Business Idea

Start An Event Planning Business

About

Starting an event planning business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell event planning, or selling event planning online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an event planning business ➜

Key stats

market size
$4.9B
revenue (monthly)
$92.5K
starting costs
$19.1K
gross margin
32%
avg product price
$650
time to build
8 months
growth
SEO
business model
Subscriptions
time investment
Side project

About

Starting an event planning business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell event planning, or selling event planning online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an event planning business ➜

Key stats

market size
$4.9B
revenue (monthly)
$92.5K
starting costs
$19.1K
gross margin
32%
avg product price
$650

 

time to build
8 months
growth
SEO
business model
Subscriptions
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $151 $352
Equipment & Supply Expenses $566 $5,700
Website Costs $303 $7,215
Business Formation Fees $600 $4,700
Other Expenses $0 $2,300
Software Expenses $162 $3,094
Advertising & Marketing Costs $75 $5,286
Total Startup Costs $2,607 $35,647

Successful Businesses

Business URL Rank
Planning Center planningcenteronline.com #11,210
Caterease caterease.com #398,754
Event Industry News eventindustrynews.com #525,029
Best Event Management Software eventdex.com #804,863
eventplanner.net eventplanner.net #908,990
Evenesis evenesis.com #1,096,449
Grenadine Event Management Software grenadine.co #1,111,471
EventPlanning.com eventplanning.com #1,329,872
Eventstant eventstant.com #1,521,893
Welcome To Eventure event-ure.com #1,703,365
Sugar and Spice Events sugarandspiceevents.com.au #1,720,787

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Meaningful business connections You never know who you will meet as a event planning business. This could be the start of an incredible business opportunity!
Pick & choose the clients you work with Event Planning 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!
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!
Unlimited income potential With starting an event planning business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.
Daily physical activity Event Planning Business's typically involve a much greater degree of movement than other lines of work. Most days, you will spend your day walking, running errands for your business, and performing a multitude of tasks. This can have a positive impact on energy levels and your overall health.
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 planning 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.
Low margins The gross margins for your event planning business are typically around 32%, which can make it more challenging to incur new expenses and maintain profitability.
Niche Market A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.
Churn In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.
Time commitment With starting an event planning business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.

Marketing Ideas

  • 1

    Affiliate program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

  • 2

    Direct Sales

    Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.

    For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

  • 3

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.