How To Start Your Own Event Planning Business Here s how to make the leap into starting your own event planning business 1 Establish your event planning business There s no requirement for a certification or license to become an event planner in the US However it s still a good idea to establish a legal structure for your event management company and you ll likely need other
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 3 Prepare an Event Planning Business Plan Once you know your niche it s time to put together your business plan which is an essential step of any business A well structured event planning business plan will help you build a roadmap for your business by setting out where you want your business to go and how you intend to go there
How To Start Your Own Event Planning Business
How To Start Your Own Event Planning Business
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Also Check out 3 Tips for Registering your Event Planning Business 6 Open a Business Bank Account While it is possible to operate your event planning business using your personal bank account it s not advisable It s much easier to track your business revenue and expenses separately by using a dedicated business bank account Be Your Own Boss Launching your own event planning business means you re in charge Set your schedule choose your clients and specialize in events that excite you be it corporate meetings milestone birthday parties or outdoor events As your business grows you ll have the freedom to shape your career on your terms And there s no
Here are steps you can follow to successfully start your own event planning business 1 Gain relevant experience Spending time working in the event planning industry either on a paid or unpaid basis is a valuable prerequisite for starting your own event planning business You can use this time to learn about industry trends and prices 3 Costs to Start an Event Planning Business Launching an event planning business requires careful financial planning and cost analysis even before taking the first client Between startup expenses and ongoing overhead new entrepreneurs must budget adequately to turn a profit and fuel growth Here is an overview of common costs to expect
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With all the change in the air enterprising event entrepreneurs build social connections no matter the distance So read on to avoid being amongst the 50 of all small businesses that fail in the first 5 years and more importantly to give your new event planning venture the right start 1 Evaluate your event planning skillset The event industry is bursting with glitz and glam but there are some downsides to starting your own event planning business Pros Flexibility You are the master of your own fate when you start your own event planning business Who you work with where you work and when you work are all up to you
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