The Essential Steps to Starting an Event Management Business
The U.S. Department of Labor’s research shows that getting your event management business plan together is a smart move right now. The industry is growing faster than most, learn more about corporate event production.
And because no specialized training is required to start one, you can expect to start turning a profit much, much faster.
How do I start my own event planning business?
Like any small business, you have to start out by doing a lot of research and creating a plan for what services you’ll offer and how you’ll market them.
You’ll also have to figure out things like budgeting, whether or not you’ll want to expand your team with event staff or other specialists, and administrative tasks like quoting, billing, etc.
As you can already tell, most of the work is done up front. But you only have to do it once! And even though you’ll most likely tweak your plan as your business continues to grow, the work you put in now will largely serve as a foundation of the company for years to come.
How to start an event planning business
If you’re looking to snag one of the 116,700+ (on average) jobs available to meeting, convention, and event managers out there, here’s what you’ll need to get started.
Step 1: Determine if it’s a good fit.
Like most jobs, your skill set and personality will largely determine your success in this field. And while you don’t need to check off all the qualities on this list, here are some things to consider before you start an event management business:
- You can keep the big picture in mind while still taking care of all the little details.
- Whether it’s Sunday brunch or the company holiday party, you’re everyone’s go-to person for all group events.
- Working within a budget and strict timeline makes you feel creatively stimulated, not stunted.
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Step 2: Research certifications.
The Bureau of Labor Statistics notes that demand for event managers will grow an additional 11% by the time we reach 2026. With such a positive industry outlook, it’s good to find new ways to stand out amongst the competition as new event planners enter the market in coming years.
Certifications are fantastic ways to add credibility to your business, regardless of your experience level. Besides proving you’re dedicated to further your education in the field, these credentials show that respected institutions can vouch for your abilities (and your business).
Some of the top certifications event managers pursue include:
- Certified Special Events Professional
- Certified Event Planning Specialist
- Certified Quality Event Planner
There are lots more options to choose from, but these serve as a great jumping off point. However, if you aren’t able to acquire one right now, you can still get your business off the ground without it.
It’s worth noting that beyond certifications, there are no strict college degree requirements (although it seems most event planners do have some sort of bachelor’s education under their belts when starting out).
Step 3: Fill out an event management business plan.
Any cursory Google search for the phrase event management business plan will inevitably lead you to some free wedding and event planning business plan templates.
However, you’ll find that the one we’ve created (below) provides a not too much, not too little approach you won’t find in any other guides.
Each point has been carefully selected so that you can create the event management business plan of your dreams without getting overwhelmed or missing out on details you definitely need to include. As long as you check off the items we listed, you’ll have a solid business plan ready to go in no time.
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