Event Planning Company Business Plan

Event Planning Company Business Plan-32
It will also depend, to a lesser degree, on your own taste and lifestyle choices.Keep in mind that while working from home will keep your costs low, you can't start any but the smallest of event planning business on a shoestring.

It will also depend, to a lesser degree, on your own taste and lifestyle choices.Keep in mind that while working from home will keep your costs low, you can't start any but the smallest of event planning business on a shoestring.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?

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Consider getting a degree or certificate from a local university in event planning or management.

A list of colleges and universities offering educational opportunities in this field is available from Meeting Professionals International (MPI).

How much money will you need to start your event planning business?

That will depend on the cost of living in the area your business serves and whether you work from home or rent office space.

Just a few years ago, Goldblatt says, the average profit margin for an event planning entrepreneur was around 15 percent.

Event Planning Company Business Plan

His most recent studies, however, show profit margins can be as much as 40 percent."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.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.Goldblatt is the founder of International Special Events Society (ISES), the founding director of the Event Management Program at George Washington University, and co-author of The International Dictionary of Event Management."Suffice it to say, the marketplace is large enough to support and sustain your endeavor," says Goldblatt.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.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.

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