How to Start an Event Planning Business
Starting an event planning business can be challenging. However, it can also be very rewarding if it is successful. Keep reading to find out more.
You might find that you don’t enjoy working for someone else in the corporate world. Instead, you could start your own business in something you enjoy. A perfect example is an event planning business. An event planning business is perfect if you enjoy coordination and organising events. It is an easy way to make money for something that you are passionate about. You can also conduct your business from home instead of working those long contractual hours. Creativity is also a big part of event planning businesses which means you can make your own rules. Although it can be challenging at the initial start of the business, it will eventually profit you. Following this guide will help you successfully start your event planning business.
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Identify your skills
An event planner needs to have a particular set of skills. It is essential that you have an outgoing and social personality because you will be interacting with a lot of people. You would need to have good communication skills to do this. Moreover, organisation skills are also vital since you are coordinating events that people are relying on. You will face many changes, cancellations and surprises when planning events. Therefore, it is important that you are creative and able to adapt to these issues along the way. This kind of job involves a high engagement with customers and a fast paced working environment. Make sure you have the skills to do this job before you proceed.
Having prior experience is always a prerequisite for any successful business. Although it is good to advertise where you have previously worked, this might not be sufficient. You should always get your skills certified. You would be less likely to trust someone without formal certifications than a company with a lot. There are a wide variety of courses at different universities which will give you a diploma in event management. It is worth giving yourself an advantage over other companies by certifying your skills.
Identify your target market
It is essential to identify the focus of your business and what kind of events you want to design. You can decide to target a specific market or have a wide variety. The main types of events that exist are as follows:
- Celebration: These kinds of events are fun and exciting. They include fairs, birthdays, weddings, receptions, anniversaries and more. There is a lot of focus on appearance and activities here.
- Educational: These events are more formal and aim to give out information. They include meetings, graduations, conferences and more.
- Promotional: These events are generally celebratory and informative. These include product launches, political events and fashion shows.
- Commemorative: The goal of these events are to remember important figures. They are formal events and include memorial services and civic events.
The best way to approach this is to start with a niche business and then adopt other styles. This ensures that you are not taking on too much at the start of your business. Moreover, you can develop your skills and expand your business. You will also need to adjust the number of employees you have and your resources accordingly.
The best way to get your business out there is by advertising it. Social media is the cheapest and easiest way to market your business. Sites such as Facebook, Instagram and even Linked In can help you connect with your target market. Alternatively, you can go for paid advertisements on billboards or even hosting a networking event.
Take care of the legals
An event planning business can be challenging yet rewarding. It is essential that you identify your skills and that you have the correct personality for this job. Moreover, you should get your skills certified so you have an advantage over other businesses. You should also identify your target market and gradually expand your clientele. Marketing your business is also an effective way to get your business known and growing. Finally, ensure all of the legal aspects of starting your business are satisfied. Contact a business lawyer if you need more information.
Aditi currently works in the Content Team as a Legal Intern for Lawpath. She is in her third year of a Bachelor of Law and Bachelor of Commerce (Accounting) at Macquarie University. She is particularly interested in Property and Criminal Law.