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)
$35K
starting costs
$19.1K
gross margin
32%
avg product price
$650
time to build
8 months
growth
Facebook Community
business model
Brick & Mortar
time investment
Full time

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)
$35K
starting costs
$19.1K
gross margin
32%
avg product price
$650

 

time to build
8 months
growth
Facebook Community
business model
Brick & Mortar
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $35 $3,250
Employee & Freelancer Expenses $0 $5,500
Equipment & Supply Expenses $550 $6,000
Website Costs $232 $6,500
Business Formation Fees $600 $4,700
Other Expenses $0 $2,300
Software Expenses $150 $3,044
Advertising & Marketing Costs $75 $5,286
Total Startup Costs $1,642 $36,580

Successful Businesses

Business URL Rank
Best Event Management Software eventdex.com #804,863
EventPlanning.com eventplanning.com #1,329,872
Gianna & Company giannaandcompany.com #3,056,373
Lauren Chitwood Events laurenchitwoodevents.com #4,116,764
PLAN DESIGN EVENTS MIAMI plandesignevents.com #5,763,234
DFW Events dfwevents.com #5,772,095
WE Plan It weplanit.com #9,541,646
It's All in the Details itsallinthedetailsseattle.com #9,585,828

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

    Direct sales

    You may find yourself in a spot where you're ready to hire a few (or many) salespeople to support the sales conversion process. Regardless if you have one or thirty salespeople, it's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

  • 2

    Word of mouth

    The most tried and true way to grow a event planning business is through word of mouth - some entrepreneurs would say it's more important than all social media.

  • 3

    Partnerships

    Starting a event planning business is all about building relationships and becoming an integral part of your community.

    Many entrepreneurs make the mistake of thinking they can do everything on their own. In reality, other businesses (even your competition) and members of your community can be a huge piece of your growth strategy.

    When forming any type of partnership, a lot of energy and time can go into this.