Saturday, November 26

Start your own event planning business

Business planning services are a $ 500 billion business throughout the world today, with many growth opportunities. Profit margins rose from 15% to 30 to 40%. People hire event planners because they don’t have time and expertise to set up the event itself. Some events for which event planners employed are:

Celebration (exhibition, parade, wedding, reunion, birthday, warning)
Education (conference, meeting, graduate)
Promotion (product launch, political demonstration, fashion exhibition)
Warning (Warning, Civic Event)
Qualifications: The best way to regulate business planning services is to start as an internship with event management company. This gives you a useful industrial exposure, and you learn trade tricks without investing anything. You can also obtain knowledge about the industry by obtaining event planning or level of management or certificate from local universities and also become CSEP (Certified Special Events Professional) or CMP (Certified Meeting Planner).
Target market: target market for business planning services is very large. The company and the a charity and non-profit organizations hosted Gala fundraising, athletic acceptance and competition, among other events, to expand their public support base and raise funds. The company also regulates trade shows, conventions, picnics companies, holiday parties and meetings for staff members, board members or shareholders. Apart from this there is a large social market. This includes organizing weddings, birthdays, birthday parties, 16 sweet parties, kids parties, reunions and so on.

Start-up Fee: Start Up Cost Business Event Planning Services depends on your business profile. Low-end event management business can be started with $ 8,000 while high-end may cost $ 30,000 to $ 50,000. The main expenses are on three heads: equipment, number of employees and office space.

Tasks and Operations: Social events generally involve more weekends and holidays than the company’s events. Some events have a season “on” and “off”. The main task of the individual who runs the event planning service business is:

Research: Find out everything about vendors and suppliers, talk to other planners who have produced similar events, reading about customary problems and etiquette. Ask a lot of questions to your clients and write the answer.

Design: You need to sketch the whole “display” event. To get a good idea, you must have a brainstorming session, either yourself or with your employees. Consult your notebook for client answers to the questions you submit in the research stage. This response will help you check every idea for feasibility before suggesting it to the client.

Proposal: Proposal production can take time and expensive, especially if you enter photos or sketches. You must receive consultation fees, which can be applied towards client events if he employs you.

Organization: During this phase, you will rent a site, hire vendors and take care of more details. Be sure to discuss all the main decisions with your clients or someone who acts on behalf of the client, but avoid consulting many people.
Coordination: Make sure everyone is at the same wavelength, that all vendors have a general idea of ​​the overall event schedule, what is expected of them, and when. Make sure all your staff members know their role.

Evaluation: Ensure your customer satisfaction so that your clients will give your ad-to-mouth ads for your mouth. You can also hire event planning consultants to evaluate your work.

Income: There is no fixed fee in the event planning service business. Costs vary from events to events, and are proportional to the volume and quality of work involved. In general, you can expect 15 to 20 percent at every event. Given the size of the industry, the part-time event planner can disgust around $ 20,000