Recommended: Get started with local advertising for your business with a How to keep customers coming back Providing a professional level of service and an impeccable relationship for giving the customer what they want is key. The two income streams produce enough revenue for a profit. Editor's note: This article was excerpted from Entrepreneur Press, 2015. Become an Official Event Partner If you have a large corporate client, inquire about how other departments in that company handle their events. Share with like-minds Lastly, Collaborate. Be flexible and prepare for the unexpected. But anyone who contemplates the fantasy of starting their own event planning business must follow some important steps before you even beginning to talk to clients.
I certainly would not recommend working for somebody else if you only plan on being there for 2 to 3 months as part of your training. In time you may handle a full range of events, but initially recognize that there are distinctive differences between corporate, association, nonprofit and social events. Thought Leadership Post industry thought leadership pieces that attract attention. One, entry level event planners earned less than I was making as a nurse. Of course, there is risk involved and investment needs to be secured but it can also potentially give you the biggest returns. At a minimum, you'll need a computer, software, and office supplies and this assumes you can network and market your new business at virtually no cost.
There are a variety of factors to take into account when setting prices for your business. Create Your Own Leads Sometimes clients are not always forthcoming and you need to proactively go out there and find them yourself. Explore the different areas of event planning and choose types of events that interest you. Free advertising, especially for start-ups, is an excellent resource. To create this article, 11 people, some anonymous, worked to edit and improve it over time. Will you offer full-service planning and execution on behalf of your client for venues, catering, production, speakers, gifts, transportation, lodging and more? Here are a few ideas on how you can even out your cash flow problems and work peaks and troughs.
Handwritten Note Take up the art of the handwritten note. Your secretary of state office will have name registration forms available on the website or in the local office. Press Releases Get some press. For example, you may decide to specialize in conferences or exhibitions or party planning. Another one, wear a talking point …. The last thing you want to do as an event professional who has feast or famine times is to turn away work.
You can increase your pricing, which is another good way to improve cash flow. You are likely to work the longest hours of your life, working 80 plus hours a week is not unheard of for business owners. And although you may think that you can handle all tasks, ultimately you are going to need to establish an infrastructure of resources to support your events and overall operations. Many corporations, and some members of the general public, look for these designations when hiring planners. Instead, have backups for every event.
Share their content as well. The obvious, and in one sense the most important, test of an event's success is customer satisfaction. Comment by Megan Bell on September 8, 2017 at 2:24 am Hi Nick. The best place to start is your own network. If you prefer working alone in a non-collaborative, yet organized environment, then you may want to reconsider this career move.
How much can you charge customers? The planning of those events, however, will be done mostly during business hours. Certain geographical locations may offer incentives or grants for new businesses, to help them start out, or your college or university may be able to offer support. The same is true for niches. In general, areas with a high cost of living will result in higher hourly rates. E-mail people you know and ask them to recommend you. How to Start an Event Management Company with Little or No Money Yes it is possible! In order to level that out, one of the things you can do is work with other event planners in a referral group.
Event planners may also have started out planning events for other companies before deciding to go into business for themselves. Some colleges and professional organizations also offer certificate programs in event planning specifically. Because of this, some party planners choose to specialize in children's parties. Consult local business laws to find out. Hashtags There is a plethora of information on social media and it can be hard to get noticed without having to pay for adverts or to get your message out.