How to Start an Event Planning Business
How to Start an Event Planning Business
The Complete Guide to Starting an Event Planning Business
Starting an event planning business is an exciting way to turn your love for organizing memorable events into a successful career. The industry continues to grow as more people and businesses recognize the value of hiring professionals to handle their special occasions and corporate events. This guide will walk you through everything you need to know to start an event planning business.
1. Do market research
Your first step in starting an event planning business is to study your local market to understand what services are in demand. Look at competitors to see what they offer and identify gaps you can fill. Focus on specific event types like weddings, corporate meetings, or birthday parties to stand out from general planners.
Talk to potential customers about their event planning needs and challenges. Visit local venues, caterers, and vendors to understand pricing and build relationships. This research helps you create services people actually want and need.
2. Write an event planning business plan
A business plan serves as your roadmap and helps you secure funding when needed. It communicates your vision to potential clients and partners while keeping you focused on measurable goals.
Start with an executive summary that includes your business objectives and mission statement. Add a market analysis showing your target audience and competitor research. Detail your event planning services, pricing strategy, and marketing plans including website development and networking.
Finish with financial projections showing startup costs, revenue goals, and your path to profitability within 12 to 18 months. Update your business plan regularly as your company grows and evolves.
3. Register your business
Choose your business structure: LLC, sole proprietorship, or corporation. Most event planners choose an LLC structure, which protects your personal assets from business liabilities. Unlike sole proprietorships that offer no liability protection or corporations that require complex paperwork and double taxation, an LLC gives you legal protection with simple tax filing.
Choose a memorable business name that clearly represents your services and includes event planning keywords for online visibility. Check your state business registry and the USPTO database to ensure your name is available. Secure the matching website domain name for consistent branding across all platforms.
4. Handle legal requirements
To operate your business properly, you need to:
Obtain a general business license from your local government offices.
Get a Federal Tax Identification Number from the IRS for tax purposes and business banking.
Register for a sales tax permit if your state requires it for services.
Purchase general liability insurance to protect against injuries or property damage at events.
Consider professional liability insurance for additional protection.
5. Get your finances in order
Many event planning businesses start with personal savings and existing assets. If you need additional funding, options include loans from friends or family, small business loans from banks, investor funding, or crowdfunding platforms.
Regardless of your funding sources, open a dedicated business bank account to separate personal and business finances. Track your expenses carefully and use accounting software or hire an accountant to manage cash flow, payroll, and taxes. Implement a system that tracks profitability on individual projects to understand which event types generate the highest profit to grow your business.
6. Define your services and pricing
When starting out, focus on specializing in one or two event types rather than trying to handle everything. Wedding planning, corporate events, and social celebrations each require different skills, vendor relationships, and expertise. Specializing helps you build a strong reputation, develop deep knowledge of your chosen market, and target your marketing efforts more effectively.
Create event planning service packages at different price points to appeal to various budgets and needs:
Full-service planning for clients who want comprehensive support
Day-of coordination for those who prefer to plan themselves
Consultation-only options for budget-conscious clients
Research what other planners in your area charge and price your services competitively while ensuring you maintain healthy profit margins.
7. Build your skills and network
Build your skills through hands-on experience with small projects. Plan events for friends and family to practice your organizational abilities while documenting details for your portfolio. Volunteer for local charity events and community gatherings to gain real-world experience and collect testimonials without the high-stakes pressure of working with paying clients.
Build relationships with reliable suppliers including florists, caterers, photographers, and rental companies through meet-and-greets. These vendor partnerships provide trusted resources and create referral opportunities that lead to new clients.
Grow your network by joining professional organizations like the International Live Events Association and attending industry conferences and trade shows.
8. Market your event planning business
Develop a comprehensive marketing strategy that combines digital and traditional approaches to reach potential clients:
Join Fash to connect with clients searching for event planners in your area.
Build a strong social media presence on Instagram and Facebook to showcase your work visually.
Create SEO-optimized content through blogging and local search optimization to improve your online visibility.
Network actively at industry events, trade shows, and local business organizations to build referral relationships.
Develop a portfolio by volunteering for charity events and community gatherings to gain experience and collect testimonials.
Use traditional marketing like business cards, brochures, and local advertising to reach clients who prefer offline channels.
Learn more about marketing budgets and strategies with this helpful Marketing Costs guide.
9. Book your first clients
Start by reaching out to your personal network and asking friends, family, and colleagues for referrals, as word-of-mouth recommendations carry significant weight in the event planning industry. Offer discounted rates for your first few clients in exchange for detailed testimonials and high-quality portfolio photos that you can use to attract future business.
Partner with local vendors, like caterers, florists, and photographers who can refer clients to you. Contact venues directly to introduce your services. Consider offering free consultations to demonstrate your value to potential clients.
10. Manage your business operations
Use project management tools to track event details, timelines, and client communications in one organized location. Keep detailed records of all expenses and income for tax preparation and financial tracking.
Create standardized contracts that outline your services, payment terms, and cancellation policies to protect both you and your clients. Establish clear payment schedules with deposits and milestone payments to maintain healthy cash flow.
Most of all, provide excellent customer service that exceeds client expectations. This builds strong trust and loyalty, leading to repeat business and positive reviews, which are vital in an industry driven by word-of-mouth referrals.
How to start an event planning company with no experience
Don't let lack of experience stop you from starting an event planning business. Many successful planners began without formal training, building their skills through hands-on learning and determination.
Start by volunteering for local events with charities, churches, and community groups that need help but can't afford professional planners. Plan events for friends and family to practice in low-pressure settings while building your portfolio with photos and testimonials.
While gaining experience, take affordable online courses through LinkedIn Learning or Coursera to learn event planning basics. Consider professional certifications like Certified Meeting Professional (CMP) to build credibility. The event planning industry values creativity and organization over formal credentials, so start with volunteer work and build through excellent service.
Check out our guide on How to Become an Event Planner for more information.
FAQs about starting an event planning business
Do I need a business license for event planning?
While event planners don't need a specific license to perform their work, you'll likely need a general business license from your city or county to operate legally. You may also need additional permits like a sales tax permit, Federal Tax ID (EIN), and special event permits depending on your location and the types of events you plan.
Is event planning a profitable business?
Event planning can be highly profitable, with the industry generating more than $500 million worldwide annually. The business has relatively low startup costs and benefits from growing demand for both corporate events and consumer celebrations like weddings and festivals.
How do I start an event planning business with no money?
Start by volunteering to plan events for friends, family, and local nonprofits to build experience and a portfolio without upfront costs. Leverage free resources like online courses, social media marketing, and working from home to minimize expenses while you gain clients and generate revenue to reinvest in your business.
Can I start an event planning business from home?
Yes, many successful event planners start their businesses from home to keep overhead costs low during the critical early stages. You primarily need a laptop, internet, and a mobile phone, and most client meetings can take place at the clients' offices, venues, or neutral locations like coffee shops.
What do event planners charge?
Most event planners price their services using a percentage model, charging 15% to 20% of the total event cost. Some planners also offer hourly rates, fixed package pricing, or tiered service levels to accommodate different client budgets and needs.
Using our proprietary cost database, in-depth research, and collaboration with industry experts, we deliver accurate, up-to-date pricing and insights you can trust, every time.