event planning business plan in india

Top 10 Event & Party Planning Business Ideas in India 2023 | High-Profit Businesses

The event planning industry in India has witnessed remarkable growth in recent years, driven by the increasing demand for well-organized and unforgettable events. From the opulence of weddings to the professionalism of corporate conferences and the vibrancy of cultural festivals to the intimacy of private parties, the scope for event planning business ideas in India is not only vast but also incredibly diverse.

If you’re contemplating your steps into the event-planning arena in India, below are the top 10 event-planning business ideas to consider for a successful and rewarding entrepreneurial journey. 

List of Top Event Planning Business Ideas in India

Some of the top event planning business ideas in India are discussed below:

1. Wedding Planning Services

In India, weddings are elaborate affairs filled with intricate rituals, joyous celebrations, and time-honoured traditions, making the role of wedding planners exceedingly significant. Offering specialized wedding planning services not only entails meticulous venue selection, exquisite decor, delectable catering, and seamless entertainment coordination, but it also involves understanding and embracing the cultural diversity that these unions embody.

This sector not only promises substantial financial gains but also allows for the crafting of dreams, making it a profoundly rewarding avenue for those venturing into the event planning business in India.

2. Corporate Event Management

In the fast-paced business landscape of India, effective corporate events play a pivotal role in brand establishment and networking. Offering a comprehensive suite of corporate event management services involves meticulous planning and execution of product launches, seminars, workshops, and conferences. This idea demands not only great organizational skills but also the ability to understand and meet the distinct requirements of corporate clients.

A successful corporate event can leave a lasting impression on attendees, making this niche a crucial component of the Indian event planning industry’s growth story.

3. Social and Cultural Event Planning

India’s rich and diverse cultural tapestry sets the stage for a wide array of social and cultural events that take place throughout the year. From vibrant festivals that celebrate traditions to art exhibitions that showcase creativity, the opportunities in this realm of event planning are boundless. Crafting events that honor and highlight cultural heritage demands not only meticulous logistical planning but also a deep appreciation for the nuances of each event.

This sector requires a unique blend of creativity, cultural understanding, and organizational finesse to ensure these events resonate deeply with attendees while offering them an unforgettable experience.

4. Destination Event Planning

India is known for its diverse landscapes, historical sites, and picturesque locations. Planning events at destination venues like beach resorts, heritage properties, and mountain retreats has become a popular trend. Whether it’s a destination wedding or a corporate retreat, this niche requires expertise in logistics and a deep understanding of the chosen location.

5. Kids Party Planning

Parents are increasingly willing to spend money on creating memorable experiences for their children. Kids party planning involves organizing themed birthday parties, school events, and other children-centric gatherings. Creativity and attention to detail are crucial in this segment to create enchanting experiences for young ones.

6. Sports Event Management

India’s passion for sports, particularly cricket, presents a unique and dynamic opportunity for sports event management entrepreneurs. From organizing local sports tournaments to coordinating fan engagement activities during major sporting events such as the Indian Premier League (IPL) or international cricket matches, this idea combines the nation’s fervour for sports with the strategic planning and meticulous execution skills required in event management. 

7. Tech and Startup Event Services

There is a rising need for tech-related events that encourage creativity, information exchange, and networking as the startup environment in India expands quickly. Event planners with a thorough awareness of the ever-changing startup ecosystem as well as a passion for technology, are given a great chance in this market sector.

Hackathons, tech conferences, and startup expos require not just careful preparation and execution but also an aptitude for fostering relationships between business owners, investors, and tech enthusiasts in order to foster collaboration and the generation of ground-breaking concepts.  

8. Health and Wellness Event Planning

As India’s societal focus increasingly pivots towards health and wellness, a burgeoning opportunity emerges for event planners in this domain. Invigorating yoga retreats, enlightening wellness workshops. Transformative health expos stand as vital ways for individuals to both learn and immerse themselves in the world of holistic well-being.

To thrive in the segment of health and wellness, event planners need not only a strong grasp of evolving health trends but also a profound understanding of the intricate balance between physical vitality and mental serenity. This unique niche promises both personal fulfilment and a meaningful contribution to society’s well-being.

9. Celebrity and Entertainment Events

Celebrities, both national and international, are frequently part of brand promotions, store openings, and entertainment shows. Event planners can specialize in coordinating appearances, performances, and meet-and-greet sessions. Strong industry connections and the ability to manage high-profile guests are essential here.

10. Niche Event Planning

In the diverse landscape of event planning, carving out a unique niche can be a remarkable business strategy. By focusing on a specific theme or audience, you can create tailored experiences that resonate deeply.

Whether it’s sustainable “green” events promoting eco-consciousness or events celebrating a specific culture or interest, catering to a niche market allows you to curate experiences that stand out. This not only addresses a particular segment’s needs but also cultivates a strong sense of community around your event planning brand.

As event and party planning is a very responsible business to start, people have many questions when it comes to starting this business. The most frequently asked questions in this realm are given below.

What is event planning? Event planning involves organizing and coordinating various elements of an occasion, such as weddings, corporate events, and festivals, to ensure they run smoothly. This includes venue selection, decor, catering, entertainment, and logistics management.

How do I start an event planning business? To start an event planning business, begin by identifying your niche, creating a business plan, obtaining any necessary licenses, building a portfolio, and networking within the industry. Develop strong organizational and communication skills to excel.

What skills are essential for an event planner? Effective communication, time management, creativity, problem-solving, and attention to detail are crucial skills for an event planner.

What are the challenges of event planning in India? Event planners in India may face challenges like handling diverse cultural expectations, managing large crowds, navigating bureaucratic procedures for permits, and ensuring smooth logistics, particularly in crowded urban areas. Adaptability and effective problem-solving are essential skills to overcome these challenges.

How can I stand out in the competitive event planning industry? To stand out, focus on exceptional customer service, building a strong online presence, showcasing your past work through a portfolio, seeking client reviews, and staying updated with industry trends. Offering unique and tailored event experiences can also set you apart.

The event planning industry in India offers a plethora of opportunities for aspiring entrepreneurs. Finding your passion, utilizing your abilities, and comprehending the particular requirements of your selected market segment are the keys to success. The event planning business ideas discussed above offer a strong platform to begin your entrepreneurial adventure in India’s thriving event sector, whether you have a preference for the grandeur of wedding planning or the dynamism of corporate events. Remember, in the world of event planning, creativity, meticulous planning, and excellent execution are the keys to standing out and thriving.

Read More :

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• 10 Event Marketing Strategies To Market Virtual Events
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• Top 10 Low Cost and Most Successful Business Ideas With High Profit in India
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Related Posts

• Sample Business Plans

How to Write an Event Planning Business Plan + Free Template

Planned a few events in the past?

And, if you feel that event planning is your forte, and you have ideas that are both creative and functional, event planning might be an exciting endeavor for you!

Although most people start out by working under someone, everyone dreams of starting their own event planning business.

Also, you are about to go ahead and start yours; wait a moment!

You might have sufficient knowledge for planning events, but navigating the complexities of the event planning industry needs a well-thought-out roadmap. And that roadmap is a comprehensive event management business plan.

Yes, you read it correctly. A business plan can be of great help while starting your own event planning company. It not only sets the foundation for your venture but also enhances your opportunities for success.

So, we have created a Sample Event Planning Business Plan for you to get a good idea about how a perfect event business plan should look like!

Now, without any further ado; let’s explore all the details you will need to write in your stunning business plan.

Key Takeaways

• Clearly define your goals, mission statement, service offerings, and management team in your business plan.
• Perform thorough market and industry analysis to identify target customers, and adapt to the latest trends.
• Present a realistic financial plan, including startup costs, revenue projections, and a break-even analysis to attract investors.
• Effectively draft your pricing strategy and unique selling propositions to meet the specific needs of your target customers.
• Provide a clear outline of your business operations to efficiently deliver your planning services and seize new opportunities.
• Craft your marketing techniques, sales tactics, and promotional activities to reach a wider audience.
• Recognize your key competitors, and develop strategies that make your event planning business stand out in the competitive landscape.

How to Write an Event Planning Business Plan?

• Get a Business Plan Template
• Write an Executive Summary
• Provide a Company Overview
• Conduct an Industry and Market Analysis
• Describe your Product and Service Offerings
• Outline a Sales and Marketing Plan
• Introduce Your Team
• Outline Business Operations
• Prepare a Financial Plan

1. Get a Business Plan Template

Before you start writing a business plan for your event planning business, it is recommended to get a business plan template first.

It’s like having a valuable resource for your business planning. It not only simplifies the business plan writing process but also helps you include all the essential elements in your plan.

However, you can effectively organize your thoughts and accurately draft a strategically sound business document according to your specific requirements and preferences.

Not only that, it sets the stage for a comprehensive, professional business plan that empowers you to highlight your vision, attract potential investors, and navigate the competitive event planning landscape.

If you are a budding entrepreneur or looking for a polished template, choose Upmetrics’ business plan template now and ensure that you won’t skip any important facts in your plan.

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2. Write an Executive Summary

An executive summary is the first and foremost section of your event planning business plan. It provides a brief introduction to the entire business plan.

Make sure that it is clear, concise, and engaging, as it will create your first impression and attract investors or readers to delve further into your plan.

Start this section by describing your idea behind an event planning and type of business; for example, are you a startup business, want to grow an existing one, or running a business chain?

Communicate your business objectives and emphasize how you will be different from other event-planning businesses. Here is an example of event planning objectives using Upmetrics:

Next, give an overview of each of the subsequent sections, including offered services, market opportunities, marketing strategies, and financial projections that will be explored in greater detail within the plan.

Not only that, you can end this summary with a compelling call to action, inviting potential investors or readers to the next meeting if they are interested in your event planning.

Generally, this section is written after the whole event business plan is ready. It is often the easiest way to do so as you have simply gone through and written all the key sections of your plan.

3. Provide a Company Overview

Now, provide detailed information about your event plan business. It contains ownership, legal structure, office location, business history, and other such business-related facts.

Begin with the intro of what type of events you are organizing. For instance, it will be corporate events (catering to businesses), social events/celebrations(wedding planning, birthday parties, etc), or niche events(specialized in just one type).

Discuss a little bit more about your business history, including when you started event planning and what milestones you have accomplished. Also, accentuate your mission statement.

Take reference from the below example describing the mission of the event planning company:

In an ever-changing, fast-paced world, success is determined by good choices for lasting effects. Eventel strives to be the best choice for clients by helping to ease their event planning burden.

Through consistent, predictable professionalism, Eventel will ensure a worry-free and hassle-free event at a reasonable price.

Event also has internal clients to serve. The event will strive to provide the same predictable and professional working environment to its employees and contracted vendors, justly compensating them for their services.

It is also a priority to make a comfortable living wage for its owners, founders, full-time staff, and their families.

Keeping in tune with the needs of the market, utilizing the latest technology and trends, all while ensuring the client receives the individual attention they deserve, is the vision and daily mission of Eventel; The Event Planning Specialists.

In addition to that, you can mention your startup summary and future business goals, as this section gives an in-depth overview of your business.

4. Conduct an Industry and Market Analysis

Starting an event management business requires a strategic events industry and market analysis. So, take some time to go further and locate more accurate data.

Try to include certain key elements in this section:

Market size and growth potential

You need to study specific data about various markets in which you are trying to get into and ensure profitability. So, describe your market size & growth potential and whether you will target a niche or a much broader market.

For instance, the USA industry revenue for event planners has grown at a CAGR of 4.1% over the past five years and reached $5.6 billion in 2023. So, it is crucial to define the target market segment.

Target market segment

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Do proper market research and try to create a buyer’s persona in terms of their demographic and psychographic profiles.

Take reference from the below example written using our innovative AI writing assistant :

Competitive analysis

Identify and analyze your direct and indirect competitors. Recognize their strengths & weaknesses, and describe what differentiates your business from other planners.

Direct competitors can be other event planning businesses, while wedding planners, local venues, caterers, or conference centers can be indirect competitors.

Point out how you have a competitive edge in the market, such as superior event management options, user-friendly methods/tools to book your services, and adequate pricing plans with better services.

Not only that, describe emerging market trends in the industry and explain how you will cope with all the directions. You can also list regulations and licensing requirements that may affect your company.

5. Describe your Product and Service Offerings

Next, specify the scope of your products and service offerings. As an event management business, you can describe the size and type of events you cater to, including a variety of event planning services.

This section must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors or readers understand the value of your business.

While drafting your  event planning services and products, you can take reference from the below example:

Eventel provides event planning in a wide range of applications. We guarantee satisfaction in the areas of appearance, performance, and taste. 

The following is a sampling of the types of events we plan every year:

• Corporate events or meetings, Training, and Retreats
• Conferences and Workshops
• Birthday parties, Anniversaries, Graduations, and Holidays
• Weddings, Receptions, and Showers
• Company picnics, banquets, and award ceremonies
• Caterer coordination and decor
• Trade shows and fashion shows

Effectively define your pricing plans for event planning services. Also, communicate your services to the customers by sharing a detailed description of the procedure you use while working with clients.

Mention if your event planning company offers any additional services. You may include services like lighting & sound, vendor negotiation, guest concierge services, etc.

6. Outline a Sales and Marketing Plan

Writing the sales and marketing strategy section means a list of tactics you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing strategies:

Social media marketing

Use social media platforms to present your company’s essence. Regularly post exquisite snapshots or videos of your planned social events, decor, and behind-the-scenes moments.

User-friendly website

Assure that your event management company has a user-friendly website that provides basic information about your services, pricing, and contact

details. Also, share informative blog post content or event videos.

Pricing strategy

Describe your pricing strategy—how you plan to price your services and stay competitive in the local market. You can mention any discounts you plan on offering to attract new customers.

Collaborations

Build an extensive vendor network to expand your reach and draw their existing customers. This might do wonders for your business and enhance your brand image.

Offline advertising

Effectively reach your target audience using offline advertising methods like brochures, newspapers, social gatherings, or events. Also, try to offer a personalized approach or stress-free planning to retain existing clients.

7. Introduce Your Team

A powerful management team is paramount for demonstrating your business’s ability to thrive in the event planning industry.

Letting your readers or investors know about your business leadership or key managers will help them have a clear idea of who is running your event planning company.

So, start this section by introducing key team members and highlighting their event planning skills & previous experience.

Jot down their qualifications and specific responsibilities. You can also shed light on how your experienced event planners contribute to the success of your business.

Next, describe the compensation plan for the leadership team and event planners, including salaries, bonuses, and other benefits. This can help key stakeholders to ascertain how much percentage is allocated to salaries.

If you have a board of advisors for your event management business, then mention them along with their roles and experience.

8. Outline Business Operations

Now, it’s time to outline the processes and procedures involved in your day-to-day business operations. Detail how you will eventually plan to manage your business effectively.

Staffing & training

Highlight your staffing needs by mentioning the number of employees, planners, or coordinators. Also, include their qualifications, the training required, and the duties they will perform.

Operational process

Outline the processes and procedures you will use to run your event planning business. It may include initial client meetings, decor, party favors, caterer coordination, set up/clean up, etc.

Equipment and machinery

You can also include the list of equipment and machinery required for event planning, such as office supplies, camera & photography equipment, event planning software, etc.

Explain how these technologies will help you maintain quality standards and improve the efficiency of your business operations. Refer to the below example written using Upmetrics AI assistant:

9. Prepare a Financial Plan

For a successful event planning business, you need to prepare a well-structured and in-depth financial plan with a realistic financial projection. It comes last in the business plan but is the most important section for investors.

So, mention all the below key components in your financial plan:

• Profit and loss statement
• Sales forecast
• Cash flow statement
• Balance sheet
• Break-even analysis
• Financial needs
• Tax considerations

From the above, you can identify the funding needs and evaluate the funding resources for your event planning company, including bank loans, SBA-guaranteed loans, angel investors, and personal savings.

In this section, you need to make a few assumptions. It will greatly affect the financial forecasts of your business. Refer below table to make important assumptions:

Well, having a realistic financial plan in your hand not only helps you present your business’s fiscal health but also emphasizes its sustainability.

However, calculating all the financial statements from scratch can be an overwhelming task. But, not to worry; use Upmetrics’ financial forecasting tool to formulate all your financial projections.

All you need to do is provide the information you have, and let the tool estimate financial factors, and create visual reports for you. No manual data entry, recalling Excel formulas, or preparing graphs—nothing.

Here’s an example of a projected cash flow statement for an event planning business:

Download Free Event Planning Business Plan Template

Need help writing your event planning business plan from scratch? Well, here you go; download our free event planning business plan template now and start writing.

This modern, user-friendly event management business plan template is specifically designed for your event business.

With a step-by-step guide and example, it assists you in creating your own plan without missing any crucial details.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Prepare Your Business Plan with Upmetrics AI

Finally! You know how to write an event planning business plan with the help of our free sample business plan template. So, you are one step closer to starting or growing your business confidently- pretty exciting, right?

But you know what else is exciting? Your business planning process can be even faster and easier than this. Yes, you heard it right; it’s possible with the power of the Upmetrics AI assistant tool .

So, take a sigh of relief and focus only on planning the most happening events in the town!

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Frequently asked questions, what are the key components of an event planning business plan.

Writing a professional event planning business plan involves the following key components:

• Executive summary
• Company overview
• Industry and market analysis
• Product and service offerings
• Sales and marketing plan
• Management team
• Business operations
• Financial plan

How often should I update my Event Planning Business Plan?

Your event planning business plan should be reviewed and updated at least once in a year or more often if there are significant changes in your business environment or services.

What are some tips for writing an Event Planning Business Plan?

Consider the following factors before writing an Event Planning Business Plan:

• Define your niche and business objectives
• Clearly mention unique selling points
• Be realistic in the financial statement
• Understand your target customer
• Stay agile in a dynamic industry

How much does it cost to start an event planning business?

A fair estimation for an event planning business can range from a few thousand to tens of thousands of dollars. It can vary widely depending on office space, equipment, and initial inventory.

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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How to start event management business in India

Radha Dhaked | August 22, 2024 May 11, 2022 | Business Plan and Project Report , Business Updates

An event management firm can be a good fit if you have a talent for organizing events, making connections with people, and planning speeches and pitches. In this article, you will learn to start an event management business in India.

Scope of Event Management Industry in India

The field of event management is booming. Industry-wise, it’s a massive one.  However, The market is customer-specific because customers have higher purchasing power and a cheap cost of switching brands.

Running, music, fashion shows, and trade fairs are among the fastest-growing divisions of the entertainment industry. Due to rising business and family incomes, as well as an increase in the number of reality programmes, sports events, corporate conferences, and awards, the present rise in these event sectors is aided. People’s spending on social and personal events, such as weddings and parties, tends to rise in tandem with their wealth.

In recent years, the number of events has increased dramatically due to the rapidly expanding Indian economy. This has led to an increase in the need for skilled event managers. Future event organizers will need to be more inventive and industrious in order to keep up with the rising demand.

Event management has grown to be a lucrative business with so many events happening all the time. It has been reported by the EY-EEMA research that the event industry has grown at a compound annual growth rate of 15% over the past five years and is predicted to increase at a pace of 16% over the next few years. The industry’s present worth of Rs. 5, 631 crores will rise to more than Rs. 10,000 crores by 2021, thanks to this CAGR.

Steps to start event management business in India

Create a detailed company strategy

To get started, look at successful projects and enterprises in your field of expertise. Contact others in the events business to see if they have any suggestions.

Additionally, if you’re looking to raise money for your firm, an updated business plan is essential.

You should also consider company formation type here and also get logo designing to make your company unique and different from the competition.

Get Company Registration

The Company’s Act mandates that new businesses be registered. An Indian partnership must be registered under the Indian Partnership Act in order for it to operate. The ‘Shops and Establishment Act’ makes it obligatory to register any new business in India. An event management firm is no different from any other business organization. As a result, all of the regulations and procedures that apply to forming a new business in India will also apply to an event management firm.

You must also decide on the sort of business you want to start. Non-public (or public) companies can be either single proprietorships, partnerships , or limited liability companies .

Consider the structure’s investment, responsibility, taxation, and ownership and control when choosing a business structure for an event management company.

This stage of registration is critical because a business owner wants to protect their company name before using it in other papers or advertising.

Apply for Tax Registration

An event management firm pays taxes including Taxable Income, TDS (tax deducted at source), GST, Amusement Tax, and TCS.

You will need to apply for a PAN card for submitting income tax returns and a TAN card to claim the TDS refund. You’ll also need to apply for a GST number through GST Registration , which will allow you to file your taxes.

A skilled Chartered Accountant will be able to aid you in completing these processes and also educate you on all the legalities.

Obtain Mandatory Licenses

An event management company should have the proper licenses. Thus, the next step is to organize all of the paperwork. Event management companies are required to hold specific licenses before they may host or organize an event. Some mandatory licenses that you may need to obtain are:

• “No objection certificate” from the Additional Collectors office, the fire brigade, the local police station, the traffic police department, and the Rangbhoomi license is required for this project.
• The Indian Contract Act 1872, which governs the contracts between event planners, hotels, and performers, is also critical.
• Additionally, if you want to serve alcoholic drinks at your event, you must get a liquor license and a public works department license.

Market your business

Plan a marketing strategy and make use of a public relations firm if at all possible.

Depending on the size of your business, your marketing budget could account for as much as 30 percent of your total costs. Consider everything you’ll require:

• Website Development
• a set of company cards
• Printouts such as brochures
• Ads on the internet and online marketing
• Expenses associated with attending networking events

Get Certifications

There are a variety of certifications available for event planners from a variety of organizations. When you’re just starting out, having a professional reputation and a high level of credibility are two things you want to strive towards. One of the best certifications is the ISO Certification event management company in India.

Final Remarks

India’s economy is unquestionably one of the world’s most rapidly expanding. In terms of growth potential, starting a firm here is a great idea. The event management profession has grown rapidly in recent years, but if you want to be at the top of your game, you’ll need to have the training, experience, and legal registrations to succeed.

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How to Start Event Management Business: 6 Essential Steps to Launch Your Event Planning Career

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The event management industry in India is a thriving market, catering to a large and diverse population with a year-round calendar of cultural events. Given the constant demand for event management services, starting your own event management business in India can be a lucrative opportunity.

To help aspiring entrepreneurs navigate the process, this article provides essential insights into the key considerations for launching an event management business in India. From legal requirements to target markets and competition, we’ll guide you through the necessary steps to set your event management business up for success.

How to Start Event Management Business in India

Conduct market research.

Conducting thorough market research is a crucial step for any entrepreneur looking to start an event management business in India. It involves assessing the demand for different types of events, including corporate, social, and cultural events, in your target market. To gain insights on customer preferences, conducting surveys and focus groups can be effective methods. Additionally, analyzing the geographical location and seasonality of events can help determine the best times and locations to hold them.

Another critical aspect of market research is identifying the appropriate pricing strategy for different events, ensuring profitability while remaining competitive. By conducting comprehensive market research, you can gain a deeper understanding of the industry and make informed decisions about the direction of your business. As an entrepreneur, it is crucial to conduct extensive research to identify opportunities, gain valuable insights, and make well-informed decisions, ultimately leading to a successful event management business in India.

Create a Business Plan

Creating a sound business plan is crucial for laying a solid foundation for your business , especially when starting an event management company. With the right plan in place, you can set your company on a path to success. A comprehensive business plan should establish your mission, vision, and values, define your target market and customer personas, and include a SWOT analysis to evaluate your business’s strengths, weaknesses, opportunities, and threats.

This analysis will guide your decision-making and help you develop strategies to manage risks. Additionally, it’s essential to set SMART goals that are specific, measurable, achievable, relevant, and time-bound to remain focused and track your progress over time. By investing time and effort into developing a robust business plan, you can gain a clear understanding of your business objectives and strategies, and create a roadmap for sustainable growth and success.

Register Your Business

When it comes to starting an event management business in India, registering your business is an essential step that can help establish credibility and legitimacy. This involves choosing a unique and memorable business name and logo that will resonate with your target audience and help differentiate your brand from competitors. Additionally, selecting the appropriate legal structure such as sole proprietorship, partnership, or private limited company can impact your liability, taxes, and other legal obligations.

Obtaining a PAN (Permanent Account Number) and GST (Goods and Services Tax) registration is also crucial to comply with government regulations and ensure smooth business operations. Finally, applying for insurance coverage for the business and employees can protect against potential risks and liabilities.

Build Your Team

Building a competent team is crucial to the success of an event management business in India. To ensure that your team is well-equipped to handle the demands of your clients, it is important to hire event coordinators, planners, designers, and technicians who possess the necessary skills and experience. This can involve creating detailed job descriptions and employment contracts that clearly outline the roles and responsibilities of each team member.

Additionally, conducting thorough background checks and interviews can help you find the best candidates for each position. Once your team is in place, providing ongoing training and development opportunities can help them stay up-to-date with industry trends and techniques, and improve their performance on the job. By building a strong and reliable team, you can establish a solid foundation for your event management business and ensure the success of your events.

Promote Your Business

When starting an event management business in India, it’s crucial to prioritize promoting your brand in order to attract new clients and build a reputation in the industry. One effective approach is to develop a content marketing strategy that highlights your brand’s expertise and creativity. This can involve creating informative blog posts, engaging social media content, and visually appealing case studies that showcase your event planning capabilities.

Additionally, offering referral incentives and loyalty programs can encourage clients to spread the word about your business and keep coming back for future events. Participating in industry events, trade shows, and conferences can also help build your reputation and establish valuable connections with potential clients and partners.

Finally, collaborating with complementary businesses such as caterers, photographers, and florists can enhance the overall experience for your clients and lead to more referrals and repeat business. By implementing a comprehensive promotional strategy, you can increase visibility and attract a wider range of clients to your event management business in India.

Financing Your Business

Establishing an event management business in India requires strategic financing to set it on the path to success. Researching various financing options is critical to determining the most appropriate approach for your business requirements. Personal loans, equipment financing, and lines of credit are among the popular options to consider. Evaluating the interest rates, fees, and repayment terms associated with each option can guide you towards an informed decision.

Additionally, crafting a comprehensive financial plan and projection for the business is essential for securing funding from investors or lenders. Your plan should highlight the anticipated expenses and revenue projections, as well as demonstrate your capacity to repay the loan. Building a solid credit score and maintaining financial discipline are crucial to securing future financing. By carefully considering your financing options and creating a solid financial plan, your event management business can be well-positioned for success.

Final Thoughts

Starting an event management business in India can be a challenging but rewarding experience. By following the steps outlined above, you can establish a strong foundation for your business and set yourself up for success. Remember to stay focused on providing high-quality services and building strong relationships with your clients and vendors. With hard work and dedication, you can turn your passion for event planning into a thriving business that makes a difference in people’s lives. So go ahead and take the first step towards your dream – who knows where it might lead?

Shiv Nanda is a financial analyst at MoneyTap who loves to write on various financial topics online. He also advises people on financial planning, investment choices and budgeting skills, and helps them make their financial lives better.

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How to Start Event Management Business in India

Event management is a thriving industry in India. With a large population and a diverse range of cultural events taking place throughout the year, there is no shortage of demand for event management services.

If you’re thinking of starting your own event management business, there are a few things you need to know.

Here, we’ll take you through some of the key considerations for starting an event management business in India.

From understanding the regulations to putting together a winning team, we’ll cover everything you need to get started on your event management journey.

What is Event Management?

Event management is the process of planning, coordinating, and executing events. It can include anything from weddings and corporate functions to music festivals and sporting events. To be a successful event manager, you need to be organized, creative, and detail-oriented. You also need to be able to work well under pressure and handle last-minute changes. Good people skills are essential, as you will be dealing with a variety of clients and vendors. If you’re thinking of starting an event management business in India, there are a few things you need to keep in mind.

 First, you will need to obtain a license from the Ministry of Tourism. Second, you will need to find a good location for your business. And third, you will need to create a detailed business plan. With the right planning and execution, an event management business can be quite successful in India.

The Process of Setting up an Event Management Company in India

The process of setting up an event management company in India can be divided into four main steps: 

Choose the right business structure: 

When choosing the right business structure for your event management company, you need to consider factors such as the size and scope of your business, your financial situation, and your liability concerns.

The most common business structures for event management companies in India are sole proprietorships, partnerships, private limited company, limited liability companies (LLCs), or limited company.  Obtain the necessary licenses and permits: Once you have chosen the right business structure for your company, you will need to obtain the necessary licenses and permits from the government.

Depending on the type of events you will be managing, you may need to apply for a trade license, a food license, or a liquor license.

Create a marketing plan

A good marketing plan is essential for any successful business, and this is especially true for event management companies.

You need to identify your target market and come up with creative ways to reach them. You should also create a strong online presence by setting up a website and social media accounts. 

Research Your Market

Before you start your event management business, you need to understand your target market. Who are they? What do they want? What are their pain points? Researching your market will help you determine how to best serve your target audience. You’ll be able to identify their needs and craft solutions that address those needs. Additionally, you’ll be able to position your business in a way that resonates with your target market. There are a number of ways to research your market. You can start by conducting online research. Look for blog posts, articles, and forums where your target market hangs out. See what kind of problems they’re discussing and look for patterns. You can also reach out to people in your target market directly. Ask them about their experiences with event planning and get their input on what would make the perfect event planning company. Be sure to listen more than you talk in these conversations; you want to gather as much information as possible. Finally, don’t forget about secondary research. This includes things like industry reports, demographic data, and other data that can help you understand your target market better.

Once you’ve gathered all this information, take some time to analyze it and look for key insights that will help guide your business decisions.

Outline your business plan

When starting any business, it is important to have a plan in place. This will help you to map out your goals and objectives, and keep you on track as you work towards making your event management business a success. To help you get started, we have put together a list of things that should be included in your business plan: Executive Summary This is a brief overview of your event management company, including what you do and your company philosophy. It should also include your key team members and their roles within the company. Company Description In this section, you will need to provide more detail about your event management business. This will include an explanation of the services you offer, as well as information on your target market and how you intend to reach them. Market Analysis It is important to carry out research into your target market before starting your event management business. In this section of your business plan, you should include information on who your target customers are, what their needs are, and how you intend to meet those needs. Sales and Marketing Strategy Your sales and marketing strategy will outline how you intend to generate leads and convert them into customers. It should include information on your promotional activities, as well as details of your pricing structure. Operational Plan This section of your business plan will provide details on how you intend to run your event management company on a day-to-day basis. It should include information on your premises, staff, and any equipment or resources you require.

Financial Plan Your financial plan will outline your start-up costs and how you intend to finance your event management business.

It should also include your sales and marketing budget, as well as your projected income and expenditure for the first few years of operation.

Develop the Event Planning skills

In order to start an event management business in India, it is essential to develop strong event planning skills.

This involves being able to understand the needs of clients and then creating a detailed plan that will ensure the successful execution of the event. Strong event planning skills also involve being able to work with a variety of different suppliers and vendors, in order to get the best possible deals for your clients.

It is also important to be able to manage budgets effectively and have a good understanding of the legalities involved in running an event management business.

Name your Event Management Company

Choosing a name for your event management company is an important first step in starting your business.

It’s a good idea to choose a name that reflects your company’s mission and values. Here are a few things to keep in mind when choosing a name for your event management company:

• Make sure the name is easy to remember and spell.
• Choose a name that stands out from the competition.
• Avoid names that are too specific to one type of event or location.
• Consider using a slogan or tagline along with your company name.

Register your business

When you’re ready to start your event management business in India, the first step is to register your business. This can be done online through the Ministry of Corporate Affairs (MCA) portal. Once you’ve registered your business, you’ll need to obtain a few other licenses and permits before you can start operating.

These include a fire safety license, a food license (if you’ll be catering events), and an alcohol license (if you’ll be serving alcohol at events). After you’ve obtained all the necessary licenses and permits, you’re ready to start marketing your event management business!

Decide the event services you will be offering

When starting an event management business in India, it is important to decide what services you will be offering.

There are many different types of events that you can manage, from corporate functions to weddings.

It is important to have a clear idea of the type of events you want to specialize in so that you can market your business accordingly. Some event management businesses may choose to offer a comprehensive service that includes planning, coordination, and execution.

Others may choose to focus on specific aspects of event management such as venue selection, catering, or entertainment.

It is important to consider what skills and resources you have available before deciding on the services you will offer. Once you have decided on the services you will offer, it is important to create a portfolio that showcases your work.

This will help potential clients see the quality of your work and decide if you are the right event manager for their needs.

You can create a website or blog to showcase your portfolio, or use social media platforms such as Facebook, Instagram, LinkedIn or Twitter.

Hire reliable staff 

Last but not least, you will need to hire reliable staff members who are experienced in the field of event management. The size of your team will depend on the scale of the events you plan on managing.

Prepare your Event Planning Fees structure

As an event planner, you will need to charge for your services in some way. There are a few different options for structuring your event planning fees, and the method you choose will likely depend on a number of factors, including the size and scope of the event you are planning, your location, and the overall market for event planning services in your area. One common fee structure is to charge a percentage of the total budget for the event. This can be a flat percentage or a tiered percentage, based on the size of the event.

For example, you might charge 5% for events with budgets under 2,00,000, 10% for events with budgets between 2,00,000 to 5,00,000, and 15% for events with budgets over 5,00,000. Another option is to charge an hourly rate for your services. This can be a flat rate that is applied to all hours worked on the event, or it can vary based on the type of work being done (with more complex tasks commanding higher rates).

For example, you might charge 3,000 per hour for general planning and coordination services, 5,000 per hour for design and décor services, and 10,000 per hour for full-service planning (which includes everything from budgeting and vendor management to day-of coordination). Whatever fee structure you choose, make sure it is clearly laid out in your contract with clients so there are no surprises down the road.

Marketing your Event Management Company

As an event management company, marketing your business is essential to finding clients and growing your company.

There are a number of ways to market your event management company, including online and offline marketing strategies.

Online Marketing Strategies

One of the best ways to market your event management company is through online channels. By creating a strong online presence, you can reach a larger audience and build trust with potential clients. Here are some online marketing strategies to consider for your event management company: -Create a website: Your website is one of the most important tools for marketing your event management company. Make sure your website is professional and easy to navigate. Include information about your services, pricing, and contact information. -Start a blog: A blog is a great way to share helpful tips and advice with potential clients. Write posts that focus on topics related to event planning and management. For example, you could write about choosing the right venues, budgeting for events, or managing guest lists. -Use social media: Social media platforms like Twitter, Facebook, and LinkedIn are powerful marketing tools. Use them to connect with potential clients and promote your services. Make sure to post interesting content that will engage your audience.

Offline Marketing Strategies

In addition to online marketing strategies, there are also several offline methods you can use to market your event management company.

Offline marketing can be especially effective in building personal relationships with potential clients. Here are some offline marketing ideas for your business

With the right planning and execution, starting an event management business in India can be a very lucrative endeavor.

There are many opportunities for growth and success in this industry, and with the tips we’ve shared in this article, you’ll be well on your way to getting started. Thanks for reading!

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How to Start an Event Planning Business: Your Comprehensive Guide Not sure how to become an event planner? Use this step-by-step guide to launch your event planning business from scratch.

By Laura Tiffany Edited by Brittany Robins May 21, 2024

Key Takeaways

• Event planning can be a great business if you have the right skills.
• People need help executing personal and professional events of all sizes.
• Based on how you structure your business, your startup costs will vary.

Opinions expressed by Entrepreneur contributors are their own.

Some people have a special ability to plan parties — whether they be weddings, large corporate events or smaller gatherings. If you have a knack for tackling complex problems and making big days run smoothly, you might have a future as a professional event planner. Whether you choose to work alone or with a team, starting an event planning service is no small task. Here are some important questions to consider before launching an event planning business, and a step-by-step guide to starting and scaling your business.

Related: Find Your Event-Planning Niche

What is an event planning business?

Event planning is the art and science of ideation, planning, coordination and operation. When a major event needs to run smoothly — whether it's a trade show, nonprofit gala or a major anniversary — people will enlist an event planning service or coordinator. Event planners are key service providers who ensure event production and execution goes off without a hitch , most often used for purposes like:

• Corporate events, like after-work cocktail hours and galas.
• Educational conventions, like graduations or conferences.
• Major promotional events including product launches and fashion shows.
• Celebrations and social events including parades, weddings, birthdays and reunions.

The primary duties of full-time or part-time on-site event planners include:

• Researching venues and vendors prior to the event.
• Selecting the appropriate site for the event.
• Event design and team-building for project management.
• Creating budgets and running fundraisers if necessary.
• Coordinating decor, entertainment and food for the event.
• Sending invitations to attendees.
• Coordinating transportation for attendees to and from the event.
• Arranging accommodations, including seating charts and place settings.
• Coordinating tasks for onsite event personnel, including caterers or entertainers.
• Being on call for any questions or problems that arise in the event-planning process.
• Supervising activities at the event site.

Why do people hire event planning services?

People primarily hire event planning services for two reasons: So that hosts and guests don't have to focus on the inner workings of the event, and so that the event runs smoothly from beginning to end.

Consider a wedding. Many engaged couples hire event planners or event planning services to coordinate, organize and carry out their wedding plans. This helps the couple enjoy their special day and gives them the freedom to focus on getting married rather than worrying about details like catering, parking or the timeline.

Some events are so complex — particularly those with hundreds of guests or more — that it's almost impossible to properly plan and organize them without the help of a specialist. Knowledgeable, experienced event planners know how to organize groups of people, how much food to provide and other details that can make or break an important event.

Related: The Price Is Right: Turning a Profit in the Event Planning Business

Who should become an event planner?

You might consider becoming an event planner if you're organized, love hosting parties and find the challenge of coordinating large events to be thrilling. Planners handle many moving parts at once, some of which require overseeing chaotic work and competing agendas. Event planners also often work weekends and holidays since these are the days when most people schedule events.

Many event planners have backgrounds as managers or coordinators in other industries. The events industry, both for wedding planning and other events, requires excellent communication skills. Obtaining a bachelor's degree in public relations , marketing or related fields can be helpful but is not required. You should also consider acquiring certification for your event planning service, as it can help you cultivate relevant professional skills and attract more job opportunities. Meeting Professionals International (MPI) offers a list of degrees and certificates from various colleges and universities.

You can also become a Certified Special Events Professional or Certified Meeting Planner , both of which are offered by the MPI or the International Live Events Association (ILEA). By earning these certifications , potential clients will know you have the training and experience necessary to take on a complex event.

How to start an event planning business

Step 1: form your company.

To get your event planning business off the ground, you must first form a company, file the right paperwork and create a business plan — which should include the following details:

• The business's name.
• The business's tax structure (Sole proprietorship, LLC, S corp etc.).
• What services you'll provide.
• Market research .
• A management plan.
• Financial factors, including how you'll turn a profit.

Related: Check out these business plan templates to get started.

You'll also want to apply for an employer identification number (EIN), which is essentially a social security number for your business assigned to you by the Internal Revenue Service (IRS). This will allow you to operate your business independently of your personal affairs, help you hire employees and make it easier to file taxes quarterly.

Step 2: Choose your target market

Building on the research you performed to create your business plan, it's essential to find the right market for your services. For instance, if you want to primarily work with weddings, you need to determine how many other planners are in your area, how much you should charge for your services and what offerings you'll need to be competitive.

By doing enough research ahead of time, you'll know exactly what kind of clients to target and what their expectations will be. This will help you advertise your event planning service to be competitive relative to other local planners.

Step 3: Make a financial plan

When you start an event planning business, you'll have to consider not only startup costs but also how the enterprise will grow and how many clients you'll need in order to be profitable. For instance, working from home and primarily by yourself will keep costs low. But if you hire employees, rent office space, or expand to new markets, your monthly expenses will significantly increase – all of these things can add up.

You can always scale your business after acquiring steady work. You may start off as a one-person event planning service that only takes on small events. As you earn money from successful jobs, you can hire employees and rent a warehouse for your equipment, like cameras, chairs and more. You don't have to have all of the growth questions answered when you launch your business, but you should at least have them in mind.

Step 4: Understand the work involved and consider hiring employees

For your event planning service to be successful , you need to fully grasp the nature of each job and determine if — or when — it's time to hire employees. This will vary event to event, so you'll need to determine how much work each event will require. Even the smallest event demands careful attention to detail and advance planning, but as you acquire experience you'll become more adept at forecasting how much help you'll need, if any. For instance, you might hire two or three people to be on-site for a specific event, just to make sure things run smoothly.

Related: The Event Planning Recipe for Success

Step 5: Settle on a price structure and fee basis

How you price your event planning offerings will impact how much business you attract. You can determine your pricing structure and fee basis by things like:

• The market segment you serve: For instance, nonprofit events may have different fee structures than weddings or corporate events. By understanding your event type, you'll know how much to charge and how to structure your fees.
• Your location: If you live in a place with a higher cost of living or a competitive events market, you'll need to price your services accordingly.
• Your reputation: As your business gains a reputation for success — and especially if you're so busy clients are competing for your services — you'll be able to charge a higher premium.

Step 6: Start marketing your event planning service

Once you know how much to charge your clients, it's time to start marketing your event planning service. Consider using tools like Google ads, social media profiles and other digital marketing efforts like email to get the word out about your business. You may even consider newspaper ads, flyers in public buildings or other traditional low-cost marketing tactics . As your business grows, so too will your reputation, meaning you'll likely have to spend less on marketing once you're known. Before you get there, though, it's important to dedicate significant time and resources to marketing your services (learn more here about the tools and strategies that should be part of creating your marketing plan).

Related: 8 Savvy Ways to Promote Your Event Planning Business

Costs of starting an event planning business

The costs of launching your business will vary greatly based on where you live, what kind of clients you work with and how large you intend to scale your operation. At a minimum, you'll need to pay fees to incorporate your business , purchase basic technology like a computer, buy business insurance and spend money advertising. But there are many other potential costs, including certification programs, hiring additional employees , renting office space and more. Here's a breakdown of common expenses associated with event planning, as well as a range of what it might take to get your enterprise off the ground.

Consider Startup Costs

As with any business, the startup costs for event planning vary by the region, the size of your operation and the type of clients you attract. Below are estimates that will help you determine what you can expect to spend in your first year.

*All figures are estimates and subject to change based on factors including location, business size and clientele.

Check out Entrepreneur's other guides and resources today.

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How to Start an Event Planning Business: The Ultimate Guide

It's no surprise that starting an event planning business involves many moving parts. It can feel overwhelming, from identifying your unique selling proposition and having all the key skills to executing flawless events to getting all the required compliances. But not anymore. 

In this guide, we'll discuss everything about  event planning  and provide a step-by-step guide on how to start your own event-planning business. This post covers everything from determining profitability to understanding the skills you need to run a successful business.   

But before you dive headfirst into how to start an event planning business, let's take a step back and understand the basics. 

What is Event Planning in Business?

If you plan to start your event planning business, you probably know the answer to this question. Event planning involves managing the details of large or small events, including meetings, conferences, or parties. This business is typically utilized for: 

• Large educational meetings, such as graduations or conferences.
• Major promotions, including marketing events, product launches, and fashion shows.
• Corporate events , like after-work cocktail hours, trade shows, galas, and more.
• Celebrations and social events like parades, weddings, birthdays, reunions, and more. 

What Do Event Planning Businesses Provide?

As an event planner, you are expected to work with clients to understand their requirements and goals and then provide end-to-end event planning and execution services to ensure the seamless and successful execution of in-person or virtual events . 

Some of the services you must include are:

• Event management and coordination
• Theming, décor, and styling
• Conferencing and exhibitions
• Signage and branding
• Entertainment and talent management
• Venue sourcing and management
• Catering and food & beverage management
• Audio-visual production and management
• Logistics and transportation management
• Budgeting and financial management
• Marketing and promotion
• Security and risk management
• Registration and guest management
• Post-event evaluation and reporting 

Why Do People Hire Event Planning Businesses?

There are two primary reasons why people hire event planning services: 

• To allow event attendees and guests of honor to thoroughly enjoy themselves without worrying about event logistics. 
• To ensure that the event runs without any glitches. 

Consider a typical corporate conference, for example. 

A business may hire your services to create a stellar multi-day conference while their employees and attendees can focus on networking or learning. This way, they don’t have to worry about details like catering, keynote speakers, registration, and managing the event schedule. 

Advantages and Disadvantages of Starting an Event Planning Business

As with everything, the event planning business also has advantages and disadvantages. Some of them are: 

• Enjoy the freedom to choose who you work with, where you work, and how you manage your schedule.
• Pull off a showstopping event, and chances are your clients will return repeatedly, thus building loyalty.
• Event planning business lets you unleash your creativity as you get to design events that are unique and unforgettable for your clients. 
• Establishing relationships with reliable vendors takes time, especially in a crowded market.
• Growing your business needs adding resources or raising prices, which can be tricky.
• Most of the time, although the planning takes place in advance, you must ensure your presence in the field during the event—meaning long working hours, even on evenings and weekends. 

How to Start an Event Planning Business

Here are some steps to help you start an event planning business: 

Evaluate your  event planning skills.

Event planning involves many tasks beyond the glamor of parties and events. To be successful, you must be able to handle various responsibilities. After all, successful event planners are masters of multitasking, with a talent for keeping calm under pressure. 

For example, you’ll need to create an event theme or design, find a venue, arrange entertainment, book vendors, send RSVPs and marketing information to attendees, and balance the budget. The list goes on. 

If you're unsure whether you possess all the necessary event planning skills , consider gaining some hands-on experience. Perhaps shadow an experienced planner, assist with events at a local organization, or even volunteer for a nonprofit event. 

Create your event planning business plan.

A well-structured business plan is the foundation of any successful venture, and event planning is no different. Consider it your roadmap to success. Here are the key sections to include: 

• Executive Summary:  Summarize your business concept, goals, and what sets you apart.
• Overview : Outline your company background, structure (e.g., sole proprietorship), and essential details.
• Industry Analysis : Demonstrate your understanding of the local event planning market, including potential clients and event trends .
• Competitive Analysis: Examine your competition, identifying their areas of strength and areas you can exploit.
• Marketing : Craft a strategy for attracting clients—how will you make them aware of your exceptional services?
• Management: Detail your unique experience and skills.
• Operations Plan : Describe your day-to-day process for planning and executing events.
• Financials : Project your income, expenses, and profit expectations over your initial years of operation. 

Find your event planning niche.

Finding your niche is how you stand out from the rest—it helps you specialize in a specific subset of the broader event planning industry. Also, it becomes easier for your target market to find you. Common niches and event types include: 

• Business event planning:  Award ceremonies, charity and nonprofit events, corporate bonding retreats, meetings and seminars, conferences, grand openings, fashion shows, experiential events, holiday parties, networking events , trade shows, and VIP events. 
• Private/social event planning:  Weddings,   anniversaries, holiday parties, baby showers, theme parties, wedding/bridal showers, bachelor/bachelorette parties, milestone birthday parties, and murder-mystery parties. 

Identify your unique selling proposition.

Identify your event planning business’ unique selling proposition (USP) to set yourself apart from your competitors. It is the reason why clients should choose your company over others. 

Here’s how you can define your USP: 

• Identify your target market:  The first step in uncovering your event planning USP is to identify your target market. Who are your ideal clients? What type of events do they typically host? What are their pain points and needs? Understanding your target market lets you tailor your services to your client's needs and preferences. 
• Analyze your competition:  The next step is to analyze your competition. Who are your competitors? What services do they offer? What is their pricing strategy? What are their strengths and weaknesses? Understand your competition to identify gaps in the market and ways to differentiate your business. 
• Determine your unique strengths:  What sets your business apart from your competitors? What unique strengths do you bring to the table? It could be your expertise in a particular type of event, your creative approach to event design, your extensive network of vendors, or your exceptional customer service. Identify your unique strengths and use them to craft a compelling USP.

Consider funding and costs.

The events business can be lucrative, but getting started requires smart financial planning. Calculate your initial startup costs carefully. Price your services strategically so you cover expenses while remaining competitive. If number crunching isn't your strong suit, invest in a bookkeeper or accountant early on.

While exact costs vary by location and services offered, here's a ballpark range to get you thinking:

• Rent: $0 to $2,300
• Equipment: $5,000 to $17,000
• Inventory: $0 to $500
• Licenses and Taxes: $250 to $350
• Communications: $100 to $250
• Payroll: $0 to $4,000
• Advertising/Promotion: $500 to $2,000
• Legal Fees & Accounting: $650 to $1,500
• Insurance (1st Quarter): $800 to $1,700
• Miscellaneous: $750 to $1,500
• Total: $8,050 to $31,100 

Remember, startup expenses don't have to be astronomical. Begin with the essentials, and scale up as your business grows.

Structure your pricing strategy.

Pricing your services is an art and a science. Factor in your location (cost of living varies), your experience level, and what your competitors charge. Most importantly, ensure your pricing allows you to cover costs and earn a worthwhile profit while remaining attractive to clients. 

Remember, transparency is key—explain your fee structure clearly so there are no surprises later on.

Here are some common pricing models for your consideration: 

• Hourly rate: Ideal for projects where the scope is difficult to predict upfront. Rates typically range from $25 - $100+ per hour, depending on your skills and the complexity of the event. 
• Flat fee:  A single charge covers your planning services. This works well for events with well-defined parameters. Sometimes, planners add a percentage of vendor fees to ensure sufficient compensation. 
• Percentage of the event:  Typically, this will be 15-20% of the total event cost. Such pricing structure is common for complex events, as your fee scales alongside the project.  
• Day-of coordination:  A specialized service, handling the on-site logistics on the day of the event itself. 
• Vendor commission:  In this model, your income comes from commissions from selected vendors, rather than directly from the client. This requires careful negotiation and transparency with all parties involved. 

Obtain necessary legal documents and permits.

Don't neglect the legal side of your business. Taking these steps protects both you and your clients from potential issues:

Register Your Business :   Choose a legal structure (LLC, Sole Proprietorship, etc.) that's right for you, and register officially with your state. Obtain a tax ID—essential for everything from opening a bank account to filing taxes. 

Obtain Necessary Permits : The red tape of event planning might not be glamorous, but it's crucial. Permits vary by location, so contact local authorities to learn exactly what you need. Common examples include: 

• Building permits (tents) for outdoor events that require tents.
• Business license to operate legally.
• Event permits vary by city, so contact the local government for relevant ordinances.
• Noise permit if your event is outside.
• Fire/fireworks permit, which you must check with your county.
• You can get a health permit from your county’s health department.
• You need a liquor license if you plan to serve alcoholic beverages. 
• Seller’s permit, which you may need as an event planner.
• Temporary use/structure permit for vacant land or temporary space for loading areas, vendors, and parking. 

Get your event planning business insured.

Obtain insurance coverage for your event planning business to protect yourself and your clients from unexpected incidents. Here are some important coverages to consider:

• Workers' compensation:  This is mandatory in all states. It protects your employees (and yourself, if you count as an employee) in case of work-related illness or injury.
• General liability insurance:  A must-have for any event planning business. This protects you from claims of property damage or bodily injury at an event you organized. 
• Property insurance:  Safeguard your equipment (tables, chairs, laptops, etc.) from theft, fire, and other unexpected events.
• Business interruption:  If unforeseen circumstances force you to temporarily shut down, this can provide financial support. Think of it as backup income if things go awry.
• Business Owner's Policy:  This bundles several important coverages into one convenient package, often at a good value. 

Market your event planning business.

Once your business is set up, it's time to attract those exciting new clients. Here are some strategies to get you started:

• Build a Website: Your website is your online storefront. Services like Weebly and Squarespace make it easy, even if you're not tech-savvy. Invest time in making it visually appealing and easy to navigate.
• Boost Your Online Presence: List your business on directories like Yelp, Eventective, and Google My Business. This helps potential clients discover you when they're searching for event planners in your area.
• Get Social: Create engaging profiles on relevant platforms (Instagram, Pinterest, Facebook, etc.). Share social media-worthy photos, behind-the-scenes glimpses, and client testimonials.
• Traditional Marketing Still Works: Don't underestimate the power of beautifully designed brochures, flyers, and business cards. Distribute them strategically at local businesses or events.
• Get Referrals: Happy clients are your best advertisement. Encourage them to leave glowing reviews, and feature video testimonials on your website and social media.
• Strategic Partnerships: Caterers, photographers, venue owners—these businesses have the same clientele as you. Build relationships and create a referral network to mutually benefit. 

Related: Read some practical  event planning tips  for before, during, and after the event. 

What skills do you need to run an event planning business?

The basic skills needed to run an event planning business effectively are primarily soft skills, such as organizational skills, business management skills, and presentation skills. Here are some necessary skills to run an event planning business successfully: 

• Attention to detail
• Customer service
• Education (staying updated on event trends) or experience
• Interpersonal relationship skills
• Negotiation
• Organization
• Under-pressure performance 

Is an event planning business profitable?

Event planning has the potential to be a very profitable business venture. The fact that  89% of event and meeting leaders  consider in-person events crucial for revenue growth demonstrates the ongoing demand for well-planned events. 

However, the profitability of your event planning business will depend on several factors. The key to success lies in your ability to command premium rates for your services while keeping your expenses in check.            

What does an event planning business do?

An event planning business organizes and coordinates various aspects of events for individuals or organizations. This includes selecting venues, arranging catering and other vendors, creating event schedules and itineraries , managing budgets, and ensuring all necessary equipment and supplies are available. 

Do event planners travel a lot?

Event planners may travel depending on the nature of the events they plan. Some events may occur locally, while others may require travel to different cities or countries. Ultimately, the amount of travel required will depend on each event's specific needs and requirements. 

The Future of Event Planning is Yours to Create

The event planning industry offers vast opportunities for those with an eye for detail, a flair for organization, and a knack for staying on budget. Whether your heart lies in orchestrating sleek corporate events or bringing dream weddings to life, the skills you hone as an event planner are valuable in countless contexts. 

A carefully crafted business plan, paired with smart marketing and a dedication to providing exceptional experiences, can turn your passion into a truly successful venture. Find your niche, or cast a wide net—the choice is yours.

If you're ready to take the leap into the world of event planning, don't hesitate. Use this guide as your springboard. With hard work, a little business savvy, and a genuine love for creating memorable moments, there's no limit to what you can achieve.  

Up next, learn some  best practices in event management to create scalable and successful event strategies for your business.

John Hunter

John is the Senior Manager of Event Cloud Content Marketing at Cvent. He has 11 years of experience writing about the meetings and events industry. John also has extensive copywriting experience across diverse industries, including broadcast television, retail advertising, associations, higher education, and corporate PR.

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How to create a post-event report that proves roi, teambuilding through culinary experiences in seattle southside, how to measure and calculate trade show roi.

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Essentials Of An Event Management Business Plan

Man is a social animal which makes social gatherings an inevitable part of our life. The event management industry is flourishing owing to the tremendous demand in society. The host prefers enjoying the event and handing over the herculean task of management to the experts. The beauty of event planning can almost be an art, where a considerable amount of effort and time is dedicated to organizing and coordinating a memorable occasion. To commence your own event planning business, you will be expected to not only be proficient with the skill of event management but also have a knack for entrepreneurship.

How were great business ventures started? The answer is ‘Business Plan’. Meticulous planning is the only way out. Jot down the tiniest details of your business will eventually provide you with the guidelines for future use. Whether you’ve already embarked on your journey towards opening your own business or still wondering on how to start an event management business , writing a business plan is one of the most important steps of the process. This article will guide you through the aspects of writing a business plan.

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What is the procedure to start a small scale event management plan?Is their any requirements to start ?

Hello Mary! You will have to finalise and set up your business entity e.g. proprietary concern, partnership etc. In addition to this you might also need some registrations/ permissions depending upon the state in which your business is located. Above article will help you further. Please call us on 8669985599 for further queries.

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How to start an Event Management Business in India: Process, Compliance, Best Practices, and Relevant Laws

In this article, Vincent Kofi who is currently pursuing M.A. IN BUSINESS LAWS , from NUJS, Kolkata, discusses How to start an Event Management Business in India: Process, Compliance, Best Practices, and Relevant Laws.

Introduction

• Currently, according to Getz and Page’s (2016) analysis, the size of the Indian event management industry is about USD 172 million. Broadly, the industry caters to personal, organizational, cultural, and leisure event categories, which can be further categorized into social and corporate events.
• The event management industry in India is at a budding stage and largely unorganized, and it mostly comprises self-employed entrepreneurs and house makers. Getz and Page (2016) further establish that the current growth of the industry is facilitated by the growing company and household incomes, as well as the increasing number and rate of TV and sports events, reality shows, corporate conferences and awards, etc. As people’s incomes grow, people increase their expenditure on parties, weddings, among other social and personal functions.
• There are only a few learning centers providing training related to events management, but from the market trend, the centers are likely to become many as people are becoming aware of the opportunities linked to the industry. This paper discusses how to start an event management business in India, particularly digging into the process, compliance, best practices, and relevant laws.
• However, first, it is important to understand the Indian event management market industry.

The Indian Event Management Market and Industry

• Event management is a very broad market. The market is customer driven since clients have more purchasing power coupled with low brand shifting cost. Although there are not many businesses offering events management services, there is so much competition in the market because of lack of entry barriers.

Accordingly, in Shekhar Singh’s (2014) view, whoever wants to start an event management business in India needs to create a niche for his or her business. For instance, one would choose to specialize in managing marriage or corporate events, or choose to market campaigns. Researching on the niche is very vital because it can reveal about the number of competitors in a specific area of interest, the competitor’s customer base, any unattended areas within the niche, and most significantly, how the competitors bill their clients.

• The corporate market category includes companies as well as charities and nonprofit firms. Based on observation, charities and nonprofit organizations are mostly involved in events meant to increase their public support base and raise money, such as hosting athletic competitions and gala fundraisers.
• There are thousands of this kind of events throughout the year across India (Pai, Sridhar, Badwaik, & Rajeevan, 2015). When they are very large, they need specialized event planning experience. However, it is helpful to start with smaller events as one learns and gains experience to manage larger ones. In addition to nonprofit organizations’ events, there are companies’ hosted events, which include conventions, trade shows, holiday parties, staff and investor meetings, and company picnics.
• Since there is a big market for these kinds of events, it would be wise considering them when one is deciding on the niche into which to venture. The other kinds to consider are social events, which include birthdays, weddings, sweet 16 parties, anniversary parties, reunions, etc. Depending on an entrepreneur’s goal and capability, he or she may choose to manage all types of events or create a niche in one or more of the types. With the proliferation of social media and its influence, the market for anniversaries, birthdays, and other social events is likely to continue growing. This market will mostly comprise the people getting married, parents lionizing golden anniversaries, and others commemorating their wedding anniversaries.
• Most of the event planners rarely work 9-to-5. Events are mostly organized in the evenings, holidays, weekends, and on specific seasons. It then follows that the amount of time an entrepreneur spends managing events depend on the specialization chosen. Almost half of the Indian event management industry is unorganized. However, due to the ubiquity of newspapers and TV channels, advertisers have resolved to using experiential marketing, where they connect with their consumers through events rather than merely on media.
• This way, Lee and Chhabra (2015) argue, the advertisers are getting better and faster results. This approach is intensely practiced by India’s largest event management at the present, Wizcraft. With the improving economy, the live entertainment arm of event management is equally growing and is likely to grow even faster as consumers are growingly becoming discerning. In fact, the discernment is growing from the TV channels increasing reality show content to about 40% (Malur & Lakshmikantha, 2014). These shows broadcast singing and dancing competitions, for instance, which need event management services.
• Because of the promising event management industry in India, there is a significant number of international brands setting camp in the country as investors. For instance, in the recent past, the international mega-brand WPP Digital entered the Indian market through Encompass Events, while Interpublic group entered through investing in Lintas India. There has been a recent joint venture amalgamating Viacom and Network 18 and Viacom—both formed Viacom 18, which is a well performing entertainment and event platform (Sulehria, 2017).
• With the increasing competition, even from the international brands, the local event management firms are becoming more professional and creative. Following the understanding of the current Indian events management market, it is necessary to understand the process, compliance, best practices, and applicable laws.

Process, Compliance, Best Practices, and Applicable Laws

First in the process of venturing into events management is acquiring relevant skills or knowing a way of getting someone with the experience and expertise to help the business grow faster. However, this may not be necessary if an entrepreneur has worked elsewhere and is prepared to apply the acquired planning experience in the new venture.

• Being able to do this, just like in any other business, a prospective entrepreneur must have some critical skills. For instance, to succeed in the market, an entrepreneur needs to be a good decision-maker to be able to evaluate options. The entrepreneur also needs to be able to come up with new and innovative solutions to problems, which also means he or she must have leadership qualities (Zakarevičius, & Župerkienė, 2015).
• To start off well, it is safer basing one’s specialization or choice of niche on personal experience. For instance, if one’s background is corporate, then it is safer specializing on corporate events at first, such as organizing corporate sporting events, and later diving into newer niches.
• An entrepreneur seeking to starting an events management business needs to have impregnable analytical aptitude and an eye for detail. The person needs to be able to market his or her services while selling his or her ideas. When money starts flowing in, the businessperson needs to know how to manage it as he or she tracks financial transactions.
• According to Zakarevičius and Župerkienė (2015), such a person should be a good time manager and able to prioritize work related tasks. The person must be able to motivate himself or herself, as well as others and know how to engage clients and close sales. In other words, the entrepreneur must be able to understand team formation and manage people successfully. Acquiring these skills faster needs one to train and get certified, which will demonstrate one’s competitive distinction in terms of professional experience, knowledge, skills, and capacity to plan and manage an event successfully.

The second in the process is knowing the right people.

• Besides having relevant skills and knowing exactly what to do in running an event management business, whom one knows is equally important, especially in a market that is becoming very competitive. Getz and Page(2016) claim that knowing the right people in the industry helps in equipping one with practical information in starting and running the event management business.
• Accordingly, the entrepreneur interested in the industry can use social media to find relevant people. For instance, LinkedIn would be important in finding and joining appropriate groups and participating in relevant discussions that would help in starting and running the business.
• In addition, the entrepreneur needs to be attending exhibitions, seminars, and trade shows to expand his or her contacts and network. It is also important to attend events managed by the people already in business to create more contacts, including of suppliers, and to create a list of potential sponsors.

After acquiring the necessary skills, knowledge, and contacts, the third step in the process is to plan.

• Locally, one can choose to incorporate as a sole proprietorship, partnership, or private (or public) company (Singh, 2016). When choosing a business structure for an event management business, one needs to consider the structure’s liability, funding, taxation, and ownership and control. Differently said, making the best choice demands balancing various factors, such as the business’s nature and objectives, degree of control the owner desires, amount of capital the business requires and the available and preferred sources of funding, tax implications, and liabilities the structure will bear.
• Creating a business plan will lead to the fourth stage in the process, which involves registering a business entity. Registration at this stage is important because an entrepreneur needs to secure a business name before using it in many other documents and in marketing. In India, one can choose to register a business entity through Ministry of Corporate Affairs (MCA) or Registrar of Firms, or on the Startup India portal or mobile application. There are many business structures from which to choose depending on one’s business needs and objectives.
• Mallen and Adams (2017) advise that the information will be important because knowing one’s audience and competition helps in finding one’s niche and deciding on how and where to promote his or her services.
• The templates provided by banks usually comprise all financial modeling templates that one would need to create year on year projections. The templates sourced from banks will also be very important in case one needs to raise business funds from a bank. The development of a business plan will need the inclusion of the market information obtained from the research in the previous steps.
• An events management firm or entrepreneur needs a good business plan. One of the areas to start searching is banks—banks would be having templates for a business plan of events management.
• The templates sourced from banks will also be very important in case one needs to raise business funds from a bank. The development of a business plan will need the inclusion of the market information obtained from the research in the previous steps.
• An events management firm or entrepreneur needs a good business plan. One of the areas to start searching is banks—banks would be having templates for a business plan of events management. The templates provided by banks usually comprise all financial modeling templates that one would need to create year on year projections.
• If one chooses to incorporate an events management business as a partnership, he or she shall need to be aware that the formation will be governed and regulated under the Indian Partnership Act, 1932. The Limited Liability Partnership Act, 2008 governs and regulates LLPs, while the Companies Act, 1956 governs and regulates companies (Singh, 2016). One is not compulsorily required to register an event management business if he or she chooses a partnership structure.
• However, without registering and being governed and regulated by the Indian Partnership Act, 1932, a partner cannot litigate the business or any other partner to the firm. In addition, neither the business nor its partners can sue a third party. Finally, the business cannot arrogate set off against a suit made by a third party. One cannot start and run a business as an LLP or a company without registering with Registrar of Companies. In addition, for companies, a Certificate of Incorporation is required as conclusive evidence for legal existence (Singh, 2016).
• If the entrepreneur chooses to register as a partnership firm, he or she needs to understand that the firm is not a separate entity from its partners and that it cannot be listed on the stock exchange. While an LLP is a distinct legal entity under the Limited Liability Partnership Act, 2008, it cannot as well be listed on the stock exchange. Partnership firms do not have perpetual succession since their perpetuity depend on the partner’s will.
• However, LLPs and companies have perpetual succession and partners or members may come and go. There are no legal capital requirements if the entrepreneur chooses to start the events management business as a partnership firm or LLP, but as a private company, the entrepreneur must have a minimum paid up capital of Rs.1 lakh, while a public company needs at least Rs.5 lakhs (Chakraborty, 2013).
• In terms of charter documentation, Perry-Kessaris (2016) records, a Partnership Deed is a charter of a partnership business structure that describes its scope of operation, and the partners’ rights and duties.
• An LLP’s charter is an LLP Agreement, which describes its scope of operation and the partners’ rights and duties vis-à-vis LLP’s. A company’s charter is its Memorandum and Article of Association, which also denotes its scope of operation.
• The entrepreneur also needs to understand that if he or she chooses to incorporate as a partnership firm, he or she must be in company of one (1) to nineteen (19) more partners.
• If he or she chooses an LLP structure, he or she needs at least one (1) more partner, but there is no limit on the highest number of members to involve.
• However, a private company legally requires between two (2) and fifty (50) members, while a public company needs at least seven (7) members.

After registering with relevant authorities and securing a name with which to do business, the fifth step in the process is to define exactly what one is going to offer in the events management industry.

• The exact service is dependent on, among other things, the findings of research on the target market and competitors. Based on the findings, for instance, registered events management firm would decide to offer all event planning services under one roof, including registration, hiring venues, promoting events, catering, etc. Otherwise, the firm would specialize in one or two niches. The final stage in preparing is to get relevant papers in order.
• Accordingly, one needs to understand the legal procedures involved in completing the required paperwork. A firm should check to ensure it has all the required licenses and certificates. If possible, the event management firm needs to have business insurance for its employees and the public, especially the people attending the events it organizes and hosts as Hopkin (2017) advises.
• Ahead of planning and hosting any event, an event management firm must seek a set of licenses for compliance and best practices. For the events hosted in hotels, most hotels give event organizers a list of licenses that they must have and hand over to the hotel at least a day before the event. Hypothetically, according to James (1982), every event needs a No Objection Certificate from the Additional Collectors office, a No Objection Certificate from the Fire Brigade, a No Objection Certificate from the Local Police Station, a No Objection Certificate from the Traffic Police Department, a Police Commissioners Note, and Rangbhoomi License.
• If an event has a DJ, then the event management firm needs to add a Phonographic Performance Ltd. License and a Novex License except when the music played is produced by Yashraj Films. Planning and hosting a Live Performance at an event requires an Indian Performing Rights Society Ltd. License.
• If alcoholic beverages are used in the event, then the management needs to have a Liquor License. If the management uses or plans to use a generator at a venue, then a Public Works Department License is required.
• If the event management firm plans to use performers from countries other than India, then a Foreign Artist Permission must be obtained. In addition, the firm needs to submit to authorities the documents required by the law, more especially the performer’(s) copies of passport and visa.
• To get the licenses just described, an event management firm needs to submit to authorities a No Objection Certificate from the venue, the venue’s floor plan, and a Letter of Application to the various identified licensing departments (James, 1982).
• The letter must have a business entity letterhead and be accompanied with an affidavit on a stamp paper. Regarding foreigner artists, in application, the event management business entity needs to submit to authorities the artist’s visa and copy of contract with the entity. It is advisable to get the foreign artistes on business visa rather than an employment visa. If an event involves paid attendants and/or sponsors, the management firm needs an Entertainment Tax directorate.
• In addition to the laws and regulations specific to the event management industry, the event management firm must ensure it does not do anything contrary to India’s supreme law, the Constitution. Closer home, the general business laws must be adhered to ensure compliance and best practices. For instance, the Indian Contract Act of 1872 is still applicable, and it includes such guidelines as those specific to contracts. Since the event management industry is largely about contractors, such as between artists and event planners or suppliers and hotels, the Indian Contract Act of 1872 and newer Acts must be followed closely. In case one chooses a partnership structure for running the business, the Partnership Act of 1932 would be very helpful. India experienced a high economic growth in the start of the 21st century, leading to the passing of the Competition Act of 2002 and the Limited Liability Act in 2008 by the Ministry of Corporate Affairs (Rankin, 2016). These laws serve to push for sustainable competition in markets, promote free trade, hence protect consumer interests, and forbid anti-competitive business activities.
• If the event management firm is a company, it will find the Companies Act of 2013 useful because the law gives guidelines on acquisitions and mergers, shareholding, boardroom decision-making, corporate social responsibility, etc. (Singh, 2016).
• The firm must also understand that the country’s law protects employees as well as employers and consumers. Employees are protected by the Payment of Wages Act of 1936, the 1972 Payment of Gratuity Act, the Payment of Bonus Act of 1965, the Industrial Disputes Act of 1947, and the Industrial Employment Act of 1946. On the other hand, the Indian business laws protecting consumers include the Consumer Protection Act, 1986 and the Consumer Dispute Redressal Forums at national and local levels (Saini & Budhwar, 2014).

India is an emerging market. It is among the biggest and fastest growing economies across the globe today. Accordingly, starting and running any business in India, let alone an events management business, would need investors who can understand some intricate and some simple realities unique to the country, including the government’s evolving policies, revisions to the existing statutes, and the laws enacted recently. While the process, compliance, best practices, and relevant laws discussed in this paper establish the general laws governing a business firm in India, it is important to adhere to local laws. In other words, a business entity must obey the laws of the state and city in which it is incorporated and operates.

Chakraborty, I. (2013). Does Capital Structure Depend on Group Affiliation? An Analysis of Indian Firms. Journal of Policy Modeling, 35(1), 110-120.

Getz, D., & Page, S. J. (2016). Event Studies: Theory, Research and Policy for Planned Events. Routledge.

Hopkin, P. (2017). Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management. Kogan Page Publishers.

James, V. G. (1982). Cinema Licensing. Journal of The Indian Law Institute, 24(1), 102- 125.

Lee, W., & Chhabra, D. (2015). Heritage Hotels and Historic Lodging: Perspectives on Experiential Marketing and Sustainable Culture.

Mallen, C., & Adams, L. J. (Eds.). (2017). Event Management in Sport, Recreation and Tourism: Theoretical and Practical Dimensions. Routledge.

Malur, P. G., & Lakshmikantha, D. (2014). Reeling the Reality: A Study on Contemporary Reality Shows and Their Influence on Other Entertainment Program Genres. International Research Journal of Social Sciences, 3(8), 1-3.

Pai, D. S., Sridhar, L., Badwaik, M. R., & Rajeevan, M. (2015). Analysis of The Daily Rainfall Events Over India Using a New Long Period (1901–2010) High Resolution (0.25× 0.25) Gridded Rainfall Data Set. Climate Dynamics, 45(3-4), 755-776.

Perry-Kessaris, A. (2016). Global Business, Local Law: The Indian Legal System as A Communal Resource in Foreign Investment Relations. Routledge.

Rankin, G. C. (2016). Background to Indian Law. Cambridge University Press. Saini, D. S., & Budhwar, P. S. (2014). Human Resource Management in India. Managing Human Resources in Asia-Pacific, 126-149.

Shekhar Singh, A. (2014). Conducting Case Study Research in Non-Profit Organisations. Qualitative Market Research: An International Journal, 17(1), 77-84.

Singh, B. J. R. (2016). Corporate Social Responsibility in India. International Journal of Higher Education Research & Development, 1(1).

Sulehria, F. (2017). DD and PTV As Victims of Media Globalisation. Asian Journal of Communication, 27(1), 97-112.

Zakarevičius, P., & Župerkienė, E. (2015). Improving the Development of Managers’ Personal and Professional Skills. Engineering Economics, 60(5).

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How to Start an Event Management Business in India

What is Event Management and its types:

• Fashion shows
• Conferences
• Exhibitions
• Music concerts
• Choosing the perfect site for staging the event
• Handling the main attendees like celebrities in case of entertainment shows and speakers if it is a conference or a seminar
• Coordination with vendors
• Managing the entire event while it is going on

Steps to be taken in order to start an event management business

Deciding on the services, doing market research, swot analysis and evaluating the competition.

• Preferences
• Qualification
• Number of employees
• Yearly sales
• Amount of clients
• Number of people at their events
• Market reputation
• Specialty of their events
• Market share
• Methods for attracting sponsors and clients
• Resource determination
• How to use these for the target audience
• Ascertaining capabilities
• How to employ these against competitors
• Ways of improvement
• Resources that are yet to availed
• Areas that need to avoided
• Advantages of competitors
• What are the positive points and how can they be utilized to improve the market position
• Which weaknesses have to be removed in order to get more opportunities
• Changes in market trends
• Strong competition
• Economic changes
• New methods that may be used by competitors
• Unfavorable situations

Preparing a business plan

• Market research
• SWOT analysis
• Analysis of competitors

Business objectives:

Staff recruitment:, getting clients:.

• Cancellation
• Reimbursement

Financial aspects:

• Capital loss
• Market meltdown
• Economic crises

Initial business procedures

Company registration.

• Company's Act – if it is a company
• Shops and Establishment Act – if it is an establishment
• India Partnership Act – if it is a firm

Registration for paying taxes

• Service taxes

List of Leading event management companies in India

• 360 Degrees
• Sita Conferences
• Percept D Mark
• Wizcraft International Entertainment Pvt Ltd
• DNA Networks Pvt Ltd
• Tafcon Group
• Cineyug Entertainment
• TCI Consultancy Services and ‘e’ Events
• Fountainhead
• Cox and King

Challenges in the event management business

• Public relations
• Marketing skills
• Negotiation skills
• Entrepreneurial skills
• Getting the job completed
• Management of cash flows
• Time management
• Accounting for fiscal transactions
• Prioritization of tasks
• Understanding team formations
• Finding better and newer ways to solve problems
• Leadership capabilities
• Decision making
• Motivational skills
• Option evaluation
• Analytical capabilities
• Interacting with clients
• Attending to details
• Finalizing deals

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How to Start a Wedding Planning Business in India – Complete Guide

• August 28, 2024
• by Next What Business Research Team

Weddings in India are large occasions that include traditions, rituals, and celebrations. With the thriving wedding business, there is an increasing demand for experienced wedding planners who can arrange these events flawlessly. Starting a wedding planning business could be the right fit if you enjoy event management and creating memorable events. In this detailed guide, we’ll lead you through the process of launching a successful wedding planning business in India.

Here are the 10 Steps to Start a Wedding Planning Business in India:

Table of Contents

Step 1: Research the Wedding Event Market

Before diving into the wedding planning business, it’s crucial to conduct thorough market research. Understand the current trends in the wedding industry, analyze your competition, and identify your target market. Consider factors such as geographical location, demographics, and the type of weddings you want to specialize in, whether it’s traditional Indian weddings, destination weddings, or themed weddings.

Step 2: Develop a Business Plan

A well-thought-out business plan is essential for laying the foundation of your wedding planning business. Define your business objectives, mission statement, and unique selling proposition (USP). Outline your services, pricing structure, and revenue projections. Additionally, include a marketing strategy detailing how you’ll attract clients and promote your services through online and offline channels.

Step 3. Register Your Business

Once you’ve finalized your business name and structure, it’s essential to register your wedding planning business with the relevant authorities. This process typically involves registering your business name, obtaining necessary licenses and permits, and fulfilling any legal requirements in your jurisdiction. Registering your business legitimises your operation and ensures compliance with local regulations and taxation laws.

Step 4. Obtain Necessary Licenses and Permits

To operate a wedding planning business in India, you may need to obtain certain licenses and permits depending on your location and the scale of your operations. Check with your local municipal corporation or relevant authorities to understand the legal requirements and obtain the necessary permits, such as a business license, GST registration , and any other permits required for event management services.

Step 5. Build Your Brand and Online Presence

Establishing a strong brand identity is crucial for standing out in the competitive wedding planning industry. Create a memorable brand name, logo, and visual identity that reflects your style and values. Invest in professional photography to showcase your portfolio of past weddings and create a visually appealing website and social media profiles to showcase your services and attract potential clients.

Step 6. Offer Comprehensive Wedding Planning Services

As a wedding planner, your role is to oversee every aspect of the wedding planning process, from venue selection and décor to catering, entertainment, and logistics. Offer comprehensive wedding planning packages tailored to your client’s needs, preferences, and budgets. Build relationships with trusted vendors and suppliers to ensure seamless execution of weddings and create unforgettable experiences for your clients.

Read:   How to Start an Event Planning Business

Step 7. Build a Network of Suppliers and Vendors

Establishing strong relationships with suppliers and vendors is essential for the success of your wedding planning business. Build a network of reliable and trusted suppliers, including florists, caterers, photographers, videographers, and decorators, whom you can collaborate with to create unforgettable weddings for your clients. Cultivate these relationships by communicating effectively, being professional, and delivering on your promises, ensuring a seamless experience for your clients.

Step 8. Network and Collaborate with Wedding Industry Professionals

Networking is key to success in the wedding planning industry. Attend wedding expos, industry events, and networking meetups to connect with other wedding professionals, such as photographers, florists, caterers, and venue managers. Collaborate with these professionals to offer integrated services and expand your network of trusted partners, which can enhance the quality of your services and attract more clients.

Step 9. Develop a Marketing Strategy

Develop a comprehensive marketing strategy to promote your wedding planning business effectively. Identify your target market and tailor your marketing efforts to reach them. Utilize a mix of online and offline marketing channels such as bridal fairs, wedding expos, bridal magazines, and local advertising to reach potential clients. Consider partnering with other wedding vendors, such as venues, photographers, and florists, to cross-promote each other’s services and expand your reach.

Step 10. Provide Exceptional Customer Service

In the wedding planning business, customer satisfaction is paramount. Build strong relationships with your clients by understanding their vision, communicating effectively, and delivering exceptional service. Be attentive to their needs, responsive to their queries, and flexible in accommodating their requests. By providing personalized attention and going above and beyond to exceed their expectations, you’ll earn their trust and loyalty, leading to positive referrals and repeat business.

Frequently Asked Questions

What qualifications or skills do i need to start a wedding planning business.

While formal qualifications aren’t mandatory, having a background in event management, hospitality, or business can be beneficial. Key skills include excellent organizational and communication skills, attention to detail, creativity, and the ability to work under pressure.

Do I need any specific licenses or permits to operate a wedding planning business in India?

The requirements may vary depending on your location and the scale of your business. It’s advisable to check with local authorities regarding any necessary licenses or permits for operating an event planning business.

How much capital do I need to start a wedding planning business?

The initial capital required can vary based on factors such as business scale, location, marketing efforts, and equipment costs. It’s essential to create a detailed business plan outlining your expenses and projected revenue to determine the required capital.

How do I find clients for my wedding planning business?

Networking with vendors in the wedding industry, attending bridal fairs and expos, leveraging social media platforms, creating a professional website, and offering promotional discounts can help attract clients. Word-of-mouth referrals from satisfied clients can also be valuable.

What services should I offer as a wedding planner?

Wedding planning services can range from full-service planning and coordination to partial planning, day-of coordination, destination wedding planning, and specialized services like theme creation or honeymoon planning. Tailor your services to meet the needs of your target market.

How do I price my wedding planning services?

Pricing can vary based on factors such as the scope of services, client budget, location, and level of expertise. Consider factors like time invested, overhead costs, and industry standards when determining your pricing structure.

What insurance coverage do I need for my wedding planning business?

While not mandatory, liability insurance can protect against unforeseen circumstances such as accidents or damages during events. It’s advisable to consult with an insurance provider to determine the appropriate coverage for your business.

How can I stay updated with the latest trends in the wedding industry?

Stay connected with industry publications, attend workshops, seminars, and conferences, join professional associations, and follow influential wedding blogs and social media accounts. Networking with other wedding professionals can also provide valuable insights into industry trends.

How do I handle emergencies or last-minute changes during weddings?

Prepare contingency plans for potential emergencies, such as backup vendors or alternate event locations. Maintain open communication with clients and vendors, and be prepared to adapt quickly to any unexpected changes or challenges.

How do I differentiate my wedding planning business from competitors?

Focus on providing exceptional customer service, personalized experiences, and attention to detail. Showcase your creativity and unique selling points through your portfolio, testimonials, and online presence to stand out in a competitive market.

Event Planning Company Business Plan

Written by Dave Lavinsky

Event Planning Business Plan

You’ve come to the right place to create your event planning business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their event planning companies

Below is an event planning business plan sample to help you create each section of your Event Planning business plan.

Executive Summary

Business overview.

Special Occasions Event Planning is a startup event planning business located in Des Moines, Iowa. The Company is founded by Jennifer Brown, an experienced event planner who has been planning themed weddings and birthday parties as the manager of a local event venue for the past ten years. Now that Jennifer has gained valuable experience managing an event venue and planning special events of various sizes and styles, she is ready to start her own event planning company, Special Occasions Event Planning. Jennifer is confident that her event planning skills, combined with her understanding of business management, will enable her to run a profitable event planning company of her own. Jennifer is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running an event planning business – sales and marketing, supply sourcing and procurement, customer relationship management, budgeting, financial reporting, and vendor relationship management. 

Special Occasions Event Planning will provide customized event planning services for special occasions big and small. Special Occasions will specialize in themed birthday parties, but will provide planning services for other types of events such as weddings, parties, and corporate gatherings upon request. The Company will be the ultimate choice for unique and memorable themed birthday parties for clients of all ages. 

Product Offering

The following are the event planning products and services that Special Occasions Event Planning will provide:

• Venue Sourcing 
• Tables & Chairs
• Dinnerware & Utensils
• Caterer Coordination
• Entertainment
• Party Favors
• Photography/Videography
• Lighting/Sound
• Bartending/Liquor 
• Set-up/Clean up

Customer Focus

Special Occasions Event Planning will target individuals, families, and social groups in Des Moines, Iowa. The Company will target people looking to plan a one-of-a-kind birthday party for their child, significant other, friend, or other relative. No matter the customer, Special Occasions Event Planning will deliver the best communication, service, and attention to detail. 

Management Team

Special Occasions Event Planning will be owned and operated by Jennifer Brown. Jennifer is a graduate of Iowa University with a degree in Business Management. She has over ten years of experience working as an event planner for another local venue. Jennifer will be the Company’s Chief Executive Officer and the Head Event Planner. She will lead the more complex events and oversee the event planning staff. 

Jennifer has recruited an experienced administrative assistant, Patricia Smith, to help manage the day-to-day business operations. Patricia has been an administrative assistant in the event planning industry for more than 15 years. Jennifer relies on Patricia’s organization, attention to detail, and punctuality when organizing her schedule, managing clients, and maintaining her files. 

Jennifer and Patricia have recruited an experienced marketing director, John Jones, to become a member of the Special Occasions Event Planning management team. John is a graduate of the University of Iowa with a Bachelor’s degree in Marketing. Jennifer and Patricia rely on John’s expertise to execute the Company’s marketing plan and advertising strategies.  

Success Factors

Special Occasions Event Planning will be able to achieve success by offering the following competitive advantages:

• Skilled team of event planners who will ensure every client receives exceptional customer service and that all reasonable requests are met. 
• Special Occasions Event Planning’s leadership team has established relationships with local venues, vendors, and entertainers, thus providing customers with a wide selection of options to choose from when planning their special event. 
• The Company specializes in the themed birthday party niche and is well-versed in the latest trends in the industry. 

Financial Highlights

Special Occasions Event Planning is seeking $200,000 in debt financing to launch its event planning business. The funding will be dedicated towards securing an office space and purchasing equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff and marketing expenses. The breakout of the funding is below:

• Office lease and renovation: $80,000
• Office equipment, supplies, and materials: $20,000
• Three months of overhead expenses (payroll, utilities): $90,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph below outlines the pro forma financial projections for Special Occasions Event Planning.

Company Overview

Who is special occasions event planning .

Special Occasions Event Planning is a newly established event planning company based in Des Moines, Iowa. Special Occasions will be the first choice for unique themed birthday parties for people of all ages in Des Moines and the surrounding communities. The company will provide customized event planning services for parties large and small. 

Special Occasions Event Planning will be able to provide all the essentials for any special event from highly rated caterers to the hottest entertainment due to the Company’s existing relationships with industry professionals and vendors. The Company’s team of highly qualified event planning professionals will manage the entire planning process from ideation to execution. Special Occasions even provides clean-up services. Clients can opt for full-service event planning services or purchase specific aspects (such as decor or catering) a la carte. 

Special Occasions Event Planning History

Special Occasions Event Planning is owned and operated by Jennifer Brown, an experienced event planner who has been planning themed weddings and birthday parties as the manager of a local event venue for the past ten years. Now that Jennifer has experienced managing an event venue and planning special events of various sizes and styles, she is ready to start her own event planning company. Jennifer is confident that her event planning skills, combined with her understanding of business management, will enable her to run a profitable event planning company of her own. Jennifer is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running an event planning business – sales and marketing, supply sourcing and procurement, customer relationship management, budgeting, financial reporting, and vendor relationship management. 

Since incorporation, Special Occasions Event Planning has achieved the following milestones:

• Registered Special Occasions Event Planning, LLC to transact business in the state of Iowa. 
• Has signed a contract to lease the office space. 
• Reached out to numerous contacts to include local venues, catering companies, entertainers, and decor suppliers to spread the word about her new business opportunities. 
• Began recruiting a staff of accountants, event planners, sales and marketing associates, and office staff to work at Special Occasions Event Planning Services.

Special Occasions Event Planning Services

Industry analysis.

The Party and Event Planning industry in the United States is valued at approximately $4B, with 70,000 businesses in operation, and over 82,000 employees. The market for event planning services is expected to grow over the next several years due to an aging baby boomer population, many of whom have children and grandchildren who will have weddings, birthday parties, graduations, anniversaries, and other special events in the coming years. Additionally, the corporate event planning segment is expected to grow due to more companies pursuing team building opportunities and hosting events that can serve as marketing for the business. 

The event planning market is split into two broad segments: corporate and social. Corporate events such as holiday parties, meetings, trade shows, conventions, fundraisers, and receptions are just some of the events included in this segment. Corporate customers include companies, non-profit organizations, and charities. The social segment includes a wide range of special occasions such as weddings, bridal showers, birthday parties, anniversary parties, reunions, and more. The largest and most lucrative category in the social event planning segment is wedding planning. 

Industry operators can specialize in one or two niches such as wedding planners or corporate planners. Alternatively, industry operators can provide planning services for a wide range of events. Industry operators that specialize in a specific niche and even narrow their niche to a specific type of event, such as “kids’ parties” or “fashion shows” may have more success because they can become an expert in one area and target a highly specific customer segment. Industry operators who provide a broad range of services to a variety of customers can be successful if they provide high levels of organization, customer service, and unique or highly customized services. 

Customer Analysis

Demographic profile of target market.

Special Occasions Event Planning will target individuals, families, and social groups in Des Moines, Iowa. The Company will target people looking to plan a one-of-a-kind birthday party for their child, significant other, friend, or other relative. Special Occasions Event Planning will also target young adults looking to plan a memorable, themed 21st birthday party. No matter the customer, Special Occasions Event Planning will deliver the best communication, service, and attention to detail. 

The precise demographics for Des Moines, Iowa are:

Customer Segmentation

Special Occasions will primarily target the following customer profiles:

• Millennials
• Individuals with disposable income
• Families with children and disposable income

Competitive Analysis

Direct and indirect competitors.

Special Occasions Event Planning will face competition from other companies with similar business profiles. A description of each competitor company is below.

Emily’s Event Planning

Established in 2017, Emily’s Event Planning is now a well-known event planner in the Des Moines, Iowa area. The company provides event planning services for large corporate events, weddings, and birthday parties. Emily’s Event Planning is most well-known for its picturesque venue choices. The company has relationships with some of the most in-demand venues in the area. Emily’s Event Planning provides an all-inclusive event planning and management service with packages that include venue rental, decor, entertainment, food, and clean-up services. 

While Emily’s Event Planning has an established reputation in the market for quality event planning services, it has a list of predefined event packages and does not customize its services or take unique requests from customers. 

Fancy Event Planner

Fancy Event Planner has been operating in the state of Iowa since 1982. This company is a small business run by a husband and wife team that specializes in event planning and catering services for weddings, birthday parties, and other special occasions. Fancy Event Planner provides decor, venue coordination, and food service for events of up to 100 guests. The company specializes in providing gourmet dinners, desserts, and appetizers. Additionally, Fancy Event Planner provides hand crafted decor and floral arrangements for weddings and parties. Fancy Event Planner is for customers looking for an elegant presentation in a traditional setting. 

Fancy Event Planner has a limited selection of services and does not offer entertainment, set-up/clean-up, lighting/sound, or liquor accommodations. 

Wonderfully Perfect Event Planning Services

Wonderfully Perfect Event Planning Services is a new Des Moines, Iowa-based event planner that provides superior service to its customers. The company is managed by an experienced entrepreneur who has been working in the hospitality industry for over 20 years. She opened Wonderfully Perfect Event Planning Services in 2019 when she discovered a lack of options for themed party planning in the area. The company provides customized planning services for any event and will strive to ensure all customer requests are met to ensure a perfect event experience every time. 

The company does not have established relationships with vendors, venues, or entertainment in the area and as such, trails behind Special Occasions Event Planning in this area. 

Competitive Advantage

Special Occasions Event Planning will be able to offer the following advantages over the competition:

• Skilled team of experienced event planners who are able to provide customized planning services and fulfill any reasonable request. 
• Special Occasions Event Planning’s management team has long-standing relationships with industry professionals and is able to provide customers with a wide selection of options when it comes to venues, entertainment, and catering.  
• The Company specializes in themed birthday parties and keeps up on the latest trends in the industry. 

Marketing Plan

Brand & value proposition.

Special Occasions Event Planning will offer the unique value proposition to its clientele:

• Special Occasions Event Planning provides full-services event planning from ideation to execution. 
• The Company’s wide selection of options allows each customer to create their dream event.  

Promotions Strategy 

The promotions strategy for Special Occasions Event Planning is as follows:

Social Media Marketing

The Company’s marketing director will create accounts on social media platforms such as LinkedIn, Twitter, Instagram, Facebook, TikTok, and YouTube. He will ensure Special Occasions maintains an active social media presence with regular daily updates and fun content to get customers excited about using the Company’s event planning services. 

Professional Associations and Networking

Special Occasions Event Planning will become a member of professional associations such as the Event Planners’ Association, American Party Planning Society, and the Iowa Special Event Association. The leadership team will focus their networking efforts on expanding the Company’s vendor and client network. 

Print Advertising

Special Occasions Event Planning will invest in professionally designed print ads to display in programs or flyers at industry networking events. The Company will also send direct mailers to local businesses with employees who are in the target market. 

Website/SEO Marketing

Special Occasions Event Planning will utilize its in-house marketing director that designed the print ads to also design the Company’s website. The website will be well organized, informative, and list all the services that Special Occasions is able to provide. The website will also list information on the Company’s events and promotions. 

The marketing director will also manage the Company’s website presence with SEO marketing tactics so that when someone types in a search engine “Des Moines Event Planner” or “Event Planner near me”, Special Occasions Event Planning will be listed at the top of the search results.

The pricing of Special Occasions Event Planning will be premium due to the high level of customization and hands-on planning services involved. Customers will feel they receive great value when purchasing the Company’s services.  

Operations Plan

The following will be the operations plan for Special Occasions Event Planning.

Operation Functions:

• Jennifer Brown will be the CEO and Head Event Planner. She will lead the more complex events and oversee the event planning staff. Jennifer has spent the past year recruiting the following staff:
• Patricia Smith – Administrative Assistant who will manage the budgeting, vendor relationships, and logistics.
• Sam Johnson – Accountant/Bookkeeper who will provide all accounting, tax payments, and monthly financial reporting.
• John Jones – Marketing Director who will oversee all marketing strategies for the Company and manage the website, social media, and outreach. 
• Michelle Garcia – Customer Success Officer who will oversee customer relationships. 

Milestones:

Special Occasions Event Planning will have the following milestones complete in the next six months.

11/1/2022 – Finalize contract to lease the office space. 

11/15/2022 – Finalize employment contracts for the Special Occasions Event Planning management team.

12/1/2022 – Begin renovations on the office and purchase office equipment and supplies. 

12/15/2022 – Begin networking at industry events and implement the marketing plan. 

1/15/2023 – Begin recruiting and training office staff and event planners. 

2/15/2023 – Special Occasions Event Planning officially opens for business. 

Financial Plan

Key revenue & costs.

The revenue drivers for Special Occasions Event Planning are the fees charged to customers in exchange for the Company’s event planning services. Customers will be able to purchase full-service, customizable packages or select specific aspects (such as entertainment or catering) a la carte. 

The cost drivers will be the overhead costs required in order to staff an event planning business. The expenses will be the payroll cost, utilities, party supplies, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Average number of events per month: 4 
• Average fees per month: $20,000
• Overhead costs per year: $360,000

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Event Planning Company Business Plan FAQs

What is an event planning company business plan.

An e vent planning company business plan is a plan to start and/or grow your event planning company business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your event planning company business plan using our Event Planning Company Business Plan Template here .

What are the Main Types of Event Planning Companies?

There are a number of different kinds of event planning companies , some examples include: Corporate Events, Social Events, and Niche Events Planning.

How Do You Get Funding for Your Event Planning Company Business Plan?

Event planning companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. This is true for an event business plan or an event management business plan.

What are the Steps To Start an Event Planning Business?

Starting an event planning business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An Event Planning Company Business Plan - The first step in starting a business is to create a detailed event planning company business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your event planning business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your event planning business is in compliance with local laws.

3. Register Your Event Planning Business - Once you have chosen a legal structure, the next step is to register your event planning business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your event planning business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Event Planning Company Equipment & Supplies - In order to start your event planning business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your event planning business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful event planning business:

• How to Start an Event Planning Business

Other Helpful Business Plan Templates

Photography Business Plan Template Event Venue Business Plan Template Catering Business Plan Template

1. Build a solid business plan

I can’t tell you how many small event planning businesses fail because the founder didn’t put together a business plan in advance.

Start by researching successful plans and businesses that are similar to your scope of work. Then reach out to others in the events industry who may be able to guide you! 

Reach out to others in the events industry that may be able to guide you. Click To Tweet

Even if you’ve never seen a business plan, there are plenty of resources and templates online that can get you started. Additionally, when you look to grow your business, an up-to-date business plan is vital to secure any kind of investment.

Start with the right event tools for your business

Get Started Free

2. Set a marketing budget and use a PR company when possible.

When starting your party planning business, your marketing budget may be 30% or more of your business expenses. Does that seem like a lot? Think about all the things you’ll need:

• A website for your business
• Business cards
• Flyers and other printed info
• Digital marketing and online ads
• Expenses to travel to events for networking

Don’t leave anything out! You will need to spend money to make money, ultimately. The goal in the early months is to secure your base of customers as quickly as possible. If you deliver on the promise of creating memorable events, your clients will stick around and recommend you. As a result, your marketing costs will start to drop.

Here’s How to Start an Event Planning Business Click To Tweet

3. Clearly define your scope of work, mission and goals for your event business.

Your event planning business may evolve over time, but even when you’re just starting out, it’s important to clearly outline what you are and aren’t willing to do. You can even put this on your website to attract the right type of clients.

When you’re still building your business, saying “no” to clients  is one of the hardest things to do. But it might save you from dealing with the kinds of customers that take up too much time and don’t offer enough value in return.

4. Have your elevator speech ready.

After I set up my first events business, I had a hard time selling it to people because my 30-second pitch wasn’t refined. Make sure to spend time developing this ” it is the key to introducing everyone to your business.

Pro tip:  Don’t stress about the name of your event planning business. At the end of the day, the name of your business doesn’t matter ” as long as you produce truly memorable events. However, a catchy event business name idea might stick in someone’s brain better during an elevator pitch.

5. Do your market research

Before jumping, in I always tell people to understand their market and competitors. What is your unique value proposition? Are your fees similar to, better than or higher than others in your area? Understanding your competition and your clients will give you the leg up in this market. Don’t skip this step!

6. Spend some time learning tax laws and business filing in your area.

No matter what kind of business you want to start, there are lots of legal pieces to understand. I spent time researching which type of business would be best for me (LLC made the most sense for my consulting business).

It’s also critical to understand the tax implications before you dive in. For example, when I moved my business from Virginia to California, I had to go through the process of dissolving the business. I should have taken more time to research other possibilities!

There’s a lot to navigate, but some great resources exist for building small businesses. Here are a few I recommend:

• IRS.GOV “ Starting a Business
• SBA.GOV “ 10 Steps to Starting a Business

One of my favorite resources in Women In Events . New event planners can take advantage of our mentoring/coaching program after signing up.

Now You’re Ready to Start a Great Event Planning Business!

Have questions? We’ve got answers. Connect with @socialtables on Twitter.

Up next, here’s how to pick an event company name for your business . Or check out Social Tables free event planning tools to manage seating, meals, and so much more.

Try the event management software planners love

More tips for aspiring event planners.

• The 6 Must-Have Event Planning Skills You Need for Career Success
• The Top Event Planning Conferences This Year
• 10 Event Planning Tips Every Budding Coordinator Needs to Know

Still searching for answers about starting an event planning business?

Do your research, make a plan, set a budget, define your scope of work, and throw amazing events!

You should plan to set aside at least $15,000 to $25,000 to start a small event planning business.

Event planning can be quite a profitable career choice. The best event planners will make a name for themselves and be able to charge high prices for their vision, creativity, execution, and results.

• Free Planner Tools
• Event Seating Software
• Event Check-In Software

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Event Planning Business Plan

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Corporate Retreat Professionals

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.

Companies need to make sure their employees have the best training and tools available.  They use the retreats to help colleagues get together and work well together which helps avoid turnover. Happy coworkers mean happy customers

The Corporate Retreat Professionals (CRP) is an event planning company specializing in corporate customers.  CRP will offer two types of services, retreat training services as well as product launch event planning.  The retreat training services will be either leadership development training or teaming skills training.  For both types of retreats, CRP can take care of the planning of the event, as well as actually hosting the training through the use of one of CRP’s strategic business partners.

The corporate market for event planning is steady and profitable.  For some large companies, economic downturns mean cuts in training. This is, however, only the case for short sighted companies.  The benchmark companies may trim down the workforce during a downturn, but they do not cut funds for training.  They recognize that investing in human resources is always a good investment.  CRP intends to profit nicely from this.  Additionally, even in economic downturns, companies still have product launches and will still need someone to organize these events.  In short, the need for corporate event planning/hosting services rarely diminishes, it is a steadily increasing demand that CRP will capitalize on.

Competition

In the past, the buying patterns for the larger corporations was in the past to have an in-house solution. This pattern is is disappearing in favor of outsourcing as there is the constant drive for gains in efficiency, something outsourcing can offer.

Corporate Retreat Professionals will provide companies with the highest level of event planning.  We exist to attract and maintain customers.  When we adhere to this maxim, everything else will fall into place.  Our services will exceed the expectations of our customers.

Expectations

Financial highlights by year, financing needed.

We will be getting $50,000 from the owner and founder of the company. 

Problem & Solution

Problem worth solving, our solution.

Corporate Retreat Professionals will provide companies with the highest level of event planning.  We exist to attract and maintain customers.  When we adhere to this maxim, everything else will fall into place.  Our services will exceed the expectations of our customers.

Target Market

Market size & segments.

CRP will serve the corporate customer in the event planning market.  CRP will be specializing in two important niches.  The first is leadership development and teaming skills development.  With the recent trend in corporate downsizing, corporations are ditching their in-house solutions in favor of outsourcing.  Even though we are in the midst of an economic downturn, investments in human capital are generally not reduced.  Corporations still have the need for leadership development and teaming skills development.  These are investments that cost a bit up front but pay nice returns in the long run.  These are the services that CRP will specialize in.

Additionally, CRP will offer event planning for product launches.  Product launches are an integral stage in the release of a new product, communicating to the public about the new "thing" the company has just released.  Our customers will be companies seeking to raise awareness about their new product release.  CRP will provide a complete service of planning and hosting these product release events.

4.1 Market Segmentation

CRP is providing services to corporate customers only.  We will not be going after the "social market" which is an alternative market within the event planning niche. 

The corporate customer is a company that contracts with CRP to plan and typically host an event for the company.  Corporations will be turning to CRP to plan the events because:

• It is cost effective for a third party to plan the event.  This is the case because the third party only does event planning so they can plan and host the event more efficiently.
• The company does not have additional people that can be taken away from their daily tasks to invest time in this infrequent event.

Our event planning services for corporate retreats will typically be utilized by larger corporations.  A larger company can be generally defined as one with more than 40 employees.  Smaller companies sometimes will utilize this service of ours, however, it is the larger corporations that typically have the budget for this activity.

For our product launch event planning, we will be servicing companies of all different sizes.  Typically the companies that use this service will be product based companies, but we will also offer this service to service-based companies who desire to announce a new service that they are offering.

CRP is targeting large companies for our corporate retreat event planning.  The large corporations typically have the budget and the foresight to recognize the value in corporate retreats.  In addition, it is the larger corporations that typically use the corporate retreat as a training session for their employees.  The training is typically in leadership development or teaming skills.  While they do have these retreats at different intervals through the year,  it is more cost effective for them to hire a service such as CRP to plan the events when needed instead of paying the carrying costs of having a full-time, trained employee ready to do the planning when it is needed.

CRP’s product release planning services will be targeted at all different size companies.  Companies of all sizes have product release and it is unusual for them to have product release many times a year requiring someone to be a full-time planner on staff.  Therefore, it makes sense for them to hire an outside service to plan the event using their expertise in event planning to drive down the costs of production and hosting.

Current Alternatives

Currently there are three other companies that offer event planning specifically to corporations. They however, tend to do events that are more general in scope such as parties to reward customers or employees, or events to change the company image. There is no company that specializes in event planning of corporate training and product release events. There are companies that offer corporate training, but these companies provide the actual training and do not do any of the actual event planning/ logistics of the entire event.

There are companies that provide product-release services, but they do not specialize in it. Because event planning is a tight market, CRP will benefit from their specialization in this area.

Our Advantages

CRP’s second competitive edge is based on the use of strategic relationships. CRP clearly realizes that they cannot be good at everything. CRP believes it is better to concentrate on a few things, excel in those areas, and form strategic partnerships with companies that excel in the service areas that CRP doesn’t. Applying this philosophy, CRP has decided in addition to planning corporate retreat training sessions, they want to offer the service of hosting/leading these events as well. The service of hosting/leading however, is quite different than planning and CRP believes that it would be more cost effective to form a strategic relationship with an expert in this field instead of trying to become proficient themselves. CRP then is able to offer a top-notch service offering of hosting/leading the training seminars but does not have to invest heavily in developing the program.

The use of strategic relationships is unusual in the event planning space. Most event planners are generalists and try to do a little of everything. CRP is following the model of benchmark companies in other industries that have recognized the value of specialization and the use of strategic relationships.

Keys to Success

Our keys to Success are: 

• Create a service-based company whose #1 value is exceeding customer’s expectations.
• Utilize of CRP’s services in 10 of the 100 top performing companies as listed by the Seattle Business Journal.
• Increase our number of served clients by 20% per year through superior service.
• Develop a sustainable, profitable start-up business.

Marketing & Sales

Marketing plan.

CRP will, for the most part, be using the sale strategy of personal selling. With his five years of consulting for larger corporations, Jeff has formed relationships throughout the business community. Jeff will initially leverage these relationships to form some initial clients. Once things get rolling and CRP has developed some satisfied clients, Jeff will be developing relationships with his network of friends developed through the Chambers of Commerce and trade shows.

Jeff’s spiel to prospective customers will be based on the high level of service offered and cost advantages by going with CRP. The cost savings can be quantified and shown to the customer while the higher level of service can be guaranteed as well as communicated through testimonials from satisfied clients.

Additionally, the website will be used not only to communicate information to prospective customers but also a method of communication where CRP can provide more specialized information such as cost estimates as well as answering questions through the site.

CRP will offer event planning for the corporate market.  CRP will concentrate on two types of event planning:

• Corporate retreats – These events are typically used for two different reasons.  They are either a leadership training or teaming skills training where employees of the corporations are sent away to develop these skills.  In addition to the planning of the events, CRP will be able to host the event as well.  While CRP’s core competencies are not in hosting, CRP will align itself with a well-respected host of leadership development/teaming skills programs and have them assist CRP in the hosting aspect.  Using a strategic partner, in this case, allows CRP to stick with a narrow focus but still offer the service to our customers.
• Product launches – These are events where the corporation is releasing a product and they have an event that is open to people outside of the corporation.  The purpose of the product launch event is to create visibility for the new release. 

Milestones & Metrics

Milestones table.

Key Metrics

Our Key Metrics are: 

• # of monthly customers, we would like to slowly increase our monthly customers 
• #of return customers 
• # of reviews and recommendations 
• food and drink inventory turnover
• each even cost of goods 
• cost of training our staff 
• # of events and of rooms occupied to break even 

Ownership & Structure

CRP is a Washington corporation whose sole stock holder is Jeff Organizer. Jeff will be incorporating to protect himself from personal liability.

Management Team

Jeff Organizer, Founder and President, has a degree in Business from the University of Washington. After college, Jeff spent five years working for Andersen Consulting. During these years, Jeff became familiar with a large number of companies and the important players in the Seattle business community. While working for Andersen, Jeff attended an MBA night program and received his MBA in 1996.

After completing his degree, Jeff decided to join Boeing in their PR department. It was at Boeing where Jeff learned the bulk of his organizing and event planning skills. These skills, in conjunction with his MBA education, gave Jeff the confidence to handle a wide range of business propositions. After three years at Boeing, Jeff decided to start his own business. Corporate Retreat Professionals was finally born

Personnel Table

Financial Plan investor-ready personnel plan .">

Key assumptions.

Our key assumptions are: 

• Personnel are the difference between customers choosing one company over the other, training is key 
• happy bonded coworkers mean longer hours and better products 
• there are a set number of events we need to breakeven. more will make us a profit. 

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

Start-up Expenses

Legal 1,000

Stationery etc. $300

Brochures $300

Consultants $300

Insurance $200

Rent $1,000

Office equipment $300

TOTAL START-UP EXPENSES$3,400

In addition we will be having $5,000 of long term assets.  The remainder of the $50,000 will be used as cash to help fund the operations. 

Sources of Funds

We will be getting $50,000 from the owner. 

Projected Profit & Loss

Projected Balance Sheet

Projected Cash Flow Statement

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Budget-Friendly Corporate Event Planning: Strategies for Success

Date 03/04/2024

Corporate events play a pivotal role in fostering relationships, strengthening networks, and enhancing brand visibility. However, in the face of budget constraints, orchestrating these gatherings can present significant challenges. In a country as diverse and vibrant as India, where every region offers unique cultural experiences, finding cost-effective solutions becomes even more crucial. In this comprehensive guide, we delve into practical tips backed by real statistics to help you navigate the complexities of corporate event planning while staying within budgetary constraints.

1. Early Planning Yields Significant Savings:

Embarking on the planning process well in advance lays the foundation for budget-friendly event management. According to a survey conducted by Eventbrite, events planned within 3-6 months in advance can save up to 15% on overall costs compared to those organized on shorter notice. Early planning not only allows for meticulous research and vendor negotiation but also provides flexibility in decision-making. By securing venues, accommodations, and services ahead of time, organizers can avoid last-minute rush expenses and ensure a smoother execution of the event.

2. Embrace Offbeat Locations for Unique Experiences:

Choosing offbeat locations can offer a refreshing departure from conventional event settings while providing cost-effective options. Research by CWT Meetings & Events suggests that 74% of corporate event planners consider location to be the most crucial factor in determining event success. Destinations like Udaipur, Jaipur, or Rishikesh not only offer cultural richness but also present affordable alternatives for accommodations and activities. These locales not only captivate attendees with their charm but also offer opportunities for immersive experiences that foster meaningful connections and leave a lasting impression.

3. Non-Popular Venues Offer Value Without Compromise:

Renowned venues often come with premium price tags, making non-popular venues an attractive choice for budget-conscious planners. A report by Meetings Mean Business India highlights that non-traditional venues, such as community centers or educational institutions, can offer up to 30% savings compared to conventional event spaces. Beyond cost considerations, these venues inject authenticity and character into events, creating a memorable experience for attendees. By negotiating favorable terms and leveraging the flexibility of non-traditional spaces, organizers can optimize savings without compromising on quality or aesthetics.

4. Strategic Decor Choices for Aesthetic Appeal Within Budget:

Decorating venues can consume a significant portion of the budget, making judicious decor choices essential for cost-effective event planning. According to EventMB's State of the Industry Survey, 72% of event planners prioritize budget-friendly decor options. Opting for minimalist yet elegant decor themes not only reduces costs but also lends a sophisticated ambiance to the event. Repurposing existing assets and collaborating with local artisans for handmade decorations add a personalized touch without breaking the bank. By incorporating sustainable and eco-friendly decor elements, organizers can align with current trends while demonstrating corporate social responsibility.

5. Streamlined Group Travel Management for Cost Efficiency:

Efficient management of group travel is vital for optimizing event expenditure. Research by the Global Business Travel Association (GBTA) indicates that optimizing travel management processes can lead to savings of up to 20% on travel expenses. Negotiating bulk booking discounts with transportation providers and exploring alternative modes of transport, such as shared shuttles or carpooling, can significantly reduce transportation costs. Additionally, leveraging technology for virtual attendance options enhances accessibility while minimizing travel-related expenses for remote participants.

6. Strategic Contracting for Maximizing Savings:

Negotiation and strategic contracting play a crucial role in optimizing event expenditure. A report by Meetings & Conventions Asia suggests that effective negotiation can result in savings of up to 25% on event expenses. By seeking competitive bids from vendors and suppliers, organizers can leverage market competition to secure favorable rates. Consolidating services and maintaining open communication with vendors can unlock discounts and foster long-term partnerships. Exploring barter arrangements or sponsorship opportunities further enhances cost-saving opportunities while adding value to the event.

7. Curate Unique In-House Experiences for Engagement and Bonding:

Incorporating unique in-house experiences adds value to corporate events without inflating the budget. According to a survey by Meeting Professionals International (MPI), 68% of event planners believe that interactive sessions and team-building activities contribute significantly to event success. Leveraging internal resources creatively, such as hosting skill workshops led by employees or organizing team-building exercises facilitated by in-house experts, fosters engagement and camaraderie among attendees. By tapping into the collective talents and expertise within the organization, organizers can curate memorable experiences that resonate with participants while minimizing additional expenses associated with external facilitators or activities.

In conclusion, mastering budget-friendly corporate event planning in India demands a strategic approach and careful consideration of cost-saving opportunities. By leveraging early planning, offbeat locations, non-popular venues, cost-efficient decor choices, streamlined travel management, strategic contracting, and unique in-house experiences, organizers can create impactful events that leave a lasting impression without exceeding budgetary constraints. With creativity, foresight, and data-driven decision-making, achieving successful and cost-effective corporate gatherings is not only possible but also rewarding. By embracing these strategies and adapting them to specific event objectives and organizational requirements, event planners can optimize resources and deliver exceptional experiences that resonate with attendees while maximizing returns on investment.

Samuil Sadovsky

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We cherish our 20 years long association with Stimulus. Thank you for managing our India Volunteer Programs, Annual Off-sites and travel arrangements for our team and India Bound Guests. We look forward to many more during our journey ahead !

Sachin Sharma

Many thanks for the well organised and one of the best incentive trips to las vegas. stimulus understood the ethos of our company and the meticulus detailing can be seen during the event. the stratosphere gala night with sunidhi chauhan performance was the icing on the cake .

Rajiv Sharma

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Thanks for being our partner in 50+ team building programs across the country. We had a super experience working with you. The organisation of all the programs in Rishikesh, Sattal, Bhutan or Goa were just perfect. You understand the way top companies work, allowing us to focus on the training. Look forward to exceptional programs with you for our clients.

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VP - Channel Partnerships

Stimulus has been our go to agency for our top level Incentive programs for Channel Partners. Over the years they have organised tours for us in Barcelona, Thailand, Singapore, Almaty, Maldives, Istanbul, Tashkent and many more. That we trust them with our most valued partners, is a proof that they are the best in the business.

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Thanks to Stimulus and team for arranging this Bangkok Trip for our Top Performers Appreciate your help in co-ordination that made this possible. We thoroughly enjoyed the trip and are back with high energy. Let our association grow multifold together.

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Stimulus organised our Annual Event at Corbett and it was a super success ! The Team Games, Event and the entire travel arrangements were spot on. Thank you for taking over the hassle of organising such a large meet and making it a success !

Anupam Mehrotra

Stimulus and me go back a long way back when they used to organise annual meets for our previous company, william e connors. it was nice to reconnect again for our leadership workshops. stimulus organised the events seamlessly in beautiful venues - four point sheraton & leela gurgaon. the arrangements were good and menu selections were excellent., the brands we served.

OUR TRUSTED PARTNERS

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Planning Pod Blog

Fresh insights and best practices for event professionals.

• Starting an event planning business: Your guide to turning a passion for planning into profit

by Hannah Barnes | Aug 20, 2024 | Business , Business Management , Event Planning , Event Planning for Wedding Planners

Are you a born organizer with an eye for detail? Do you find yourself dreaming up the intricacies of perfectly executed events? If so, starting an event planning business might be the career for you.

Let’s be honest…the event industry is a passionate but sometimes anxiety-filled one. Crafting once-in-a-lifetime experiences while dealing with unpredictable challenges (weather disruptions, equipment malfunctions, and unreliable vendors) often equals intense pressure for event coordinators and wedding planners.

But never fear! This comprehensive guide on how to start an event planning business is built to help you think ahead and stay prepared so you can become profitable without panic.

Planning Pod is your ultimate event management toolkit. Designed with wedding and event planners in mind, it offers a comprehensive suite of features to streamline your operations. And it helps you create and define the processes for your new business! Join the countless professionals who trust Planning Pod to make their events unforgettable. Get started today!

Business fundamentals

Before diving into the world of event planning face-first, it’s crucial to establish a solid foundation for your business. Here’s an insider hint: before you learn how to become an event planner, it’s critical that you know how to run a business in order to be successful.

Your niche in the event industry 

Understanding your market is key to success, so take the time to identify the types of events most in demand in your area. Are you in a city bustling with extravagant weddings? Or a charming town with intimate ceremonies? Pinpoint your target clientele to take it a step further – are you catering to luxury weddings and receptions, or budget-conscious banquets? 

You can also consider specializing in a niche, such as elopements, cultural weddings, or eco-friendly events. Though it might be tempting to provide services for a wider variety of clientele, niching down can really help you stand out in a competitive market.

Choosing the right business structure

Selecting the appropriate business structure for your business is a critical decision. It significantly impacts your personal liability, tax obligations, and the overall management of the business. The structure you choose will determine the legal separation between you and the business itself, which has far-reaching consequences. Factors such as the size of your business, whether or not you are the sole owner, and the level of risk tolerance need to be carefully considered when weighing your options. Ultimately, the right structure can provide essential protection for your personal assets, optimize tax benefits, and facilitate growth for your event business.

A sole proprietorship is the simplest business structure to establish. It requires minimal paperwork and gives you, the owner, complete control over the business. However, this simplicity comes with a significant drawback: unlimited personal liability. This means that your  personal assets (house, car, bank accounts, etc.) are at risk if the business incurs debts or faces legal issues.

An LLC, or Limited Liability Company, offers a middle ground between sole proprietorships and corporations. Like a corporation, an LLC provides limited liability protection, shielding your personal assets from business debts and liabilities. It is generally easier and less costly to form and manage than a corporation. And LLCs offer flexibility in terms of taxation, allowing you some choice in how the business is taxed.

A corporation provides the strongest level of liability protection for business owners. As a separate legal entity, a corporation is responsible for its own debts and obligations, shielding you and any other shareholders from personal liability. While this level of protection is advantageous, corporations are more complex and expensive to set up and maintain. They also come with additional regulatory requirements and tax obligations compared to sole proprietorships and LLCs.

It’s important to research the legal requirements and tax implications of each structure to make an informed choice for your event business. And don’t forget to obtain necessary licenses and permits to operate your business and events legally.

Budgeting for success 

It goes without saying that starting an event or wedding planning business requires careful financial planning. You will need to determine the initial capital needed to cover startup costs, including office or event space, equipment, marketing, and insurance. 

Budgeting is crucial for financial success in the event industry. A detailed budget outlines all anticipated expenses, from space rental and utilities to marketing costs and employee salaries. It also includes projected income from various event services. By carefully tracking both income and expenses, you can gain a clear picture of your financial standing, setting up your future self for success and the ability to make informed decisions.

Competitive pricing is also essential for attracting clients and generating revenue. Researching event industry standards will help you understand the market value of your services and adjust your pricing accordingly. It’s important to consider factors such as your experience, location, and the level of service you provide when determining your rates. Remember, striking the right balance between affordability and profitability is key to long-term event business success.

Finally, financial projections provide a roadmap for your event planning business. By creating comprehensive forecasts, you can anticipate future income, expenses, and cash flow. These projections help you identify potential financial challenges, set realistic goals, and make strategic decisions. Regularly reviewing and updating your financial projections ensures that your business stays on track and adapts to changing market conditions.

NOTE: Tools like QuickBooks, Xero, and FreshBooks are designed to manage financial records. While primarily intended for day-to-day bookkeeping, many also offer forecasting and budgeting features.

The heart of your business: Event planning and management

Once your business foundation is in place, it’s time to focus on the real reason you started it up in the first place: your passion for event planning and management.

Defining your expertise

It’s time to determine the specific services you will offer in your event business. Will you handle full-service planning, including vendor selection and coordination, or focus on day-of coordination? 

To stand out in a competitive market, consider specializing in specific areas of event planning. Focusing on particular aspects, such as event design, floral arrangements, or wedding invitations, allows you to develop in-depth expertise and cater to clients with specific needs. This specialization can help you position yourself as a go-to expert in your chosen area and attract clients seeking those specific services.

Clearly defining your service packages is also crucial for attracting the right clients. It’s important to outline the specific services included in each package, such as event planning, coordination, design, production and vendor management. Clearly communicate the scope of your services, pricing, and any additional fees or options.

By providing transparent and detailed information, you can help clients understand the value you offer and make informed decisions about choosing your services.

Building a strong network 

Cultivating strong relationships with reliable vendors is essential for delivering exceptional events. Take the time to build a network of reliable caterers, venues, florists, photographers, and other wedding professionals with whom you can collaborate. You can attend industry events, join professional organizations, and leverage online platforms to connect with these potential partners. In your approach, be sure to prioritize building trust and open communication with your vendors to ensure smooth collaboration.

When it comes to working with vendors, protecting your business and clients requires clear and comprehensive contracts. With the help of a legal professional, you will need to outline the terms, conditions, and responsibilities of both parties in written agreements. Be sure to specify services provided, payment terms, cancellation policies, and any liabilities. And always review and update contracts regularly to reflect current industry standards and legal requirements.

By having well-defined contracts in place, you can mitigate risks, protect your interests, and build trust with clients.

Mastering the details 

Efficiently managing event timelines and schedules is crucial for a successful event planner. And thankfully, in this day and age there is a multitude of digital options for this very purpose.

Utilizing digital project management tools and software is essential for maintaining organization and ensuring seamless event execution. These digital platforms offer a range of features, from task management and scheduling to resource allocation and communication. By leveraging technology, you can streamline your business workflows, improve efficiency, and minimize the risk of errors.

And it goes without saying that creating detailed checklists and timelines is fundamental to successful event planning. These documents outline every aspect of the event, from initial consultations to the final cleanup. Checklists help ensure that no detail is overlooked, while timelines provide a clear roadmap for both the planner and the client. By clearly defining tasks and deadlines, event planners can effectively manage expectations and reduce stress.

NOTE: Planning Pod’s end-to-end digital event management solutions include a full suite of event planning tools and pre-built templates for checklists, itineraries, task management, and CRM (Customer Relationship Management) activities.

Protecting your business 

Unforeseen circumstances often arise during events of any kind. From getting rained out to a catering van breaking down on the highway, unexpected challenges can pop up seemingly out of nowhere. 

Protecting your event planning business with adequate insurance coverage is essential for mitigating financial risk. General liability insurance safeguards your business against claims of bodily injury or property damage, while professional liability insurance (also known as errors and omissions or E&O insurance) protects against claims of negligence or mistakes in your professional services.  

Click here to read more about different types of event insurance for your business.

Developing a comprehensive crisis management plan is also crucial for handling unexpected challenges with composure and efficiency. This plan should outline potential emergencies, such as venue issues, vendor cancellations, or severe weather, and establish clear procedures for responding to each scenario. By having a well-defined crisis management plan in place, you can minimize disruptions and maintain client satisfaction.

Personal development and growth: Nurturing your business

Balancing work and life .

Event planning is a notoriously time-consuming role, not to mention running an entire business centered around it. With countless details to manage, deadlines to meet, and client expectations to exceed, it’s easy to find yourself overwhelmed. Balancing the demands of the job with personal life can be a constant challenge, especially when you are first starting a wedding planning business or event planning firm.

Effective time management is crucial for maintaining a healthy work-life balance in the event planning industry. By implementing time management tools and strategies, event planners and business owners can reduce stress, increase productivity, and prevent burnout. Prioritizing tasks, delegating responsibilities when possible, and setting clear boundaries between work and personal life are truly essential for long-term success and job satisfaction.

Building a strong team

As your event planning business grows, you may find the need to expand your team to handle increased workload and client demands. This decision involves careful consideration of your business goals, financial resources, and the specific skills required.

Deciding whether to hire employees or contractors depends on several factors, including the nature of the work, budget constraints, and desired level of control. Employees offer stability and consistency, while contractors provide flexibility and specialized expertise. Carefully evaluate the pros and cons of each option to determine the best approach for your business.

Fostering a positive and collaborative work environment is essential for building a strong and successful team. Create a culture of open communication, mutual respect, and shared goals. Empower your team members, provide opportunities for professional growth, and recognize their contributions. By investing in your team, you can create a strong foundation for your event planning business.

Staying ahead of the curve 

The event planning industry is constantly evolving, with new trends and best practices emerging regularly. To stay ahead of the curve and maintain a competitive edge, it’s essential to attend industry conferences, workshops, and webinars. These events provide valuable opportunities to learn from experienced professionals, network with peers, and discover innovative ideas.

Obtaining relevant certifications can also significantly enhance your credibility and expertise as an event planner and business owner. These credentials demonstrate your commitment to professional development and your knowledge of industry standards. By showcasing your certifications, you can differentiate yourself from competitors and build trust with potential clients.

And it goes without saying that such workshops, certifications and training will prove invaluable prior to opening your event or wedding planning business.

Remember that continuous learning and skill development are essential for elevating your event planning business. Seek out opportunities to expand your knowledge in areas such as design, technology, and marketing. By staying curious and open to new ideas, you can enhance your ability to create exceptional events and exceed client expectations.

Simplify your event planning with Planning Pod. Our all-in-one platform is designed to handle every aspect of your events, from conception to completion. Join the growing community of professionals who rely on Planning Pod to deliver exceptional experiences. Get started today!

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Great guide for aspiring event planners! Turning a passion into a profitable business is all about strategic planning, and this post covers the essentials to get started.

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7 Top Corporate Event Management Companies in India

• July 24, 2024

Table of Contents

Are you seeking to orchestrate an unforgettable corporate event? Look no further! In the bustling landscape of corporate events , the right event management company can make all the difference. From conceptualization to execution, their expertise can elevate your event from ordinary to extraordinary.

Choosing the right event management company is not just about convenience; it’s about ensuring the success and impact of your event. According to a survey by  Harvard Business Review, 95% of people said that face-to-face meetings are essential to building long-term business relationships. With so much at stake, it’s essential to partner with a company that not only meets but exceeds your expectations.

In this comprehensive guide, we promise to spotlight the top 7 corporate event management companies in India. These companies have distinguished themselves through their expertise, creativity, and unwavering commitment to excellence. Whether you’re planning a large-scale conference or an intimate corporate retreat, our curated list will help you navigate the realm of corporate event management with confidence and clarity.

Importance of Expert Event Management

Corporate events are not just gatherings; they are opportunities for brands to shine, leaving a lasting impression on clients, stakeholders, and employees alike. A well-organised corporate event can significantly enhance brand reputation and contribute to overall business success. According to a study by Bizzabo , 80% of marketers believe that live events are critical to their company’s success, highlighting the profound impact of events on brand recognition and customer loyalty.

However, orchestrating a successful corporate event is no easy feat. It involves a myriad of tasks, from venue selection and logistics planning to guest management and entertainment coordination. The complexities involved in managing corporate events can quickly overwhelm even the most seasoned professionals. 

This is where professional assistance becomes indispensable. Event management companies specialise in navigating these complexities with finesse, ensuring seamless execution and memorable experiences for all stakeholders involved. Their expertise extends beyond logistics; they bring creativity, innovation, and strategic thinking to the table, transforming visions into reality. 

By entrusting your event to a reputable event management company, you can rest assured that every detail will be meticulously planned and flawlessly executed, allowing you to focus on your core business objectives. As we delve deeper into our exploration of the top corporate event management companies in India, it becomes increasingly evident that their expertise is indispensable in today’s competitive business landscape.

What Makes a Top Event Management Company?

When evaluating event management companies, it’s essential to consider several key factors that distinguish the best from the rest. These criteria serve as benchmarks for assessing expertise, creativity, reliability, and overall excellence in event management.

• Expertise: The best event management companies excel in planning and executing events flawlessly. They handle logistics, coordinate vendors, manage budgets, and minimise risks efficiently. Look for companies with a proven track record of managing various events successfully.
• Creativity: Top event management companies are known for their creativity. They bring innovative ideas to make each event unique and memorable. Whether it’s designing immersive experiences, using cutting-edge technology, or creating compelling event themes, creativity sets them apart.
• Reliability: Reliable event management companies deliver results on time and within budget. They communicate clearly, have transparent processes, and solve problems proactively. Clients can depend on them to ensure a successful event.
• Industry Recognition: Recognized event management companies have received awards and certifications for their outstanding work. These accolades show their commitment to quality and innovation. Look for companies with a strong reputation in the industry.

By carefully evaluating these key criteria, we have curated a list of the best partners to bring your corporate event vision to life with confidence and success.

Top 7 Corporate Event Management Companies in India

As we explore corporate event management in India, let’s highlight the top 7 companies known for their expertise, creativity, and reliability. These companies offer seamless and memorable event experiences to clients nationwide.

1. JTB India

JTB India redefines corporate event management through Strategic Meetings Management (SMM) solutions tailored to optimise every facet of your organisational gatherings. Leveraging advanced technology and a wealth of expertise, our SMM program empowers businesses to achieve unparalleled efficiency and success in their event planning endeavours. 

We’re at the forefront of transforming corporate event management through advanced technological solutions. Our comprehensive suite of services is meticulously tailored to cater to the diverse needs of our clients, ensuring flawless planning, execution, and optimization of every event. Whether you’re orchestrating a corporate gathering, designing bespoke travel experiences, or streamlining meeting management processes, we leverage the power of technology to deliver unparalleled results. We offer a comprehensive suite of services tailored to diverse client needs. 

• Extensive Industry Experience: With decades of experience in the event management industry, JTB India brings a wealth of knowledge and expertise to every project, ensuring optimal outcomes for clients.
• Global Reach: With a network of offices and partners across India, JTB India can execute events seamlessly in any location, from bustling metropolises to remote destinations.
• Innovative Solutions: JTB India is known for its innovative approach to event planning, leveraging cutting-edge technology and creative thinking to deliver immersive and impactful experiences for clients and attendees alike.
• Modern Technology, JTB Connect : An innovative platform revolutionising event management. JTB Connect offers a range of features including streamlined communication channels, real-time event updates, interactive participant engagement tools, and comprehensive data analytics, empowering clients to plan, execute, and evaluate events with unparalleled efficiency and effectiveness.
• Personalised Service: JTB India prides itself on providing personalised service tailored to the unique needs and objectives of each client. Our dedicated team works closely with clients from concept development to execution, ensuring every detail is meticulously planned and flawlessly executed to exceed expectations.

Key Features 

• End-to-End Event Management: JTB India offers comprehensive event management solutions, covering everything from concept development and planning to execution and post-event evaluation.
• Sustainable Events : JTB India is committed to sustainability and environmentally responsible event management practices. From eco-friendly venue selection to waste reduction initiatives, they strive to minimise the environmental impact of events while maximising their positive social and economic contributions.
• Dedicated Account Management: Each client is assigned a dedicated account manager who serves as a single point of contact throughout the event planning process, ensuring clear communication and seamless coordination.
• Commitment to Quality: JTB India is committed to delivering excellence in every aspect of event management, adhering to strict quality standards and best practices to exceed client expectations.

Disadvantages 

• Our technology JTB Connect is working on adding more integration to offer advanced experience. 

With its sterling reputation, proven track record, and commitment to excellence, JTB India continues to set the benchmark for corporate event management in India.

2. Percept D Mark

Continuing our exploration of the top corporate event management companies in India, let’s now turn our attention to Percept D Mark. Renowned for its innovative approach and stellar track record, Percept D Mark has carved a niche for itself in the competitive landscape of event management. They specialise in crafting bespoke event experiences that captivate audiences and elevate brands to new heights. 

• Percept D Mark is synonymous with creativity, consistently pushing the boundaries of event design and execution to deliver unparalleled experiences that leave a lasting impression.
• With a vast network of industry contacts and strategic partnerships, Percept D Mark has access to top-tier vendors, corporate event venues, and talent, ensuring seamless collaboration and flawless execution.
• Percept D Mark offers a comprehensive suite of services, including event planning, production, logistics, branding, and marketing, providing clients with a one-stop solution for all their event needs.

Disadvantages

• Due to their sterling reputation and track record of success, securing the services of Percept D Mark may require booking well in advance, especially during peak event seasons.
• While Percept D Mark delivers exceptional value and quality, their premium services may come at a higher price point compared to some competitors, making them less accessible to budget-conscious clients.

3.  Wizcraft

With a legacy of excellence and a reputation for innovation, Wizcraft is a name synonymous with unforgettable event experiences. Wizcraft specialises in crafting immersive and impactful events that resonate with audiences and elevate brands to new heights. From grand galas to intimate corporate gatherings, Wizcraft has the expertise and creativity to bring any event vision to life with flair and finesse.

• Wizcraft is renowned for its creative prowess, consistently pushing the boundaries of event design and storytelling to create memorable experiences that captivate and inspire.
• It boasts an extensive network of industry contacts and strategic partnerships, granting them access to top-tier vendors, venues, and talent. This allows for seamless collaboration and execution of events, ensuring exceptional quality and results.
• Wizcraft boasts an extensive network of industry contacts and strategic partnerships, allowing them to access top-tier vendors, venues, and talent, ensuring seamless collaboration and execution.
• Due to their sterling reputation and track record of success, securing the corporate event services of Wizcraft may require booking well in advance, particularly during peak event seasons.
• While Wizcraft delivers exceptional value and quality, its premium services may come at a higher price point compared to some competitors, making them less accessible to budget-conscious clients.

4. Wow Events

Wow Events is a force to be reckoned with in the industry. They specialise in curating unforgettable event experiences that leave a lasting impression on attendees and stakeholders alike. From conceptualization to execution, Wow Events takes pride in delivering seamless and memorable events that exceed client expectations.

• Known for their meticulous attention to detail, Wow Events ensures that every aspect of the event is flawlessly executed. 
• Wow Events prioritizes client satisfaction and works closely with clients to understand their vision, preferences, and objectives. 
• With a commitment to environmental sustainability, Wow Events integrates eco-friendly practices into their event planning and execution. 
• Wow Events’ vendor network may be narrower, potentially limiting options for sourcing supplies, services, and entertainment. 
• They may face challenges in terms of brand recognition and market visibility. Building a strong brand presence and reputation requires strategic marketing efforts and consistent delivery of high-quality events to garner recognition and trust from clients and stakeholders.

5. Balmer Lawrie

Balmer Lawrie is a name synonymous with professionalism and reliability in the industry.

Balmer Lawrie specialises in providing end-to-end event management solutions tailored to the unique needs of each client. From conceptualization to execution, they strive to deliver seamless and memorable event experiences that leave a lasting impression.

• With decades of experience in the industry, Balmer Lawrie brings a wealth of knowledge and expertise to every project, ensuring optimal outcomes for clients.
• Balmer Lawrie has a widespread presence across India, allowing them to execute events seamlessly in any location, from bustling metropolises to remote destinations.
• Balmer Lawrie takes an event personalisation approach to event management, working closely with clients to understand their objectives and preferences, and then delivering tailored solutions that exceed expectations.
• While Balmer Lawrie delivers exceptional quality and service, their premium offerings may come at a higher price point compared to some competitors, making them less accessible to budget-conscious clients.
• Due to their standardised processes and protocols, clients seeking highly customised or niche solutions may find Balmer Lawrie’s offerings somewhat restrictive.

6. Cineyug Celebrations

Cineyug Celebrations is a top choice for corporate event management, combining creative expertise, industry experience, and personalised service to deliver outstanding results. With their commitment to excellence and client satisfaction, Cineyug Celebrations continues to set the standard for top corporate event management companies in India.

• The company can leverage its strong ties with the entertainment industry to secure top-tier celebrity appearances and performances for events, enhancing its allure and appeal. 
• Embracing cutting-edge technology, the company incorporates innovative solutions such as virtual reality, augmented reality, and live streaming into its events, enhancing engagement and interactivity. 
• Despite its versatility, Cineyug Celebrations may have limitations in organizing niche or specialised events that fall outside its core expertise. 
• Delivering events of such high caliber comes at a premium cost, making Cineyug Celebrations’ services inaccessible to budget-conscious clients. 

7. E-Factor Entertainment

E-Factor Entertainment exemplifies excellence in corporate event management, combining creative expertise, strategic thinking, and meticulous execution to deliver outstanding results. With its commitment to quality and client satisfaction, E-Factor Entertainment continues to be a top choice for discerning clients across India.

• It offers a diverse range of events catering to various interests and demographics. 
• The company has established a robust network of vendors, suppliers, and partners across India, enabling them to access top-notch resources and services at competitive rates. 
• Coordinating various aspects of event logistics, such as transportation, accommodations, and security, can be complex and prone to unexpected issues. 
• Organizing large-scale events can be financially burdensome, especially considering venue rentals, artist fees, marketing expenses, and other overhead costs. 

Choosing the best event management company can be tough but it’s vital as it can make a huge difference. From ensuring seamless execution to crafting memorable experiences, the right company can elevate your event to new heights. Throughout this exploration of the top corporate event management companies in India, we’ve witnessed the diverse expertise, creativity, and reliability they bring to the table. Each company has its unique strengths and offerings, catering to the varied needs of clients across industries.

As you plan your next corporate event, we encourage you to leverage the insights provided here to make informed decisions. Whether you’re hosting a large-scale conference or an intimate retreat, selecting the right event management company is paramount to the success of your event. That’s where JTB India comes in to enhance and manage your end-to-end corporate event with professionals. Get in touch with us and discuss your needs, objectives, and vision to kickstart the planning process. Make your corporate event a resounding success with the expertise and support of top corporate event management companies in India.

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Sebi approves IIHL's acquisition of PMS business unit of Invesco AMC

The competition commission of india (cci) has already granted its consent to iihl for acquiring 60 per cent shareholding in each of invescoasset management (india) pvt ltd and invesco trustee pvt ltd.

IIHL's ownership will benefit Invesco to expand into more Indian cities and towns due to the presence of a strong domestic partner.

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Right to Repair: What’s the repairability index that Centre is planning for electronics?

The Centre plans to give consumers the ‘Right to Repair.’ The repairability index will rate electronics like mobile phones on key parameters including availability of technical documents and spare parts, ease of disassembly, and pricing read more

The Centre wants to launch a repairability index for electronics.

The Consumer Affairs Ministry made the announcement at a ‘Right to Repair’ workshop on Thursday.

Consumer Affairs Secretary Nidhi Khare said, “As India emerges as the third largest economy in the world, we should have a vibrant and tech-savvy repair system.”

“India can become a repair hub for the world,” Khare added.

This is part of the Centre’s plan to give consumers the ‘Right to Repair.’

This concept states that when a consumer buys a product, he or she owns it completely “for which the consumers should be able to repair and modify the product with ease and at reasonable cost, without being captive to the whims of manufacturers for repairs.”

The government plans to make it mandatory for makers of cars, mobiles and other consumer goods monopolising repair and spare parts market to share with customers product details necessary for repair by self or by self or third parties.

But what do we know about the repairability index?

Let’s take a closer look:

What do we know?

The Consumer Affairs Ministry is spearheading the initiative.

The repairability index will score electronics like mobile phones on key parameters.

These include availability of technical documents, ease of disassembly, spare parts availability and pricing.

This score will allow consumers to understand, before they buy a product, how easily it can be repaired.

This will let consumers make informed decisions about their purchases.

According to The Times of India, manufacturers will have to put the product’s repairability index on display.

Officials told the newspaper that the products would be rated on a sliding scale of 1 to 5.

The lowest score, 1, would be assigned to products that are at risk of being damaged easily.

These products would need to be completely disassembled to access a particular part.

Products that have some components that can be accessed easily while others need complex disassembly will be allotted a score of 3.

Products that are easy to repair, which allow direct access to battery or the display without being disassembled, will be given the maximum score of 5.

The proposed index will be similar to initiatives in other countries, such as France.

The aim of this repairability index is to address the growing e-waste problem and encourage manufacturers to produce more easily repairable items.

The newspaper reported that the ministry will come up with a regulatory framework.

As per Digit , such a scheme could be vital for a country like India – which is the world’s third-largest producer of electronic waste behind China and the United States.

The Centre has already launched its Right to Repair Portal.

The portal has seen 63 companies, of which 23 are from the mobile and electronics sector, participate.

The portal has been set up to offer consumers with the information and resources they need to repair their devices.

Thursday’s workshop was aimed at establishing a consensus among industry stakeholders on “key parameters for accessing and evaluating repairability index” as well as promoting longevity in product design, and democratising repair information to enhance consumer experiences in reusing the mobile and electronics products they own.

It was attended by the top players in the industry, as per the newspaper.

Additional Secretary Bharat Khera during the workshop emphasised the need for transparent and affordable repair solutions, increased consumer awareness, and support for local repairers.

Joint Secretary Anupam Mishra highlighted concerns about the lack of genuine spare parts in local markets, compatibility issues with product components, and the absence of information for consumers to repair their own devices.

With inputs from agencies

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Businesses Are Already Girding for Next Phase of the U.S.-China Trade War

Alarmed by the prospect of increased tariffs on Chinese goods if Donald Trump is elected, some American companies are stockpiling parts and delaying expansions.

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By Peter S. Goodman

Reporting from Allentown, Pa.

If not for the trade war between the world’s two largest economies, Easy Signs would now be hiring dozens of workers at its factory in Allentown, Pa. It would be readying plans to build a second plant somewhere out West — Salt Lake City was a contender — generating another 100 jobs.

Based in Australia, Easy Signs manufactures banners and marketing installations for corporate events, using huge printers to press logos and slogans onto rolls of cloth. Its American business has been growing 70 percent a year. Still, the company is putting off an expansion.

Its cloth signs are displayed on aluminum stands made in China. Those products are now subject to a series of tariffs reaching as high as 365 percent under a policy set in motion by former President Donald J. Trump and continued by the Biden administration in the name of protecting American industry from Chinese government subsidies.

The costs of imported components could increase further should Mr. Trump win November’s presidential election and follow through on his threat to add a tariff of 60 percent or more on all Chinese goods, and 10 percent to all imports.

“That’s definitely a scary concept,” said Andy Fryer, co-founder of Easy Signs. “The whole feasibility goes out the window.”

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Higher Education

Five reasons your business continuity plan will fail — and how to fix them.

By Michael Berman , Leah Kraus , Jacqueline Pitter and Geoffrey Tritsch

August 28, 2024

No campus is immune from disaster. Fires, extreme weather and bad actors are everywhere. President Dwight D. Eisenhower said, “In preparing for battle, I have always found that plans are useless, but planning is indispensable.” This also applies to disaster planning. If you are writing or updating your business continuity/disaster recovery plan, avoid these five common mistakes:

Putting technology before people

The IT team has two roles in disaster recovery: restoring IT systems and assisting other departments to resume their institutional-critical work.

IT disaster planning is not only about technology. Students, faculty and staff don’t care about your servers. They care about the applications they need to turn in assignments, conduct their research and do their jobs. Your plan should focus on this result rather than on the technology itself. 

In any disaster situation, address the specific issue at hand by enabling your skilled, dedicated people with the information and resources they need. The quickest option for resuming normal operations may look nothing like what was in place before the disaster. Don’t let the perfect be the enemy of the good.

Planning for the event

You can’t plan for every eventuality, especially when disasters are rarely single events. More often than not, a disaster is a series of events that all happen together. Don’t try to write a “cookbook” — a rigid step-by-step approach to addressing disasters. Instead, your plan should provide easy access to the resources, configurations, processes, information, personnel, pre-arranged relationships, outside resources and alternate sites needed for effective response. The key is to research and develop strategies to resolve problems now — not in a time of crisis.

Failing to communicate

Just as a disaster does not occur in a vacuum, neither does disaster recovery. The people affected by the disruption will be rightfully scared, concerned and/or interested. The success of disaster recovery depends on effective communications, which means a different plan for internal and external constituencies.

Insulate those working on disaster recovery efforts from onlookers and those who want to help. Set up a communications team to ensure that external messages are timely, clear, easy to understand and consistent.

Take time before a disaster strikes to think about communications flow: 

• How do you ensure that the essential personnel (on- and off-campus, inside and outside of IT) can all be reached?
• What if the disruption eliminates your primary communication channel?
• How will you update concerned users, students, parents and other stakeholders?
• Can you prepare help desk messages, website splash pages and web banners to ease worries during a crisis?

Be sure to involve your human resources, legal and public relations departments in both planning and response.

Failing to practice is practicing to fail

Just as you wouldn’t expect actors to perform in a play without rehearsal, your plan will need to be assessed and tested regularly. Like any muscle, a plan that isn’t exercised atrophies. 

Testing should run the gamut from walking through hypothetical scenarios, to simulations, to announced or unannounced live exercises. Testing will reveal missing critical documentation and areas requiring additional training. Involve everyone who might be needed in a real disaster, including IT staff, public safety, facilities, communications, risk management and even campus leadership.

Don’t be afraid of incremental improvements. Training, and real-world disaster responses, should be used to update the plan. All improvements should be incorporated into the plan. Train on the document and document the training.

Creating a dusty binder instead of a living document

If your sole reason for developing a disaster plan is to satisfy your external auditors, then your plan can sit on a shelf to be dusted off annually. If you want the plan to be useful in an actual emergency , then it needs to be a living document that is routinely updated. Technology, systems, personnel and applications all change. Priorities, procedures, places, people and their relationships all need to be kept current, and that means regular tests, re-evaluations and updates.

You can’t plan for disasters, but avoiding these common mistakes will go a long way in ensuring you have a plan you can really use in an emergency. Keep in mind the words of Jon William Toigo from his excellent book Disaster Recovery Planning:

“Even those who have successfully managed recovery efforts are quick to point out that their recovery strategies failed in as many parts as they succeeded. Almost invariably, they attribute successful recovery to luck, hard work, on-the-spot ingenuity and innovation, and God. While all believe that outcomes would have been very different had no contingency planning been undertaken, to a person they concede that their plans were – and could only be – imperfect.”

This article was written by members of Vantage Technology Consulting Group , a firm that provides integrated technology visioning, planning and design for clients in higher education, health care and commercial markets.

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