How to Start an Event Planning Business

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If you love meeting new people, and you love hosting parties, then event planning may be the business for you to start. From christenings to wedding receptions and corporate shindigs, there are always lots of events going on that call for the services of a highly organized and efficient person. So, could this be you? To begin with, you need to conduct some research to establish what people want and why they want it. Doing both primary and secondary research will allow you to see just who would require your services, and most importantly what price they are willing to pay.

Decide What Type of Events You Are Going to Provide

As an event planner you cannot expect to organize and host every type of event, unless of course, you have a great big team behind you. So, rather than trying to appeal to everyone, why not narrow down the type of events you offer and the services you provide. For example, you could focus on business clients, and you could exclusively organize corporate events, networking events and even awards ceremonies. Or, you could focus on the wedding industry. Hosting reception dinners, dress rehearsals or engagement parties. Doing your research early on will allow you to clearly see which market you should be addressing and why.

Work Out Who Your Clients Will Be

Once you have established what type of events you want to organize or host, you then want to focus your attention on establishing who your clients will be. For example, if you are going for the wedding markets, are you going for high-end clients with budgets of $100,000, or are you going for those with a more modest budget of around $5,000. Trying to appease clients in different price ranges will leave you feeling exhausted and constantly chasing your tail. So, decide which price point you are going to target and then stick to it. It is much easier to market and sell your event planning business if people know what events you cater for.

Get Together Your Service Providers

Great events rely on several services and individuals working together for a united cause. Behind the scenes it is important that everything runs like clockwork. When everything behind the scenes runs well then guests and attendees are blissfully unaware of how much work, time and effort have gone into organizing and hosting the event, and this is what will make it a success. Having a list of trusted service providers such as those that offer a bartending service in Denver or those that focus on making elaborate food and cakes, will ensure that you can fulfill your clients’ dreams and desires easily and quickly. Compiling lists of providers will take time when you set up your business, but as you start to plan and host events you will quickly see just who you can turn to and who you can depend on, even at the last minute, and this is always super useful in events planning.

It is important to remember that when you are organizing and hosting events, some can be up to two years away. As some events are further away than others it is important that you clearly set out your payment terms and policies. Be honest and open about your costs upfront as nobody likes surprise bills.

 

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