore impact on the name.

Choose the right company name and ensure that your message and ethos are successfully catchy and well marketed and memorable for the right reasons.

Demand Attention

It’s ok to be different. Look at what your competitors are called and make sure that you don’t come up with a variation that could be confusing. Being outlandish or weird can actually benefit you when choosing a company name because they are more memorable, attendees will start talking about it and they will want to know the story behind it!

On the other hand, don’t push the boundaries too far if you want people to get your name right. I have lost count of the number of times we get referred to as Northern Events, as Events Northern is not the natural way of saying it.

Make It Snappy

Not only is a short and snappy name easier to remember and recall but it can make branding, marketing and signage a lot easier to accommodate as well. Shorter names that stick in people’s head are some of the best options that you can choose. Shorter names pack more of a punch.

Be Laser Focused

Are there gaps in your current event niche that aren’t being catered for that you can get across with your company name? Do some market research just for naming, as this can help you with marketing and focusing your demographic further down the line.

Embody Your Ethos

Know and understand what you want to get across to potential clients before you start and try to embody that in the name. Also, remember that it is your message and style that makes your business unique, and that will help to put a creative spin on your business name.

Although it is hard, try to think long-term in terms of your name as you never know where your company will take you. This is something I have learned from experience as, at the start, Events Northern was always focused on events in the North of the UK, so the business name was ideal for our core focus. Over the years though, our business opportunities have become more varied and we do more national and international work, which isn’t just focused on the geographical North. Although this hasn’t held us back, it is also difficult to quantify the number of clients that have not picked up the phone and contacted us because of our name.

Seek the Truth

It can be very easy to be blinkered when you are deciding on something you are so passionate and invested in so asking for other’s opinions can be an asset, especially if you can’t narrow down your options to confirm the definitive name. Crowdsourcing allows you to get a view from real people; whether it is your family and friends or a focus group you can pick up on things you wouldn’t have even thought of and get a different viewpoint. Gathering impartial data and suggestions can also give you inspiration to evolve your ideas further. It is also a way to check for abbreviations or potential initial errors in the name that you can fix now rather than not noticing until further down the line.

The name is important, but telling yourself that over and over again will usually only lead to one thing, writer’s block and then you aren’t getting anywhere. For many people, it is not easy to come up with something creative and original within 5 minutes so these things take time, and most often you will have an “ah ha” moment when you least expect it. If you are struggling to get any ideas out, get a piece of paper and a pen (old school style) and free write for 5 minutes, write whatever comes into your head, literally everything; chicken, ghost, house, rain, whatever pops into your head and it can help to free up your creativity to get through writer’s block.

Expand Your Vocab

Creating a play on words is effective but you need the knowledge to do this, so pick up a dictionary or thesaurus and help to expand your vocabulary. You can use it to find synonyms of other words or expand your adjectives.

Triple Check Availability

This is the techy bit, check that the URLs and legal rights are available, nothing worse than coming up with the best name ever to find it is actually an obscure blog or failing company that you can’t use the domain name for. In some countries, there will also be restrictions on using certain names together which could lead to infringing copyright or naming patents.

If you are dead set on a name but have found someone else has the domain that you want, you can always contact them and ask them to sell it to you because while big brands and names won’t, there could be older websites or retired bloggers that would be happy to sell up and make a little money on the website they had 10 years ago, plus it can’t hurt to ask.

When you are set on a name also check the social media platforms to aim for consistency across the board.

Think Performance

Google can be a useful marketing tool to spread the word about your business but it is much harder to use if you have a lot of competition. Choose names that aren’t as popular, that don’t have common words in them or that make them specific to certain locations such as; Bonnaroo or The Kentucky Derby as these are more unique and you’ll find yourself higher on the search engine pages from the get-go.

A common question that we get asked is “how much money do you need to start an event management company?” The good news is that the answer in most cases is not much!

Starting an event management company generally has low set up costs compared to many other types of business. The essential equipment/elements you will need are:

• A computer or laptop
• WiFi access
• Desk (or table) and chair

Things that will help but are not essential include:

• Website (recommended)
• Access to a printer
• Answerphone/answer service
• A vehicle (it is difficult to use public transport when you have event equipment to transport and need to be on site at 5.30 am)
• Business cards

You may already even own/have access to these items. If not, all of these things should be easily within reach.

How to Start an Event Management Company with Little or No Money (Yes it is possible!)

When you are starting out in business (and even when you are established!) you should do everything you can to minimize expenditure. When you work for yourself it is true that every penny counts.

Absolute Essentials (Things you Can’t Skimp on) When Starting an Event Planning Business

If you have no money you can still start an event planning business, so long as you can start making money fast. Let’s talk through how you can start your business if you really have zero money, in terms of the essentials and the nice-to-haves we just identified.

• A computer or laptop – more than ever before people own laptops and computers. Although it would be nice to have the latest PC or Mac, as long as you can access the internet, emails and basic programs, that is all you need. If you don’t have your own machine you will need to beg, borrow or steal one somehow. Consider a second-hand device or refurbished model if need be.
• Phone – whether it is a cell phone, landline or VOIP phone system you need some way of calling out and ensuring that people can get hold of you. You probably already have some method of communication but consider increasing your inclusive call, text and data allowance if you find you are using it a lot more than before.
• WiFi access – if you don’t have WiFi at home there are plenty of coffee shops and public spaces that offer it for free. And they can provide you with a table) and chair too if you need one.
• Insurance – this is important and not something you can skimp on, but make sure that you get multiple quotes so you can choose the most cost-effective options. Be honest with your broker. Don’t exaggerate your business activities and turnover as it only means that you will pay more for your policy. Provide the facts and know that if and when your circumstances change you can alter your insurance cover. Request monthly payment plans, rather than annual policies.

How To Access Things You Need for Starting an Event Planning Business (Even When You Have No Money)

• Website –  most domain names can be purchased for a few dollars unless they are in high demand, but through your research, you can avoid those. There are lots of free and low-cost website builders out there too, allowing you to create a simple website or holding page, without any web building skills. Alternatively set up a company page on LinkedIn or Facebook and refer people to there instead.
• Printer – if you have fully embraced the digital age this one will not worry you but being able to print things you need can be useful to prepare for important meetings and live events alike. Of course, local libraries and print shops can print things for you, for next to nothing, without having to buy a printer.
• A vehicle – being able to drive and having access to a reliable vehicle are things every self-sufficient event planner will need. If you don’t own your own vehicle consider hiring a car or a van specifically for event periods/
• Business cards – business cards cost next to nothing nowadays and you can even design and proof them yourself online and have them delivered to you. Alternatively, create a digital business card or connect with people via LinkedIn instead.

5 Genius Ways To Quickly Inject Money Into Your New Business

If you are starting out and desperately need to bring some money in, there can be four ways to access funds quickly:

• Have clients ready and waiting – this is the preferable and most organic and least scary way of starting out as a solopreneur. If you can have clients and projects ready and waiting for you as soon as you launch your event planning business it makes the transition from paid employment to business owner much less traumatic. This is the best way to avoid sleepless nights.
• Register on virtual work sites – register your event planning, business admin and other skills onto freelance sites, such as Upwork. This allows you to bid and accept work around your other commitments.
• Register with an agency and let contacts know you are available – registering for event work through an agency and letting event agency colleagues know you are on the market for event work can be a useful way to be in an event environment, following instructions from someone else and getting paid for it. Just because you are the boss, don’t think that working the registration desks at someone else’s event is below you.
• Take paid work in a different field – consider taking on a part-time job where the hours and convenience can work around your new business. It might be in an unrelated field but at least having some income coming in can be one less thing to worry about.
• Loan – it might be that you need to investigate a short-term loan, either from the bank or borrowed from friends and family.

Owning your own event freelancing or small business can feel like feast or famine when it comes to work, which means that managing cash flow can be a big challenge. Some days you’re turning it away because you don’t have the bandwidth and other times you’re worrying about having no projects lined up and how you are going to pay the bills.

Operating your own event planning business is wonderfully fulfilling but it also means you’re on the hook to market yourself while busy performing event services. You need to keep the flow of clients coming in. For so many freelancers and sole proprietors, it can feel like boom or bust. If that’s the case, one of the most important things you can do for your business is evening out that cash flow.

Balancing out your cash flow is one of the best things you can do for your long-term success as an event freelancer or small business professional. It’s a challenge but can be done if you look for the right kind of client and nurture that person and relationship. Here are a few ideas on how you can even out your cash flow problems and work peaks and troughs.

Startup Problems: Too Much Work and Too Many Clients

We get it. The last thing you want to do as an event professional who has feast or famine times is to turn away work. It feels almost painful when you know a few weeks or months from now, you’ll really need the income. But you also likely know that you can’t run yourself ragged forever. It affects your health and means you could be pulled in so many different directions that all of your clients feel the lack of attention. This will make it next to impossible to get good referrals from them so you certainly don’t want to do this. Instead…

Create an Event Co-op

Until you build a roster of recurring clients who keep you busy year-round, you will have hills and valleys, dearth and surfeit. In order to level that out, one of the things you can do is work with other event planners in a referral group. Just as a physician will provide a patient with a referral to another physician, you can do this with a group of event managers. Select a group of professionals you believe in and can trust. Remember, you’re telling clients and potential clients that these event profs are as good as you are. Make sure you’re not giving a bad referral.

You also want to ensure that this sort of relationship works for you too. If you’re referring clients to them, you’re hoping they will do the same for you when the opportunity presents itself. Make this clear.

You can also use the group to help increase your staff. If you’re afraid of losing the client altogether, take the client on and then work with your group to cover some of the other functions you don’t have time for. Pay them accordingly.

Let Them Go (for a fee)

This is a similar idea to the one above. If you don’t have time to take on the client, refer them to someone else but request a finder’s fee. While this is not customary in event planning, it’s not uncommon in other industries and a hungry event planner may be willing to give you a small fee for the referral.

If you find yourself doing this often and there’s a market for this type of service in your network, you may discover that you have a new business.

Set Up a Referral Plan

If you have several happy clients, now is the time to create a formal referral program. Ask happy clients to refer you to others in their network or tell your clients that you are accepting new clients for events in a stipulated time frame (like Spring of 2018). This helps you book up your calendar in advance, rewards your clients for the referrals, and creates scarcity when they see how far in advance you are booked. This drives people to book you early or ask for other suggestions, which can help you work your referral group as mentioned above.

Startup Problems: Balancing Out Cash Flow When You Have Too Little Coming In

Even the best event profs can have problems with a steady flow of clients. Whether it’s due to a cyclical economy or being new in town, you’ll likely face a lack of clients at some point. When you do, here are a few things that can help make up for it.

Hire a Virtual Assistant

With feast or famine, you can’t exactly hire someone. What would happen during the famine? But you also can’t grow your business without hiring someone. What should you do?

In this case of plenty, consider hiring a virtual assistant to allow you to bring in more work. You can hire them on a contingency system where they work on projects when you have the work. When you don’t they go back to serving other clients. There’s no long-term contract and you needn’t worry about paying them when you don’t have projects.

A virtual assistant is a safe way to take on additional work that will help you grow without taking the risk of another full-time, permanent employee. You can task them with researching potential new clients too, to hopefully help even out your flow of work..

If you want to get your name out there in an area where you don’t have much of a reputation, consider volunteering on an event or in an activity that would give you exposure to your ideal client. Work hard and make an impression and your new network of people met through volunteering may just hire you. Don’t push your business on them. Simply look for ways in which to be helpful.

Get Clients with Recurring Events to Book Early

While it may not help you get paid any earlier, this tip can help you get your calendar booked early so you can worry less. And if you require a downpayment to hold the spot, you can get a little revenue coming in before the event. If you have clients with recurring events, give them an incentive to book you early. You’ll have peace of mind and you can pass along a small discount or financial incentive for them to get on your books for next year’s event this year.

Ask Your Network

If your event business is new or struggling, the easiest and least expensive way to grow it is through referral marketing. You never know who you know. Don’t assume your friends and family have no use for your services. Ask them if they need any help. Sometimes, someone has taken on more than they can handle and they need someone to finish the project. Other times, they have someone in their network who needs help with an event.

Most people would be willing to hire an event planner that a good friend referred them to, so get happy clients and attendees to talk about you. Our friends know us and know what we like. They wouldn’t steer us in the wrong direction. But it may surprise you to know that people will even make hiring and buying decisions based on reviews by people they don’t know. According to a study from Ogilvy, Google and TNS, 74% of consumers identify word-of-mouth as a key influence in their purchasing decision.

According to the Word of Mouth Marketing Association, one offline word-of-mouth impression drives sales at least 5x more than a paid mention does. Paid advertising may not be in your budget anyway if you’re just starting out but it’s reassuring to know it’s not the most effective way to reach your audience anyway.

Give those referring you all the information they need to make sharing it with their network easy. Make sure to thank them when they do and offer them a referral fee or thank you card or gift for their assistance if work materializes as a result. You can even offer a friends and family discount or free consultation.

Join a Group

Join a group and get to know other people. In-person networking groups like your local chamber of commerce and others as well as virtual groups on LinkedIn and Facebook allow you to make connections with your ideal clients and other professionals who can help expand your network.

When you join a group, don’t hit them immediately with how desperate you are for a new client. Instead, look for opportunities to be of assistance and connect them to the people they want to meet or need help with. If you become a resource for others, they are likely to become a resource for you as well because they will begin to know, like, and trust you.

Become a Subject Matter Expert

As mentioned above, becoming a resource for people is a good way to get hired. That’s why becoming a subject matter expert is paramount to getting clients year-round. If you can become the noted expert in an area, book speaking engagements, publish about topics of interest to your ideal audience, write a book (or an ebook), post on sites offering your assistance or answering questions, following others on social media and joining in on chats and other discussions, you can quickly become known for your insights. When you do, people will approach you to work for them. This means less time spent needing to market your services.

Know one more benefit to becoming a subject matter expert? You can increase your pricing, which is another good way to improve cash flow.

Sell Something

Going off of the subject matter expert advice, look for ways you can expand your offerings and sell something. As an event professional, you are exchanging your time for money. You can make a very good career doing so but you can also exhaust yourself chasing the money and working the hours because you want more of it (to make up for times when clients are few and far between).

An ideal way to balance out cash flow is to produce something that can earn you money without you being involved. For instance, a book, product, or even a course can bring in revenue without an additional investment of your time. You invest initially in its creation because you do so on spec. Most likely you will not be paid to create it. But once it’s created, the revenue possibilities aren’t limited by the hours in the day. People can buy it (and pay you) even while you’re sleeping.

Offer a Smaller Service

You likely serve a particular audience and you’ve decided what they will pay. By setting your prices you have chosen to work with a client of a specified means or revenue. That leaves others out and that’s okay when it comes to booking events.

But a way to get more clients is by going into another market. This could mean taking on another niche or dropping your price. If you’re not interested in doing either of these things, try offering smaller consulting services. This would entail shorter stints, less work on your part, and a wider audience base. For instance, you can offer “day-of” event manager work on events. Some corporate people plan the events and then realize they don’t have time to manage them or need additional support. Or some people just want a plan they can follow. Their limited budgets may prevent them from hiring a full-time planner. You can fill that need.

Improve Your Existing Cash Flow

To improve cash flow, either get more clients, raise prices on your services, or change how you collect the money. For instance, adding a payment plan for large events that would bring in a smaller amount each month preceding the event would help, as would requiring a down payment to hold the date and another partial payment when they see your first plan or some other accepted milestone. Your final payment may be diminished but spreading out the payments would bring some stability to the cash flow.

Put on Your Own Events

Instead of waiting for clients to come to you, think about opportunities you can make a start on right away. You probably have event ideas which could be financially viable, so why not do them yourself? Of course, there is risk involved and investment needs to be secured but it can also potentially give you the biggest returns. You can start small and build the event year-on-year. Consider options such as crowdfunding to test the viability of the idea and reduce your financial risk. Look for in-kind sponsorship, partners, funding opportunities and ticketing to balance the budget.

Winning Out-of-Town Business

If business is really slow, think about if you need to widen your catchment area to look for clients a little further afield. Of course, the convenience factor drops and the travel time and expense increases when you are working out-of-town but if the demand for services is high elsewhere new contracts can be negotiated to cover these factors. Setting travel budgets and fees can feel a little overwhelming in the beginning, but they can still profitable course of action.

Know your worth. It’s non-negotiable. The only exception to that is if you have a potential client who will open up doors for you. In that sense being flexible in your pricing may just be the cost of doing business.

Getting Contracts Approved Faster

Winning a new contract should be a cause for celebration but it can soon turn to frustration when your client’s board or legal team are causing unnecessary hold-ups to the progress of the project (and the first invoice being issued).

Of course, people get busy. Email inboxes become overwhelmingly full. Forgetting to sign your contract isn’t a personal slight but it simply may have fallen off of their to-do list. Politely remind them every few days. Make sure the reminder that you set for the day before the deadline has a much more urgent tone.

If you’re worried about sounding pushy with these reminders, word each differently. But start with something along the lines of, “Just checking in to see if you had any questions about the contract. I’m eager to get started.” or “ Wanted to see if you needed anything further from me in order to get the finalized signatures. Please let me know.” Then as the deadline approaches, add more urgency and personalize the subject line.

Businesses need to know who they serve and what problem they solve. Building your event business is critical to paying the bills but if you’re selecting the wrong clients, numbers won’t matter. Attract the right clients and you’ll create a business you love. Attract the wrong ones and you might not be in business much longer.

A successful event business is about more than just numbers. Yes, numbers make the difference between a red balance sheet and one that’s in the black but there’s more to building an event business than just getting people who will pay you money. If getting bookings for events was all that mattered, everyone would be in business for themselves.

However, having the right type of client is as important as having projects that pay the bills because without good clients, you’re more likely to return to working for someone else. The wrong kind of client can be one heck of a headache so you want to make sure you attract the kind that you enjoy working with.

Don’t Try to be Everything to Everyone

You cannot please everyone, and trying to offer event planning services to everyone, no matter what their brief is, means that you are missing out on specializing on your strengths and developing your specific area of expertise.

Newbie event professionals who want to eat often take anything that comes their way, whether it’s the kind of work they want or not. They also try to be all things to all people because they worry that if they segment their marketing or target a particular niche, they’ll miss out on work. The opposite is true. You can’t market to everyone without weakening your message. Most people think choosing a niche is limiting. It’s not. It’s called specializing and specialists are worth a lot more than generalists. Ask a neurosurgeon. Selecting a niche to focus on can be the wisest move you make.

As personalization increases, niching will become an expectation much in the same way physicians select a specialty. Yes, some people will still be in general practice but those in high demand will specialize.

In a niche, you will be expected to:

• Know your niche and keep up with its needs
• Understand the specific needs and requirements of your clients
• Participate in the social media platforms of the niche
• Expand your niche as interests expand
• Market to your niche
• Cultivate a referral culture in your event planning business

Refine Your Marketing Messaging

Determine who you want to work with and speak only to them. Once you know what you want and who you work well with, cast narrow not wide. Focus in on your ideal and turn away those who don’t fit it. Everyone will be happier in the long run.

When you personalize your marketing to a specified group of people, they will feel you are speaking just to them and will appreciate the personalized attention. You’ll then get to work with the type of client you want in the area you want. By doing so you begin to make a name for yourself among your ideal client type and they’ll share your information with their like-minded friends and peers, attracting even more of your ideal client.

Saying Yes to the Wrong Client, Means Saying No to the Right One

You only have so many hours in your day. Every project and client you choose, takes your time. If you say yes to one that isn’t your ideal, you’re taking the spot away from someone who is, and that someone could be the next email you receive. Pass on clients who aren’t your ideal. When you get your marketing refined to target your ideal client, you won’t need to worry about the others. You’ll receive a better referral and review if they’re in your ideal category because your services will shine.

But still, many businesses hesitate to narrow down prospects because they worry that means less potential clients. It does from a numbers perspective but it doesn’t matter. Let’s take a look at keywords to understand this concept. You can take a keyword and by using analytics tools see just how often someone searched for that term. In pay per click, some terms are more expensive than others to place for because they are popular searches. But that doesn’t speak to their value. In order to decide whether that’s something you want to pay for or not, you want to look at conversion rate. If there are only 1,200 searches of that term per year, but a large percentage convert, then you would be wise to buy for that term.

The same is true for niches. There may not be as many people looking for them but if those who are looking, are serious clients, that’s all you care about. You don’t want thousands of inquiries who want RFPs only to vanish in the night. You want people to self-select before they ask you to give of your most precious commodity – time.

Fire the Mr. and Ms. Wrong Client

If you’ve already taken on clients who were not your ideal, finish up those events and walk away. It’s easy to agree to do another job for your less-than-ideal clients instead of worrying about where your next client will come. If you feel that pressure, resist and understand that taking on the wrong clients means that you’re going to end up with more of the wrong clients as they refer you to their peers. Think of the referral business like high school cliques. Jocks are generally friends with jocks and nerds with nerds. If you want to do business with nerds, don’t ask the jocks for referrals.

Be Brave and Get Known for Your Event Planning Niche:

• Say no and walk away to clients you know are not a good fit. It may sound like suicide but you need to focus on getting to the right people
• Trust your gut instinct more often
• At the end of each project determine whether you should work for the client again. If it isn’t right, be brave and walk away

New Research Reveals the Most Effective Strategies Event Planners Use To Get More Clients

In January 2018 we conducted one of the largest pieces of event planning research ever completed. With 2,400 contacts and over 1,000 respondents. If you would like a copy of this research to publish it on your website, you can request it here:  State of the Event Industry Research 2018 .

45% of the event planners we surveyed told us that they have more clients than 12 months ago. 43% have the same amount and 12% have fewer clients. The outlook for the industry is looking positive overall.

We asked event planners their most effective strategies to find new clients and the top strategy was networking face to face (66%), followed by social media (45%).

In order to be successful in your event planning business, you need to learn to prioritize leads to understand who to spend your time with and who to let go. Since you can’t get a refund on precious time, you’re hurting your business if you waste time on the wrong people.

One of the most critical things you can do for the success of your event planning business, outside of pricing, is understanding the leads process. If you don’t, there’s a good chance you’ll either waste your time on someone who will never become a client or you’ll ignore someone who could be very good for your business.

If you’re unfamiliar with lead screening and prioritizing, it’s time you learn all about it. Here are the basics you need to know.

The Basics of Lead Prioritization

Prioritizing leads will not only help you spend time with the most worthwhile prospects, it will also increase your revenue because more of your time will be spent with those who are able to make a difference to your checking account.

Know Your Ideal Client

There is no way to prioritize a lead effectively if you don’t know who you want to work with. As we have already covered, you should identify your ideal client, otherwise, it makes it next to impossible to be effective in your lead generation. Select a niche to serve, or at least identify your ideal demographic. Do you want to work only high-end events or do you love family-oriented get-togethers? Or maybe there’s an industry you know well. Whatever it is, sketch out who your ideal client is and what they struggle with.

Know Where You Excel

Another way of narrowing down who it is you want to work with is knowing what you’re good at. If you are a whiz at last-minute soirees or you host amazing destination events, decide whether that’s something you want to specialize in.

Now that you know who you want to serve, you can go into prioritizing how to work the leads.

Attend to Inbound Leads First

While this is common sense, some event planners still forget this basic advice. Always work inbound leads first. These are people who have reached out to you. Most event planners understand the priority behind a contact form but fail to see that there are other inbound lead types. These could be people who stopped by at your booth at a show, asked you a question via social media or downloaded material from your website.

No matter how they approached you, the follow-up is critical. Check in with them periodically to see if you can be of service. Use drip marketing or a newsletter to stay in touch and remain top of mind so that when they need an event planner, they think of you.

Prioritize the Clicks

If you send out any sort of cold messaging via email or a newsletter, follow up with those who have clicked on any of these materials. If the person is someone who started as an inbound lead where they contacted you and were then added to a list, they take priority. Otherwise, anyone who clicks on your email or newsletter content deserves a polite, how can I help you? or would you like additional information/content? contact.

No one clicks out of kindness. If they click, they have some interest in you, your services, or your content. Ideally, you would have technology in place that could keep track of their activity history and you could analyze it for patterns. For instance, do they seem to click on a particular topic like corporate events? Then consider touching base and offering them your corporate events guide.

This will position you as an industry expert, understanding of their needs, helpful, and a resource to turn to for assistance. All of these things will bring them back when it is time for them to make a decision about their event.

Stalk Website Visitors

Assuming they have downloaded content from you in the past or are on your email list, you can track every time they visit your site (if you’ve invested in the technology to do so). Pay particular interest in what they’re downloading and the pages they’re visiting.

When you contact them to see if you can be of service, offer them a piece of content that is in line with their interests. Just make sure it’s not something they’ve already downloaded.

Pick Up the Phone

If you have absolutely no potential clients reaching out to you, it’s time to do some research and find events that may be a good fit for your services. You can contact businesses directly (for corporate events), inquire with other vendors on potential partnerships, or market yourself on social media, to name a few.

However you decide to do your own cold calling (or approaching), make sure you have your ideal client information at your fingertips. You do not want to approach someone just for the sake of getting more contacts in. Make sure they are good contacts and would make good clients and a good fit. Otherwise, you are wasting your time and theirs.

But what if you don’t have any of the technology set up? What if you just want to know how to prioritize leads that are all coming in the same way such as through a contact form? Keep reading.

Prioritizing Same Type Leads

Let’s assume all of your contacts are coming in the same way and you’re wondering how to prioritize and screen them so you’re not wasting your time with leads that won’t convert. The first way to help you prioritize is to create a contact form that tells you what you need to know before contacting them. These things include:

• The nature of the contact such as question, availability, pricing, etc.
• If it’s a question, allow them to type it in a notes section. If it’s availability, prompt them to add a desired date and size of the event. If it’s a pricing inquiry, ask them for all the details that go into your pricing analysis. That way you don’t have to contact them to get the basic information to answer their question. You already have it and can skip right to providing a response.
• Their name and contact information such as company name, phone number, email address, etc.
• Their budget. If you only work on events with a budget in a specified range, make this a must-answer question. It’s better to know ahead of time, even if it means some people drop off, than it is to spend your time with a person who isn’t your ideal client.
• Type of event.

Remember that ideal client list you made and the demographics you laid out? Use that to prioritize incoming leads or contact forms. Ask yourself the following questions:

• Is this person in my ideal demographic?
• Is the type of event they’re interested in something I like to do?
• Does their budget match my ideal event?
• Will I gain exposure or networking benefits from being involved with this event? In some instances, you may decide to override your ideal client, budget, or event specifications because of the people you’ll meet or the exposure you’ll receive. This may be true of a philanthropic benefit, for instance.
• Is there the potential for repeat business? Maybe they’re not your ideal budget but the repeat business involved in a recurring event may bring them closer to your ideal in the long run.

Content, Conversion, and the Sales Funnel

It’s important to talk about conversion, the sales funnel, and lead nurturing. Selecting an event planner is not the same thing as going into a store and buying a loaf of bread. When you want bread, you walk into the store and buy it. There’s very little comparison shopping done. A quick scan of the shelves and that’s it.

On the other hand, there could be a very long sales cycle in selecting the perfect person to plan an event. The client could also be mid-cycle, meaning they don’t need a planner now but anticipate the need for one in the future.

This process of selection is often depicted as a funnel. A funnel starts with a wide mouth. If you’re marketing your services, you’re likely casting a wide net. (Although, hopefully not an immense one. You should be personalizing your campaigns based on your ideal client.)

Entice with Content

At this stage, people don’t know you or your business very well so you provide them with introductory materials based on their needs.

After digesting these materials, some people will decide you are not a good fit for their event. This decision is usually based on preliminary qualifications like budget and industry specialization. This elimination is okay because you don’t want to work with just anyone.

Is This The Start of Something Special?

Next, people now know a little bit about you and have decided you can handle their event but do they want you to? This part of the process is all about personalization and making connections. They have options when it comes to event planners. At this stage, they’re ensuring you are someone they want to work with.

Again, some people will decide you are not a good fit for them now that they’ve gotten to know you better. Maybe your personality and theirs don’t jive. Maybe they’ve found someone who knows a little more about their industry. Whatever the reason, don’t worry about it. This works both ways as you may decide you have no interest in working with them either.

It’s a Match!

The last part of the sales funnel is the narrowest. The potential client knows you can do their event, they like you well enough to give you the opportunity, and now they’re just narrowing it down to a decision. Remember, that decision could mean your competition or it could just as easily mean forgoing an event planner altogether and doing it on their own.

At this stage addressing their needs is more important than ever. If you can provide a much deeper connection and understanding of their goals, they are more likely to select you.

So what moves people down the funnel? It’s not gravity. It’s a thing called nurturing.

You Can Do It

This is why prioritizing potential clients and leads is so important. The sales process requires a natural sloughing off of potential clients. Because of this, you don’t want to spend any extra time with prospects that won’t become clients. You want to recognize the potential of becoming a client as early as possible and spend your time with those people. If you spend your time with tire kickers who never convert to sales, you’re losing money.

Identify your ideal client so you can recognize them when they fill out a contact form or call you. Know the right questions to ask to identify them as such and don’t be afraid to say goodbye to those who aren’t an ideal fit. For those who are a good fit but aren’t ready to make a decision, nurture them until they are. Be a resource and you become a valuable ally.

Be a Client Magnet:

• Use the tools detailed earlier to recognize your ideal client early in the sales cycle.
• Provide them with helpful information to assist them in making a decision.
• Stay in contact with them, acting as a resource.
• Pay attention to how they are interacting with you.
• Reach out to them on social media and share content that you believe they will find helpful. Share their content as well.
• Have many resources on your website that are suited to all stages of the sales funnel so they can self-identify and continue their desire to find an event planner with your help.
• Use a drip campaign or a newsletter to stay in contact with them as they make a decision.
• Solve a problem for them.

One of the most common questions we get asked at EventMB is how to get more clients. Whether you are a self-employed event planner or an ambitious CEO, clients are the lifeblood of the business. It seems to be a lot harder nowadays too since people are tuning out advertising. But it’s not hopeless. The good news is that many of the ways you can reach new clients are free (or inexpensive) to you, outside of the time it costs to perform them. Whether you are introvert or extrovert, there are plenty of ways to land new clients. Knowing your ideal client will help you recognize them when you see them. It will also help you understand which tips on this list will help you the most. Here is the biggest list of tips to attract more event planning clients and grow your event planning business.

The event industry is a service industry and event planning is a service which means:

no clients = no business.

You need clients to survive and we all want to gain profitable event clients. Here is a bumper list of ways you can improve your client magnet potential while business is slow.

Create Happy Clients and then Ask for Referrals The primary thing you need to do, is to create happy clients and attendees. Without them, there won’t be any referrals even if you beg and plead – at least not the kind you want to be published. Find ways to delight and excite your attendees and clients as the basis for creating a referral plan. Once you have people who think you’re amazing, you can begin creating opportunities for them to share their love of your work.

Gain More Reviews of Your Services You want to make it as easy as possible for people to review your services so when you ask them to review your work, either refer them directly to the website that you’d like them to post the review on (such as LinkedIn or Facebook) or tell them you plan on posting it to your website and then get it up there as soon as they give it to you. This will make them feel proud to see their review on a site and will also give them something to refer people to in order to learn more about what you do and how you do it.

Get Reviews and Testimonials from the Right People Event planners can benefit from reviews from clients and attendees. But you can also receive persuasive reviews from vendors and people in the industry you’ve worked with. Anyone who has worked with you and benefited from your level of professionalism is a good ask. If you volunteered your services for an event, you can use them too.

There’s no easier way to get that review than to ask for it. Help them understand that you depend on word-of-mouth as a small business and it means a lot to you. There are very few people who will say no to an impassioned, yet humble, request. Just make sure you don’t ask when you’re delivering the bill. No one is in the mood for that.

Ask for Introductions and Pass it Forward This is one of the most awkward things for most event planners. It feels forced, but if you are confident in your services you should feel like you are giving each one of your clients an opportunity to help one of their acquaintances out by referring them to you.

Unless you ask you won’t receive. Always ensure that you “pass it forward” yourself too. If you bring business to your clients they will be eager to return the goodwill.

Be Yourself Be yourself, unless that self is standoffish and shy. In that case, be the opposite. But seriously, let the clients get to know you and open up to them. Don’t be just an event planner. Be THEIR event planner by connecting with them and caring about their lives as well. Someone who does more than just the service you hire them for is someone you want to refer to others.

People want to be helpful and refer others, but they won’t do it for just a mediocre experience. They want to shine in front of their friends and peers. If they have a great experience with you, they’ll gladly share, knowing they’re doing a service for their friends as well by introducing you.

Referral Incentives If you are struggling with natural referrals from busy previous clients then it may be beneficial to add a little more incentive. Offer your existing clients money off or discounts if they refer a friend and they are more likely to recommend you if they are getting something in return. For long-term clients or contracts, you could also offer discounted rates to their new referral as part of a loyalty scheme. The options for this are quite broad because you could base the incentives on the amount of work that they bring in and you may find that you need to do little else once this gets the ball rolling.

Know Your Demographic It is important to fully understand who you are trying to attract, what their preferences are and the best way to contact them. You will be looking to market your services in completely different ways if your demographic is 18-24 year olds compared to 50-60 year olds. Think about technology and social media, as well as more traditional marketing channels such as newspapers, leaflets and business networking.

Online Q&A Create a YouTube video or Facebook Live session where you answer frequent questions about your services so that people can put a face to the brand and make a more informed choice about picking you. You could simply sit and discuss topics that you have been asked (low/no budget) or you could invest in creating something which really shows off your brand and image if you have a little budget to play with.

Make a Package Bundling together various services can help to create a bigger sense of value to your client. Think about offering a simple package to entice more customers. Think carefully about what is and isn’t included though to ensure there is no misunderstanding. What opportunities are there to upsell the package?

Creative Sponsorship Sponsorship can help you increase your brand awareness and improve interaction with potential clients if done correctly. Sometimes you need to speculate to accumulate. Make sure you choose opportunities that are relevant to your audience and get creative so that you stand out from the crowd by showing why clients should pick you! As an event planner you might want to offer in-kind sponsorship – where you offer your services pro bono to run an event or a specific element such as the VIP lounge (instead of giving a financial payment). In return, you are listed and promoted as the sponsor and gain the perks that that brings.

Video Adverts Fewer people are watching live TV now and many are recording and skipping past the adverts. Not that TV adverts were probably ever within your budget anyway! Instead, make a video advert and share it via your social media accounts to your followers and potential clients. You could also use the video as a welcome or explanation of services when you get an inquiry. This is an effective way of showing off some of your projects and is much more engaging than an introductory email. Give it a go to see the difference in your client conversion rate.

Become a Guest Speaker As an eventprof you have a lot of expertise and experience that others want to hear. Some of the best ways of showing what you do is to discuss it and show them exactly how competent you are. Attend events as a guest speaker and you can discuss the problems that your services fix and deal with! The key here is to offer value within the talk itself, give good advice on the day and encourage potential clients to come to talk to you afterwards. Your professional knowledge is that carrot enticing people to come and strike up a conversation with you.

Host a Giveaway Everybody loves free stuff, and hosting quality and interesting giveaways is a quick way to get people involved and aware of your brand. It goes without saying that the more valuable and desirable the prize the more awareness and potential leads you will get but it is important that when using giveaways to attract clients, that you make the prize relevant to the services you’re offering. For example, you could offer taster sessions, event workshops or some of your services for free so clients know what they are getting and you know those that are entering are the “right” people.

Make Use of Trade Shows If you have the budget to participate, a trade show can be great for networking success, brand positioning and sales. Exhibitions bring buyers and sellers from your industry, or local area, together which means you have a good chance to meet long-term potential clients. Try to be innovative, stand out from the crowd and draw attendees to your exhibition stand to better your chances. Most importantly though make sure that you follow up on any promising leads promptly after the event, otherwise, your investment will be worthless.

Create Your Own Leads Sometimes clients are not always forthcoming and you need to proactively go out there and find them yourself. One of the ways to do this is to use platforms that have a lot of business information about people, for example, LinkedIn. You can see the company’s that you want to appeal to and their HR, PR or management department representatives and contact them directly for a more personal and innovative approach. This also helps to connect you to similar people that may help your business too, for example, new suppliers.

Hashtags There is a plethora of information on social media and it can be hard to get noticed without having to pay for adverts or to get your message out. Using popular and relevant hashtags on social media can be an easy way to get in front of potential new clients. Twitter chats can be a great opportunity and some chats are based on geographical location while others are based on different expert topic areas and interests. Keep your content and hashtags relevant and you might find that a retweet or share turns into a bigger opportunity. Resist the urge to do the hard sell on social media though. Focus on being genuine and striking up real conversations and relationships.

Business Cards Whether you still favor traditional paper business cards or have gone digital make sure you always have your details to hand for easy sharing. With more and more people storing their cards on their phone they are less likely to take and keep a business card, so have both options available if you can. Include social media details as well as traditional methods of contact.

Creative Partnerships Do you have a non-competing business that would work well with your own? Approach them to create great package rates that help you both. You can offer to refer to one another with paid incentives for referrals or even special rates of advertising in their shop or website. Clients want to know that they can get everything fairly easily and joining forces with other businesses helps to add value that can benefit everyone.

Talk About Your Business Every day let people know about your business and services. You would be surprised how little other people pay attention to your life, do your friends and family know and understand what you do? Would they recommend you? Getting clients can sometimes start at home by building your network outwards. There is a lot of event and client potential there, so make sure that you are the first person who pops into their mind in the circles they move in.

Business Deals Promotional offers and deals can get new clients in the door to show off your products or services and get them hooked. Some of the more successful deals prompt new clients into action straight away such as “limited time only” or deal limits such as “free consultation to the first 5 people to call/email”. This gives them more incentive to act and creates more of a buzz for new potential clients.

Long-term Pricing A lot of your business may be one-off or short-term event projects but include a long-term incentive into your pricing structure to encourage your clients to think ahead and keep them coming back. This could be an improvement on rates for next time as a loyalty bonus, or offering a long term service such as managing and updating their event social media channels for their event for 12 months when the next project is confirmed. It is easier to keep a client than recruit new ones each time so this could be a winning strategy.

Online Help Increase awareness for event consultancy and management services by helping others online to answer questions. Using sites such as Quora or Clarity can allow you to create a profile to showcase to potential leads that you know what you are talking about. You can offer your services to provide consultations or resolve questions for users which increases brand awareness and proves you know what you are talking about. You can also improve your profile with portfolio elements and add reviews from previous users you have helped to improve your status and make you more reputable. If you fill out your complete profile with all of your services and previous history it will make users more likely to come to you.

Get Personal On a daily basis, people have their inboxes and phones flooded with ads, cold calls, spam and junk and they can spot it a mile away. If you are working on a client lead then do your research, treat every client like a VIP and you are less likely to be added to the SPAM folder. Know your audience and it will foster a long-term relationship rather than seeing you as “just another brand”.

Press Releases Get some press.

With the increase of technology, eventprofs often overlook sending out press releases but this is a missed opportunity to secure local or national media coverage. If you have something newsworthy create a press release and send it out to the right channels.

It’s important to know, the press won’t think you landing a big client is newsworthy, but if you can, share the story in a frame that interests them (like event planner gives back to cancer patients through hosting events they missed due to illness), they might just cover it.

Press Opportunities Follow the #journorequest and #PRrequest hashtags on Twitter for opportunities to share your expertise with journalists writing specific features.

Help a Reporter Out Register on specialist sites such as HARO (Help a Reporter Out) to enable you to provide insight and put yourself forward as a reliable source to secure yourself media coverage. Getting a quote in a major newspaper goes a long way to establishing yourself as an expert in your industry. It is important to remember not to underestimate the power of traditional press and the kudos and reach they bring when looking for new clients.

Brand Ambassadors Another opportunity for event planners to consider is blogs and websites that are read and respected by your target audience. Perhaps you could submit a guest post offering some top tips or be featured with an interview. High traffic blogs may offer sponsored posts, reviews, banner ads and other opportunities.

Associations Join an association and get to know other event planners.

Join a chamber of commerce or networking organization In-person networking groups allow you to make connections with your ideal clients and other professionals who can help expand your network. You never know who you might meet.

Create relationships with business organizations Volunteer for your local chamber. They throw a lot of events. They could just end up hiring you or if not, giving you a great referral.

Volunteer for a non-profit Volunteering allows you to give back, gain more experience and potentially find opportunities for paid work in the future.

Partner with other event vendors Can you offer a package with an AV company, event stylist or other vendor that compliments your event planning services? By working together you can add value and involve partners that can market the package to their own networks.

Follow-up with past clients Check in regularly with past clients. You never know what ideas it could spark or how often it leads someone to say “I was thinking about contacting you about an idea I have…”

Ask if they are in need of your services, could refer you to a friend, or write/record a testimonial for you on your services.

Work with Venues Contact local venues and get on their preferred partners list.

Plan an Event to Show off your Skills If you want to attract more corporate clients set up a free business networking event to show off what you can do and bring together people who may want to talk to you.

Be a Mentor Just because someone is on the lower rung of the career ladder does not mean they are lacking in connections. Just don’t make your business the only reason you’re mentoring.

Partner with large event planning firms Large players in the industry will often pass on projects that are too small or don’t fit their ideal client spec. Ask them if they might refer them to you instead.

Make Proactive Approaches Contact companies with user conferences and ask them if they’ve thought of outsourcing the work. Be ready to break down the costs of doing so.

Industry events Go to trade shows or conferences that your ideal customer would attend then network like crazy.

Co-working Opportunities Contact your local co-working space. A lot of budding entrepreneurs have a need for event planners on a freelance basis. The co-working space itself may need one.

Free Consultations Offer a free consultation or a 15-minute planning walk-through of suggestions. Sometimes people just need to be pointed in the right direction and realizing the enormity of planning an event and their lack of experience might just get you the job.

Meet Small Business Owners Network with other event planners. Independent business can be filled with ups and downs when it comes to clients. Sometimes you have so many you need to turn them away, other times you wish you had some. Partnering with other event planners allows for recommendations in the case of overflow situations and vacations. Be prepared to do the same for them – pass on extra business when you get to that point.

Create a Course Create a course on UDEMY to showcase your planning skills.

Affiliate Marketing and Incentives Offer a referral bonus for past clients who refer you to new ones. Create an affiliate program with other vendors, software providers, or venues. Give free new client consultations to existing clients to give out to friends and colleagues.

Become an Official Event Partner If you have a large corporate client, inquire about how other departments in that company handle their events. Ask to be introduced to people who might benefit from your services. Look for ways to save the company money by becoming their “official” event planner.

One-stop-shop Connect with technology providers in the event planning space. This may seem like a far stretch but as companies are trying to differentiate themselves from others, they may want to become a one-stop shop for their customers. If a customer approaches them about software and also finds they need event planning, that company may be in a position to give them your name.

Get Known Contact companies with internal event planners and see if they are ever in need of short-term, consultant solutions. For instance, their event planner may be out on maternity leave and you could fill in. They may not think they need that sort of assistance but then a surgery or other temporary work issue comes up and guess who they’re calling?

Go Live Go live on Facebook. This video creation option expands your reach and you’re able to connect with people who may not usually see your content.

Speak at Business Events Speak at the chamber or other organizations whose audience could be comprised of people who would be interested in hiring an event planner. You most likely won’t be able to pitch your own services but the exposure presents you as an expert. They will likely mention your business in the intro or at the end. Ideally, your contact info would be provided so that people can follow up with questions.

Create a Follow Up List Don’t give up on leads. If someone contacts you for more information but doesn’t respond when you give it to them, reach out periodically with help and resources. They may still need you but have been too busy to respond.

Identify Ideal Clients Search connections of your past clients on LinkedIn that would fit your ideal client profile. Either ask your client for an introduction or reach out directly and mention you’ve worked with X in the past.

Build your LinkedIn Profile Rework your LinkedIn profile to detail the types of events you specialize in. If you turn up in searches more often, you’ll get more leads.

Thought Leadership Post industry thought leadership pieces that attract attention. Be controversial.

The Business Story Rewrite your website to include your story.

Email Signature Invite people to book their event with you on your email signature.

LinkedIn Groups Participate in LinkedIn groups for your industry niche. Do not sell your services, just ask questions, comment and be helpful to get noticed.

Get Social Create social media profiles on sites that cater to your ideal client. Post actively on these sites with helpful information and not sales messaging.

Paid Social Media Ads Run a social media paid ad campaign.

Retargeting Use Google retargeting to bring visitors back to your website.

Website Redesign Redesign your website with a fresher look.

Blogging Create a blog and post to it on a regular basis.

LinkedIn Pulse Post to LinkedIn Pulse.

Ebook Write an ebook, downloadable checklist, and/or a playbook for a successful event. Make it available on your website as a free download.

FAQs Create a FAQs page on your website using valuable keywords.

Tracking Get technology that helps you understand who has visited your website and where they went. Then create a content strategy based on what you see them doing.

Checklist Create an interactive checklist to help people plan different types of events and host it on your website.

Online Community Start an online community that fits your niche. For instance, companies that host events may need resources to help them do it. Be helpful and when they decide there’s no value in doing it in-house anymore, they’ll think of you.

Guest Blog Guest blog on a site that will be read by your ideal demographic.

Local Search Results Improve your SEO organically or through paid options. Just make sure that you are concentrating on local search if that’s who you work with.

Email Marketing Create a cold email campaign of people who employ event planners in your niche.

Social Search Search on social media sites like Twitter, Facebook, and LinkedIn to see who is asking about hiring an event planner.

Google Alerts Create a Google alert or use Mention to find people talking about keywords that matter to you.

Pinterest Create Pinterest boards as portfolios for your work or to capture your event visions. When people contact you, they have an easy way to see your past events.

Reviews Check out your reviews on review sites. If you have an office, you may have reviews. Make sure you know what’s out there. Respond to everyone who leaves you a review, even if the review is less than stellar.

Facebook Reviews Ask former clients to leave you a star rating on your business Facebook page.

Use Your Personal Network Share your business content with your friends and family on Facebook. Often people don’t realize what we do. When they know, they may bless you with referrals.

Different Service Levels Create multiple levels of service for potential clients. In economic downturns, people may not host as many parties or events. You need to safeguard yourself against these economic ups and downs by creating something even those with small budgets could use. This could be a product like an ebook on how to plan an event on a budget or offering a consultation-only service where you tell them how to do it in a consultative role but are not involved in the actual planning. These low-end budget clients may eventually convert to full-cost paying clients when the economy picks back up. But if they don’t you have found a source of revenue that requires very little effort on your part.

Drip Marketing Launch a drip marketing campaign to nurture leads until they are ready to make a decision.

Handwritten Note Take up the art of the handwritten note. Use them for thank you’s, introductions, referrals, and more. Your communication is bound to stand out.

Industry Article Write an article for an industry magazine, one that will be in the hands of your ideal customer.

SlideShare Create a SlideShare deck. SlideShare has a wide audience. Sharing your content there is another way to position yourself as a thought leader and expert in event planning.

Case Studies Create a case study of work you’ve done with past clients. Don’t just share how you made them feel but what you did for them from a number’s perspective. Use stats and revenue whenever possible but ensure your client is okay with airing those stats.

Gain Respect from Peers Share others content. When someone shares your content, you get notified of it. The next thing you do is visit that person’s page or profile. It’s a good way to get them to pay attention to you, if only for a minute.

Comment Along those same lines, comment on their content. This will help you build a relationship with them.

Round-up Posts Create a round-up post and include the content from someone you want to build a better relationship with. They’ll appreciate the share.

Opinion Piece Give your opinion on a blog post someone else wrote. Don’t be contrary but giving your view (or supporting theirs by adding to it) can help create a relationship between you and the author. When selecting the blog post, it’s best to choose a post written by someone who you would love to have as a client.

Creative Business Cards Have a business card that stands out. Whether you design it to stand out or it serves another purpose like a USB card or a business card that contains flowers seeds, find a way to stand out from the competition. This is a good idea because potential clients want to know an event planner is creative. A creative card will get their attention and make them believe that you can create a memorable event for them.

Work on Your Ideal Client Personas Work on your ideal client personas and then rework your marketing message to better appeal to your ideal client.

Network Online and Off Join a networking group, in person or virtual, preferably both. Be helpful, don’t sell.

Increase Your Digital Marketing You must have a professional website, social media presence (don’t forget the visual sites like Pinterest and Instagram), and a blog. These are no longer optional. They act as a front desk/receptionist even when you’re not “in” the office.

Provide Resources Create downloadable resources for clients and potential clients. If you’re worried people will use the resource instead of your services, you’re not providing enough value. Make these resources free for the cost of an email.

Build Your List Using the step above as well as subscribers to your blog and visitors to your site, give people the opportunity to stay connected with you through a newsletter. This will keep you top of mind and build your reputation in the industry.

Do Guest Posts or Podcast Interviews There are plenty of fledgling blogs and podcasts. People are always looking for content and guests. You won’t get paid but it will help get your name out there. Just make sure that you agree to do these things only for blogs and podcasts that appeal to your ideal client.

Participate on Social Media “Participate” does not mean drip (only) your content. Participation means active conversation. Yes, content is good but interactions are what will bring new clients to your virtual doorstep. Try participating in Twitter chats and reading other people’s blogs and commenting meaningfully on them. Remember that ideal client? Find them on social media and get to know them.

Always Follow Up Most people fall flat in this area so it’s easy to stand out. Follow up on referrals, comments, events, compliments, suggestions, contact forms, and any form of communication.

Client Feedback Surveys

Use post-event surveys not only as a way to improve but also as a way of engaging clients and creating a source for testimonials.

Educational Content

Create content that helps your client whilst presenting yourself as an expert in the field. Become your clients’ go-to for anything related to events.

Competitor Analysis

Use competitor whitespace analysis to work out what makes you different from your clients and focus on selling the things you can do that they can’t.

Highlight Innovation

Look for opportunities to highlight where you’ve used innovation to the benefit of clients. This shows that your finger is on the pulse and you have the necessary experience to put new ideas to work.

Send a Thoughtful Gift If you really want to make an impression with someone you want to work with send them a small gift. It doesn’t have to be anything flash, but ideally something thoughtful that they will appreciate. Of course, it doesn’t guarantee they will award you a contract but it guarantees that you are memorable to them.

Important Final Advice for All New Business Owners

One of the best things about being a business owner is that you don’t have to answer to anyone. Unfortunately, one of the worst things about owning your own event company is, also, that you don’t have to answer to anyone. Why? Because there is no one to stop you from getting in your own way.

When you work for a boss, and she sees you spending too much time on floor plans, which she can have her assistant do, and not enough time on meeting new clients, which is your top priority, she can haul you into her office and set you straight. “I don’t care how much you like doing floor plans,” she says, “the company needs you out in front of clients.”

But when you’re the boss, there’s no one to call you out and deliver the tough love message. And so, without any oversight, you spend even more time on floor plans than you would with a boss looking over your shoulder. When you wonder at the end of the year why your business didn’t make more money, despite all the successful events and happy clients, there’s a decent chance this is the reason.

Companies that have been successful at breaking into higher and higher levels of growth tend to be very good at policing how they allocate their time, particularly the time of the senior people. Too often, however, business owners gravitate to their comfort zone, which is usually not where your company needs you to be.

That’s the Entrepreneur’s Dilemma: the freedom from having a boss which is so enticing can also be the roadblock to your company’s growth.

How Do You Get Around This?

The first step is understanding where your company needs you the most. A good rule of thumb is listing the various tasks that need to be done, and assigning an hourly rate for what you’d have to pay someone on the outside to do that work. You as the owner should be spending the bulk of your time at the highest level tasks, whether it’s sales or design or managing your team. The lower items should be delegated to someone who can do them at a much lower rate.

Be Accountable

The next step is acknowledging that many people find it quite hard to police themselves, so you need an outside force. A mentor or consultant can help with this, but an often overlooked resource is your own staff. Whether it’s your partner (if you have one) or your assistant (or virtual assistant), enlist them in your efforts. Tell them, “I need to be focusing on the following areas to best grow the company. If you see me spending time on another area, and you’ve got it under control, let me know, as a polite reminder.”

Sounds goofy?

Maybe, but I’ve done it and it works.

In the beginning, people were hesitant to say anything, but I would catch them fidgeting and ask them what was going on. They’d respond, “Um, you remember when you told us to tell you when you were involved in one of those things that are not on your top priority list, and we should tell you when we have it under control? Well, um, we’ve kind of got this under control.”

There are only so many hours in the day, and before you think about borrowing or raising money to expand, make sure that your time is allocated to the highest possible uses that benefit the company. As strategies for growth go, this is the low-hanging fruit.

IN CONCLUSION

Starting an event planning business can be daunting and overwhelming as there are a lot of things to think about and decisions to make. If after reading this post you are just as passionate and determined as before then we encourage you to follow your dream and don’t look back.

We hope that you are feeling inspired now you have 100 new ways to get more clients but the trick is, of course, keeping them and making sure they stay loyal. Ultimately, focus on doing a good job, offering a great service and experience to your clients and they will come back again and again and recommend you to others too.

Now onto you:

• Do you have a tip to make this page better? Or an idea to add to the idea engine for how to attract more business? Send an email to [email protected] .
• Do you have more tips and advice to add about starting an event planning business ? Comment below.
• Do you have a colleague who may benefit from reading this page? Share it with them.

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Learn what it takes to become a Event Manager in 2024, and how to start your journey.

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Gain relevant education, develop essential event management skills, gain practical experience in event planning, build your professional network, create a portfolio of your event work, stay informed and continue learning, typical requirements to become a event manager, educational requirements and academic pathways, building experience in event management, key skills for aspiring event managers, additional qualifications for a competitive edge, alternative ways to start a event manager career, transitioning from hospitality or customer service roles, capitalizing on creative or design experience, utilizing organizational skills from administrative roles, education and certification focused approach, how to break into the industry as a event manager - next steps, faqs about becoming a event manager, how long does it take to become a event manager, do you need a degree to become a event manager, can i become a event manager with no experience.

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How to Start an Event Management Company If you have the knack for putting together an event, connecting with people and arranging talks and pitches, then you might want to consider starting an event management business

By Shreya Ganguly • Jan 17, 2020

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

We all have participated in events at some point, be it large scale or small scale, personal or professional. While the participation is fun and enjoyable, organizing one requires a lot of effort. Venue hunting, inviting the guests, arranging for logistics, food, etc takes a lot of time. This need has opened up huge business opportunity in the event management space in India.

According to EY-EEMA (Event and Entertainment Management Association) report, the Indian events and activation industry is expected to cross INR 10,000 crore mark by 2020-21. The report revealed that the industry was at INR 5,631 crore in 2016-17 and has been growing at a 16% CAGR.

Businesses share an important bond with the events management space as holding big scale conferences, workshop, pitches take a huge amount of work. If you have the knack for putting together an event, connecting with people and arranging talks and pitches, then you might want to consider starting an event management business.

How To Get Started

Sandeep Lodha, CEO, Weddingz.in explained that it is very important to understand that events are extremely important for the organizing brand. Events bring in connections and partnerships on the table, it is also a big source of marketing for the brand. So if you are looking to start up their business in this space, you need to genuinely identify a problem existing in the space and retrofit a methodology to solve the problem.

According to Mazhar Nadiadwala, Managing Director, Dome Entertainment, these are some important things to keep in mind before you start up:

• You need to create a robust business plan with a strong vision
• You should understand your niche and define your core competencies,
• Make sure to have a marketing and PR Plan
• Create different proposals or pitches for your prospective clients and vendors – Elevator pitches, pitches for occasional meets, pitches in conferences meet etc.
• Start networking and meet groups and institutions who can give you some business
• Focus on hiring good managers who believe in your vision.
• Keep in mind, you need to start small, go big

Investments

If you are worried about investments, then rest assured because you can begin your events management business with low monetary investment. To get started all you need is a good laptop, which can cost up to INR 35,000. Major investment will be a strong team comprising of 5-6 skilled workers, which will be your recurring monthly cost of INR 1-1.5 lakh. According to Ruchi Garg, CEO and co-founder of Venuelook, you will also need a working capital investment of around INR 1–3 lakh per month to take care of running costs. However, the costs may differ depending upon the kind of event services you are offering.

Once you start getting clients, you may go out for raising funds for scaling up your services.

We recommend that you reinvest at least 10 per cent of all receipts back towards capital goods required for events as it is a good way to consolidate the business in the first 10 years of operations.

According to experts, for any event management company, the basic revenue is generated from the agency fees which generally range between 10-20 per cent depending upon your negotiation with the client. Apart from this, the revenue generation depends upon the type of event and the kind of services offered.

If you are only helping in co-ordination, you can charge good agency fees. But if you are the one completely responsible for the production and overall execution of the event, you might also hike up the price of the equipment and materials needed for the event, which will generate more revenue for the company. The range may change depending on the field of event one specializes or depends on the clients willingness to spend.

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A Must-Know Guide To Corporate Event Planning

Events in a corporate environment are often staged to communicate company strategy, change internal company behavior, launch a product or service, motivate, train or reward staff, or influence the external behavior of customers towards the brand.

In many instances, they bring company employees together, support wider marketing or sales initiatives, incentivize team achievements, or entertain senior leaders.

What is corporate event planning?

Yet, corporate event planning goes beyond meeting planning. Although conferences and meetings may form the lion’s share of the workload, other events you may be asked to organize include corporate hospitality, client entertaining, conventions, exhibitions, and employees events—such as incentive travel reward programs, team building, motivational events, receptions, parties, and charity fundraising days.

Planning and executing a successful corporate event is no simple task. It’s typically a months-long process consisting of several stages and a variety of organizational steps.

To help you navigate the business of corporate event planning, here is everything you need to know:

• Types of Corporate Events

Event budget

Event objective, venue sourcing, event marketing, attendee engagement.

• Corporate event planning checklist

Types of corporate events

As outlined above, corporate events can range from company conferences and internal training seminars to team away-days and client hospitality. When planning for any type of corporate event therefore, it’s best to assess them in terms of their size.

Micro events  (otherwise known as ‘simple events’) are planned for up to 100 delegates and often take the form of meetings or more intimate training sessions.

The planning requirements for these micro-events may simply involve a room booking, presentation facilities, break-out refreshments, and registration. However, referring to them as ‘simple events’ can be misleading, as an away-day or hospitality for 50 senior managers can be as complicated as planning a conference for 500 attendees.

Small events  are classed as between 100 and 250 delegates. They could be seminars, training days or departmental conferences.

Planners may need to manage a main stage itinerary and several break-out sessions, along with lunch, refreshments, audio-visual facilities, online registration , and transport.

Midsize events  rely more on technology. They could be company-wide conferences for up to 1,000 delegates or leadership summits for important client customers to meet with senior leaders.

A branded website, pre-event communications, and an event mobile app should all form part of the budgetary considerations. Delegates may require hotel accommodation, plus transport which takes attendees to and from the venue. While a pre- or post-event reception or evening entertainment may be required as part of a complex multi-stream conference itinerary.

Large-scale events  often require enterprise technology tools to manage elements such as hotel room bookings, delegate flights, budgets, and online registration.

These may be multi-day events so you could need offsite activities, dinners, partner programs, an awards ceremony or other complex itinerary planning.

Staffing, catering, registration, speaker and delegate management will all need to be carefully planned at scale. Conventions, for example, can attract anything up to around 10,000 attendees and can last a few days.

The amount of available budget can impact every aspect of corporate event planning, from the choice of venue and speakers to the levels of catering, entertainment, technology, and staffing.

Decide if your budget has outgoings only, or will you be able to supplement it with income from exhibitors, sponsors or other forms of external revenue?

Has this event happened in the past? If so, use the previous budget to establish a baseline but ensure that inflation and evolving needs are taking into consideration.

Figures from past budgets are useful in providing a clearer picture of how much certain suppliers will charge. Use these to ensure you are not being over-charged when you reach out to suppliers for initial quotes.

Every event budget, however, needs built-in flexibility. Unanticipated expenditure is common and supplier costs are often provided as estimates, rather than fixed prices, so it’s vital that an overall budget is managed accordingly, and a contingency fund is in place.

Once you’ve sourced supplier costings, make a comprehensive list of all the budget line items in the event lifecycle, including venue hire, AV, food, and beverage, accommodation and travel, speaker fees, staffing costs, marketing and service fees.

For larger or more complex budget planning, look into corporate event management software suites, which include a dedicated  event budget management  tool. This will ensure accurate collection of your budgetary information, help you track expenses easily, generate budget reports, and demonstrate the ROI of your event.

‘What is the event’s objective?’ This should be the first question you ask when a corporate event is requested. By gaining a deep understanding of the deliverables that key stakeholders are hoping to achieve, it’ll allow you to plan more effectively and communicate your ideas in a language your bosses will understand.

Once you’ve understood whether the event’s aim is, for example, to build brand awareness, communicate business strategy, reward and motivate, or launch a new product or service, you can then set goals, put the right metrics in place to track results, and determine who the attendees will be, along with their expectations.

When you have well-defined goals and objectives for your event, planning, promoting, and sticking to your budget all become much easier.

Event objectives should be SMART

• S pecific: What is the desired outcome and when does it need to be achieved by?
• M easurable: Return on Investment or Return on Objectives… or both?
• A chievable: Ensure that the event objective is something that can actually be achieved otherwise senior leaders will consider it a failure.
• R elevant: The overall objective needs to remain something that relates back to the company’s goals throughout the entire planning process.
• T imebound: Plan for the event objective to have been achieved between two time periods. This may require subsequent training seminars or a follow-up event to assess the outcomes of the first.

The event’s objectives may also determine your choice of venue. If stakeholders are looking to leave a lasting impression on valued or prospective clients, for example, the venue will need to play its part and deliver a memorable wow factor.

Other factors that will influence your venue choice include budget, capacity, location, availability, and logistics. Having a clear understanding of these event requirements will allow you to shortlist a number of venues, send out requests for written proposals (RFPs) and arrange site visits.

Some venues offer seasonal pricing, so the hire cost may be lower during certain times of the year. Find out what the costs are for your venue of choice on your desired date. If your dates are flexible, you may be able to secure a better deal at your preferred venue.

If your event has a short-lead time, keep an eye out for last-minute venue offers as there are often great deals to be found. If you’re planning an event that’s a long way off, consider those venues undergoing refurbishment or not yet opened. They’ll be eager to secure your business and may be able to negotiate more favorably.

Three steps to venue sourcing

Step One: Find Venues

• Know the meeting objectives and requirements. By determining these at the outset, you’ll decrease the search process.
• Take into account feedback from attendees. Is this an annual event? If attendees ranked the venue from the previous year poorly, look at the feedback to pick a venue that will resonate better.
• Don’t feel alone. Reach out to your team, or others that have a stake in the event to brainstorm what factors are most important.

Step Two: Write the perfect RFP

• You already know general objectives and requirements – now define your purpose. Make it clear what this event requires and hopes to achieve.
• Get detailed. Give as much information about the event as you can.
• No one likes to discuss money, but you need to share your budget requirements. The venue is one of the largest costs of an event and can make or break your budget.
• Make your deadlines clear. Give a date and time that provide venues enough time to respond.
• Don’t start from scratch. Pull a template the internet.
• Be ready to answer any questions venues may have about the proposal or event.

Step Three: Send and evaluate proposals

• Using a  venue sourcing tool , you can search and filter venues and send one RFP to multiple venues at once.
• Assess proposals via the chosen venue sourcing tool or by manually importing data into a spreadsheet
• Create a list of any factors that are less concrete – the qualitative factors.
• Pay close attention to meeting rooms – do the sizes and layouts make sense for your event?
• Compare how responsive and helpful the venues are to help figure out how helpful they’ll be if you choose them.

Now go on some site visits. You should be in great shape at this point. You have proposals, you know that the spaces you’re looking at are within budget and have the spaces you need, now you can look in person .

By building a marketing campaign around your event, attendees and stakeholders will feel more invested and involved. It will also allow you to communicate key instructions and announcements, safe in the knowledge that your audience is already engaged.

Event marketing assets include teaser emails, social media channels, a branded website, and a mobile event app . You may also wish to design and create posters, flyers, pin-badges, and other accessories to keep the event front-of-mind and anticipation high.

A customized pre-event website will showcase event highlights and build on the notion of ‘experience’ before attendees arrive. A website can also be used to streamline the registration process and create a one-stop-shop for accommodation or transport booking.

The design and usability of your event website will be crucial to the success of your event, so make sure you pay special attention to how it is  designed and built .

With the latest corporate event management software solutions,  creating a custom event website  has become easier than ever. There is no technical expertise required, and you certainly don’t need to learn HTML. With a simple drag-and-drop tool, you can  build a complete website from scratch .

A branded mobile event app meanwhile will allow attendees to view the agenda, receive notifications of scheduling updates and plan networking. It will also enable you to signpost attendees to important information like the venue Wi-Fi password, sponsor information, local hotel details, or session sign-up pages.

On-site advertising should also be included in your marketing plan, which includes signage, banners, flyers and brochures, and other event collateral.

According to a  survey by Cvent and Edelman Intelligence , attendee expectations and needs differ significantly on the basis of their persona, age, and region.

For example, the event expectations for a Millennial from the UK could be entirely different from a Baby Boomer from Germany. To deliver a unique and engaging experience for every attendee, you need to have a solid event management plan in place, supported by a strong digital strategy.

If a corporate event cannot generate engagement, it will impact the attendees’ ability to retain information.

The human attention span has reduced significantly in this mobile-first, digital era. As a result, event planners have needed to move away from ‘death by PowerPoint’ presentations to more innovative session formats that avoid information overload.

Using the right event technology tools, implementing feedback strategies like live polls, reconciling goals and expectations, and staying authentic should all be top priorities.

Plenary sessions should be designed for delegate participation. To do this, find more engaging speakers, use live polling, real-time Q&As, table discussions, and other methods of keeping engagement high and attendee attention focused.

Conference breakouts should be designed to provide targeted and truly interactive content for your audience. A common event planning pitfall is to turn them into mini keynotes.

Two popular formats for breakouts are:

Breakout sessions:  This format is generally used for conferences or sales rallies and offers participants an opportunity to delve deep and explore a topic of interest.

Breakout groups:  Pairs, trios or small groups of up to 12 participants work together to brainstorm, complete a business exercise or analyze a specific business issue. Breakout groups are also used for skill practice during training and development programs, as well as projects during team building sessions.

Coffee and lunch breaks meanwhile should be designed for networking. So, consider ice-breakers, buffet stations and other free-flowing formats and activities to get people talking.

A strong digital strategy will build a sense of community before and after the event. Online communities can be formed via social media platforms or by ensuring that your event app is available well in advance and includes built-in social features.

The week before your event is crucial for building attendee engagement for your event.

In order to keep the energy and excitement going, create a unique countdown in the form of emails or website updates, with engaging content such as quiz contests with attractive awards, a preview of the main keynote speakers or any number of other possibilities.

The big four types of attendee engagement

1) Engaging with content:  This means giving attendees the right sessions, exhibits and other activities to maximize learning and the value of their attendance.

2) Engaging with each other:  For many, networking is the primary reason for attending an event. By creating networking opportunities — whether face-to-face or virtual, one-on-one or in groups — planners can encourage and facilitate networking and create a more valuable experience for attendees.

3) Engaging with sponsors:  If you’ve sold sponsorship at your event, then those paying customers will be looking for real connections with the right kind of attendee — rather than just signage.

4) Engaging with you:  Communication is a two-way street, and as the event organizer you’ve got to effectively communicate with your attendees — whether for promotional, consultative or logistical purposes.

Virtual Meeting and Event Planning

Not all corporate events need to be in-person. Virtual meeting and event planning is a great choice for these types of events. If you decide on a virtual event , you will need to ask yourself a few questions. Are you planning on a more collaborative environment? Does your technology allow you to do this? And if it's a virtual event, do you want it to be casual or formal? Is the content engaging? And does your technology support networking opportunities? While the planning process doesn't vary much from in-person to virtual, the main difference will be in the production and presentation of your content, as well as the virtual technology used.

Corporate Event Planning Checklist

Use these 21 action steps, together with the aforementioned best practice advice, to ensure effective and successful corporate event planning.

• Determine the overarching goal and the primary objectives you intend to meet by holding this event.
• Identify the audience to determine the event’s tone of voice and what takeaways they’ll expect.
• Agree on how the event fits into the overall company strategy. What are its long-term objectives?
• Make a comprehensive list of all the budget line items in the event lifecycle.
• Appoint a planning team and allocate responsibilities.
• Establish a schedule for planning meetings.
• Decide on the date(s) when the event will take place.
• Prepare a preliminary budget based on historic costings and supplier quotes.
• Create a list of venue requirements.
• Compare venues and negotiate.
• Plan the event layout.
• Secure speakers.
• Develop and activate an  event marketing plan .
• Prepare an event timeline allowing adequate time between sessions and activities for transitioning, as well as for any potential delays or technical difficulties.
• Reserve accommodation and transport requirements.
• Plan menus for meals and refreshments, taking dietary needs into consideration.
• Prepare and print event collateral.
• Confirm or recruit event staffing.
• Rehearse speakers if required.
• Follow-up with speakers and attendees post-event to thank them for attending and provide key takeaways.
• Conduct surveys, secure feedback and collate final costings for future reference.

Mike Fletcher

Mike has been writing about the meetings and events industry for almost 20 years as a former editor at Haymarket Media Group, and then as a freelance writer and editor. He currently runs his own content agency, Slippy Media, catering for a wide-range of client requirements, including social strategy, long-form, event photography, event videography, reports, blogs and ghost-written material.

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The event management industry in India is a thriving market, catering to a large and diverse population with a year-round calendar of cultural events. Given the constant demand for event management services, starting your own event management business in India can be a lucrative opportunity.

To help aspiring entrepreneurs navigate the process, this article provides essential insights into the key considerations for launching an event management business in India. From legal requirements to target markets and competition, we’ll guide you through the necessary steps to set your event management business up for success.

How to Start Event Management Business in India

Conduct market research.

Conducting thorough market research is a crucial step for any entrepreneur looking to start an event management business in India. It involves assessing the demand for different types of events, including corporate, social, and cultural events, in your target market. To gain insights on customer preferences, conducting surveys and focus groups can be effective methods. Additionally, analyzing the geographical location and seasonality of events can help determine the best times and locations to hold them.

Another critical aspect of market research is identifying the appropriate pricing strategy for different events, ensuring profitability while remaining competitive. By conducting comprehensive market research, you can gain a deeper understanding of the industry and make informed decisions about the direction of your business. As an entrepreneur, it is crucial to conduct extensive research to identify opportunities, gain valuable insights, and make well-informed decisions, ultimately leading to a successful event management business in India.

Create a Business Plan

Creating a sound business plan is crucial for laying a solid foundation for your business , especially when starting an event management company. With the right plan in place, you can set your company on a path to success. A comprehensive business plan should establish your mission, vision, and values, define your target market and customer personas, and include a SWOT analysis to evaluate your business’s strengths, weaknesses, opportunities, and threats.

This analysis will guide your decision-making and help you develop strategies to manage risks. Additionally, it’s essential to set SMART goals that are specific, measurable, achievable, relevant, and time-bound to remain focused and track your progress over time. By investing time and effort into developing a robust business plan, you can gain a clear understanding of your business objectives and strategies, and create a roadmap for sustainable growth and success.

Register Your Business

When it comes to starting an event management business in India, registering your business is an essential step that can help establish credibility and legitimacy. This involves choosing a unique and memorable business name and logo that will resonate with your target audience and help differentiate your brand from competitors. Additionally, selecting the appropriate legal structure such as sole proprietorship, partnership, or private limited company can impact your liability, taxes, and other legal obligations.

Obtaining a PAN (Permanent Account Number) and GST (Goods and Services Tax) registration is also crucial to comply with government regulations and ensure smooth business operations. Finally, applying for insurance coverage for the business and employees can protect against potential risks and liabilities.

Build Your Team

Building a competent team is crucial to the success of an event management business in India. To ensure that your team is well-equipped to handle the demands of your clients, it is important to hire event coordinators, planners, designers, and technicians who possess the necessary skills and experience. This can involve creating detailed job descriptions and employment contracts that clearly outline the roles and responsibilities of each team member.

Additionally, conducting thorough background checks and interviews can help you find the best candidates for each position. Once your team is in place, providing ongoing training and development opportunities can help them stay up-to-date with industry trends and techniques, and improve their performance on the job. By building a strong and reliable team, you can establish a solid foundation for your event management business and ensure the success of your events.

Promote Your Business

When starting an event management business in India, it’s crucial to prioritize promoting your brand in order to attract new clients and build a reputation in the industry. One effective approach is to develop a content marketing strategy that highlights your brand’s expertise and creativity. This can involve creating informative blog posts, engaging social media content, and visually appealing case studies that showcase your event planning capabilities.

Additionally, offering referral incentives and loyalty programs can encourage clients to spread the word about your business and keep coming back for future events. Participating in industry events, trade shows, and conferences can also help build your reputation and establish valuable connections with potential clients and partners.

Finally, collaborating with complementary businesses such as caterers, photographers, and florists can enhance the overall experience for your clients and lead to more referrals and repeat business. By implementing a comprehensive promotional strategy, you can increase visibility and attract a wider range of clients to your event management business in India.

Financing Your Business

Establishing an event management business in India requires strategic financing to set it on the path to success. Researching various financing options is critical to determining the most appropriate approach for your business requirements. Personal loans, equipment financing, and lines of credit are among the popular options to consider. Evaluating the interest rates, fees, and repayment terms associated with each option can guide you towards an informed decision.

Additionally, crafting a comprehensive financial plan and projection for the business is essential for securing funding from investors or lenders. Your plan should highlight the anticipated expenses and revenue projections, as well as demonstrate your capacity to repay the loan. Building a solid credit score and maintaining financial discipline are crucial to securing future financing. By carefully considering your financing options and creating a solid financial plan, your event management business can be well-positioned for success.

Final Thoughts

Starting an event management business in India can be a challenging but rewarding experience. By following the steps outlined above, you can establish a strong foundation for your business and set yourself up for success. Remember to stay focused on providing high-quality services and building strong relationships with your clients and vendors. With hard work and dedication, you can turn your passion for event planning into a thriving business that makes a difference in people’s lives. So go ahead and take the first step towards your dream – who knows where it might lead?

Shiv Nanda is a financial analyst at MoneyTap who loves to write on various financial topics online. He also advises people on financial planning, investment choices and budgeting skills, and helps them make their financial lives better.

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The business of sports encompasses teams at the major, minor, collegiate, recreational, high school and youth levels, as well as sports events, facilities, sponsorships, tourism, and specific legal issues. The minor in sports business equips students with the framework for strategic decision making in sports marketing, promotions, media/public relations, and a selection of other relevant industry issues tailored by the student’s elective selections.

♦  Indicates prerequisite.

These prerequisites are not included in the program totals in the table below, but they must be completed IN ADDITION TO other program requirements.

Requirements for Minor (18 credits)

Core requirements.

• MKT 205 Principles of Marketing (3 credits) ♦
• SPB 200 Rivalry and Rituals: International Sport - SB (3 credits)
• SPB 305 Sports Marketing and Events Research (3 credits) ♦
• SPB 307 Moneyball: Economics of Sports & Events (3 credits) ♦
• SPB 350 Revenue Generation in Sports and Events (3 credits) ♦
• MKT 310 Selling Skills (3 credits) ♦

One 300- or 400-level SPB course (3 credits)