It takes careful planning to start an event planning business in 2021. Here are some steps you can take to get started.
Towards the end of this article, you’ll find answers to some of the most frequently asked questions on how to start an event planning business…
If you are new to the event planning business, you might think it is all glitz, champagne, and parties.
You may have worked hard to achieve that, but the real story is quite different behind the scenes. Any event will have about a thousand boxes you (the professional event planner) need to check off for everything to run smoothly.
These tasks might include, but aren’t limited to:
You will need to check off about 1,000 more boxes under each of these tasks. This field is well-suited to the Type A personality type. This is what you need to be.
Aside from that, you will need to be a good negotiator who can manage a budget and market yourself.
A wedding planner must possess high emotional intelligence to manage nervous brides, grooms, bridal parties, and other guests in stressful situations.
It’s a good idea for anyone who isn’t quite sure if starting an event-planning business on their own to give it a shot.
The first is to consider working for an experienced party planner or event planning company as a personal, or production assistant. By doing this, you can determine if the job is for you.
For any type of party planning business to succeed, careful planning is required. Below are five steps to get you started in the events industry:
Write your business plan. A business plan is a written document that describes a company’s core activities, objectives, plans, and how it will achieve them. Good business plans include an executive summary, products and services, financial planning, marketing strategies, and budget.
Your business setup also includes setting up all necessary legal foundations for your business. This includes getting your company registered, setting up a bank account, and getting a business license.
If you are new to the event planning industry, it’s crucial to go through the fundamental business foundations to make sure your business is compliant. The requirements will vary depending on where you are located. Find out the requirements to register an event planning business or obtain a license from your local government.
After you have registered your event-planning business and made it legal, it’s time for you to open a business account. Even if there aren’t any clients yet, it’s a good idea to start the process to clearly identify personal expenses and business expenses.
Make sure to secure all your online accounts once you have a business name. Register all accounts, even if you aren’t planning to use them yet.
It’s better to plan ahead than to make a mistake and end up realizing later that someone else is using your business name.
You can choose the right social media platform for your business by doing what makes sense. Social media is not a one-size-fits-all approach.
There are some platforms that are better for event planners than others. They are visually appealing, allow you to share beautiful images, and help you showcase your work. These are:
You should also get a domain name and set up your website. Experts recommend WordPress. But, if you don’t have the technical skills, ShowIt and Squarespace are great options which most event planners also use. They allow you to easily optimize your website for search engines.
It is essential to have all of your business tools ready before working with clients. These tools are the programs in your client relationship management software (CRM). They will help you book clients, collect payments, and document the timeline and due dates.
This can be more difficult to do when you are already working with clients. These should be done before clients begin to come in. It will help you streamline your business processes and reduce your stress levels before they start coming in.
There are several client relationship management (CRM) programs you can consider for your event-planning business. They are:
Your portfolio as an event planner is essential if you are a new event planner. Images that show potential clients what your business can do are essential. You can use photos from past events to promote your business.
If you are just starting your business but don’t have images, you can volunteer to organize events for friends and family to help you market your business.
Pro Tip: Hiring a professional photographer is advisable. Family events are wonderful, but they are only successful if the images taken are professional and of high quality.
If you don’t have a portfolio, a styled shoot is another way to showcase your skills. These are five tips to help you plan a styled shoot.
After your business is ready for clients, market it as if you are a professional. Even though you can plan amazing events, if nobody knows where you are or who you are, your business will be doomed.
Marketing your business involves more than just having a website or social media accounts. It also requires understanding your customers and being able to articulate how you can meet their needs.
Here are some questions to ask yourself when marketing your business:
The way you market your business is key to whether or not your business succeeds. Your business will likely close due to lack of bookings.
You have probably been on Instagram or Facebook and seen many event planners post about their past event planning services.
Marketing is vital for event planners. Your competition is actively marketing their business. Marketing aggressively is the only way to gain an advantage over your competitors.
Marketing your event planning business does not have to be unprofessional or sleazy. You can simply do research about your target market and find ways to offer a better experience and service.
Your business will do well and effectively sell to your customers if you educate them, keep them engaged, and build a good reputation with them.
Businesses that attract new customers have the best chance of succeeding. Marketing is how your business attracts new customers.
What are the startup costs to open an event planning business?
For a small business to begin event planning, set aside $15,000 to $25,000 for the minimum.
How do I start my own event planning business?
Research, plan, budget, scope of work and throwing amazing events are all part of any event planning business process.
Can you start an event planning business with no experience?
Although it can seem daunting to start an event business, you don’t need any prior experience. Some of the best event planners in the world, like Preston Bailey and David Tutera, started their career in the event industry.
Is an event planning business profitable?
Starting an event planning business can be a very lucrative career option. Successful event planners will enjoy a positive reputation and be able charge high prices for their creativity, execution, and results.
Our review team has come across a program in the real estate industry that is next level!
Although it’s not real estate in the traditional sense, it’s all digital.
With this digital real estate program, you can have the ability to completely walk away from manual labor!
Sound too good to be true?
Of course it does!
But it isn’t…in fact, business owners wish they had this skill!
All you have to do is build and rank a website and forward the jobs off to a business owner in town, you could even email it to them!
This works for literally any service based business, tree service, plumbing, towing, etc.
Simple, after you forward the jobs off to a business owner and he makes some money off of them, you simply ask to make the deal beneficial for each other.
A fair price to charge per lead, depending on the industry is 10-20%…let’s just use the tree service industry for example and go by worst case scenario.
Let’s say you build and rank the site and only 20 jobs a month come in. The average tree service job is anywhere from $500-$2000!
That means at bare minimum you have an asset worth $1000 a month!
See why they call it digital real estate now?
That’s a rent payment.
The great thing is how easy it is to scale. You don’t have to answer the phone…all you have to do is get the phone to ring.
Unlike the passive income ideas I mentioned earlier…
This one actually allows you to collect that without working in a brick and mortar business all day.
Truly passive income!
The training program takes making money online to a whole other level. The owner of the program walks you through how to build and rank a site hand in hand, with the occasional voice over when he is sharing his screen.
You will learn the importance of keywords, website name, how to send call notifications via email, backlinking, etc.
Once the training program is completed you will also have access to a Facebook group where you can ask questions and be in a community with others on the same journey as you.
Digital real estate allows you to have passive income with most of your day being spent OUT of the brick and mortar landscape.
Now, I know you probably have tons of questions… So, check this out to learn more.