Also include all planned expenditures so that potential funders will know what costs to expect for putting on events, and what you will need to hire staff, buy event equipment, lease venues or maintain your own, and market your business and your events.
Your products and services overview should address these questions: What is your target market and how do you plan on reaching the people in that market?
It’s important to know your demographics when marketing your event planning services.
And in order to secure funding, you need to make the case that your event management business has all the right parts in place so that once you receive funding, your business can take off.
A business plan makes that case for you by giving potential funders all of the information they need to make a decision on whether or not you are worth their time and money.
But my entire writing career was not without its steps, lessons, and hurdles. There are steps you have to follow, lessons you must learn, and planning that must be done in order to make your new business idea a reality.
I’ve composed a nine-step list on how to start your very own event planning business, from ideation to execution.
Here is a five step guide on building your business budget from Freshbooks and a few business budget templates to help you get started: What has been the most difficult step in starting your own event planning business?
We often have those moments where we realize what we are doing currently is not what we want to do with the rest of our lives.
If you prefer working alone in a non-collaborative, yet organized environment, then you may want to reconsider this career move.
Finally, if on-the-spot creative thinking is not your strong suit, then your ambitions might be a better fit elsewhere.