Event Planning Business Plan Sample

Event Planning Business Plan Sample-56
"If you're working in one special events area, there are many directions in which you can expand.If you're just entering the profession of special events, there's a lucrative market awaiting you on many fronts."According to Goldblatt's research, profits in this industry continue to rise.

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This question has a simple answer: Individuals often find they lack the expertise and time to plan events themselves.

Independent planners can step in and give these special events the attention they deserve.

Also consider working to become a CSEP (Certified Special Events Professional) or CMP (Certified Meeting Planner).

These designations are given out by ISES and MPI, respectively.

This chart lists the startup costs for two hypothetical event-planning services.

The first business is homebased and has no employees.Many corporations, and some members of the general public, look for these designations when hiring planners.Because of the research and study it takes to become a CSEP or CMP, clients know that these planners are professionals.Charities and nonprofit organizations host gala fundraisers, receptions and athletic competitions, among other events, to expand their public support base and raise funds. Social events include weddings, birthdays, anniversary parties, bar and bat mitzvahs, Sweet 16 parties, children's parties, reunions and so on.Thousands of these events occur each year, and although the large ones require specialized event planning experience, you may find smaller local events to start out with. You may decide to handle all these events or just specialize in one or more of them.The high-end business occupies 1,000 square feet of office space.The owner/manager of this business employs a full-time junior planner and a part-time bookkeeper, as well as temporary employees who handle clerical work and who may help prepare for various events.He attributes the industry's good health to several factors, including the improved economy and the trend of corporate America to outsource their meeting-planning functions.Since you're not some tech startup bidding for programmers, you can get started without a lot of money. Generally speaking, special events occur for the following purposes: This list isn't an exhaustive one, but as the examples illustrate, special events may be business related, purely social or somewhere in between.Related: How to Start a Business With (Almost) No Money This question actually breaks down into two questions: What kinds of events are we talking about? Now we move to the second question: What is event planning?Planners of an event may handle any or all of the following tasks related to that event: How many of these activities your business engages in will depend on the size and type of a particular event, which will, in turn, depend on the specialization you choose.

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