How to Start an Event Planning Business

Event Planning Business

What are the Steps to Starting an Event Planning Business?

If you’re someone who loves the art of putting on a good party there are a few steps you should consider as you dive into the world of event planning. First, do your research:

1. Where are There Competitive Gaps in the Event Planning Market?

2. What kind of Laws Exists in Your Area when it comes to Events?

With your research in mind, you’re going to want to decide the type of event market you want to enter - corporate or social. Is there an opportunity to specialize even further (ie: corporate retreats, bat mitzvahs, weddings, etc.) where no competitor in your area has?

Next, like any business, you will need to develop a business plan. It’s important in this step to identify your mission and vision as well as product offerings. Doing so will help you maintain focus on your goals and ambition for your business as it evolves over time. The next step will be to build or hire someone to design your marketing materials. This may include business cards, a website, a logo, flyers, and more. Distinctive brand materials will be crucial to network and get your name out there so you can get on with the fun part: party planning!

How much does it Cost to Start a Party Planning Business?

Startup costs depend on a few factors: the cost of living in the area your business operates, whether you work from home or rent an office space, and of course your own personal taste and style. It’s helpful to look at the costs of local vendors and companies you’d like to work with to gauge how much it will cost to put on your ideal event.

What are the 5 C's of Event Management?

Any event planner is familiar with the fundamentals of event planning otherwise known as the “5 C’s.” These act as guidelines to ensure you’re staying on track with each and every crucial party detail.

1. Concept: In this phase, you identify your event objective and lay the groundwork to answer the following questions: WHO is the event for? WHAT is the event about? WHERE does it take place? WHEN does it take place? WHY does the event exist? Keep in mind that these are important details your event-goers should be informed on as well.

2. Coordination: This entails physical planning. Creating the budget, booking vendors, hiring staff, decorating the venue, arranging entertainment, and planning transportation logistics are all completed in this phase.

3. Control: This is where you gauge how close the event is to your plans and take control of situations that may arise to keep it on track. For instance, if you have a vendor cancel, you will identify a plan b vendor to fill their spot.

4. Culmination: The big day, this is when you deliver on your plans. Communicating with vendors, monitoring security, and managing staff: be prepared to work under pressure and adapt to challenges that may arise.

5. Closeout: The last phase, when you wrap up the event. From tidying up post-event to closing/terminating contracts with vendors in the following days, this is your opportunity to gain feedback and reflect on your event identifying future areas of improvement.

What are the Key Elements of any Event?

No matter the type, there’s a few elements that each event shares:

1. Event Goal: The reason or purpose behind hosting an event.

2. Event Title: The name of the event.

3. Theme: The central idea or look and feel that ties the event together.

4. Venue: The space(s) where the event is held.

5. Guests: The people who attend the event and inspire key planning decisions.

6. Activity/Entertainment: What guests physically do while attending the event.

What are the Qualities of an Event Manager?

Event planning can be chaotic at times. With a number of moving parts, it takes someone who is organized and detail-oriented to keep track of everything to make sure an event runs smoothly. In addition, conflict-resolution skills and resourcefulness are critical to alleviating problems that are bound to arise along the planning process.

How can Oz App help you Manage Event Planning?

Even the best of planners need a sidekick for planning an event. Oz App is the best sidekick ever for an event planner as you will be able to share files among your teammates, schedule and assign tasks, keep your lists organized, keep track of your budgets, and many more features that can assist you in your work. Zoom in to the last detail so that you can easily manage each and every aspect of an event booking. On top of that, Oz App is not just an event management software but an All-in-one entertainment management system including Band Booking Software, Catering Management Software, and Wedding Venue Management Software. If event planning is the path you have chosen, then Oz App is the tool you should choose for your success. Learn more about the Oz App here to ensure success as you dive into event planning.