How to Start an Event Planning Business in 2023?
With private organizations and individuals hiring professionals to plan their social and corporate events, an event planning business is undoubtedly an apt option to enter the market with low startup costs. But, it requires accurate planning, thorough research, and many other regional and geographical considerations. One needs to be cautious while investing in it, and an abrupt and unplanned start can lead to many unexpected losses. However, recent technological advances have made it relatively easier to build a business on your own. Are you an entrepreneur thinking of starting an event planning business? Do not worry! Read the blog to learn how to start an event planning business without hassle!
Steps to Start an Event Planning Business in 2023
Here are the curated steps on how to start an event planning business successfully:
1. Do a Long-windedly Research
The first step is conducting in-depth research to know if your business will be viable in your city or region.
Does your city lack event planners? Do events happen in your community frequently? How will you make your business stand out from others?
Find the answers to such questions and resolve every doubt you have before setting off to launch your business.
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2. Make a Business Plan
Now that you know your business will be profitable and worth starting, craft an adequate event planning business plan. An effective plan reduces and eliminates the chances of committing trivial errors in the long run, which is why it is better to plan for better outcomes.
Your event management business plan should include your business’s location, budget, administration, resources, recruitment policies, etc.
3. Think of an Enchanting Business Name
One requires to give a business name to their business. It is critical to pick an appealing name to attract attention and customers. Moreover, ensure that it is both crisp and literal. For instance, you can even give your event planning business your name. However, it must convey the business’ traits through it.
4. Get a Business Logo
To start an event planning business, you must establish a visual identity through which your event planning business will be known.
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Choose colors for your brand and the font that suits your identity, and get an attractive business logo. You can also print business cards for networking.
5. Register your Event Planning Business
Since you have framed a detailed event management business plan, you must focus on the legal aspect of the process. Register your business with the municipal corporation of your city and see if your locality demands a business license.
Go through the formalities properly. Visit your city’s website to ensure your brand’s name is unique and distinct.
6. Select a Domain Name
Once you have registered your business, work on building its presence in the digital world. You have to find a domain name for your website, register it and make sure that it matches or is similar to your business name.
7. Get a Website
Once you start an event planning business, you must also get a website for your business. A website ensures wider customer reach and also assists you in sharing information about your business.
Share your process and feedback with clients, and upload images of your work with the people you have partnered with. Providing a reliable identity will help you gain the customer’s trust. You can use a good website builder to create your business website.
Shopivana, a free website builder (for 30 days), is one of the most trusted website builders. It assists businesses in creating customized websites that are SEO-friendly and attractive at the same time.
8. Advertise your Business
Your event management business plan must also focus on advertising and marketing your business to reach more audiences. No matter how good your event planning business services are, you’ll only get clients if people know about you.
Advertising is essential, especially in the initial phase of the business, so that people know about your brand. Distribute pamphlets, use word of mouth, get hoardings, utilize social media and let others know about your business.
9. Build your presence on Social Media
One of the most crucial things to remember in an event planning business plan is your presence. As said earlier, customers will only be able to reach you if they know you exist.
Almost everyone uses social media in one way or another. Consequently, establishing a social presence is vital for the better reach of your business.
You can make your business account on various social media handles like Instagram, Facebook, and Twitter. Regularly posting informative and relevant information on these platforms mentioned above will enhance your presence online.
10. Form a Portfolio
Remember that: You are known for your work, and as a result, you require your customer’s trust in you. Proof of your previous work in the event planning business is the best way to gain confidence.
You must build a portfolio to showcase your performance and achievements. Fill your website gallery with the images of past events you organized.
11. Get a Business Account
You can use your personal account for your business. However, it is recommended not to use that.
A separate account helps manage business transactions, leverage taxes, and get timely income and expense reports. It also assists in borrowing loans from financial institutions for your business.
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12. Administer Accounting and Insurance System
You should have an accounting system to track your business performance regularly. You can hire an accountant or look after the financial situation and tax filing yourself.
Additionally, it is necessary to insure your business. Insurance is essential to provide coverage to your business in case anything goes wrong in an event.
13. Decide your vendors
Now you have finally reached the last step. To ensure the quality of your supplies matches your budget, explore your business” surroundings even before taking your first event. Find florists, caterers, different venues, etc.; this will help you to get a better idea of vendors and save you time later.
Why use Shopivana?
Shopivana is a platform designed to craft eCommerce websites exclusive of coding. It allows you to create your personalized website within a short time with zero commissions on transactions.
Additionally, you can create a mobile responsive website that provides advanced security and the most attractive features, such as payment integration and SEO marketing.
As a business owner, you can drive more sales conveniently through the in-built features of the website Shopivana creates!
Starting a business can be a hectic task. However, you can achieve marvelous success if you put in reasonable efforts and make decisions after considering every possibility. Your main aim is your business’ success.
The above article has discussed all the necessary steps on how to start an event planning business smoothly. Use these steps and eliminate all confusion.