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Event Planning Business Plan Template

  • Written by Dave Lavinsky

Growthink.com Event Planning Business Plan

Table of Contents

Event planning business plan.

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their event planning businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an event planning business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is an Event Planning Business Plan?

A business plan provides a snapshot of your own event planning business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes research to support your plans.

Why You Need a Business Plan for Your Event Planning Company

If you’re looking to start an event planner business or grow your existing one you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your event planning business to improve your chances of success. Your event planning business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Event Planning Businesses

With regards to funding, the main sources of secure funding for an event planning business are bank loans, personal funding, credit cards, and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Another common form of secure funding for an event planning business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan. Venture capitalists will not fund an event planning business.

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How to write a business plan for event planning.

When you write a business plan, you should include the following 10 key aspects:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each important component of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the event planning business industry. Discuss the type of business you are operating. Detail your direct competitors. Give an overview of your target audience. Provide a snapshot of your marketing strategy and plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of business you are operating.

For example, you might operate one of the following types:

  • Corporate Events : this type of event planning business caters to businesses, charities, nonprofit organizations, and the like to plan fundraisers, receptions, conventions, trade shows, competitions, award ceremonies, product launches, and other types of meetings.
  • Social Events : this type of event planning business targets middle- to upper-income individuals and families to plan events such as weddings, birthdays, reunions, and other types of celebrations.
  • Niche Events : some event planners specialize in just one of the above event types.

In addition to explaining the type of event planning business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new contracts, etc.
  • Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your business structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the event planning business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the industry educates you. It helps you understand the target market in which you are operating. 

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards events that adhere to social distancing guidelines, it would be helpful to ensure your plan details what approach you would take (suggested venues, creative solutions for inclusion, etc.).

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

  • How big is the event planning industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the clientele you serve and/or expect to serve.

The following are examples of customer segments: private and corporate clients, high-income households, medium-income households, engaged couples, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of event planning company you operate and the event services you offer. Clearly, businesses would want a different atmosphere, pricing, and product options, and would respond to different marketing promotions than engaged couples.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the age groups, genders, locations, and income levels of the customers you seek to serve. Because most event planning companies primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target market. The more you can understand and define these needs, the better you will do to attract customers and retain your existing customers.

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other planners and businesses that offer event planning services.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes caterers, venues, and customers planning events on their own. You need to mention such competition to show you understand that not everyone who throws a party hires an event planner each time.

With regards to direct competition, you want to detail the other businesses with which you compete. Most likely, your direct competitors will be other businesses that offer event planning services very close to your site.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of customers do they serve?
  • What planning services do they offer (wedding planning, baby showers, birthday parties, social events, etc.)?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. 

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide superior event management options (e.g., more cuisine types, better venue options, etc.)?
  • Will you provide event options that your competitors don’t offer?
  • Will you make it easier or faster for customers to book your services (e.g., utilizing event planning software, etc.)?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an event management business plan, your marketing strategy should include the following:

In the product section, you should reiterate the type of business that you documented in your Company Analysis. Then, detail the specific products/services you will be offering. For example, in addition to designing the event, locating the venue, arranging vendors, coordinating personnel, and supervising the event, will you offer services such as catering, decor, and entertainment?

In this section, document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections, you are presenting the services you offer and their prices.

Place refers to the location of your event management business, conference centers, and/or venues in which you own and/or have a relationship. Document your location and mention how the location will impact your success.

The final part of your event planning business marketing plan is the promotions section. Here you will document how you will drive customers to your site. The following are some promotional methods you might consider:

  • Social media marketing
  • Advertising in local papers and magazines
  • Reaching out to local bloggers and websites 
  • Partnerships with local organizations (e.g., getting on the list of recommended vendors with local venues)
  • Local radio advertising
  • Banner ads at local venues

Operations Plan

While the earlier sections of your event planner business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your event planning business such as interviewing clients, making arrangements, keeping the store/studio clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th customer, or when you hope to reach $X in total sales. It could also be when you expect to hire your Xth employee or launch in a new market.

Management Team

To demonstrate your own event planning business’ ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally, you and/or your team members have direct experience as event planners or in the industry. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in event planning and/or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you plan one event per week or several events? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 event contract, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During those 180 days, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key startup costs needed in starting or growing your business:

  • Location build-out including design fees, construction, etc.
  • The total cost of equipment and furnishings like decor, sound systems, etc.
  • Cost of maintaining an adequate amount of supplies
  • Payroll or salaries paid to staff
  • Business insurance
  • Taxes and permits
  • Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

  Event Planning Summary Putting together your own event planner business plan is a worthwhile endeavor. If you follow the event planning sample template above, by the time you are done, you will truly be an expert. You will really understand the business, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful event planning business.

Event Planning Business Plan FAQs

What is the easiest way to complete my event planning business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Event Planning Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of event planning businesses.

  OR, Let Us Develop Your Plan For You Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how Growthink’s business plan consulting services can create your business plan for you.   Other Helpful Business Plan Articles & Templates

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How to Start an Event Planning Service Want to be an event planner but not sure how to start your own event planning service? Discover how to start this business in our step-by-step guide.

Some people get a lot of personal and professional joy out of making big events and special days even better for their attendees. If you have the hosting itch, and if you love to tackle complex problems and make big days go smoothly, you might have a future as a professional event planner.

But whether you choose to work alone or with a small team, starting an event planning service is no small task. Today, let's break down how to start an event planning service step-by-step.

What are the basics of event planning?

Event planning is the art (and sometimes science) of event ideation, planning, coordination and operation. When a big, important event needs to go smoothly, it's time to call an event planning service or coordinator.

Event planners are key service providers who can ensure event production and execution happens smoothly. They perform these duties for trade shows, senior events, nonprofit galas and much more.

Related: Find Your Event-Planning Niche

Event planning is most often used for purposes like:

  • Big educational meetings, like graduations or conferences.
  • Major promotions, like marketing events, product launches and fashion shows.
  • Corporate events, like after-work cocktail hours, galas, etc.
  • Celebrations and social events like parades, weddings, birthdays, reunions, etc.

Event planning is highly important to make sure the above and other major events go off without a hitch, especially so that the most important guests can enjoy themselves.

The primary duties of full-time or part-time, on-site event planner jobs include:

  • Doing research prior to the big event.
  • Event design and team-building for project management.
  • Finding the appropriate site for the event.
  • Creating event budgets and running fundraisers if necessary.
  • Arranging for decor, entertainment and food for the event.
  • Sending invitations to potential attendees.
  • Planning transportation for attendees to and from the event.
  • Arranging any other necessary accommodations, like seating.
  • Coordinating activities for event personnel, like caterers or entertainers.
  • Supervising activities at the event site.

The events industry, both for wedding planning and other events, requires good communication skills. Additionally, obtaining a bachelor's degree in public relations or related areas can be helpful but is not absolutely required. Let's look closer at this job type and business.

Why do people hire event planning services?

People primarily hire event planning services for two reasons:

  • So that event-goers and guests of honor can enjoy themselves without focusing on the event.
  • So that the event in question goes smoothly.

Imagine a typical example of a wedding. Many engaged couples hire event planners or event planning services to coordinate, organize and carry out their wedding plans. In this way, the couples can enjoy their special days and focus on getting married rather than worrying about things like catering, parking and kicking out rowdy guests. Instead, the wedding planner takes care of that stuff.

Furthermore, some events are so complex – particularly those with hundreds of guests or more – that it's almost impossible to properly plan and organize them without the help of a specialist. Knowledgeable, experienced event planners know how to organize groups of people, how much food to provide and other details that can make or break an important event.

Related: The Price Is Right: Turning a Profit in the Event Planning Business

Who should become an event planner?

You might consider becoming an event planner if you love hosting parties and the thrill of organizing a complex event and running it without an issue. Planners often have to handle many moving parts at once. Many event planners have histories as managers or coordinators in other industries. You should become an event planner or start your own event planning service if you feel that you would enjoy this kind of work.

It's also worth noting that event planning often requires you to work on weekends or holidays (since these are the days when people have free time to schedule and hold events), as well as handle chaotic, sometimes confusing work and competing agendas. You should also consider acquiring certification for your event planning service, as it can help you acquire relevant professional skills and attract more job opportunities . Meeting Professionals International (MPI) is an association that offers a list of degrees and certificates from colleges and universities. The right degree or certification can lead to more job opportunities and even pave the way to a higher salary.

Alternatively, try to become a CSEP or Certified Special Events Professional or CMP or Certified Meeting Planner. Both of these are given out by the MPI or the ISES (International Special Events Society), which also highlight your skills and designate you as an expert event coordinator.

Now that we've covered the basics, let's get into the steps you need to take to start an event planning service:

Step 1: Make your company

Your first step involves making your company and filing the right paperwork. You should first draw up a business plan, which will include details like:

  • The business's name.
  • The business's tax structure (like a sole proprietorship, LLC, etc.).
  • How you'll make a profit.

Related: Check out these business plan templates to get started.

You'll also want to get an EIN, or employer identification number. This will allow you to hire employees for your event planning service if you desire later down the road.

How to Start an Event Planning Service

Step 2: Choose your target market

Next, do market research and pick the target market you want to work for. For instance, if you want to primarily work with weddings, you need to research that target market to know how much to charge for your services, what's involved and what you need to be experienced in.

By doing some research ahead of time, you won't find running your first events to be too overwhelming. You'll also know how much to advertise your event planning service to be competitive relative to other services in the area.

Step 3: Consider startup costs

When you start an event planning business, you'll have to consider startup costs. Working from home or primarily by yourself will keep costs low as opposed to hiring employees (who will require salaries).

However, if you want to expand your event planning business, you'll eventually need extra equipment, business premises like an office or warehouse and more. All of these things can add up, impacting the kind of business you begin.

Note that you can always scale your business after acquiring steady work. For instance, you can start off as a one-man event planning service that only provides services to small events you can tackle by yourself. After you save up some money from some successful jobs, you can hire a few more employees and rent out a warehouse for your equipment, like cameras, chairs and more.

Step 4: Understand the work involved and hire employees (optional)

For your event planning service to be successful , you need to fully grasp the nature of the work involved and understand whether you should hire employees.

Planning and executing an excellent event generally involves:

  • Designing the event, which means sketching out the feel or look of the event in question. Some clients will have very specific ideas you'll need to incorporate into the design.
  • Putting together a proposal for your clients so they can improve your plans.
  • Organizing the event, which involves almost everything else, like renting the site for the event, hiring vendors, hiring entertainers, organizing caterers and much more.

There's a ton of work that goes into planning even the smallest event. Fortunately, as you acquire experience, you'll be more adept at anticipating and completing this work.

Related: The Event Planning Recipe for Success

Generally, the larger the events you want to manage and coordinate, the more employees you need to hire. At a certain point, you can't be everywhere at once! Consider hiring employees when you have the cash to do so; this will allow you to plan events for larger groups of people and make more of a profit.

Step 5: Settle on a price structure and fee basis

How you price your event planning business will impact how often you get requests. You can determine your pricing structure and fee basis by things like:

  • The market segment you serve: For instance, social events usually have different fee structures than corporate events.
  • Your geographic location: If you have a higher cost of living, you are justified in charging your clients more to plan their events.
  • Your experience and reputation: As your business gets a reputation for success, you'll be able to charge a higher premium for your services.

Step 6: Start marketing your event planning service

Once you have all of your ducks in a row and you know how to charge your clients, you can start marketing your event planning service. Do this online through Google PPC (pay-per-click) ads, social media marketing and other efforts. Don't hesitate to use in-person marketing materials, like posters or TV ads, as well.

Related: 8 Savvy Ways to Promote Your Event Planning Business

As you can see, starting an event planning service is a matter of preparation and deep consideration. If you plan everything properly, your event planning service will launch smoothly, and you'll get your first batch of clients in no time.

Check out Entrepreneur's other guides and resources today!

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As business leaders, we need reminders to focus on our mindset, not just the P&L. Here are three habits that I practice to create a more successful mindset.

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1. Build a solid business plan

I can’t tell you how many small event planning businesses fail because the founder didn’t put together a business plan in advance.

Start by researching successful plans and businesses that are similar to your scope of work. Then reach out to others in the events industry who may be able to guide you! 

Reach out to others in the events industry that may be able to guide you. Click To Tweet

Even if you’ve never seen a business plan, there are plenty of resources and templates online that can get you started. Additionally, when you look to grow your business, an up-to-date business plan is vital to secure any kind of investment.

Start with the right event tools for your business

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2. Set a marketing budget and use a PR company when possible.

When starting your party planning business, your marketing budget may be 30% or more of your business expenses. Does that seem like a lot? Think about all the things you’ll need:

  • A website for your business
  • Business cards
  • Flyers and other printed info
  • Digital marketing and online ads
  • Expenses to travel to events for networking

Don’t leave anything out! You will need to spend money to make money, ultimately. The goal in the early months is to secure your base of customers as quickly as possible. If you deliver on the promise of creating memorable events, your clients will stick around and recommend you. As a result, your marketing costs will start to drop.

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Here’s How to Start an Event Planning Business Click To Tweet

3. Clearly define your scope of work, mission and goals for your event business.

Your event planning business may evolve over time, but even when you’re just starting out, it’s important to clearly outline what you are and aren’t willing to do. You can even put this on your website to attract the right type of clients.

When you’re still building your business, saying “no” to clients  is one of the hardest things to do. But it might save you from dealing with the kinds of customers that take up too much time and don’t offer enough value in return.

Guide: How to Create an Event Planning Checklist

4. Have your elevator speech ready.

After I set up my first events business, I had a hard time selling it to people because my 30-second pitch wasn’t refined. Make sure to spend time developing this ” it is the key to introducing everyone to your business.

Pro tip:  Don’t stress about the name of your event planning business. At the end of the day, the name of your business doesn’t matter ” as long as you produce truly memorable events. However, a catchy event business name idea might stick in someone’s brain better during an elevator pitch.

5. Do your market research

Before jumping, in I always tell people to understand their market and competitors. What is your unique value proposition? Are your fees similar to, better than or higher than others in your area? Understanding your competition and your clients will give you the leg up in this market. Don’t skip this step!

event business planning

6. Spend some time learning tax laws and business filing in your area.

No matter what kind of business you want to start, there are lots of legal pieces to understand. I spent time researching which type of business would be best for me (LLC made the most sense for my consulting business).

It’s also critical to understand the tax implications before you dive in. For example, when I moved my business from Virginia to California, I had to go through the process of dissolving the business. I should have taken more time to research other possibilities!

There’s a lot to navigate, but some great resources exist for building small businesses. Here are a few I recommend:

  • IRS.GOV “ Starting a Business
  • SBA.GOV “ 10 Steps to Starting a Business
  • Legalzoom.com

One of my favorite resources in Women In Events . New event planners can take advantage of our mentoring/coaching program after signing up.

Now You’re Ready to Start a Great Event Planning Business!

Have questions? We’ve got answers. Connect with @socialtables on Twitter.

Up next, here’s how to pick an event company name for your business . Or check out Social Tables free event planning tools to manage seating, meals, and so much more.

Try the event management software planners love

More tips for aspiring event planners.

  • The 6 Must-Have Event Planning Skills You Need for Career Success
  • The Top Event Planning Conferences This Year
  • 10 Event Planning Tips Every Budding Coordinator Needs to Know

Still searching for answers about starting an event planning business?

Do your research, make a plan, set a budget, define your scope of work, and throw amazing events!

You should plan to set aside at least $15,000 to $25,000 to start a small event planning business.

Event planning can be quite a profitable career choice. The best event planners will make a name for themselves and be able to charge high prices for their vision, creativity, execution, and results.

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Start an Event Planning Business In 7 Steps

By Homebase Team

event business planning

You’ve got the passion and the vision. Maybe you’ve even helped plan a friend’s wedding or a company party. But taking the leap into starting your own event planning business? That’s a whole new ballgame, and it’s normal to feel lost or overwhelmed.

It’s about practical steps, hard work, and a sprinkle of creativity.

From identifying your target market to tackling legal requirements, we’ll walk you through everything you need to know, without the runaround. We’ll even give you a heads-up about tools like Homebase that could be useful down the line.

Get your team in sync with our easy-to-use, all-in-one employee app.

1. Research and market analysis

The first step is to have a clear picture of the market landscape. Your goal? Uncover opportunities and threats, so you can position your business effectively. 

Here’s how you can approach it, step by step:

  • Identify your competitors: Who’s already out there? What services do they offer, and at what price points? 
  • Understand your target audience : Who are you catering to? What are their needs and budgets? If your area hosts many small businesses, maybe affordable launch events are a niche.
  • Analyze trends and demands : What’s trending in your area? Farm-to-table weddings or tech-savvy corporate gatherings? Tools like Google Trends are a goldmine.
  • What makes your region unique, and how can you leverage it?
  • What mistakes have others made that you can learn from?
  • What support networks (vendors, venues, etc.) are available locally?

These steps are the foundation of your business. Research wisely so your choices are data-driven, not just gut feelings.

2. Decide on your niche, services, and branding

Once you’ve got a grip on the market, it’s time to carve out your own space. Choosing a niche is more than picking a category; it’s about finding where your passion and the market’s need intersect. 

Here’s how to approach it:

  • Find your niche : Are you aiming for tech conferences, startup launch events, or perhaps industry-specific trade shows? Identify what excites you and what’s in demand in your area. For example, if you live in a tech hub, focusing on tech-related corporate events could be your sweet spot.’
  • Define your services : What will you offer within your niche? Will you offer end-to-end solutions or specialize in certain aspects like venue selection or guest management? Perhaps your forte is virtual event planning, catering to remote teams.
  • Logo and visuals : These should echo your style and the feel of the events you plan.
  • Mission statement : What sets you apart in the business event landscape? Is it your innovative approach or unbeatable vendor connections?
  • Value proposition : Clearly define what clients will gain by choosing your service. Is it the seamless integration of technology or the unique venues you offer?

Deciding on a niche is all about focusing your energy where you can truly shine. This is where your business starts to feel real, so take the time to get it right.

3. Build a business plan and establish pricing

event business planning

Let’s say you’re launching your event planning business, focusing on corporate events like conferences and product launches. You’ve recruited a small team, and one of your first projects is a week-long business expo in a city with stringent labor regulations.

Suddenly, you find your team working longer hours, right on the edge of breaching overtime rules. Failure to comply with local labor laws could mean fines, not to mention the potential harm to your budding reputation. It’s a real headache that you didn’t need at such a critical time.

With a platform like Homebase, you can easily access information on local labor laws, calculate correct overtime pay, and even consult live with a certified advisor to review your staffing plan. 

Plus, establishing pricing demands a clear understanding of costs, including potential legal costs. With access to Homebase’s digital library of guides, training, and templates tailored to your business, you’ll be well-equipped to build a solid, compliant foundation to build a sustainable and legally sound business.

4. Start networking and community-building

Your network isn’t just about gathering names and numbers. It’s about building a community that you can rely on, and that trusts you in return.

Here’s how you can build your network effectively:

  • Suppliers and vendors : Establish relationships with dependable suppliers. If you’re organizing a tech conference, having a reliable tech supplier ensures that you’ll have the latest gadgets and gear on time. No last-minute scrambles, no disappointed clients.
  • Venue partnerships : Negotiate partnerships with unique venues. Let’s say you find a modern, eco-friendly building that resonates with your client’s brand for a product launch. Forming a relationship with this venue could mean exclusive access to future events.
  • Event-related alliances : Collaborate with other event-focused businesses. If you’re planning a business gala, team up with a renowned local chef to offer exclusive catering options, turning a standard meal into a gourmet experience.
  • Community engagement: Don’t just network; engage with your community. Attend local business events, join professional groups, and actively participate. When you’re planning a charity fundraiser, having strong community ties can amplify your reach, making the event a true success.

5. Develop online presence and marketing strategy

Your online presence isn’t just a part of your marketing strategy; it’s often the first impression potential clients will have of your business event planning services. 

Here’s how you can ensure it’s a lasting one:

  • Website : Your website is your digital storefront. Make it sleek and professional, highlighting your previous successes. Include a portfolio of past business conferences or trade shows, so potential clients can see your expertise in action.
  • Social media : Utilize platforms like LinkedIn and X (formerly Twitter) to engage with other professionals. Share valuable insights about event planning, showcase behind-the-scenes preparations, and celebrate successes.
  • Content marketing : Start a blog or a YouTube channel sharing behind the scenes in planning your grand opening and other tips starting your business events . By offering free, valuable content, you position yourself as an expert, attracting clients who value your insights and approach.
  • SEO and advertising : Invest in Search Engine Optimization (SEO) and targeted advertising to reach potential clients actively looking for event planning services. If a business is searching for a planner for their next big product launch, you want to be at the top of their search results.
  • Client testimonials : Encourage satisfied clients to leave positive reviews on platforms like Google My Business. Imagine a potential client reading a rave review about the seamless execution of a recent business expo you organized. That’s a powerful motivator.

6. Determine how you’ll manage sales and customer relationship management (CRM)

Sales and CRM are the heart of your event planning business; they keep the clients coming and the relationships growing.

  • Understand your clients : Know what businesses are looking for in an event. Are they aiming for an innovative product launch or an elegant corporate dinner? Understanding their needs ensures you can pitch the perfect event.
  • Use CRM tools : Tracking interactions, setting reminders, and managing follow-ups become streamlined. With CRM tools, you’ll never miss a follow-up call after a successful sales meeting. 
  • Create customized proposals : Tailor your proposals to each client. If a business wants to host an eco-friendly conference, present a proposal showcasing your expertise in sustainable event planning. It’s personal touches like these that seal the deal.
  • Provide exceptional service : After the contract is signed, the real work begins. Regular updates, clear communication, and exceeding expectations turn a one-time client into a long-term partner. Think of a client so impressed with the launch event you planned that they automatically think of you for their next one.
  • Ask for feedback : Post-event, request feedback and address any concerns promptly. If something didn’t go as planned during a seminar, knowing what went wrong and fixing it turns a potentially negative experience into a showcase of your professionalism.
  • Maintain relationships : Don’t let the connection go cold after the event. Send thank-you notes, share relevant content, or simply check in from time to time. It’s these small gestures that keep you in their minds for future events.

7. Consider how you’ll run your small business into the future

event business planning

Initially, it might be just you and some contractors, but as you secure more contracts for business conferences, product launches, or corporate retreats, you’ll likely need to expand your team. 

When this growth happens, you can use a tool like Homebase to handle time-sensitive events and simultaneously juggle timesheets , payroll, hiring and onboarding , and compliance. With Homebase, you can directly link team members’ timesheets with their time tracking data, so you can round accurately and legally. 

It also lets you set up communication alerts to avoid staff accidentally rolling into expensive overtime and send team members reminders to take their breaks and clock out of work on time.

Plus, Homebase’s scheduling and manager log can be integrated with your point-of-sale system, so you can easily track when your peak periods are and assign staff accordingly. Add notes and give a human perspective on the data collected, all aimed at streamlining operations and boosting staff engagement further.

Get your event planning business on track with Homebase

From market analysis to networking, each step has its own challenges. How do you find the right vendors? What strategies will make your online marketing effective? How do you handle customer relationships as the business scales? 

And what about the backend, operations, and team management? With an all-in-one HR and team management solution like Homebase, you can set and review internal policies, onboard new team members, and run payroll all in one place, even accessible on the cloud. 

By combining time tracking with scheduling, payroll, and communication tools, you’re not just managing your team, you’re efficiently handling everything from assigning shifts to making payments. Advanced clock-in verification tools help you monitor when staff members are working, be it on-site or off-site.

And with our free plan , you can access many of these high-impact features for up to 20 employees at a single location without any cost.

FAQs about starting an event planning business

Is event planning profitable.

Yes, event planning can be profitable. The key is identifying your niche, whether it’s weddings, corporate events, or social gatherings, and tailoring your services to meet those specific needs. Profitability may vary based on location, experience, and scale, but with proper planning and execution, an event planning business can be both a rewarding and financially successful endeavor.

How do you start as an event planner?

You can start as an event planner by: 

  • Identifying your niche and target market
  • Building a business plan outlining your services, pricing strategy, and marketing approach
  • Acquiring necessary certifications or training to enhance your credibility
  • Networking with vendors, venues, and other industry professionals
  • Creating an online presence with a professional website and active social media accounts
  • Offering initial services to friends or family to build your portfolio 
  • Gradually, expanding your reach through word-of-mouth and online advertising
  • Being detail-oriented, creative, and customer-focused 

Remember:  This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.

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How to Write an Event Planning Business Plan + Free Template

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Planned a few events in the past?

And, if you feel that event planning is your forte, and you have ideas that are both creative and functional, event planning might be an exciting endeavor for you!

Although most people start out by working under someone, everyone dreams of starting their own event planning business.

Also, you are about to go ahead and start yours; wait a moment!

You might have sufficient knowledge for planning events, but navigating the complexities of the event planning industry needs a well-thought-out roadmap. And that roadmap is a comprehensive event management business plan.

Yes, you read it correctly. A business plan can be of great help while starting your own event planning company. It not only sets the foundation for your venture but also enhances your opportunities for success.

So, we have created a Sample Event Planning Business Plan for you to get a good idea about how a perfect event business plan should look like!

Now, without any further ado; let’s explore all the details you will need to write in your stunning business plan.

Key Takeaways

  • Clearly define your goals, mission statement, service offerings, and management team in your business plan.
  • Perform thorough market and industry analysis to identify target customers, and adapt to the latest trends.
  • Present a realistic financial plan, including startup costs, revenue projections, and a break-even analysis to attract investors.
  • Effectively draft your pricing strategy and unique selling propositions to meet the specific needs of your target customers.
  • Provide a clear outline of your business operations to efficiently deliver your planning services and seize new opportunities.
  • Craft your marketing techniques, sales tactics, and promotional activities to reach a wider audience.
  • Recognize your key competitors, and develop strategies that make your event planning business stand out in the competitive landscape.

How to Write an Event Planning Business Plan?

  • Get a Business Plan Template
  • Write an Executive Summary
  • Provide a Company Overview
  • Conduct an Industry and Market Analysis
  • Describe your Product and Service Offerings
  • Outline a Sales and Marketing Plan
  • Introduce Your Team
  • Outline Business Operations
  • Prepare a Financial Plan

1. Get a Business Plan Template

Before you start writing a business plan for your event planning business, it is recommended to get a business plan template first.

It’s like having a valuable resource for your business planning. It not only simplifies the business plan writing process but also helps you include all the essential elements in your plan.

However, you can effectively organize your thoughts and accurately draft a strategically sound business document according to your specific requirements and preferences.

Not only that, it sets the stage for a comprehensive, professional business plan that empowers you to highlight your vision, attract potential investors, and navigate the competitive event planning landscape.

If you are a budding entrepreneur or looking for a polished template, choose Upmetrics’ business plan template now and ensure that you won’t skip any important facts in your plan.

Say goodbye to boring templates

Build your business plan faster and easier with AI

Plans starting from $7/month

event business planning

2. Write an Executive Summary

An executive summary is the first and foremost section of your event planning business plan. It provides a brief introduction to the entire business plan.

Make sure that it is clear, concise, and engaging, as it will create your first impression and attract investors or readers to delve further into your plan.

Start this section by describing your idea behind an event planning and type of business; for example, are you a startup business, want to grow an existing one, or running a business chain?

Communicate your business objectives and emphasize how you will be different from other event-planning businesses. Here is an example of event planning objectives using Upmetrics:

example of event planning objectives

Next, give an overview of each of the subsequent sections, including offered services, market opportunities, marketing strategies, and financial projections that will be explored in greater detail within the plan.

Not only that, you can end this summary with a compelling call to action, inviting potential investors or readers to the next meeting if they are interested in your event planning.

Generally, this section is written after the whole event business plan is ready. It is often the easiest way to do so as you have simply gone through and written all the key sections of your plan.

3. Provide a Company Overview

Now, provide detailed information about your event plan business. It contains ownership, legal structure, office location, business history, and other such business-related facts.

Begin with the intro of what type of events you are organizing. For instance, it will be corporate events (catering to businesses), social events/celebrations(wedding planning, birthday parties, etc), or niche events(specialized in just one type).

Discuss a little bit more about your business history, including when you started event planning and what milestones you have accomplished. Also, accentuate your mission statement.

Take reference from the below example describing the mission of the event planning company:

In an ever-changing, fast-paced world, success is determined by good choices for lasting effects. Eventel strives to be the best choice for clients by helping to ease their event planning burden.

Through consistent, predictable professionalism, Eventel will ensure a worry-free and hassle-free event at a reasonable price.

Event also has internal clients to serve. The event will strive to provide the same predictable and professional working environment to its employees and contracted vendors, justly compensating them for their services.

It is also a priority to make a comfortable living wage for its owners, founders, full-time staff, and their families.

Keeping in tune with the needs of the market, utilizing the latest technology and trends, all while ensuring the client receives the individual attention they deserve, is the vision and daily mission of Eventel; The Event Planning Specialists.

In addition to that, you can mention your startup summary and future business goals, as this section gives an in-depth overview of your business.

4. Conduct an Industry and Market Analysis

Starting an event management business requires a strategic events industry and market analysis. So, take some time to go further and locate more accurate data.

Try to include certain key elements in this section:

Market size and growth potential

You need to study specific data about various markets in which you are trying to get into and ensure profitability. So, describe your market size & growth potential and whether you will target a niche or a much broader market.

For instance, the USA industry revenue for event planners has grown at a CAGR of 4.1% over the past five years and reached $5.6 billion in 2023. So, it is crucial to define the target market segment.

Target market segment

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Do proper market research and try to create a buyer’s persona in terms of their demographic and psychographic profiles.

Take reference from the below example written using our innovative AI writing assistant :

Competitive analysis

Identify and analyze your direct and indirect competitors. Recognize their strengths & weaknesses, and describe what differentiates your business from other planners.

Direct competitors can be other event planning businesses, while wedding planners, local venues, caterers, or conference centers can be indirect competitors.

Point out how you have a competitive edge in the market, such as superior event management options, user-friendly methods/tools to book your services, and adequate pricing plans with better services.

Not only that, describe emerging market trends in the industry and explain how you will cope with all the directions. You can also list regulations and licensing requirements that may affect your company.

5. Describe your Product and Service Offerings

Next, specify the scope of your products and service offerings. As an event management business, you can describe the size and type of events you cater to, including a variety of event planning services.

This section must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors or readers understand the value of your business.

While drafting your  event planning services and products, you can take reference from the below example:

Eventel provides event planning in a wide range of applications. We guarantee satisfaction in the areas of appearance, performance, and taste. 

The following is a sampling of the types of events we plan every year:

  • Corporate events or meetings, Training, and Retreats
  • Conferences and Workshops
  • Birthday parties, Anniversaries, Graduations, and Holidays
  • Weddings, Receptions, and Showers
  • Company picnics, banquets, and award ceremonies
  • Caterer coordination and decor
  • Trade shows and fashion shows

Effectively define your pricing plans for event planning services. Also, communicate your services to the customers by sharing a detailed description of the procedure you use while working with clients.

Mention if your event planning company offers any additional services. You may include services like lighting & sound, vendor negotiation, guest concierge services, etc.

6. Outline a Sales and Marketing Plan

Writing the sales and marketing strategy section means a list of tactics you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing strategies:

Social media marketing

Use social media platforms to present your company’s essence. Regularly post exquisite snapshots or videos of your planned social events, decor, and behind-the-scenes moments.

User-friendly website

Assure that your event management company has a user-friendly website that provides basic information about your services, pricing, and contact

details. Also, share informative blog post content or event videos.

Pricing strategy

Describe your pricing strategy—how you plan to price your services and stay competitive in the local market. You can mention any discounts you plan on offering to attract new customers.

Collaborations

Build an extensive vendor network to expand your reach and draw their existing customers. This might do wonders for your business and enhance your brand image.

Offline advertising

Effectively reach your target audience using offline advertising methods like brochures, newspapers, social gatherings, or events. Also, try to offer a personalized approach or stress-free planning to retain existing clients.

7. Introduce Your Team

A powerful management team is paramount for demonstrating your business’s ability to thrive in the event planning industry.

Letting your readers or investors know about your business leadership or key managers will help them have a clear idea of who is running your event planning company.

So, start this section by introducing key team members and highlighting their event planning skills & previous experience.

Jot down their qualifications and specific responsibilities. You can also shed light on how your experienced event planners contribute to the success of your business.

management team example for event planning business

Next, describe the compensation plan for the leadership team and event planners, including salaries, bonuses, and other benefits. This can help key stakeholders to ascertain how much percentage is allocated to salaries.

If you have a board of advisors for your event management business, then mention them along with their roles and experience.

8. Outline Business Operations

Now, it’s time to outline the processes and procedures involved in your day-to-day business operations. Detail how you will eventually plan to manage your business effectively.

Staffing & training

Highlight your staffing needs by mentioning the number of employees, planners, or coordinators. Also, include their qualifications, the training required, and the duties they will perform.

Operational process

Outline the processes and procedures you will use to run your event planning business. It may include initial client meetings, decor, party favors, caterer coordination, set up/clean up, etc.

Equipment and machinery

You can also include the list of equipment and machinery required for event planning, such as office supplies, camera & photography equipment, event planning software, etc.

Explain how these technologies will help you maintain quality standards and improve the efficiency of your business operations. Refer to the below example written using Upmetrics AI assistant:

9. Prepare a Financial Plan

For a successful event planning business, you need to prepare a well-structured and in-depth financial plan with a realistic financial projection. It comes last in the business plan but is the most important section for investors.

So, mention all the below key components in your financial plan:

  • Profit and loss statement
  • Sales forecast
  • Cash flow statement
  • Balance sheet
  • Break-even analysis
  • Financial needs
  • Tax considerations

From the above, you can identify the funding needs and evaluate the funding resources for your event planning company, including bank loans, SBA-guaranteed loans, angel investors, and personal savings.

In this section, you need to make a few assumptions. It will greatly affect the financial forecasts of your business. Refer below table to make important assumptions:

financial forecasts example of event business

Well, having a realistic financial plan in your hand not only helps you present your business’s fiscal health but also emphasizes its sustainability.

However, calculating all the financial statements from scratch can be an overwhelming task. But, not to worry; use Upmetrics’ financial forecasting tool to formulate all your financial projections.

All you need to do is provide the information you have, and let the tool estimate financial factors, and create visual reports for you. No manual data entry, recalling Excel formulas, or preparing graphs—nothing.

Here’s an example of a projected cash flow statement for an event planning business:

projected cash flow statement for event planning business

Download Free Event Planning Business Plan Template

Need help writing your event planning business plan from scratch? Well, here you go; download our free event planning business plan template now and start writing.

This modern, user-friendly event management business plan template is specifically designed for your event business.

With a step-by-step guide and example, it assists you in creating your own plan without missing any crucial details.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

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Prepare Your Business Plan with Upmetrics AI

Finally! You know how to write an event planning business plan with the help of our free sample business plan template. So, you are one step closer to starting or growing your business confidently- pretty exciting, right?

But you know what else is exciting? Your business planning process can be even faster and easier than this. Yes, you heard it right; it’s possible with the power of the Upmetrics AI assistant tool .

So, take a sigh of relief and focus only on planning the most happening events in the town!

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Frequently asked questions, what are the key components of an event planning business plan.

Writing a professional event planning business plan involves the following key components:

  • Executive summary
  • Company overview
  • Industry and market analysis
  • Product and service offerings
  • Sales and marketing plan
  • Management team
  • Business operations
  • Financial plan

How often should I update my Event Planning Business Plan?

Your event planning business plan should be reviewed and updated at least once in a year or more often if there are significant changes in your business environment or services.

What are some tips for writing an Event Planning Business Plan?

Consider the following factors before writing an Event Planning Business Plan:

  • Define your niche and business objectives
  • Clearly mention unique selling points
  • Be realistic in the financial statement
  • Understand your target customer
  • Stay agile in a dynamic industry

How much does it cost to start an event planning business?

A fair estimation for an event planning business can range from a few thousand to tens of thousands of dollars. It can vary widely depending on office space, equipment, and initial inventory.

About the Author

event business planning

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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Events Business Plans

Did you know each of these plans was created in LivePlan? Learn More

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Weddings Business Plans

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If you do weddings or events, you already know how important planning is. The same applies to your business. Check out these sample business plans for event planning, wedding consultants, special event planners, and other event management businesses. Then use what you learn to write the plan for your own business.

If you’re looking to develop a more modern business plan, we recommend you try LivePlan . It contains the same templates and information you see here, but with additional guidance to help you develop the perfect plan.

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Are you passionate about creating memorable experiences and have an eye for detail? Starting your own event planning business could be the perfect venture for you. Launching an event planning business is an exciting decision, but remember that cutting through the clutter and connecting with your target audience is crucial. 

Often, generic advice falls short of addressing the real challenges you as an aspiring event planner face. In this guide, we’ll explore a proven framework to kickstart your event management business successfully.

But let’s start with the basics and slowly build up your journey to teach you how to start an event management business. 

What is an Event Management Business?

An event management business involves the planning, organizing, and execution of various events, ranging from weddings and corporate conferences to festivals and private parties. Event planners play a crucial role in ensuring that these occasions run smoothly, leaving a lasting impression on clients and attendees alike.

The Benefits of Starting an Event Management Business in 2024

As we step into 2024, the events industry is witnessing a resurgence with a growing demand for unique and personalized experiences. Here are some compelling reasons to consider starting your event planning business this year:

  • The events industry is rebounding, with an increasing number of people eager to celebrate milestones and create memorable moments.
  • Diverse events, from virtual experiences to in-person gatherings, offer a wide range of opportunities.
  • Clients are seeking innovative and personalized event experiences, providing a platform for creative entrepreneurs to shine.
  • The demand for unique themes, decor, and entertainment options is on the rise.
  • Event planning allows for flexible working hours, making it an attractive option for those seeking work-life balance.
  • Independence in decision-making and the ability to choose clients and projects.

How to Start an Event Management Business in 13 Steps

  • Understand the event management market
  • Assess and improve your event planning skills
  • Market research and event planning business market fit
  • Starting an event management business & choosing your niche
  • Business structures to consider when starting event planning business
  • Creating irresistible event planning solution
  • Writing an event planning business plan
  • Initial and ongoing expenses for event management business
  • Figure out the booking process for your event planning business
  • Set up prices with a healthy profit margin
  • Promoting your event management business
  • Selling your event planning services
  • Growing and scaling your event planning business

Understand the Event Management Market

To truly understand the event planning market, you must immerse yourself in its dynamics. This involves staying informed about the latest trends, emerging technologies, and shifts in consumer behavior. Analyze how global and local events impact the industry, keeping an eye on event statistics and other crucial data. 

Let’s see some examples of market dynamics when it comes to event planning business:

  • Rise of Virtual Events

With the increasing prevalence of virtual experiences, understanding how to integrate technology into traditional event planning is crucial.

  • Sustainability Trends

The growing emphasis on eco-friendly events requires an awareness of sustainable practices in event management.

Events planning challenges

Every industry has its challenges, and event management is no exception. Acknowledging these challenges is the first step in overcoming them. Challenges may include budget constraints, unexpected logistical issues, or dealing with unforeseen changes in event requirements. Anticipating and planning for these challenges will set you apart as a prepared and resilient event planner.

Trends come and go, and it’s on you to make the most out of them. Whether it’s incorporating experiential marketing, interactive elements, or thematic designs, trends influence client expectations. By understanding and leveraging these trends, you position yourself as a forward-thinking and creative event planner.

Putting insights into action

Identifying the untapped potential within the market is where strategic planning comes into play. Consider the demographics of your geographical area, the types of events in demand, and the gaps in services offered by competitors. Conduct surveys, engage in networking, and seek feedback to uncover opportunities for growth.

Assess and Improve Your Event Planning Skills

Before you start chasing new shiny ideas and dive into external avenues for skill enhancement, begin with a thorough self-assessment. Reflect on your past events, identifying both strengths and areas for improvement. Consider seeking feedback from clients, vendors, or colleagues to gain valuable insights into your performance.

Enhancing your event planning skills

Formal education and structured learning play a pivotal role in skill enhancement. What can you do to enhance your event management skills ? Explore workshops, seminars, and online courses that cover various aspects of event planning. These educational opportunities can provide in-depth knowledge, from event design principles to the latest in event technology.

Another great strategy is connecting with seasoned professionals in the event planning industry who can offer invaluable mentorship. A mentor can provide guidance based on their experiences, share industry insights, and offer constructive feedback. Consider joining mentorship programs or networking events to establish mentor-mentee relationships.

While theoretical knowledge is essential, hands-on experience remains unparalleled in its ability to hone event planning skills. Actively seek opportunities to work on a diverse range of events, from weddings to corporate conferences. Practical experience not only solidifies your skills but also builds confidence in managing various event scenarios.

In 2024, proficiency in event management tools and software is a valuable skill. Familiarize yourself with event planning software, project management tools, and virtual event platforms. Technological literacy enhances efficiency in tasks ranging from guest list management to creating immersive virtual experiences.

Market Research and Event Planning Business Market Fit

Begin your market research by gaining a comprehensive understanding of the current state of the event planning industry. Analyze market trends, identify key players, and assess the demand for various types of events. Consider factors such as geographic location, demographics, and socio-economic trends that might influence the market dynamics.

What can you do?

  • Explore reports from event industry associations and market research firms for a macro view of trends.
  • Study the strategies, strengths, and weaknesses of established event-planning businesses.

market analysis concept

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The next step is to narrow down your focus by clearly defining your target audience. Consider demographic factors such as age, income level, and interests. Understanding your audience allows you to tailor your services to meet their specific needs and preferences. It’s not a one-size-fits-all approach; different demographics have distinct preferences and expectations. Conduct market research to create detailed buyer personas, encompassing factors like age, interests, and spending capacity.

Crafting buyer personas for event planning business

  • Develop detailed profiles of your ideal clients.
  • Consider factors like their event goals, preferred communication channels, and budget constraints.

Beyond demographics, explore the specific preferences of your target audience. Whether it’s the aesthetic choices for a wedding or the interactive elements for a corporate conference, aligning your services with what resonates with your clients ensures a more personalized and satisfying event experience.

You also need to dive deep into the needs and pain points of your potential clients. What challenges do they face when planning events, and what solutions are currently lacking in the market? By identifying these pain points, you can tailor your services to address specific gaps in the industry.

Crafting your Unique Selling Proposition (USP)

Once you’ve identified all these aspects, it’s time to craft your unique selling proposition. Armed with insights from your market research , articulate a unique value proposition that sets your event planning business apart. Your value proposition should communicate the specific benefits and advantages clients gain by choosing your services over competitors.

Let’s see the key components of a value proposition for an event planning business:

  • Highlight any specialized skills, certifications, or expertise that distinguish your business.
  • Emphasize unique solutions or approaches that address specific market needs.
  • Communicate a commitment to exceptional customer service and personalized experiences.

Is there something else you can do? Well, of course!

Analyze competitor strategies

Evaluate the strategies employed by competitors to gain insights into how competitive the event planning industry is. Identify areas where competitors may be falling short or where you can differentiate your business. This analysis informs your positioning within the market. This leads us to the next step you should take when starting an event planning business:

Complete SWOT analysis

Conducting a SWOT analysis—a comprehensive examination of your business’s internal and external factors—provides a roadmap for making informed decisions and optimizing your chances of success.

Identify the internal factors that give your event planning business a competitive edge. These are the attributes and capabilities that set you apart and contribute to your success in the market.

  • Expertise and Skills

Highlight any specialized event planning skills or certifications you possess.

Emphasize your creative approach to designing and executing events.

  • Industry Connections

Showcase relationships with reliable vendors, venues, and other industry professionals.

  • Technology Adoption

If you leverage event planning software or technology, consider it a strength.

Examine the internal factors that may pose challenges or limitations to your event planning business. Recognizing and addressing weaknesses is crucial for sustainable growth.

  • Limited Experience

If you’re new to event planning, acknowledge the learning curve and outline plans for skill enhancement.

  • Resource Constraints

Lack of financial resources, staff, or equipment may be a weakness.

  • Niche Limitations

If your expertise is limited to specific event types, address plans for diversification.

Opportunities

Explore external factors in the market that can be advantageous for your event planning business. These are areas where your business can grow and thrive.

  • Growing Demand

Identify emerging trends or increasing demand for certain types of events.

  • Collaborations

Explore opportunities to collaborate with other businesses or professionals in the events industry.

  • Technological Advancements

Leverage new event planning tools or technology trends to enhance your services.

  • Market Gaps

Identify gaps in the market that your business can fill.

Evaluate external factors that could potentially pose challenges or threats to your event planning business. Being aware of these threats allows you to proactively mitigate risks.

  • Economic Downturn

Economic challenges may impact clients’ budgets for events.

  • Intense Competition

A saturated market with numerous competitors may pose a threat.

  • Changing Regulations

Stay informed about any legal or regulatory changes affecting the events industry.

  • Seasonal Fluctuations

If your business is impacted by seasonal demand, plan for potential idle periods.

Starting an Event Management Business & Choosing Your Niche

Starting your event management business is scary, but exciting. Choosing your niche is crucial. You can always pivot to another niche, but getting it right on the first try will give you the headstart you need for successfully starting your event planning business. 

Defining your niche is like setting the stage for your business, allowing you to tailor your services to meet the unique demands of a specific market segment. Here’s a guide on how to navigate this crucial aspect of launching your event management business.

  • The first step in choosing your niche is to identify the type of events that genuinely excite and inspire you. Whether it’s the romance of weddings, the sophistication of corporate gatherings, or the vibrant energy of social events, aligning your business with your passion sets the foundation for long-term success.
  • While passion is paramount, it’s essential to evaluate the market demand for your chosen niche. Research the local and global trends to understand the current and future needs of potential clients. A niche with a growing demand ensures a steady stream of opportunities for your business.
  • Evaluate your skills, expertise, and previous experiences in event planning. Your professional background and knowledge can influence the type of events you’re well-equipped to handle. Leverage your strengths to carve a niche that showcases your unique capabilities.
  • Analyze the level of competition in different event planning niches. While a saturated market may present challenges, it also indicates a viable demand. Assessing the competitive landscape helps you identify gaps or opportunities for differentiation.
  • Once you’ve chosen your niche, tailor your services to cater specifically to the needs and preferences of that market segment. This involves customizing your approach, packages, and offerings to align with the unique requirements of the events within your chosen niche.
  • Craft a brand identity that resonates with your chosen niche. This includes developing a compelling brand story, creating a visually appealing brand image, and adopting a tone of voice that connects with your target audience.

Business Structures to Consider When Starting an Event Planning Business

When starting an event planning business, the crucial decision you’ll need to make is determining the legal structure of your venture. The choice of business structure significantly impacts various aspects, including taxation, liability, and the overall management of your business. But what options do you have?

Sole Proprietorship

A sole proprietorship is the simplest and most common form of business structure. In this setup, you are the sole owner and operator of the event planning business. It’s an ideal choice for solo entrepreneurs or small businesses with minimal anticipated risks.

Limited Liability Company (LLC)

An LLC combines elements of both a sole proprietorship and a corporation. It provides a degree of personal liability protection while maintaining simplicity in terms of operation. LLCs are a popular choice for small to medium-sized event-planning businesses.

Partnership

A partnership involves two or more individuals sharing ownership and responsibilities. There are two primary types: general partnerships (equal sharing of responsibilities and liabilities) and limited partnerships (one general partner with unlimited liability and limited partners with liability restricted to their investment).

Corporation

A corporation is a separate legal entity from its owners. It is owned by shareholders, managed by a board of directors, and operated by officers. Corporations are suitable for businesses with significant growth ambitions.

Creating an Irresistible Event Planning Solution

Before you start an event planning business you need to understand that the key to success lies in offering a solution that not only meets but exceeds the expectations of your target audience. Consider the following aspects and thoroughly go through them to create an irresistible event-planning solution for your clients:

  • Your event planning solution should not only meet industry standards but surpass them. Clearly articulate and showcase what sets your services apart from competitors. Whether it’s a signature planning process, exclusive vendor partnerships, or a track record of delivering extraordinary experiences, emphasize these unique selling propositions in your marketing materials.
  • Leveraging technology can elevate your event planning solution. From online event management platforms and event management plugins to virtual planning tools and social media integration for real-time updates, embracing technology enhances both the planning process and the overall event experience.
  • Clear and effective communication is the backbone of successful event planning. Ensure that your solution includes robust communication channels to keep clients informed and involved. Additionally, fostering strong collaborations with vendors, venues, and other stakeholders contributes to a seamless and well-coordinated event execution.
  • One size rarely fits all in the world of events. Offering personalized and customizable solutions allows clients to feel a sense of ownership and involvement in the planning process. Whether it’s custom décor, unique entertainment options, or personalized event timelines, the ability to tailor your services adds a distinctive touch.
  • Consider how you can infuse creativity into your event planning services. This could involve staying updated on the latest trends, incorporating unique themes, or introducing innovative technologies to enhance the overall event experience.
  • No two events are alike, and recognizing this fact is crucial in creating a solution that resonates with your clients. Tailor your services to cater to the specific needs of your chosen niche. Whether it’s weddings, corporate events, or social gatherings, having specialized packages or customized offerings adds a personal touch that clients appreciate.

Writing an Event Planning Business Plan

event planning business plan

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A comprehensive business plan is the foundation of a successful event planning business. It serves as your roadmap, guiding your business toward its goals while providing a clear and strategic direction. Here’s how to develop an effective event planning business plan that outlines your vision, target market, marketing strategy, and financial projections.

Vision and goals 

Begin by articulating your business’s vision and mission. What do you aim to achieve with your event planning services? Outline short-term and long-term goals that provide a clear trajectory for your business. Whether it’s becoming a prominent wedding planner in your region or specializing in large corporate events, defining your goals sets the tone for the entire plan.

Target market

Understanding your target market is fundamental to the success of your event planning business. Define your ideal clients, considering factors such as demographics, preferences, and spending capacity. Tailor your services to meet the specific needs and expectations of your identified market segments.

Marketing strategy

Your marketing strategy is the bridge between your event planning services and your target market. Clearly outline how you intend to promote your business. This may include digital marketing efforts such as social media campaigns, website optimization, and content marketing. Traditional methods like networking, partnerships, and attending industry events should also be considered.

Service packages

Detail the range of services your event planning business will offer. Whether it’s full-service event coordination, day-of coordination, or specialized service packages for weddings, corporate events, or social gatherings, clearly articulate what sets your services apart. Highlight any unique features or value additions that distinguish your offerings.

Competitive analysis

Analyze the competitiveness of the event planning industry in your target area. Identify key competitors, their strengths and weaknesses, and the unique selling propositions that set them apart. Use this information to refine your own strategy and identify opportunities for differentiation.

Financial planning

Create detailed financial projections for your event planning business. This should include startup costs, operational expenses, and revenue forecasts. Outline your pricing strategy and justify your rates based on market research and the value you provide. A realistic and well-researched financial plan instills confidence in potential investors and serves as a guide for your financial management.

Risk analysis and mitigation

Anticipate potential challenges and risks that your event planning business may encounter. This could include market fluctuations, unexpected expenses, or industry-specific challenges. Develop strategies to mitigate these risks and ensure your business remains resilient in the face of uncertainties.

Operational plan

Detail the day-to-day operations of your event planning business. This includes staffing requirements, vendor management processes, client communication protocols, and any technology or tools you plan to leverage. A well-structured operational plan ensures efficiency and consistency in service delivery.

Executive summary

Summarize the key components of your business plan in an executive summary. This concise overview provides readers with a snapshot of your business, making it an essential part of any business plan presentation or proposal.

Initial and Ongoing Expenses for an Event Management Business

How much does it cost to start an event planning business? Estimating both initial and ongoing expenses is crucial for ensuring the financial sustainability of your event planning business. Let’s see the key areas you need to consider when planning your budget.

Initial expenses for starting an event management business

  • Evaluate rental costs for office space. This could be a dedicated office, a co-working space, or even a home office setup.

Pro tip : Start modestly and scale up as your business grows

  • Factor in the cost of essential equipment like computers, printers, and office supplies.

Pro tip: Consider second-hand equipment initially to manage costs.

  • Allocate funds for website development, business cards, and initial marketing efforts.

Pro tip: Leverage cost-effective digital marketing channels initially, such as social media and content marketing.

  • Budget for workshops, courses, or certifications to enhance your event planning skills.
  • Account for fees related to business registration, permits, and licensing.

Ongoing expenses for event planning business

  • Explore event management software and tools to streamline your operations.

Pro tip: Start with essential tools, such as an event management plugin , and scale up based on your business needs.

  • Include ongoing expenses like electricity, internet, and office maintenance.
  • Allocate a portion of your budget for ongoing marketing efforts to promote your services.
  • Budget for insurance coverage to protect your business from unforeseen circumstances.
  • Set aside funds for attending industry events, networking, and collaborating with other professionals.
  • Dedicate funds for continuous learning and staying abreast of industry trends.

Remember: Always include a contingency fund to address unexpected expenses.

Figure Out the Booking Process for Your Event Planning Business

A streamlined booking process is not just a convenience it’s a key component of delivering a stellar client experience. Here’s a comprehensive guide to help you figure out the booking process for your event planning business and ensure a seamless journey for your clients. A professional event management plugin can be a game-changer for your business. Here’s how:

  • Efficient Workflow

Streamline your workflow with features like automated appointment scheduling, invoice generation, and client communication.

  • Customization

Tailor the plugin to match your unique services, ensuring a personalized booking experience for clients.

  • Data Security

Ensure the security of client information and transactions with a reliable plugin.

  • Time-Saving

Free up time by automating repetitive tasks, allowing you to focus on delivering high-quality services.

Investing in a professional event management plugin not only modernizes your booking process but also positions your business as tech-savvy and client-focused.

What else can you do to make the booking process smooth for your new event planning business?

  • Utilize the customization features of the plugin to tailor the booking process to your specific services and client requirements.
  • Offer free initial consultations to understand clients’ needs and preferences.
  • Tailor your services based on the insights gained during consultations.
  • Invest in an efficient booking system that allows clients to easily select services, choose dates, and make payments.
  • Provide a transparent pricing structure for your services. Consider creating tiered packages or customizable options.

Set up Prices With a Healthy Profit Margin

Setting up prices with a healthy profit margin is a crucial aspect of running a successful event-planning business. Your pricing not only needs to cover expenses but should also reflect the unique value and expertise you bring to your clients. Let’s explore effective strategies to help you determine prices that ensure financial sustainability and growth.

The first thing you need to do is to consider the unique value proposition that sets your event planning business apart from competitors. This could be your expertise in handling specific types of events, personalized services, or innovative event concepts. Price your services based on the perceived value you offer to clients. If your services are known for exceptional quality, creativity, or attention to detail, clients are likely to be willing to pay a premium.

The next step is to research and analyze the pricing strategies of competitors in your area. Understand the average pricing for similar services and assess whether your offerings align with, exceed, or differentiate from the competition.

Once you’re done with that, it’s time to clearly define your profit margin goals. Determine the percentage of profit you aim to achieve for each event. This goal should not only cover your expenses but also contribute to business growth and development.

Remember: Strive for a balance between competitiveness and profitability. While it’s essential to remain competitive in the market, undervaluing your services can lead to long-term financial challenges.

Start Promoting Your Event Management Business

Promoting your event management business effectively is essential to attract clients and establish a strong market presence. Let’s see the strategic approaches to develop a robust online presence and leverage digital marketing to reach a wider audience.

First impressions matter

Your website serves as the digital face of your event management business. Invest in a professionally designed website that reflects your brand identity and showcases your portfolio of successful events.

Blog content

Establish a blog on your website to regularly publish informative and engaging content related to event planning. Share insights, trends, and success stories to position your business as an industry authority.

Visual portfolio

Create a visually appealing portfolio featuring highlights from your previous events. Include high-quality images and detailed descriptions to showcase your capabilities and style.

Choose relevant platforms

Identify the social media platforms most frequented by your target audience. Whether it’s Instagram, Facebook, Twitter, or LinkedIn, maintain active and engaging profiles on these platforms.

Visual storytelling

Utilize the visual nature of social media to tell compelling stories about your events. Share behind-the-scenes glimpses, client testimonials, and updates about upcoming projects.

Keyword optimization

Incorporate relevant keywords throughout your website content to enhance its visibility on search engines. Identify and target keywords specific to event planning and your niche.

Optimize your online presence for local searches by including location-specific keywords. This is crucial for attracting clients in your geographical area.

Claim your business

Claim and optimize your Google My Business listing. Ensure that all information, including your business hours, contact details, and photos, is accurate and up-to-date.

Client reviews

Encourage satisfied clients to leave positive reviews on your GMB profile. Positive reviews enhance your credibility and attract potential clients.

Build a subscriber list

Create a mailing list by encouraging website visitors to subscribe to your newsletters. Use incentives such as exclusive event planning tips, industry insights, or promotional offers.

Targeted campaigns

Develop targeted email campaigns to reach different segments of your audience. For example, send newsletters with wedding planning tips to engaged couples and corporate event ideas to businesses.

Start Selling Your Event Planning Services

Selling event planning services involves more than just showcasing your skills; it’s about telling a compelling story that resonates with potential clients. Let’s explore effective strategies to sell your event planning services, emphasizing expertise, success stories, and the power of testimonials.

Your portfolio is a visual narrative of your expertise. Showcase a diverse range of events you’ve successfully planned, including weddings, corporate functions, and social gatherings.

Testimonials

Request feedback from satisfied clients and showcase their testimonials prominently on your website. Include specific details about their experience, the success of the event, and your role in making it happen.

Case studies

Develop in-depth case studies for select events. Provide a comprehensive overview, detailing the challenges you faced, innovative solutions implemented, and the overall success achieved.

Industry expertise showcase

Establish yourself as a thought leader in the event planning industry. Share your insights, trends, and best practices through blog posts, articles, and participation in industry forums.

Personalized client engagement

When pitching your services to potential clients, customize your presentations to address their specific needs and expectations. Show them that you’ve thoroughly researched and understand their requirements.

Develop client relationships

After successfully executing an event, follow up with clients to gather feedback and express your appreciation. This not only helps in refining your services but also strengthens the client relationship.

Growing and Scaling Your Event Planning Business

As your business matures, consider diversifying the types of events you plan. If you’ve primarily focused on weddings, explore opportunities in corporate events, conferences, or specialized gatherings. This not only broadens your market reach but also mitigates risks associated with reliance on a single event category.

  • Evaluate your current operational processes and identify areas for improvement. Implement efficient workflows and leverage technology to automate repetitive tasks. By streamlining operations, you can handle increased demand without compromising on quality.
  • As your business expands, building a capable team becomes essential. Hire skilled professionals , including event planners, coordinators, and administrative staff. A diverse and talented team contributes to the overall success and efficiency of your operations.
  • Entrust responsibilities to capable team members and empower them to take ownership of specific tasks. Delegating effectively not only lightens your workload but also fosters a collaborative and motivated work environment.
  • Develop comprehensive standard operating procedures (SOPs) for various aspects of event planning. Clearly document processes related to client communication, vendor management, and onsite coordination. Standardized procedures ensure consistency and quality across all events.
  • Identify opportunities for strategic partnerships with businesses that complement your services. This could include collaborating with catering companies, floral designers, or audio-visual experts. Such partnerships enhance your service offering and can lead to mutual referrals.
  • Attend industry conferences and networking events to connect with other professionals and stay informed about industry trends. Networking provides valuable insights, potential collaborations, and opportunities for business growth.
  • Actively seek feedback from clients after each event. Use this feedback to identify areas for improvement and address any concerns. Demonstrating a commitment to continuous improvement reinforces your dedication to client satisfaction.

Invest in a Top-Notch Event Management Plugin

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Meet Amelia, the WordPress Event Calendar and Event Management Plugin that transforms the way you organize virtual and offline events, conferences, meetups, and more. 

Why choose Amelia as your event planning plugin?

Let’s see the key features of Amelia that will help you kickstart a successful event-planning business:

Responsive and customizable

Amelia is a responsive and customizable WordPress event management plugin designed for various event types. Whether you’re an event agency or conference host, Amelia caters to your specific needs.

Recurring events made easy

One standout feature is the ability to set recurring events with various options. Whether it’s a weekly meeting, monthly conference, or an annual gala, Amelia’s clear calendar view helps you manage them effortlessly.

Seamless booking pages

Create booking pages effortlessly using shortcodes or popular page builders like Divi, Elementor, or Gutenberg blocks. With Amelia, your event booking page can be ready in minutes.

Flexible deposit payments

Amelia allows you to set up deposit payments, enabling attendees to pay a partial amount upfront and the rest upon arrival. This flexibility is especially beneficial for on-site events.

Multilingual support

Hosting events in different languages? Amelia has you covered with its translation option, providing a seamless booking experience for your international audience.

Dynamic ticketing

Set different ticket prices based on attendees’ profiles or the date of purchase. Offer early bird tickets, special prices for adults and kids, and control when sales open and close.

Filter and sort with ease

Create event tags and use different colors to distinguish event types, facilitating easy navigation for both organizers and attendees.

Calendar integration

Amelia integrates with Google Calendar and Outlook, ensuring hosts stay organized, and attendees can add events to their calendars with ease.

Which key features of Amelia simplify event hosting?

Virtual sessions and online events.

Amelia caters to the modern trend of hosting events online . With native integrations with Zoom and Google Meet, organizing virtual conferences becomes a breeze.

SMS and Email Reminders

Ensure a high attendance rate with SMS and email reminders, keeping both organizers and attendees in the loop.

Customer and Employee Panels

Manage all aspects of your event, from attendees to venues, with comprehensive customer and employee panels.

Insightful Admin Dashboard

Get real-time insights into key performance indicators with an admin dashboard that streamlines event management.

Fully Customizable Design

Tailor Amelia to your brand with fully customizable design options for seamless integration with your website.

Custom Fields for Booking Forms

Collect specific information by adding custom fields to your booking forms, enhancing the overall booking experience.

Try Amelia Today

Join the ranks of over 30,000 event businesses that trust Amelia for their events calendar. Explore pricing options and see demos to discover how Amelia can elevate your event planning experience!

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How to Plan an Event: Event Planning Steps, Tips & Checklist

ProjectManager

Need to know how to plan an event? If you’re planning a big event like a conference, we can help you successfully create, structure and lay out your event plan. This blog will cover everything you need to consider when planning an event, including event planning steps, tips and an easy-to-use event checklist.

What Is Event Planning?

Event planning is the process of putting on and managing a variety of events, from something as small as a meeting to as big as a convention and everything in between. When event planning you’ll be taking into account every aspect of that event, whether it’s a birthday party or a networking event.

That means you’ll be estimating budgets, creating timelines to schedule the event, reserving the site and any panels or speakers involved, getting necessary permits, food, transportation and more. If the event has a theme, you’ll develop that, too. Plus, you’ll be in charge of securing the needed resources to make the event a success.

event business planning

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Event Plan Template

Use this free Event Plan Template for Excel to manage your projects better.

What Is an Event Plan?

An event plan defines how an event will be executed. It addresses all the components of an event such as the start and end dates, budget , venue, marketing, attendees and more. The scope and complexity of the event plan vary depending on the size of the event, but the fundamental challenges remain the same.

Organizing all those disparate parts, especially for larger events, requires powerful project management software. ProjectManager is award-winning project management software that lets you plan, manage and track your event to ensure it’s a success.

Our powerful Gantt charts help you list all your tasks and the associated resources and costs, assign them to your team and set milestones to track your progress. The whole plan is visible on a project timeline and can be saved by setting a baseline. Now you can track the planned progress against your actual progress to make sure you’re on schedule. Get started with ProjectManager today for free.

Event plan gantt with CTA image

Event Plan Example

Most of us have some experience planning an event, be it at home, work or in our community. For this article, let’s focus on large events.

A conference is a common type of large event, so for our event management purposes, let’s talk about a TEDx conference that we were involved in to illustrate how to plan an event. This example is a good scenario to explain the structure and challenges of planning a big event, along with the benefits of planning an event with project management software .

Let’s break down the other components of setting up an event. They’re summarized below:

  • Event timeline: First, establish a timeline for your event. This timeline should include pre-event planning, event execution and post-event activities.
  • Budget: Estimate your event costs and create a budget. Your available budget will influence many event management decisions such as your venue, the marketing and advertising methods, etc.
  • Venue: The event has to take place somewhere, and that involves logistics management , food and beverages as well as the décor.
  • Marketing: Once you’ve selected a venue, you need to start drawing people to it through a marketing program that can include a website, social campaign, email and print work.
  • Advertising: Hand in glove with marketing is advertising. That can include radio, TV, newspaper and magazine advertisements.
  • Volunteers: A big event needs a big crew of people to get it off the ground and run smoothly. That means volunteers, which means writing contracts, defining their roles, setting up meetings and determining schedules.
  • Speakers: You must have a keynote speaker or a group of speakers to attract an audience. This involves contracts, curators to select the talent, a program, bios and rehearsals.
  • Sponsors: All of this costs money, and a big event’s budget is supplied by its sponsors. This again involves contracts, marketing and logistics.
  • Production: The production involves creating contracts as you work on creating an audio-visual recording of the proceedings, as well as a sound and video broadcast during the event.
  • Stage: The event takes place at a specific venue and on that venue is a stage on which the event proper will be presented. That usually incorporates a projector, screen, microphones, internet connection, batteries, cables and more.
  • Attendees: Don’t forget about the people attending the event! You’ll need communications to inform them of event information, payment processes to collect fees, emails to stay in touch, directions, badges and access points.

Related:  10 Free Event Planning Templates for Excel & Word

Free Event Plan Template

This free event plan template for Excel is a great tool to start assembling the information you need to create an event plan. It can be customized to add your event details.

event planning template for Excel by ProjectManager

The Event Planning Process: Event Planning Steps

We covered a lot on event planning, so let’s break down those tips into concrete steps. These event planning steps will guide you toward success. Let’s continue with our conference example.

  • Step 1. Determine your event goals and objectives
  • Step 2. Assemble your team
  • Step 3. Establish an event budget
  • Step 4. Choose a date & venue
  • Step 5. Select the speakers
  • Step 6. Event marketing & advertising
  • Step 7. Execute your event

When you break down the scope of your event plan into manageable steps, the process seems a lot less daunting. However, there are a few more things to keep in mind when making your event plan.

Event Planning Roles

As you might expect, there are many different roles that work together to bring an event to life. It’s easy to get confused. Are you an event manager or an event planner? Is there any difference between the two? Let’s take a look at some of the more common event-planning roles and define them.

Event Manager

The event manager is often mistaken for the event planner, but they are two distinct roles. Most simply, the event manager is responsible for event management activities, which involve coordinating and implementing the event. They take care of setting up the event, including its design, and make sure the vision of the event planner is realized.

Event Planner

An event planner organizes, coordinates and executes the event. They’re in charge of coming up with the idea, overseeing the setup and breakdown of the event. They’ll select the venue, create the budget and ensure everything is taken care of. What sets them apart is they design the strategy for the event to the smallest detail.

Related: Free Event Budget Template for Excel

Event Producer

The event producer fleshes out the strategic plan of the event planner. They are the one who takes the idea and turns it into a living event. They will take charge of the technical aspects of the event, such as audio/visual, stage design, etc. They work with the event planner to schedule the event , but the event producer uses their skills and expertise in producing events to deliver the event that’ll impress both attendees and the client.

Event Planning Tips

Unfortunately, there are always going to be variables out of your control that’ll affect the event planning process, such as the weather, delivery delays, technical difficulties and other potential mix-ups. As stated earlier, you can’t change the date of your event, so you’ll want to be as prepared as possible for any risks or issues that may pop up on the day of your event.

Do a Post-Event Review

A post-event review or a post-mortem as they’re often called, is very valuable. By looking back at the past event and seeing what worked and what didn’t work, you can better plan your next event. There are always lessons to be learned and applying them to the next project will avoid previous mistakes and increase your chances of a better outcome.

Use Event Planning Templates

Having an event planning template is a great way to make sure you’re not missing any important pieces of the larger event. It’ll help you organize your tasks and resources, costs and more. Use our free event plan template to get started on the right foot.

Use Event Planning Tools

A template is fine, but limited. You have to manually update everything and it’s not very collaborative. Event planning tools, such as Gantt charts , kanban boards, task lists and calendars, help you plan and implement the event plan. They also allow you to track the work to make sure it’s following the plan, which leads to a more successful event.

Prepare a Plan B

As important as your plan is, there can be issues with it. There might be acts of god, such as weather, which negatively impact the event. Whatever the cause, you’ll need a backup. That’s why developing a plan B is so critical to the success of the event. You might never have to use it, but in case you do, you’re prepared.

Use an Event Planning Checklist

Another tip is to have a checklist made up. That way you can collect all the things you have to do and why you’re doing it in one place. Using a checklist for event planning can be done in conjunction with project planning tools . The more safeguards, the better. Also, there are few things more satisfying than crossing something off your list.

Event Planning Checklist

There’s a lot to manage when planning an event, so it’s important to have a list of everything you need to include in your event management plan. The following is a general event planning checklist to help you get started. The more questions you ask, the better your event checklist. Feel free to add your own unique responsibilities and tasks.

Goals and Objectives

  • What’s your event’s reason for existing?
  • What are the goals this event is expected to achieve?
  • What are the revenue objectives?
  • What is your target audience?
  • How many people will attend?
  • Is there a cost associated with ticketing and what is it?
  • Where is the event being held?
  • Create an event schedule.

Event Budget

  • Figure out what the costs will be
  • If you held similar events, use and adjust an old budget for a baseline
  • What ticketing and registration software will be used?
  • Finalize sponsor contributions
  • Set ticket price

Date & Venue

  • When will the event take place?
  • Have a backup date in case issues arise
  • Is there the best location for the event?
  • Is the venue appropriate for your expected number of attendees?
  • Decide on needed infrastructure: wifi, capacity, bathrooms, near shopping & restaurants, etc.
  • Hire a caterer
  • Secure what equipment you’ll need
  • What are your security needs?
  • Do you need permits, licenses or insurance?
  • Create event signage and communication plans for attendees
  • Research potential speakers
  • Create a list of relevant speakers
  • Create a pitch for speakers
  • Pitch speakers
  • Finalize speaker selection, get bios and headshots and arrange travel and accommodations
  • Develop a list of sponsors and what you can offer them.
  • See if there are sponsors who have partnered with similar events.
  • Reach out to potential sponsors.
  • Design signoff.
  • Update the site or build a unique one.
  • Make sure the site can handle expected traffic.
  • Have a mobile-friendly site.

Event Marketing & Advertising

  • What’s your messaging?
  • Coordinate with digital tools and social platforms
  • Add the event to online calendars
  • Market the event with blog posts and other promotions like videos and online ads
  • Send reminders to all parties a month or two before the event date

Finalizing the Last Steps

  • Speakers and scripts
  • Decorations

Pro tip: That’s a lot to coordinate and plan, which is why there’s a need for project management software that has the right features for event management. It provides a common portal, where you can track costs and tasks with automated alerts. It also offers both a communication and a collaborative platform that reduces the need for unnecessary emails. Software collects all your files in one place and makes team reporting simpler by adding efficiencies and reducing stress.

ProjectManager Offers Robust Event Planning Tools

ProjectManager is online software that’s suited for event planning. We have event project management tools to keep all the parts of your events, from managing vendors to promotions, organized. Our planning software helps you keep track of all the elements that make up your event plan.

Keep Stakeholders Updated With Event Calendars

Our multiple project views mean that event planners and managers can use project calendars , Gantt charts and there are task lists and kanban boards for teams. While reports can keep stakeholders informed, they might want to have access to the project. Share the calendar view with your stakeholders, which allows them to see start and end dates for all the tasks as well as milestones. This manages their expectations.

event business planning

Zoom Into Event Activities With Kanban Boards

Use ProjectManager’s kanban board to manage the daily activities that need to be executed to plan, schedule and track your event plan. Move tasks from column to column as you collaborate on work with your team, and it’s easy to spot bottlenecks and get everything over the line in time for the event.

Event plan on a kanban board

Track Event Labor Costs With Timesheets & Real-Time Dashboards

Plus, timesheets make invoicing easy for all your events. They can be submitted and approved with a keystroke. Our software also offers a variety of views, from a list to a calendar and even a kanban board that helps you visualize the workflow to keep on task.

ProjectManager's timesheets are ideal for event planning

More About Planning an Event

Event planning can be complex. There’s a lot of balls to keep in the air. If the above is too much to digest immediately, you could start with our event plan template and watch one of our planning experts. Jennifer Bridges, PMP, has years of experience and uses it to teach you the fundamentals of event planning in this short video.

Related Content

  • Free Event Proposal Template
  • Event Management: A Quick Guide
  • How to Plan a Virtual Event: Virtual Event Planning Checklist
  • Event Project Management Software

ProjectManager is award-winning project management software that helps you plan and monitor your event details. From powerful planning tools to real-time reports and dashboards that capture all of your event details, you can use our software to stay on schedule and stick to your planned budget. Try our software today with a free 30-day trial.

Click here to browse ProjectManager's free templates

Deliver your projects on time and under budget

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How to Start an In-Person Event Planning Business in 2024

February 20, 2024

Posted on February 20, 2024

How to start an in-person event planning business in 2024.

From lavish weddings to cushy corporate Christmas parties, everyone loves a big, splashy event. Of course, the best events require significant front-end planning , ensuring that everything from the venue to the menu is up to snuff.

If you love big events, are gifted in organization, and long for a truly creative and personalized line of work, starting an in-person event planning business may be right up your alley. But what steps do you need to take to get your company off the ground? And what are the key legal and financial considerations to make on the front end?

Table of Contents

Event Planning 101

We’ll get into all of that, but first, it might be helpful to summarize exactly what an in-person event planning company is. 

When you run an event planning company, you work with individuals, families, and business organizations as they seek to plan and execute large-scale events. Again, think weddings, big birthday parties, corporate soirees, and more.

There are a number of responsibilities that fall to the event planning company. A typical list of duties includes:

  • Scouting and securing the ideal venue .
  • Offering multiple venue, catering, decorating, and entertainment options to the client, allowing them to weigh in on preference and price point.
  • Creating and sticking to a budget, with the client’s approval.
  • Ensuring that all local laws are upheld, particularly with regard to alcohol service, venue occupancy, etc.
  • Coordinating with all vendors to ensure the most seamless possible experience for attendees.
  • Providing troubleshooting and logistical support during the event itself.
  • Giving vendors the necessary information regarding attendance numbers, dietary preferences, and the like.

There’s a lot that goes into in-person event planning, and to thrive in this field requires you to be gifted in communication, problem solving, time management, organization, and beyond.

What are the Steps for Beginning an In-Person Event Planning Company?

If you’re interested in launching your own bespoke event planning company, there are a few steps you’ll want to complete.

1) Cultivate experience.

To succeed in this business, you’ll need to have a full portfolio of skills. And, you’ll need to be able to convince potential clients that you have the expertise to pull off their event. One way to get both of these birds with one stone is to develop plenty of industry experience on the front end.

Getting entry-level work or even securing an internship with an event planning company can go a long way. It may also be worthwhile seeking a degree in event management, hospitality, business, or another relevant field.

2) Establish a vision.

Not all event planning companies are created equal. Before you get yours off the ground, it may be helpful to articulate exactly what you’ll do and how you’ll define success. Your business vision or mission statement might include:

  • A set of values you’ll try to uphold.
  • A general list of the services you’ll provide.
  • A summary of your target market or key demographics.
  • A summary of the type of experience you want your clients to have.
  • Some reflections on what will set you apart from your competitors.

A good vision document can provide guidance as you build out your event planning business.

3) Conduct market research.

You can do this step in conjunction with the previous one, as your vision statement may be influenced by your market research . Certainly, you’ll want to have a good sense of local demographics before you define your target audience. Also make sure you consider things like dietary or religious preferences that might be common to your core audience; these factors may include the way you run your business.

Be sure to also research competitors. Keep a list of the biggest event planning companies serving your areas, and be strategic in how you articulate your distinct value proposition.

4) Make a business plan.

Your business plan is a bit more concrete and a bit more specific than your vision statement. It may include such data points as:

  • Clearly defined goals for both the long-term and the short-term.
  • A timeline for when/how often you’ll review your business plan, making revisions as needed.
  • A summary of your staff infrastructure, along with basic allocations of duties and responsibilities.
  • A basic financial summary, including your source of starting capital, accounting system, a budget of monthly expenses, and revenue goals.

5) Invest in marketing.

Your event planning company will likely grow largely on the basis of word-of-mouth buzz. With that said, there are some important marketing investments you’ll want to make, over and above individual referrals. In particular:

  • Make sure you have a website that’s mobile-friendly, fast to load, and easy to navigate.
  • Set up shop on image-heavy social platforms (think Instagram), uploading high-quality photos of well-executed events.
  • Solicit reviews and testimonials from your satisfied customers.
  • Consider additional investments in blogging, PPC, and digital video.
  • Use a press release service to announce major milestones at your company, a great way to gain SEO value and backlinks.

What About the Legal Aspect of Business Ownership?

Beyond these basic considerations, you’ll also want to make sure you have the right legal positioning for the long-term success of your event planning company.

There are multiple legal structures you can choose for your business, but generally speaking, the most advantageous is the Limited Liability Company (LLC).

What is an LLC?

The LLC actually creates a distinct legal entity, meaning you can enjoy a clean line of distinction between yourself and your company. Among other benefits, this allows you to protect your personal wealth from litigation or potential creditors.

Additional merits of the LLC format include:

  • Different options for how you report your taxes.
  • Ample flexibility with regard to management structures
  • Relatively light annual reporting requirements
  • Ease of setup and administration
  • Plenty of leeway to scale and grow

How to Register Your LLC

As you can probably guess, establishing a new legal entity requires you to jump through a few hoops. Here’s a basic summary of everything you need to do to register your event planning company as an LLC.

  • Choose a name for your business. This is about more than just branding. You also need to ensure legal compliance, by selecting a name that isn’t already in use by another LLC in your state. There should be an online directory you can check.
  • Name a Registered Agent. Every LLC needs an agent to receive legal/tax correspondence on the business’s behalf. Being your own Registered Agent is allowed in some states, but it is more common to hire a third-party service.
  • File Articles of Organization. This document will detail the name and mission of your company, the names of your partners, and the contact information for your Registered Agent. File with the state, pay the filing fee, and allow three to four weeks for the approval process (on average).
  • Draft an Operating Agreement. This important document serves as a constitution for your LLC, denoting how responsibilities are allocated between partners, how assets are split, and how new partners may be brought into the fold.

Other Considerations for Launching Your LLC

Some additional steps for getting your event planning LLC up and running include:

  • Get an Employer Identification Number. Your EIN can be obtained from the IRS, and for U.S. citizens, it’s free. You’ll need this number to pay your taxes and to process payroll.
  • Set up a bank account. We recommend having a business bank account that is not linked to any personal checking or savings accounts.
  • Pay your LLC taxes. As of right now, there is only one state that requires LLCs to pay a special tax. That’s the State of California, where LLC taxes are $800 annually (flat rate). But you may need to pay a small fee each year to keep your registration active, no matter which state you’re in.

Seek Success Through Excellent Event Planning

Event planning can be a highly rewarding field for people who are sociable, creative, and good at organization. Make sure you follow all the right steps to establish a foundation for success.

The author Amanda E. Clark  is a contributing writer to LLC University . She has appeared as a subject matter expert on panels about content and social media marketing, as well as general topics related to small business ownership.

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Microsoft Gaming CEO Phil Spencer: Xbox is planning a 'business update event' for next week

What you need to know.

  • Rumors and speculation have grown exponentially over the last weeks regarding the possibility that Microsoft would be bringing Xbox first-party games to different consoles. 
  • The speculation hit critical mass over the weekend, with reports that titles like Starfield were being considered for a PlayStation 5 launch. 
  • Microsoft Gaming CEO Phil Spencer shared on Monday that there is a "business update event" for Xbox coming next week. 

Here we go. 

"We're listening and we hear you," Microsoft Gaming CEO Phil Spencer shared on Monday via Twitter. "We've been planning a business update event for next week, where we look forward to sharing more details with you about our vision for the future of Xbox. Stay tuned."

The comment comes after weeks of speculation and whispers around Xbox first-party games being ported to other consoles reached a fever pitch over the past weekend, with reports indicating that Starfield and Indiana Jones and the Great Circle were some of the titles being considered for a PlayStation 5 launch.

What does this mean for Xbox players?

The short answer is that we don't know. Despite the amount of speculation going on right now, no one outside of Microsoft completely knows what the plan will be. The longer answer is that it seems extremely likely at least some games (namely, Hi-Fi Rush) will be getting ported to other platforms. What's the logic for these games to go elsewhere? Will it be all games or some? How long after the Xbox and Windows PC launch should players on other consoles expect to wait? 

And that's all in addition to other already-outstanding questions, such as when Xbox players can expect to see Activision Blizzard games hitting Xbox Game Pass .

These are just some of the questions with no iron-clad answers right now. Hopefully, we'll be getting crystal-clear answers during the "business update event" next week. 

Analysis: Oy vey, what a week

Before everything happens, I'd want to emphasize that I empathize with the Xbox communications team, who are only doing their jobs in trying to message things and will, no matter what is actually going on, have a Herculean effort ahead of them in figuring out how to word things with precision. 

And that last word is exactly the key, precision. Everything will have to be spelled out, with no room for error or any possibilities of something being misconstrued. 

Speculation is a fool's errand, but I've never been one to shy away from predictions, so I'll put my thoughts out there for what we'll get. Games moving to being multiplatform should probably be expected across the board, with timed exclusivity of a year or two depending on the scope of the game and the size of the team in question. 

While I know some are worried about hardware, I'm not expecting that to go anywhere. People with digital libraries are locked in, and Xbox Game Pass can still be used to attract interest for anyone that hasn't yet decided to pick up an Xbox Series X or Xbox Series S console. 

 Microsoft Gaming CEO Phil Spencer: Xbox is planning a 'business update event' for next week

event business planning

Delivering Copilot for everyone

Feb 7, 2024 | Yusuf Mehdi - Executive Vice President, Consumer Chief Marketing Officer

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Three screenshots of Microsoft Copilot

As we approach Super Bowl weekend, we’re thrilled to be a part of the festivities for the first time in four years. This year, we’re proud to celebrate the transformative power of AI and Microsoft Copilot, showcasing peoples’ “watch me” moments with Copilot enabling people to do things previously unattainable. With a simple sentence or two, you will see a budding entrepreneur turn a fledgling idea for a new product into an actionable business plan, a filmmaker’s concept into a rich set of storyboards, and a fantasy football player’s team come to life with a mascot image they can edit inline.

Coincident with the launch of our Super Bowl ad , we are also launching a significant new update to our Microsoft Copilot experience on copilot.microsoft.com and our Copilot app on iOS and Android app stores.  Today when you visit Copilot, you will see a more streamlined look and feel designed to help you bring your ideas to life and more easily gain understanding about the world. We have introduced a cleaner, sleeker look and feel for answers and a fun new carousel of suggested prompts to showcase the power of Copilot.

Today marks exactly one year since our entry into AI-powered experiences for people with Bing Chat. In that year we have learned so many new things and seen the use of our Copilot experiences explode with over 5 billion chats and 5 billion images created to date which have led to sustained growth in Edge and Bing share. Now with Copilot as our singular experience for people looking to get more out of AI creation, we are today introducing further image creation capabilities.

With Designer in Copilot, you can go beyond just creating images to now customize your generated images with inline editing right inside Copilot 1 , keeping you in the flow of your chat. Whether you want to highlight an object to make it pop with enhanced color, blur the background of your image to make your subject shine, or even reimagine your image with a different effect like pixel art, 2 Copilot has you covered, all for free.  If you’re a Copilot Pro subscriber, in addition to the above, you can also now easily resize and regenerate images between square and landscape without leaving chat. Lastly, we will soon roll out our new Designer GPT inside Copilot, which offers an immersive, dedicated canvas inside of Copilot where you can visualize your ideas.

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Copilot is free to use and works on Microsoft Edge, Chrome, Firefox and Safari. Or download the Copilot mobile app on iOS or Android .

AI is the defining technology of our time. Microsoft’s advancements in AI align with our company mission to empower every person and organization on the planet to achieve more. With Copilot, we’re democratizing our breakthroughs in AI to help make the promise of AI real for everyone.

1 Available in English in the United States, United Kingdom, Australia, India and New Zealand.

2 15 daily boosts included in Copilot, 100 daily boosts with a Copilot Pro subscription to be used for creative needs, faster image generation, and more detailed images.

Tags: AI , Copilot Pro , Microsoft Copilot , Microsoft Designer

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MoSCoW Prioritization

What is moscow prioritization.

MoSCoW prioritization, also known as the MoSCoW method or MoSCoW analysis, is a popular prioritization technique for managing requirements. 

  The acronym MoSCoW represents four categories of initiatives: must-have, should-have, could-have, and won’t-have, or will not have right now. Some companies also use the “W” in MoSCoW to mean “wish.”

What is the History of the MoSCoW Method?

Software development expert Dai Clegg created the MoSCoW method while working at Oracle. He designed the framework to help his team prioritize tasks during development work on product releases.

You can find a detailed account of using MoSCoW prioritization in the Dynamic System Development Method (DSDM) handbook . But because MoSCoW can prioritize tasks within any time-boxed project, teams have adapted the method for a broad range of uses.

How Does MoSCoW Prioritization Work?

Before running a MoSCoW analysis, a few things need to happen. First, key stakeholders and the product team need to get aligned on objectives and prioritization factors. Then, all participants must agree on which initiatives to prioritize.

At this point, your team should also discuss how they will settle any disagreements in prioritization. If you can establish how to resolve disputes before they come up, you can help prevent those disagreements from holding up progress.

Finally, you’ll also want to reach a consensus on what percentage of resources you’d like to allocate to each category.

With the groundwork complete, you may begin determining which category is most appropriate for each initiative. But, first, let’s further break down each category in the MoSCoW method.

Start prioritizing your roadmap

Moscow prioritization categories.

Moscow

1. Must-have initiatives

As the name suggests, this category consists of initiatives that are “musts” for your team. They represent non-negotiable needs for the project, product, or release in question. For example, if you’re releasing a healthcare application, a must-have initiative may be security functionalities that help maintain compliance.

The “must-have” category requires the team to complete a mandatory task. If you’re unsure about whether something belongs in this category, ask yourself the following.

moscow-initiatives

If the product won’t work without an initiative, or the release becomes useless without it, the initiative is most likely a “must-have.”

2. Should-have initiatives

Should-have initiatives are just a step below must-haves. They are essential to the product, project, or release, but they are not vital. If left out, the product or project still functions. However, the initiatives may add significant value.

“Should-have” initiatives are different from “must-have” initiatives in that they can get scheduled for a future release without impacting the current one. For example, performance improvements, minor bug fixes, or new functionality may be “should-have” initiatives. Without them, the product still works.

3. Could-have initiatives

Another way of describing “could-have” initiatives is nice-to-haves. “Could-have” initiatives are not necessary to the core function of the product. However, compared with “should-have” initiatives, they have a much smaller impact on the outcome if left out.

So, initiatives placed in the “could-have” category are often the first to be deprioritized if a project in the “should-have” or “must-have” category ends up larger than expected.

4. Will not have (this time)

One benefit of the MoSCoW method is that it places several initiatives in the “will-not-have” category. The category can manage expectations about what the team will not include in a specific release (or another timeframe you’re prioritizing).

Placing initiatives in the “will-not-have” category is one way to help prevent scope creep . If initiatives are in this category, the team knows they are not a priority for this specific time frame. 

Some initiatives in the “will-not-have” group will be prioritized in the future, while others are not likely to happen. Some teams decide to differentiate between those by creating a subcategory within this group.

How Can Development Teams Use MoSCoW?

  Although Dai Clegg developed the approach to help prioritize tasks around his team’s limited time, the MoSCoW method also works when a development team faces limitations other than time. For example: 

Prioritize based on budgetary constraints.

What if a development team’s limiting factor is not a deadline but a tight budget imposed by the company? Working with the product managers, the team can use MoSCoW first to decide on the initiatives that represent must-haves and the should-haves. Then, using the development department’s budget as the guide, the team can figure out which items they can complete. 

Prioritize based on the team’s skillsets.

A cross-functional product team might also find itself constrained by the experience and expertise of its developers. If the product roadmap calls for functionality the team does not have the skills to build, this limiting factor will play into scoring those items in their MoSCoW analysis.

Prioritize based on competing needs at the company.

Cross-functional teams can also find themselves constrained by other company priorities. The team wants to make progress on a new product release, but the executive staff has created tight deadlines for further releases in the same timeframe. In this case, the team can use MoSCoW to determine which aspects of their desired release represent must-haves and temporarily backlog everything else.

What Are the Drawbacks of MoSCoW Prioritization?

  Although many product and development teams have prioritized MoSCoW, the approach has potential pitfalls. Here are a few examples.

1. An inconsistent scoring process can lead to tasks placed in the wrong categories.

  One common criticism against MoSCoW is that it does not include an objective methodology for ranking initiatives against each other. Your team will need to bring this methodology to your analysis. The MoSCoW approach works only to ensure that your team applies a consistent scoring system for all initiatives.

Pro tip: One proven method is weighted scoring, where your team measures each initiative on your backlog against a standard set of cost and benefit criteria. You can use the weighted scoring approach in ProductPlan’s roadmap app .

2. Not including all relevant stakeholders can lead to items placed in the wrong categories.

To know which of your team’s initiatives represent must-haves for your product and which are merely should-haves, you will need as much context as possible.

For example, you might need someone from your sales team to let you know how important (or unimportant) prospective buyers view a proposed new feature.

One pitfall of the MoSCoW method is that you could make poor decisions about where to slot each initiative unless your team receives input from all relevant stakeholders. 

3. Team bias for (or against) initiatives can undermine MoSCoW’s effectiveness.

Because MoSCoW does not include an objective scoring method, your team members can fall victim to their own opinions about certain initiatives. 

One risk of using MoSCoW prioritization is that a team can mistakenly think MoSCoW itself represents an objective way of measuring the items on their list. They discuss an initiative, agree that it is a “should have,” and move on to the next.

But your team will also need an objective and consistent framework for ranking all initiatives. That is the only way to minimize your team’s biases in favor of items or against them.

When Do You Use the MoSCoW Method for Prioritization?

MoSCoW prioritization is effective for teams that want to include representatives from the whole organization in their process. You can capture a broader perspective by involving participants from various functional departments.

Another reason you may want to use MoSCoW prioritization is it allows your team to determine how much effort goes into each category. Therefore, you can ensure you’re delivering a good variety of initiatives in each release.

What Are Best Practices for Using MoSCoW Prioritization?

If you’re considering giving MoSCoW prioritization a try, here are a few steps to keep in mind. Incorporating these into your process will help your team gain more value from the MoSCoW method.

1. Choose an objective ranking or scoring system.

Remember, MoSCoW helps your team group items into the appropriate buckets—from must-have items down to your longer-term wish list. But MoSCoW itself doesn’t help you determine which item belongs in which category.

You will need a separate ranking methodology. You can choose from many, such as:

  • Weighted scoring
  • Value vs. complexity
  • Buy-a-feature
  • Opportunity scoring

For help finding the best scoring methodology for your team, check out ProductPlan’s article: 7 strategies to choose the best features for your product .

2. Seek input from all key stakeholders.

To make sure you’re placing each initiative into the right bucket—must-have, should-have, could-have, or won’t-have—your team needs context. 

At the beginning of your MoSCoW method, your team should consider which stakeholders can provide valuable context and insights. Sales? Customer success? The executive staff? Product managers in another area of your business? Include them in your initiative scoring process if you think they can help you see opportunities or threats your team might miss. 

3. Share your MoSCoW process across your organization.

MoSCoW gives your team a tangible way to show your organization prioritizing initiatives for your products or projects. 

The method can help you build company-wide consensus for your work, or at least help you show stakeholders why you made the decisions you did.

Communicating your team’s prioritization strategy also helps you set expectations across the business. When they see your methodology for choosing one initiative over another, stakeholders in other departments will understand that your team has thought through and weighed all decisions you’ve made. 

If any stakeholders have an issue with one of your decisions, they will understand that they can’t simply complain—they’ll need to present you with evidence to alter your course of action.  

Related Terms

2×2 prioritization matrix / Eisenhower matrix / DACI decision-making framework / ICE scoring model / RICE scoring model

Prioritizing your roadmap using our guide

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event business planning

Your Complete Guide to Break Into the Event Planning Business

event business planning

You love meeting new people, are calm under pressure, and are a whiz at prioritizing tasks . But is the event planning business right for you ?

Whether you’re a student looking for advice on how to break into the event planning business or an experienced professional wanting to change tracks, this roadmap can help guide your way.

Discover the skills, tools, and tactics you need to know before becoming an event planner.

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The 7 vital event planning skills

“Event coordinator” was named the 5th most stressful job in 2017 , listed only after jobs that pose a threat to physical safety. And it’s easy to see why: the job is fast-paced and demanding. Here’s a list of the skills and personality traits you’ll need to succeed as an event planner.

1. Project management

Between vendor contracts, venue permits, and ticket sales or RSVPs, there are a lot of moving parts for even just one event, let alone multiple events. And whether you have a large team or you’re doing it alone, organization and project management are key to ensure sure nothing slips through the cracks. That means you need to keep your to-do list in order, delegate tasks, and streamline your workflow.

2. Multi-tasking

To successfully run any event, you need to be able to juggle multiple projects at once. Setting up your marketing, talking to sponsors, and finalizing paperwork all happen concurrently. The best planners have foolproof systems, step-by-step checklists , and handy tech tools .

3. Detail oriented

Working in events requires the ability to focus on the big picture while keeping track of all the little details. And if things don’t go according to plan, you always have plan “B” you can switch over to. To be successful, you need to care about the little things. A misspelled name on your website or poor signage can be the difference between a great event — and one that people don’t take seriously.

4. Problem-solving

Whether it’s tracking down some emergency duct tape or reworking a keynote presentation at the last minute, you have to be resourceful with what you have. No matter how well you plan, something will go wrong . These things will be easier to address if you enjoy plan in advance — and you are good at finding creative solutions to the challenges that arise.

5. Calm under pressure

Your team will look to you for answers to almost everything. In moments of stress, the last thing they need is a shaky leader who makes poor decisions because they’re cracking under the pressure, overwhelmed by all the choices in front of them.

Successful event managers stay level-headed and continue to treat everyone with respect, no matter what. The key is to remain cool, calm, and collected when dealing with other people, even if you’re a bundle of nerves inside.

6. Relationship building

The number one quality shared by successful event managers? People skills. You need to be comfortable connecting with high-level executives, government officials, vendors, co-workers, sponsor reps, customers, supervisors, suppliers, staff, and event attendees.

To successfully work with this wide range of people, you’ll need to be able to nimbly resolve conflicts, be a confident but pleasant negotiator, and maintain your sense of humor. You can’t do it all by yourself, so building relationships is key.

7. Negotiation

From vendor contracts to securing quality sponsors, there is a lot of negotiation involved in the daily life of an event creator. You need to be comfortable researching options, haggling with vendors to bring prices down, and hunting for the best pricing available to you.

event planning personality quiz

How to get event planning experience

It’s not easy tackling your first event without some prior experience. There are just some skills event planners can only learn on the ground while helping run an event.

Here are a few ways you can dip your toes in the world of event planning and prepare yourself for your first full gig.

Volunteer or entry-level positions

Internships and volunteer positions can all help you get enough real-world experience to land your first job. Reach out to events in your area that you admire and see if you can volunteer on their team. Most teams would be grateful for event volunteers , especially on event day.

You can also research job opportunities at universities, businesses, and hospitality organizations for entry-level job openings.

Here’s a list of example entry-level position titles to keep your eye out for:

  • Administrative assistant
  • Catering coordinator
  • Meeting management coordinator
  • Guest relations coordinator
  • Volunteer event coordinator
  • Events associate

Complete an internship

An internship can help provide valuable, hands-on experience — as well as a taste of what event planning will actually be like. Event planning is a stressful job and it’s important when making a switch that you’re doing it with eyes open.

Want more ideas? Here are four additional ways to earn experience:

  • Networking : Join organizations like Meetings Professionals International
  • Conferences: Attend event planning events ( this article outlines the top 10 )
  • Start small: Build up your skills by coordinating meetings and forums
  • Find a mentor: This could be someone you worked with before or someone you meet at a conference or networking event

Get an event management certification

There are a number of certifications you can pursue, depending on your interest and the type of events you would like to work on . Going through a course and getting a certification to add to your resume can help you beef up your skills when starting out — and stay current on what’s changing in the industry once you become more established.

Courses include:

  • Certified meeting professionals — for convention, meeting, and exhibition event planners
  • Certified special events professional (CSEP) —  for professional development
  • Certified government meeting professional (CGMP) — for federal, state, or local government meeting planners
  • Certified professional in catering and events (CPCE) — for catering, hospitality , and events organizers

Eventbrite also offers a selection of free, online event planning courses to get certified in the skills you need to grow your career. These include the Event Marketing Course and Event Sponsorship Course and Certification .

How to Maximize Your Event Budget

Master the tools of the event planning trade

The best event creators rely on specific tools (some of them free) to help them reclaim time from their busy days. The following four are ones that anyone starting out in events should know about before they tackle the job. If you’re planning to build your own event planning business, this is the technology you’ll be relying on.

Project management software: Basecamp

The OG of project management software, Basecamp combines all the tools your team needs in a single, straightforward package that makes it easier to collaborate, organize, and tackle your work. From to-do lists and real-time group chats to documents and file storage, Basecamp helps you keep staff aligned with workflows that you can set and forget.

Communication software: Slack

Similar to Basecamp, Slack is a project management software that can help your team work together better and get things done. Use it to organize your team conversations in open channels for projects, topics, a team, pretty much anything, so everyone has a transparent view of what’s going on. You can also use it to drop in files and share them with anyone you want.

Event ticketing and registration software: Eventbrite

Your ticketing and registration software is one of the most important decisions event planners make .

Does it help you and your team streamline their work, or are you still jumping between different programs? Is it freeing you up to apply your expertise to strategy and innovation, or is it holding you back? More importantly, does your boss think that the investment is helping their business grow?

With powerful discovery channels, robust marketing tools, and industry-leading conversion rates, Eventbrite can help you zero in on the most interested event-goers and sell more tickets to your event. Learn how to get started in this free on-demand demo .

Automation software: Zapier

As an event creator, you’ll find that you do the same tasks over and over again. Zapier is a useful tool that helps you automate those tasks. For example, if you’re using a Google Sheet to keep your event attendees organized, a Zap can log new attendees to the Sheet as they buy tickets through Eventbrite. Learn more in The Top 5 Ways Event Creators Save Time with App Automation .

How to Identify the Gaps (and Overlaps) on Your Events Team

How to start an event planning business

Once you get some experience under your belt and feel ready to make the leap into starting your own business, there’s a whole new set of steps to tackle. Becoming an event planning entrepreneur requires its own chunk of research and time. Here are four vital steps you must take.

1. Create a business plan

Creating a business plan helps you get organized and attract partners, investors, and clients. It’s also a document that will serve as an important touchstone for you as you grow your business. In a nutshell, it’s a document that describes your objectives, your financial forecast, and the strategies for sales and marketing that will support your business to grow.

Tip: Use this business plan as a template for your own event. Check out the post for tips to build your own.

2. Clarify your goals and objectives

The events industry is enormous, and there is definitely a place for your event planning business. Setting your goals and objectives for your business will help you decide which part of the industry you want to go after — and how much you want to be earning in two, five, and 10 years.

Tip: Make a list of potential clients, including local businesses, people you’ve worked with previously as an event manager, and dream accounts. Then, make a plan to approach them .

3. Finalize your budget

There are many small-business expenditures you might not be aware of, from taxes to insurance to licenses. Make sure you do your research , so you know exactly what you’ll need to pay for. Doing so will help you determine the feasibility of your business plan (like whether to start your business out of your home or rent a space to begin with).

Tip: Knowing how much money you’ll need coming in will help you determine how much to charge for your services.

4. Acquire necessary licenses and permits

Part of your business plan is mapping out your outgoings, including taxes and fees for licenses and permits. Depending on your location, your local government will have specific laws around types of businesses and the permits each requires. Be sure to do your due diligence in the planning phase on these important details — so you don’t risk paying fines later on!

Tip: Your taxes will get a whole lot more complicated once you set out on your own. Be sure to partner with a tax professional who specializes in the type of business you plan to run.

How to build your event planning business

Now that you know the basics of breaking into the event planning business, learn more about creating your team in Event Staffing: How to Build an All-Star Events Team .

Event Staffing: How to Build an All-Star Events Team

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Katie Sawyer

Katie Sawyer is a writer at Eventbrite, where she helps event organizers throw awesome festivals, food and drink bonanzas, and cultural events. You can find her sampling beer, stuffing her face with cookies, and checking out local comedy shows.

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How Machine Learning Will Transform Supply Chain Management

  • Narendra Agrawal,
  • Morris A. Cohen,
  • Rohan Deshpande,
  • Vinayak Deshpande

event business planning

Businesses need better planning to make their supply chains more agile and resilient. After explaining the shortcomings of traditional planning systems, the authors describe their new approach, optimal machine learning (OML), which has proved effective in a range of industries. A central feature is its decision-support engine that can process a vast amount of historical and current supply-and-demand data, take into account a company’s priorities, and rapidly produce recommendations for ideal production quantities, shipping arrangements, and so on. The authors explain the underpinnings of OML and provide concrete examples of how two large companies implemented it and improved their supply chains’ performance.

It does a better job of using data and forecasts to make decisions.

Idea in Brief

The problem.

Flawed planning methods make it extremely difficult for companies to protect themselves against supply chain disruptions.

A new approach, called optimal machine learning (OML), can enable better decisions, without the mystery surrounding the planning recommendations produced by current machine-learning models.

The Elements

OML relies on a decision-support engine that connects input data directly to supply chain decisions and takes into account a firm’s performance priorities. Other features are a “digital twin” representation of the entire supply chain and a data storage system that integrates information throughout the supply chain and allows for quick data access and updating.

The Covid-19 pandemic, the Russia-Ukraine conflict, trade wars, and other events in recent years have disrupted supply chains and highlighted the critical need for businesses to improve planning in order to be more agile and resilient. Yet companies struggle with this challenge. One major cause is flawed forecasting, which results in delivery delays, inventory levels that are woefully out of sync with demand, and disappointing financial performance. Those consequences are hardly surprising. After all, how can inventory and production decisions be made effectively when demand forecasts are widely off?

  • Narendra Agrawal is the Benjamin and Mae Swig Professor of Information Systems and Analytics at Santa Clara University’s Leavey School of Business.
  • Morris A. Cohen is the Panasonic Professor Emeritus of Manufacturing & Logistics at the University of Pennsylvania’s Wharton School. He is also the founder of AD3 Analytics, a start-up that developed the OML methodology for supply chain management.
  • Rohan Deshpande is a machine learning scientist at Cerebras Systems and a former chief technology officer at AD3 Analytics.
  • Vinayak Deshpande is the Mann Family Distinguished Professor of Operations at the University of North Carolina’s Kenan-Flagler Business School.

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    1. Research and market analysis The first step is to have a clear picture of the market landscape. Your goal? Uncover opportunities and threats, so you can position your business effectively. Here's how you can approach it, step by step: Identify your competitors: Who's already out there? What services do they offer, and at what price points?

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  27. [Guide] How to Get Started in The Event Planning Business

    1. Project management Between vendor contracts, venue permits, and ticket sales or RSVPs, there are a lot of moving parts for even just one event, let alone multiple events. And whether you have a large team or you're doing it alone, organization and project management are key to ensure sure nothing slips through the cracks.

  28. How Machine Learning Will Transform Supply Chain Management

    The Covid-19 pandemic, the Russia-Ukraine conflict, trade wars, and other events in recent years have disrupted supply chains and highlighted the critical need for businesses to improve planning ...