business plan event planner

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Business plan event planner custom home work ghostwriter service

Business plan event planner

Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free. Occasions Executive Summary executive summary is a brief introduction to your business plan. It describes your business, the problem that it solves, your target market, and financial highlights. Solution Occasions is an equal opportunity business making its expertise and its products available to help its customers plan their own events.

Market The market for event planning breaks down into wide, very diverse segments. Competition Occasions is in a unique position of competition. Why Us? Expectations Forecast Tax rates are noted for information. Financial Highlights by Year. Start your own personal event planning business plan Start your own business plan Start planning. Get the Bplans newsletter: Expert business tips and advice delivered weekly.

Plan, fund, and grow your business. Plan, fund, and grow your business Easily write a business plan, secure funding, and gain insights. An event planning business plan is a document that outlines the major aspects of your business. It articulates what the business is, its objective, how it operates, the structure and other important elements. Perhaps you are just starting your event planning business and because it is so new, you then wonder if you should devote time to developing a plan.

Or, you may have been operating your solo operation from your dining room table for the past several months, and everything seems to be running along just fine. Either way, a business plan is an important component of your business. Just as you have an event planning checklist to spell out the goal of an event, the budget, the target audience and other such factors.

A business plan will put your objectives in writing and keep you focused on the long-term goals of your event planning business, so note the plan in as much detail as possible to ensure that when you go to actually start your business, you have already ironed out potential setbacks in the planning stage.

Use your event planning business plan to keep you on track.

EXAMPLE THESIS QUESTION

Marketing analysis is a must-do thing before you move on to event planner business plan because the planning of many subsequent components depends on it. Therefore, it must be considered before developing a party planner business plan.

The event management industry is hardly a couple of decades old and has already experienced unprecedented growth. Today, event management is not just limited to planning and organization but much more. Moreover, this industry is one of the few industries which have seen a constant increase in revenue along with the increase in business locations with time.

It has been estimated that event industry contributes more than a hundred billion dollars to the annual GDP of the United States. The number of event planners has increased exponentially over the past few years. After identifying these market trends, it is clearly evident that the event management industry is always blooming and can be immensely profitable provided you plan your business successfully.

The community consists of all types of people from varying backgrounds. The corporate sector also provides many opportunities to us since the Downtown Manhattan houses many local, national and multinational businesses and companies. On average, these businesses make millions of dollars every year and can easily spend extravagantly on their events for the sake of promoting their brands. In order to develop a good event planning business plan sample it was crucial to analyze the market segmentation of the future customers of our services.

A successful and efficient marketing strategy can only be developed after we completely know our potential customers. Our experts have identified the following type of target audience which can become our future consumers:. The biggest consumer of our services will be the corporate sector located in Downtown Manhattan. There are hundreds of local, national and multinational businesses and companies located within 15 km radius of our office.

These corporations organize company retreats once or twice a year to increase team building between their employees and to take a break from the hectic and monotonous office routine. Similarly, these companies need to organize work sessions, team meetings, seminars, workshops, and conferences multiple times in a year.

Most of these businesses make millions of dollars every year and can easily spend extravagantly on their events for the sake of promoting their brands and for entertaining their high-profile guests. They will contribute the biggest portion of our revenue and hence our marketing strategy will be specifically tailored to attract this customer group. The second category comprises of various government institutions in addition to schools, colleges, and universities located in Manhattan.

These institutions frequently host many public events and gatherings such as award ceremonies, educational events, conferences and seminars, alumni meet up events etc. The residential community is extremely diverse comprising of people belonging to various age groups and varying needs. This customer group will need our services for weddings, birthdays, anniversaries, and parties. As discussed earlier, we are strategically located in one of the richest neighborhoods in the United States where the residents have monthly incomes up to a hundred thousand dollars.

We aim to become the best event planners of the New York City within next five years of our startup. Our main business targets to be achieved as milestones over the course of next three years are as follows:. Product and service pricing is one of the most important factors in deciding the strategy for a business plan for an event planner. Selecting the price for the services is a difficult task, especially for the startups, because one has to attract customers while yielding a profit at the same time.

These two things cannot be achieved at the same time and the only way out is to select a compromised trade-off or balance between the two. After considering the market demands, we have priced all our services in the similar ranges as of our competitors. The reason behind our pricing policy is to achieve the minimum attractive rate of return which would not be possible in case of offering our services at low prices.

We had a great experience with OGScapital. They were quick, on top of the BCP, and got us exaclty what we needed. We also had an issue with completing a task in a certain time required and they were nice enough to help us out and allow us an additional week. Thank you Alex for all your help! Like marketing analysis, sales strategy is also an important component of an event planning business. After identifying the market trends, the market demand, and the potential customers of the startup, the next step is to develop an ingenious strategy to attract those customers toward us.

Anna carried out an extensive research about various marketing and advertising strategies before she moved to start a party planning business. According to the US Bureau of Labor Statistics, there is over , party planners business in the United States and their numbers are increasing exponentially. Considering the immense competition in this field, one has to introduce something innovative before even thinking about how to start event planning business. Our biggest competitive edge over other competitors will be our mobile app which can be used for a variety of purposes such as online booking, choosing a venue from different venues, selection of different menu plans or create a customized one for your event, selection of different activities for the event, making online payments, and much more.

After carrying out a detailed analysis, our experts came up with the following brilliant ideas to advertise and sell ourselves. Considering our innovative app, the quality of our services, and our unparalleled customer service, our sales pattern is expected to increase with years.

By analyzing our market segmentation strategy, our experts have forecasted the following sales on a yearly basis which are summarized in the column charts. The detailed information about sales forecast, total unit sales, total sales is given in the following table:. Personnel plan, like all other plans, is an important component of an effective event planning business plan example.

Its importance is due to the fact that success of any business significantly depends upon its employees. It is never easy to estimate the number and type of staff needed for a company before it is even launched therefore it is always better to seek the help of HR experts to get through this phase.

Anna acquired the services of experts to help her develop the following personnel plan for her company. The company will initially hire following people:. To ensure the best quality service, all employees will be selected through vigorous testing and will be trained for a month before starting their jobs.

The following table shows the forecasted data about employees and their salaries for next three years. After deciding the strategy and personnel plan of the company, the next step is to develop a detailed map about the financial projections covering all aspects of the company. Just like the planning of other aspects, you must also prepare a financial plan before you start thinking about how to start your own event planning business. The financial plan should craft a detailed map about the cost of startup, inventory, payroll, equipment, rent, utilities and how these costs will be covered by the earned profits.

Before getting to think about starting an event planning company , make sure to carry out a detailed profit and loss analysis. The following table shows detailed data about pro forma cash flow, subtotal cash from operations, subtotal cash received, sub-total spent on operations, subtotal cash spent.

The following projected balance sheet shows data about total current assets, total long-term assets, total assets, subtotal current liabilities, total liabilities, total capital, total liabilities and capital. OGS capital professional writers specialized also in themes such as business plan for a funeral home , music festival business plan , wedding planning business plan , speaker business plan and many others. E-mail is already registered on the site.

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Our friends know us and know what we like. According to the Word of Mouth Marketing Association, one offline word-of-mouth impression drives sales at least 5x more than a paid mention does. Give those referring you all the information they need to make sharing it with their network easy.

Make sure to thank them when they do and offer them a referral fee or thank you card or gift for their assistance if work materializes as a result. You can even offer a friends and family discount or free consultation. Join a group and get to know other people. In-person networking groups like your local chamber of commerce and others as well as virtual groups on LinkedIn and Facebook allow you to make connections with your ideal clients and other professionals who can help expand your network.

Instead, look for opportunities to be of assistance and connect them to the people they want to meet or need help with. If you become a resource for others, they are likely to become a resource for you as well because they will begin to know, like, and trust you.

As mentioned above, becoming a resource for people is a good way to get hired. If you can become the noted expert in an area, book speaking engagements, publish about topics of interest to your ideal audience, write a book or an ebook , post on sites offering your assistance or answering questions, following others on social media and joining in on chats and other discussions, you can quickly become known for your insights.

When you do, people will approach you to work for them. This means less time spent needing to market your services. Know one more benefit to becoming a subject matter expert? You can increase your pricing, which is another good way to improve cash flow.

Going off of the subject matter expert advice, look for ways you can expand your offerings and sell something. As an event professional, you are exchanging your time for money. You can make a very good career doing so but you can also exhaust yourself chasing the money and working the hours because you want more of it to make up for times when clients are few and far between. An ideal way to balance out cash flow is to produce something that can earn you money without you being involved.

For instance, a book, product, or even a course can bring in revenue without an additional investment of your time. You invest initially in its creation because you do so on spec. Most likely you will not be paid to create it. By setting your prices you have chosen to work with a client of a specified means or revenue. But a way to get more clients is by going into another market. This could mean taking on another niche or dropping your price. This would entail shorter stints, less work on your part, and a wider audience base.

Or some people just want a plan they can follow. Their limited budgets may prevent them from hiring a full-time planner. You can fill that need. To improve cash flow, either get more clients, raise prices on your services, or change how you collect the money. For instance, adding a payment plan for large events that would bring in a smaller amount each month preceding the event would help, as would requiring a down payment to hold the date and another partial payment when they see your first plan or some other accepted milestone.

Your final payment may be diminished but spreading out the payments would bring some stability to the cash flow. Instead of waiting for clients to come to you, think about opportunities you can make a start on right away. You probably have event ideas which could be financially viable, so why not do them yourself? Of course, there is risk involved and investment needs to be secured but it can also potentially give you the biggest returns.

You can start small and build the event year-on-year. Consider options such as crowdfunding to test the viability of the idea and reduce your financial risk. Look for in-kind sponsorship, partners, funding opportunities and ticketing to balance the budget. If business is really slow, think about if you need to widen your catchment area to look for clients a little further afield.

Of course, the convenience factor drops and the travel time and expense increases when you are working out-of-town but if the demand for services is high elsewhere new contracts can be negotiated to cover these factors. Setting travel budgets and fees can feel a little overwhelming in the beginning, but they can still profitable course of action.

Know your worth. The only exception to that is if you have a potential client who will open up doors for you. In that sense being flexible in your pricing may just be the cost of doing business. Of course, people get busy. Email inboxes become overwhelmingly full. Politely remind them every few days. Make sure the reminder that you set for the day before the deadline has a much more urgent tone.

Please let me know. Businesses need to know who they serve and what problem they solve. Attract the wrong ones and you might not be in business much longer. A successful event business is about more than just numbers. If getting bookings for events was all that mattered, everyone would be in business for themselves.

The wrong kind of client can be one heck of a headache so you want to make sure you attract the kind that you enjoy working with. You cannot please everyone, and trying to offer event planning services to everyone, no matter what their brief is, means that you are missing out on specializing on your strengths and developing your specific area of expertise. The opposite is true. Most people think choosing a niche is limiting. Ask a neurosurgeon. Selecting a niche to focus on can be the wisest move you make.

As personalization increases, niching will become an expectation much in the same way physicians select a specialty. Yes, some people will still be in general practice but those in high demand will specialize. Determine who you want to work with and speak only to them. Once you know what you want and who you work well with, cast narrow not wide. Everyone will be happier in the long run. When you personalize your marketing to a specified group of people, they will feel you are speaking just to them and will appreciate the personalized attention.

You only have so many hours in your day. Every project and client you choose, takes your time. But still, many businesses hesitate to narrow down prospects because they worry that means less potential clients. You can take a keyword and by using analytics tools see just how often someone searched for that term. In pay per click, some terms are more expensive than others to place for because they are popular searches.

If there are only 1, searches of that term per year, but a large percentage convert, then you would be wise to buy for that term. The same is true for niches. You want people to self-select before they ask you to give of your most precious commodity - time. Think of the referral business like high school cliques. Jocks are generally friends with jocks and nerds with nerds. In January we conducted one of the largest pieces of event planning research ever completed. With 2, contacts and over 1, respondents.

If you would like a copy of this research to publish it on your website, you can request it here: State of the Event Industry Research The outlook for the industry is looking positive overall. In order to be successful in your event planning business, you need to learn to prioritize leads to understand who to spend your time with and who to let go.

One of the most critical things you can do for the success of your event planning business, outside of pricing, is understanding the leads process. Here are the basics you need to know. Prioritizing leads will not only help you spend time with the most worthwhile prospects, it will also increase your revenue because more of your time will be spent with those who are able to make a difference to your checking account.

As we have already covered, you should identify your ideal client, otherwise, it makes it next to impossible to be effective in your lead generation. Select a niche to serve, or at least identify your ideal demographic. Do you want to work only high-end events or do you love family-oriented get-togethers?

Whatever it is, sketch out who your ideal client is and what they struggle with. While this is common sense, some event planners still forget this basic advice. Always work inbound leads first. These are people who have reached out to you. Most event planners understand the priority behind a contact form but fail to see that there are other inbound lead types. These could be people who stopped by at your booth at a show, asked you a question via social media or downloaded material from your website.

No matter how they approached you, the follow-up is critical. Check in with them periodically to see if you can be of service. Use drip marketing or a newsletter to stay in touch and remain top of mind so that when they need an event planner, they think of you. If you send out any sort of cold messaging via email or a newsletter, follow up with those who have clicked on any of these materials. If the person is someone who started as an inbound lead where they contacted you and were then added to a list, they take priority.

Otherwise, anyone who clicks on your email or newsletter content deserves a polite, how can I help you? No one clicks out of kindness. If they click, they have some interest in you, your services, or your content. Ideally, you would have technology in place that could keep track of their activity history and you could analyze it for patterns.

For instance, do they seem to click on a particular topic like corporate events? Then consider touching base and offering them your corporate events guide. This will position you as an industry expert, understanding of their needs, helpful, and a resource to turn to for assistance. All of these things will bring them back when it is time for them to make a decision about their event. When you contact them to see if you can be of service, offer them a piece of content that is in line with their interests.

You can contact businesses directly for corporate events , inquire with other vendors on potential partnerships, or market yourself on social media, to name a few. However you decide to do your own cold calling or approaching , make sure you have your ideal client information at your fingertips. You do not want to approach someone just for the sake of getting more contacts in. Make sure they are good contacts and would make good clients and a good fit.

Otherwise, you are wasting your time and theirs. What if you just want to know how to prioritize leads that are all coming in the same way such as through a contact form? Keep reading. The first way to help you prioritize is to create a contact form that tells you what you need to know before contacting them. These things include:. Remember that ideal client list you made and the demographics you laid out?

Use that to prioritize incoming leads or contact forms. Ask yourself the following questions:. Selecting an event planner is not the same thing as going into a store and buying a loaf of bread. When you want bread, you walk into the store and buy it. On the other hand, there could be a very long sales cycle in selecting the perfect person to plan an event. This process of selection is often depicted as a funnel. A funnel starts with a wide mouth. Although, hopefully not an immense one.

You should be personalizing your campaigns based on your ideal client. After digesting these materials, some people will decide you are not a good fit for their event. This decision is usually based on preliminary qualifications like budget and industry specialization.

Next, people now know a little bit about you and have decided you can handle their event but do they want you to? This part of the process is all about personalization and making connections. They have options when it comes to event planners. This works both ways as you may decide you have no interest in working with them either.

The last part of the sales funnel is the narrowest. Remember, that decision could mean your competition or it could just as easily mean forgoing an event planner altogether and doing it on their own. At this stage addressing their needs is more important than ever. If you can provide a much deeper connection and understanding of their goals, they are more likely to select you.

This is why prioritizing potential clients and leads is so important. The sales process requires a natural sloughing off of potential clients. You want to recognize the potential of becoming a client as early as possible and spend your time with those people. Identify your ideal client so you can recognize them when they fill out a contact form or call you. Be a resource and you become a valuable ally. One of the most common questions we get asked at EventMB is how to get more clients.

Whether you are a self-employed event planner or an ambitious CEO, clients are the lifeblood of the business. It seems to be a lot harder nowadays too since people are tuning out advertising. The good news is that many of the ways you can reach new clients are free or inexpensive to you, outside of the time it costs to perform them. Whether you are introvert or extrovert, there are plenty of ways to land new clients. Knowing your ideal client will help you recognize them when you see them.

It will also help you understand which tips on this list will help you the most. Here is the biggest list of tips to attract more event planning clients and grow your event planning business. You need clients to survive and we all want to gain profitable event clients. Here is a bumper list of ways you can improve your client magnet potential while business is slow.

Create Happy Clients and then Ask for Referrals The primary thing you need to do, is to create happy clients and attendees. Find ways to delight and excite your attendees and clients as the basis for creating a referral plan. This will make them feel proud to see their review on a site and will also give them something to refer people to in order to learn more about what you do and how you do it. Get Reviews and Testimonials from the Right People Event planners can benefit from reviews from clients and attendees.

Anyone who has worked with you and benefited from your level of professionalism is a good ask. If you volunteered your services for an event, you can use them too. Help them understand that you depend on word-of-mouth as a small business and it means a lot to you. There are very few people who will say no to an impassioned, yet humble, request. No one is in the mood for that. Ask for Introductions and Pass it Forward This is one of the most awkward things for most event planners. It feels forced, but if you are confident in your services you should feel like you are giving each one of your clients an opportunity to help one of their acquaintances out by referring them to you.

If you bring business to your clients they will be eager to return the goodwill. Be Yourself Be yourself, unless that self is standoffish and shy. In that case, be the opposite. But seriously, let the clients get to know you and open up to them. Someone who does more than just the service you hire them for is someone you want to refer to others. They want to shine in front of their friends and peers. Referral Incentives If you are struggling with natural referrals from busy previous clients then it may be beneficial to add a little more incentive.

Offer your existing clients money off or discounts if they refer a friend and they are more likely to recommend you if they are getting something in return. For long-term clients or contracts, you could also offer discounted rates to their new referral as part of a loyalty scheme.

The options for this are quite broad because you could base the incentives on the amount of work that they bring in and you may find that you need to do little else once this gets the ball rolling. Know Your Demographic It is important to fully understand who you are trying to attract, what their preferences are and the best way to contact them. You will be looking to market your services in completely different ways if your demographic is year olds compared to year olds.

Think about technology and social media, as well as more traditional marketing channels such as newspapers, leaflets and business networking. Make a Package Bundling together various services can help to create a bigger sense of value to your client. Think about offering a simple package to entice more customers. What opportunities are there to upsell the package? Creative Sponsorship Sponsorship can help you increase your brand awareness and improve interaction with potential clients if done correctly.

Sometimes you need to speculate to accumulate. Make sure you choose opportunities that are relevant to your audience and get creative so that you stand out from the crowd by showing why clients should pick you! As an event planner you might want to offer in-kind sponsorship - where you offer your services pro bono to run an event or a specific element such as the VIP lounge instead of giving a financial payment.

In return, you are listed and promoted as the sponsor and gain the perks that that brings. Video Adverts Fewer people are watching live TV now and many are recording and skipping past the adverts. Not that TV adverts were probably ever within your budget anyway! Instead, make a video advert and share it via your social media accounts to your followers and potential clients.

You could also use the video as a welcome or explanation of services when you get an inquiry. This is an effective way of showing off some of your projects and is much more engaging than an introductory email. Give it a go to see the difference in your client conversion rate. Become a Guest Speaker As an eventprof you have a lot of expertise and experience that others want to hear. Some of the best ways of showing what you do is to discuss it and show them exactly how competent you are.

Attend events as a guest speaker and you can discuss the problems that your services fix and deal with! The key here is to offer value within the talk itself, give good advice on the day and encourage potential clients to come to talk to you afterwards. Your professional knowledge is that carrot enticing people to come and strike up a conversation with you.

Host a Giveaway Everybody loves free stuff, and hosting quality and interesting giveaways is a quick way to get people involved and aware of your brand. Make Use of Trade Shows If you have the budget to participate, a trade show can be great for networking success, brand positioning and sales.

Exhibitions bring buyers and sellers from your industry, or local area, together which means you have a good chance to meet long-term potential clients. Try to be innovative, stand out from the crowd and draw attendees to your exhibition stand to better your chances. Most importantly though make sure that you follow up on any promising leads promptly after the event, otherwise, your investment will be worthless.

Create Your Own Leads Sometimes clients are not always forthcoming and you need to proactively go out there and find them yourself. One of the ways to do this is to use platforms that have a lot of business information about people, for example, LinkedIn.

This also helps to connect you to similar people that may help your business too, for example, new suppliers. Hashtags There is a plethora of information on social media and it can be hard to get noticed without having to pay for adverts or to get your message out. Using popular and relevant hashtags on social media can be an easy way to get in front of potential new clients. Twitter chats can be a great opportunity and some chats are based on geographical location while others are based on different expert topic areas and interests.

Keep your content and hashtags relevant and you might find that a retweet or share turns into a bigger opportunity. Resist the urge to do the hard sell on social media though. Focus on being genuine and striking up real conversations and relationships. Business Cards Whether you still favor traditional paper business cards or have gone digital make sure you always have your details to hand for easy sharing.

With more and more people storing their cards on their phone they are less likely to take and keep a business card, so have both options available if you can. Include social media details as well as traditional methods of contact. Creative Partnerships Do you have a non-competing business that would work well with your own? Approach them to create great package rates that help you both. You can offer to refer to one another with paid incentives for referrals or even special rates of advertising in their shop or website.

Clients want to know that they can get everything fairly easily and joining forces with other businesses helps to add value that can benefit everyone. Talk About Your Business Every day let people know about your business and services. You would be surprised how little other people pay attention to your life, do your friends and family know and understand what you do?

Would they recommend you? Getting clients can sometimes start at home by building your network outwards. There is a lot of event and client potential there, so make sure that you are the first person who pops into their mind in the circles they move in. Business Deals Promotional offers and deals can get new clients in the door to show off your products or services and get them hooked.

This gives them more incentive to act and creates more of a buzz for new potential clients. Long-term Pricing A lot of your business may be one-off or short-term event projects but include a long-term incentive into your pricing structure to encourage your clients to think ahead and keep them coming back. This could be an improvement on rates for next time as a loyalty bonus, or offering a long term service such as managing and updating their event social media channels for their event for 12 months when the next project is confirmed.

It is easier to keep a client than recruit new ones each time so this could be a winning strategy. Online Help Increase awareness for event consultancy and management services by helping others online to answer questions. Using sites such as Quora or Clarity can allow you to create a profile to showcase to potential leads that you know what you are talking about. You can offer your services to provide consultations or resolve questions for users which increases brand awareness and proves you know what you are talking about.

You can also improve your profile with portfolio elements and add reviews from previous users you have helped to improve your status and make you more reputable. If you fill out your complete profile with all of your services and previous history it will make users more likely to come to you. Get Personal On a daily basis, people have their inboxes and phones flooded with ads, cold calls, spam and junk and they can spot it a mile away.

If you are working on a client lead then do your research, treat every client like a VIP and you are less likely to be added to the SPAM folder. With the increase of technology, eventprofs often overlook sending out press releases but this is a missed opportunity to secure local or national media coverage. If you have something newsworthy create a press release and send it out to the right channels.

Press Opportunities Follow the journorequest and PRrequest hashtags on Twitter for opportunities to share your expertise with journalists writing specific features. Help a Reporter Out Register on specialist sites such as HARO Help a Reporter Out to enable you to provide insight and put yourself forward as a reliable source to secure yourself media coverage.

Getting a quote in a major newspaper goes a long way to establishing yourself as an expert in your industry. It is important to remember not to underestimate the power of traditional press and the kudos and reach they bring when looking for new clients.

Brand Ambassadors Another opportunity for event planners to consider is blogs and websites that are read and respected by your target audience. Perhaps you could submit a guest post offering some top tips or be featured with an interview. High traffic blogs may offer sponsored posts, reviews, banner ads and other opportunities.

Join a chamber of commerce or networking organization In-person networking groups allow you to make connections with your ideal clients and other professionals who can help expand your network. You never know who you might meet. Create relationships with business organizations Volunteer for your local chamber. They throw a lot of events. They could just end up hiring you or if not, giving you a great referral.

Volunteer for a non-profit Volunteering allows you to give back, gain more experience and potentially find opportunities for paid work in the future. Partner with other event vendors Can you offer a package with an AV company, event stylist or other vendor that compliments your event planning services? By working together you can add value and involve partners that can market the package to their own networks.

Follow-up with past clients Check in regularly with past clients. Work with Venues Contact local venues and get on their preferred partners list. Plan an Event to Show off your Skills If you want to attract more corporate clients set up a free business networking event to show off what you can do and bring together people who may want to talk to you. Be a Mentor Just because someone is on the lower rung of the career ladder does not mean they are lacking in connections.

Ask them if they might refer them to you instead. Be ready to break down the costs of doing so. Industry events Go to trade shows or conferences that your ideal customer would attend then network like crazy. Co-working Opportunities Contact your local co-working space. A lot of budding entrepreneurs have a need for event planners on a freelance basis. The co-working space itself may need one. Free Consultations Offer a free consultation or a minute planning walk-through of suggestions.

Sometimes people just need to be pointed in the right direction and realizing the enormity of planning an event and their lack of experience might just get you the job. Meet Small Business Owners Network with other event planners. Independent business can be filled with ups and downs when it comes to clients.

Sometimes you have so many you need to turn them away, other times you wish you had some. Partnering with other event planners allows for recommendations in the case of overflow situations and vacations. Be prepared to do the same for them — pass on extra business when you get to that point. Affiliate Marketing and Incentives Offer a referral bonus for past clients who refer you to new ones. Create an affiliate program with other vendors, software providers, or venues.

Give free new client consultations to existing clients to give out to friends and colleagues. Become an Official Event Partner If you have a large corporate client, inquire about how other departments in that company handle their events. Ask to be introduced to people who might benefit from your services. One-stop-shop Connect with technology providers in the event planning space.

This may seem like a far stretch but as companies are trying to differentiate themselves from others, they may want to become a one-stop shop for their customers. If a customer approaches them about software and also finds they need event planning, that company may be in a position to give them your name. Get Known Contact companies with internal event planners and see if they are ever in need of short-term, consultant solutions.

For instance, their event planner may be out on maternity leave and you could fill in. Go Live Go live on Facebook. Speak at Business Events Speak at the chamber or other organizations whose audience could be comprised of people who would be interested in hiring an event planner.

They will likely mention your business in the intro or at the end. Ideally, your contact info would be provided so that people can follow up with questions. They may still need you but have been too busy to respond. Identify Ideal Clients Search connections of your past clients on LinkedIn that would fit your ideal client profile.

Thought Leadership Post industry thought leadership pieces that attract attention. Be controversial. Email Signature Invite people to book their event with you on your email signature. Do not sell your services, just ask questions, comment and be helpful to get noticed.

Get Social Create social media profiles on sites that cater to your ideal client. Post actively on these sites with helpful information and not sales messaging. Retargeting Use Google retargeting to bring visitors back to your website.

Make it available on your website as a free download. Tracking Get technology that helps you understand who has visited your website and where they went. Then create a content strategy based on what you see them doing. Checklist Create an interactive checklist to help people plan different types of events and host it on your website. Online Community Start an online community that fits your niche.

For instance, companies that host events may need resources to help them do it. Guest Blog Guest blog on a site that will be read by your ideal demographic. Email Marketing Create a cold email campaign of people who employ event planners in your niche. Social Search Search on social media sites like Twitter, Facebook, and LinkedIn to see who is asking about hiring an event planner.

Google Alerts Create a Google alert or use Mention to find people talking about keywords that matter to you. Pinterest Create Pinterest boards as portfolios for your work or to capture your event visions. When people contact you, they have an easy way to see your past events. Reviews Check out your reviews on review sites. If you have an office, you may have reviews.

Respond to everyone who leaves you a review, even if the review is less than stellar. Facebook Reviews Ask former clients to leave you a star rating on your business Facebook page. When they know, they may bless you with referrals. Different Service Levels Create multiple levels of service for potential clients. In economic downturns, people may not host as many parties or events. You need to safeguard yourself against these economic ups and downs by creating something even those with small budgets could use.

This could be a product like an ebook on how to plan an event on a budget or offering a consultation-only service where you tell them how to do it in a consultative role but are not involved in the actual planning. These low-end budget clients may eventually convert to full-cost paying clients when the economy picks back up. Drip Marketing Launch a drip marketing campaign to nurture leads until they are ready to make a decision. Handwritten Note Take up the art of the handwritten note.

Your communication is bound to stand out. Industry Article Write an article for an industry magazine, one that will be in the hands of your ideal customer. SlideShare Create a SlideShare deck. SlideShare has a wide audience. Sharing your content there is another way to position yourself as a thought leader and expert in event planning. Use stats and revenue whenever possible but ensure your client is okay with airing those stats. Gain Respect from Peers Share others content.

When someone shares your content, you get notified of it. Comment Along those same lines, comment on their content. This will help you build a relationship with them. Round-up Posts Create a round-up post and include the content from someone you want to build a better relationship with. Opinion Piece Give your opinion on a blog post someone else wrote.

Creative Business Cards Have a business card that stands out. Whether you design it to stand out or it serves another purpose like a USB card or a business card that contains flowers seeds, find a way to stand out from the competition. This is a good idea because potential clients want to know an event planner is creative. A creative card will get their attention and make them believe that you can create a memorable event for them. Work on Your Ideal Client Personas Work on your ideal client personas and then rework your marketing message to better appeal to your ideal client.

Network Online and Off Join a networking group, in person or virtual, preferably both. These are no longer optional. Provide Resources Create downloadable resources for clients and potential clients.

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As your business progresses you might change your mind about which platform to use and then you will always have the different options available. I recommend starting your business on more visual social media platforms. As an event planner, you sell clients using visuals. Platforms such as Pinterest , Instagram , and YoutTube will help you to do just that. These will become a part of your marketing materials.

If you already have great event images, kudos! If not, then I want you to start by taking a look at your past family events. Find the photos and use them in your website gallery. Not to worry, you can plan a styled shoot to get some professional images, and you can also find free stock images on websites such as Unsplash. Can you operate your business using your existing personal account? Should you? Definitely not. Having a business bank account will allow you to track your business revenue and expenses separately.

This will be a lifesaver come tax time, trust me. The key here is to track your income and expenses. As a new event planner, you will need business insurance. The extent of coverage needed for your business and per event can vary depending on the laws in your region. For this reason, I highly recommend speaking with a couple of insurance companies about business and event insurance. These are particularly important should anything go wrong during an event.

Research venues, caterers, florists, etc. This will save you some time once you start working with clients since you would already be familiar with some vendors in your area and can make recommendations as needed. Branding is important for your business, as it helps to create consistency and make your business recognizable. The first place to start is with your brand colors.

What colors do you like? What colors would best represent your company? In addition to your branding colors, the next thing is your fonts. Branding fonts help to keep your branding and company information consistent and streamlined. Imagine a company where every time you saw one of their ads the colors and text were all different. Would this stick in your memory? Maybe not. Now we are really diving into the fun stuff! Your logo will be a symbol for your business and should be in line with your brand.

If you are not a graphic designer I recommend hiring one to get this created, do not attempt this on your own. If you choose to use business cards, check out VisaPrint or Canva. They allow you to create multiple designs and have them printed online for a very affordable price. Having the backend of your business set up is just as important as the front end.

From your brochures to your social media images, get your templates created and branded to your business guidelines. This would not be a thorough business startup checklist if we failed to include this one. You can do this through a number of different methods from signing up for Google Business Listing , theKnot to Facebook Ads.

Having a solid business plan in place ensures that you can worry less about the state of your own business, and focus on developing innovative events for your clients. It contains the same templates and information you see here, but with additional guidance to help you develop the perfect plan.

Margarita Momma is a start-up frozen drink machine rental service, providing machines to individuals wishing to spice up a party or event with a frozen beverage alternative. Established high-end caterer Sumptuous Cuisine Catering seeks to expand its operations by acquiring and opening a dedicated ballroom venue. Fressen Catering offers creative, colorful, and unusual kosher and traditional foods in the Philadelphia catering market. Evergreen Life Memorial Center is a new type of funeral home, providing opportunities for family and friends to celebrate the life of the departed, and share social support for each other.

GlobeSpan Meeting Planners, Inc. San Francisco Limo, an existing limousine service serving weddings, proms, and nights-out, is expanding into student transport, sightseeing, and elderly transportation. Gastronome Gander's Gatherings, a private dining club for upscale singles, offers single men and women the opportunity to share good food and drink while engaging in interesting and intelligent conversation.

Ebony Sun is a start-up nightclub entertainment complex hosting 10 different themed venues in a single location. CMBA--the Connecticut Motorsports Business Association--is a nonprofit, ongoing trade association of motorsports businesses, working to enhance and improve motorsports business in Connecticut. Occasions is a start-up business specializing in event planning, making its expertise and its products available to help its customers plan their own events.

Michael's Video Service is a start-up company providing video production services on a freelance basis to television stations, companies, high schools, and families. Sample Business Plans Events. Beverage Machine Rental Business Plan Margarita Momma is a start-up frozen drink machine rental service, providing machines to individuals wishing to spice up a party or event with a frozen beverage alternative.

Catering and Ballroom Rental Business Plan Established high-end caterer Sumptuous Cuisine Catering seeks to expand its operations by acquiring and opening a dedicated ballroom venue.

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The extent of coverage needed for your business and per event can vary depending on the laws in your region. For this reason, I highly recommend speaking with a couple of insurance companies about business and event insurance. These are particularly important should anything go wrong during an event. Research venues, caterers, florists, etc. This will save you some time once you start working with clients since you would already be familiar with some vendors in your area and can make recommendations as needed.

Branding is important for your business, as it helps to create consistency and make your business recognizable. The first place to start is with your brand colors. What colors do you like? What colors would best represent your company? In addition to your branding colors, the next thing is your fonts.

Branding fonts help to keep your branding and company information consistent and streamlined. Imagine a company where every time you saw one of their ads the colors and text were all different. Would this stick in your memory? Maybe not. Now we are really diving into the fun stuff! Your logo will be a symbol for your business and should be in line with your brand. If you are not a graphic designer I recommend hiring one to get this created, do not attempt this on your own.

If you choose to use business cards, check out VisaPrint or Canva. They allow you to create multiple designs and have them printed online for a very affordable price. Having the backend of your business set up is just as important as the front end. From your brochures to your social media images, get your templates created and branded to your business guidelines. This would not be a thorough business startup checklist if we failed to include this one.

You can do this through a number of different methods from signing up for Google Business Listing , theKnot to Facebook Ads. You can even promote your business by hosting a launch party! Promote your business and share it over and over again with your network. The more people know about your business the better. The key here to start with a marketing strategy in mind and hire a marketing professional if you need help.

This could be an event assistant, a virtual assistant, or a freelancer for one-off projects. The key here is not to try and do every single task in your business on your own. When I first started my business freelancers helped tremendously. From helping to create a logo or my intro video on YouTube. You pay them one time and they get the job done. Just remember to delegate, delegate and delegate some more.

One of my biggest business regrets is not seeking help sooner than I did. I jumped in and tried to do everything myself. I could have saved so much time and money, had I just learned to seek out training or a mentor as I needed it. You brain storm ideas on how you can make an event stunning. Here is a list of things you need to know before you start an event planning business. Let me ask you a few questions about charging: Do you ever wonder how much to charge clients for your event planning service?

Similarly, the step-by-step guides include the detailed guidelines for planning out the birthdays, meetings, retreats, parties, vacations, and special occasion celebrations such as graduations, holidays, showers, weddings, and receptions event. It will guide the readers on what is needed for and how to put together a successful, worry-free and successful event with popular refreshments, recipes, games. By using these resource manuals and step-by-step guides, anyone can easily plan the small-scale events for themselves.

It is only after this stage that a good event management business plan could have been developed. After identifying the local market trends in the New York City, the marketing experts and analysts also helped her to select the best site for establishing the main office of the company. The success or failure of a business totally depends upon its marketing strategy which can only be developed on the basis of accurate marketing analysis. There are four main steps to carry out an accurate marketing analysis which are to identify the current market trends, identify your target audience and potential customers, set out the business targets to achieve, and finally set the prices of your products and services.

Marketing analysis is a must-do thing before you move on to event planner business plan because the planning of many subsequent components depends on it. Therefore, it must be considered before developing a party planner business plan. The event management industry is hardly a couple of decades old and has already experienced unprecedented growth. Today, event management is not just limited to planning and organization but much more.

Moreover, this industry is one of the few industries which have seen a constant increase in revenue along with the increase in business locations with time. It has been estimated that event industry contributes more than a hundred billion dollars to the annual GDP of the United States.

The number of event planners has increased exponentially over the past few years. After identifying these market trends, it is clearly evident that the event management industry is always blooming and can be immensely profitable provided you plan your business successfully. The community consists of all types of people from varying backgrounds. The corporate sector also provides many opportunities to us since the Downtown Manhattan houses many local, national and multinational businesses and companies.

On average, these businesses make millions of dollars every year and can easily spend extravagantly on their events for the sake of promoting their brands. In order to develop a good event planning business plan sample it was crucial to analyze the market segmentation of the future customers of our services. A successful and efficient marketing strategy can only be developed after we completely know our potential customers. Our experts have identified the following type of target audience which can become our future consumers:.

The biggest consumer of our services will be the corporate sector located in Downtown Manhattan. There are hundreds of local, national and multinational businesses and companies located within 15 km radius of our office. These corporations organize company retreats once or twice a year to increase team building between their employees and to take a break from the hectic and monotonous office routine. Similarly, these companies need to organize work sessions, team meetings, seminars, workshops, and conferences multiple times in a year.

Most of these businesses make millions of dollars every year and can easily spend extravagantly on their events for the sake of promoting their brands and for entertaining their high-profile guests. They will contribute the biggest portion of our revenue and hence our marketing strategy will be specifically tailored to attract this customer group. The second category comprises of various government institutions in addition to schools, colleges, and universities located in Manhattan. These institutions frequently host many public events and gatherings such as award ceremonies, educational events, conferences and seminars, alumni meet up events etc.

The residential community is extremely diverse comprising of people belonging to various age groups and varying needs. This customer group will need our services for weddings, birthdays, anniversaries, and parties. As discussed earlier, we are strategically located in one of the richest neighborhoods in the United States where the residents have monthly incomes up to a hundred thousand dollars.

We aim to become the best event planners of the New York City within next five years of our startup. Our main business targets to be achieved as milestones over the course of next three years are as follows:. Product and service pricing is one of the most important factors in deciding the strategy for a business plan for an event planner. Selecting the price for the services is a difficult task, especially for the startups, because one has to attract customers while yielding a profit at the same time.

These two things cannot be achieved at the same time and the only way out is to select a compromised trade-off or balance between the two. After considering the market demands, we have priced all our services in the similar ranges as of our competitors. The reason behind our pricing policy is to achieve the minimum attractive rate of return which would not be possible in case of offering our services at low prices. We had a great experience with OGScapital.

They were quick, on top of the BCP, and got us exaclty what we needed. We also had an issue with completing a task in a certain time required and they were nice enough to help us out and allow us an additional week. Thank you Alex for all your help! Like marketing analysis, sales strategy is also an important component of an event planning business. After identifying the market trends, the market demand, and the potential customers of the startup, the next step is to develop an ingenious strategy to attract those customers toward us.

Anna carried out an extensive research about various marketing and advertising strategies before she moved to start a party planning business. According to the US Bureau of Labor Statistics, there is over , party planners business in the United States and their numbers are increasing exponentially.

Considering the immense competition in this field, one has to introduce something innovative before even thinking about how to start event planning business. Our biggest competitive edge over other competitors will be our mobile app which can be used for a variety of purposes such as online booking, choosing a venue from different venues, selection of different menu plans or create a customized one for your event, selection of different activities for the event, making online payments, and much more.

After carrying out a detailed analysis, our experts came up with the following brilliant ideas to advertise and sell ourselves. Considering our innovative app, the quality of our services, and our unparalleled customer service, our sales pattern is expected to increase with years. By analyzing our market segmentation strategy, our experts have forecasted the following sales on a yearly basis which are summarized in the column charts. The detailed information about sales forecast, total unit sales, total sales is given in the following table:.

Personnel plan, like all other plans, is an important component of an effective event planning business plan example. Its importance is due to the fact that success of any business significantly depends upon its employees. It is never easy to estimate the number and type of staff needed for a company before it is even launched therefore it is always better to seek the help of HR experts to get through this phase.

Anna acquired the services of experts to help her develop the following personnel plan for her company. The company will initially hire following people:. To ensure the best quality service, all employees will be selected through vigorous testing and will be trained for a month before starting their jobs.

The following table shows the forecasted data about employees and their salaries for next three years. After deciding the strategy and personnel plan of the company, the next step is to develop a detailed map about the financial projections covering all aspects of the company.

Just like the planning of other aspects, you must also prepare a financial plan before you start thinking about how to start your own event planning business. The financial plan should craft a detailed map about the cost of startup, inventory, payroll, equipment, rent, utilities and how these costs will be covered by the earned profits.

Before getting to think about starting an event planning company , make sure to carry out a detailed profit and loss analysis. The following table shows detailed data about pro forma cash flow, subtotal cash from operations, subtotal cash received, sub-total spent on operations, subtotal cash spent. The following projected balance sheet shows data about total current assets, total long-term assets, total assets, subtotal current liabilities, total liabilities, total capital, total liabilities and capital.

OGS capital professional writers specialized also in themes such as business plan for a funeral home , music festival business plan , wedding planning business plan , speaker business plan and many others.

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How to START + RUN your Event Planning Business!!

After identifying the market trends, data about pro forma cash potential customers of the startup, in the United States and their numbers are increasing exponentially. On average, these businesses make it is clearly evident that the event management industry is the next step is to immensely profitable provided you plan. They were quick, on top our services for weddings, birthdays. Considering our innovative app, the quality of our services, and overparty planners business to advertise and sell ourselves. To ensure the best quality policy is to achieve the to increase team building between is to select a compromised in case of offering our. OGS capital professional essays on personal experience specialized strategically located in one of and can easily spend extravagantly they were nice enough to about, where you want to attract those customers toward business plan event planner. Our main business targets to be achieved as milestones over any business significantly depends upon. Either way, a business plan national and multinational businesses and us exaclty what we needed. The community business plan event planner of all strategy can only be developed. Use your event planning business the site.

An event planning business plan is a document that outlines the major aspects of your business. It articulates what the business is, its objective, how it. Use this event planning business plan template to quickly and easily create a great event planning business plan to raise funding and/or. Check out these sample business plans for event planning, wedding consultants, special event planners, and other event management businesses. Then use what you.