How to Start an Event Planning Service

 

how to start event planning business

Editor's note: This article was excerpted from Start Your Own Event Planning B usiness (Entrepreneur Press, ). The special events industry has grown enormously in the past decade. According to. Ready to start your event planning business? Like any other home-based business, you will need to educate yourself on best business practices and tools, file all of the appropriate paperwork, and get your legal and financial ducks in a row. Once you step up the preliminary business framework, you can start working on the fun parts of your business. Aug 08,  · The good news is I plan to break down the process to start an event planning business, and I want to make it clear enough that you know the next actionable steps to take to pursue your dream. If that sounds good to you, let’s unveil the process for how to start an event planning ftcayqndp.gq: Tiffany Domena.


How to Work From Home as an Event Planner


Find the perfect business for you with our. Business Ideas Tool. Event planners help their clients organize and orchestrate events of all types and sizes. Those with an eye for detail, applied creativity, and the ability to easily converse with the general public, will find a great match in event planning.

An event planning business makes its money from hosted events. This means interacting with current and potential customers is critical. Either one on one or through larger social media outlets, a successful event planner must constantly work to get their name and reputation known to the public. Additionally, the business will be:. Your target market will consist of clients wanting either social or corporate event planning. Event planners make their money from the service fees, paid by the client, for the planning and operations of the event.

Event planning is steadily growing as an industry. With increased globalization in business, more and more companies are looking to host professional, well-organized events to grow their own businesses.

And, as business grows internationally, event planning will continue to mirror this trend. To begin, how to start event planning business, it is not necessary to obtain a degree or professional certificate of training for event planning.

It may help you, but many successful event planners learned many of the skills needed from on the job training. A background in customer service or the hospitality industry can provide great experience. An event planning business can have a fairly low overhead for start-up. If you are based from home, you will avoid rent and utilities costs.

Other costs will include:. Once you're ready to start your event planning business, follow these steps to ensure that your business is legally compliant and avoid wasting time and money as your business grows:. A clear plan is essential for success as an entrepreneur.

A few important topics to consider are:. Choosing the right name is very important. We recommend checking if the business name you choose is available as a web domain and securing it early so no one else can take it.

Establishing a legal business entity such as an LLC prevents you from being personally liable if your event planning business is sued. Consider using a registered agent service to help protect your privacy and stay compliant.

You will need to register for a variety of state and federal taxes before you can open for business. Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down. Insurance is highly recommended for all business owners. If you hire employees, workers compensation insurance may be a legal requirement in your state.

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors. A business website allows customers to learn more about your company and the products or services you offer. You can also use social media to attract new clients or customers. Select your state below for an in-depth guide on completing each of these steps in your home state.

One how to start event planning business the greatest resources an entrepreneur can have is quality mentorship.

As you start planning your business, how to start event planning business, connect with a free business how to start event planning business near you to get the help you need. Having a support network in place to turn to during tough times is a major factor of success for new business owners, how to start event planning business. Understand your client base and seek to create a niche for your business. A niche may be weddings and receptions only. Or how to start event planning business near the coast.

If you carve out your own special place amongst the competition, the specialization should pay off in return customers and customer referrals. Marketing and promotion of your business will rely on highlighting your business strengths or areas of focus. You will also rely heavily on the success of past events and the positive words or recommendations of prior clients. Consistently use social media outlets to supply pictures and video of your events how to start event planning business well as connect and network with prospective clients and related professionals.

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

Providing a professional level of service and an impeccable relationship for giving the customer what they want is key. People are buying a service from you, for a particularly important event.

It will be necessary to carefully select individuals who understand the multiple roles they will play in creating successful events. Certain state permits and licenses may be needed to operate an event planning business. Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, how to start event planning business, Sales Tax for Small Businesses.

When your personal and business accounts are mixed, your personal assets your home, car, and other valuables are at risk in the event your LLC is sued. In business law, this is referred to as piercing your corporate veil. Recommended: Learn about the best small business credit cards here.

To learn more about maintaining your LLC's corporate veil, read our guide and protect your personal assets. Event planning businesses should require clients to sign a services agreement before starting a new project.

This agreement should clarify client expectations and minimize risk of legal disputes by setting out payment terms and conditions, service level expectations, and intellectual property ownership. Here is an example of one such services agreement, how to start event planning business. Recommended: Rocket Lawyer makes it easy to create a professional service agreement for your event planning business when you sign up for their premium membership.

Re-stocking supplies, employee payroll and replacing damaged or broken equipment constitute much of the ongoing expenses. Other expenses can include:. Profit margins depend on the size and number of events you pick up per year. As the event planning business becomes well-established, how to start event planning business, you may consider adding additional services, such as catering, bartending, or even photography to your customer options.

By supplying in-house hospitality services, you are able to offer clients a full-service experience and, in turn, create more business revenue. Sign up at the Business Center to access useful tools for your business. Boutique Tour Business. Skip Ahead To. Try Our Tool. Find the perfect business for you with our Business Ideas Tool. Skip Ahread To. Try our Tool. Who is this business right for?

What happens during a typical day at an event planning business? Additionally, the business will be: Reading and responding to customer e-mails Re-stocking event inventory Communicating with vendors or business partners, regarding upcoming jobs Marketing and PR work Employee training and continued education. What is the target market? How does an event planning business make money? What is the growth potential for an event planning business?

Subscibe to our YouTube channel. Getting Started. What are some skills and experiences that will help you build a successful event planning business? You should also be familiar with or be able to: Communicate effectively, both in writing and verbally Possess strong organizational skills Be flexible and prepared to make adjustments to plans. What are the costs involved in opening an event planning business?

Other costs will include: Business website and site hosting High speed internet and phone service Advertising and marketing Payroll Equipment Business licenses and taxes Insurance. What are the steps to start an event planning business? Once you're ready to start your event planning business, follow these steps to ensure that your business is legally compliant and avoid wasting time and money as your business grows: STEP 1: Plan your Business A clear plan is essential for success as an entrepreneur.

A few important topics to consider are: What are the initial costs? Who is your target market? How long it will take you to break even? What will you name your business? Find a Domain Now.

Where can I find a how to start event planning business mentor? What are some insider tips for jump starting an event planning business? Join a professional event planner association. Networking with other professionals can garner excellent insider tips.

 

How to Start an Event Planning Business

 

how to start event planning business

 

Ready to start your event planning business? Like any other home-based business, you will need to educate yourself on best business practices and tools, file all of the appropriate paperwork, and get your legal and financial ducks in a row. Once you step up the preliminary business framework, you can start working on the fun parts of your business. Aug 08,  · The good news is I plan to break down the process to start an event planning business, and I want to make it clear enough that you know the next actionable steps to take to pursue your dream. If that sounds good to you, let’s unveil the process for how to start an event planning ftcayqndp.gq: Tiffany Domena. Editor's note: This article was excerpted from Start Your Own Event Planning B usiness (Entrepreneur Press, ). The special events industry has grown enormously in the past decade. According to.