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.
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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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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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Events Business Plans
Event planning business plans.
- Beverage Machine Rental Business Plan
- Catering and Ballroom Rental Business Plan
- Catering Company Business Plan
- Event Planning Business Plan
- Funeral Home Business Plan
- Global Event Planning Business Plan
- Limousine Taxi Business Plan
- Membership Social Events Business Plan
- Nightclub Resort Complex Business Plan
- Nonprofit Trade Association Business Plan
- Online Booking Business Plan
- Personal Event Planning Business Plan
- Video Production Business Plan
Weddings Business Plans
- Bridal Gown Shop Business Plan
- Bridal Shop Business Plan
- Wedding Consultant Business Plan
- Wedding Venue Business Plan
If you do weddings or events, you already know how important planning is. The same applies to your business. Check out these sample business plans for event planning, wedding consultants, special event planners, and other event management businesses. Then use what you learn to write the plan for your own business.
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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.
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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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PlanBuildr's Event Planning Company business plan template will help you to quickly and easily complete your Event Planning Company business plan.
Want to start an event planning business? We have prepared a solid event management business plan template that guides you on every stage of your business plan writing.
An event business plan helps you focus on the purpose and goals of the event. In your plan, illustrate your event’s financial potential and plan the resources and operating structure you’ll need to deliver.
Check out these sample business plans for event planning, wedding consultants, special event planners, and other event management businesses. Then use what you learn to write the plan for your own business.
A successful event planning business plan should include five key things: a clearly outlined mission and vision; a comprehension of the market and potential growth areas; financial objectives; marketing strategies with ways to promote and establish brand identity, and tactics for effective operations.
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.