If you are creative, have people skills and you are good in organization, an event planning business will be a career you will excel in. Most people wonder how to start to start the process. Initially the difficult part might be building a client base but once that is accomplished then you are in for a successful career. Below are some steps to take when planning how to start your own event planning business.
#1. Get experience
Get experience in event services. You can start with being an intern or start with small events you could also be volunteering for nonprofits, working in a personalized gift operation, or working for an established event planner.
#2. Expand your network
As an event planner, you will need a lot of contacts. Even though your experience does matter you also need to know people that can help. Join appropriate groups and participate in discussions, attend seminars, exhibitions, and trade shows, these are also great ways of expanding your network.
Another way to expand your network is to use social media to your advantage. Advertise your services on social media platforms you are a part of. If there are pictures of what you’ve done, please post them.
#3. Create a business plan
Every planner needs a solid business plan. When creating your plan, it’s essential that you do your market research. Knowing your audience and your competition is essential to finding your niche and in deciding how and where to promote your services.
Also it’s in this step that you create your budget
#4. Get certified
You might want to consider a degree or at least a certificate in event management. There are a number of universities that offer such courses. Many corporations, and some members of the general public, look for these qualifications when hiring planners. In addition to this you might also want to have your own business cards and logo.
Remember to register your business trade, website etc. your business might be seen as illegal if it’s not registered. Also get professional advice before registering a company as this will have implications on the type of financial records that you will need to keep for tax purposes.
#5. Define your services
It is crucial to decide on what types of event planning services you will offer. In most cases people already decide on this from the onset. For instance will you specialize in one particular aspect of the planning? Will you offer services in production, sound, gifts, transportation etc. what it is, it is important that you know it and brand yourself accordingly as this creates focus and expertise.
Remember your fees should be able to cover costs and still be able to get you profit. Most event planners set fees based on hourly rate, flat rate, percentage of expense, commission rate, percentage of expense plus hourly rate.
The market for event management has been growing and it’s also getting very profitable. If you are thinking of getting in this area, it may be worthwhile to give it a shot!
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