How To Get Into Event Planning and Build a Thriving Business

If you are good at organizing events and making people happy, you might have thought of how to get your event business idea off the ground. 

But how easy is it to get into event planning?

We won’t hide it, there are the complexities of running a business. Do you know how to hire people? Got an eye for marketing your services? Have a head for billing and resources management? There are so many roles you might need to manage, at least at the beginning – beyond just planning the event itself and being a great communicator.

But don’t let that scare you.

So many founders go through exactly this journey of doing things themselves, then learning to delegate, hire, and outsource. You may even start an event business from home! 

Anyway, getting into the event business, you need to be well-armed with the knowledge and skills. And here is where our event planning guide might be helpful.

Event Business Ideas & Services

What exactly is the business I am going to start? 

This is what you should ask yourself – and you should be very clear about this one.

Of course, our first recommendation is to look at services that you have experience with or have in some way worked in the field. Familiarize yourself with business concepts and service types popular in your area. This will help you define your niche and target market.

Based on the services you choose, the next question is to define who can do the work? There are many roles that an event planning business might require:

Event planner	● Wedding planning, ● Corporate event management agency, ● Non-profit fundraiser organizers
Event coordinator	● Shows and exhibition services, ● Destination event companies, ● Conference and seminar planning
Venue manager	● Banquet halls or reception venues ● Convention centers ● Boutique event spaces
Event designer	● Event marketing services ● Themed party ● Decor companies
On-site staff	● Pop-up event production ● Festival and concerts ● Event staffing agencies
AV technician	● Live Production ● Broadcasting companies ● Virtual event production agencies
Caterer	● High-end catering services, ● Corporate lunch, ● Event-specific food
Florist	● Wedding floral design, ● Corporate event floral services, ● Holiday event decorators

Lighting and sound, catering, design, logistics, venue selection… It seems almost impossible to do all the jobs yourself. So the sooner you understand how to narrow down your event business niche, the faster you’ll get into the right strategy of hiring the staff.

Developing a Business Plan & Understanding How to Think Strategically 

In any business, a plan is part of the job done. Following this plan is even more rewarding!

Planning helps you tailor expectations from your first days of operation to understanding expenses and pitfalls.

What’s more, as an event planner, you need to be perfect with event management and coordination, logistics, and itinerary planning, which means… always a lot of planning!

There is no one universal template to apply to any business. However, we’re pretty sure that the following aspects should be included:

• cash flow forecast.
• logistics and location.
• technology and software you may use.
• equipment and services.
• staff.
• marketing.
• insurance and licensing.

To plan, research, and improve, you need, first and foremost, time. A lot of time. So, consider how many free hours per day you have to spend on the research.

Seek out Mentors & Support Groups

Remember we’ve started with the statement that running a business as a solo founder is a hard thing? Not so much if you have support. When you are just starting out, it’s absolutely crucial to pick up the brain of those in similar business. You need to learn from their experience, understand challenges, and feel the deep motivation of customers.

Those can be your friends or mastermind groups. You can, however, also join dedicated courses or programs with structured theory and practice tasks.

Don’t fear business terminology but rather learn it – better sooner than later.

Befriend with Social Media

Social media is a life-saving vest for many event planners. Use them to test the waters even before you start your business.

An event is a story – and social media communities love stories. Embracing the social media world is a hard thing – primarily because there are many competitors and people doing creative staff.

Measure what value you get from those posts.

Have you noticed clients writing to you or enquiring about your services? Perfect!

Have you seen an increase in comments and likes? Not that bad, that signals a boost in interest.

Spend too much time but don’t get enough measurable value? Reduce time on posts or change the strategy!

Review Software Options to Automate Numerous Business Processes

It is now obvious that any business can save tons of time and automate a great many processes with the software.

And that business software revolution has not bypassed the event industry. Various software solutions can tremendously help you:

• Schedule meetings with clients. Think of tools like BookingPress for WordPress sites and Calendly for any site. They will make appointment scheduling really easy.
• Accept payments in advance. You might need budget trackers, timelines management, online payment integration systems, and invoicing tools to keep all things automated and paperless.
• Manage the resources you have for events. Manage what you have in stock and what would be purchased/replaced.
• Sell tickets. If you are working with venues and provide all-in-one services, you might want to sell tickets or provide some sort of registration.
• Manage RSVP. Introduce client confirmation or deny of the registration to the event.
• and more things for any needs.

Decide on the Event Business Structure

Event planning highly involves dealing with contracts, vendors, and potential risks at events. But if you are so serious about it, get down to business.

Think of your goals, team size, and services you are going to provide, and try to determine the best business structure for your idea. A sole trader, partnership, limited company, etc. 

• Consider the costs involved with every and the legal obligations that are included.
• Review tax implications and the flexibility that may be involved.
• Understand paperwork, compliance, and fee management that come with the business.

So, How to Get into the Event Planning Business? Let’s Conclude

No matter whether you want to organize charity events, weddings, or private parties, it’s a lot of work and planning, studying, trials, and rewards going into the process. Obviously, the first thing that is absolutely required is your time. Other tips for smoothly getting into the event planning business include:

1. Don’t start haphazardly, invest your time into planning and shaping details.
2. Prepare for upfront costs – and calculate those costs.
3. Do the study, learn the business concepts, and understand challenges.

Create a data-driven roadmap for success in the event planning business – and you are good to go.

More related articles:

• 7 Best WordPress Event Booking Plugins
• How to Build Strong Customer Referral Program for Small Business
• 7 Handy Tools Your Staff Can Use in BookingPress for WordPress