Business plan for an event planning business

Okay, so we have considered all the requirements for starting an event planning business.

Business plan for an event planning business

If you take the time to learn how to plan business events, then you will find that each successive business event becomes a bit easier to plan. A business event is an investment by your company in marketing a product or some other aspect of your business.

To maximize the return on your investment, you need to develop a event planning process that works.

Event Planning Sample Business Plan | Entrepreneur

Determine the scope of your event by deciding what kind of impact you want to make. For example, you may decide that a product launch should be done in a large hall while an informal customer appreciation party would be suitable for your warehouse. Make a list on a piece of paper of everything you want to accomplish with your event, and then use that list to determine the scope of the event.

Compile a guest list that will include every person you want to invite to the event. If you plan on having an event that is open to the public, then you will still need to estimate what you think attendance will be.

Consider a theme for your event. For example, if you are having a customer appreciation event then it may be interesting to make it a costume ball. When you develop a theme, you can then begin to determine how you want the event to be decorated.

Develop a list of event decorations, speakers and setup costs, including catering and hired help necessary to run the event. At this point you know the scope of your event--how many people you will want to attend, and what kind of displays and decorations.

This will allow you to determine if you will be having the event at your facility, or if you will need to rent a hall. The rental cost will also have to figured in as part of your event setup costs. Circulate a description of the event among your employees and ask for volunteers to help run the event.

The less staff you have to pay, the more money you save on the event. Determine how you want to advertise your event. If you are doing an invitation-only event, then your only cost will be for the invitations and postage.

If you are doing an event that is open to the public, then you will need to put together a list of advertising costs for mediums, such as radio, television and print.

How to Start an Event Planning Business from Home (Updated )

Compile all of your information into a budget. The budget should contain detailed aspects of how the money will be spent, how much each line item will cost and the grand total for the event. Add an extra 20 percent to all costs to allow for changes in the plan or problems during event planning and execution.Many Event Planners start out working from home.

This can be a great model for setting up an event planning business as it keeps overheads down in those critical early stages of trading and can maximise productivity. Your Business Plan 39 Executive summary 39 Personal experience and background 40 Description of service 40 Sales and marketing strategy 40 Forecasts and projections 40 Financial Management 41 Start & run an event planning business.

START & RUN AN EVENT PLANNING BUSINESS. On the average, it is the practice for most standard event planning companies to handle all aspect of event planning that ranges from wedding planning, to annual general meetings (AGM), to corporate events, to end of year parties et al.

Having a marketing plan for your business is also a vital part when starting an event planning service. You must know the strengths, weaknesses, opportunities and threats of your business. You must know the strengths, weaknesses, opportunities and threats of your business.

Event Planning Business Plan. A good example of an event planning business plan is provided by Corporate Retreat Professionals, an event planning service offering training retreats for corporate professionals, along with public relations and product launch events.

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.

business plan for an event planning business
A Sample Event Planning Business Plan Template