Starting an event planning business can be a very exciting endeavor, but one that will require you to plan and carefully coordinate your clients, employees and vendors. Many people consider the entrepreneurial route, but it is a risky road to take, especially if you don't set yourself up for success. You don't have to sell a unique product, but you should offer a one-of-a-kind service.

Anyone can start an event-planner business with the right attitude and financial backing. Competition will be fierce. You can't expect to put your feet up because it's your own business. On the contrary, you should expect to work very hard in the beginning. Before quitting your full time job to become your own boss and open an event-planning business, ask yourself the following:

1. Are you committed? It takes more than just a good idea to launch event planner business services. It takes time, money and hard work.

2. If applicable, do you have the right partners? Friends are not always good business partners. Vet potential partners as objectively as possible.

3. Have you done your research to make sure there's demand for your product or service? You may have a great idea, but how many others have the same idea?

Action Steps
The best contacts and resources to help you get it done

Open an event-planner business with credibility and get licensed

All businesses are legally required to obtain some type of government license. Other official documents include seller's permits, federal and state employer tax ID numbers, and trade name certificates. There are many online resources and state departments that can help you file these documents.

I recommend: Business Licenses is a fee-based online resource with statewide permits, including home occupation permits for entrepreneurs who wish to open an events planning business from home. Business.gov can assist you in obtaining the necessary federal, state and local permits, licenses, and registrations for starting your business successfully. Use their “Permit Me” tool for efficiency.

Join an association and build industry credibility when you open event-planner small business

As a new business owner, you don't have to go it completely alone. Consider joining an industry association for support. Organizations bring together professionals with the same goals and challenges. As a member you have access to certification and educational opportunities. You'll also be able to attend networking events so you can meet industry peers, vendors and suppliers.

I recommend: Meeting Professionals International offers educational conferences and events. The International Special Events Society provides certification based on a combination of industry education, service, experience and performance.

Partner with reliable vendors when you open a event-planner service

As a business owner, it's imperative that you partner with vendors that can help your grow your company. Your vendors must be dependable, accommodating, offer a wide variety of products, and be reasonably priced. You want to build a long-term relationship with your suppliers, so they must share your interest in pleasing your clients.

I recommend: Fabulous Events provides linen products for special events nationwide. Concept Design Productions specializes in stage, set, exhibit, environmental and interior design nationally and internationally. They also offer production and project management and technical direction, among many other industry services.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Marketing your business is a very significant step in building your own event planning small business. Consider advertising in trade magazines and newspapers to begin with, and think about publishing a website.

If you’re a born organizer with a creative bent, a head for business and a way with people, you could have what it takes to build a successful event-planning company. Event planners are hired to plan and execute parties, weddings, meetings, conferences, events related to product promotions, parades and more. Among an event planner’s most challenging responsibilities:

1. Developing an event theme and plan that pleases the client.
2. Staying on schedule with every aspect of the event planning, set-up and execution.
3. Hiring the right vendors and coordinating their work.

Action Steps
The best contacts and resources to help you get it done

Learn the trade

Successful event planning involves a multitude of skills. Give yourself plenty of time to hone the skills that you haven’t mastered before you start a business.

I recommend: If you’re new to the field, consider getting a job with a local event-planning company or a related business such as a catering company. Daily Plan-it lists Web sites that post event-planning jobs. Contact companies in your area. Consult the SuperPages online yellow page directory or Event Solution’s Black Book, Event Industry Buyer’s Guide. You can also learn the ropes by volunteering to help organize events for local non-profit groups. Check Yahoo's directory of philanthropic organizations. Keep up with event-planning trends and get tips from seasoned pros by reading industry trade journals such as Special Events Magazine and Event Solutions Magazine.

Get certified

Professional certification shows prospective clients that you’re a serious, savvy event planner. Corporate clients in particular prefer to hire certified event planners.

I recommend: Earn the Certified Special Events Professional (CSEP) designation from The International Special Events Society. Win more corporate-meeting jobs with a Certification in Meeting Management (CMM) from Meeting Professionals International.

Let software give you a hand

“The devil is in the details” is more than a cliché in the event-planning business. Event- planning software can keep you from drowning in those details.

I recommend: Cast Software's Vivien Virtual Event is a 3-D diagramming program that lets you create detailed room layouts which you can review with your clients. If you’re organizing a conference, Ekeba’s Complete Membership & Event Manager is an economical program that can help you manage registration, accommodations, exhibitors and more. WingateWeb’s Event Console offers an end-to-end solution that includes event registration, credit card processing, staff and equipment scheduling and even (gulp) managing multiple, concurrent events.

Know where to locate event service vendors

Your clients will expect you to know where to find everything you need to produce the event of their dreams.

I recommend: The Special Events Buyers' Guide and Event Solution’s 2007 Black Book include suppliers for everything from access doors to travel services. For an even more eclectic group of vendors (face painters, anyone?) try the Corporate Event Channel.

Manage your business

Map out your business goals, get help with contracts and double check your liability insurance coverage.

I recommend: Develop a business plan with the help of Business Plan Pro It comes with a how-to kit for event planners that includes a sample business plan, an eBook on how to run an event-planning business and a small-business start-up guide.Join The Event-Planners Association and get liability insurance coverage for your business, as well as reduced fees for legal services like contract reviews and incorporation.

Network your way to new clients

The top event planners agree that networking is the best way to grow your client list. Get actively involved in business, social and philanthropic groups, and be visible at industry trade shows.

I recommend: Meet local businesspeople by joining your local Chamber of Commerce. Volunteer to organize a Chamber event or two, and offer to give a presentation on a topic related to event planning. Increase your chances of getting referrals from event vendors as well as fellow event planners by attending industry conferences such as The Special Event. Carry business cards with you wherever you go. You can order high-quality, low-cost business cards from Vista Print. At LogoWorks.com, professional designers will create a company logo for you in one week.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  As a self-employed event-planner, be prepared to work long hours, including evenings and weekends.
• •  Consider specializing in a particular type of event. That way you can become an expert in your niche and gain a reputation as the go-to planner for that event category.
• •  Create a portfolio of photos of your events so that potential clients can see what you’ve done. Include close-up shots of decorative touches such as centerpieces.