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Here's what to know about starting an event planning business



If you don’t want to work in a cubicle all your life and see yourself in the event industry, managing and organizing events then you have come to just the right place. We will tell you everything you need to know about starting an event planning business. 

The event industry is huge and there are events happening almost every day around the world. If you have volunteered for events in the past or organized a few and now want to make it as your sole profession then there are some steps you can take to step into this ever-booming industry. 

 

Gaining the Experience

It’s like every other profession. You need to have some experience before starting your own business. You need to know about event planning from inside-out. You need to grow your skills and knowledge on the subject. Here are some of the most important ones. 

1) Strong communication skills

2) Time management

3) Organizing skills

4) Finance management

5) General creativity, and crisis management 

6) Marketing

It’s better that you enroll yourself in a course where you get the right kind of exposure that will be required to start your own business. 

 

Identifying your niche

Now event planning has a wide horizon. You have to choose your niche because events involve weddings, corporate meetings, fundraisers, concerts, etc. You may feel like providing all kinds of event services but make sure that you have prior experience in the kind of events you are choosing to organize.

 


Funding

Funding is a big part of running a start-up and moving forward with the business. You need to have some cash in hand to start the business as there will be multiple expenses from legal fees to advertising, insurance, and employee salary. You can take a business loan in such a case or find someone to assist your financial needs. 

 

Marketing

Once you start your business, you need to market yourself so that you can reach your target customers. You can do that by expanding your social media, increase word of mouth and join online community forums. 


The large part of your business will come from references so make sure that you put the effort into building that. If you have already organized a few events, make sure that there is client testimonial available on the internet. This helps in generating goodwill in the market. 

 

Grow Partners

You certainly can’t do everything yourself from being a floor manager to catering, and photography. You need to get in touch with those working in the industry to be your partners. Being an event organizer requires you to have contacted so that you can plan and organize an event smoothly. 

 

Decide your Fee

You need to count on all the expenses, your effort, your time and the quality you are bringing to the event. On the basis of that, you need to set a fixed rate or a variable rate. 



Fixed-rate or not depends highly on the type of event itself. So, make sure that you at least think about the base fee. 

Remember that before starting out as an event planner, you have the required experience. The best part is that you can start out as an event organizer at any point in your life. So, if you want to learn everything about planning and organizing an event and want to gain experience in the field, you can enroll yourself in Wedding Management Institue right now.