business plan on event management company

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

• 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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Event Industry Statistics

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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Event Planning Business Plan Template

Written by Dave Lavinsky

Event Planning Business Plan

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their event planning businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an event planning business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Event Planning Business Plan?

A business plan provides a snapshot of your own event planning business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes research to support your plans.

Why You Need a Business Plan for Your Event Planning Company

If you’re looking to start an event planner business or grow your existing one you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your event planning business to improve your chances of success. Your event planning business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Event Planning Businesses

With regards to funding, the main sources of secure funding for an event planning business are bank loans, personal funding, credit cards, and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Another common form of secure funding for an event planning business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan. Venture capitalists will not fund an event planning business.

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How to write a business plan for event planning.

When you write a business plan, you should include the following 10 key aspects:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each important component of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the event planning business industry. Discuss the type of business you are operating. Detail your direct competitors. Give an overview of your target audience. Provide a snapshot of your marketing strategy and plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of business you are operating.

For example, you might operate one of the following types:

• Corporate Events : this type of event planning business caters to businesses, charities, nonprofit organizations, and the like to plan fundraisers, receptions, conventions, trade shows, competitions, award ceremonies, product launches, and other types of meetings.
• Social Events : this type of event planning business targets middle- to upper-income individuals and families to plan events such as weddings, birthdays, reunions, and other types of celebrations.
• Niche Events : some event planners specialize in just one of the above event types.

In addition to explaining the type of event planning business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new contracts, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your business structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the event planning business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the industry educates you. It helps you understand the target market in which you are operating. 

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards events that adhere to social distancing guidelines, it would be helpful to ensure your plan details what approach you would take (suggested venues, creative solutions for inclusion, etc.).

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

• How big is the event planning industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the clientele you serve and/or expect to serve.

The following are examples of customer segments: private and corporate clients, high-income households, medium-income households, engaged couples, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of event planning company you operate and the event services you offer. Clearly, businesses would want a different atmosphere, pricing, and product options, and would respond to different marketing promotions than engaged couples.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the age groups, genders, locations, and income levels of the customers you seek to serve. Because most event planning companies primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target market. The more you can understand and define these needs, the better you will do to attract customers and retain your existing customers.

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other planners and businesses that offer event planning services.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes caterers, venues, and customers planning events on their own. You need to mention such competition to show you understand that not everyone who throws a party hires an event planner each time.

With regards to direct competition, you want to detail the other businesses with which you compete. Most likely, your direct competitors will be other businesses that offer event planning services very close to your site.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What planning services do they offer (wedding planning, baby showers, birthday parties, social events, etc.)?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. 

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior event management options (e.g., more cuisine types, better venue options, etc.)?
• Will you provide event options that your competitors don’t offer?
• Will you make it easier or faster for customers to book your services (e.g., utilizing event planning software, etc.)?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an event management business plan, your marketing strategy should include the following:

In the product section, you should reiterate the type of business that you documented in your Company Analysis. Then, detail the specific products/services you will be offering. For example, in addition to designing the event, locating the venue, arranging vendors, coordinating personnel, and supervising the event, will you offer services such as catering, decor, and entertainment?

In this section, document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections, you are presenting the services you offer and their prices.

Place refers to the location of your event management business, conference centers, and/or venues in which you own and/or have a relationship. Document your location and mention how the location will impact your success.

The final part of your event planning business marketing plan is the promotions section. Here you will document how you will drive customers to your site. The following are some promotional methods you might consider:

• Social media marketing
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites 
• Partnerships with local organizations (e.g., getting on the list of recommended vendors with local venues)
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your event planner business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your event planning business such as interviewing clients, making arrangements, keeping the store/studio clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th customer, or when you hope to reach $X in total sales. It could also be when you expect to hire your Xth employee or launch in a new market.

Management Team

To demonstrate your own event planning business’ ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally, you and/or your team members have direct experience as event planners or in the industry. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in event planning and/or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you plan one event per week or several events? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 event contract, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During those 180 days, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key startup costs needed in starting or growing your business:

• Location build-out including design fees, construction, etc.
• The total cost of equipment and furnishings like decor, sound systems, etc.
• Cost of maintaining an adequate amount of supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

  Event Planning Summary Putting together your own event planner business plan is a worthwhile endeavor. If you follow the event planning sample template above, by the time you are done, you will truly be an expert. You will really understand the business, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful event planning business.

Event Planning Business Plan FAQs

What is the easiest way to complete my event planning business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Event Planning Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of event planning businesses.

  OR, Let Us Develop Your Plan For You Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

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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.

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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 Write a Successful Event Planning Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for event planning businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every event planning business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is an Event Planning Business Plan?

An event planning business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write an Event Planning Business Plan?

An event planning business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Event Planning Business Plan

The following are the key components of a successful event planning business plan:

Executive Summary

The executive summary of an event planning business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your event planning company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your event planning business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your event planning firm, mention this.

You will also include information about your chosen event planning business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of an event planning business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the event planning industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the customers of an event planning business may include:

• Wedding planners needing help with transportation logistics
• Conference organizers wanting assistance with on-site registration
• Caterers in need of assistance to manage the timing of service delivery

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or event planning services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your event planning business may have:

• You are the only event planner in your city with an events app that allows customers to book and manage their event logistics in one place.
• You have a team of experienced event planners who specialize in military funerals, which is a niche market.
• Your company is the go-to choice for conference organizers looking for assistance with on-site registration and event management.

This is not an exhaustive list, but it gives you an idea of the types of competitive advantages you may have.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your event planning business via a combination of these channels.

Operations Plan

This part of your event planning business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for an event planning business include reaching $X in sales. Other examples include launching a new product/service, expanding to a new market, or hiring key personnel.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific event planning industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Event Planning Business

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Event Planning Business

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup event planning business.

Sample Cash Flow Statement for a Startup Event Planning Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your event planning company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is an essential tool for any event planning company. If you are seeking funding from investors or lenders, it’s important to have a polished and professional business plan. Use the outline above as a guide as you write your own event planning business plan.   

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Who knows the importance of a well-laid plan better than event planners? We don’t have to tell you that you absolutely need to write an event planning business plan, but we’ll tell you how to do it. 

And don’t worry – an event planning business plan isn’t just for those who’re just starting their event planning business . It’s also for those who want to avoid business risks, explore better opportunities, and build trust with their clients on a deeper level. If some of these things describe your event planning business, let’s discover the essentials of your business plan and how to develop one yourself. 

Why Event Planning Business Plan Matters

A well-thought-out event planning business plan is crucial for several reasons, and it can empower entrepreneurs in the event planning industry such as yourself to achieve a variety of objectives. Here’s why it matters and what you as an event planning business owner will achieve with a solid business plan:

• A business plan serves as a roadmap for your event planning business. It outlines your goals, strategies, and the steps you need to take to achieve success.
• You’ll use the plan as a guiding document to stay focused on your objectives and navigate the complexities of the event planning industry.
• Investors and lenders often require a detailed business plan before considering any financial support.
• An event planning business plan showcases the viability and potential profitability of your business, attracting investors and securing funding.
• The process of creating an event planning business plan encourages you to thoroughly analyze their market, competitors, and target audience.
• Once you’ve gone through that process, you’ll make informed decisions based on this analysis, adapt strategies to changing market conditions, and maximize opportunities.
• A well-crafted event planning business plan allows you to clearly articulate your unique selling propositions (USPs) and competitive advantages.
• Use these differentiators to stand out in a crowded market, attract clients, and establish a strong brand presence.
• Financial projections included in the business plan provide a clear picture of revenue, expenses, and potential profits.
• Entrepreneurs can use this financial data to manage their resources effectively, make budgetary decisions, and ensure the financial health of their event planning business.
• The marketing and sales strategies outlined in the business plan help your event planning business to define its target audience and communicate its brand message.
• You’ll leverage the event planning business plan to implement effective marketing campaigns, build brand awareness, and attract clients.
• The business plan includes a risk analysis, identifying potential challenges, and outlining mitigation strategies.
• Instead of waiting, you can proactively address risks , enhancing the resilience of your event planning business and ensuring continuity in the face of unforeseen challenges.
• Sharing a comprehensive business plan with potential clients demonstrates professionalism and transparency.
• Entrepreneurs can use the plan to build trust with clients, assuring them of their capabilities and commitment to delivering successful events.

The Essential Elements of Successful Event Planning Business Plan

Before you get overwhelmed with all the different terms and instructions, let me assure you that writing an event planning business plan is easier than it seems. Let’s start with baby steps to go over the essential elements of a successful event planning business plan, and continue with learning how to write each of these sections for your business.

• Executive Summary
• Company Description
• Services You Offer
• Target Market
• Event Planning Market Analysis
• Marketing & Sales Strategy
• Operational Plan
• Team Structure
• Financial Projections
• SWOT Analysis
• Legal Structure
• Funding Request (if applicable)

How to Write an Event Planning Business Plan?

There are exactly 13 steps that separate you from your event management business plan. 

Each of these steps is a separate section in the plan, and we’ve got you covered with actionable tips and examples on how to write each one. We recommend you start taking notes and working on your event planning business plan along with reading further. 

1. Writing Executive Summary for Event Management Business Plan

Writing an effective executive summary for your event planning business plan is crucial, as it’s the first section potential investors or partners will read. But don’t get it twisted – the executive summary is actually the section you’ll finish at the end. The executive summary should provide a concise overview of your business and its key elements.

It’s basically a snapshot of your entire business plan, so make every word count.

Image by vectorjuice on Freepik

It should entice readers to explore the details while providing a clear understanding of the value your event planning business brings to the market.

And how do you write an executive summary for an event management business plan? We’ve prepared a step-by-step guide and an example!

Start with a strong opening

Begin with a compelling and concise introduction that grabs the reader’s attention. Clearly state the purpose of your business plan and briefly mention your mission or vision for the event planning business.

Provide a brief overview of your business

Offer a snapshot of your event planning business, including its name, location, and the types of events you specialize in. Highlight any unique aspects of your business that set you apart from competitors.

Articulate your unique selling proposition (USP)

Clearly define what makes your event planning business unique and why clients should choose your services. Emphasize any innovative approaches, special expertise, or exclusive services you offer.

Outline your key objectives

Concisely list the main objectives and goals of your event planning business. Keep these goals specific, measurable, and aligned with the overall vision of your business.

Describe your target market

Provide a brief overview of your target audience, including demographics and preferences. Highlight any niche markets or specific industries you plan to focus on.

Introduce your team

Briefly introduce key members of your event planning team, emphasizing their relevant skills and experience. Highlight any unique qualifications that make your team well-suited for event planning success.

Mention key achievements or milestones

If your event planning business has achieved notable milestones or garnered recognition, mention them briefly. This adds credibility and demonstrates your business’s track record.

Summarize your financial projections

Provide a high-level overview of your financial projections, including revenue expectations and growth forecasts. Highlight key financial metrics that showcase the profitability of your event planning business. You can use an AI summarizer to help you list the main points and present them in your proposal

Include a call to action

End the executive summary with a call to action, indicating what you’re seeking from the reader (investment, partnership, etc.). Encourage further exploration of the full business plan.

If all the above procedures seem difficult to you, there is an advanced and more effective way to write an executive summary which is a summary generator . It can help you write concise and unique summaries automatically. All you need to do is paste the necessary details of your event management business plan into the tool and run it. The summary generator will instantly provide an engaging executive summary.

Executive summary for event planning business plan example:

Executive Summary: XYZ Events

• Introduction:

XYZ Events is a dynamic and innovative event planning company located in [City, State]. With a passion for creating unforgettable experiences, we specialize in crafting seamless and unique events that leave a lasting impression. Our mission is to exceed client expectations by delivering exceptional events that reflect their vision and style.

• Key Business Information:

Founded in [Year], XYZ Events has quickly established itself as a leader in the event planning industry. We are proud to offer a comprehensive suite of services, including corporate events, weddings, and social gatherings. Our team of experienced event planners is committed to turning every client’s vision into a reality, providing meticulous attention to detail and unparalleled creativity.

• Unique Selling Proposition (USP):

What sets XYZ Events apart is our innovative approach to event planning. We leverage cutting-edge technology to enhance the planning process and create immersive experiences for our clients. Our team combines creativity with strategic thinking, ensuring that each event not only meets but exceeds expectations. Whether it’s a corporate conference, a dream wedding, or a milestone celebration, XYZ Events brings a fresh and personalized touch to every occasion.

• Objectives:

XYZ Events is poised for strategic growth over the next three years. Our primary objectives include expanding our client base, increasing revenue by 25%, and establishing key partnerships within the hospitality and entertainment industries. We are committed to maintaining our reputation for excellence while embracing new opportunities for innovation and growth.

• Target Market:

Our target market includes corporate clients seeking professional event management, couples looking for a stress-free wedding planning experience, and individuals hosting social events. We understand the unique needs of each segment and tailor our services to create memorable and impactful events.

Led by [Founder/CEO], our team comprises seasoned event planners, designers, and coordinators with a proven track record of success. Our diverse skill set allows us to approach each event with creativity and expertise, ensuring a seamless and enjoyable experience for our clients.

• Financial Projections:

XYZ Events anticipates steady growth, with projected revenue of $[Amount] in the first year and a cumulative growth rate of 20% over the next three years. Our financial projections are based on a comprehensive market analysis and a strong understanding of industry trends.

• Call to Action:

We invite you to explore the detailed business plan to discover how XYZ Events plans to revolutionize the event planning landscape. Whether you’re an investor, potential client, or industry partner, we welcome the opportunity to collaborate and create exceptional experiences together.

XYZ Events is not just an event planning company; we are architects of unforgettable moments. Join us in shaping the future of event experiences.

2. Company Description

Company description exists in your event management business plan to provide an overview of your business, its history, and its structure. But how do you create a solid company description you’ll be proud to put into your business plan for everyone to read?

Begin with a concise and engaging introduction that captures the essence of your event planning business. Clearly state the name of your company and its primary purpose. Your event management business plan should i nclude fundamental details such as the location of your business, the date it was founded, and any key milestones. You should also mention the legal structure of your company (e.g., LLC, sole proprietorship).

Company description should clearly articulate the mission and values that drive your event planning business. Express the purpose of your business and the principles that guide your operations. Another important aspect are also your services, and you should provide a brief but comprehensive overview of the event planning services your business offers. Highlight any specialties or unique aspects that set your services apart. 

More tips for company description in business plan for event hosts:

Explain the problem you solve.

Clearly articulate the problems or challenges your event planning business addresses. Describe how your services meet the needs of clients by providing solutions and creating memorable experiences.

Share your business story

Offer a brief narrative that tells the story of how your event planning business came into existence. Include any inspiration, challenges overcome, or unique experiences that shaped your business.

Highlight key achievements

Mention any notable achievements or milestones your event planning business has reached. This could include successful events, recognition, or significant client satisfaction.

Emphasize your team’s expertise

Introduce key members of your team, emphasizing their relevant skills and experience in event planning. Highlight any certifications, awards, or industry recognition your team has received.

Explain your competitive edge

Clearly define what makes your event planning business stand out from competitors. Emphasize unique features, innovative approaches, or exclusive services that give you a competitive advantage.

Discuss your growth strategy

Outline your plans for the future growth of your event planning business. Discuss any expansion plans, target markets, or strategic partnerships you’re considering.

Remember that the goal of company description is to become a solid foundation for readers to understand your company’s identity and value proposition.

3. Describing Services You Offer in Event Management Business Plan

Describing the services you offer in an event management business plan is a crucial component, as it helps potential investors, clients, and partners understand the scope and value of your offerings. It also helps you make money hosting events , so let’s see how to do it right:

• Begin by clearly defining each service you offer in your event management business. Use concise and specific language to articulate the scope and nature of each service.
• If your event management business provides a range of services, consider grouping them into categories or creating service packages . For example, you might have categories like corporate events, weddings, social gatherings, and conferences.
• Provide an overview of the planning process for each service. Outline the steps involved, from initial client consultation to post-event evaluation.
• Emphasize your ability to customize services to meet the unique needs and preferences of each client.Discuss how you tailor your approach to different types of events and client requirements.
• If you offer day-of coordination or event management services, explain the level of support clients can expect. Highlight your role in ensuring smooth event execution and addressing unforeseen challenges.
• If your event management business leverages technology tools or event management software , mention them. Explain how technology enhances efficiency, communication, and the overall event experience.
• If your services include event design and styling, describe your creative process. Showcase your expertise in creating visually appealing and thematic events.

Image by storyset on Freepik

• If you handle vendor relationships as part of your services, discuss how you source and manage vendors. Highlight your ability to negotiate contracts and secure competitive pricing.
• If your event management business assists with venue selection and logistics, explain your approach. Discuss criteria for venue selection and how you manage logistical aspects like transportation and accommodation.
• If your services involve budgeting and financial management, outline your approach. Explain how you help clients set realistic budgets and manage expenses throughout the planning process.
• If your event management business offers marketing and promotional services, detail your strategies. Discuss how you enhance the visibility of events and attract attendees.
• Include case studies or examples of past events you’ve successfully managed. Use real-world examples to illustrate the effectiveness of your services.
• Highlight your ability to adapt to different event sizes, themes, and cultural considerations. Showcase your flexibility in catering to diverse client needs.

4. Explaining Your Target Market

Explaining your target market in your event management business plan is essential for demonstrating a clear understanding of your potential clients an d how your services meet their needs.  

Because of that, you need to clearly define the demographic, geographic, and psychographic characteristics of your target audience. Identify the specific industries, groups, or individuals you aim to serve with your event management services.

If applicable, segment your target market based on different types of events (e.g., corporate events, weddings, social gatherings). Highlight any niche markets or specialized segments you plan to focus on. Don’t forget to include relevant demographic details such as age, income level, occupation, and education. Specify the size of the target market and any relevant trends within these demographics.

Psychographic factors are also important! Discuss the interests, lifestyles, and values of your target market. Explain how your event management services align with the preferences and attitudes of your audience.

More tips for explaining your target market in business plan:

Consider geographic factors

Outline the geographic locations where your target market is concentrated. If your services are location-specific, explain why you’ve chosen those areas.

Identify pain points and needs

Clearly articulate the pain points, challenges, and needs of your target market. Explain how your event management services address and alleviate these issues.

Highlight trends and market growth

Showcase any relevant trends or growth opportunities within your target market. Discuss how your event management business is positioned to capitalize on these trends.

Competitor analysis

Conduct a competitor analysis within your target market. Identify existing event management companies catering to the same audience and explain how your approach differs or improves upon theirs.

Explain your unique value proposition (UVP)

Clearly define your unique value proposition and how it resonates with your target market. Emphasize what sets your event management services apart from competitors.

Provide testimonials or case studies

If available, include testimonials or case studies from past clients within your target market. Use real-world examples to demonstrate your successful track record.

Discuss decision-making factors

Explain the factors that influence your target market’s decision-making process when choosing an event management service. Highlight how your business addresses these factors and provides solutions.

5. Event Planning Market Analysis

It’s not enough to do market analysis.

Presenting your market analysis clearly and compellingly is crucial in an event management business plan. Here is how to do it:

• Begin the market analysis section with a brief executive summary. Summarize the key findings, such as market size, growth trends, and major opportunities or challenges.
• Provide a general overview of the event management industry. Highlight the significance of the industry and the role it plays for other businesses. 
• Clearly define your target market, including demographics, psychographics, and geographic considerations. Present a detailed picture of the audience you aim to serve with your event management services.
• Present current industry trends and developments. Use charts or graphs to illustrate trends, making the information visually engaging.
• Provide estimates of the overall market size for event management services. Present historical growth data, future projections based on reliable sources and other insightful event statistics.
• Include a comprehensive analysis of your competitors. Create a chart or table that highlights key competitors, their market share, strengths, and weaknesses.
• Present the results of your SWOT analysis.
• Provide insights into the challenges and opportunities within the industry. Discuss how your business plans to navigate challenges and leverage opportunities. For example, how do your competitors effectively leverage event booking systems , and how efficient are they?
• Detail the pricing strategies and fee structures prevalent in the market. Explain your pricing strategy and how it aligns with the perceived value of your services.
• Present findings on consumer behavior when selecting event management services. Discuss factors influencing their decisions and preferences.
• Discuss the distribution channels commonly used in the event management industry. Explain how your business plans to reach and engage your target audience.
• Discuss the impact of technology on event management services. Highlight any technological advancements that your business plans to leverage such as event ticketing apps and tools .
• Explore relevant environmental and social trends influencing event planning preferences. Show how your business is aligned with or responds to these trends.
• Include selected customer feedback and testimonials. Use real-world examples to demonstrate client satisfaction and success stories.
• Incorporate visual aids such as charts, graphs, and tables to present data in an easily digestible format. Use visuals to enhance key points and make the information more engaging.

Remember to tailor the presentation of your market analysis to your specific audience —whether it’s potential investors, partners, or internal stakeholders. Clear and concise communication of your market insights will contribute to a strong and convincing event management business plan.

6. Marketing & Sales Strategy

Next chapter of your event planning business plan is developing and presenting a robust marketing and sales strategy. It’s crucial for attracting clients and investors. Here’s a step-by-step guide on how to formulate and effectively present this section:

Marketing Strategy

Target market and positioning.

• Clearly define your target market segments and demographics.
• Explain how your event management services meet the needs of these specific markets.
• Emphasize the unique value proposition that positions your business uniquely in the market.

Branding and identity

• Outline your brand identity, including logo, colors, and messaging.
• Describe how your brand reflects the values and positioning of your event management business.

Online presence

• Detail your online presence, including a professional website and social media profiles.
• Discuss the platforms you will use to connect with your audience and share updates.

Content marketing

• Explain your content marketing strategy to showcase expertise and engage your audience.
• Detail plans for blog posts, articles, case studies, or other content that demonstrates your event planning knowledge.

Search engine optimization (SEO)

• Discuss your SEO strategy to improve the visibility of your website in search engine results.
• Outline the keywords relevant to your business and how you plan to optimize your online content.

Email marketing

• Detail your email marketing strategy for reaching and nurturing potential clients.
• Discuss the types of emails you’ll send, the frequency, and the goals of your email campaigns.

Networking and partnerships

• Identify networking opportunities within the event planning industry.
• Discuss potential partnerships with vendors, venues, or other businesses that can enhance your service offerings.

Sales Strategy

Sales channels.

• Identify the primary sales channels you will utilize (direct sales, online sales, partnerships, etc.).
• Explain how these channels align with your target market and marketing strategy.

Sales team structure

• If applicable, outline your sales team structure.
• Introduce key members and their roles in the sales process.

Sales tactics

• Provide a detailed explanation of your sales tactics and methodologies.
• Discuss how you plan to approach potential clients, conduct consultations, and close deals.

Pricing strategy

• Clearly outline your pricing strategy for event planning services.
• Explain how your pricing aligns with the value you provide and competitive market rates.

Sales forecast

• Present a sales forecast outlining expected revenue based on your sales projections.
• Break down the forecast by service categories or target markets.

Customer relationship management (CRM)

• Discuss your CRM system and how it will be used to manage client relationships.
• Highlight how you plan to retain clients for repeat business.

Sales promotions and incentives

• Outline any sales promotions, discounts, or incentives you plan to offer.
• Explain how these strategies align with your overall marketing and sales goals.

Presentation Tips

• Use visuals like charts, graphs, and images to enhance the presentation. Create a visual representation of your sales funnel, conversion rates, or growth projections.
• Be concise and use clear language to communicate your marketing and sales strategies. Avoid jargon or overly technical terms that may confuse your audience.
• Present realistic and data-backed projections . Show a clear understanding of your market, industry trends, and potential challenges.

7. Operational Plan

Writing an operational plan for your event management business plan involves detailing the day-to-day operations, logistics, and processes that ensure the successful execution of events. But how do you structure and write an effective operational plan? Let’s see:

• Describe the physical location of your event management business. Discuss any facilities, office space, or storage areas you use to support your operations.
• Outline the organizational structure of your event management team. Introduce key team members, their roles, and responsibilities. Emphasize the expertise and experience that each team member brings to the business.
• Provide detailed job descriptions for each team member. Clearly define the roles and responsibilities associated with event planning, coordination, design, marketing, and any other relevant functions.
• Discuss your staffing plan, including the number of full-time, part-time, and contract staff. Detail any plans for hiring additional team members based on business growth.
• Outline your approach to training and developing your event management team. Discuss ongoing education, certifications, or workshops that contribute to professional development. 
• Detail the workflow and processes involved in event planning and execution. Provide a step-by-step guide, from initial client consultation to post-event evaluation.
• Discuss how you source, negotiate with, and manage vendors. Outline criteria for selecting vendors and maintaining strong relationships with them.
• Identify the technology tools and software you use to enhance operational efficiency. Discuss any event management plugin , project management software, communication tools, or CRM systems.
• Detail your approach to handling event logistics, including transportation, equipment, and supplies.
• Discuss how you ensure that all necessary equipment and materials are available for each event.
• Explain how you maintain high-quality standards in event planning and execution. Detail your quality control processes to ensure client satisfaction.
• Outline measures to ensure the well-being of attendees, staff, and vendors during events.
• Provide an emergency response plan that addresses potential risks during events. Outline procedures for handling unforeseen challenges and ensuring the safety of all involved parties.
• Create a timeline that outlines key milestones and deadlines for event planning and execution. Detail your approach to monitoring and evaluating the success of each event.
• Discuss feedback mechanisms, post-event surveys, and metrics used to assess performance.

8. Team Structure

Explaining the team structure in your event planning business plan provides the reader with a clear understanding of the roles and responsibilities within your organization. You should:

• Include an organizational chart that visually represents the hierarchy and relationships within your event planning team. Clearly show the positions and reporting lines.
• Identify and introduce key leadership positions within your team. This may include the founder/CEO, directors, or senior managers responsible for overall business strategy and decision-making.
• Detail the core event planning team members and their roles. Specify responsibilities such as event coordination, logistics, design, and client communication.
• Provide detailed descriptions of the roles and responsibilities for each team member. Clearly define what each position is accountable for within the event planning process.
• If applicable, detail the responsibilities and contributions of the founder/CEO. Highlight their vision, leadership, and strategic role in the company.

9. Financial Projections for Event Management Business Plan

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Everybody loves money, but not many people love finances and the complications that come with it.

Creating financial projections for your event management business plan involves estimating future revenue, expenses, and profitability. If it seems complicated, it’s better to hire an expert. Here’s a step-by-step guide to help you navigate the process:

Begin by estimating your sales revenue. Break down your services into categories (e.g., corporate events, weddings) and project the number of events you expect to handle.

Consider the pricing strategy for each service and calculate the total sales for each category.

Expense projections

Identify and estimate all the expenses associated with running your event management business. This includes:

• Variable Costs: Directly tied to the number of events (e.g., event materials, transportation).
• Fixed Costs: Remain constant regardless of the number of events (e.g., rent, salaries, insurance).
• One-time Costs: Initial expenses such as marketing campaigns or setting up a website.

Gross profit margin

Calculate the gross profit margin by subtracting the total cost of goods sold (COGS) from the total revenue. This provides a measure of profitability before accounting for fixed expenses.

Operating expenses

List and estimate all operating expenses, including rent, utilities, salaries, marketing, and any other ongoing costs. Break down these expenses into monthly or annual categories.

Net profit or loss

Calculate the net profit or loss by subtracting total operating expenses from the gross profit. A positive result indicates profitability, while a negative result signals a loss.

These are all the most important financial projections, let see some additional ones you can use to strengthen your event planning business plan.

Additional financial projections for event managers:

 cash flow projection.

Create a cash flow projection to estimate the inflow and outflow of cash over a specified period.

Factor in the timing of payments from clients, vendor payments, and other financial transactions.

 Break-even analysis

Perform a break-even analysis to determine the number of events or revenue needed to cover all costs. This helps identify when your business will become profitable.

Sensitivity analysis

Conduct a sensitivity analysis to evaluate the impact of changing variables on your financial projections. Identify key factors that could influence your projections and assess their potential impact.

Financial ratios

Calculate financial ratios such as return on investment (ROI), gross margin, and others relevant to your business. These ratios offer additional insights into your business’s financial health and performance.

Pro forma balance sheet

Create a pro forma balance sheet to summarize your assets, liabilities, and equity at a specific point in the future. This provides a snapshot of your business’s financial position.

Pro forma income statement

Develop a pro forma income statement that outlines expected revenues, costs, and profits over a specified period. This statement provides a comprehensive overview of your business’s financial performance.

 Pro forma cash flow statement

Prepare a pro forma cash flow statement that shows the flow of cash in and out of your business. This statement helps ensure that your business has sufficient cash to meet its obligations.

Graphs and visuals

Use graphs and visuals to present key financial data in a clear and visually appealing manner. Visual aids can make it easier for stakeholders to understand your projections.

10. SWOT Analysis

A SWOT analysis is a strategic planning tool that helps businesses identify their internal Strengths and Weaknesses, as well as external Opportunities and Threats. Conducting a SWOT analysis for an event management business plan can provide valuable insights into its current state and potential future challenges and opportunities. Let’s see how to do it right:

Example: Experienced and Creative Team

Your event management business may have a team with extensive experience and creativity, contributing to the successful planning and execution of events.

Example: Strong Vendor Relationships

If your business has established strong relationships with reliable vendors, it can leverage these connections for better deals, quality services, and smoother event logistics.

Example: Limited Marketing Budget

If your business has a limited marketing budget, it may face challenges in reaching a broader audience and competing with businesses that invest more in promotional activities.

Example: Dependence on Key Personnel

If your business heavily relies on specific individuals, such as key event planners, their absence or departure could pose a risk.

Opportunities

Example: Growing Demand for Virtual Events

If there’s a growing demand for virtual events, your business can seize the opportunity to expand its services to meet this emerging trend.

Example: Collaboration with Local Businesses

Collaborating with local businesses or venues could open up opportunities for mutually beneficial partnerships and increased visibility.

Example: Economic Downturn

Economic downturns can lead to reduced corporate budgets for events, posing a threat to the demand for event planning services.

Example: Intense Competition

An increase in the number of event management businesses in your area could intensify competition, making it crucial to differentiate your services effectively.

SWOT Analysis Overview

Internal factors are within your control and are related to the organization itself. Strengths are positive attributes that contribute to success, while weaknesses are internal challenges that need addressing.

External factors are beyond your immediate control and involve the external environment. Opportunities are favorable external conditions that your business can leverage, while threats are external challenges that your business needs to navigate or mitigate.

11. Legal Structure

In the legal structure section of your event management business plan, you’ll outline the legal framework under which your business operates. This section is crucial for potential investors, partners, and stakeholders to understand the formal structure of your business. Let’s see the exact steps you should take to maximize the impact of this section:

#1 Clearly specify the legal structure of your event management business. Common structures include:

• Sole Proprietorship: Owned and operated by a single individual.
• Partnership: Owned and operated by two or more individuals.
• Limited Liability Company (LLC): Provides liability protection for owners.
• Corporation: Offers separate legal identity and limited liability for shareholders.

#2 Provide details about the ownership of the business. Include the names, roles, and ownership percentages of all owners or partners. Specify if there are any major investors or stakeholders.

#3 Mention the legal registration details of your business, including the business name, registration number, and the jurisdiction where you are registered. Include information about any trademarks or copyrights associated with your business.

#4 Outline how your event management business complies with local, state, and federal regulations. Specify any industry-specific regulations or licensing requirements.

#5 Detail the types of insurance coverage your business carries to mitigate risks. This may include liability insurance, property insurance, or event cancellation insurance.

#6 Highlight key contracts and agreements that govern your business operations. This might include client contracts, vendor agreements, and partnership contracts.

#7 Discuss the measures your business has taken to manage legal and operational risks.

#8 Briefly mention your exit strategy, especially if you plan to sell the business, go public, or transition ownership in the future.

12. Funding Request (if applicable)

If you want to ask for additional funds for your business, that makes your event management business plan even more important. Writing a funding request in your event planning business plan is a crucial section that communicates your financial needs, the purpose for seeking funding, and how the funds will be utilized to achieve business goals. 

Key tips for influential funding requests for event managers:

• Provide a brief overview of your event planning business. Highlight key achievements, milestones, and aspects that make your business stand out. 
• Clearly articulate why you are seeking funding. Specify the purpose of the funds, whether it’s for expansion, marketing, technology upgrades, working capital, or any other specific need.
• Outline the preferred funding structure, such as equity financing, debt financing, or a combination of both. Specify the terms and conditions you are seeking, including the desired interest rates, repayment periods, or equity shares.
• Marketing and advertising.
• Technology upgrades.
• Staffing and training.
• Event logistics and equipment.
• Working capital for day-to-day operations.
• Present relevant financial projections to support your funding request. Show how the infusion of funds will contribute to revenue growth, profitability, and other key financial metrics.
• Discuss the anticipated return on investment for the potential investors. Highlight the expected financial benefits and how their investment will contribute to the business’s success.
• Provide a realistic assessment of potential challenges and how you plan to overcome them.
• If applicable, outline your exit strategy. Explain how investors will realize returns on their investment, whether through an IPO, acquisition, or other means.
• Emphasize your business’s competitive advantage and how the funding will strengthen that position. Highlight unique features, customer satisfaction, or proprietary methods that set your business apart.
• Set clear milestones and targets that will be achieved with the funding. This demonstrates a strategic plan and helps investors understand the trajectory of your business.
• Provide a timeline for when you anticipate securing the funding and when it will be utilized. This helps investors understand the urgency and planning behind your funding request.

13. Appendix

The appendix of an event management business plan is an additional section where you can include supplementary information to support and enhance the main body of the document. It’s a place to include detailed information, data, or documents that are important for understanding your business but may be too extensive or specific to include in the main sections. Here’s a list of items that you might consider including in the appendix of your event management business plan:

• Financial documents, including income statements, balance sheets, event proposal templates , cash flow statements, and break-even analysis. 
• Market research and analysis with detailed surveys, insights, and key competitors. 
• Marketing and promotional materials
• Client testimonials and case studies:
• Legal documents such as business licenses, permits, and contracts.
• Operational documents such as SOPs (standard operating procedures), event management resources , and sample checklists you use for event planning. 
• Detailed information about any specialized event planning or project management software.
• Certificates and awards
• Articles and press clippings

Pro tip : Include a table of contents for the appendix to guide readers through the additional materials.

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How to Write an Event Planning Business Plan

• Event Planning
• Retail Small Business
• Restauranting
• Real Estate
• Nonprofit Organizations
• Import/Export Business
• Freelancing & Consulting
• Food & Beverage
• Construction
• Operations & Success
• Becoming an Owner

Event planners know how important organizational skills are in planning and executing a successful event. But as an event planning business , you may be overlooking the importance of having a business plan that keeps you organized and on track in the big picture operation of your business.

What an Event Planning Business Plan Is

An event planning business plan is a document that outlines the major aspects of your business. It articulates what the business is, its objective, how it operates, the structure and other important elements.

The Need for a Business Plan

Perhaps you are just starting your event planning business and because it is so new, you then wonder if you should devote time to developing a plan. Or, you may have been operating your solo operation from your dining room table for the past several months, and everything seems to be running along just fine.

Either way, a business plan is an important component of your business. Just as you have an event planning checklist to spell out the goal of an event, the budget, the target audience and other such factors.

What to Include in Your Event Planning Business Plan

A business plan will put your objectives in writing and keep you focused on the long-term goals of your event planning business, so note the plan in as much detail as possible to ensure that when you go to actually start your business, you have already ironed out potential setbacks in the planning stage. Use your event planning business plan to keep you on track. Reevaluate your business plan every three months and determine if you need to modify anything to reflect changes in your event planning business.

• Description: The first aspect of your business plan is a description of who you are or what you want your business to be. This can be as simple as just a few sentences. For example, “ABC Event Planning is a full-service event planning business…” or “ABC Event Planning specializes in planning weddings…”.
• Objective: What is your business objective? What are the goals of your business? Are you aiming to be the top event planner in your town or do you have your sights on a loftier goal?
• Structure: How is your business structured? Are you the sole operator or do you have partners or support staff? If you have employees, outline their job responsibilities.
• Products and Services: What product or service does your business offer? Include everything from negotiating hotel contracts to hiring vendors and providing on-site staffing. 
• Target Market: Who are your potential clients?  What segment does your event planning business want to attract? Identify the people who would be interested in your services.
• Marketing: How will you market your business to attract customers? Do you have plans for a website? Will you utilize social media? Attend local business events? 
• Finances: How will you handle any upfront costs of conducting your business? How will billing and payment be processed?

What to Do Once the Plan Is Written 

Do not write out a business plan, check it off your to-do list and tuck it into a drawer. This business plan is the roadmap for your event planning business. Keep it front and center so that you never lose sight of why you started this business, what it is about, where you want to go and how you plan to get there.

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Everything You Need to Write an Effective Event Planning Business Plan

1. Mission statement

2. business structure, 3. products and services, 4. target market and marketing plan, 5. finances, examples of event planning business plans, other event planning business information.

You've gathered your resources, assessed the market, found your ideal business partners, and you're well on your way to starting your own event planning business.

But to make this business a reality, you need funding. And in order to secure funding, you need to make the case that your event management business has all the right parts in place so that once you receive funding, your business can take off.

A business plan makes that case for you by giving potential funders all of the information they need to make a decision on whether or not you are worth their time and money.

However, your business plan is not only a fundraising tool, it's also a road map you will revisit time and again for business accountability. Your business plan will help keep you on track with clearly defined goals and guidelines for your event planning firm.

I've narrowed down five key aspects of your business plan that you will have to hammer home in order to make the most effective case.

The first step to any business plan is to develop a definitive statement that lays out what your event planning business stands for and hopes to accomplish.

A good mission statement is a short (about one to two sentences) declaration of your beliefs, goals, and values as a company or organization.

Here are a few good examples of mission statements:

Leukemia & Lymphoma Society : Cure leukemia, lymphoma, Hodgkin's disease and myeloma, and improve the quality of life of patients and their families.

Make-A-Wish : We grant the wishes of children with life-threatening medical conditions to enrich the human experience with hope, strength and joy.

Sweetgreen: To inspire healthier communities by connecting people to real food.

Other questions you could answer in your mission statement include, what kind of events do you hope to host? Do you want your event planning business to remain local or would you like to see it grow and expand to other areas and states?

Your business plan can only take shape once you have the structure of your company laid out and have identified the key job roles that will serve your business. This assures potential funders that your event planning business is ready to take off and all they need to do is provide the funds that will make it a reality.

Your structure description should include:

Your role within the company

The event planning team that you've assembled along with job titles and job descriptions

What legal form your event planning business operates under ( limited liability company , and S corporation , or a sole proprietorship )

Your prospective vendors and suppliers

Your prospective clients

Not every event planning business is the same. Some cater to large corporate events, while others plan small local events such as weddings and reunions. There are many event types , big and small, such as conferences, seminars, meetings, team building events, trade shows, business dinners, networking events, product launches, and award ceremonies.

These differences in market determine the services and products offered by the event planning business in question. The big question you need to determine for your business plan is how many services you will provide in-house and how many you will have to contract out for from other vendors.

Your products and services overview should address these questions:

What types of events will you plan?

Will you provide in-house catering services or contract out for catering?

Will you provide audio/visual equipment such as lighting and speaker systems for music, or work with outside vendors?

What kind of event marketing services will you provide? Will you provide social media management?

What type of guest invitations and guest correspondence will you offer?

Do you provide venue research or will you have your own venue?

What is your target market and how do you plan on reaching the people in that market?

It's important to know your demographics when marketing your event planning services. If you are targeting weddings, women in their 20s and 30s will be your most likely demographic (however men are more involved in the process than ever ). If you want to focus on conferences and other business-related events, your marketing effort should be geared more towards corporations and nonprofit organizations.

After conducting some demographic research, it's time to put that information to use by drawing up a marketing plan for your event planning business. What will your message be? How will your message be delivered (blog posts, videos, email lists, etc.)?

Want to efficiently manage your marketing plan? You can find the best event marketing software solutions in the Capterra directory.

Marketing strategies:

Social media marketing: As of November 2016 , 69% of all Americans use some sort of social media. This number increased from 11% in 2006. Your business plan should include the steps you will take to build followers and market to customers using Facebook, Twitter, LinkedIn, Snapchat, and Instagram.

Local word of mouth: Although this shouldn't be your main marketing strategy, it's good to show how you will spread the word about your business in your local area. Plan on working with your future vendors and suppliers to spread the word about your event planning services once you've established a relationship.

Traditional marketing: Your business plan can include strategies such as radio advertising, print advertising, and other traditional techniques as long as you think they will benefit your organization and reach your target market.

Finally, your business plan should cover how you plan on financing your event planning business and what kind of revenue you expect once business starts rolling in. This is where a prospective client list will come in handy because it shows that others are willing to pay for your services.

In the finance section of your business proposal, you will list what kind of funding you've already secured (whether from a bank, a friend or family member, or your own savings) and what funding you hope to secure through your business proposal.

Also include all planned expenditures so that potential funders will know what costs to expect for putting on events, and what you will need to hire staff, buy event equipment, lease venues or maintain your own, and market your business and your events. The best way to do this is by including a budget proposal which lists all expenses and forecasted incomes.

Here is a five step guide on building your business budget  from Freshbooks and a few business budget templates to help you get started:

Vertex42 Excel Budget Business Template

Intuit Quickbooks Startup Business Budget Template

Microsoft Office Business Expense Budget

Now that you have the building blocks, here are some sample business plans that you can use as a framework:

Profitable Venture Event Planning Business Template : This template uses the fictional “Tony & Tammy House of Events LLC" event planning business to show the language you should use and information you should include in your own plan.

B Plans Personal Event Planning Business Plan Template : Similar to Profitable Venture, this template is also a fleshed out example of an event planning business plan. The only difference is they also offer an online plug-and-go template as well as writing guidance for as low as $9.95 a month.

What has been the most difficult step in starting your own event planning business? Are there any lessons you've learned? Let me know in the comment section below!

If you've drafted your business plan but are not sure what the next steps are to take, be sure to check out my guide on starting event planning businesses: The Ultimate Guide on How to Start Your Event Planning Business .

Lastly, if you are looking for new ways to step up your events, the Capterra event management blog has the resources to help you make decisions on new software, technologies, and best practices:

4 Event Mobile Apps to Increase Attendee Engagement

The Top 10 Books Every Event Manager Should Read

5 Online Event Planning Classes to Jumpstart Your Career

Top 5 Free Tools to Live Stream Your Event Online

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About the author.

Nick Morpus

Nick Morpus is a former Capterra analyst.

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Event management & show production agency based in Russia

• Creative concept development
• Art direction & artist management
• PR, social & digital amplification
• Casting management
• Location & venue finding
• Logistics & coordination
• Lighting, special effects, decorations & set design
• Hospitality management
• Videography & photography
• Crew recommendation & booking

• Virtual Classroom

Boost your reach, engagement, qualified leads, and pipeline with the help of AI, to create webinars that attract, engage, educate, and resonate

Make your VOD content accessible anytime, anywhere, with secure, flexible, vastly scalable video hubs

Create, manage, monitor, measure and repurpose with AI all your events in one place, and make each one an affair to remember

Keep employees upskilled, uplifted, and up to date with tools that help improve focus, engagement, and outcomes

Education suite

Media & telecom suite, developer suite.

Propel your marketing programs forward with Kaltura’s AI-infused webinars, events and community hubs

Elevate your corporate narrative with impactful events, interactive workshops, and dedicated video portals, easily managed with the help of AI

Keep customers & partners informed and upskilled with webinars, virtual & hybrid events, and knowledge hubs

Open up a world of content for your employees with always-on training sessions, events and company video portals

Keep students switched on and educators tuned in with LMS video, virtual classrooms and campus events

Wow viewers with top video quality, multi-device support, and endlessly scalable streaming platforms

The results are in! The top 8 internal events and communications trends of 2024

Learn how to implement our proven strategies for engaging digital experiences that shine.

Need help? Have questions? Want to know more? It’s all in here

We partner with the best to give you even more!

Turn your webinars into lead-generating machines!

Check out our on-demand ‘deminar’ and learn how to reimagine your webinar program by turning your content into evergreen, attention-holding demand generators.

W ho we are, what drives us, and our vision for the future of digital engagement

Who took home the gold in Kaltura’s 2024 Digital Engagement Awards?

Get a glimpse inside our Kaltura Connect roadshow event where we presented awards to our forward-thinking customers for their outstanding accomplishments in pushing the boundaries of digital engagement.

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The 2024 Guide to Effective Corporate Event Management

Unlock the secrets to successful corporate event management. from planning to execution, our guide covers everything you need to know to host impactful events..

Corporate events can drive more value than most marketing channels. They provide a meaningful way to engage directly with customers, employees, and other stakeholders to celebrate your brand, educate, reward, motivate, or mark key milestones for your organization.

If you, too, want to capitalize on corporate events without spending thousands of dollars on event planners, Kaltura has outlined this comprehensive guide.

What is corporate event management?

Corporate event management involves overseeing every aspect of a corporate event with keen attention to detail. It ensures unmanageable issues don’t cut you off at the knees before, during, and even after your event.

Selecting the best venue or virtual event platform, finding high-functioning technology, sending invites, arranging accommodations or virtual suites, and narrowing down catering and decorations—there’s a lot to be done to ensure an unforgettable experience for attendees. When planned well, an event will increase brand awareness, influence customer behavior, reward staff, and showcase your products and services in their best light.

It’s a lot of work; that’s why event planners get paid an average of $70,699 per year.

Common types of corporate events

There are many different corporate events, each with a distinct purpose and atmosphere. Common ones include:

Virtual events are an alternative to in-person gatherings. They’re held entirely online, which breaks geographical barriers as anyone can attend wherever they are in the world.

Its unique selling point is there’s no hassle of arranging logistics! Other advantages include the possibility of watching the content on-demand after the live-streamed event or repurposing it and data collection for performance measurement and lead generation.

The key is to choose a platform with built-in accessibility features to create an engaging experience for all the attendees, including those with disabilities.

In-person events are held in a physical location. These events are generally better at creating a sense of urgency, exclusivity, and community, but are generally more costly and difficult to organize. Physical locations come with obvious limitations in scalability, audience reach, and accessibility.

Hybrid events are in-person events with virtual components. They allow participants from all over the world to participate, increasing reach and attendance substantially. Catering and travel costs are still quite low, ensuring a higher return on investment.

How to organize a corporate event, step-by-step

Corporate event planning is no walk in the park; it requires hard work, careful planning, and flawless execution.

Here’s a look into what that entails:

Outline goals 

What are you expecting to accomplish by holding this corporate event? Whether it’s an internal all-hands meeting, an annual shareholder meeting, or a product launch, it’s important to establish S MART goals .

Create a roadmap with specific, actionable objectives that will help you track specific metrics you want to meet, such as sign-ups during an event, level of engagement, or brand awareness. Goal setting is vital to delivering an interactive experience that meets the expectations of your audience without wasting resources.

Define your audience

Corporate events are not one-size-fits-all, attracting different audiences and engagement levels.

For example, shareholder meetings are restricted to higher-ups, retreats involve team members, and product launches center on prospects with the highest potential to convert.

Keep the right audience in mind as you plan and market your event. Make sure you cater event elements to their needs and leave a lasting impression.

Set a clear budget

Unexpected expenses are typical in event planning. Mitigate this issue with thorough preparation.

Aim for financial prudence by allocating funds to broad categories that incur the biggest costs, such as the venue, accommodations, technology, catering, and marketing, to get a clearer picture of your net budget. A common guideline is to set aside 10% to 15% of the budget for a contingency fund for emergencies.

To maximize your budget, consider non-traditional venues for better rates, develop long-term relationships with vendors, and engage volunteers in exchange for networking opportunities—possibilities abound.

A robust event management platform will help you stay on track budget-wise.

Pick the right venue

It is often believed that the venue can make or break their event experience. This illustrates the importance of choosing the right one based on location, capacity, accessibility, safety, and security.

Make sure your city of choice is accessible to most of your attendees.

For virtual events, you just need to choose the best platform and most robust video solutions with all the features you need and that your attendees will have no trouble using.

Develop a network of vendors

Building strong, long-term relationships with event vendors is the cornerstone of holding smoother, successful events.

A typical corporate event usually calls for:

• Caterers/food stalls
• Organized transport
• Photographers/videographers
• Entertainment

You can get references and recommendations from others in your industry, and it’s best to partner with suppliers with experience in similar events. Assess the quality of their offerings and client relationships before signing a partnership agreement.

Build a marketing campaign

Event marketing increases brand awareness, promotes your event to an audience that is passionate about your product, and differentiates you from your competitors.

But it will only be effective if you choose the proper channels. Here are the best platforms to promote corporate events:

• Email campaigns have the potential to clock in an impressive ROI.
• Press releases attract media coverage and lend credibility to your event.
• Social media is used by half of the world’s population .

You can also post about the event on your company’s website and leverage content marketing to increase attendance and engagement.

Design the agenda

Your event agenda is a roadmap that outlines the flow of activities and the time allocated for each. The structured outline tells attendees what to expect and lets them pick the activities and presentations that interest them the most.

Beyond ensuring your event does not run off the rails, it gives a clear overview of the guest speakers in attendance, which can motivate your target audience to attend.

Finalize logistics

To orchestrate a corporate event that leaves a lasting impression, keep these logistics best practices in mind:

• Send registration reminders to keep the event on top of mind for attendees.
• Finalize headcount and refine the menus to accommodate dietary restrictions.
• Review and sign agreements to confirm equipment delivery, venue, and vendors.

Before the event, you should also determine whether you need extra staff on standby.

6 tips for effective corporate event management

Here are some tried-and-true methods for a successful corporate event:

Start planning early

Budget constraints, understaffing, equipment issues—there’s room for error in event planning. The sooner you begin planning, the more time you’ll have to consider the little details and pull off a dynamic event that provides an impressive return.

Starting your corporate event planning six months in advance also minimizes the risk of last-minute scrambles and unpleasant surprises on the big day. If anything goes wrong, you can put your contingency plans in motion.

Schedule invites in advance

Send invitations at least 6 to 8 week s before the event date. It will give people time to clear their schedules and benefit from early booking. Early RSVPs will also provide you with a reliable ballpark head count.

Improve attendee experience

The average time a person can focus has dropped from 150 seconds to around 45 seconds . So instead of wearing them down with a mind-boggling amount of data, limit what you want your attendees to retain from the presentation.

You can breathe life into your in-person event with happy hours, round tables, and luncheons to encourage participation, collaboration, and networking.

This can be challenging in the virtual landscape. You can incorporate online scavenger hunts, live polling, interactive games, and surprise reveals to improve engagement. Schedule breakout sessions to give attendees time to decompress and communicate directly with their peers.

Create a customized checklist

Create a detailed checklist that breaks down the event into manageable tasks and timelines. You can easily track deadlines for specific tasks, plus their budget allocations, which can increase efficiency in event planning.

Don’t be afraid to delegate

Event management is not a one-person show. Don’t pile up too many responsibilities on your plate, as this can be overwhelming. Leave some tasks to your team members instead.

Keep in mind that cross-team collaboration can lead to unnecessary friction, especially because things can change quickly. Ensure team cohesion with project management software; it will facilitate better communication.

Follow-up, follow-up, follow-up

Make the memory of your event linger in attendees’ minds with a follow-up email. If not, you’ll see massive drops in engagement with every passing day.

Taking a moment to express genuine appreciation will make your attendees feel valued, improve connections, and provide an opportunity to gather insights into what worked and what didn’t. Constructive feedback can inform strategic decisions for future events.

Managing in-person vs. virtual corporate events

The two processes are not too different, but the upside is that you don’t have to spend a penny for venues, catering, transportation, accommodation, and overhead costs if you go virtual. It costs a lot less than what you’d spend facilitating face-to-face interactions.

However, because you’re not offering a unique destination to lure participants in, you’ll have to find another way to boost participation. Spark a reaction online with a tailored content strategy that amplifies your visibility and encourages conversation. You can harness its unparalleled value by pairing it with gamification to energize attendees and keep them engaged.

Make the information more memorable with top-tier connectivity, with a focus on high-quality video content to maintain the concentration of attendees.

Frequently Asked Questions (FAQs)

How long does it take to plan a corporate event.

A small-scale corporate event can take about a month to plan and execute flawlessly. However, if you want to cut costs, jumpstart the planning process at least 4 months before the big day.

Is it necessary to hire a corporate event manager?

A corporate event planner has the expertise to manage the intricacies of event planning. They have insights into the latest event trends, reliable connections with vendors, and negotiation skills that deliver the best deals. We suggest hiring one if you’re short on time and hosting an in-person event.

But if you’re going virtual, you can easily do it all yourself!

How do you manage a corporate event with a tight budget?

If you plan in advance, negotiate with vendors, maximize available tech and support staff, offer snacks instead of meals, and compromise on prime locations, you can host a successful corporate event even on a small budget! Or go virtual and save on all these costs.

Meet Kaltura Events – the #1 virtual events platform

Though virtual events are much more cost-effective than in-person corporate events, money is not the only factor. Kaltura Events is an all-in-one, built-for-business virtual event solution that delivers everything you need from a virtual event: branding, engagement, community building, personalization, and lots of in-depth data collection, … all in the form of easily scalable, highly memorable digital experiences for all your audiences, internal and external.

Add to that unique event AI capabilities, integration with your other platforms, automation features, template-based easy setup, event promotion and registration features, automatically generated event landing and registration pages, and quick and dirty repurposing features, and you have yourself a single, powerful solution for the entire lifecycle of your corporate event management!

Learn more!

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Top Event Management Companies in Moscow

Presenting to you the best event management companies in Moscow, GoodFirms has prepared the below list. Our team has thoroughly researched and verified the below-mentioned event planners in Moscow before adding their information to the list, so you can rely on it to speed up your selection process.

Hiring an event management company in Moscow to organize and manage a flawless event is an intelligent decision. It allows you to free yourself from logistics complications and instead helps you focus on other priority issues. Hurry and scroll down to browse through the best event planning companies in the industry.

• Most Reviews

List of The Top Event Planners in Moscow

We share with you our achievements and tell you about major trends in the event industry. Stay updated on all of the latest news. Join our Email List!

Trinity Events

Trinity Events is focused on developing large-scale events (LSEs) aimed at C Level executives and business owners, in economic sectors with the strongest potential for growth. The group runs over 60 business forums and exhibitions ... read more about Trinity Events

GCS Business Group is a team of experts United by the same important goal: transform clients' projects into significant events that will help them to solve many business problems. GCS Business Group is included in ... read more about GCS

EZ Solutions

EZSolutionS offer a wide range of market entry, business development, marketing, PR, local compliance, translation, accounting and legal services to help companies establish and develop their presence in EMEA incl. Russia and the Former Soviet ... read more about EZ Solutions

Having won the trust of our clients, year we successfully host over 500 events every year. These include meetings & presentations, conferences & forums incentive trips, special events as well as road shows. At RUSMICE, ... read more about Rusmice

We organize exhibitions and conferences, ceremonies and business missions, festivals and fairs. We take care of every detail, from venue search and stage design with construction management, to speakers search and content production, no matter ... read more about Formika

villagioevent

Our company carefully analyzes the existing market, so the cost of services is truly affordable for everyone.Be sure that you will be completely satisfied with cooperation with our company!.Our company will be able to competently ... read more about villagioevent

Event Management Technologies

Event Management Technologies (EMT) is a company specializing in the technical support of any event. Our company will celebrate its 15th anniversary in 2020.Renting equipment for events includes getting advice from professional specialists, selecting high-quality equipment, implementing ... read more about Event Management Technologies

Eventful Agency

WE masterfully build communication between brands and their target audiences in any arrangement .Our vocation is to create events. Events that inspire that are talked about, that are in a hurry to see .  

Bright Company

WE do a full range of events: exhibitions and flagship store openings, presentations and press conferences, business, image, corporate and PR-EVENTS , musical shows of Russian and world stars, city holidays, New Year's fairs - we can hold ... read more about Bright Company

Fanatics Event Agency

Event-Fan ist ein Leidenschaftlicher Event-Pokemon Sammler. Sein Ziel ist es alle bisherigen Weltweiten Event-Pokemon zu ergattern. Hilf ihm dabei!

Brothers Production

We have engaged in technical production of events since 2013. Effective in technical solutions and project administration, due to what we have a reputation as a reliable partner. Our team consists of professionals with diversified ... read more about Brothers Production

myTHE is a tool for accounting, analysis and financial planning The service helps to properly manage the company's money and track all expenses and credits

Can’t find the right partner for your project?

Get a list of best-fit companies handpicked by our experts that match your requirements.

Destination management company in Russia

Destination management in Russia is one of the main focus areas of our agency.

For the years we are successfully carrying of corporate groups in Russia as professional incoming agency in Moscow. The Proekta’s staff is experienced specialists with excellent knowledge of all local features of Russia. The most popular destinations that corporate groups visit are Moscow, St. Petersburg, Kamchatka, and Sochi. We develop unique programs and concepts for each corporate tour to create a memorable experience.

Destination management company in Moscow is needed to ensure running event and logistics at the highest professional level. The knowledge of city’s dynamics, original places and non-tourist sights is the main difference of a professional incoming agency from a mass tour operator.

Destination management in Moscow is quite a young industry, but it has great potential. Here in Russia you can always find what to research and make discoveries every day. Russia is a vast country, not like all the others. Here you can experience different climatic conditions for a few hours, get familiar with different cultures and history of our civilization. There’re infinitely many nuances in such a large country as Russia, and dmc in Moscow and Saint Petersburg should take them into account. That’s why we develop each service for our clients on an individual basis.

Direct and long-term contracts with hotels, transport companies and many other service providers allow us to follow flexible pricing policy. For dmc Moscow is city with endless cultural and historical potential, you can discover it hundred times and find every time something new.

We have taken all the best and most interesting in Russia for our customers. We’re excited to use difficult and out-of-the-box solutions since we know nothing is impossible and want you to remember Russia with love. 

Snowed car installations in Moscow, Prague and Frankfurt

Mobile installation of Elbphilharmonie in Hermitage

Launch event of new Dongfeng A9 at MIAS 2016 press day

Building of the exhibition stand and exhibition management at MIAS 2016

Interviewers for Wacker booth at MosBuild 2016

Incentive event for Nissan dealers

Corporate conference in Dearborn, Michigan

Stand opening ceremony at Comtrans exhibition and press conference

Presentation of new models at Moscow International Automobile Salon

Stand buildup for Golden Dragon Company on Comtrans exhibition

Conference for Nissan dealers in Barcelona

Moscow, Butyrskaya Street 62

+7 (499) 653-65-25 (Mon-Fri 10:00-18:00)

[email protected]

facebook.com/proekta

Saint Petersburg, St. Lva Tolstogo 1-3

[email protected]

Rostov-on-Don, St. Koroleva 5b

+7 (863) 333-21-96 (Mon-Fri 10:00-18:00)

[email protected]

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• Best Debt Settlement and Debt Management Services

National Debt Relief

Creditassociates debt relief, accredited debt relief, american consumer credit counseling, introduction to debt management.

• Why You Should Trust Us

Best Debt Settlement and Debt Management Companies: A Comprehensive Guide

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate products and services to help you make smart decisions with your money.

To evaluate debt settlement and debt management services, there are several essential factors to consider.

First, FTC regulations prohibit debt relief companies from collecting fees from a client until they have settled, reduced, or altered the terms of at least one of that client's debts. Companies that charge an up-front fee should be disregarded.

Think about the amount of debt you are carrying and the best way to eliminate it. Compare the benefits and features of the programs you are considering and factor in your personal financial goals. Do you want to get rid of the debt sooner rather than later or do you have time and money to spread the payments out? 

Read on to learn more about the best debt settlement and debt management services.

Best Debt Settlement and Debt Management Services 2024

• National Debt Relief : Most types of debts settled
• CreditAssociates : Money-back guarantee
• Accredited Debt Relief : Best reviewed
• ACCC : Best credit counseling 
• Americor Debt Relief : Best for smaller debts

Compare the top debt settlement and debt management services programs

The best debt settlement and debt management services offer free consultations, financial literacy resources, and very low fees to receive help. 

Here are the best debt settlement and debt management services as picked by Business Insider editors in 2024. 

Cost: 15-25% of total enrolled debt

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Includes private student loans
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Accredited with the AFCC
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Fee transparency
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. $7,500 minimum debt requirement
• con icon Two crossed lines that form an 'X'. Customer service conducted exclusively over the phone
• con icon Two crossed lines that form an 'X'. Lack of legal or tax guidance

National Debt Relief boasts an average savings of 25% (after fees) for clients who complete a settlement program, and has extensive positive reviews online. However, the debt settlement process has several potential pitfalls, and there may be other solutions better suited to your needs.

Operating since 2009, National Debt Relief claims to have helped more than 400,000 people get out of debt. National works with most kinds of unsecured debt, including credit cards, medical bills, personal loans, and private student loan debt. There is no advertised minimum debt required to apply for National's debt relief programs, though most clients have debt in excess of $10,000.

National offers free consultation with no upfront fees, as no payment is collected until you approve a settlement and make at least one payment on a debt. There's also no fee for backing out so long as you do so before your debt is settled. Once National negotiates a settlement, the fee averages 15-25% of the total enrolled debt (not the settled amount). Completing the settlement program takes 24-48 months on average.

National Debt Relief is accredited by the American Fair Credit Council (AFCC) and has an A+ rating from the Better Business Bureau. National also has a Trustpilot rating of 4.7 stars out of five, with 95% of over 38,000 reviewers giving the company four or five stars. Common complaints among negative reviews include a lengthy settlement process, unexpectedly high fees, and a lack of clarity about the legal and tax implications of debt settlement.

One apparent negative of National Debt Relief is that customer support is only available by phone, with no email or chat option. While business hours for new customers include weekends and extend to midnight on weekdays, support for current clients is only available Monday to Friday from 10 a.m. to 8 p.m. EST.

You can find our National Debt Relief review here.

Cost: Estimated 25% of debt (fees not publicly available)

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Charged for the amount settled rather than amount enrolled
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Debt relief blog
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Money-back guarantee advertised
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. AFCC and IAPDA accredited
• con icon Two crossed lines that form an 'X'. Fees not publicly available

CreditAssociates has been in operation since 2015. The company helps clients settle a variety of unsecured debts, but emphasizes solutions for those dealing with credit card debt, medical bills, and business debt. There is no advertised minimum debt required to enroll in CreditAssociates' debt relief programs.

CreditAssociates offers a free consultation with its team of debt settlement experts, and charges a fee only when the company is involved in a settlement. CreditAssociates also markets a "money-back guarantee," but does not offer further details about that guarantee prior to enrollment. The company cites an average timeline of 36 months to complete a debt settlement program. 

CreditAssociates has accreditation from both the AFCC and the International Association of Professional Debt Arbitrators (IAPDA). The company also has an A+ rating from the Better Business Bureau, though it has a high incidence of complaints relative to the number of reviews. Trustpilot reflects a more positive view of CreditAssociates, with a rating of 4.9 stars out of five and 98% of over 14,000 reviewers giving the company four or five stars. Common complaints among negative reviews include poor communication and the use of high-pressure sales tactics.

One standout feature of the CreditAssociates website is its debt relief blog , which offers a treasure trove of articles on topics like credit, bankruptcy , budgeting, and more. These articles are available whether or not you enlist their services.

On the downside, while anecdotal evidence places the cost of using CreditAssociates in line with other debt settlement services, the company's website conspicuously fails to disclose the range of potential fees. It's website mentions that the average customer saves 55% on their debt without fees and 30% with its fees included. CreditAssociates is not available in Colorado, Connecticut, Minnesota, Maryland, Vermont, and Wyoming.

Read our CreditAssociates review here.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Online knowledge hub and blog
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Accredited with AFCC and CDRI
• con icon Two crossed lines that form an 'X'. Only available in 30 states

Accredited Debt Relief is a DBA of debt consolidator Beyond Finance. The company has been in operation since 2011, claiming to have served more than 200,000 clients and paid off more than $1 billion of client debt. Accredited Debt Relief works exclusively with unsecured debt such as credit cards, medical bills, and payday loans , offering both debt settlement services and debt consolidation through its affiliates. There is no published minimum debt required to enroll, but client reviews indicate the company only handles debts totaling over $10,000.

Accredited Debt Relief offers free consultations and savings estimates with no upfront fees and no obligation to enroll. The company boasts that clients who make all monthly deposits reduce their enrolled debt by approximately 45%, with fees averaging 15-25% of the total amount. Some clients are able to pay off debts in as little as 12 months, but the typical timeline ranges up to 48 months.

Accredited Debt Relief is accredited by both the AFCC and the Consumer Debt Relief Initiative (CDRI). The company has an A+ rating from the Better Business Bureau with a very low incidence of complaints relative to the number of reviews. Trustpilot rates Accredited Debt Relief at 4.9 stars out of five, with 98% of over 5,600 reviewers giving the company four or five stars. Common complaints among negative reviews include dissatisfaction with the enrollment process and misrepresentation of how fees are assessed.

Accredited Debt Relief has an online knowledge hub with extensive information about topics related to debt, as well as a blog that covers personal finance more broadly. Customer service offers is accessible by phone for no less than 14 hours daily, seven days a week, as well as by email. One negative about Accredited Debt Relief is that it only operates in 30 states plus Washington, D.C. Clients outside of the covered states are ineligible to enroll.

You can find our full Accredited Debt Relief review here. 

A debt management plan (DMP) is a type of repayment plan that's set up and managed by a non-profit credit counseling agency like ACCC. As part of ACCC's DMP, creditors may waive late and overlimit fees, lower interest rates, reduce monthly payments and bring passed due accounts current (also known as re-aging).

Cost: $39 one-time fee and $7 monthly maintenance fee per account

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free preliminary counseling session
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Monthly fee capped at $70
• con icon Two crossed lines that form an 'X'. Takes four to five years to complete

American Consumer Credit Counseling is a non-profit credit counseling agency that offers advice on various financial topics such as budgeting, student loans, and bankruptcy. The main service it offers is a debt management plan, usually over three to five years, that costs a $39 setup fee and a $7 monthly fee per account, capped at $70. With an affordable fee structure and positive reviews, ACCC is one of the best credit counseling services.

• ACCC can offer you Debt Management Counseling to help you:
• Reduce your interest rates and monthly payments by 30-50%
• Consolidate credit card bills into one simple monthly payment
• Bring an end to harassing calls from debt collectors
• 100% free consultation with a certified debt specialist
• Become Debt-Free (3 - 5 years in most cases)

American Consumer Credit Counseling is a non-profit agency offering debt relief, credit counseling , and financial education services. Operating since 1991, the agency specializes in debt management programs to help clients with unsecured debts such as credit cards and store cards, medical bills, signature loans, and collection accounts . There is no published minimum debt required to enroll.

American Consumer Credit Counseling provides a preliminary counseling session at no charge, during which a professional certified counselor helps review your finances, discuss options for debt relief and develop a budget and action plan. Those who enroll in a debt management program pay a one-time fee of $39 and monthly maintenance fee of $7 per account, which is capped at $70. Both enrollment and maintenance fees may be waived based on state regulations or for those in financial hardship.

The agency's debt management program works with creditors to lower interest rates, eliminate late and over-limit fees, and re-age delinquent accounts to make them current. The program is designed to take approximately four to five years to complete, but the timeline depends on the amount of debt, the creditors, and the client's ability to pay.

American Consumer Credit Counseling is a member of the National Foundation for Credit Counseling, and is accredited by the Council on Accreditation. The agency has an A+ rating from the Better Business Bureau with a nearly negligible incidence of complaints relative to the number of reviews. There are no reviews on Trustpilot, but its brick and mortar locations have over 10,000 combined Google reviews, of which only 37 gave less than four stars.

Unlike the debt settlement programs listed above, American Consumer Credit Counseling offers services in all 50 states. The agency also has 21 offices in 13 states and Washington, D.C. In addition to providing a toll-free number and general email address, the agency's contact page commendably lists phone extensions, email addresses, and hours of operation for each of its departments.

You can find our American Consumer Credit Counseling review here. 

Americor Debt Relief

Fast debt relief in 5 simple steps. Eligibility starts for those with $7,500 in unsecured debt, one of the lowest entry points in the industry.

14% - 29% of enrolled debt

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Accepts debts starting at $7,500
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Pay only if Americor is able to settle your debts
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Withdraw from the program anytime without penalty
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Americor uses a soft credit inquiry to find offers
• con icon Two crossed lines that form an 'X'. Not available in Colorado
• con icon Two crossed lines that form an 'X'. Fees are based on enrolled amount, not negotiated amount

Americor is a debt relief company that specializes in negotiating settlements for large amounts of unsecured debt, like credit card bills and personal loans. To qualify, you need at least $7,500 in debt, and you'll need to save 25% of that amount before negotiations begin. It also offers debt consolidation loans as a separate service. Americor's fees range from 14% to 29% of the enrolled debt and are only charged if they successfully reduce your total debt. It's rated highly by both the BBB and Trustpilot, with 90% of reviews on the latter giving them 5 stars.

• America’s leading provider for debt relief solutions
• Be debt-free in 24 to 48 months
• Get a lower monthly payment
• Checking rates won’t impact credit score
• No upfront fees and no obligation

Cost: 14% - 29% of enrolled debt

Americor helps consumers with negotiating large unsecured debt settlements. This means the company can help you with your credit card bills or personal loans but doesn't work with an auto loan or mortgage. You need to have at least $7,500 in unsecured debt to work with Americor's debt relief, which is the same, if not lower, than many of its competitors.

Americor clients must save 25% of the debt owed in an escrow account before the company will start negotiating with their creditors.

Once a settlement is successfully negotiated, the funds you've saved in the escrow account will be used to pay off your creditors. With this company, the fee is not typically collected until after a settlement has been reached and you've approved the settlement terms. Under Americor's terms and conditions, the client won't pay a fee unless the company has managed to lower the client's total enrolled debt, which means that you do not pay a fee if they cannot settle your debts. 

Americor's fees range from 14% to 29% of the total debt enrolled in its debt settlement program. For example, if your enrolled debt is $15,000, that would mean your fees could range from $2,100 to $4,350. These fees are added to the amount saved in the escrow account while Americor negotiates your debts.

One standout feature is that Americor also offers the option of a debt consolidation loan, which is separate from its debt settlement program. Loan terms are available for up to 60 months, with APRs ranging from 5.99% to 29.99% and a loan origination fee of 6.99%.

Americor has an A+ rating with the Better Business Bureau and Trustpilot gives Americor 4.8 stars out of 5. Ninety percent of the over 15,000 Trustpilot reviews give the company 5 stars. 

Americor is not available in Colorado. 

The importance of managing debt effectively

Properly managing debt can help you build wealth and reach your financial goals, such as buying a home or obtaining a business loan to launch a new business venture.

However, too much debt or " bad debt " can put your credit score in harm's way, hampering your ability to borrow in the future.

Digging yourself out of excessive or delinquent debt is challenging, but if you're struggling to pay what you owe, external help is available.

Debt management programs

With a debt management program, a credit counselor negotiates with your creditors for you to create new payment plans.

Your creditors may waive fees and lower the interest rate on your accounts if you agree to repay the debt through a debt management program. 

Debt management programs are offered by credit counseling agencies to help individuals consolidate their debt and pay it off by negotiating with their creditors to establish payment plans and lower interest rates. 

Debt management programs focus on paying off the full amount of debt over time, using a payment plan with reduced interest rates and waived fees. Debt settlement programs negotiate with creditors to settle the debt for less than the full amount, which can negatively impact your credit score. 

Yes, most debt management programs will charge a monthly fee for managing your debt plan and handling the payments. However, it's illegal for a debt settlement company to charge up-front fees. It's important to compare fees and services offered by different programs to ensure they are compatible with your financial situation and goals. 

Yes, a debt management program can affect your credit score. There may be a dip in your credit score at the beginning of your debt management plan, but as your debt decreases, your score will typically rise. If you close accounts as part of the program that may temporarily lower your score due to changes in credit utilization and account age. Also, working with a debt management program may be noted on your credit report . 

Yes, you can file bankruptcy, but you will have to go to court with your creditors, and bankruptcy will remain on your credit report for 10 years, making it difficult to obtain credit in the future. If you can, working out a settlement with your creditors is better.

How Do Debt Management and Settlement Services Work?

Debt management and debt settlement services have similar aims, but distinct approaches to achieving them. Debt management services negotiate with creditors to reduce monthly payments by waiving fees, lowering interest rates, and extending repayment periods. These measures do not reduce the amount of your debt, but make it easier to pay down. Debt management services tend to be inexpensive or free, and impact your credit minimally so long as you make payments according to plan.

Debt settlement services also seek to reduce monthly payments, but they do so by negotiating with creditors to reduce the amount owed rather than alter the terms of repayment. Debt settlement services generally charge a percentage of the total debt, and because debt settlement requires you to stop making payments during negotiation, the process damages your credit significantly. As a result, debt settlement is a better fit for those under severe financial duress who are seeking an alternative to bankruptcy . Note that debt forgiven in a settlement may be considered taxable income unless you get an exemption for economic hardship.

Some companies offer both debt settlement and management, but both services differ from debt consolidation , which simplifies repayment and by combining multiple debts into one at a lower interest rate.

Should You Pay for Assistance With Debt Settlement and Management?

Debt settlement and management services can help those struggling with debt, but they aren't the only options. Before enrolling in one of these services, there are several alternatives to consider.

First, check your area for credit counseling agencies or other non-profit resources that offer debt consultations with no fee. They can advise you about debt relief solutions and help you figure out which ones best suit your needs. Talking with them first won't take any other options off the table.

Second, you may be able to negotiate a debt settlement with your creditors directly to reduce or otherwise change the terms of your debt. Cutting out the middle man can save whatever fees you would have paid, but without the expertise of a settlement or management service to guide you, the responsibility will be on your shoulders. That decision may be worthwhile, but it shouldn't be made lightly.

Finally, debt consolidation may be preferable to debt settlement or management depending on the nature and amount of what you owe. If you're still current on your debts and able to continue making payments, consolidating loans can help you simplify payments and lower interest rates without adding fees.

Methodology: How We Chose the Best Debt Settlement and Management Services

The debt relief industry has several trade associations and organizations that offer accreditation for debt and credit-related services. Examples include the American Fair Credit Council, the International Association of Professional Debt Arbitrators, the Consumer Debt Relief Initiative, and the National Foundation for Credit Counseling. Reputable debt relief and debt management services don't need accreditation from all of these groups, but should be accredited by at least one. Services that did not meet that requirement were left out of this analysis.

With those two parameters established, we rated services according to their fee structures (including the range of potential fees and how clearly they are disclosed in advance), the number of years in operation, money-back guarantees in cancellation policies, and customer satisfaction based on personal reviews. 

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Responsibility Over Freedom: How Netflix’s Culture Has Changed

The company’s latest internal memo about its corporate culture is more about how it expects employees to behave than what it wants to become.

By Nicole Sperling

Reporting from Los Angeles

Netflix has long been a company known for its secrets: no Nielsen ratings, little feedback on why shows are canceled, no box office numbers for the rare movies that are actually released in theaters.

Yet for a place defined by its opaque approach to the outside world, the streaming giant has long been aggressively transparent internally. The company’s philosophy was immortalized in 2009 when Reed Hastings, the company’s co-founder and chief executive, first laid out the corporate ethos in a 125-slide presentation that introduced new buzzy phrases like “stunning colleagues,” “the keeper test” and “honesty always.”

The presentation, with its insistence on constant and unfiltered candor, felt both brutal and refreshingly antithetical to Hollywood’s normal way of doing business. To the frustration of former employees and current competitors, it may just be the blueprint that has enabled Netflix to have so much success while its rivals have stumbled.

Three more culture memos have followed over the years. Before being released, they are pored over and analyzed for months by top executives. At the same time, any employee can pop into the Google Doc where the memo is being assembled to leave a thought or a comment.

The latest iteration of the document, which was released internally on May 8 and will soon be made public, underwent eight months of vetting and received 1,500 comments from employees, according to Sergio Ezama, Netflix’s chief talent officer. It is five pages long (half the length of Mr. Hastings’s final memo in 2022), and some core tenets have changed, however slightly.

When Mr. Hastings titled his 2009 presentation “Netflix Culture,” he gave it the subhead “Freedom and Responsibility.” The idea was that Netflix trusted its employees to act in the best interest of the company. If you want a vacation, take a vacation. If you have a baby and need to go on leave, go on leave. Documents were shared widely throughout the company without any fear of leaks.

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• Financial Advisor

Financial Planning Basics

Updated: Jun 26, 2024, 4:51pm

No matter the size or scope of your financial goals, a financial plan can help make them a reality.

Financial planning is the process of looking at the current state of your finances and making a step-by-step plan to get it where you want it to be. That may mean devising a plan to become debt-free or figuring out how to save enough money for a down payment on a new home.

This process can include many aspects of personal finance, including investing, debt repayment, building savings, planning for retirement and even purchasing insurance.

Anyone can engage in financial planning—it’s not just for the wealthy. You can get started on making financial goals on your own, and if you choose, you can work with a financial professional to help devise the smartest plan to make those goals a reality.

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5 Steps to Create a Financial Plan

A financial plan is devised of smaller goals or tasks that will help support you along your financial journey. Create a financial plan with these five steps:

1. Identify Your Financial Goals

By identifying your financial goals, you’ll have a clear idea of what you need to accomplish to make them happen. Your goals should be realistic and actionable and include a timeline of when you want to accomplish them.

Making a goal to pay off credit card debt by a certain date, for example, would be an appropriate financial goal that will set you up for success.

2. Set a Budget

Having a clear picture of your finances will make it easier to achieve any financial goals. A budget can help you understand where your money is going each month. It can also help you identify where you may be overspending, giving you opportunities to cut back and allocate that money elsewhere.

One of the easiest budgets to start with is the 50/30/20 budget . This budget plan allocates your monthly income into three buckets: mandatory expenses (50%), savings and debt repayment (20%) and discretionary spending (30%). This is just one of many types of budgeting plans out there.

A budget should be a guide to help you understand your monthly finances and devise smaller goals that will bring you closer to your long-term financial goals. You likely won’t always follow your budget down to every single penny; keeping this in mind will help you stay on track, rather than get discouraged and give up on budgeting altogether.

There are apps out there that make budgeting much easier by helping you visualize your spending and savings choices each month. Some budgeting apps even give you the option to enter your financial goals directly into their platform to help you stay on track. A fully featured budgeting app allows you to track spending, manage recurring bill payments, set savings goals and manage your monthly cash flow.

3. Build an Emergency Fund

Building an emergency fund will help make sure that a financial emergency doesn’t become a catastrophic financial event.

Experts usually recommend having six months’ worth of living expenses saved to cushion you, should the unfortunate unexpected happen, such as losing a job. But six months’ worth of money can be unattainable for those who may be struggling financially, or those living in tight financial means each month.

You can start building an emergency fund by setting a few dollars aside each paycheck. You can start with a small fund goal of $100 to $200 to establish your fund. From there, you can create other smaller goals that will add up to a larger financial cushion. Some budgeting and savings apps also give you the option of rounding up to the nearest dollar in transactions and funnel that spare change toward your savings.

4. Reduce Your Debt

Having to make debt payments each month means you’ll have less money to allocate toward your purchase goals. Plus, carrying credit card debt can be expensive; every month, you’re accruing interest on your balance, which can make it take longer to pay off.

There are a variety of debt payoff methods out there. Two of the most popular include the debt snowball and debt avalanche methods . With the snowball method, you’ll pay off your smallest balance debts first, then make your way to the ones with the higher balances. The debt avalanche, on the other hand, starts with higher interest rate debts first.

5. Invest for the Future

Although risky, investing can help grow your money, even if you’re not wealthy. You can get started with investing by enrolling in your company’s 401(k) plan or opening a low-or-no fee account through an online broker .

Keep in mind that investing always involves some risk; you could end up losing the money you invest. There are also robo-advisors that automatically recommend investments based on your goals and risk tolerance.

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Bottom Line

A financial plan is composed of a series of smaller goals that will help you achieve a larger financial goal, such as purchasing a home or retiring comfortably. A solid financial plan includes identifying your goals, creating a budget, building an emergency fund, paying off high interest debt and investing.

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Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top performer in the mortgage industry and his entrepreneurial success to simplify complex financial topics. Jordan aims to make mortgages and loans understandable.

Hospitality, Tourism and Event Management (B.S.)

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The mission of the hospitality, tourism and event management program is to develop visionary leaders and successful professionals in the hospitality, tourism and event industry. The program provides a comprehensive and challenging curriculum that includes courses in general education, business, hospitality, tourism and event management, combined with relevant operational and management experience under the supervision and guidance of industry professionals and program faculty.

At the conclusion of the program, students will be able to:

• Identify and apply the knowledge and skills necessary for hospitality and tourism operations.
• Develop and integrate a core set of business skills necessary to successfully operate a hospitality and tourism organization.
• Demonstrate competence in the communication skills necessary for hospitality and tourism management.
• Formulate business decisions in hospitality and tourism management.
• Evaluate leadership principles necessary in the diverse and global hospitality and tourism industry.

With a Bachelor of Science in hospitality, tourism and event management from South Dakota State University, the hospitality, tourism and event industry is yours to conquer. We are dedicated to making the hospitality, tourism and event management program at SDSU one of the leading professional management-related programs in the Midwest.

Since Winter of 2016, the hospitality, tourism and event management program has held professional accreditation from the Accreditation Commission for Programs in Hospitality Administration (ACPHA) for its educational quality and for upholding nationally recognized standards in the hospitality profession.

The hospitality, tourism and event management program had a 50% retention rate for the 2020-2021 academic year, and 75% of our students were employed in the hospitality industry or a related field upon graduation and 25% of our students were continuing their education. In the academic years of 2019-2020, 2018-2019 and 2017-18, retention rates were 100%, 71.4% and 57.1% respectively. While the hospitality industry continued to have jobs available in the hospitality field for any student searching, students in hospitality, tourism and event management learn numerous transferrable skills and are sought-after for, and excel in, positions in a wide variety of industries. Given that, 94.12% and 88% of our students were employed in the hospitality industry or related field in 2019-2020 and 2018-2019 respectively. In 2017-18, 13.33% of our students were continuing their education and 66.67% were employed in the hospitality industry or a related field.

Program Overview

This specialized business degree prepares you for leadership roles in the dynamic, service-oriented hospitality industry. Traditional business courses in accounting, economics and law are complemented by hospitality marketing, meeting/event management, lodging management, hospitality facilities management, food and beverage management and international tourism. All of these courses help to give you a solid foundation required for any number of hospitality specialties.

Some of the many areas you can focus your career within hospitality management:

• Bar and beverage management
• Casino management
• Club management
• Cruise management
• Event management
• Hotel management
• Resort management
• Restaurant management
• Tourism management
• Venue management
• Sport coordinator
• Healthcare hospitality

We stress experiential learning in our program. If you plan to successfully lead, manage or direct others in the industry you must have industry experience. Our goal is for each of our graduates to be qualified for an intro-level management job (or management training position) upon graduation. As former managers in the hospitality industry we realize that gaining industry experience is an important part of our degree requirement.

All undergraduates must complete two internships, accumulating more than 500 hours of work experience in two distinct areas of hospitality. These two experiences provide a great opportunity to explore different and unique facets of the industry, and to expand your knowledge and discover your ideal career path. Whether on campus or off campus, part time or full time, job or internship, you can choose the work experience that best suits your schedule and interests.

With this degree in hand, you'll have a wealth of career options both in South Dakota and throughout the United States and will be well-prepared for post-graduate studies if you choose to continue your education. Additionally, our faculty brings significant industry experience to the classroom, adding a unique dimension that you just won't find with a general business education.

Special Events

Throughout the fall/spring, students participate in learning experiences with the hospitality club and in their courses. Some of the upcoming experiences that students will be participating in:

• Hospitality Management Career Fair
• South Dakota Governor’s Conference on Tourism
• Prostart Competition

Additional Information

• Program Details (Curricular Offerings and Course Descriptions)
• Wagner Cafe
• Hospitality Management Club

Meet the Faculty and Staff

Kunsoon Park

Associate Professor

School of Health and Human Sciences

Julie Tkach

Lecturer, Hospitality Management

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• Go to usbank.com

News details

Tim welsh to leave u.s. bank; arijit roy promoted to expanded role.

Succession plan allows for smooth transition and continued focus on consumer and business banking clients

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bancorp (NYSE: USB), parent company of U.S. Bank, announced today that Tim Welsh, vice chair of Consumer and Business Banking, intends to leave the organization after seven years to focus on his many community activities and additional career interests.

“During the course of nearly 30 years in financial services, consumer experience, and global learning and development, Tim has been a trusted colleague and purpose-driven leader,” said Andy Cecere, U.S. Bancorp chairman and CEO. “He has been an advocate for our customers, a keen contributor to the communities where we live and work, and a consummate professional who helped move us forward. We will miss his contributions and heart.”

Welsh will remain in his role through July to help the company enact its succession plan and then support executive leadership in an advisory position through early October.

Arijit Roy will assume an expanded role leading the U.S. Bank Consumer and Business Banking products organization, reporting to Gunjan Kedia, U.S. Bancorp president. Also reporting to Kedia will be Sekou Kaalund, head of Branch Banking, and Tom Wind, head of Consumer Lending.

“Arijit is a tremendous leader who joined U.S. Bank in 2022, bringing with him a wealth of experience in integrating product, channel and strategy in financial services,” Kedia said. “He quickly acclimated to the U.S. Bank culture and has a vast understanding of our clients, products and services, partnerships and unique offering that will help us accelerate growth. I appreciate how he has embraced his new opportunities and look forward to seeing him succeed in his expanded capacity.”

Before coming to U.S. Bank, Roy, 47, worked in important leadership positions at Truist, Discover Financial Services and McKinsey and Company. He holds master’s degrees from Harvard Business School and Virginia Tech, and a bachelor’s degree from Manipal Institute of Technology.

“Along with Arijit, Sekou and Tom offer insight and expertise that are vital components of our organizational success, and they will be key contributors in our ongoing efforts to provide quality, consistency and an unparalleled experience to our clients in the branches and mortgage space,” Kedia added. “These three leaders have been steady, strategic partners to the organization during their tenures with the company and are well equipped to lead the Consumer and Business Banking organization effectively into the future in alignment and close collaboration with our other revenue lines and enabling functions.”

About U.S. Bank

U.S. Bancorp, with more than 70,000 employees and $684 billion in assets as of March 31, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2024 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

Investors: George Andersen, director of investor relations, U.S. Bancorp Investor Relations 612.303.3620;  [email protected]

Media: Jeff Shelman, senior vice president and head of external enterprise communications, U.S. Bank Public Affairs and Communications 612.422.1423;  [email protected]