Tips to Start an Event Planning Business

Starting an event planning business can be an exciting and rewarding endeavor. With the right preparation and knowledge, you can launch a successful company in this growing industry. From weddings and corporate events to trade shows and concerts, skilled event planners are always in demand.

Follow these tips to start your own event planning business:

Conduct Market Research

Before diving into starting your business, research the current event planning market. Learn about your potential competitors and what services they offer. Identify opportunities to differentiate yourself. Talk to event planners in your area to get insights about the local industry. This market research will help you hone your business plan.

Consider these important questions:

• What types of events are most popular in your area? Is there a need for certain niche services?
• How are competitors pricing and packaging their services?
• What are some underserved client groups you could target?
• How is the event industry overall expected to grow in your region?

Having a strong grasp of your local market will allow you to stand out from the very beginning. You’ll be able to identify the most promising opportunities.

Craft a Business Plan

Every new business needs a detailed business plan. This is your roadmap to success. While business plans can be lengthy documents, here are the key sections your event planning business plan should include:

Executive Summary

Briefly summarize your company and your objectives. Explain the services you will provide. Include your mission statement. This section should whet readers’ appetite to learn more.

Company Description

Go into detail about your company. When was it founded? Share your company’s legal structure, industry niche, and competitive advantages.

Market Analysis

Use the research from your initial market research to analyze your industry, target audience, and competitors. Discuss growth opportunities. Back up claims with data.

Services

Describe exactly what event planning services you will offer. Event design? Venue selection? Catering coordination? Decorator sourcing? Managing RSVPs? Day-of coordination? Break down every service.

Marketing Plan

Map out strategies for attracting clients across advertising, digital marketing, networking, referrals, and other channels. Outline specific marketing activities and budgets.

Financial Plan

Include projected startup costs and funding sources. Provide projected sales and profit for the first few years. Detail your pricing structure. Include financial statements like an income statement, balance sheet, and cash flow statement.

Having this comprehensive business plan will prove invaluable when seeking funding and partners. It will also keep your business strategically aligned as you launch and grow.

Build Your Portfolio

An impressive portfolio is a must-have for attracting event planning clients. Include photos, videos, client testimonials, and detailed descriptions of past events you’ve coordinated successfully. Even if you’re just starting out, organize any relevant projects from school, internships, or volunteer work.

Some ideas for early portfolio additions:

• Family or friend events you coordinated
• Photos from events you attended showcasing your design skills
• Testimonials from past employers about your event skills
• School or internship event projects
• Descriptions of hypothetical/aspirational future event plans

Choose samples that highlight your unique event style and skills. A portfolio will give potential clients confidence in your abilities before hiring you.

Establish Your Brand Identity

Your brand identity covers your company name, logo, tagline, colors, messaging, and visual style. This cohesive identity will convey professionalism and get clients excited to work with you.

Your brand identity should communicate your unique approach and market niche. For example, if catering to artsy clients, an elegant, minimalist identity could work well. If focusing on big corporate events, sleek and bold may suit your brand better.

When defining your brand:

• Pick a memorable company name that conveys your style.
• Create a polished, readable logo.
• Choose branding colors that reflect your personality.
• Craft a tagline that summarizes what you offer.
• Use clear, consistent messaging in marketing materials.

Your website, business cards, proposals, and other collateral should all share this professional brand identity. This will make your company instantly recognizable.

Form Your Business Entity

Decide how to legally structure your business. Common options for event planning companies include:

• Sole proprietorship
• Partnership
• Limited Liability Company (LLC)
• S Corporation

Consider liability protection, taxes, and ease of setup when choosing your business structure. An LLC or S Corp are often good choices for small event planning businesses, balancing pass-through taxation with liability protection.

Consult an accountant or attorney to ensure you form the right type of business for your situation. Officially register your business by filing formation documents with the state.

Get Necessary Licenses and Permits

Research local license and permit requirements for event planning businesses in your area. These may include:

• Business license – Required in many cities/counties to legally operate a business.
• Sales tax permit – Needed if selling any taxable goods or services. Allows you to collect and remit sales tax.
• Food service permit – May be required if serving food, even occasionally. Varies based on location.
• Liquor license – Needed for serving alcohol. Regulations differ in each state/city.
• Special event permit – For coordinating large-scale public or outdoor events.
• Insurance – General liability insurance or other relevant policies to protect your business.

Apply for all necessary licenses, permits, and insurance before taking on clients. Stay compliant as regulations change. Keep permits current by renewing on time annually.

Select Your Software

Specialized software helps professional event planners stay organized and efficient. Choose software to assist with:

• Client proposals and invoices
• Event planning timelines
• Room/seat layouts
• Inventory management
• Staff schedules
• RSVP tracking
• Email marketing
• Accounting

Popular options include event management systems like Planning Pod and tools like QuickBooks, Mailchimp, and Trello. Select solutions tailored to your unique event services. Using the right tools can take your business productivity to the next level.

Set Your Rates

One of the most important decisions when starting an event planning business is determining what to charge clients. Consider these factors when setting rates:

• Overhead expenses – What are your operating costs? Account for expenses like software, insurance, marketing, transportation, and staff. Price your services to profitably cover costs.
• Experience – Clients pay a premium for seasoned event planners with impressive portfolios. Don’t undervalue your expertise.
• Competitor rates – Research competitors’ pricing in your region for similar services. Align your rates somewhat to market rates.
• Client budgets – What types of budgets do your target clients have? Make sure your rates are realistically accessible.
• Value delivered – What is the dollar value you bring clients by expertly handling their events? Price accordingly.

Many event planners charge hourly consulting rates, package pricing for bundled services, or à la carte rates for specific tasks. Offer multiple options. Raise prices over time as you gain positive reviews.

Write Client Contracts

Client contracts are vital in event planning to outline agreements and payment terms. Well-written contracts prevent misunderstandings and protect both you and your clients.

Contracts should cover:

• Exact event details like date, location, number of guests, etc.
• All services you will provide before/during/after the event.
• Fee structure and payment schedule, including deposits/refunds.
• Cancellation policy spelling out financial ramifications if client cancels.
• Liability and responsibility for aspects like food safety, alcohol serving, and guest safety.

Have an attorney review your contract template before use. Let clients know contracts protect all parties involved. Use contracts consistently for every event.

Equip Your Home Office

A functional home office minimizes distractions and powers productivity. If planning events from home, outfit your workspace with:

• Computer – A high-performance laptop or desktop to tackle demanding event software and tasks.
• Phone – A business cell phone number adds legitimacy. Forward calls to your cell.
• High-speed internet – Faster speeds enable quick cloud syncing and video calls.
• Printer/scanner – Print contracts, proposals, and invoices professionally. Scan event documents.
• Productivity software – Use tools like a virtual phone system, project manager, and email marketing platform.
• Comfortable chair – Invest in an ergonomic chair if spending long hours at your desk.
• Organization – Use folders, cloud storage, and tools like Trello to stay on track.

A home office optimized for efficiency allows you to deliver exceptional service to clients. Deduct office expenses when filing taxes.

Build Your Website

An informative website establishes your business online and attracts new leads. Your website should include:

• Services – Share details about all the event services you provide. Help visitors picture working with you.
• Portfolio – Showcase photos/videos of successful events you’ve coordinated.
• About – Introduce yourself and share your event planning background/philosophy. Build trust.
• Contact – Make it easy for visitors to reach you with booking inquiries. Offer multiple contact options.
• Blog – Publish posts about event trends, planning tips, behind-the-scenes of real weddings/parties, your creative process, etc.
• Testimonials – Sprinkle positive client reviews throughout your site. Social proof matters.

Choose a professional template that allows visitors to easily navigate your site. Refresh content regularly to engage visitors. Use SEO best practices to get found online.

Leverage Social Media

Promote your new business across social media platforms like Facebook, Instagram, Linkedin, and Pinterest. Curate content that reflects your event aesthetic and brand voice.

Share photos of your best events, planning tips, vendor partners, inspirational ideas, special offers, company news, etc. Engage followers and give a behind-the-scenes look at your business.

Run targeted Facebook ads to attract local clients. Partner with complementary local businesses on co-branded social promotions.

Spend time daily managing your social media presence. Leveraging different platforms drives brand awareness and lead generation. Integrate your website and social for cross-promotion.

Network Locally

Networking leads to real event booking opportunities as you build relationships with vendors and local businesses. Here are effective networking ideas:

• Attend local wedding and event expos. Hand out flyers and promotional swag at your booth. Collect business cards to follow up with.
• Contact local wedding/event vendors and propose cross-promoting each other’s services. Offer discounts to their clients.
• Join the local Chamber of Commerce to connect with businesses. Ask about sponsoring or planning their next event.
• Introduce yourself to wedding venues and event spaces. Offer venue tours and sample floor plans.
• Partner with complementary vendors like florists, caterers, photographers on stylized photoshoots to build your portfolio and contacts.
• Attend industry association meetings and network to gain insider knowledge.

In-person networking establishes you as a known professional in the local community. Nurture and leverage key relationships.

Promote Your Business Offline

In addition to digital promotion, use traditional offline tactics to market your new event planning company, such as:

• Print flyers – Design professional flyers and distribute them at local bridal shops, venues, vendor offices, and other high-traffic places.
• Business cards – Always have cards on-hand to give out when networking. Include key services, contact info, and your logo.
• Direct mail – Send postcard mailers announcing your new business to local households. Target by demographics.
• Newspaper ads – Place ads in your local city paper and regional wedding publications. Highlight a strong opening offer.
• Vehicle wrap – Brand your car, van or transport with eye-catching signage when working events. Free advertising!
• Radio ads – Produce 15 second radio spots to resonate with auditory learners during drive times.
• Billboards – Invest in a roadside billboard in high-visibility locations near event venues/areas.

Mix up your offline strategies and provide flexibility for traditional clients. Track responses to fine-tune your most effective marketing platforms.

Develop Industry Partners

Partner with industry professionals to tap into their reach when starting out. Potential partners include:

• Wedding planners – Offer day-of coordination for their larger weddings. Ask to assist with existing events.
• Event design companies – Provide decor and rental services as an extension of their team. Cross-promote.
• Caterers – Develop preferred vendor relationships. Offer clients bundled service packages.
• Venues – Become a preferred on-site coordinator. Offer venue sourcing and booking services.
• Photographers/videographers – Help photograph/film their weddings in exchange for portfolio content.
• Florists – Work jointly on high-end events. Share inspiration and vendor insights.

Partnering allows you to book bigger events early on by leveraging others’ client referrals and experience. Establish strategic win-win relationships in the industry.

Develop a Strong Support Team

Even if starting as a solo event planner, you’ll need to build up a team of assistants and vendors to help execute successful events.

Prospective support team members might include:

• Set-up/teardown crew – For heavy lifting and decorating.
• Bartenders and servers – If alcohol will be served.
• Parking attendants – To manage guest parking at large events.
• Security guards – Handy for high-profile or celebrity events.
• Coordinating interns – Helping with admin tasks and vendor outreach.
• Go-to cleaning crew – For deep post-event cleanups.
• Reliable DJs/MCs – To keep events lively and on-schedule.

Vet all team members thoroughly. See them in action whenever possible. Sign contracts detailing duties, pay rates, arrival/departure times, and policies.

Focus on Client Experience

As an event planner, your success comes down to the experiences you create for clients. Go above and beyond to deliver white-glove service every step and exceed expectations.

Some tips for amazing client experiences:

• Act as an educator to guide clients through the entire planning process. Make recommendations tailored to their needs and budget.
• Show enthusiasm and positivity when interacting with clients. Make planning fun and hassle-free.
• Anticipate client needs before they arise. Address concerns promptly.
• Dazzle clients with thoughtful little extras and surprises along the way. Delight them.
• Keep clients informed of all event details through consistent communication. Leave no question unanswered.
• Capture meaningful moments throughout the event with photos to share later.
• Follow up after events for honest feedback about their experience working with you. Take feedback to heart.

By focusing on client happiness above all else, your reputation will grow, leading to referrals and repeat business.

Continue Learning and Improving

The event industry evolves quickly with new trends, ideas, and tools. Commit to ongoing education so your skills don’t fall behind.

Stay in-the-know by:

• Reading industry blogs, magazines, and books
• Following leaders in the event space on social media
• Taking classes and online courses about event planning
• Attending conferences and workshops
• Joining professional associations like Meeting Professionals International
• Participating in Facebook groups for exchanging ideas/advice
• Interacting with vendors to learn about new products/services
• Touring other events for inspiration about decor, activities, rentals, etc.
• Asking clients open-ended questions to learn their preferences

Make time for self-improvement each week. Continued learning ensures your business offers fresh, innovative events for many years.

Starting an event planning company takes dedicated effort, but these tips will put you on the path to success. Conduct thorough market research, craft a business plan, build your portfolio, define your brand identity, handle legalities and licensing, leverage the right software, set competitive rates, master client contracts, outfit your office, optimize your website, promote on social media and offline, network with vendors, provide exceptional service, and never stop improving. An exciting future awaits when you lay this strategic foundation. Stay organized and resilient through challenges, and you’ll thrive as an event planning entrepreneur!