Event Planner Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Event Planner Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start an Event Planner business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
Regardless of how the economy is doing, people are always going to host events. This is especially true among people that are getting married or are having a major life anniversary. As such, event planners are generally able to conduct profitable operation in most economic climates. During times of recession, most event planners are able to work with smaller budgets as well as a number of different entities in order to make sure that underlying financial obligations are met on a month-to-month basis. Many studies have shown that the cost of weddings have has increased substantially over the past 20 years, and given the complexity of these events most people turn the hiring and event planner to assist them with making sure that everything goes as smoothly as possible. The barriers to entry for new event planner are considered to be very low as anyone can hold themselves out in this capacity without any type of specific licensure. However, the most experienced event planners usually start out small and develop a large portfolio showcasing the events that have hosted in the past in order to continue to build their business.
As with any business, and event planner business plan should be developed. A business plan will consist of a financial model, market research, and an overview of the services provided. The most important section to this event planner business plan is the financial model. A three year financial statement including a cash flow analysis, profit and loss statement, balance sheet, breakeven analysis, and business ratios page should be included. Banks and financial institutions typically do not provide large amounts of capital to event planning businesses unless they are highly established. As such, if you are looking to raise capital for an event planning business in the best way to go about it would be to obtain a working capital line of credit that will assist in covering the underlying costs while you build the business. This is the most frequent way that new event planning businesses are launched.
Beyond the business plan, it is extremely important to have a very well developed event planner marketing plan. This is due to the fact that this is a highly competitive industry with low barriers to entry. As such, one of the most important features of developing a new event planning business is to have a massive online campaign that showcases any previous work relating to the event planning industry. If possible, it is important to have pictures of previously completed events online so that potential customers and clients can see your portfolio of work. Additionally, most event planners work closely with caterers as well as related banquet hall businesses in order to render services. Prior to launching operations, an entrepreneur that is developing and event planning business should seek to develop ongoing relationships with these entities in order to ensure that revenues are generated from the onset of operations.
Another thing to note is that most entrepreneurs will conduct a SWOT analysis in order to determine whether or not there event planning business will become profitable. For strengths, the more revenues generated by an event planning business are considered to be high-margin revenue. Additionally, the startup costs are low which are both a benefit and as well as a drawback to this type of organization. Weaknesses primarily consists of an extremely high amount of competition within any market. For many event planners, this is a home-based business and as such it is difficult to compete on price with smaller providers. Relating to opportunities, once an event planning company establishes a brand name they may hire associate planners that will allow the company to host and manage many events at one time. Additionally, there exists the opportunity to acquire existing event planning businesses that are already operation and can be purchased by the owner. At this time there are no known threats beyond changes in the economy that would impact the way that these companies conduct business.