The event industry is like a huge fun-making machine that unites people from different spheres and with different skills. Running an event planning business requires hard work, but this work can easily grow into a money-making machine for you.
If you have ever been responsible for the organization of any event at least once in your life, be it a birthday party or a family holiday, you can understand all that pain and headache of being ‘an event planner’.
To bring people together at a planned time and place, under any circumstances making them have fun and controlling everything is not that easy as it seems from the start.
And I was always wondering why so many people start an event planning business.
Only when I started it myself, I understood that it is a cool startup idea with zero investment.
So, I am very excited to write about event planning service for a number of reasons.
Firstly, as I mentioned above, this is the first startup project I am proud to launch with my partner in 2008. The period of world economic crisis… perfect time for business! Why not? 🙂
Secondly, all you need to start an event planning company is your desire, persistence and, maybe, some creativity.
And, finally, it is a very interesting business. It is a perfect investment in your networking. Also, you can always be at the center of events, involving lots of creative people and getting huge management experience very fast. And, of course, you can visit so many parties you have never even imagined in your life.
So, what to do to start an event planning service? Let’s start!
1. Define the type of events you would like to organize
It is better to select the sphere you either have experience in or it is very interesting to you. There are the following types of events you can consider:
- corporate events – conferences, seminars, team buildings, press conferences
- marketing events – press conferences, product launches
- public events – sports events, concerts
- theme parties, and VIP events
- weddings and family events
2. Define who is your client
This step is closely connected with the previous one.
Make sure you know your target audience. In this case, your marketing will be more effective.
So, business people and companies, or students, or maybe families?
Think about the audience you understand better. What can you offer to your client?
I remember our first client. We had to organize a wedding for a very nice couple and it was our first experience of such an event. Neither I nor my friend was not married at that time. So, I should say that was a huge responsibility to create a magic for the people who trusted us one of the most important events in their life. But we had no time to be scared. We had to get everything done perfectly and we did it. Definitely, we analyzed our weak points, but we managed to make our clients happy. And that was the goal!
3. Find people from the sphere of show business
You need to google a lot to create a very cool contacts base for your future events. The same concerns the number of calls you should make in order to connect with all those people and tell about your awesome project, so they could know about you and would be ready to participate in your events once you get a new order.
4. Work with project estimation
Plan your collaboration with the client beforehand. Create a commercial offer template and think about pricing. Probably you should think about it before starting to call to all of your contacts.
The price you can sell your project at depends only on your professional approach. The sphere of show business doesn’t dictate fixed prices, so one event can bring a good profit.
But if you fail the project, it won’t be easy to find a new client and involve cool performers again.
So, there are some variants of how to present event estimation to your client:
- Show the price for each event performer to be involved in the event and add your company commission for the service you provide.
- Show only the price for each event performer and add zero commission. In this case, the price for event performers will be higher for the client, but entertainers will be perceived by a client as your company team, so they are paying for the staff only.
Both variants are working. You should select the one that suits better for your target market.
If you are starting with a local event planning company, marketing won’t require a lot of your efforts. The first thing you should do is to share your idea among your close people. You have all chances to get your first client from people you know.
It will bring invaluable experience to you as an event planner and, what is more important, open a door to a number of new clients who will be the guests at your first event.
So, as far as you can see, such startup idea as event planning service is really worthy of attention. I believe you can do it great!
So, let’s get the party started!
Tania Artemova is a personal branding strategist, entrepreneur, blogger and motivator. She is a founder of IStartHub and a Co-founder of Great Create Web Agency.