Start An Event Organizing Business - Business Ideas
Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.
Here's an idea for those who excel at bringing people together and crafting unforgettable experiences: an event organizing business. Simply put, this venture involves planning events - be they weddings, corporate conferences, or intimate family celebrations - down to the last, memorable detail.
It's the ideal line of work for individuals who have a knack for multitasking, negotiating, and curating aesthetic elements. With each event you plan, you not only construct a tangible experience but also create delighting memories for your clients.
An event organizing business does not necessitate an enormous initial investment. It does demand keen attention to detail, tireless energy, and a skill for juggling diverse tasks. And the payoff? The satisfaction of making dreams come true and the chance to shape unforgettable moments.
But while it is rewarding, this business is not for the faint-hearted. It requires a resilient spirit, ready to face unforeseen challenges around every corner. But fear not, these challenges are nothing but stepping stones paving your path to mastery in event management.
Starting an event organizing business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell event organizing services, or selling event organizing services online, you can use this page as a guide for everything you'll need to know.
Key Stats
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
|
Employee & Freelancer Expenses |
$151 |
$252 |
|
Website Costs |
$223 |
$7,015 |
|
Business Formation Fees |
$600 |
$4,700 |
|
Vehicle Expenses |
$0 |
$10,000 |
|
Retail Business Expenses |
$1,250 |
$6,650 |
|
Advertising & Marketing Costs |
$75 |
$3,986 |
|
Software Expenses |
$162 |
$2,720 |
|
Office Space Expenses |
$0 |
$100 |
|
Specific Industry Expenses |
$0 |
$500 |
|
Total Startup Costs |
$2,461 |
$35,923 |
Case Studies
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$3K/mo
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$108K/mo
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$163K/mo
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
|
Action Network |
actionnetwork.org |
12,919 |
|
|
Cozi Family Organizer |
cozi.com |
33,092 |
|
|
GDS Group |
gdsgroup.com |
214,095 |
|
|
All American Entertainment |
allamericanspeakers.com |
268,855 |
|
|
Security Summits |
securitysummits.com |
281,586 |
|
|
Top Event Management Companies in Dubai |
plan3media.com |
569,727 |
|
|
Hyderabad Events |
hyderabadevents.com |
584,272 |
|
|
GiveSignup |
givesignup.org |
640,646 |
|
|
Event Organiser |
wp-event-organiser.com |
668,376 |
|
|
Event Caddy: The Best Golf Tournament Software |
eventcaddy.com |
762,448 |
|
|
InBIA |
inbia.org |
776,295 |
Pros & Cons
| Pros | Description |
|---|---|
|
Little startup costs required |
The cost to start a event organizing business costs significantly less money than most businesses, ranging anywhere from 62 to 35,923. |
|
Rewarding work |
Starting a event organizing business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about. |
|
High customer retention rates |
Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer. |
|
Pick & choose the clients you work with |
Event Organizing Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients! |
|
Control of workload |
With starting an event organizing business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you. |
|
Gain exposure and experience |
This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you! |
| Cons | Description |
|---|---|
|
Motivation of employees |
If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees. |
|
Longer Sales Process |
A event organizing business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers. |
|
Work can be inconsistent |
As a event organizing business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have. |
|
Lack of benefits |
With a event organizing business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming. |
|
Taxes |
As a event organizing business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it. |
|
No safety net |
Typically, as a event organizing business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times. |
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