Starting an Event Planning Business

Follow the right steps to make starting an event planning business an exciting and successful venture

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?

 

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.
Try: 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.
Try: 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.
Try: 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.

 

• 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.

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