An event planning business is one that involves all activities that makes a particular even a successful one.
Event planning entails conducting research, finding a site, creating an event design and decoration, arranging for food and entertainment, sending invitations, coordinating activities of event personnel and conducting evaluations of an event.
Event Planning is an exciting career that entails generating excellent occasions, which varies from private parties to prolific weddings and high-powered business conferences.
If you love problem solving, organizing, working with people and doing something a little different on a daily basis, event planning may be the career for you. It’s also an exceptional industry to start your own business in.
TYPES OF EVENTS IN EVENT PLANNING
It is essential to decide what type of services you will be providing when you want to start an events planning business.
There are various types of event planning, so you can either concentrate on a specialty or mixtures, but you must define your niche as this will help you focus.
There are the corporate events which include:
- Product launchings
- Christmas parties for companies
- Promotional Events
- Marketing Events
There are private occasions which include:
- Valentine’s Day celebration
Other types of events include:
- Educational tours
- Award nights
- Fashion Shows
- Beauty Pageants
- Political Rallies
- Sport Events
This is however evidence that there is a readily large market that awaits you.
TYPES OF SERVICES TO OFFER AS AN EVENT PLANNER
It is also imperative for you to specify the kind of services you will like to offer, this depends on your skills and capacity.
The various services you can offer include:
Full Planning and Management Service
This entails general management of an event right from the beginning till the day of the event itself. The clients will only give you their basic preferences and approvals as you make all the best available choices for the event.
Mid- management Service
This kind of service involves initial planning by the client in questions and the client is just in need of an event planner to execute his/her plans. In this type of service, you will be working closely with the clients as the management process progresses.
On-site Management Service.
In this type of service you will only be hired to oversee and monitor the flow of event on the day of the event as the clients would have already done the full planning and coordination of the event.
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BENEFITS OF EVENTS PLANNING BUSINESS
If you are considering starting an event planning business, there is a readily existing profitable market awaiting you. An event will always need preparation and planning no matter how large or little it is as families, corporations and organizations concerned may not have the time, resources, expertise or tendency to the event in order; they turn to professional event planners to manage everything for them. They seek your help as an event planner to turn their events into an outstanding and triumphant one.
Note that an event planning business is not influenced by decline in the economy. In a recession or boom, there is always a market for event planning as there will always be parties, business lunches and meetings, birthday parties, wedding receptions and more.
WHAT YOU WILL NEED TO START AN EVENT PLANNING BUSINESS
- Starting an event planning business needs a blend of education, experience and outstanding networking. This is one business where the significance of networking cannot be overstressed. In fact, networking is the most essential aspect of building a career in event planning. Having the right contacts can help open doors quickly.
- Earning professional certifications and getting involved in trainings based on your event planning specialization will give you an edge. Many clients, predominantly those from the corporate sector, will look out for this quality before engaging an event planning professional because it gives them the assurance that they are dealing with a professional and someone well-experienced in the field. This will give you a professional outlook.
- You will also need a business plan as the best point to start any business venture is to plan, plan, and plan some more. The clearer your road to success becomes the more likely you are to go down it. Any action without a place in a plan is a wasted action. A business plan therefore will help define your goals and keep you focused.
- Decide if you will like to run your business from home or have an office for your event planning business. You should start small from home before deciding to expand as your business grows as this will help save cost
- As an event planner you will also need to develop the following qualities to make your business a success. You must:
- Be able to control costs – Be Creative and imaginative
- Ensure fulfilment of client’s vision and demand. – Ability to think fast on your feet
- Possess a good level of energy and stamina – Be able to work under pressure
- Be well-organized and efficient – Have strong communication skills
- Be self-motivated and driven – Ability to multi-task and work tight schedules
These qualities will help you in making your event planning business a successful one.
- Get a business name that will be easy to remember and catchy for your business.
- Register your business legitimately
- Get the necessary insurance.
- Obtaining the licenses and permits that you will need to run your event business.
- Secure funding for your event planning business. In event planning business, you will need to have an operating budget, and it will be essential to have access to a secure base of cash while launching your firm. While it is possible to establish a business on limited funds, it is still important to have enough money to start your business and cover any living expenses while waiting to become profitable.
- You will need to have an extensive database of contacts, vendors and suppliers. All your vendors and suppliers must be dependable and trusted as you will need to rely on them for all you need to make sure you successfully plan an event.
MARKETING YOUR EVENTS PLANNING BUSINESS
- Market your event planning services with brochures, flyers and business cards.
- Exhibit at trade shows and fairs that focus on your kind of events.
- You could have a website and port folio of your work as you grow in the business
- Have a list of event centres in your area and make calls to their coordinators informing them of what you do.
- Tell your friends and relations about what you do
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