If you love hosting parties, you may have thought about going pro and starting your own event planning business. But while enthusiasm will take you some way in the events industry, there’s a lot to starting a whole new enterprise from scratch.
This short guide breaks down starting your new business into manageable steps.
What Makes A Good Party And Event Planner?
Some people are born to host events. Anyone with strong organisational and project management skills is likely to excel in this industry, and problem solving and negotiation skills will help, too.
If your skillset doesn’t quite line up with this just yet, don’t worry – there’s plenty you can do to brush up while you set up your event planning business. From online courses to work experience, it’s important to arm yourself with strong skills and experience that will help you when your business goes live.
How To Start Your Event Planning Business
Get ready to build your business with this step-by-step breakdown.
1. Research Your Niche
Whether you want to plan weddings, galas, business conferences or Christmas parties, it’s important to research your niche before you dive in. Figure out who your main audience will be, as well as who the major players are in your area. This information will inform many of your business decisions, so it’s key that you get as much information about your niche as possible.
2. Create A Business Plan
Nobody should go into business without a strong business plan to back them up. Your business plan should include your business name, your company goals, and how you plan to measure success. Find out more about creating a business plan.
3. Understand Licensing Rules
Event planners often need a number of licenses in place before they conduct their business. This includes alcohol licenses, public liability insurance, and photography permissions. Make sure you ask your local authority which licenses they recommend for you to operate successfully in your area.
4. Invest In Your Business
All successful businesses have some degree of investment. Whether your initial investment is in marketing, or handy tools of the trade, make sure you have the capital to invest in your business.
5. Promote Your Event Planning Business
When your business is set up, it’s time to get the word out about your new venture. Use social media to tell the world about your event planning business. You can even host a launch party to prove you’ve got what it takes to make it in the event planning industry.
Where Should I Start?
All budding event planners know that the devil is in the details. That’s why you should plan your business thoroughly before you take the leap. Invest in organisational tools such as project management software, a diary, and a labelling machine to ensure you’re always well prepared.
It’s easy to start an event planning business – making it a success is the hard part.