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How to Start an Event Planning Business - A Quick Guide

Author: Priyanka Pawar
by Priyanka Pawar
Posted: Jun 21, 2019

Wish to start an event planning business, and but don’t really know from where to start? Remember, when it comes to event planning, or for that matter any business in the world, you don’t really get up one fine morning, and hit the road! It takes some years of experience, and most importantly the experience of having handled a few events in the past, along with a trustworthy network of associates, so that you’d at least have a sound and healthy beginning, if not necessarily a mind-blowing one. This article is a quick guide for all those who’ve been looking forward to starting an event planning business but stuck with some or the other thing. So, here’s more to some quick tips on starting an event planning business.

8 Tips to Start an Event Planning Business

1. Build a Strong Foundation: It all starts with education. To start your career as an events planner, it is important to have pursued event management courses. Now, why event management courses? Of course, talent is one thing, but then pursuing some kind of formal education gears you up for the challenges ahead, and moreover, certifies you as an event management professional. Yes, certificates do matter, and hence, you must earn them!

2. Work with an Event Management Company: Working with an event management company would help you earn the necessary experience, and gain the required expertise to become an events planner. Besides, it would also help you build a network of associates and contacts to ensure that you start off with some good projects at hand. And yes, this is the time when you’d figure your interests and niche in the event management business as well.

3. Set the Ball Rolling with a Strong Business Plan: An abrupt, unplanned and directionless beginning could ruin the entire show, and the failures resulting out it could unnecessarily disappoint you. To avoid this, ensure that you invest some time and thought to prepare a visionary, and workable business plan. This would help you establish the short-term, as well as long-term plans, and then let you focus on achieving them.

4. Search for Investors: If you plan to work as a freelancer, you might not need an investor for your business. However, if you’d wish to start the business on a relatively larger scale, you might need investors, or else, invest your own funds prudently.

5. Choose the Right Business Incorporation: This is more of a technical aspect, but then an important one. If you are starting off as a loner, you might want to incorporate a proprietorship firm, work as a freelancer. Or begin the firm as Limited Liability Partnership (LLP), if you’ve got a partner/ partners joining you in your venture. Of course, ensure that you don’t really choose the incorporation all by yourself. Seek consultation through experts to understand the positive as well as negative sides of every incorporation type, and then make an informed decision.

6. Define your Event Planning Services: Now that you’ve got the company incorporation element in place, you can now proceed to define your event planning services, your forte, and also start identifying your customer segment, so that you can align your efforts accordingly. Ensure that you also determine the range of your services. Meaning, would you only offer a particular part of an event, or offer end-to-end services.

7. Decide on the Fee Structure: It is necessary to decide on the fee structure, whether you’d charge a lump sum the amount for the entire event, charge a flat fees, charge a percentage of the overall expenses, or charge a combination of the percentage of the expenses along with an hourly rate, or charge a commissionable rate.

8. Invest in Digital Marketing: Of course, conventional efforts, references, and your contacts would certainly bring in business for you, but it is equally important to keep up with the latest trends and invest some efforts, time, and money in marketing your business through various digital platforms. It starts with a website, working towards its search engine rankings, promoting it on various social media platforms, etc. Nevertheless, take a rational call. Scaling up digital marketing efforts would incur money. Do it if you’ve got enough funds to operate.

TTA, one of the leading institutes for event management courses in Pune, offers the most comprehensive event management courses. At TTA, the mentors, trainers, and industry experts ensure that you turn into an industry-oriented events management professional. Besides, TTA offers internships, and 100% placement assistance with the best event management companies, to help you earn the required industry experience. For more information on TTA’s event management course in Pune, get in touch at +91 772 0094 514.

About the Author

Mr. Amit Agrawal with his 12 years of experience in the education field did an extensive research and formulated the best vocational courses https://www.ttaindia.com/our_team/amit-agrawal/

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Author: Priyanka Pawar

Priyanka Pawar

Member since: Jan 01, 2019
Published articles: 7

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