business plan for an event planning company

Event Planning Company Business Plan

Written by Dave Lavinsky

Event Planning Business Plan

You’ve come to the right place to create your event planning business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their event planning companies

Below is an event planning business plan sample to help you create each section of your Event Planning business plan.

Executive Summary

Business overview.

Special Occasions Event Planning is a startup event planning business located in Des Moines, Iowa. The Company is founded by Jennifer Brown, an experienced event planner who has been planning themed weddings and birthday parties as the manager of a local event venue for the past ten years. Now that Jennifer has gained valuable experience managing an event venue and planning special events of various sizes and styles, she is ready to start her own event planning company, Special Occasions Event Planning. Jennifer is confident that her event planning skills, combined with her understanding of business management, will enable her to run a profitable event planning company of her own. Jennifer is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running an event planning business – sales and marketing, supply sourcing and procurement, customer relationship management, budgeting, financial reporting, and vendor relationship management. 

Special Occasions Event Planning will provide customized event planning services for special occasions big and small. Special Occasions will specialize in themed birthday parties, but will provide planning services for other types of events such as weddings, parties, and corporate gatherings upon request. The Company will be the ultimate choice for unique and memorable themed birthday parties for clients of all ages. 

Product Offering

The following are the event planning products and services that Special Occasions Event Planning will provide:

• Venue Sourcing 
• Tables & Chairs
• Dinnerware & Utensils
• Caterer Coordination
• Entertainment
• Party Favors
• Photography/Videography
• Lighting/Sound
• Bartending/Liquor 
• Set-up/Clean up

Customer Focus

Special Occasions Event Planning will target individuals, families, and social groups in Des Moines, Iowa. The Company will target people looking to plan a one-of-a-kind birthday party for their child, significant other, friend, or other relative. No matter the customer, Special Occasions Event Planning will deliver the best communication, service, and attention to detail. 

Management Team

Special Occasions Event Planning will be owned and operated by Jennifer Brown. Jennifer is a graduate of Iowa University with a degree in Business Management. She has over ten years of experience working as an event planner for another local venue. Jennifer will be the Company’s Chief Executive Officer and the Head Event Planner. She will lead the more complex events and oversee the event planning staff. 

Jennifer has recruited an experienced administrative assistant, Patricia Smith, to help manage the day-to-day business operations. Patricia has been an administrative assistant in the event planning industry for more than 15 years. Jennifer relies on Patricia’s organization, attention to detail, and punctuality when organizing her schedule, managing clients, and maintaining her files. 

Jennifer and Patricia have recruited an experienced marketing director, John Jones, to become a member of the Special Occasions Event Planning management team. John is a graduate of the University of Iowa with a Bachelor’s degree in Marketing. Jennifer and Patricia rely on John’s expertise to execute the Company’s marketing plan and advertising strategies.  

Success Factors

Special Occasions Event Planning will be able to achieve success by offering the following competitive advantages:

• Skilled team of event planners who will ensure every client receives exceptional customer service and that all reasonable requests are met. 
• Special Occasions Event Planning’s leadership team has established relationships with local venues, vendors, and entertainers, thus providing customers with a wide selection of options to choose from when planning their special event. 
• The Company specializes in the themed birthday party niche and is well-versed in the latest trends in the industry. 

Financial Highlights

Special Occasions Event Planning is seeking $200,000 in debt financing to launch its event planning business. The funding will be dedicated towards securing an office space and purchasing equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff and marketing expenses. The breakout of the funding is below:

• Office lease and renovation: $80,000
• Office equipment, supplies, and materials: $20,000
• Three months of overhead expenses (payroll, utilities): $90,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph below outlines the pro forma financial projections for Special Occasions Event Planning.

Company Overview

Who is special occasions event planning .

Special Occasions Event Planning is a newly established event planning company based in Des Moines, Iowa. Special Occasions will be the first choice for unique themed birthday parties for people of all ages in Des Moines and the surrounding communities. The company will provide customized event planning services for parties large and small. 

Special Occasions Event Planning will be able to provide all the essentials for any special event from highly rated caterers to the hottest entertainment due to the Company’s existing relationships with industry professionals and vendors. The Company’s team of highly qualified event planning professionals will manage the entire planning process from ideation to execution. Special Occasions even provides clean-up services. Clients can opt for full-service event planning services or purchase specific aspects (such as decor or catering) a la carte. 

Special Occasions Event Planning History

Special Occasions Event Planning is owned and operated by Jennifer Brown, an experienced event planner who has been planning themed weddings and birthday parties as the manager of a local event venue for the past ten years. Now that Jennifer has experienced managing an event venue and planning special events of various sizes and styles, she is ready to start her own event planning company. Jennifer is confident that her event planning skills, combined with her understanding of business management, will enable her to run a profitable event planning company of her own. Jennifer is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running an event planning business – sales and marketing, supply sourcing and procurement, customer relationship management, budgeting, financial reporting, and vendor relationship management. 

Since incorporation, Special Occasions Event Planning has achieved the following milestones:

• Registered Special Occasions Event Planning, LLC to transact business in the state of Iowa. 
• Has signed a contract to lease the office space. 
• Reached out to numerous contacts to include local venues, catering companies, entertainers, and decor suppliers to spread the word about her new business opportunities. 
• Began recruiting a staff of accountants, event planners, sales and marketing associates, and office staff to work at Special Occasions Event Planning Services.

Special Occasions Event Planning Services

Industry analysis.

The Party and Event Planning industry in the United States is valued at approximately $4B, with 70,000 businesses in operation, and over 82,000 employees. The market for event planning services is expected to grow over the next several years due to an aging baby boomer population, many of whom have children and grandchildren who will have weddings, birthday parties, graduations, anniversaries, and other special events in the coming years. Additionally, the corporate event planning segment is expected to grow due to more companies pursuing team building opportunities and hosting events that can serve as marketing for the business. 

The event planning market is split into two broad segments: corporate and social. Corporate events such as holiday parties, meetings, trade shows, conventions, fundraisers, and receptions are just some of the events included in this segment. Corporate customers include companies, non-profit organizations, and charities. The social segment includes a wide range of special occasions such as weddings, bridal showers, birthday parties, anniversary parties, reunions, and more. The largest and most lucrative category in the social event planning segment is wedding planning. 

Industry operators can specialize in one or two niches such as wedding planners or corporate planners. Alternatively, industry operators can provide planning services for a wide range of events. Industry operators that specialize in a specific niche and even narrow their niche to a specific type of event, such as “kids’ parties” or “fashion shows” may have more success because they can become an expert in one area and target a highly specific customer segment. Industry operators who provide a broad range of services to a variety of customers can be successful if they provide high levels of organization, customer service, and unique or highly customized services. 

Customer Analysis

Demographic profile of target market.

Special Occasions Event Planning will target individuals, families, and social groups in Des Moines, Iowa. The Company will target people looking to plan a one-of-a-kind birthday party for their child, significant other, friend, or other relative. Special Occasions Event Planning will also target young adults looking to plan a memorable, themed 21st birthday party. No matter the customer, Special Occasions Event Planning will deliver the best communication, service, and attention to detail. 

The precise demographics for Des Moines, Iowa are:

Customer Segmentation

Special Occasions will primarily target the following customer profiles:

• Millennials
• Individuals with disposable income
• Families with children and disposable income

Competitive Analysis

Direct and indirect competitors.

Special Occasions Event Planning will face competition from other companies with similar business profiles. A description of each competitor company is below.

Emily’s Event Planning

Established in 2017, Emily’s Event Planning is now a well-known event planner in the Des Moines, Iowa area. The company provides event planning services for large corporate events, weddings, and birthday parties. Emily’s Event Planning is most well-known for its picturesque venue choices. The company has relationships with some of the most in-demand venues in the area. Emily’s Event Planning provides an all-inclusive event planning and management service with packages that include venue rental, decor, entertainment, food, and clean-up services. 

While Emily’s Event Planning has an established reputation in the market for quality event planning services, it has a list of predefined event packages and does not customize its services or take unique requests from customers. 

Fancy Event Planner

Fancy Event Planner has been operating in the state of Iowa since 1982. This company is a small business run by a husband and wife team that specializes in event planning and catering services for weddings, birthday parties, and other special occasions. Fancy Event Planner provides decor, venue coordination, and food service for events of up to 100 guests. The company specializes in providing gourmet dinners, desserts, and appetizers. Additionally, Fancy Event Planner provides hand crafted decor and floral arrangements for weddings and parties. Fancy Event Planner is for customers looking for an elegant presentation in a traditional setting. 

Fancy Event Planner has a limited selection of services and does not offer entertainment, set-up/clean-up, lighting/sound, or liquor accommodations. 

Wonderfully Perfect Event Planning Services

Wonderfully Perfect Event Planning Services is a new Des Moines, Iowa-based event planner that provides superior service to its customers. The company is managed by an experienced entrepreneur who has been working in the hospitality industry for over 20 years. She opened Wonderfully Perfect Event Planning Services in 2019 when she discovered a lack of options for themed party planning in the area. The company provides customized planning services for any event and will strive to ensure all customer requests are met to ensure a perfect event experience every time. 

The company does not have established relationships with vendors, venues, or entertainment in the area and as such, trails behind Special Occasions Event Planning in this area. 

Competitive Advantage

Special Occasions Event Planning will be able to offer the following advantages over the competition:

• Skilled team of experienced event planners who are able to provide customized planning services and fulfill any reasonable request. 
• Special Occasions Event Planning’s management team has long-standing relationships with industry professionals and is able to provide customers with a wide selection of options when it comes to venues, entertainment, and catering.  
• The Company specializes in themed birthday parties and keeps up on the latest trends in the industry. 

Marketing Plan

Brand & value proposition.

Special Occasions Event Planning will offer the unique value proposition to its clientele:

• Special Occasions Event Planning provides full-services event planning from ideation to execution. 
• The Company’s wide selection of options allows each customer to create their dream event.  

Promotions Strategy 

The promotions strategy for Special Occasions Event Planning is as follows:

Social Media Marketing

The Company’s marketing director will create accounts on social media platforms such as LinkedIn, Twitter, Instagram, Facebook, TikTok, and YouTube. He will ensure Special Occasions maintains an active social media presence with regular daily updates and fun content to get customers excited about using the Company’s event planning services. 

Professional Associations and Networking

Special Occasions Event Planning will become a member of professional associations such as the Event Planners’ Association, American Party Planning Society, and the Iowa Special Event Association. The leadership team will focus their networking efforts on expanding the Company’s vendor and client network. 

Print Advertising

Special Occasions Event Planning will invest in professionally designed print ads to display in programs or flyers at industry networking events. The Company will also send direct mailers to local businesses with employees who are in the target market. 

Website/SEO Marketing

Special Occasions Event Planning will utilize its in-house marketing director that designed the print ads to also design the Company’s website. The website will be well organized, informative, and list all the services that Special Occasions is able to provide. The website will also list information on the Company’s events and promotions. 

The marketing director will also manage the Company’s website presence with SEO marketing tactics so that when someone types in a search engine “Des Moines Event Planner” or “Event Planner near me”, Special Occasions Event Planning will be listed at the top of the search results.

The pricing of Special Occasions Event Planning will be premium due to the high level of customization and hands-on planning services involved. Customers will feel they receive great value when purchasing the Company’s services.  

Operations Plan

The following will be the operations plan for Special Occasions Event Planning.

Operation Functions:

• Jennifer Brown will be the CEO and Head Event Planner. She will lead the more complex events and oversee the event planning staff. Jennifer has spent the past year recruiting the following staff:
• Patricia Smith – Administrative Assistant who will manage the budgeting, vendor relationships, and logistics.
• Sam Johnson – Accountant/Bookkeeper who will provide all accounting, tax payments, and monthly financial reporting.
• John Jones – Marketing Director who will oversee all marketing strategies for the Company and manage the website, social media, and outreach. 
• Michelle Garcia – Customer Success Officer who will oversee customer relationships. 

Milestones:

Special Occasions Event Planning will have the following milestones complete in the next six months.

11/1/2022 – Finalize contract to lease the office space. 

11/15/2022 – Finalize employment contracts for the Special Occasions Event Planning management team.

12/1/2022 – Begin renovations on the office and purchase office equipment and supplies. 

12/15/2022 – Begin networking at industry events and implement the marketing plan. 

1/15/2023 – Begin recruiting and training office staff and event planners. 

2/15/2023 – Special Occasions Event Planning officially opens for business. 

Financial Plan

Key revenue & costs.

The revenue drivers for Special Occasions Event Planning are the fees charged to customers in exchange for the Company’s event planning services. Customers will be able to purchase full-service, customizable packages or select specific aspects (such as entertainment or catering) a la carte. 

The cost drivers will be the overhead costs required in order to staff an event planning business. The expenses will be the payroll cost, utilities, party supplies, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Average number of events per month: 4 
• Average fees per month: $20,000
• Overhead costs per year: $360,000

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Event Planning Company Business Plan FAQs

What is an event planning company business plan.

An e vent planning company business plan is a plan to start and/or grow your event planning company business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your event planning company business plan using our Event Planning Company Business Plan Template here .

What are the Main Types of Event Planning Companies?

There are a number of different kinds of event planning companies , some examples include: Corporate Events, Social Events, and Niche Events Planning.

How Do You Get Funding for Your Event Planning Company Business Plan?

Event planning companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. This is true for an event business plan or an event management business plan.

What are the Steps To Start an Event Planning Business?

Starting an event planning business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An Event Planning Company Business Plan - The first step in starting a business is to create a detailed event planning company business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your event planning business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your event planning business is in compliance with local laws.

3. Register Your Event Planning Business - Once you have chosen a legal structure, the next step is to register your event planning business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your event planning business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Event Planning Company Equipment & Supplies - In order to start your event planning business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your event planning business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful event planning business:

• How to Start an Event Planning Business

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Event Planning Business Plan Template

Written by Dave Lavinsky

Event Planning Business Plan

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their event planning businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an event planning business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Event Planning Business Plan?

A business plan provides a snapshot of your own event planning business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes research to support your plans.

Why You Need a Business Plan for Your Event Planning Company

If you’re looking to start an event planner business or grow your existing one you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your event planning business to improve your chances of success. Your event planning business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Event Planning Businesses

With regards to funding, the main sources of secure funding for an event planning business are bank loans, personal funding, credit cards, and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Another common form of secure funding for an event planning business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan. Venture capitalists will not fund an event planning business.

Finish Your Business Plan Today!

How to write a business plan for event planning.

When you write a business plan, you should include the following 10 key aspects:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each important component of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the event planning business industry. Discuss the type of business you are operating. Detail your direct competitors. Give an overview of your target audience. Provide a snapshot of your marketing strategy and plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of business you are operating.

For example, you might operate one of the following types:

• Corporate Events : this type of event planning business caters to businesses, charities, nonprofit organizations, and the like to plan fundraisers, receptions, conventions, trade shows, competitions, award ceremonies, product launches, and other types of meetings.
• Social Events : this type of event planning business targets middle- to upper-income individuals and families to plan events such as weddings, birthdays, reunions, and other types of celebrations.
• Niche Events : some event planners specialize in just one of the above event types.

In addition to explaining the type of event planning business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new contracts, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your business structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the event planning business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the industry educates you. It helps you understand the target market in which you are operating. 

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards events that adhere to social distancing guidelines, it would be helpful to ensure your plan details what approach you would take (suggested venues, creative solutions for inclusion, etc.).

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

• How big is the event planning industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the clientele you serve and/or expect to serve.

The following are examples of customer segments: private and corporate clients, high-income households, medium-income households, engaged couples, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of event planning company you operate and the event services you offer. Clearly, businesses would want a different atmosphere, pricing, and product options, and would respond to different marketing promotions than engaged couples.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the age groups, genders, locations, and income levels of the customers you seek to serve. Because most event planning companies primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target market. The more you can understand and define these needs, the better you will do to attract customers and retain your existing customers.

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other planners and businesses that offer event planning services.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes caterers, venues, and customers planning events on their own. You need to mention such competition to show you understand that not everyone who throws a party hires an event planner each time.

With regards to direct competition, you want to detail the other businesses with which you compete. Most likely, your direct competitors will be other businesses that offer event planning services very close to your site.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What planning services do they offer (wedding planning, baby showers, birthday parties, social events, etc.)?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. 

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior event management options (e.g., more cuisine types, better venue options, etc.)?
• Will you provide event options that your competitors don’t offer?
• Will you make it easier or faster for customers to book your services (e.g., utilizing event planning software, etc.)?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an event management business plan, your marketing strategy should include the following:

In the product section, you should reiterate the type of business that you documented in your Company Analysis. Then, detail the specific products/services you will be offering. For example, in addition to designing the event, locating the venue, arranging vendors, coordinating personnel, and supervising the event, will you offer services such as catering, decor, and entertainment?

In this section, document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections, you are presenting the services you offer and their prices.

Place refers to the location of your event management business, conference centers, and/or venues in which you own and/or have a relationship. Document your location and mention how the location will impact your success.

The final part of your event planning business marketing plan is the promotions section. Here you will document how you will drive customers to your site. The following are some promotional methods you might consider:

• Social media marketing
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites 
• Partnerships with local organizations (e.g., getting on the list of recommended vendors with local venues)
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your event planner business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your event planning business such as interviewing clients, making arrangements, keeping the store/studio clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th customer, or when you hope to reach $X in total sales. It could also be when you expect to hire your Xth employee or launch in a new market.

Management Team

To demonstrate your own event planning business’ ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally, you and/or your team members have direct experience as event planners or in the industry. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in event planning and/or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you plan one event per week or several events? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 event contract, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During those 180 days, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key startup costs needed in starting or growing your business:

• Location build-out including design fees, construction, etc.
• The total cost of equipment and furnishings like decor, sound systems, etc.
• Cost of maintaining an adequate amount of supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

  Event Planning Summary Putting together your own event planner business plan is a worthwhile endeavor. If you follow the event planning sample template above, by the time you are done, you will truly be an expert. You will really understand the business, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful event planning business.

Event Planning Business Plan FAQs

What is the easiest way to complete my event planning business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Event Planning Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of event planning businesses.

  OR, Let Us Develop Your Plan For You Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how Growthink’s business plan consulting services can create your business plan for you.   Other Helpful Business Plan Articles & Templates

How To Write a Successful Event Planning Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for event planning businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every event planning business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is an Event Planning Business Plan?

An event planning business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write an Event Planning Business Plan?

An event planning business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Event Planning Business Plan

The following are the key components of a successful event planning business plan:

Executive Summary

The executive summary of an event planning business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your event planning company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your event planning business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your event planning firm, mention this.

You will also include information about your chosen event planning business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of an event planning business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the event planning industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the customers of an event planning business may include:

• Wedding planners needing help with transportation logistics
• Conference organizers wanting assistance with on-site registration
• Caterers in need of assistance to manage the timing of service delivery

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or event planning services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your event planning business may have:

• You are the only event planner in your city with an events app that allows customers to book and manage their event logistics in one place.
• You have a team of experienced event planners who specialize in military funerals, which is a niche market.
• Your company is the go-to choice for conference organizers looking for assistance with on-site registration and event management.

This is not an exhaustive list, but it gives you an idea of the types of competitive advantages you may have.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your event planning business via a combination of these channels.

Operations Plan

This part of your event planning business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for an event planning business include reaching $X in sales. Other examples include launching a new product/service, expanding to a new market, or hiring key personnel.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific event planning industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Event Planning Business

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Event Planning Business

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup event planning business.

Sample Cash Flow Statement for a Startup Event Planning Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your event planning company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is an essential tool for any event planning company. If you are seeking funding from investors or lenders, it’s important to have a polished and professional business plan. Use the outline above as a guide as you write your own event planning business plan.   

Finish Your Event Planning Business Plan in 1 Day!

Other helpful articles.

How To Write a Successful Party Planner Business Plan + Template

How To Write a Successful Wedding Planner Business Plan + Template

How To Develop a Financial Plan For An Event Planning Business

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How to Start an Event Planning Business: Your Comprehensive Guide Not sure how to become an event planner? Use this step-by-step guide to launch your event planning business from scratch.

By Laura Tiffany Edited by Brittany Robins May 21, 2024

Key Takeaways

• Event planning can be a great business if you have the right skills.
• People need help executing personal and professional events of all sizes.
• Based on how you structure your business, your startup costs will vary.

Opinions expressed by Entrepreneur contributors are their own.

Some people have a special ability to plan parties — whether they be weddings, large corporate events or smaller gatherings. If you have a knack for tackling complex problems and making big days run smoothly, you might have a future as a professional event planner. Whether you choose to work alone or with a team, starting an event planning service is no small task. Here are some important questions to consider before launching an event planning business, and a step-by-step guide to starting and scaling your business.

Related: Find Your Event-Planning Niche

What is an event planning business?

Event planning is the art and science of ideation, planning, coordination and operation. When a major event needs to run smoothly — whether it's a trade show, nonprofit gala or a major anniversary — people will enlist an event planning service or coordinator. Event planners are key service providers who ensure event production and execution goes off without a hitch , most often used for purposes like:

• Corporate events, like after-work cocktail hours and galas.
• Educational conventions, like graduations or conferences.
• Major promotional events including product launches and fashion shows.
• Celebrations and social events including parades, weddings, birthdays and reunions.

The primary duties of full-time or part-time on-site event planners include:

• Researching venues and vendors prior to the event.
• Selecting the appropriate site for the event.
• Event design and team-building for project management.
• Creating budgets and running fundraisers if necessary.
• Coordinating decor, entertainment and food for the event.
• Sending invitations to attendees.
• Coordinating transportation for attendees to and from the event.
• Arranging accommodations, including seating charts and place settings.
• Coordinating tasks for onsite event personnel, including caterers or entertainers.
• Being on call for any questions or problems that arise in the event-planning process.
• Supervising activities at the event site.

Why do people hire event planning services?

People primarily hire event planning services for two reasons: So that hosts and guests don't have to focus on the inner workings of the event, and so that the event runs smoothly from beginning to end.

Consider a wedding. Many engaged couples hire event planners or event planning services to coordinate, organize and carry out their wedding plans. This helps the couple enjoy their special day and gives them the freedom to focus on getting married rather than worrying about details like catering, parking or the timeline.

Some events are so complex — particularly those with hundreds of guests or more — that it's almost impossible to properly plan and organize them without the help of a specialist. Knowledgeable, experienced event planners know how to organize groups of people, how much food to provide and other details that can make or break an important event.

Related: The Price Is Right: Turning a Profit in the Event Planning Business

Who should become an event planner?

You might consider becoming an event planner if you're organized, love hosting parties and find the challenge of coordinating large events to be thrilling. Planners handle many moving parts at once, some of which require overseeing chaotic work and competing agendas. Event planners also often work weekends and holidays since these are the days when most people schedule events.

Many event planners have backgrounds as managers or coordinators in other industries. The events industry, both for wedding planning and other events, requires excellent communication skills. Obtaining a bachelor's degree in public relations , marketing or related fields can be helpful but is not required. You should also consider acquiring certification for your event planning service, as it can help you cultivate relevant professional skills and attract more job opportunities. Meeting Professionals International (MPI) offers a list of degrees and certificates from various colleges and universities.

You can also become a Certified Special Events Professional or Certified Meeting Planner , both of which are offered by the MPI or the International Live Events Association (ILEA). By earning these certifications , potential clients will know you have the training and experience necessary to take on a complex event.

How to start an event planning business

Step 1: form your company.

To get your event planning business off the ground, you must first form a company, file the right paperwork and create a business plan — which should include the following details:

• The business's name.
• The business's tax structure (Sole proprietorship, LLC, S corp etc.).
• What services you'll provide.
• Market research .
• A management plan.
• Financial factors, including how you'll turn a profit.

Related: Check out these business plan templates to get started.

You'll also want to apply for an employer identification number (EIN), which is essentially a social security number for your business assigned to you by the Internal Revenue Service (IRS). This will allow you to operate your business independently of your personal affairs, help you hire employees and make it easier to file taxes quarterly.

Step 2: Choose your target market

Building on the research you performed to create your business plan, it's essential to find the right market for your services. For instance, if you want to primarily work with weddings, you need to determine how many other planners are in your area, how much you should charge for your services and what offerings you'll need to be competitive.

By doing enough research ahead of time, you'll know exactly what kind of clients to target and what their expectations will be. This will help you advertise your event planning service to be competitive relative to other local planners.

Step 3: Make a financial plan

When you start an event planning business, you'll have to consider not only startup costs but also how the enterprise will grow and how many clients you'll need in order to be profitable. For instance, working from home and primarily by yourself will keep costs low. But if you hire employees, rent office space, or expand to new markets, your monthly expenses will significantly increase – all of these things can add up.

You can always scale your business after acquiring steady work. You may start off as a one-person event planning service that only takes on small events. As you earn money from successful jobs, you can hire employees and rent a warehouse for your equipment, like cameras, chairs and more. You don't have to have all of the growth questions answered when you launch your business, but you should at least have them in mind.

Step 4: Understand the work involved and consider hiring employees

For your event planning service to be successful , you need to fully grasp the nature of each job and determine if — or when — it's time to hire employees. This will vary event to event, so you'll need to determine how much work each event will require. Even the smallest event demands careful attention to detail and advance planning, but as you acquire experience you'll become more adept at forecasting how much help you'll need, if any. For instance, you might hire two or three people to be on-site for a specific event, just to make sure things run smoothly.

Related: The Event Planning Recipe for Success

Step 5: Settle on a price structure and fee basis

How you price your event planning offerings will impact how much business you attract. You can determine your pricing structure and fee basis by things like:

• The market segment you serve: For instance, nonprofit events may have different fee structures than weddings or corporate events. By understanding your event type, you'll know how much to charge and how to structure your fees.
• Your location: If you live in a place with a higher cost of living or a competitive events market, you'll need to price your services accordingly.
• Your reputation: As your business gains a reputation for success — and especially if you're so busy clients are competing for your services — you'll be able to charge a higher premium.

Step 6: Start marketing your event planning service

Once you know how much to charge your clients, it's time to start marketing your event planning service. Consider using tools like Google ads, social media profiles and other digital marketing efforts like email to get the word out about your business. You may even consider newspaper ads, flyers in public buildings or other traditional low-cost marketing tactics . As your business grows, so too will your reputation, meaning you'll likely have to spend less on marketing once you're known. Before you get there, though, it's important to dedicate significant time and resources to marketing your services (learn more here about the tools and strategies that should be part of creating your marketing plan).

Related: 8 Savvy Ways to Promote Your Event Planning Business

Costs of starting an event planning business

The costs of launching your business will vary greatly based on where you live, what kind of clients you work with and how large you intend to scale your operation. At a minimum, you'll need to pay fees to incorporate your business , purchase basic technology like a computer, buy business insurance and spend money advertising. But there are many other potential costs, including certification programs, hiring additional employees , renting office space and more. Here's a breakdown of common expenses associated with event planning, as well as a range of what it might take to get your enterprise off the ground.

Consider Startup Costs

As with any business, the startup costs for event planning vary by the region, the size of your operation and the type of clients you attract. Below are estimates that will help you determine what you can expect to spend in your first year.

*All figures are estimates and subject to change based on factors including location, business size and clientele.

Check out Entrepreneur's other guides and resources today.

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How to Start an Event Planning Business in (2024): Step-by-Step Guide

Free How to Write an Event Planning Business Plan + Free Template Template

The joy of making special days and big events even more special for the attendees seems exciting right? This is what event planners exactly do.

Whether it’s birthday celebrations, weddings, anniversaries, or corporate galas, the demand for expert event planners is soaring.

Starting an event planning business can be a great move because initially it needs a small investment, and you can make good money out of it.

It is a profitable venture but if are you confused about how to start an event planning business , then let us understand it through this guide.

Get to know the basics of event planning

Before you start getting into the process of starting an event planning business, you should know the basics of event planning, like what would be your responsibilities, what kind of events are there, etc.

So let’s get started:

Event Planning is most often used for purposes like

• Social Events: Weddings, birthdays, anniversaries, reunions, etc
• Corporate Events: Seminars, workshops,  conferences, product launches, award ceremonies, gala dinners, etc.
• Cultural and Art Events: Art cultural celebrations, exhibitions, music festivals, etc

Key responsibilities of an Event Planner include

• First of all, consult with your client properly before the event to understand their needs, objectives, and preferences.
• You need to build a team as per the event type, whether it is a corporate or social event.
• Prepare a budget to ensure that the event’s overall costs stay within the financial constraints of the customer.
• Choose a venue that aligns with the event’s size, and theme.
• Oversee the various vendors including florists, caterers, and photographers ensuring that they are all synchronized with the timeline.

After having a glimpse of the basics of event planning business, let’s see what is required next to start your business journey.

Quick Steps to Start an Event Planning Business

• Conduct Industry and Market Research
• Identify Your Event Planning Niche
• Prepare an Event Planning Business Plan
• Consider Startup and Operations Costs
• Paperwork and Legal Registration
• Figure Out Pricing Strategy
• Get Licenses, Permits, and Insurance
• Build a Core Team
• Marketing to Spread the Word

1. Conduct Industry and Market Research

All businesses have competition – that’s what keeps the market in balance.So it is necessary to conduct thorough research of the market to identify your competitors and the current trends.

Moreover, it also helps you understand your target customers, identify market needs, develop marketing strategies, and maintain a competitive edge.

At the primary stage of your research, you may conduct surveys to learn more about your potential clients and their problems.

Now gather information for the secondary research from online resources and industry reports. Compiling and analyzing this data with your primary research will help you highlight the areas that need attention.

Besides identifying your target market, market research is instrumental in strategic planning for the future of your business. It also helps you discover effective growth strategies by setting the targets for your business and making you aware of your competitors.

2. Identify Your Event Planning Niche

Are you aware that knowing a “niche” is a must in the Event Planning Company? A niche is a segment of the market that an event planner focuses on serving.

Identifying your niche involves determining a specific area or target audience within the broader event industry where you can focus and distinguish your services. This allows you to delve into a specific client base and build a reputation for expertise in that particular niche.

Let’s have a look at a few of the common niches and event types:

Social Events

• Wedding planning
• Baby Showers
• Anniversaries
• Bachelor/Bachelorette Parties
• Birthday Parties

Corporate Events

• Award ceremonies
• Conferences
• Corporate Meetings
• Grand Openings
• Product or Service Launch Party

So you can develop various strategies for your venture after deciding upon any of the following above-mentioned niches as per the demand in the events industry.

3. Prepare an Event Planning Business Plan

Once you know your niche, it’s time to put together your business plan, which is an essential step of any business. A well-structured event planning business plan will help you build a roadmap for your business, by setting out where you want your business to go and how you intend to go there.

This business document will include details about your business, its history, service offerings, management, financial health, and more.

A business plan becomes particularly crucial when one seeks financial support from banks or other institutions. It provides a transparent overview of your plans to attain financial and operational objectives, offering reassurance to funders about the feasibility of loan repayment.

Although, many consider it just a way to peak investors’ interest, a solid business plan can change the entire course of your small business.

Besides these, it also provides a structure for your company’s daily operations, helps you understand the market trend, provides an exit strategy, and also helps to attract key employees.

Not very good at writing? Need help with your plan?

Write your business plan 10X faster with Upmetrics AI

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4. Consider Startup and Operations Costs

The next foremost step is determining your financing requirements. You must have an in-depth understanding of your startup and operational costs.

You can estimate your startup costs by listing down the essential startup supplies, insurance costs, licensing requirements, office space, and associated expenses.

The operational costs include venue costs, decoration costs, employee salary, marketing, advertising costs, etc.

5. Paperwork and Legal Registration

Setting up the paperwork and legal registration for your event planning company is an important step to ensure that you are committed to legal norms.

First things first – before you start your event planning business finalize the legal structure and do business as (DBA) name of your business.

Brainstorm different names and pick something that reflects your business idea.

You can also opt for the DBA (Doing Business As) name. It allows the business to operate under another name other than the formal business name.

Register your Business Name

Once you have a name decided, it’s time to register your business entity with the state and local government. This will ensure that your business name is yours and you can do the business using that name.

Register your Business Structure

A business structure describes how a company is legally organized. This is an essential part.

You can choose from different business structures like operating as a sole proprietor (if you’ll be running the company on your own), a partnership, as well as other entities that provide limited liability (which ensures you won’t be held responsible for the company’s debts or other actions).

Get an EIN: Federal Tax ID Number

The process for this can vary, so you can reach out to the office of your state’s Secretary for specific guidance. Moreover, obtaining an Employer Identification Number (EIN) from the IRS Internal Revenue System is essential.

Once you have your EIN, you can open a business bank account, apply for a loan, and separate your personal and business finances.

6. Figure Out Pricing Strategy

The pricing structure depends on the market segment you serve, your potential customers, geographic location, expertise, and most importantly your competitor will help you decide your fees.

How you price your event planning services will impact how often you get requests.

You can determine your pricing structure as follows:

Hourly Rate: Initially, some event planners might charge around $25 per hour, while experienced planners can command rates exceeding $100 per hour. Corporate events tend to bring in rates about 30% higher than social events.

Flat Fee: This is a common approach where you charge a fixed price for your event planning services, often including a percentage of the total fees from vendors.

Percentage of Total Event Budget: Some planners prefer charging a percentage of the overall event budget, which could range from 15% to 20%.

Vendor Commission : A few planners choose to decrease their charges or may charge nothing for their services instead they prefer to make their income solely from commissions received from vendors they work with.

7. Get Licenses, Permits, and Insurance

Licensing and legal requirements are important in starting and running your own event planning business.

Common licenses you need to run this business are:

• Business License
• Special Event Permit
• Liquor license
• Fire/fireworks permit
• Health and Safety Permit
• Seller’s Permit

Insurance: While not a permit or license, having general liability insurance, and possibly professional liability insurance, is highly recommended to protect your business from potential liabilities.

8. Build a Core Team

Hiring employees is a crucial step. The team you set up will be the business’s backbone, helping you effectively manage and execute events.

Here are key roles you need to consider when building your core team:

• Event Coordinator
• Marketing and Communication Specialist
• Sales Representative
• Logistics Coordinator
• Administrative Support

You can hire event planners from Zippia, Upwork, Workstream, and also through LinkedIn.

9. Marketing to Spread the Word

You need to build effective marketing strategies to spread the word about your business to attract clients and establish your brand in the competitive world of events. You also need to set some marketing budget.

Here are some key areas to consider:

Target Audience

Who are you trying to reach and cover? Understand their interests, objectives, and event planning needs.

Developing a Strong Brand Identity

First, see what makes your service stand out. Developing a strong USP(Unique Selling Proposition) will help you grow your business by making it recognizable in a competitive market.

Build a professional website

Create a website that is visually appealing, informative, user-friendly, and easy to navigate.

Content Marketing

Be active on social media platforms like Instagram, Facebook, and Pinterest, sharing visually appealing content and engaging with your audience.

Showcase your successful events and satisfied clients to demonstrate your capabilities. Post the reviews of your customers on social media accounts.

Now you might be pretty much clear about how to kick-start an Event Planning Business.

To launch successfully, it’s essential to have a deep understanding of your target market, a solid business plan, and a clear grasp of the legal structure and financial aspects of running the business.

You’ve got everything now! What are you waiting for? Let’s start your journey as an event planner.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks, AI-assistance, and automatic financials make it easy.

Frequently Asked Questions

What do you need to start an event planning business.

To start an event planning business, you’ll need several key components:

• Business Plan
• Market Research
• Legal Setup
• Financial Management
• Branding and Marketing

Do you need a degree to start an event planning business?

Technically speaking, you don’t need an event planning degree to become a professional event planner. However, there are certain qualities, skills, and certificates to help you attract clients when you start the event planning industry.

A degree in a field related to events planning, design, and management may give you an edge. All other skills can be developed over time.

How can I find clients as a new event planner?

You can get your customers through:

• Building an online presence
• Collaborations with known faces
• Referral Programs
• Advertisement

Should I register my business as an LLC, sole proprietorship, or corporation?

Each structure has pros and cons, so consult with a legal or financial           advisor for the best fit:

• Sole proprietorship: Easiest to set up, but you have unlimited personal liability.
• LLC: Offers some liability protection and is relatively simple to manage.
• Corporation: More complex setup, but provides greater liability protection and tax benefits.

What skills are required to be an event planner?

To become a successful event planner, you may not need formal education, but you do have to master these skills:

• Communication Skills
• Networking skills
• Adaptability
• Negotiation Skills
• Budget Management
• Level-headed and calm under pressure
• Attentive to details
• Humble and Responsive to Clients’ Needs

About the Author

Shyam Dua is a seasoned tax professional with 40+ years of experience & a mentor at SCORE. He stands out due to his exceptional business planning skills. With a keen eye for detail and a strong financial acumen, Shyam crafts compelling business plans that pave the way to success. A CPA with a philanthropic heart, Shyam's strategic expertise, and dedication make him an invaluable asset in shaping thriving business ventures. Read more

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Get the most out of your business plan example

Follow these tips to quickly develop a working business plan from this sample.

1. Don't worry about finding an exact match

We have over 550 sample business plan templates . So, make sure the plan is a close match, but don't get hung up on the details.

Your business is unique and will differ from any example or template you come across. So, use this example as a starting point and customize it to your needs.

2. Remember it's just an example

Our sample business plans are examples of what one business owner did. That doesn't make them perfect or require you to cram your business idea to fit the plan structure.

Use the information, financials, and formatting for inspiration. It will speed up and guide the plan writing process.

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Writing Event Planning Business Plan: Step-by-Step Guide

February 9, 2024

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Who knows the importance of a well-laid plan better than event planners? We don’t have to tell you that you absolutely need to write an event planning business plan, but we’ll tell you how to do it. 

And don’t worry – an event planning business plan isn’t just for those who’re just starting their event planning business . It’s also for those who want to avoid business risks, explore better opportunities, and build trust with their clients on a deeper level. If some of these things describe your event planning business, let’s discover the essentials of your business plan and how to develop one yourself. 

Why Event Planning Business Plan Matters

A well-thought-out event planning business plan is crucial for several reasons, and it can empower entrepreneurs in the event planning industry such as yourself to achieve a variety of objectives. Here’s why it matters and what you as an event planning business owner will achieve with a solid business plan:

• A business plan serves as a roadmap for your event planning business. It outlines your goals, strategies, and the steps you need to take to achieve success.
• You’ll use the plan as a guiding document to stay focused on your objectives and navigate the complexities of the event planning industry.
• Investors and lenders often require a detailed business plan before considering any financial support.
• An event planning business plan showcases the viability and potential profitability of your business, attracting investors and securing funding.
• The process of creating an event planning business plan encourages you to thoroughly analyze their market, competitors, and target audience.
• Once you’ve gone through that process, you’ll make informed decisions based on this analysis, adapt strategies to changing market conditions, and maximize opportunities.
• A well-crafted event planning business plan allows you to clearly articulate your unique selling propositions (USPs) and competitive advantages.
• Use these differentiators to stand out in a crowded market, attract clients, and establish a strong brand presence.
• Financial projections included in the business plan provide a clear picture of revenue, expenses, and potential profits.
• Entrepreneurs can use this financial data to manage their resources effectively, make budgetary decisions, and ensure the financial health of their event planning business.
• The marketing and sales strategies outlined in the business plan help your event planning business to define its target audience and communicate its brand message.
• You’ll leverage the event planning business plan to implement effective marketing campaigns, build brand awareness, and attract clients.
• The business plan includes a risk analysis, identifying potential challenges, and outlining mitigation strategies.
• Instead of waiting, you can proactively address risks , enhancing the resilience of your event planning business and ensuring continuity in the face of unforeseen challenges.
• Sharing a comprehensive business plan with potential clients demonstrates professionalism and transparency.
• Entrepreneurs can use the plan to build trust with clients, assuring them of their capabilities and commitment to delivering successful events.

The Essential Elements of Successful Event Planning Business Plan

Before you get overwhelmed with all the different terms and instructions, let me assure you that writing an event planning business plan is easier than it seems. Let’s start with baby steps to go over the essential elements of a successful event planning business plan, and continue with learning how to write each of these sections for your business.

• Executive Summary
• Company Description
• Services You Offer
• Target Market
• Event Planning Market Analysis
• Marketing & Sales Strategy
• Operational Plan
• Team Structure
• Financial Projections
• SWOT Analysis
• Legal Structure
• Funding Request (if applicable)

How to Write an Event Planning Business Plan?

There are exactly 13 steps that separate you from your event management business plan. 

Each of these steps is a separate section in the plan, and we’ve got you covered with actionable tips and examples on how to write each one. We recommend you start taking notes and working on your event planning business plan along with reading further. 

1. Writing Executive Summary for Event Management Business Plan

Writing an effective executive summary for your event planning business plan is crucial, as it’s the first section potential investors or partners will read. But don’t get it twisted – the executive summary is actually the section you’ll finish at the end. The executive summary should provide a concise overview of your business and its key elements.

It’s basically a snapshot of your entire business plan, so make every word count.

Image by vectorjuice on Freepik

It should entice readers to explore the details while providing a clear understanding of the value your event planning business brings to the market.

And how do you write an executive summary for an event management business plan? We’ve prepared a step-by-step guide and an example!

Start with a strong opening

Begin with a compelling and concise introduction that grabs the reader’s attention. Clearly state the purpose of your business plan and briefly mention your mission or vision for the event planning business.

Provide a brief overview of your business

Offer a snapshot of your event planning business, including its name, location, and the types of events you specialize in. Highlight any unique aspects of your business that set you apart from competitors.

Articulate your unique selling proposition (USP)

Clearly define what makes your event planning business unique and why clients should choose your services. Emphasize any innovative approaches, special expertise, or exclusive services you offer.

Outline your key objectives

Concisely list the main objectives and goals of your event planning business. Keep these goals specific, measurable, and aligned with the overall vision of your business.

Describe your target market

Provide a brief overview of your target audience, including demographics and preferences. Highlight any niche markets or specific industries you plan to focus on.

Introduce your team

Briefly introduce key members of your event planning team, emphasizing their relevant skills and experience. Highlight any unique qualifications that make your team well-suited for event planning success.

Mention key achievements or milestones

If your event planning business has achieved notable milestones or garnered recognition, mention them briefly. This adds credibility and demonstrates your business’s track record.

Summarize your financial projections

Provide a high-level overview of your financial projections, including revenue expectations and growth forecasts. Highlight key financial metrics that showcase the profitability of your event planning business. You can use an AI summarizer to help you list the main points and present them in your proposal

Include a call to action

End the executive summary with a call to action, indicating what you’re seeking from the reader (investment, partnership, etc.). Encourage further exploration of the full business plan.

If all the above procedures seem difficult to you, there is an advanced and more effective way to write an executive summary which is a summary generator . It can help you write concise and unique summaries automatically. All you need to do is paste the necessary details of your event management business plan into the tool and run it. The summary generator will instantly provide an engaging executive summary.

Executive summary for event planning business plan example:

Executive Summary: XYZ Events

• Introduction:

XYZ Events is a dynamic and innovative event planning company located in [City, State]. With a passion for creating unforgettable experiences, we specialize in crafting seamless and unique events that leave a lasting impression. Our mission is to exceed client expectations by delivering exceptional events that reflect their vision and style.

• Key Business Information:

Founded in [Year], XYZ Events has quickly established itself as a leader in the event planning industry. We are proud to offer a comprehensive suite of services, including corporate events, weddings, and social gatherings. Our team of experienced event planners is committed to turning every client’s vision into a reality, providing meticulous attention to detail and unparalleled creativity.

• Unique Selling Proposition (USP):

What sets XYZ Events apart is our innovative approach to event planning. We leverage cutting-edge technology to enhance the planning process and create immersive experiences for our clients. Our team combines creativity with strategic thinking, ensuring that each event not only meets but exceeds expectations. Whether it’s a corporate conference, a dream wedding, or a milestone celebration, XYZ Events brings a fresh and personalized touch to every occasion.

• Objectives:

XYZ Events is poised for strategic growth over the next three years. Our primary objectives include expanding our client base, increasing revenue by 25%, and establishing key partnerships within the hospitality and entertainment industries. We are committed to maintaining our reputation for excellence while embracing new opportunities for innovation and growth.

• Target Market:

Our target market includes corporate clients seeking professional event management, couples looking for a stress-free wedding planning experience, and individuals hosting social events. We understand the unique needs of each segment and tailor our services to create memorable and impactful events.

Led by [Founder/CEO], our team comprises seasoned event planners, designers, and coordinators with a proven track record of success. Our diverse skill set allows us to approach each event with creativity and expertise, ensuring a seamless and enjoyable experience for our clients.

• Financial Projections:

XYZ Events anticipates steady growth, with projected revenue of $[Amount] in the first year and a cumulative growth rate of 20% over the next three years. Our financial projections are based on a comprehensive market analysis and a strong understanding of industry trends.

• Call to Action:

We invite you to explore the detailed business plan to discover how XYZ Events plans to revolutionize the event planning landscape. Whether you’re an investor, potential client, or industry partner, we welcome the opportunity to collaborate and create exceptional experiences together.

XYZ Events is not just an event planning company; we are architects of unforgettable moments. Join us in shaping the future of event experiences.

2. Company Description

Company description exists in your event management business plan to provide an overview of your business, its history, and its structure. But how do you create a solid company description you’ll be proud to put into your business plan for everyone to read?

Begin with a concise and engaging introduction that captures the essence of your event planning business. Clearly state the name of your company and its primary purpose. Your event management business plan should i nclude fundamental details such as the location of your business, the date it was founded, and any key milestones. You should also mention the legal structure of your company (e.g., LLC, sole proprietorship).

Company description should clearly articulate the mission and values that drive your event planning business. Express the purpose of your business and the principles that guide your operations. Another important aspect are also your services, and you should provide a brief but comprehensive overview of the event planning services your business offers. Highlight any specialties or unique aspects that set your services apart. 

More tips for company description in business plan for event hosts:

Explain the problem you solve.

Clearly articulate the problems or challenges your event planning business addresses. Describe how your services meet the needs of clients by providing solutions and creating memorable experiences.

Share your business story

Offer a brief narrative that tells the story of how your event planning business came into existence. Include any inspiration, challenges overcome, or unique experiences that shaped your business.

Highlight key achievements

Mention any notable achievements or milestones your event planning business has reached. This could include successful events, recognition, or significant client satisfaction.

Emphasize your team’s expertise

Introduce key members of your team, emphasizing their relevant skills and experience in event planning. Highlight any certifications, awards, or industry recognition your team has received.

Explain your competitive edge

Clearly define what makes your event planning business stand out from competitors. Emphasize unique features, innovative approaches, or exclusive services that give you a competitive advantage.

Discuss your growth strategy

Outline your plans for the future growth of your event planning business. Discuss any expansion plans, target markets, or strategic partnerships you’re considering.

Remember that the goal of company description is to become a solid foundation for readers to understand your company’s identity and value proposition.

3. Describing Services You Offer in Event Management Business Plan

Describing the services you offer in an event management business plan is a crucial component, as it helps potential investors, clients, and partners understand the scope and value of your offerings. It also helps you make money hosting events , so let’s see how to do it right:

• Begin by clearly defining each service you offer in your event management business. Use concise and specific language to articulate the scope and nature of each service.
• If your event management business provides a range of services, consider grouping them into categories or creating service packages . For example, you might have categories like corporate events, weddings, social gatherings, and conferences.
• Provide an overview of the planning process for each service. Outline the steps involved, from initial client consultation to post-event evaluation.
• Emphasize your ability to customize services to meet the unique needs and preferences of each client.Discuss how you tailor your approach to different types of events and client requirements.
• If you offer day-of coordination or event management services, explain the level of support clients can expect. Highlight your role in ensuring smooth event execution and addressing unforeseen challenges.
• If your event management business leverages technology tools or event management software , mention them. Explain how technology enhances efficiency, communication, and the overall event experience.
• If your services include event design and styling, describe your creative process. Showcase your expertise in creating visually appealing and thematic events.

Image by storyset on Freepik

• If you handle vendor relationships as part of your services, discuss how you source and manage vendors. Highlight your ability to negotiate contracts and secure competitive pricing.
• If your event management business assists with venue selection and logistics, explain your approach. Discuss criteria for venue selection and how you manage logistical aspects like transportation and accommodation.
• If your services involve budgeting and financial management, outline your approach. Explain how you help clients set realistic budgets and manage expenses throughout the planning process.
• If your event management business offers marketing and promotional services, detail your strategies. Discuss how you enhance the visibility of events and attract attendees.
• Include case studies or examples of past events you’ve successfully managed. Use real-world examples to illustrate the effectiveness of your services.
• Highlight your ability to adapt to different event sizes, themes, and cultural considerations. Showcase your flexibility in catering to diverse client needs.

4. Explaining Your Target Market

Explaining your target market in your event management business plan is essential for demonstrating a clear understanding of your potential clients an d how your services meet their needs.  

Because of that, you need to clearly define the demographic, geographic, and psychographic characteristics of your target audience. Identify the specific industries, groups, or individuals you aim to serve with your event management services.

If applicable, segment your target market based on different types of events (e.g., corporate events, weddings, social gatherings). Highlight any niche markets or specialized segments you plan to focus on. Don’t forget to include relevant demographic details such as age, income level, occupation, and education. Specify the size of the target market and any relevant trends within these demographics.

Psychographic factors are also important! Discuss the interests, lifestyles, and values of your target market. Explain how your event management services align with the preferences and attitudes of your audience.

More tips for explaining your target market in business plan:

Consider geographic factors

Outline the geographic locations where your target market is concentrated. If your services are location-specific, explain why you’ve chosen those areas.

Identify pain points and needs

Clearly articulate the pain points, challenges, and needs of your target market. Explain how your event management services address and alleviate these issues.

Highlight trends and market growth

Showcase any relevant trends or growth opportunities within your target market. Discuss how your event management business is positioned to capitalize on these trends.

Competitor analysis

Conduct a competitor analysis within your target market. Identify existing event management companies catering to the same audience and explain how your approach differs or improves upon theirs.

Explain your unique value proposition (UVP)

Clearly define your unique value proposition and how it resonates with your target market. Emphasize what sets your event management services apart from competitors.

Provide testimonials or case studies

If available, include testimonials or case studies from past clients within your target market. Use real-world examples to demonstrate your successful track record.

Discuss decision-making factors

Explain the factors that influence your target market’s decision-making process when choosing an event management service. Highlight how your business addresses these factors and provides solutions.

5. Event Planning Market Analysis

It’s not enough to do market analysis.

Presenting your market analysis clearly and compellingly is crucial in an event management business plan. Here is how to do it:

• Begin the market analysis section with a brief executive summary. Summarize the key findings, such as market size, growth trends, and major opportunities or challenges.
• Provide a general overview of the event management industry. Highlight the significance of the industry and the role it plays for other businesses. 
• Clearly define your target market, including demographics, psychographics, and geographic considerations. Present a detailed picture of the audience you aim to serve with your event management services.
• Present current industry trends and developments. Use charts or graphs to illustrate trends, making the information visually engaging.
• Provide estimates of the overall market size for event management services. Present historical growth data, future projections based on reliable sources and other insightful event statistics.
• Include a comprehensive analysis of your competitors. Create a chart or table that highlights key competitors, their market share, strengths, and weaknesses.
• Present the results of your SWOT analysis.
• Provide insights into the challenges and opportunities within the industry. Discuss how your business plans to navigate challenges and leverage opportunities. For example, how do your competitors effectively leverage event booking systems , and how efficient are they?
• Detail the pricing strategies and fee structures prevalent in the market. Explain your pricing strategy and how it aligns with the perceived value of your services.
• Present findings on consumer behavior when selecting event management services. Discuss factors influencing their decisions and preferences.
• Discuss the distribution channels commonly used in the event management industry. Explain how your business plans to reach and engage your target audience.
• Discuss the impact of technology on event management services. Highlight any technological advancements that your business plans to leverage such as event ticketing apps and tools .
• Explore relevant environmental and social trends influencing event planning preferences. Show how your business is aligned with or responds to these trends.
• Include selected customer feedback and testimonials. Use real-world examples to demonstrate client satisfaction and success stories.
• Incorporate visual aids such as charts, graphs, and tables to present data in an easily digestible format. Use visuals to enhance key points and make the information more engaging.

Remember to tailor the presentation of your market analysis to your specific audience —whether it’s potential investors, partners, or internal stakeholders. Clear and concise communication of your market insights will contribute to a strong and convincing event management business plan.

6. Marketing & Sales Strategy

Next chapter of your event planning business plan is developing and presenting a robust marketing and sales strategy. It’s crucial for attracting clients and investors. Here’s a step-by-step guide on how to formulate and effectively present this section:

Marketing Strategy

Target market and positioning.

• Clearly define your target market segments and demographics.
• Explain how your event management services meet the needs of these specific markets.
• Emphasize the unique value proposition that positions your business uniquely in the market.

Branding and identity

• Outline your brand identity, including logo, colors, and messaging.
• Describe how your brand reflects the values and positioning of your event management business.

Online presence

• Detail your online presence, including a professional website and social media profiles.
• Discuss the platforms you will use to connect with your audience and share updates.

Content marketing

• Explain your content marketing strategy to showcase expertise and engage your audience.
• Detail plans for blog posts, articles, case studies, or other content that demonstrates your event planning knowledge.

Search engine optimization (SEO)

• Discuss your SEO strategy to improve the visibility of your website in search engine results.
• Outline the keywords relevant to your business and how you plan to optimize your online content.

Email marketing

• Detail your email marketing strategy for reaching and nurturing potential clients.
• Discuss the types of emails you’ll send, the frequency, and the goals of your email campaigns.

Networking and partnerships

• Identify networking opportunities within the event planning industry.
• Discuss potential partnerships with vendors, venues, or other businesses that can enhance your service offerings.

Sales Strategy

Sales channels.

• Identify the primary sales channels you will utilize (direct sales, online sales, partnerships, etc.).
• Explain how these channels align with your target market and marketing strategy.

Sales team structure

• If applicable, outline your sales team structure.
• Introduce key members and their roles in the sales process.

Sales tactics

• Provide a detailed explanation of your sales tactics and methodologies.
• Discuss how you plan to approach potential clients, conduct consultations, and close deals.

Pricing strategy

• Clearly outline your pricing strategy for event planning services.
• Explain how your pricing aligns with the value you provide and competitive market rates.

Sales forecast

• Present a sales forecast outlining expected revenue based on your sales projections.
• Break down the forecast by service categories or target markets.

Customer relationship management (CRM)

• Discuss your CRM system and how it will be used to manage client relationships.
• Highlight how you plan to retain clients for repeat business.

Sales promotions and incentives

• Outline any sales promotions, discounts, or incentives you plan to offer.
• Explain how these strategies align with your overall marketing and sales goals.

Presentation Tips

• Use visuals like charts, graphs, and images to enhance the presentation. Create a visual representation of your sales funnel, conversion rates, or growth projections.
• Be concise and use clear language to communicate your marketing and sales strategies. Avoid jargon or overly technical terms that may confuse your audience.
• Present realistic and data-backed projections . Show a clear understanding of your market, industry trends, and potential challenges.

7. Operational Plan

Writing an operational plan for your event management business plan involves detailing the day-to-day operations, logistics, and processes that ensure the successful execution of events. But how do you structure and write an effective operational plan? Let’s see:

• Describe the physical location of your event management business. Discuss any facilities, office space, or storage areas you use to support your operations.
• Outline the organizational structure of your event management team. Introduce key team members, their roles, and responsibilities. Emphasize the expertise and experience that each team member brings to the business.
• Provide detailed job descriptions for each team member. Clearly define the roles and responsibilities associated with event planning, coordination, design, marketing, and any other relevant functions.
• Discuss your staffing plan, including the number of full-time, part-time, and contract staff. Detail any plans for hiring additional team members based on business growth.
• Outline your approach to training and developing your event management team. Discuss ongoing education, certifications, or workshops that contribute to professional development. 
• Detail the workflow and processes involved in event planning and execution. Provide a step-by-step guide, from initial client consultation to post-event evaluation.
• Discuss how you source, negotiate with, and manage vendors. Outline criteria for selecting vendors and maintaining strong relationships with them.
• Identify the technology tools and software you use to enhance operational efficiency. Discuss any event management plugin , project management software, communication tools, or CRM systems.
• Detail your approach to handling event logistics, including transportation, equipment, and supplies.
• Discuss how you ensure that all necessary equipment and materials are available for each event.
• Explain how you maintain high-quality standards in event planning and execution. Detail your quality control processes to ensure client satisfaction.
• Outline measures to ensure the well-being of attendees, staff, and vendors during events.
• Provide an emergency response plan that addresses potential risks during events. Outline procedures for handling unforeseen challenges and ensuring the safety of all involved parties.
• Create a timeline that outlines key milestones and deadlines for event planning and execution. Detail your approach to monitoring and evaluating the success of each event.
• Discuss feedback mechanisms, post-event surveys, and metrics used to assess performance.

8. Team Structure

Explaining the team structure in your event planning business plan provides the reader with a clear understanding of the roles and responsibilities within your organization. You should:

• Include an organizational chart that visually represents the hierarchy and relationships within your event planning team. Clearly show the positions and reporting lines.
• Identify and introduce key leadership positions within your team. This may include the founder/CEO, directors, or senior managers responsible for overall business strategy and decision-making.
• Detail the core event planning team members and their roles. Specify responsibilities such as event coordination, logistics, design, and client communication.
• Provide detailed descriptions of the roles and responsibilities for each team member. Clearly define what each position is accountable for within the event planning process.
• If applicable, detail the responsibilities and contributions of the founder/CEO. Highlight their vision, leadership, and strategic role in the company.

9. Financial Projections for Event Management Business Plan

Image by Freepik

Everybody loves money, but not many people love finances and the complications that come with it.

Creating financial projections for your event management business plan involves estimating future revenue, expenses, and profitability. If it seems complicated, it’s better to hire an expert. Here’s a step-by-step guide to help you navigate the process:

Begin by estimating your sales revenue. Break down your services into categories (e.g., corporate events, weddings) and project the number of events you expect to handle.

Consider the pricing strategy for each service and calculate the total sales for each category.

Expense projections

Identify and estimate all the expenses associated with running your event management business. This includes:

• Variable Costs: Directly tied to the number of events (e.g., event materials, transportation).
• Fixed Costs: Remain constant regardless of the number of events (e.g., rent, salaries, insurance).
• One-time Costs: Initial expenses such as marketing campaigns or setting up a website.

Gross profit margin

Calculate the gross profit margin by subtracting the total cost of goods sold (COGS) from the total revenue. This provides a measure of profitability before accounting for fixed expenses.

Operating expenses

List and estimate all operating expenses, including rent, utilities, salaries, marketing, and any other ongoing costs. Break down these expenses into monthly or annual categories.

Net profit or loss

Calculate the net profit or loss by subtracting total operating expenses from the gross profit. A positive result indicates profitability, while a negative result signals a loss.

These are all the most important financial projections, let see some additional ones you can use to strengthen your event planning business plan.

Additional financial projections for event managers:

 cash flow projection.

Create a cash flow projection to estimate the inflow and outflow of cash over a specified period.

Factor in the timing of payments from clients, vendor payments, and other financial transactions.

 Break-even analysis

Perform a break-even analysis to determine the number of events or revenue needed to cover all costs. This helps identify when your business will become profitable.

Sensitivity analysis

Conduct a sensitivity analysis to evaluate the impact of changing variables on your financial projections. Identify key factors that could influence your projections and assess their potential impact.

Financial ratios

Calculate financial ratios such as return on investment (ROI), gross margin, and others relevant to your business. These ratios offer additional insights into your business’s financial health and performance.

Pro forma balance sheet

Create a pro forma balance sheet to summarize your assets, liabilities, and equity at a specific point in the future. This provides a snapshot of your business’s financial position.

Pro forma income statement

Develop a pro forma income statement that outlines expected revenues, costs, and profits over a specified period. This statement provides a comprehensive overview of your business’s financial performance.

 Pro forma cash flow statement

Prepare a pro forma cash flow statement that shows the flow of cash in and out of your business. This statement helps ensure that your business has sufficient cash to meet its obligations.

Graphs and visuals

Use graphs and visuals to present key financial data in a clear and visually appealing manner. Visual aids can make it easier for stakeholders to understand your projections.

10. SWOT Analysis

A SWOT analysis is a strategic planning tool that helps businesses identify their internal Strengths and Weaknesses, as well as external Opportunities and Threats. Conducting a SWOT analysis for an event management business plan can provide valuable insights into its current state and potential future challenges and opportunities. Let’s see how to do it right:

Example: Experienced and Creative Team

Your event management business may have a team with extensive experience and creativity, contributing to the successful planning and execution of events.

Example: Strong Vendor Relationships

If your business has established strong relationships with reliable vendors, it can leverage these connections for better deals, quality services, and smoother event logistics.

Example: Limited Marketing Budget

If your business has a limited marketing budget, it may face challenges in reaching a broader audience and competing with businesses that invest more in promotional activities.

Example: Dependence on Key Personnel

If your business heavily relies on specific individuals, such as key event planners, their absence or departure could pose a risk.

Opportunities

Example: Growing Demand for Virtual Events

If there’s a growing demand for virtual events, your business can seize the opportunity to expand its services to meet this emerging trend.

Example: Collaboration with Local Businesses

Collaborating with local businesses or venues could open up opportunities for mutually beneficial partnerships and increased visibility.

Example: Economic Downturn

Economic downturns can lead to reduced corporate budgets for events, posing a threat to the demand for event planning services.

Example: Intense Competition

An increase in the number of event management businesses in your area could intensify competition, making it crucial to differentiate your services effectively.

SWOT Analysis Overview

Internal factors are within your control and are related to the organization itself. Strengths are positive attributes that contribute to success, while weaknesses are internal challenges that need addressing.

External factors are beyond your immediate control and involve the external environment. Opportunities are favorable external conditions that your business can leverage, while threats are external challenges that your business needs to navigate or mitigate.

11. Legal Structure

In the legal structure section of your event management business plan, you’ll outline the legal framework under which your business operates. This section is crucial for potential investors, partners, and stakeholders to understand the formal structure of your business. Let’s see the exact steps you should take to maximize the impact of this section:

#1 Clearly specify the legal structure of your event management business. Common structures include:

• Sole Proprietorship: Owned and operated by a single individual.
• Partnership: Owned and operated by two or more individuals.
• Limited Liability Company (LLC): Provides liability protection for owners.
• Corporation: Offers separate legal identity and limited liability for shareholders.

#2 Provide details about the ownership of the business. Include the names, roles, and ownership percentages of all owners or partners. Specify if there are any major investors or stakeholders.

#3 Mention the legal registration details of your business, including the business name, registration number, and the jurisdiction where you are registered. Include information about any trademarks or copyrights associated with your business.

#4 Outline how your event management business complies with local, state, and federal regulations. Specify any industry-specific regulations or licensing requirements.

#5 Detail the types of insurance coverage your business carries to mitigate risks. This may include liability insurance, property insurance, or event cancellation insurance.

#6 Highlight key contracts and agreements that govern your business operations. This might include client contracts, vendor agreements, and partnership contracts.

#7 Discuss the measures your business has taken to manage legal and operational risks.

#8 Briefly mention your exit strategy, especially if you plan to sell the business, go public, or transition ownership in the future.

12. Funding Request (if applicable)

If you want to ask for additional funds for your business, that makes your event management business plan even more important. Writing a funding request in your event planning business plan is a crucial section that communicates your financial needs, the purpose for seeking funding, and how the funds will be utilized to achieve business goals. 

Key tips for influential funding requests for event managers:

• Provide a brief overview of your event planning business. Highlight key achievements, milestones, and aspects that make your business stand out. 
• Clearly articulate why you are seeking funding. Specify the purpose of the funds, whether it’s for expansion, marketing, technology upgrades, working capital, or any other specific need.
• Outline the preferred funding structure, such as equity financing, debt financing, or a combination of both. Specify the terms and conditions you are seeking, including the desired interest rates, repayment periods, or equity shares.
• Marketing and advertising.
• Technology upgrades.
• Staffing and training.
• Event logistics and equipment.
• Working capital for day-to-day operations.
• Present relevant financial projections to support your funding request. Show how the infusion of funds will contribute to revenue growth, profitability, and other key financial metrics.
• Discuss the anticipated return on investment for the potential investors. Highlight the expected financial benefits and how their investment will contribute to the business’s success.
• Provide a realistic assessment of potential challenges and how you plan to overcome them.
• If applicable, outline your exit strategy. Explain how investors will realize returns on their investment, whether through an IPO, acquisition, or other means.
• Emphasize your business’s competitive advantage and how the funding will strengthen that position. Highlight unique features, customer satisfaction, or proprietary methods that set your business apart.
• Set clear milestones and targets that will be achieved with the funding. This demonstrates a strategic plan and helps investors understand the trajectory of your business.
• Provide a timeline for when you anticipate securing the funding and when it will be utilized. This helps investors understand the urgency and planning behind your funding request.

13. Appendix

The appendix of an event management business plan is an additional section where you can include supplementary information to support and enhance the main body of the document. It’s a place to include detailed information, data, or documents that are important for understanding your business but may be too extensive or specific to include in the main sections. Here’s a list of items that you might consider including in the appendix of your event management business plan:

• Financial documents, including income statements, balance sheets, event proposal templates , cash flow statements, and break-even analysis. 
• Market research and analysis with detailed surveys, insights, and key competitors. 
• Marketing and promotional materials
• Client testimonials and case studies:
• Legal documents such as business licenses, permits, and contracts.
• Operational documents such as SOPs (standard operating procedures), event management resources , and sample checklists you use for event planning. 
• Detailed information about any specialized event planning or project management software.
• Certificates and awards
• Articles and press clippings

Pro tip : Include a table of contents for the appendix to guide readers through the additional materials.

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• Amelia is more than just an event calendar; it’s a responsive and customizable plugin that adapts to various event types. Whether you’re organizing virtual meetups or grand offline galas, Amelia is tailored to your specific requirements.
• Experience the ease of setting up recurring events with various options. From weekly meetings to annual conferences, Amelia’s clear calendar view simplifies the management of recurring events.
• Effortlessly create visually appealing booking pages using shortcodes or popular page builders like Divi, Elementor, or Gutenberg blocks. With Amelia, your event booking page can be up and running in a matter of minutes.
• Offer your attendees flexibility with Amelia’s deposit payment feature. Let them pay a partial amount upfront and the rest upon arrival, especially beneficial for on-site events.
• Hosting events in multiple languages? Amelia’s translation option ensures a seamless booking experience for your international audience.
• Set different ticket prices based on attendees’ profiles or purchase date. From early bird specials to varying prices for adults and kids, Amelia gives you control over sales periods and pricing.
• Enhance navigation for both organizers and attendees by creating event tags and using different colors to distinguish event types.

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• Custom Fields for Booking Forms

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How to Start an Event Planning Business: The Ultimate Guide

It's no surprise that starting an event planning business involves many moving parts. It can feel overwhelming, from identifying your unique selling proposition and having all the key skills to executing flawless events to getting all the required compliances. But not anymore. 

In this guide, we'll discuss everything about  event planning  and provide a step-by-step guide on how to start your own event-planning business. This post covers everything from determining profitability to understanding the skills you need to run a successful business.   

But before you dive headfirst into how to start an event planning business, let's take a step back and understand the basics. 

What is Event Planning in Business?

If you plan to start your event planning business, you probably know the answer to this question. Event planning involves managing the details of large or small events, including meetings, conferences, or parties. This business is typically utilized for: 

• Large educational meetings, such as graduations or conferences.
• Major promotions, including marketing events, product launches, and fashion shows.
• Corporate events , like after-work cocktail hours, trade shows, galas, and more.
• Celebrations and social events like parades, weddings, birthdays, reunions, and more. 

What Do Event Planning Businesses Provide?

As an event planner, you are expected to work with clients to understand their requirements and goals and then provide end-to-end event planning and execution services to ensure the seamless and successful execution of in-person or virtual events . 

Some of the services you must include are:

• Event management and coordination
• Theming, décor, and styling
• Conferencing and exhibitions
• Signage and branding
• Entertainment and talent management
• Venue sourcing and management
• Catering and food & beverage management
• Audio-visual production and management
• Logistics and transportation management
• Budgeting and financial management
• Marketing and promotion
• Security and risk management
• Registration and guest management
• Post-event evaluation and reporting 

Why Do People Hire Event Planning Businesses?

There are two primary reasons why people hire event planning services: 

• To allow event attendees and guests of honor to thoroughly enjoy themselves without worrying about event logistics. 
• To ensure that the event runs without any glitches. 

Consider a typical corporate conference, for example. 

A business may hire your services to create a stellar multi-day conference while their employees and attendees can focus on networking or learning. This way, they don’t have to worry about details like catering, keynote speakers, registration, and managing the event schedule. 

Advantages and Disadvantages of Starting an Event Planning Business

As with everything, the event planning business also has advantages and disadvantages. Some of them are: 

• Enjoy the freedom to choose who you work with, where you work, and how you manage your schedule.
• Pull off a showstopping event, and chances are your clients will return repeatedly, thus building loyalty.
• Event planning business lets you unleash your creativity as you get to design events that are unique and unforgettable for your clients. 
• Establishing relationships with reliable vendors takes time, especially in a crowded market.
• Growing your business needs adding resources or raising prices, which can be tricky.
• Most of the time, although the planning takes place in advance, you must ensure your presence in the field during the event—meaning long working hours, even on evenings and weekends. 

How to Start an Event Planning Business

Here are some steps to help you start an event planning business: 

Evaluate your  event planning skills.

Event planning involves many tasks beyond the glamor of parties and events. To be successful, you must be able to handle various responsibilities. After all, successful event planners are masters of multitasking, with a talent for keeping calm under pressure. 

For example, you’ll need to create an event theme or design, find a venue, arrange entertainment, book vendors, send RSVPs and marketing information to attendees, and balance the budget. The list goes on. 

If you're unsure whether you possess all the necessary event planning skills , consider gaining some hands-on experience. Perhaps shadow an experienced planner, assist with events at a local organization, or even volunteer for a nonprofit event. 

Create your event planning business plan.

A well-structured business plan is the foundation of any successful venture, and event planning is no different. Consider it your roadmap to success. Here are the key sections to include: 

• Executive Summary:  Summarize your business concept, goals, and what sets you apart.
• Overview : Outline your company background, structure (e.g., sole proprietorship), and essential details.
• Industry Analysis : Demonstrate your understanding of the local event planning market, including potential clients and event trends .
• Competitive Analysis: Examine your competition, identifying their areas of strength and areas you can exploit.
• Marketing : Craft a strategy for attracting clients—how will you make them aware of your exceptional services?
• Management: Detail your unique experience and skills.
• Operations Plan : Describe your day-to-day process for planning and executing events.
• Financials : Project your income, expenses, and profit expectations over your initial years of operation. 

Find your event planning niche.

Finding your niche is how you stand out from the rest—it helps you specialize in a specific subset of the broader event planning industry. Also, it becomes easier for your target market to find you. Common niches and event types include: 

• Business event planning:  Award ceremonies, charity and nonprofit events, corporate bonding retreats, meetings and seminars, conferences, grand openings, fashion shows, experiential events, holiday parties, networking events , trade shows, and VIP events. 
• Private/social event planning:  Weddings,   anniversaries, holiday parties, baby showers, theme parties, wedding/bridal showers, bachelor/bachelorette parties, milestone birthday parties, and murder-mystery parties. 

Identify your unique selling proposition.

Identify your event planning business’ unique selling proposition (USP) to set yourself apart from your competitors. It is the reason why clients should choose your company over others. 

Here’s how you can define your USP: 

• Identify your target market:  The first step in uncovering your event planning USP is to identify your target market. Who are your ideal clients? What type of events do they typically host? What are their pain points and needs? Understanding your target market lets you tailor your services to your client's needs and preferences. 
• Analyze your competition:  The next step is to analyze your competition. Who are your competitors? What services do they offer? What is their pricing strategy? What are their strengths and weaknesses? Understand your competition to identify gaps in the market and ways to differentiate your business. 
• Determine your unique strengths:  What sets your business apart from your competitors? What unique strengths do you bring to the table? It could be your expertise in a particular type of event, your creative approach to event design, your extensive network of vendors, or your exceptional customer service. Identify your unique strengths and use them to craft a compelling USP.

Consider funding and costs.

The events business can be lucrative, but getting started requires smart financial planning. Calculate your initial startup costs carefully. Price your services strategically so you cover expenses while remaining competitive. If number crunching isn't your strong suit, invest in a bookkeeper or accountant early on.

While exact costs vary by location and services offered, here's a ballpark range to get you thinking:

• Rent: $0 to $2,300
• Equipment: $5,000 to $17,000
• Inventory: $0 to $500
• Licenses and Taxes: $250 to $350
• Communications: $100 to $250
• Payroll: $0 to $4,000
• Advertising/Promotion: $500 to $2,000
• Legal Fees & Accounting: $650 to $1,500
• Insurance (1st Quarter): $800 to $1,700
• Miscellaneous: $750 to $1,500
• Total: $8,050 to $31,100 

Remember, startup expenses don't have to be astronomical. Begin with the essentials, and scale up as your business grows.

Structure your pricing strategy.

Pricing your services is an art and a science. Factor in your location (cost of living varies), your experience level, and what your competitors charge. Most importantly, ensure your pricing allows you to cover costs and earn a worthwhile profit while remaining attractive to clients. 

Remember, transparency is key—explain your fee structure clearly so there are no surprises later on.

Here are some common pricing models for your consideration: 

• Hourly rate: Ideal for projects where the scope is difficult to predict upfront. Rates typically range from $25 - $100+ per hour, depending on your skills and the complexity of the event. 
• Flat fee:  A single charge covers your planning services. This works well for events with well-defined parameters. Sometimes, planners add a percentage of vendor fees to ensure sufficient compensation. 
• Percentage of the event:  Typically, this will be 15-20% of the total event cost. Such pricing structure is common for complex events, as your fee scales alongside the project.  
• Day-of coordination:  A specialized service, handling the on-site logistics on the day of the event itself. 
• Vendor commission:  In this model, your income comes from commissions from selected vendors, rather than directly from the client. This requires careful negotiation and transparency with all parties involved. 

Obtain necessary legal documents and permits.

Don't neglect the legal side of your business. Taking these steps protects both you and your clients from potential issues:

Register Your Business :   Choose a legal structure (LLC, Sole Proprietorship, etc.) that's right for you, and register officially with your state. Obtain a tax ID—essential for everything from opening a bank account to filing taxes. 

Obtain Necessary Permits : The red tape of event planning might not be glamorous, but it's crucial. Permits vary by location, so contact local authorities to learn exactly what you need. Common examples include: 

• Building permits (tents) for outdoor events that require tents.
• Business license to operate legally.
• Event permits vary by city, so contact the local government for relevant ordinances.
• Noise permit if your event is outside.
• Fire/fireworks permit, which you must check with your county.
• You can get a health permit from your county’s health department.
• You need a liquor license if you plan to serve alcoholic beverages. 
• Seller’s permit, which you may need as an event planner.
• Temporary use/structure permit for vacant land or temporary space for loading areas, vendors, and parking. 

Get your event planning business insured.

Obtain insurance coverage for your event planning business to protect yourself and your clients from unexpected incidents. Here are some important coverages to consider:

• Workers' compensation:  This is mandatory in all states. It protects your employees (and yourself, if you count as an employee) in case of work-related illness or injury.
• General liability insurance:  A must-have for any event planning business. This protects you from claims of property damage or bodily injury at an event you organized. 
• Property insurance:  Safeguard your equipment (tables, chairs, laptops, etc.) from theft, fire, and other unexpected events.
• Business interruption:  If unforeseen circumstances force you to temporarily shut down, this can provide financial support. Think of it as backup income if things go awry.
• Business Owner's Policy:  This bundles several important coverages into one convenient package, often at a good value. 

Market your event planning business.

Once your business is set up, it's time to attract those exciting new clients. Here are some strategies to get you started:

• Build a Website: Your website is your online storefront. Services like Weebly and Squarespace make it easy, even if you're not tech-savvy. Invest time in making it visually appealing and easy to navigate.
• Boost Your Online Presence: List your business on directories like Yelp, Eventective, and Google My Business. This helps potential clients discover you when they're searching for event planners in your area.
• Get Social: Create engaging profiles on relevant platforms (Instagram, Pinterest, Facebook, etc.). Share social media-worthy photos, behind-the-scenes glimpses, and client testimonials.
• Traditional Marketing Still Works: Don't underestimate the power of beautifully designed brochures, flyers, and business cards. Distribute them strategically at local businesses or events.
• Get Referrals: Happy clients are your best advertisement. Encourage them to leave glowing reviews, and feature video testimonials on your website and social media.
• Strategic Partnerships: Caterers, photographers, venue owners—these businesses have the same clientele as you. Build relationships and create a referral network to mutually benefit. 

Related: Read some practical  event planning tips  for before, during, and after the event. 

What skills do you need to run an event planning business?

The basic skills needed to run an event planning business effectively are primarily soft skills, such as organizational skills, business management skills, and presentation skills. Here are some necessary skills to run an event planning business successfully: 

• Attention to detail
• Customer service
• Education (staying updated on event trends) or experience
• Interpersonal relationship skills
• Negotiation
• Organization
• Under-pressure performance 

Is an event planning business profitable?

Event planning has the potential to be a very profitable business venture. The fact that  89% of event and meeting leaders  consider in-person events crucial for revenue growth demonstrates the ongoing demand for well-planned events. 

However, the profitability of your event planning business will depend on several factors. The key to success lies in your ability to command premium rates for your services while keeping your expenses in check.            

What does an event planning business do?

An event planning business organizes and coordinates various aspects of events for individuals or organizations. This includes selecting venues, arranging catering and other vendors, creating event schedules and itineraries , managing budgets, and ensuring all necessary equipment and supplies are available. 

Do event planners travel a lot?

Event planners may travel depending on the nature of the events they plan. Some events may occur locally, while others may require travel to different cities or countries. Ultimately, the amount of travel required will depend on each event's specific needs and requirements. 

The Future of Event Planning is Yours to Create

The event planning industry offers vast opportunities for those with an eye for detail, a flair for organization, and a knack for staying on budget. Whether your heart lies in orchestrating sleek corporate events or bringing dream weddings to life, the skills you hone as an event planner are valuable in countless contexts. 

A carefully crafted business plan, paired with smart marketing and a dedication to providing exceptional experiences, can turn your passion into a truly successful venture. Find your niche, or cast a wide net—the choice is yours.

If you're ready to take the leap into the world of event planning, don't hesitate. Use this guide as your springboard. With hard work, a little business savvy, and a genuine love for creating memorable moments, there's no limit to what you can achieve.  

Up next, learn some  best practices in event management to create scalable and successful event strategies for your business.

John Hunter

John is the Senior Manager of Event Cloud Content Marketing at Cvent. He has 11 years of experience writing about the meetings and events industry. John also has extensive copywriting experience across diverse industries, including broadcast television, retail advertising, associations, higher education, and corporate PR.

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Launching Your Own Event Planning Company: A Step-by-Step Guide

Are you passionate about creating memorable experiences and have a knack for organization and creativity? If so, starting your own event planning company could be the perfect venture for you. In this guide, we will walk you through the essential steps on how to start your own event planning company successfully. From establishing your niche and creating a business plan to marketing your services and building a strong network, we will cover everything you need to know to turn your passion for event planning into a thriving business. Let’s dive into the exciting world of event management and discover how you can launch your own event planning company today!

Understanding the Event Planning Industry

When considering how to start your own event planning company , it’s essential to understand the dynamics of the event planning industry. Event planning involves coordinating and managing various aspects of an event to ensure its success.

The Role of Event Planners

Event planners play a crucial role in bringing together all the elements of an event, including venue selection, catering, entertainment, and décor. They act as liaisons between clients and vendors, ensuring that the event meets the client’s expectations.

Trends in Event Planning

In the current year , event planning has seen a shift towards experiential events that engage attendees on a deeper level. Personalization and technology integration have become key trends in creating memorable event experiences.

Market Research and Identifying Your Niche

Market research is crucial when starting your own event planning company. Conducting thorough research helps you understand the industry landscape, identify trends, and pinpoint gaps in the market. By analyzing data on event planning industry growth statistics in the current year, and consumer preferences, you can develop a strategic business plan.

Understanding Market Trends

Stay updated on the latest market trends in event planning. Look for emerging themes like virtual events, sustainable practices, and experiential marketing. Adapting to current trends can set you apart from competitors and attract a diverse clientele.

Identifying Your Niche

Define your specialty within the event planning industry to carve out a niche . Whether you focus on corporate events, weddings, or nonprofit galas, positioning yourself as an expert in a specific area can help you attract target clients effectively.

• Corporate Events
• Weddings and Celebrations
• Nonprofit and Fundraising Events

Creating a Business Plan for Your Event Planning Company

When starting your own event planning company, a comprehensive business plan is essential for success. Your business plan should outline your company’s goals, target market, services offered, marketing strategy, and financial projections.

Setting Your Goals

Define what you want to achieve with your event planning company. Whether it’s becoming a top planner in your region or specializing in corporate events, establish clear and achievable goals. Setting specific, measurable, achievable, relevant, and time-bound (SMART) goals can guide your business growth.

Identifying Your Target Market

Research and identify your target market. Determine the demographics, preferences, and needs of your potential clients. Knowing your target market allows you to tailor your services and marketing efforts effectively. Understanding your target audience can help you offer personalized event planning solutions.

Legal Requirements and Setting Up Your Business

When starting your own event planning company, it is essential to understand the legal requirements involved in setting up your business. This process can vary depending on your location, so it’s important to research the specific regulations that apply to you.

Business Structure

One of the first decisions to make is choosing the right business structure for your event planning company. Common options include sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has different legal and tax implications, so it’s crucial to select the most suitable one for your business needs.

Registration and Licenses

After deciding on the business structure, you will need to register your company with the appropriate authorities and obtain any necessary licenses or permits to operate legally. This may include a business license, tax ID number, and permits for specific event planning services.

Make sure to check with your local government for the exact requirements applicable in your area for event planning companies before proceeding.

Contracts and Insurance

Creating clear and detailed contracts with your clients is crucial to protect both parties’ interests. Additionally, obtaining liability insurance for your event planning business can provide financial protection in case of unforeseen incidents during events.

Building Your Team and Establishing Partnerships

When starting your own event planning company , assembling a competent and reliable team is crucial to success. Establishing partnerships with vendors, venues, and other service providers is essential for offering a diverse range of services.

Recruitment and Team Building

In building your team , look for individuals with creativity, organization skills, and attention to detail . Assign roles based on strengths to ensure a well-rounded team. Effective communication is key.

Fostering Relationships with Partners

Establishing partnerships with reliable vendors and venues is crucial. Cultivate these relationships through open communication and mutually beneficial agreements .

• Regularly communicate with partners to ensure smooth collaboration .
• Offer incentives or loyalty programs to maintain strong partnerships .

Developing Your Brand and Marketing Strategy

Building a strong brand is crucial for the success of your event planning company. Begin by defining your unique selling proposition and target audience. Create a memorable logo, color scheme, and tagline that reflects your company’s identity.

Crafting Your Brand Identity

Design a professional logo that resonates with your target market. Use consistent colors and fonts across all marketing materials to build brand recognition.

Develop a brand voice that reflects your company’s values and personality. This will help differentiate your business from competitors.

Marketing Your Event Planning Services

Utilize social media platforms to showcase your expertise and engage with potential clients. Create informative blog posts and share event planning tips to establish credibility.

• Collaborate with influencers in the event industry to expand your reach.
• Attend networking events and trade shows to promote your services and build connections.

Managing Finances and Pricing Your Services

When starting your event planning company, managing finances and pricing your services effectively is crucial for long-term success. It’s essential to create a detailed budget that encompasses all expenses involved in running your business.

Setting Your Service Prices Strategically

Consider the market rates and your target audience while setting prices for your event planning services. Researching competitors’ pricing strategies can help you determine a competitive yet profitable pricing structure.

Tracking Expenses and Revenue Streams

Keep track of all expenses related to your business operations and monitor revenue streams regularly to ensure financial stability. Implementing accounting software can streamline this process and provide valuable insights for business growth.

• Regularly review and adjust your pricing strategy based on financial performance.
• Consider offering package deals or discounts to attract new clients while maintaining profitability.

Executing Successful Events

When it comes to how to start your own event planning company , executing successful events is crucial. Utilize the latest trends and strategies to ensure your events stand out in the competitive market.

Utilize Digital Marketing Tactics

Embrace social media platforms to promote your events effectively. Engage with your audience through creative campaigns and interactive content to generate buzz.

Implement SEO strategies in your event promotion to reach a wider audience organically.

Enhance Attendee Experience

Focus on creating memorable experiences for attendees through personalized touches and innovative concepts.

• Offer customized event services tailored to your clients’ needs.
• Provide unique entertainment options to keep attendees engaged.

Continuous Learning and Growth in the Industry

Continuous learning is crucial in the event planning industry to stay updated with the latest trends and technologies. Industry knowledge is key to providing top-notch services to clients and staying ahead of the competition.

Importance of Professional Development

Engaging in workshops, seminars, and online courses can enhance skill sets and broaden industry knowledge. Continuous learning ensures you are equipped to handle various event scenarios efficiently.

Networking and Collaboration

Building a strong network within the industry can lead to collaborations and partnerships. Networking fosters growth opportunities and opens doors to new clients and projects.

• Attend industry events
• Join event planning associations
• Participate in online forums

Frequently Asked Questions

• What are the first steps to launching my own event planning company?
• The first steps to launching your own event planning company include conducting market research, creating a business plan, identifying your target market, and registering your business.
• Do I need any specific qualifications to start an event planning company?
• While formal qualifications are not always required, having experience in event planning, hospitality, marketing, or a related field can be beneficial. Additionally, certifications or courses in event planning can help you build skills in the industry.
• How can I attract clients to my event planning company?
• You can attract clients to your event planning company by networking, offering competitive pricing, showcasing your portfolio, providing excellent customer service, and leveraging social media and other marketing strategies.
• What are some key components of a successful event planning company?
• Key components of a successful event planning company include attention to detail, strong organizational skills, creativity, effective communication, problem-solving abilities, and the ability to work well under pressure.
• How can I stand out in the competitive event planning industry?
• To stand out in the competitive event planning industry, differentiate your services by offering unique event experiences, specializing in a niche market, providing exceptional customer service, staying updated on industry trends, and building strong relationships with clients and vendors.

Final Thoughts: Launching Your Own Event Planning Company

Starting your own event planning company can be an exciting and rewarding venture. By following the step-by-step guide provided in this blog, you’ll be well-equipped to turn your passion for events into a successful business. Remember to conduct thorough market research, create a solid business plan, build a strong network of vendors, and always prioritize excellent customer service.

As you embark on this entrepreneurial journey, stay organized, stay creative, and stay dedicated to providing unforgettable experiences for your clients. With persistence and hard work, you can establish a reputable event planning company that stands out in the industry.

So, go ahead and take that first step towards realizing your dream of owning and operating your very own event planning company. The possibilities are endless, and success awaits!

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Event Planning Business Plan Template [Updated 2024]

Event Planning Business Plan Template

If you want to start an Event Planning business or expand your current Event Planning or Event Management business, you need a business plan.

The following Event Planning business plan template gives you the key elements to include in a winning event planner business plan or event management business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a free Event Planning business plan template:

Event Business Plan Template I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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Event Planning Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

How to Write an Event Organiser Business Plan (With Examples)

If you’re looking to turn your event into a viable and profitable enterprise, you’ll need to devise a solid business plan. Whether your aim is making more money, securing investment and partners, or simply keeping up with your commercial goals, an event business plan is the launchpad of a successful business.

A well-written plan can be an invaluable resource for you, your team , and your event – but writing one need not be difficult. Our systematic and straightforward event business plan step-by-step guide will show you how to create one, while providing you with useful examples for budgeting and promotion that you can adapt for your particular market.

How do you write a business plan as an event planner?

From coming up with your blue-sky mission statement to the nitty-gritty details of hosting your event, there are several steps to creating a great event business plan. Read on to get our in-depth tips and examples and to find out exactly what should go into your plan.

In this article, our tips for writing an event business plan are broken down into eight sections. We’ll show you how to:

• Begin your event business plan with a mission statement
• Describe your greater vision with a vision statement
• List the key objectives you want to track
• Enhance your event business plan with storytelling
• Detail an event marketing strategy
• Outline your event’s operational requirements
• Crunch the numbers for your event budget
• Nail SWOT analysis with this business plan event example

1. Begin your event business plan with a mission statement

Your mission statement describes your event in a short sentence or two. It helps to sell your event to important stakeholders and forms the foundation of your marketing. In fact, it’ll also help to keep you focused since every decision you make will ultimately trace back to your mission.

Mercato Metropolitano (MM), a sprawling community market and event space with good food at its core, is just one example of how a simple mission statement turned into a successful real-life venture.

Andrea Rasca of MM has a simple philosophy based on food being a human right that’s part of an adequate standard of living according to the 1948 Universal Declaration of Human Rights. It sums up how MM operates as well as what it stands for:

“Adequate means food needs to be accessible to all people, at all times, and in any circumstances. It has to be nutritious – to enrich you – and it has to be locally or culturally compatible.”

This high-level mission statement sells the spirit of MM succinctly. Make yours equally inspiring, and keep it as short as possible to make it easy to keep your mission in mind. The Waste Not Supper Club , for example, summed up their mission statement – “Waste Not” – in just two words and integrated it into the name of their event.

Following a UN report urging a move to more sustainable diets, the Umbrella Cafe in Kent started running the Waste Not Supper Club to use up not only their leftover food but other people’s as well. Guests receive a three-course vegan or vegetarian evening meal at a pay-as-you-feel price. All the dishes are made from unwanted ingredients sourced by FareShare Kent , an organisation that teams up with supermarkets and local farmers to make use of their “wonky” veg and overstocked food.

2. Describe your greater vision with a vision statement

While a mission statement says what your event is about, a vision statement describes what you hope your event brand will become . It could also be known as your Big, Hairy, Audacious Goal (your BHAG ).

The Susan G. Komen Foundation uses the mission statement “Save lives by meeting the most critical needs in our communities and investing in breakthrough research to prevent and cure breast cancer.”

But the foundation’s vision is even more aspirational:

A world without breast cancer.

What’s your blue-sky vision? You might not cure cancer, but perhaps you want to eventually turn your foodie pop-up into a nationwide series of “locavore” festivals. Perhaps you want to introduce attendees to a new style of dance? Or bring art into the homes of the nation?

Brevity and clarity are also key in this section of your business plan, so you should be able to sum up your vision statement in one short sentence. For example, a lot of businesses these days want their activities to produce no carbon emissions whatsoever, so they might use a vision statement like “net-zero by 2050”.

A good way to come up with your vision statement is to ask yourself what effect you eventually want your event to have more widely. Be as imaginative as you can and also think about why you created your event in the first place. This will help you to produce evocative language, which will have a greater effect on your audience.

3. List the key objectives you want to track

Your key objectives convert your mission statement into on-the-ground action. They are realistic goals that you can achieve in the short term and in the future. Examples might include:

• Gaining a set number of followers on social media
• Expanding your event to a different area
• Pinning down a special guest to make an appearance
• Selling a certain amount of tickets for each event

Make a list of the key tasks and deliverables integral to your event. In the foodie pop-up example above, a few key objectives might be to:

• Host three foodie pop-ups in your local area this year
• Find at least ten sponsors
• – local food purveyors or restaurants
• Acquire 10,000 followers on Instagram

Make your objectives aspirational but achievable – and definitely measurable . Make records of where you currently are in regard to achieving these goals and attach metrics to each one. Eventbrite offers useful analytic data, which can be used to help you track your return on investment (ROI) and more.

4. Enhance your event business plan with storytelling

Here’s the heart of your business plan: a tangible description of your event. This is important because not only does it tell potential investors what they’re being asked to buy into but it’s also often the first (and only) chance you’ll get to grab a potential attendee’s attention online.

The key here is to provide a text that’s as informative as it is readable. Strike a balance between providing the reader with all the essential details they need, without overwhelming them with information.

Define what makes your event unique and sell your audience on your vision with data that grounds it in reality. For example, if you’ve had a high demand for tickets in the past, let the reader know how many tickets you’ve sold for your events to date.

Craft a succinct event story with our event business plan checklist:

• Describe your target audience, with research into the market
• List potential or actual sponsors, investors, and partners who will support and influence your event
• Lay out the team structure you intend to build – who will get what done?

Your job here is to convince the reader that your event will be successful. Give proof that you can back up your ideas with business acumen.

5. Detail an event marketing strategy

Word of mouth is a timeless marketing channel, but most events don’t sell themselves right away. You’ve already described your mission, your vision, and the event itself, so now you can use this content in your marketing strategy and include additional information:

How will you price your event?

Will you use a flat rate or provide an early bird option at a discount? While the latter might prove a great idea for festivals and conferences, recurring events like workshops would benefit from a different marketing approach. For example, consider providing tiered ticketing options for regular events, giving guests a choice of a standard or VIP ticket with added extras. This can create a buzz of prestige around your event.

What’s your promotion budget?

Knowing what resources you have is integral to marketing your event effectively and securing a good ROI.

Which marketing channels will you use?

Your target audience will determine the direction of your marketing channels. This includes which social media platform you choose to market your event on. For example, if your arts event caters to twenty-somethings, the highly visual environment that Instagram provides will often be a better marketing match than LinkedIn , which is more suited for specialist industry lectures and business networking events.

Making the right choice of channel means that half your work is done because your event will get more exposure to people who are already interested in your sector, generating a higher lead-to-conversion rate.

6. Outline your event’s operational requirements

There are countless logistics that go into even the smallest event. Break your needs into categories: facilities, services, staffing , production, technology, legal, and insurance – just as a starting point!

Then start to anticipate what the real implications are for your event with reference to each of these categories. Depending on your specific event, facilities might include setting up a cloakroom or the hire of portaloos, shower cubicles, or charging points. Services might include anything from catering, rubbish disposal, cleaning, or the cost of basic utilities if they aren’t included in the venue hire. Production might cover contracting performers, printing tickets or wristbands, and transport of sound equipment.

Don’t leave anything out. This exercise will help you with the next step – assigning a cost to each aspect of your event.

7. Crunch the numbers for your event budget

Financial forecasts are essential to showing whether the event will be profitable – and to making your plan a business plan. It’s common to include both an overview of your numbers as well as a full budget spreadsheet, usually as part of an appendix.

Identify all potential income streams, like ticket sales , exhibition space sales, food, or merchandise. If you have funding secured or capital saved, include that as well.

You’ll also need to tally all expenditures , including your operational and promotional costs. These might include venue and equipment hire, paying staff working at the event, and the cost of targeted ads.

Your business plan might serve as a way to win over potential investors. For instance, if your idea for a national yoga teachers’ conference will require an initial cash infusion to get it off the ground, show how it will pay for itself in a matter of years in your budget. You should go into detail about cover prices, including any deals you’ve been able to get with suppliers or the venue.

Make sure to illustrate your event’s projected earnings in a simple graph, such as a bar or pie chart. This is an effective and simple of way communicating how you’re making your budget work for you.

8. Conduct a SWOT analysis for your event

SWOT stands for strengths, weaknesses, opportunities, and threats. This assessment is important because every event carries inherent risks, and it’s a liability to ignore them. You’ll want to identify and acknowledge any risks, and then provide solutions. Let’s take a look at this concept using the example of a fundraising triathlon.

You’ve sold many tickets so far.

You’ve planned the event for the mildest time of year.

You’ve got catastrophe insurance.

There’s high competition from other similar events.

Opportunities

Extra funds can be raised with a cold drinks stall.

The triathlon may need to be called off in the event of bad weather, e.g. a thunderstorm.

Event business plan FAQs

How do i start an event organising business.

You could start by writing an event management business plan. See the above section, “Outline your event’s operational requirements,” to get an idea of what managing an event involves.

What is a business plan in event management?

A business plan is where you convince investors that your idea for turning your event into a business is not only viable but profitable. This will include presenting the necessary figures detailing why your business will offer a good ROI. Check out the sections “Enhance your event business plan with storytelling” and “Crunch the numbers for your event budget” for more tips on how to write an event planning business plan.

How do you write a business plan for an event?

The above steps in this article explain how, but try looking for an event business plan example online if you’d like to see how it’s done.

What is an event planning proposal?

A proposal is a resumé of how you plan to execute your event, written with key stakeholders as the audience.

Set your event business plan in motion

To dive deep into the details of creating an event business plan, and to learn how to compile these sections into an effective document, download our free Event Plan Template .

Plan and host your events with Eventbrite.

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about the author

Hannah Phelvin-Hartley

Hannah Phelvin-Hartley specialises in producing content for the lifestyle, education, engineering and automotive, politics, human rights and legal sectors. She can translate from Italian, Spanish and French into English. In her free time, Hannah can usually be found cooking, reading, practising Yoga and dancing.

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Event Planning Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Entertainment Industry » Event Planning

Are you about starting an event management business ? If YES, here is a complete sample event planning business plan template & feasibility report you can use for FREE .

One good thing about event planning is that most often than not, events are done during weekends and if you are lucky not to be working during weekends, you can successfully test run an event planning business. The truth is that, most of the basic skills needed to effectively run an event planning business are some of the soft skills you are likely going to acquire in your workplace.

On the average, it is the practice for most standard event planning companies to handle all aspect of event planning that ranges from wedding planning, to annual general meetings (AGM), to corporate events, to end of year parties et al. This is so because there are little or no difference with the planning and execution of events. However, you can decide to build your event planning company around an area of specialization in the industry.

What It Takes to Start an Event Management Business?

As a professional event planner, you would have been trained on how to engage your clients in such a way that they should be able to answer any question you may ask them regarding the event or any related topic that will help you deliver a fantastic event.

Over and above, the service delivery for an event planner covers budgeting, scheduling, venue selection, acquiring necessary permits, coordinating transportation and parking, arranging for keynote speakers, motivational speakers, master of ceremony (MC) or entertainers, arranging decor, event security, catering and emergency plans .

The hallmark of an event is when the success benchmarks are meet or even surpassed. So part of what you need to ask your client as a professional event planner is to know key measurable areas where they would want the event to be assessed.

It could be the numbers of participants that attended the event, the feedbacks they got from the event and it could be any success indicator as agreed by the organizers of the event.

A Sample Event Planning Business Plan Template

1. industry overview.

Event planning is all about helping corporate organizations, government, groups and individual plan and execute their events from start to finish. An event planner ensures that they work with the stipulated budget of the organization or individual and ensure that they deliver a successful event as agreed.

In some cases, it is the responsibility of the event planner to draw – up a budget for the organizer of the event once they get a brief of the nature of the event. Events planning require that you take off the burden of planning an event from the shoulders of your clients. This is whether it is a corporate or informal event.

Therefore, you would need an eye for details in addition to the eye you have got. Confused? Do not be, that was on a lighter note. Now, the truth is that you would need to be extremely detailed. You do not want to come across your clients as one who leaves some kills important details out. If you do not possess this skill now, you may consider building it up.

The key to a successful event is to ensure that all that is listed in your event planning checklists is ticked. As a matter of fact, if you undergo event planning training, you are going to be taught how to draft event planning checklists for various events and key components that must be listed in your checklists.

The event planning is such an industry that needs you to be vast and well informed about news about the industry. What does this mean?

This means that you have got to be alert about everything as it concerns events planning all around the globe. You may consider reading up a whole lot- do not be far away from information. You can successfully pull off being a researcher off by reading books on this business, as using the internet.

According to Inside Business, the event planning industry is expected to grow to 20% with the median income of an event planning being $42,180 a year.

This industry is expected to grow to over 60,000 jobs. Statistics has it that the top 5 highest paying location in the united states for event planners and their average annual earnings are; Virginia – $54,770, New York – $57,300, New Jersey – $57,730, Massachusetts – $58,860, Washington DC – $67,120.

So also the top 5 states in the United States with the highest numbers of employment for event planners are; California with 7,730 event planners are employed, New York – 7, 250, event planners are employed, Texas – 6,320,event planners are employed, Florida – 3,560, event planners are employed, Virginia – 3,500 event planners are employed.

No doubt the event planning / management industry cannot be said to be over saturated despite the fact that the entry bar for starting an event planning business is pretty low. As an event planner, if you are creative and hardworking, you can successfully create your own steady market. It is safe to say the industry is still growing especially with the advent of new social media platforms.

For example in recent times, a world class event planning / management company in city in the United States of America can successfully organize an event with active participants from all over the globe participating in the event without living their country. This is possible with the aid of teleconference, and Skype et al.

Some of the factors that encourages entrepreneurs to start their own event planning business could be that the business is easy to set up, the start – capital is indeed affordable and the running cost can be put at the minimum level; you can actually start your own event planning business from the comfort of your home. All you need to do is to create an office somewhere in your house.

Lastly, event planning / management business is not restricted to just organizing conferences, corporate events or parties, but also organizing big international events such as Olympic and United Nations Events.

2. Executive Summary

Tony & Tammy House of Events LLC is an all – round event planning company that will be based in Las Vegas – Nevada.

The company will handle all aspect of event planning such as wedding planning, children’s party, sports tournaments / competitions, annual general meetings (AGM), to corporate events, trade fairs and exhibitions, end of year party, party rental services, event planning trainings and event planning consulting and advisory services et al.

We are aware that to run an all – round event planning outfit can be demanding which is why we are well trained and equipped to perform excellently well. Tony & Tammy House of Events, LLC is a client-focused and result driven event planning outfit that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients.

We will offer a standard and professional event planning services to all to our individual clients, and corporate clients at local, state, national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they contract their events to our organization.

At Tony & Tammy House of Events, LLC, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in a wide variety of event planning et al.

Tony & Tammy House of Events, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Our plan is to position the business to become the leading brand in the event planning line of business in the whole of Nevada, and also to be amongst the top 20 event planning outfits in the United States of America within the first 10 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Las Vegas is the right place to launch our event planning business before spreading to other parts of The United States.

Tony & Tammy House of Events, LLC is founded by Mr. Tony Angelo and his wife Tammy Angelo. The organization will be managed by both of them since they both have tangible experience working at various capacities within the entertainment and event planning industry in the United States.

As a matter of fact, Mr. Tony Angelo who is the Chief Executive Officer of the organization was part of the team that organized Atlanta 96® Olympics and the wife in time past has worked with the team responsible for organizing Grammy Awards.

Mr. Tony Angelo graduated from both University of California – Berkley (First Degree), and University of Harvard (MSc.).

3. Our Products and Services

Tony & Tammy House of Events, LLC is going to offer varieties of services within the scope of the event planning and entertainment industry in the United States of America. Our intention of starting our event planning outfit is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.

Our business offering is listed below;

• Wedding Planning
• Corporate Event Planning
• Outdoor Party Planning
• Annual General Meetings
• Sports Tournaments / Competitions Planning
• Children’s Party and Birthdays Party Planning
• Party Rental Services
• Event Planning Trainings (Training School)
• Event Planning Consulting and Advisory Services

4. Our Mission and Vision Statement

• Our vision is to build an event planning brand that will become the number one choice for both individual clients and corporate clients in the whole of Las Vegas – Nevada.
• Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to provide professional and trusted event planning services that assist individuals, businesses and non-profit organizations in organizing all of their events.
• We are to position the business to become the leading brand in the event planning line of business in the whole of Nevada, and also to be amongst the top 20 event planning outfits in the United States of America within the first 10 years of operations.

Our Business Structure

Tony & Tammy House of Events, LLC will build a solid business structure that can support the growth of our business. We will ensure that we hire competent hands to help us build the business of our dream. The fact that we want to become one of the leading event planning outfits in the United States makes it highly necessary to deliberately build a well – structured business from the onset.

Below is the business structure that we will build Tony & Tammy House of Events, LLC on;

• Chief Executive Officer

Event Planning Consultant

Event Planning Training and Development Consultant

• Wedding Planning Consultant

Admin and HR Manager

• Business Developer

Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office:

• Responsible for providing direction for the firm
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for handling high profile clients and deals
• Responsible for fixing prices and signing business deals
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board
• Responsible for interviewing and hiring vendors, selecting and ordering materials, negotiating rates, coordinating the sequence of events, following up with guests and vendors and producing full-scale events.
• Plans, designs and produces events while managing all project delivery elements within time limits
• Liaises with clients to identify their needs and to ensure customer satisfaction
• Conducts market research, gather information and negotiate contracts prior to closing any deals
• Provides feedback and periodic reports to stakeholders
• Proposes ideas to improve provided services and event quality
• Organizes facilities and manage all event’s details such as decor, catering, entertainment, transportation, location, invitee list, special guests, equipment, promotional material etc
• Ensures compliance with insurance, legal, health and safety obligations
• Specifies staff requirements and coordinate their activities
• Cooperates with marketing and PR to promote and publicize event
• Proactively handle any arising issues and troubleshoot any emerging problems on the event day
• Conducts pre- and post – event evaluations and report on outcomes
• Researches market, identify event opportunities and generate interest
• Manages the organization’s event planning training school
• Coordinates training programs facilitated by Tony & Tammy House of Events, LLC
• Writs winning proposal documents, negotiate fees and rates in line with company policy
• Identifies training and development needs for staff through job analysis, appraisals and consultation
• Facilitates and coordinate strategic sessions.
• Works directly with clients in a non-advising capacity, such as answering questions, scheduling appointments and making sure all training concerns are properly taken care off
• Responsible for handling all trainings both internal and external trainings

Wedding Planner / Consultant

• Assists the bride and groom with everything from a timeline and budget to the choice of flowers, wedding location, musicians, caterers, and the choice of the groom’s tuxedo.
• Responsible for making sure that all the details of the big day play out smoothly as planned
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Design job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily office activities.

Marketing Executive

• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with company policy
• Responsible for handling business research, marker surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps increase sales and growth for the company
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Client Service Executive

• Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
• Receives Visitors / clients on behalf of the organization
• Receives parcels / documents for the company
• Handles enquiries via e-mail and phone calls for the organization
• Distributes mails in the organization
• Handles any other duties as assigned my the line manager

6. SWOT Analysis

Tony & Tammy House of Events, LLC engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a well – structured event planning outfit that can favorably compete in the highly competitive event planning and entertainment industry.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Tony & Tammy House of Events, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Tony & Tammy House of Events, LLC;

Our core strength lies in the power of our team; our workforce. We have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.

As a new event planning outfit, it might take some time for our organization to break into the market and gain acceptance in the already saturated event planning and entertainment industry; that is perhaps our major weakness.

• Opportunities:

The opportunities in the event planning and entertainment industry is massive considering the number of weddings, parties and other events that takes places on a daily basis in the United States. As an all – round event planning outfit, we are ready to take advantage of any opportunity that comes our way.

Some of the threats that we are likely going to face as an event planning outfit operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing power. There is hardly anything we can do as regards this threat other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The event planning and entertainment industry is in a continuous state of evolution and as such, ground breaking strategies and ideas that are once highly successful are no longer as productive as they were in time past. Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools.

The trend also extends to increased attention, paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning events, and of course increase in demands from event sponsors.

As a matter of fact, social media has now become one of the most important tools event planners leverage on to disseminate information about their events, interact with attendees, solicit feedback, and create year-round engagement with their target audience.

Furthermore, new software apps and emerging technology have made it easier for event and wedding planners to gather all the needed data and information that will help them plan and project for the future.

In recent time, mobile event apps are becoming more popular; event planner can now successfully host events via social media platforms / online platforms. In the United States for example, there several vendors providing mobile apps with more event planners patronizing the apps.

Over and above, with the invention of event apps, it is now compulsory for event planners and venue owners to offer Wi-Fi throughout the event, in all meeting rooms. The truth is that it will no longer be acceptable to not have Wi-Fi accessible at events; people will hardly rent halls without Wi-Fi facility.

8. Our Target Market

Although Tony & Tammy House of Events, LLC will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to be able to compete with the leading event planning and management companies in the United States.

As an all – round event planning / management outfits, Tony & Tammy House of Events, LLC offers a wide range of services hence we are well trained and equipped to services a wide range of clientele base. Our target market cuts across people of different class and people from all walks of life, local and international organizations as well.

We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses. Below is a list of the people and organizations that we have specifically design our products and services for;

• Potential Couples / Young Adults
• Blue Chips Companies
• Corporate Organizations
• Religious Organizations
• Political Parties / Politicians
• Households / Families
• The Government (Public Sector)
• Schools (High Schools, Colleges and Universities)
• Sport Organizations
• Entrepreneurs and Start – Ups

Our competitive advantage

We are quite aware that to be highly competitive in the event planning and entertainment industry means that you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference cum improvement and you should be able to meet the expectations of both participants and organizers of events.

Tony & Tammy House of Events, LLC might be a new entrant into the event planning and entertainment industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified event planners / managers and wedding planners in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups event planning and event management companies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Tony & Tammy House of Events, LLC is established with the aim of maximizing profits in the event planning and entertainment industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients.

Tony & Tammy House of Events, LLC will generate income by offering the following event planning / management services for individuals and for corporate organizations;

10. Sales Forecast

One thing is certain, there would always be parties and events in the United States of America and as such the services of event planning / event management companies will always be needed.

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Las Vegas to other cities in Nevada and other states in the U.S.

We have been able to critically examine the event planning and entertainment market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Las Vegas – Nevada.

Below is the sales projection for Tony & Tammy House of Events, LLC, it is based on the location of our business consulting firm and the wide range of consulting services that we will be offering;

• First Year-: $150,000
• Second Year-: $650,000
• Third Year-: $1,000,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiffer competition amongst event planning companies in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing. Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.

We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard event planning business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our event planning company to become one of the top 20 event planning companies in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Las Vegas but also in other cities in the United States of America.

Tony & Tammy House of Events, LLC is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our business by sending introductory letters alongside our brochure to corporate organizations, schools, households and key stake holders in Las Vegas and other cities in Nevada.
• Promptness in bidding for event planning / event management contracts from the government and other cooperate organizations
• Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
• List our business on yellow pages ads (local directories)
• Attend relevant international and local expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets and still deliver quality event planning services to them
• Leverage on the internet to promote our business
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the event planning and entertainment industry by storm which is why we have made provisions for effective publicity and advertisement of our event planning outfit.

Below are the platforms we intend to leverage on to promote and advertise Tony & Tammy House of Events, LLC;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
• Install our Bill Boards on strategic locations all around Las Vegas – Nevada.
• Engage in road show from time to time
• Distribute our fliers and handbills in target areas
• Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

12. Our Pricing Strategy

Just like in consulting business, hourly billing for event planning / event management services is also a long – time tradition in the industry. However, for some types of event planning / management services, flat fees make more sense because they allow clients to better predict the overall service charges. As a result of this, Tony & Tammy House of Events, LLC will charge our clients both flat fee and hourly billing as long as it favors both parties.

At Tony & Tammy House of Events, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises.

We are aware that there are some clients that would need regular access to event planning consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

• Payment Options

At Tony & Tammy House of Events, LLC, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

13. Startup Expenditure (Budget)

Starting an event planning business can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment.

Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount to purchase the required software applications, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.

When it comes to starting a small scale event planning / event management company, the following expenditure should guide you;

• The Total Fee for incorporating the Business – $750.
• The budget for basic insurance policy covers, permits and business license – $2,500
• The Amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000.
• The Cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $ 5,000
• The Cost of Launching your official Website – $600
• Budget for paying at least one employees for 3 months plus utility bills – $10,000
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
• Miscellaneous: $1,000

Going by the report from the market research and feasibility studies conducted, we will need over two hundred and fifty thousand (250,000) U.S. dollars to successfully set – up a medium scale but standard event planning business firm in the United States of America.

Generating Funding / Startup Capital for Tony & Tammy House of Events, LLC

Tony & Tammy House of Events, LLC is a family business that will be owned by Mr. Tony Angelo and his wife Tammy Angelo. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is easier for businesses to survive when they have steady flow of business deals / customers patronizing their products and services. We are aware of this which is why we have decided to offer a wide range of event planning and other related services to both individual and corporate clients.

We know that if we continue to deliver excellent event planning services, there will be steady flow of income for the organization. Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members.

In the nearest future, we will explore the options of either selling out franchise or expanding our scope beyond Las Vegas – Nevada to other major cities in the United States of America. We know that if we implement our business strategies, we will achieve our business goals and objectives in record time, as well as become a household name .

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the start – up capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in the industry: In Progress

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How to Write an Event Planning Business Plan

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Event planners know how important organizational skills are in planning and executing a successful event. But as an event planning business , you may be overlooking the importance of having a business plan that keeps you organized and on track in the big picture operation of your business.

What an Event Planning Business Plan Is

An event planning business plan is a document that outlines the major aspects of your business. It articulates what the business is, its objective, how it operates, the structure and other important elements.

The Need for a Business Plan

Perhaps you are just starting your event planning business and because it is so new, you then wonder if you should devote time to developing a plan. Or, you may have been operating your solo operation from your dining room table for the past several months, and everything seems to be running along just fine.

Either way, a business plan is an important component of your business. Just as you have an event planning checklist to spell out the goal of an event, the budget, the target audience and other such factors.

What to Include in Your Event Planning Business Plan

A business plan will put your objectives in writing and keep you focused on the long-term goals of your event planning business, so note the plan in as much detail as possible to ensure that when you go to actually start your business, you have already ironed out potential setbacks in the planning stage. Use your event planning business plan to keep you on track. Reevaluate your business plan every three months and determine if you need to modify anything to reflect changes in your event planning business.

• Description: The first aspect of your business plan is a description of who you are or what you want your business to be. This can be as simple as just a few sentences. For example, “ABC Event Planning is a full-service event planning business…” or “ABC Event Planning specializes in planning weddings…”.
• Objective: What is your business objective? What are the goals of your business? Are you aiming to be the top event planner in your town or do you have your sights on a loftier goal?
• Structure: How is your business structured? Are you the sole operator or do you have partners or support staff? If you have employees, outline their job responsibilities.
• Products and Services: What product or service does your business offer? Include everything from negotiating hotel contracts to hiring vendors and providing on-site staffing. 
• Target Market: Who are your potential clients?  What segment does your event planning business want to attract? Identify the people who would be interested in your services.
• Marketing: How will you market your business to attract customers? Do you have plans for a website? Will you utilize social media? Attend local business events? 
• Finances: How will you handle any upfront costs of conducting your business? How will billing and payment be processed?

What to Do Once the Plan Is Written 

Do not write out a business plan, check it off your to-do list and tuck it into a drawer. This business plan is the roadmap for your event planning business. Keep it front and center so that you never lose sight of why you started this business, what it is about, where you want to go and how you plan to get there.

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The 2024 Event Planning Guide: 20 Essential Steps

Master event planning with our 2024 guide, which provides a blueprint for producing successful events. explore why meticulous planning is crucial for your event..

Roughly 87% of marketers consider event marketing an effective way to create value. Unfortunately, your team can’t simply envision an event and show up, the day of, to a completed product. A lot of time and effort goes into creating a seamless, professional, and engaging event.

If your company plans to use event marketing, you must be prepared for that level of commitment and management. A poorly planned event will do more harm to your brand than good.

That’s why we’ve provided this comprehensive event planning guide. In it, you’ll learn everything you need to take an event from inception to glorious realization.

What is event planning?

Event planning encompasses the many hours of work that go into creating a memorable, effective event. Planning a budget, attracting attendees, and putting out fires the day of are all important tasks for an event planning team.

With so much responsibility, it’s easy to get distracted. Your team needs to have a clear plan in place and steps to follow to ensure nothing falls through the cracks.

Why does event planning matter?

Events play a crucial role in your brand image. Whether an event is the first time a potential customer interacts with your brand or is an exclusive meet-up of your most loyal customers, it will stand out in their minds as a representation of your company as a whole.

When you plan an event well, it will ensure that the image is of a professional, engaging, and highly effective business. These events can be vital in building up customer loyalty, generating leads, and establishing your company as an industry leader.

20 essential event planning steps

Let’s break down the steps you and your team need to take to plan and execute the perfect event. These steps are split up into sections, so you know which can be taken concurrently. The most important thing to keep in mind is that your event is unique and may require more or fewer steps.

Event concept and goal setting

 step one: define the purpose of the event.

Because an event is such an open-ended concept, it’s important to narrow your scope before getting far into the planning process. Think about the main objective you’re trying to achieve. Are you focused on:

• Launching a product
• Raising funds
• Generating leads
• Becoming an industry thought leader
• Rewarding customer loyalty

These are all diverse objectives that require drastically different styles of events.

Step two: identify your target audience

The people you want at your event will make a huge impact on the tone and promotion. For example, industry professionals will be drawn in by networking opportunities and sessions with well-known experts. The general public will want something a little more novel and fun to get them through the doors.

Step three: theme development

A great event theme will tell folks everything they need to know before they register for your event. This theme will help you make decisions about location, decor, speakers, promotion, and more.  Choose something that will appeal to your target audience and support your overall objective.

Step four: set goals and KPIs

Defining what success looks like for your event will keep you on track throughout the planning process. Try to choose a “ SMART ” goal that is specific, measurable, achievable, relevant, and time bound.

Some potential KPIs to track your event’s success include:

• Attendance numbers
• Registration vs. actual
• Demographics
• Cost per lead
• Social media mentions
• Lead generation

Every time you need to make a tough decision surrounding your event, ask yourself if it supports the goals and metrics you’re working toward.

Initial planning and feasibility

Step five: budget creation.

Event budgets are usually split into a few simple categories:

• Event platform
• Venue and vendor fees
• Marketing and promotion costs
• Food and beverage expenses
• Audio/visual and technology
• Decor and miscellaneous

Allocating your budget in advance will help you make smarter decisions as opportunities come your way. It will also keep you from falling into the trap of overspending with impulse decisions.

Step six: timeline development

Determine a timeline for when you need to have specific tasks completed. Include every important detail on your checklist , and assign specific people to head up each task. Don’t forget to include check-ins in your schedule so you can flag any issues early and keep the process moving along.

Step seven: vendor identification and contracting

Whether it’s booking a caterer, security, or entertainment, choosing the right vendors is crucial to the success of your event. Research and compare different options and be sure to read reviews and ask for references from past clients. Once you’ve decided on a vendor, make sure to have a detailed contract in place to protect both parties.

Step eight: securing a venue

Before you lock in a venue, think about what experience you’re trying to create. Is it an interactive, casual affair? Find an airy loft or outdoor space. If it’s a professional development or industry event, consider hosting it in a conference center or hotel.

Make sure that you go into venue consultations with a list of non-negotiables so that you don’t end up with a space that hinders your event’s growth.

Step nine: choose an event platform

The digital event platform you choose for a hybrid or online event is just as important as the physical venue. Choose something that can operate as an all-in-one platform to keep confusion to a minimum. Make sure it can be fully customized to fit your brand, and that it’s easy for attendees to navigate.

Step ten: permits and licenses

Obtain any legal requirements early so you have time to iron out issues before they become catastrophic. Look into insurance, and ensure the venue is prepared for the number of people you’re expecting.

Program and content development

Step eleven: agenda creation.

Develop a detailed agenda with session times, speakers, and activities. You might consider planning different streams so that attendees know which events are most relevant to them. Don’t forget to put in ample time to rest, visit vendors, and network.

Step twelve: speaker coordination

Speakers will likely be a huge draw for your event attendees, so take your time to find ones that fit. This could be a combination of industry experts, influencers, and members of your team. Consider an inspirational speaker or two to round out the event.

Attendee engagement and communication

Step thirteen: promote your event.

Don’t wait until the last minute to start promoting your event. Use a variety of channels such as social media, email marketing , and word of mouth to reach your target audience. Make sure to highlight the unique features and benefits of your event and leverage any partnerships or sponsorships to expand your reach.

Step fourteen: manage registrations

As folks register for your event, you’ll be dealing with a lot of valuable and important data. It’s important you have a system in place that integrates with your event platform, CRM, and overall tech stack.

Upon registering, folks should be entered into your database for communication and follow-up. You can send them reminders, updates, and essential information.

Technical planning

Step fifteen: audio-visual setup.

Coordinate with your AV teams for microphones, projectors, screens, and live streaming in advance of the event. You should have at minimum a full day in the space to set up these tech requirements and run tests. Technical difficulties can make your event feel unprofessional.

You’ll also need to ensure the internet connection is robust enough to handle the traffic and streaming requirements. A hybrid event can be destroyed by loss of connection.

Step sixteen: setup and rehearsals

Oversee the setup of the venue, including vendors, refreshments, and decor. Imagine yourself walking through the space as an attendee and clock any potential hang-ups. Rehearse any presentations or challenging transitions to ensure a smooth track through the day.

Step seventeen: create emergency plans

Contingency plans for technical failures, scheduling mistakes, and other mishaps are vital. In an emergency or failure, your team and attendees will turn to you to keep a level head and solve the problem as quickly as possible. It is always better to be over-prepared than under.

The day of the event

Step eighteen: tracking and monitoring.

Be available on-site to monitor the event flow and deal with any challenges as they arise. Connect with attendees and do everything you can to give them a great experience. Conduct surveys, take polls, and track engagement metrics to collect data that will be vital later.

Step nineteen: capturing content

Record sessions, take photos, and manage your live streaming as you go. Any content you collect throughout the day can be used to boost social media engagement, promote future events, and more.

Post-event wrap-up

Step twenty: follow up with attendees.

Don’t let all your hard work go to waste. Reconnect with event attendees with thank-you emails, surveys, and other post-event communication. This is not only a great way to show appreciation and gather feedback, but it also keeps your brand top-of-mind for potential future events. If anyone seems like a promising lead, be sure to move them along your sales pipeline accordingly.

How do you plan an event on a tight budget?

The most important thing to remember when planning an event on a budget is to focus on a singular goal. The more complicated your desired outcome is, the more you will spend on additional things.

If your event goal is to launch a new product , you probably don’t need to fill up the evening with multiple high-profile speakers. While this expense might bring in more attendees or help give your company prestige, it is not the main focus. Instead, you might invest that money in making the product demonstration truly impressive.

How do you properly track event registrations?

Keeping track of event registrations is a vital component in your event planning because it helps you ensure you have the infrastructure for the number of people attending. It also allows you to collect valuable data from your attendees.

Because of its import, the best way to track registrations is with a dedicated events platform. This software has been designed specifically to manage events and will give you complete control over registration data as it comes in.

What should be included in a post-event survey?

Several potential questions can be asked in a post-event survey, including:

• Overall satisfaction
• Likelihood of returning
• If they would recommend the event
• If the information was useful

However, you will only have your audience’s attention for a short time, so choose the questions that will best support your event goal, and help you improve future events.

Meet Kaltura – the #1 virtual events platform

When you’re juggling all that goes into event planning, you need to have tools you can trust and fall back on. Kaltura is the best virtual events platform for keeping every single ball in the air.

Kaltura offers an all-in-one suite of features that keeps all your information in one place. From event registration to live streaming to audience engagement and beyond, this software has everything covered. With Kaltura in your corner, you can focus on planning an event that is memorable for all the right reasons.

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How to Plan an Event: Event Planning Steps, Tips & Checklist

Need to know how to plan an event? If you’re planning a big event like a conference, we can help you successfully create, structure and lay out your event plan. This blog will cover everything you need to consider when planning an event, including event planning steps, tips and an easy-to-use event checklist.

What Is Event Planning?

Event planning is the process of putting on and managing a variety of events, from something as small as a meeting to as big as a convention and everything in between. When event planning you’ll be taking into account every aspect of that event, whether it’s a birthday party or a networking event.

That means you’ll be estimating budgets, creating timelines to schedule the event, reserving the site and any panels or speakers involved, getting necessary permits, food, transportation and more. If the event has a theme, you’ll develop that, too. Plus, you’ll be in charge of securing the needed resources to make the event a success.

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Event Plan Template

Use this free Event Plan Template for Excel to manage your projects better.

What Is an Event Plan?

An event plan defines how an event will be executed. It addresses all the components of an event such as the start and end dates, budget , venue, marketing, attendees and more. The scope and complexity of the event plan vary depending on the size of the event, but the fundamental challenges remain the same.

Organizing all those disparate parts, especially for larger events, requires powerful project management software. ProjectManager is award-winning project management software that lets you plan, manage and track your event to ensure it’s a success.

Our powerful Gantt charts help you list all your tasks and the associated resources and costs, assign them to your team and set milestones to track your progress. The whole plan is visible on a project timeline and can be saved by setting a baseline. Now you can track the planned progress against your actual progress to make sure you’re on schedule. Get started with ProjectManager today for free.

Event Plan Example

Most of us have some experience planning an event, be it at home, work or in our community. For this article, let’s focus on large events.

A conference is a common type of large event, so for our event management purposes, let’s talk about a TEDx conference that we were involved in to illustrate how to plan an event. This example is a good scenario to explain the structure and challenges of planning a big event, along with the benefits of planning an event with project management software .

Let’s break down the other components of setting up an event. They’re summarized below:

• Event timeline: First, establish a timeline for your event. This timeline should include pre-event planning, event execution and post-event activities.
• Budget: Estimate your event costs and create a budget. Your available budget will influence many event management decisions such as your venue, the marketing and advertising methods, etc.
• Venue: The event has to take place somewhere, and that involves logistics management , food and beverages as well as the décor.
• Marketing: Once you’ve selected a venue, you need to start drawing people to it through a marketing program that can include a website, social campaign, email and print work.
• Advertising: Hand in glove with marketing is advertising. That can include radio, TV, newspaper and magazine advertisements.
• Volunteers: A big event needs a big crew of people to get it off the ground and run smoothly. That means volunteers, which means writing contracts, defining their roles, setting up meetings and determining schedules.
• Speakers: You must have a keynote speaker or a group of speakers to attract an audience. This involves contracts, curators to select the talent, a program, bios and rehearsals.
• Sponsors: All of this costs money, and a big event’s budget is supplied by its sponsors. This again involves contracts, marketing and logistics.
• Production: The production involves creating contracts as you work on creating an audio-visual recording of the proceedings, as well as a sound and video broadcast during the event.
• Stage: The event takes place at a specific venue and on that venue is a stage on which the event proper will be presented. That usually incorporates a projector, screen, microphones, internet connection, batteries, cables and more.
• Attendees: Don’t forget about the people attending the event! You’ll need communications to inform them of event information, payment processes to collect fees, emails to stay in touch, directions, badges and access points.

Related:  10 Free Event Planning Templates for Excel & Word

Free Event Plan Template

This free event plan template for Excel is a great tool to start assembling the information you need to create an event plan. It can be customized to add your event details.

The Event Planning Process: Event Planning Steps

We covered a lot on event planning, so let’s break down those tips into concrete steps. These event planning steps will guide you toward success. Let’s continue with our conference example.

• Step 1. Determine your event goals and objectives
• Step 2. Assemble your team
• Step 3. Establish an event budget
• Step 4. Choose a date & venue
• Step 5. Select the speakers
• Step 6. Event marketing & advertising
• Step 7. Execute your event

When you break down the scope of your event plan into manageable steps, the process seems a lot less daunting. However, there are a few more things to keep in mind when making your event plan.

Event Planning Roles

As you might expect, there are many different roles that work together to bring an event to life. It’s easy to get confused. Are you an event manager or an event planner? Is there any difference between the two? Let’s take a look at some of the more common event-planning roles and define them.

Event Manager

The event manager is often mistaken for the event planner, but they are two distinct roles. Most simply, the event manager is responsible for event management activities, which involve coordinating and implementing the event. They take care of setting up the event, including its design, and make sure the vision of the event planner is realized.

Event Planner

An event planner organizes, coordinates and executes the event. They’re in charge of coming up with the idea, overseeing the setup and breakdown of the event. They’ll select the venue, create the budget and ensure everything is taken care of. What sets them apart is they design the strategy for the event to the smallest detail.

Event Producer

The event producer fleshes out the strategic plan of the event planner. They are the one who takes the idea and turns it into a living event. They will take charge of the technical aspects of the event, such as audio/visual, stage design, etc. They work with the event planner to schedule the event , but the event producer uses their skills and expertise in producing events to deliver the event that’ll impress both attendees and the client.

Event Planning Tips

Unfortunately, there are always going to be variables out of your control that’ll affect the event planning process, such as the weather, delivery delays, technical difficulties and other potential mix-ups. As stated earlier, you can’t change the date of your event, so you’ll want to be as prepared as possible for any risks or issues that may pop up on the day of your event.

Do a Post-Event Review

A post-event review or a post-mortem as they’re often called, is very valuable. By looking back at the past event and seeing what worked and what didn’t work, you can better plan your next event. There are always lessons to be learned and applying them to the next project will avoid previous mistakes and increase your chances of a better outcome.

Use Event Planning Templates

Having an event planning template is a great way to make sure you’re not missing any important pieces of the larger event. It’ll help you organize your tasks and resources, costs and more. Use our free event plan template to get started on the right foot.

Use Event Planning Tools

A template is fine, but limited. You have to manually update everything and it’s not very collaborative. Event planning tools, such as Gantt charts , kanban boards, task lists and calendars, help you plan and implement the event plan. They also allow you to track the work to make sure it’s following the plan, which leads to a more successful event.

Prepare a Plan B

As important as your plan is, there can be issues with it. There might be acts of god, such as weather, which negatively impact the event. Whatever the cause, you’ll need a backup. That’s why developing a plan B is so critical to the success of the event. You might never have to use it, but in case you do, you’re prepared.

Use an Event Planning Checklist

Another tip is to have a checklist made up. That way you can collect all the things you have to do and why you’re doing it in one place. Using a checklist for event planning can be done in conjunction with project planning tools . The more safeguards, the better. Also, there are few things more satisfying than crossing something off your list.

Event Planning Checklist

There’s a lot to manage when planning an event, so it’s important to have a list of everything you need to include in your event management plan. The following is a general event planning checklist to help you get started. The more questions you ask, the better your event checklist. Feel free to add your own unique responsibilities and tasks.

Goals and Objectives

• What’s your event’s reason for existing?
• What are the goals this event is expected to achieve?
• What are the revenue objectives?
• What is your target audience?
• How many people will attend?
• Is there a cost associated with ticketing and what is it?
• Where is the event being held?
• Create an event schedule.

Event Budget

• Figure out what the costs will be
• If you held similar events, use and adjust an old budget for a baseline
• What ticketing and registration software will be used?
• Finalize sponsor contributions
• Set ticket price

Date & Venue

• When will the event take place?
• Have a backup date in case issues arise
• Is there the best location for the event?
• Is the venue appropriate for your expected number of attendees?
• Decide on needed infrastructure: wifi, capacity, bathrooms, near shopping & restaurants, etc.
• Hire a caterer
• Secure what equipment you’ll need
• What are your security needs?
• Do you need permits, licenses or insurance?
• Create event signage and communication plans for attendees
• Research potential speakers
• Create a list of relevant speakers
• Create a pitch for speakers
• Pitch speakers
• Finalize speaker selection, get bios and headshots and arrange travel and accommodations
• Develop a list of sponsors and what you can offer them.
• See if there are sponsors who have partnered with similar events.
• Reach out to potential sponsors.
• Design signoff.
• Update the site or build a unique one.
• Make sure the site can handle expected traffic.
• Have a mobile-friendly site.

Event Marketing & Advertising

• What’s your messaging?
• Coordinate with digital tools and social platforms
• Add the event to online calendars
• Market the event with blog posts and other promotions like videos and online ads
• Send reminders to all parties a month or two before the event date

Finalizing the Last Steps

• Speakers and scripts
• Decorations

Pro tip: That’s a lot to coordinate and plan, which is why there’s a need for project management software that has the right features for event management. It provides a common portal, where you can track costs and tasks with automated alerts. It also offers both a communication and a collaborative platform that reduces the need for unnecessary emails. Software collects all your files in one place and makes team reporting simpler by adding efficiencies and reducing stress.

ProjectManager Offers Robust Event Planning Tools

ProjectManager is online software that’s suited for event planning. We have event project management tools to keep all the parts of your events, from managing vendors to promotions, organized. Our planning software helps you keep track of all the elements that make up your event plan.

Keep Stakeholders Updated With Event Calendars

Our multiple project views mean that event planners and managers can use project calendars , Gantt charts and there are task lists and kanban boards for teams. While reports can keep stakeholders informed, they might want to have access to the project. Share the calendar view with your stakeholders, which allows them to see start and end dates for all the tasks as well as milestones. This manages their expectations.

Zoom Into Event Activities With Kanban Boards

Use ProjectManager’s kanban board to manage the daily activities that need to be executed to plan, schedule and track your event plan. Move tasks from column to column as you collaborate on work with your team, and it’s easy to spot bottlenecks and get everything over the line in time for the event.

Track Event Labor Costs With Timesheets & Real-Time Dashboards

Plus, timesheets make invoicing easy for all your events. They can be submitted and approved with a keystroke. Our software also offers a variety of views, from a list to a calendar and even a kanban board that helps you visualize the workflow to keep on task.

More About Planning an Event

Event planning can be complex. There’s a lot of balls to keep in the air. If the above is too much to digest immediately, you could start with our event plan template and watch one of our planning experts. Jennifer Bridges, PMP, has years of experience and uses it to teach you the fundamentals of event planning in this short video.

Related Content

• Free Event Proposal Template
• Event Management: A Quick Guide
• How to Plan a Virtual Event: Virtual Event Planning Checklist
• Event Project Management Software

ProjectManager is award-winning project management software that helps you plan and monitor your event details. From powerful planning tools to real-time reports and dashboards that capture all of your event details, you can use our software to stay on schedule and stick to your planned budget. Try our software today with a free 30-day trial.

Deliver your projects on time and on budget

Start planning your projects.

OCTOBER 15-17, 2024 | NEW YORK CITY

How to Create a Strong Event Planning Brand for Your Business

• June 26, 2024
• Author: Jessica Stewart

You could have the best event planning business in your market. But if no one knows about it, then you aren’t getting the leads and clients that you should. As an event planner, you have to convince people to trust you enough to use your business. Having a strong event planning brand helps the business grow long-term by establishing recognition and trust early on and applying these techniques to your marketing strategy ongoing. 

Define Your Event Niche

As you well know, not all event planners offer the same services or plan the same type of events. However, potential clients do not always know this. Before you can start building brand recognition, you need to define what your event planning brand does. Defining your niche will help you craft your marketing message. That way, you can clearly indicate your services to potential clients. Once you define what types of events you plan, you can define your ideal client. Create a persona of your ideal client. Include facts about demographics, education, interests, and budget. Finally, determine what your unique selling point is. There may be several other event planners offering similar services in your market. Highlighting what makes your event planning business different will help your target customers remember your brand better. 

Craft Your Brand Identity for Your Event Services

Focus on crafting an identity for your event planning business. Have a name, logo, and slogan that reflects your event planning business. Use these throughout all of your marketing to create a consistent message that is readily recognizable. Create a personality for your event planning business by using a consistent brand voice and tone throughout all of your marketing. This includes website copy, blogs, social media posts, emails, and any other client communications. Once you have all of these aspects defined, you can begin outsourcing marketing tasks . One place to consider outsourcing is for picture and video production. These are essential for showcasing your business.

Build Your Online Presence

Establishing and diligently maintaining an online presence is a must for building a strong event-planning brand. Start with a professional website showcasing your business, services, testimonials, portfolio, and expertise. Create social media profiles on social media platforms that make sense for you and your business. You don’t need to be active on all of them. However, be consistently active on those you choose. Choose those social media platforms your target audience is on for the most effectiveness. Register and maintain profiles on business listing websites that can increase your visibility to those looking for an event planner. Maintaining social media and a website will improve SEO performance , helping the business increase online traffic and gain leads. 

Deliver Exceptional Event Experiences and Service

A detailed and extensive marketing plan won’t replace quality service. There is no better way to build a strong brand reputation than delivering high-quality customer service to event clients. Happy clients are the best advocates for a business because they share authentic opinions and experiences. Other people are more likely to trust and believe a client’s endorsement than your carefully crafted marketing. Communicate openly and often with clients. Listen and address their needs and concerns. And strive to create memorable experiences at your events. 

Network and Collaborate with Other Event Planners

Building your professional network helps establish a brand by establishing your event planning business as a reliable and professional entity. A strong professional network should include venues, vendors, and other event planning professionals. Together, it’s the strategic partnerships that lead to elevated brands, event services, and events in general. To build your network, attend industry conferences and events like The Event Planner Expo 2024. 

Learn More About Branding at The Event Planner Expo 2024  

Building and promoting your event planning brand will be crucial in creating brand recognition. Start by deciding what your brand is and what it represents. Then, begin building your online presence with a website and social media. Focus on delivering exceptional event experiences and customer service to event clients. Finally, stay active in the industry by attending networking events. 

Speaking of networking events, have you secured your tickets yet for the event industry’s premier conference this October? The Event Planner Expo 2024 is going to be MONUMENTAL this year with incredible speakers, influential leaders, and three full days of high-energy networking like never before! Experience this event and walk away with leads, new strategic partnerships, and the business knowledge you need to 2X, 4X, or 10X your event planning business next year!

Get tickets to The Event Planner Expo 2024 !

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Start » strategy, big event, small budget how to host an affordable small business event.

From identifying your target audience to providing value to attendees throughout the year, here are some tips for planning and hosting a professional event.

Whether it’s a grand opening, a customer appreciation celebration, or a networking luncheon, hosting a professional event can help small businesses connect with current and prospective customers while boosting brand awareness.

While planning a corporate event requires significant time, coordination, and resources, it’s more than possible to pull it off without breaking the bank. Here’s what small businesses need to know about planning and managing an event.

How small businesses can benefit from hosting professional events

Professional events tend to have a strong return on investment: According to an UpCity survey , nearly three-quarters of SMBs reported that, for every $1 spent in event marketing, they saw an ROI of $20 or more.

One of the most compelling reasons to host a professional event is the potential to build connections. In addition to strengthening relationships with existing customers , you can also meet prospective clients and partners, which can lead to future business opportunities.

“You can make more connections in one or two days at a live event than you can in a month, or even a year, in any other format,” said Vincent Velasquez, CEO and Co-Founder of event production companies Hurricane Productions and MediaCutlet .

Hosting a professional event can also increase brand awareness and recognition, particularly within your local community or industry. Depending on your business, you may even be able to sell your products or services directly during the event for an additional revenue stream.

[Read more: 10 Popular Swag Items to Give Out at Your Next Company Event ]

Considerations for small businesses in the early stages of event planning

While professional events are well worth the investment for many small businesses, they also require careful forethought. Velasquez recommended identifying your audience early in the planning process to streamline the logistics throughout.

“If you can clearly define ‘who attends,’ then it crystallizes marketing, sponsorship opportunities, and … the different teams it takes to produce an event toward one goal,” he told CO—.

You can make more connections in one or two days at a live event than you can in a month, or even a year, in any other format.

Vincent Velasquez, CEO and Co-Founder of Hurricane Productions and MediaCutlet

Other considerations for early event planning include:

• Your budget. Establish how much money you have at your disposal for the core event — including food and drink, venue, guest speakers, and/or entertainment — as well as the costs of marketing/promotional materials and other additional line items.
• Your end goal. Identify the reason for hosting your event; common goals include increasing revenue, boosting brand awareness, or generating leads. Set metrics that align with your primary objective and allow you to quantify success.
• Any potential partners or sponsors. Determine if bringing in another party, whether an event partner or sponsor , can add value to your attendees while helping you meet your event goal. Event partners will work alongside you to plan and run the event, while a sponsor provides funding in exchange for exposure.
• Necessary logistics and responsible parties. Write out each task that needs to be completed, including booking and purchasing necessary items, setup/cleanup, and internal and external communications. Then, establish which individuals or teams will be responsible for each, and create a plan to track task progress and completion.

[Read more: How to Host a Hybrid Event ]

Best practices for planning and running an in-person business event

These best practices can help you and your audience get the most out of your business event:

Get the word out

A strong event promotion strategy is crucial to attracting attendees, which may include current customers, qualified leads, and those with similar profiles to your brand’s target audience. Social media and email marketing campaigns, along with event listings and web pages optimized for SEO, can be both impactful and cost-effective for businesses on a budget. If you’ve landed an event partner or sponsor, cross-promoting with them can also expand your audience significantly.

Develop a contingency plan

Bad weather, transportation challenges, and other unexpected events can disrupt your event if not accounted for. Creating a contingency plan for potential risks and worst-case scenarios, and conveying that plan to your team, can ensure your event runs smoothly — even when life doesn’t.

Provide lifetime value to attendees

The value you give attendees doesn’t have to (and shouldn’t) end when everyone goes home. Velasquez encouraged small business owners to view their event as the culmination of the products or services they offer year-round and extend that value accordingly.

“If you have a newsletter, publication, digital product, or service that can give people more value throughout the year, that is how you maximize everyone’s investment, including your own,” he said.

CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

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11 Must-Attend Event Management Conferences

• Share this Article

In the bustling world of event planning, one glaring challenge consistently stands out: staying ahead in an ever-evolving industry. How do you keep your events fresh, engaging, and on the cutting edge?

The answer lies in continuous learning and strategic networking. For those determined to lead rather than follow, attending the right event management conferences is not just beneficial; it's essential.

This curated list of 11 must-attend conferences is your gateway to mastering the latest trends, technologies, and methods. Dive into this guide to find out which events can help you solve the biggest challenges in event planning and elevate your projects to new heights.

1. The Event Planner Expo

The Event Planner Expo is the top destination for those in the world of event planning, and it's not hard to see why. This three-day event, held annually in the vibrant city of New York, serves as a pivotal meeting ground for industry professionals ranging from event planners and corporate decision-makers to marketing and public relations professionals.

Attendees have the unique opportunity to connect with over 150 exhibitors displaying the latest in venues and services.

The Expo is structured to maximize learning and networking opportunities. The trade show floor at the Metropolitan Pavilion buzzes with activity as participants explore innovative offerings and form strategic partnerships.

Another highlight is the Speaker Series at the 92nd Street Y, where top keynote speakers and panelists share their insights. They'll offer attendees new perspectives that can fundamentally shift their approach to business.

The immersive experience doesn't stop with exhibitions and talks. The Event Planner Expo also hosts exclusive   VIP networking events , which are perfect settings for forging lasting professional relationships.

By attending, you position yourself to gain cutting-edge industry knowledge and enhance your network within the events community.

2. IMEX America

IMEX America stands out as one of the top event conferences in the United States. It attracts thousands of professionals annually to Las Vegas.

Known for its expansive scale and breadth of resources, IMEX America offers a comprehensive program filled with:

• Educational seminars
• Networking opportunities

It's a place where attendees can learn about the latest trends and technologies that are shaping the future of event planning.

The conference boasts a dynamic atmosphere where innovation in event technology, sustainability, and creativity are on full display. Here, attendees can meet face-to-face with an array of international suppliers from across the event industry.

The diversity of the sessions and the caliber of the speakers make IMEX America a critical stop for professionals looking to enhance their knowledge and skills in event management.

3. Event Tech Live

Event Tech Live is Europe's premier show dedicated to event technology. Based in London, this conference draws a crowd eager to explore the latest digital advancements in the event management field. From interactive platforms that enhance attendee engagement to software that streamlines the planning process, Event Tech Live covers it all.

Participants have the chance to attend workshops and demos to get hands-on experience with   new tools . These sessions are invaluable for staying current with technological progress and learning how to integrate these innovations into their own event strategies.

The knowledge gained here can give professionals the edge they need to host successful, modern events that resonate with their audiences.

4. MPI World Education Congress

The MPI World Education Congress (WEC) is one of the most anticipated event planning seminars each year. It attracts a global audience of professionals who are eager to learn about cutting-edge strategies and best practices in meeting and event management.

Held in different host cities across North America, the WEC offers a rich program that includes keynote presentations, educational breakout sessions, and numerous   networking opportunities .

At WEC, the focus is on both professional growth and personal development. Attendees can take part in sessions that range from strategic planning and risk management to marketing and communication, all designed to provide comprehensive learning experiences.

The congress also provides a platform for meeting and interacting with industry leaders, which can lead to new professional opportunities and collaborations.

5. PCMA Convening Leaders

PCMA Convening Leaders is one of the most influential industry conferences for event professionals. Held annually, it gathers thousands of planners, suppliers, and other stakeholders from around the globe. This event focuses on innovation and leadership in the meetings and events industry.

At PCMA Convening Leaders, attendees can expect a mix of:

• Keynote presentations
• Breakout sessions
• Interactive workshops

The sessions cover a wide range of topics, including event design, attendee engagement, and sustainability. These discussions provide practical insights that professionals can apply directly to their own events.

6. The Special Event

The Special Event is a must-attend for those involved in the creative and production aspects of event planning. This conference celebrates the artistry and innovation that go into   creating memorable events . It's an excellent venue for event planners, designers, and decorators to gather and share ideas.

This event is known for its immersive educational sessions and hands-on workshops. Attendees can participate in event management workshops that cover everything from floral design to lighting techniques.

The Special Event also features an expansive trade show floor where vendors showcase the latest products and services in the industry. Networking events are another highlight. They provide ample opportunities to connect with fellow professionals and industry experts.

7. IBTM World

IBTM World is one of the premier event planning seminars focused on the meetings, incentives, conferences, and exhibitions (MICE) industry. Held annually in Barcelona, this event attracts thousands of professionals from around the world. IBTM World is designed to help attendees discover new business opportunities and stay ahead of   industry trends .

The event features a comprehensive program that includes:

• Educational sessions
• Keynote speeches
• Networking events

Attendees can learn about the latest innovations in event technology, sustainability practices, and attendee engagement strategies.

The trade show floor is another major attraction, with hundreds of exhibitors showcasing their products and services. This makes IBTM World a valuable resource for anyone looking to enhance their event planning skills and   expand their professional network .

8. NACE Experience Conference

The NACE Experience Conference, hosted by the National Association for Catering and Events, is a key event for professionals in the catering and event planning industries. This conference offers a blend of educational sessions, workshops, and networking events, all designed to provide attendees with the knowledge and tools they need to succeed.

Participants can attend sessions on a variety of topics, such as:

• Culinary trends
• Event design
• Business management

The event management workshops are particularly popular. They offer hands-on learning experiences that can help attendees improve their skills and stay current with industry trends. Networking opportunities abound, making it easy to connect with peers and industry leaders.

9. Connect Marketplace

Connect Marketplace is a unique event that brings together planners, suppliers, and destination representatives for a series of one-on-one appointments. This format allows for highly targeted networking and business development opportunities. Held in various cities across the United States, Connect Marketplace attracts thousands of professionals each year.

The event includes educational sessions and workshops that cover a wide range of topics, from event marketing and technology to venue selection and logistics. Attendees can also participate in industry conferences where they can learn from experts and gain insights into the latest trends and best practices.

The combination of structured appointments and educational opportunities makes Connect Marketplace an invaluable event for anyone involved in the   event planning industry .

10. TEAMS '24

The TEAMS '24 Conference and Expo, organized by SportsTravel magazine, is the leading event for the sports event industry. This conference focuses on the unique challenges and opportunities associated with organizing sports events, from local competitions to international tournaments.

At TEAMS '24, attendees can participate in a variety of sessions and workshops that cover topics such as:

• Event security
• Fan engagement

The event also features a trade show where exhibitors showcase the latest products and services for the sports event industry. Networking opportunities are plentiful, making it easy to connect with peers and industry experts. This conference is a must-attend for anyone involved in planning and executing sports events.

11. The Meetings Show

The Meetings Show, held annually in London, is the UK's leading event for the meetings, incentives, conferences, and exhibitions (MICE) industry. This event attracts a diverse audience of planners, suppliers, and other professionals from around the world.

The Meetings Show offers a comprehensive program that includes educational sessions, keynote speeches, and networking events. Attendees can learn about the latest trends and best practices in event planning, from technology and sustainability to attendee engagement and logistics.

The event also features a trade show where exhibitors showcase their products and services. The Meetings Show provides a valuable opportunity for professionals to enhance their skills, network with peers, and discover new business opportunities.

Unlock Your Potential at the Best Event Management Conferences

From absorbing cutting-edge trends at IMEX America to mastering technology at Event Tech Live, this list has steered you through the premier event management conferences around the globe. Each one, a gateway to unparalleled learning and conference networking opportunities.

But if there's one event that encapsulates the essence of innovation and community in the events industry, it's The Event Planner Expo . Held in the vibrant heart of New York City, our expo not only showcases leading strategies and products but also sets the stage for forming impactful connections. Reserve your booth today to network and experience the pinnacle of event planning excellence.

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Walgreens plans store closures as CEO says consumers are 'stunned' by prices

Walgreens is planning potentially sweeping store closures as it faces what its CEO called a “challenging” environment for pharmacies and U.S. consumers.

The pharmacy chain announced quarterly earnings Thursday morning that fell short of Wall Street expectations. Walgreens' stock price dropped 22% on the day.

In an interview with CNBC , CEO Tim Wentworth said the company now forecasts weaker consumer spending for the rest of the year.

″We assumed ... in the second half that the consumer would get somewhat stronger,” but “that is not the case," Wentworth said. 

"The consumer is absolutely stunned by the absolute prices of things, and the fact that some of them may not be inflating doesn’t actually change their resistance to the current pricing," he added. "So we’ve had to get really keen, particularly in discretionary things."

Last month, Walgreens, following Target's lead , announced plans to slash prices on 1,300 items to better serve customers it said were increasingly under "financial strain."

Wentworth didn't state an exact number of closures, but it implied it could be as much as 25% of the chain's approximately 8,600 stores.

“Seventy-five percent of our stores drive 100% of our profitability today,” he said. “What that means is the others we take a hard look at, we are going to finalize a number that we will close.”

Walgreens has contended with difficulties for years.

Its share price has declined steadily for about a decade, dropping from a peak of more than $95 a share in 2015 to less than $15 today. It has reported reduced revenues from prescription drugs, and its retail offerings remain under pressure from both big-box chains and Amazon.com. And it already announced a plan to close 150 U.S. stores last summer.

Today, Walgreens is about one-third the size of its chief rival, CVS , which has also been under pressure over the past two years.

Since the Covid 19 pandemic, Walgreens has gone through a period of executive leadership turmoil: Wentworth was named CEO in October after his predecessor, Starbucks and Walmart veteran Rosalind Brewer, unexpectedly announced her departure less than three years into the job.

A bright spot was its health care segment, which topped revenue estimates. Walgreens views on-site medical services and specialty pharmacy offerings as critical to its push to transform from a major drugstore chain into a large health care company. 

Rob Wile is a breaking business news reporter for NBC News Digital.

Annika Kim Constantino covers the biotech and pharmaceutical industry for CNBC Digital.