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How to get started an event planning business

by Tixtree on Fri, 18 Aug 2023 in Event planning

In a world where millions of events ignite excitement every year, the events industry holds a treasure trove of possibilities for aspiring entrepreneurs. Whether your passion lies in orchestrating conferences, festivals, corporate gatherings, or sports competitions, we're here to equip you with a comprehensive roadmap for embarking on your event planning journey. From understanding the industry to defining your niche and marketing your business, we'll unveil each step along the way. So, fasten your seatbelt and let's dive into the realm of event planning prowess!

Step 1 - Understand the industry

We have good and bad news. The bad news is that organising events isn't all about glitz and glamour. To be successful, you will need to get your hands dirty; it will require strong determination and good problem-solving skills. The good news is that even if you haven't studied event management, you can acquire the skills and knowledge necessary to work in the industry. That's how:

  1. Seek internships or entry-level positions: for newcomers to the industry, gaining practical experience is highly recommended. Look for opportunities that provide hands-on learning experiences. Reach out to local event planning businesses or consider volunteering with non-profit organisations that organise events. This offers a chance to learn new skills while supporting a worthwhile cause. Websites like VolunteerMatch can assist you in finding relevant opportunities in your area.
  2. Earn event management certifications: event planning diverges from the traditional career path that typically involves formal education, qualifications, and entry-level positions. While a degree is not mandatory, it can be beneficial to enrol in courses that teach event management concepts. Platforms like Udemy, LinkedIn, Event Academy and Major Event Management offer online courses for different levels of knowledge. Moreover, there are industry-recognised certifications provided by professional associations like the ILEA (International Live Events Association). Noteworthy designations include the CSEP: Certified Special Events Professional, the CMP: Certified Meeting Professional and the CMM: Certificate in Meeting Management. These certifications hold significant value within the industry.

Step 2 - Find your niche

Identify your personal preferences and interests within event planning. Conduct a market analysis to understand the current supply and demand for your chosen niche. This analysis helps you identify competitors, gaps in the market, and your target audience's needs and willingness to pay. Here are some resources to gather information:

  1. Conduct regular Google searches.
  2. Leverage websites like you can leverage websites like Similarweb, Statista, Federation of Small Business and British Chambers of Commerce to gather valuable and specific information about your competitors and the event industry as a whole. These resources can provide you with insights to support your decision-making process.

Step 3 - Create a business plan

A comprehensive business plan is essential for success. It helps clarify your business concept, anticipate challenges, establish objectives, and track progress. A well-crafted plan also attracts external investors. Consider using the Lean Canvas template to focus on crucial aspects of your business. Regularly review and adapt your plan based on your venture's performance.

Simultaneously, finalise your budget by considering all anticipated expenses, such as insurance, taxes, licenses, and other costs. This will enable you to make informed and responsible decisions that impact the financial health of your business.

Step 4 - Define a pricing strategy

Determining the right pricing strategy can be challenging in the competitive event-organising market. Consider factors like your target customers, operational costs, your level of experience, and your competitors' prices. Strike a balance to ensure your pricing is neither too low nor too high. Providing good value for money builds customer trust and a strong reputation. Remember, pricing strategies can be adjusted as your business evolves. Read also, How to determine the best ticket price to drive your sales

Step 5 - Understand regulation and the legal obligation

During this phase, it is crucial to ensure that you are operating within the bounds of the law. If you have any uncertainties, it is advisable to seek guidance from a lawyer to avoid any unforeseen complications.

After selecting a name for your business, determine the appropriate business structure and understand the associated tax implications. Carefully evaluate options like establishing a limited company or operating as a sole trader to align with your goals and requirements.

Step 6 - Get the best tools

As an event organiser, utilising a ticketing platform is essential for effectively managing your business, selling tickets, and ensuring sold out events. While numerous options exist in the market, many come with exorbitant registration fees, subscriptions, and additional charges. Tixtree is a recommended platform that offers tailored solutions for event organisers at a competitive price. Choose your partners wisely to maintain your business's reputation and deliver high-quality service consistently; remember, your business's reputation is of utmost importance, so select your partners wisely to consistently deliver the highest quality service.

Step 7 - Market your business

Now is the time to promote your business. Let's see some options:

  1. Create your website: in today's digital age, having a website has become crucial for attracting customers as online searches have become the norm when seeking products or services. You have two options: hire a web designer to create your website or utilise user-friendly website-building platforms like Wix, Webflow or GoDaddy. These platforms require no programming skills and allow you to build a website with just a few clicks. If you choose to create the website yourself, remember these key points:
    1. Communicate the services you offer and the specific target customers you cater to right from the start;
    2. Ensure essential information is presented in a clear, direct, and easily understandable manner;
    3. Make navigation throughout the website intuitive and user-friendly;
    4. Implement SEO best practices throughout the site to optimise its visibility in Google search results when people look for event planning services and businesses.
  2. Word-of-mouth marketing: recommendations from friends and acquaintances hold a significant influence. It's because we trust the experiences of those who have already tried a particular product or service, and we tend to follow their advice. Encourage word-of-mouth marketing by:
    1. Identifying potential customers within your network and reaching out to them via email to introduce your business;
    2. Hosting an event to showcase your services to friends, family, and individuals who may be interested in what you have to offer;
    3. Creating feedback channels to gather testimonials, such as Google reviews, emails, and feedback surveys. Showcase these reviews across multiple platforms, including social networks, review platforms like Trustpilot, and your own website, to maximise their visibility and impact.
  3. Social Media: leverage the power of social media to reach a wide audience and promote your business.Here is some advice:
    1. Determine which social media channels your target audience frequents the most and create dedicated accounts;
    2. Make sure to provide all relevant information and contact details. When developing your social media marketing plan, set clear goals that are specific, measurable, attainable, relevant, and time-bound (SMART goals);
    3. Track meaningful metrics such as engagement, click-through rates, and conversion rates to measure the success of your strategy;

We hope this guide has provided you with the essential steps to create your business. Remember, setbacks are a part of the journey. Learn from them and continuously seek ways to improve your business. By doing so, you'll increase your chances of organising successful events.