Starting a Home-Based Event Planning Business

Event planners help their customers plan and coordinate events. These events can range from wedding or family gatherings to corporate events, retreats or seminars. Event planners manage the details so the customer does not need to bother with the details.

The United States Department of Labor Bureau of Labor Statistics (BLS) reports in their occupational projections data that there were 56,600 meeting and convention planner jobs in 2008. This number is expected to grow by nearly 9,000 jobs during the decade from 2008 - 2018. This represents 15.6 percent growth in one decade. More than 21,000 jobs are expected to be available over this decade due to growth and the need for replacement workers. Nearly six percent of meeting and convention planners are self-employed. BLS reports "high" median annual wages for meeting and convention planners, with a median annual salary of $44,260.

Getting Started

Event planners, like many other freelance professionals. may specialize in a niche market. Event planners may work primarily as corporate event planners or as social event planners. Corporate event planners may plan seminars, retreats, conferences, or meetings for business customers. Social event planners may plan weddings, family reunions, class reunions, church functions, or community fundraisers.

Event planners can work in a variety of settings and environments, and may be asked to plan a wide variety of events. Decide in advance which types of events you want to focus on planning. There is always room to try something new and to expand your business, but working within a niche can help to keep things smooth when you are getting started.

Establishing relationships with key suppliers and vendors in advance can help you plan and price events. An event planner needs to know in advance where they will get tables, chairs, food, flowers, balloons, musicians, and many more things. The more contacts you have in advance the easier this process will be when a client asks for a particular detail or service at an event.

An event planning business can easily be operated from a home office. In fact, this business can be operated from almost anywhere with a cell phone and a laptop computer.

Marketing

Networking is an important part of marketing your event planning business. Who you know will not only make your job easier, it will also provide you with more work. Word or mouth advertising is as good as it gets in any industry; it is critical in the event planning industry. Joining the local chamber or commerce and any related business or social groups in your community can facilitate meeting many new people - some of whom will become customers.

Corporate event planners may find it easiest and most cost effective to direct market their services to local businesses and organizations. This allows the event planner to connect with decision makers who may need an event planner for a coming event, or who may be dissatisfied with their current event planner. In any event, it never hurts to keep your name in front of people who may eventually need your services.

Social event planners may find it most effective to market their services through the local business and services directories, newspapers, and community advertisements. Local newspapers and magazines may also run special editions, such as bridal editions in the spring, that can be valuable places for social event planners to advertise.

Every business needs a website and an event planning business is no exception. Setting up and maintaining a quality website offers several advantages for the event planner. A website makes it easier for customers to find you when they search for event planners in your city or area. A website also provides you an opportunity to showcase your work in print, photos, and even videos. This can also be a good place to list credentials, experience, testimonials, and recent projects. Your website can be a powerful tool for converting prospects into customers.

Every business professional also needs business cards. Again, event planners are no exception to this rule. Professionally printed business cards allow you to share all of your contact information in an instant. Business cards are also a tangible reminder of a contact that your prospect can bring back to their office with them.

Cautions

Event planning requires attention to detail, creativity, and the ability to balance multiple demands under stress and on deadlines. Not everyone will enjoy this type of work.

Event planning also requires an extensive network of contacts - both for customers and for suppliers and vendors. Planning an event may require coordinating furniture, food, entertainment, and more!

Event planning will likely require the use of a motor vehicle. Be certain that the vehicle is properly insured for business use prior to using the vehicle for business or having signs installed on the vehicle.

A good contract would be invaluable for an event planner. There are many questions that can arise during an event, including questions of what is included in your price and who is responsible for certain expenses. Detailing everything in a contract can avoid headaches and misunderstandings.

Conclusion

The event planning business is probably not for the faint of heart. This business requires the ability to perform well under stress, to balance multiple demands, to be creative and flexible in stressful situations, and to network extensively. Event planning will also likely involve long and irregular hours. However, event planning can be a profitable and fun home-based business for the right person.

SOURCES

United States Department of Labor Bureau of Labor Statistics. Site accessed on 07 October 2010.

B Lee. How to Start a Home-Based Event Planning Business. eHow. Site accessed on 02 November 2010.

Jill Snodgrass. Starting a Small Home-Based Event Planning Business: 10 Steps for Breaking into and Succeeding as a Freelance Event Planner. FabJob.com. Site accessed on 02 November 2010.

Lyve Alexis Pleshette. How to Start an Event Planning Business. Women Home Business. Site accessed on 02 November 2010.