Business Idea

Event planner business idea

Event planner business idea
Event planner business idea

Do you dream about hosting perfect events? Are you such kind of person who enters an event,
admires its decor fascinating as to how you would have done things in that place? Perhaps, you can
set foot in the event planning business. Yes, you heard it right. With the correct skills, knowledge,
and passion; you can turn this small dream into reality and live a happy life.
Creativity is the keyword when it comes to event planning. Not everyone is blessed with such a skill.
Obviously in today’s technology times; we do have the interest to guide our ways, but if you have
passion and a very fresh perspective towards looking at a certain event; consider opening an event
planning business.

By end of the article you will be able to know :

Is Event Planning a profitable business?

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

How do event planners get clients?

How much should I charge for event planning?


Opening a business can be a very tough and important decision one must take; thus we are here to
help you with everything you need to know about event planning; to give you a perspective as to
what to expect from such a business.
Important steps to take before setting up the business:

  1. Get some experience: Rather than opening an entire business, try working under some event
    planners, see their world, their struggles, challenges, good days, bad days, vendors checklists, last-
    minute changes, set up, pack ups, and much more. To become a full pro event planner, you must
    know every task in this field to set a good example to your employees.
  2. Determine Your market: Well there are many categories of an event planner. Some love hosting
    social events, some go with corporate, non-profit, and profit while other play it safe and do
    whatever comes their way. Understand your niche, your strengths, your planning, your imagination,
    and then go with the flow.
  3. Lay a business plan: A very important step in any business is to lay down a complete business plan.
    Highlight your short-term, long-term goals which make things easy for the long run. Even consider
    the number of staff members, vendors, and everything else you will need. This will help you realize
    where you stand and what to expect from the business.
  4. Insurance: Draw a map or vision board and highlight:
     Home-based insurance
     General liability
     Criminal insurance
     Product liability
     Health
    Business insurance is very important. So include the following pointers in your insurance and be free.
  5. Look For Vendors: Even if you are planning on starting a work-from-home office or looking for a
    place to rent. No matter your business is small or large; prepare a list of vendors you must have
    contacts with to host a fabulous event.

Problems:
Let us now shift our focus towards the problems faced by event planners and solutions to them:

  1. Overspending or not spending at all
    Having a creative mind might end you up spending too much money and thus going over budget.
    There might also be times when you have the idea but not the heart to spend money. Both the cases
    are absolutely unacceptable when it comes to event planning.
    Solution: Th best way to deal with overspending or spending less is planning. Frame an even budget
    to highlight the important aspects that need extra money.
  2. Not paying attention to little things: The profession of an event planner is to keep a check on even
    the minutest of the detail and try making things perfect as per the theme and event. But due to a lot
    of pressure and work stress, they tend to pay attention to the broader image than to the minutest
    things.

Solution: Make a team that can handle such things so that you can just supervise everything and
keep a track of everything. You can even pen down important points in your planner which will help
you have a productive day ahead.

  1. Weather: Bad weather can be a turn down especially when you have planned an outdoor event. If
    now snow and cyclones, you can surely face rain during your events.
    Solution: Keep a check on the weather before planning everything. You can also keep raincoats,
    ponchos, and umbrellas always handy, who knows what can happen when.
  2. Too many people: The saying is correct: too many cooks spoil the broth. Even though having a
    huge team is a dream of any event planner. But I can also mean that there are too many
    perspectives and sometimes lead to fuss and fights.

Solution: Even though you have a large team, try dividing them as per their skills and capabilities
Engage minimum people on the site and more on the backend to support and help in other errands.
Skills required:
Only an event planner can understand the importance of organizational skills when it comes to
planning and executing an event. Not only that, to gain a competitive edge, consider getting a

minimum of bachelor’s degree in Hospitality or Event planning. If not; you can even go with certified
courses offered online as well as offline. It is believed that the more experienced the planner is, the
better he/she will be able to handle the events. Thus, try getting as much experience as you can; it
will even help you go through bad and hectic days.

Market: The (BLS) recommends that the event planning industry is likely to grow by7% in the coming
future. According to the Bureau of Labor Statistics (BLS), an event planner can make up to $16.07
per hour. There are various factors on which their income differs, but the most important one is the
state. As per US statistics, event planners coming from states like Washington, Texas, New York,
Pennsylvania; tend to earn around $30-$60/hour in comparison to the ones coming from Virginia,
District of Columbia where the income is around $10-$20/hour.

FAQs

How to start an event planning business ?

How to get clients for event planning business ?

Starting an event planning business checklist.

A single memorable event can turntable for you. If planning to getting into such a business expect
the least and you’ll get the most. Try swinging by bad days, cherish good days and sail your boat and
become a successful event planner.

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