Event Planning Starting and Running a Home Based Event

Transcription

Event Planning
Starting and Running a Home Based Event
Planning Business
Contents Page
Career kit
Bizymoms
1. Introduction
a. What is event planning?
b. Why do people outsource event planning?
c. Am I capable enough?
d. Why should I do it?
2
3
4
5
2. Getting the basics in order
5
a. My personal contacts
b. My strengths and weaknesses
c. What type of events should I do
d. What resources do I need & do I have
5
6
7
8
3. Evaluating the competition
10
a. What do they offer?
b. What is unique in each of them?
c. How expensive are they?
d. Can I do something better?
10
10
10
11
4. The business plan
12
a. How to get the pricing right?
b. How personalized can I get?
c. Registering the business
12
12
13
5. Marketing
13
a. What will I name the business?
b. How will I create visibility for myself?
13
13
6. Finances
14
a. Start-up costs
b. Forecasting business growth
c. Am I happy with the profits?
14
15
15
7. Growing the business
15
a. Vision for my business
15
8. Summary
15
Copyright 2008 Bizymoms.com
1.Introduction
1. Introduction
Every woman, particularly every mom, becomes an event planner in some way during her lifetime. It's
an inherent skill that some extend to a full scale business. In essence, event planning involves all the
processes that go into organizing an activity, which may be a party, a competition or more complicated
planner is also known as a conference coordinator, convention planner, meeting manager and special
event coordinator, based on expertise or specialty.
1.1 What is event planning?
Gone are the days when planning an event only involved the hosts themselves. While companies have
Event Planning
affairs like conferences, ceremonies and festivals. Based on the type of event handled, an event
been outsourcing the organizational aspects of important events for some time now, within the past few
years, more and more people have begun to rely on 'planners' for the simplest occasions, from birthday
parties to baby showers. This relatively new, lucrative market has seen a surge in the 1990's and
despite the lull in the early 2000's when budgets were slashed and attendance dropped, it is still
growing. In 2003, the convention and trade show organizer business reaped $10.134 billion, as
reported by the Bureau of Census Service Annual Survey. However, experts predict that family-based
events planning businesses such as birthdays and anniversaries will be just as promising in the future,
due to the global population increase.
Some of the general processes in event planning include:
Setting deadlines
Managing financial aspects
Selecting and reserving a suitable venue/s
Preparing and sending invitations
2
Liaising with suppliers
Creating the atmosphere (Music & Décor)
Coordinating transportation, advertising, catering
Ensuring smooth progress of the event on the day
Communicating regularly with the clients to ensure satisfaction and conformity
Follow up work i.e. get feedback, send word of appreciation for participants etc.
1.2 Why do people outsource event planning?
This is relatively a new career field but it's growing at a tremendous pace. So why is that people prefer to
personal of social occasions? Let's consider the advantages:
1.2.1 Convenience
This is the most common reason to hire event planners. Today, many of us just don't have the time,
resources or the energy to pay attention to the details that go into organizing events. Even if we did have
Event Planning
let total strangers handle their corporate ceremonies, to the say the least of their weddings, the most
such small luxuries, planning an event down to a tee can be an exhaustive experience and can
sometimes take the fun out of the whole occasion. Companies especially, prefer to keep their
employees occupied with their routine work and to have the event management aspect outsourced.
Event planners are there to take are of the background details so that the people who are hosting the
event can actually sit back and look forward to the big day, rather than worry through it. Especially in
events like weddings and parties, the hostess would prefer to be involved in the activity along with the
other guests and not have to control the scene from behind.
1.2.2 Expertise
Event planners are equipped with what many of us lack the right contacts and information. Plus, they
have handled similar projects and know just 'what to do' and 'how to do' during difficult times. With their
help, it's easy to select between A and B without it becoming a nail-biting affair. This will take the
pressure off any host and he/she in turn can concentrate on other issues. And nowadays you rarely find
events which are planned from several months back, so experienced people are needed to plan and
execute events in very short notice.
3
1.2.3 An 'outside view'
Let's face it. More often than not, being the 'inside party' means you are mentally conditioned and
perhaps biased in certain ways. It's like how an author should always engage another 'neutral' person,
so that his script is error-free and flowing. The same theory applies to event planning. Event planners
help to keep things objective. Because events are not only there to celebrate with your friends, but they
are also used to indirectly visualize one's image, status and financial power. In order to make it
1.2.4 Creativity
Some people are very good at organizing parties, launches and similar events. But as time goes along
the demands tend to change and tastes become diverse. In such situations creativity or novelty in such
events play a vital role. An events planner brings this creativity to an event. They make sure the event is
different to what the guests have experienced earlier, and most concentrate on the latest themes.
Event Planning
appealing to all the guests, professional help is a must rather than depending on your own taste.
These themed events allow interactive activities for guests and also provide an opportunity for guests to
show-off their costumes and dresses.
1.3 Am I capable enough?
So the next question in your mind will be if this business is for you. If you are an active person, who can
run around, have creative ideas, have excellent people skills, and believe you are a good organizer then
you have passed the test. If you are one of those, who love to organize parties and are always the pick of
your friends to organize activities, then you have passed with flying colors. Moreover, if you have
previous working experience, have organized events at office and worked with suppliers then this
business is definitely for you.
Needless to say, event planning is not an orthodox, 9-5 career. You have to constantly be on your toes
and alert to the task at hand. You will need to communicate back and forth with the clients and the
vendors, and be accessible, even 24 hours a day and seven days a week! On a positive note, if you are
an organized person, a natural at coordination and thinking on your feet, you could rise to the challenge.
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1.4 Why should I do it?
In simple terms you don't need any large financial backing to start this and the actual amount of cash
you need in monetary terms is very small. And the returns (profits) can be quite large, when compared to
how much you need to start the business. Since there is minimom capital and part-time commitment,
you can involve yourself in the business whenever you want or feel like it. There are no risks, except to
finish whatever you have undertaken and if you are determined there are no limits for your growth. Now
The modern working woman is driven by pride and contentment in her work as well as the will to
succeed. If you are methodical, energetic individual who enjoys bringing people together and keeping
them entertained, this industry is for you. What better way than to apply your inborn creativity, charisma
and love of planning? It is one of the most rewarding and challenging careers because you area dealing
with many different people and trying (however improbable this seems) to please all of them. And what's
Event Planning
how many businesses can offer you this sort of break!
more, you get to be smack in the middle of organizing so many events, as if they were your own. Who
says you can't enjoy and make money at the same time!
2. Getting the basics in order
2.1 My personal contacts
Networking is perhaps the most important aspect of starting and maintaining your own business in
event planning. The more contacts you, the more the chances of striking gold, and keeping it. You need
to really put yourself out there and not wait for people to come to you with questions. Personal contact
will help you in several ways.
a. Finding clients
b. Getting the message across
c. Free market research and sample to test your ideas
You don't have to be a social butterfly to be one step ahead of the rest but you do need to make a lasting
impression with the opportunities at hand. If you want to start want to start your business off in style,
there is only one way to do it-have your own party! It would be ideal if you can base the occasion on your
business aspirations. In other words, if you want to get into children's' parties organizer business, your
own party could be planned to celebrate the birthday of your child or your friend's child. Whatever the
event, it does not need to be a grand affair with a lot of spending.
5
This is your chance to show off your skill in creating a memorable experience on a sensible
budget. Let your individual taste speak for itself and create a trademark that will not go
unnoticed by potential clients. The immediate objective would be to have the kids on their best
behavior and squealing in glee (enough for the parents to take note)! Feedback is free so it's
wise to pay attention and learn. In this business, family and friends becomes a great asset,
especially if they are willing to go out of their way to put in a good word for your capabilities. You
could hand some brochures to anyone who would care to spread the message. It may be a good
idea to first plan few events for friends and relatives free of charge, so that the only way they will
photographs of the whole event! These will come in useful, when you want to market your
services.
2.2 What are my strengths and weaknesses?
Before you test the waters, it helps to do a small personal evaluation and determine where you stand. As
in any business, firstly you need to know what your strengths and weaknesses are. Once it is done see if
Event Planning
be paying you back is by writing glittering recommendations and supplying you memorable
your strengths are sufficient enough be an event planner and if there are any crucial weaknesses that
might hamper your opportunity. Here are some of the strengths which you should possess to be a good
event planner.
Ability to multi-task
Leadership skills
Attention to detail
Marketing & negotiating skills
Capacity to work under stress/ to
Positive attitude meet deadlines Self-motivation and drive
Creativity and imagination Supervision and delegation
Efficiency and organizational skills Team player
Energy, enthusiasm and stamina Thinking on your feet
Excellent communication skills Time-management and problem
Flexibility & adaptability solving skills
Inter-personal skills Tolerance
The good news is most of those above can be acquired or sharpened by training, the bad news is certain
weaknesses (you earlier business crashed out, you have a bad business reputation, you are known to
be an inefficient person, not many people like you etc.) can override these strengths.
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2.3 What type of events should I do?
Depending on personal interest, time availability and location, you can specialize in a niche area. For
instance, you may prefer to handle simple projects like birthdays and anniversaries, as opposed to corporate
events, conventions and exhibitions. Or, if your city is blessed with amazing sceneries and attracts plenty of
young romantics, you may consider becoming a wedding planner. A busy metropolitan, on the other hand,
offers more scope for a corporate event planner. The most important thing here is to do something that you
believe in and enjoy because in order to turn out a perfect event, you have to treat it like your very own.
Your past 'hands-on' experience can also come into play. If you've worked as an executive for a firm and
been actively involved in organizing events that is as good a qualification as any formal training. Or maybe
you've always been the neighborhood's favorite mom when it comes to organizing get-togethers,
supporting services, such as catering, would come in useful.
Judy Allen categorizes the various types of events in this industry, in her book titled 'Marketing Your Event
Planning Business: A Creative Approach to Gaining the Competitive Edge'. The three most popular types
are outlined here:
a) Social Market
This includes birthday celebrations, children's parties, bar and bat mitzvahs, reunions, graduations,
Event Planning
anniversaries, birthday parties, etc. Never underestimate the power of the grapevine! Even experience in
weddings, other hospitality events and memorials and civic events. The field has much potential as it is
more simple / informal and stands to gain much from word of mouth. You would be able to use more of
your imagination and not be limited to a certain frame. On the other hand, these are mostly one-time
events; you cannot expect to be hired to plan your neighbor's wedding anniversary each year. Emotions
and expectations run high due to the personal nature of the event.
b) Corporate Market
Events that are owned by private organizations, corporations, businesses and political parties come
under this category. They tend to be large-scale and a source of high revenue. If you succeed with one
event, it's very likely that you will get continuous offers from the same party over the years. Some
examples of these types of events: award dinners, board member or stockholder meetings, company
outings, conferences and seminars, competitions, fashion shows, trade show events and exhibitions,
product launches, team building events. The range of tasks involved in carrying out the event is also
complicated. Apart from arranging the food, décor and entertainment, you may have to make hotel
selections and reservations, create an event design and conduct research and evaluations of the event.
Your clients may be not be subjective, as in the case of the social market, but for the money you are being
paid, they will demand very high standards and perfect execution.
c) Non-Profits
Events hosted by charities and non-profit organizations are described here, i.e. conferences,
fundraisers, receptions, seminars. Basically, your task would be to organize events which will create
awareness of issues being supported by these organizations and to expand their public base which in
turn would generate funds. The revenue is comparatively low but the assignments are usually very
interesting and rewarding. Generally, training in these events turn out to be good for your resume as an
event planner.
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2.4 What resources do I need and do I have
It's very important to do a checklist of the resources you need for the home business and then compare
it with what you already have. The gaps can be filled either by training, or acquiring the some expert
assistance.
a) Knowledge resources
The idea here is to expand your knowledge and gather as much information as possible, on your own.
Learning should be a continuous process but of course, it is best to start out with as much information as
various aspects of event planning can give you confidence to handle your work. For further training, you
can try to volunteer in your local societies or non profit organizations. Not only does this help you to
cultivate relationships (sometimes even partnerships) but you can get a good idea of the facilities and
opportunities available to you. Professional bodies also organize conferences and workshops that may
of be interest and much use to you. Here are some helpful resources that are sure to fill in the
information gaps:
Event Planning
possible because once the business takes off, there will not be much time for reading. Writings on
Books
Special Events: 21 century Global Event Management by Joel Jeff Goldblatt
st
Dollars & Events: How to Succeed in the Special Events Business by Joel Jeff Goldblatt & Frank
Supovitz
Gala!: The Special Events Planner for Professionals & Volunteers by Patti Coons
Event Planning: The Ultimate Guide to Successful Meetings, Corporate Events, Fundraising
Galas, Conference Conventions, Incentives and Other Special Events by Judy Allen
Planning Successful Meetings & events, by Ann J. Boehme
Magazines
Event Solutions-features expert advice, industry news and benchmarks, latest trends and case
Studies
Visit www.eventsolutions.com for subscriptions
Special Events-publishes annual Fact books and Source books.
Visit www.event_solutions.com for subscriptions.
Online Resources
1) Online Small Business Workshop www.cbsc.org/osbw
2) Service Corps of Retired Executives www.score.org
3) Chamberbiz www.chamberbiz.com/bizcenter/startup.cfm
4) Small Business Administration www.sbaonline.sba.gov
5) Small Business Legal Encyclopedia www.nolo.com/encyclopedia/sb_ency.html
8
Formal qualifications
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through hospitality departments in universities. According to Petersons.com, there are about
hospitality departments in universities. According to Petersons.com, there are about 204 universities
204 universities and colleges providing such courses. It is worthwhile to check out whether they
and colleges providing such courses. It is worthwhile to check out whether they cater to your specific
cater to your specific needs.
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b)
Physical Resources
Event Planning
needs.
Major event planning associations also offer professional certification programs. The advantage here is
Even a home-based business cannot be run alone. You can approach those who you know well- family
that, on successful completion, you will be part of a wide network of professionals in this field.
and friends- in order to try to find people who will be interested to join you in this line of work. Familiarity
will definitely help to streamline event planning processes. And it is a convenient way to go about until
b) Physical Resources
you have
acquired the funds to hire qualified people, if need be.
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to say, a mobile phone is a must have. For transportation purposes, a van or a SUV is best, as you will
3.Evaluating competition
need ample space.
For any business, it is worthwhile to check out the competition, so that your business aspirations are
not neatly overlapping with theirs. Since it is quite difficult for small business owners to spend too much
time and money on advertising and competing, for attention, the most sensible way is to grab a niche
market that others have not encroached, although this may not be practical in some cases.
Copyright
Copyright2008
2008Bizymoms.com
Bizymoms.com
9
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Event Planning
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it is
free.
worthwhile
This would
to check
make them
out the
happy
competition,
and also stick
so that
to you.
your business aspirations are
Therefore
the best
option
is to
provide
Give the
consumer
the option
to choose
not neatly
overlapping
with
theirs.
Since
it ispackages/options.
quite difficult for small
business
owners
to spend
too much
different
packages
at different
prices,
with certain
which
can
be add-ons.
Once
decide
a
time and
money
on advertising
and
competing,
foroptions
attention,
the
most
sensible
waythey
is to
grabon
a niche
throw
in some
other goodiesalthough
(kids fun this
bouncer,
for wedding
free article on
market package,
that others
have
not encroached,
may flower
not bedécor
practical
in somecar,
cases.
local newspaper) for free. This would make them happy and also stick to you.
Copyright
Copyright2008
2008Bizymoms.com
Bizymoms.com
10
3.1 What
Formal
qualifications
do they offer?
Youout
always
askare
yourself
why already
aand
customer
should
business
with (check
you
thanif another
event
First,
This isfind
not
ashould
must
about
butthe
if you
event
planners
ambitious
want
operating
to
movedo
inonyour
to relatively
locality
large-scale
there
projects,
are
similar
then
planner.
So what makes
metry
different?
Howavailable
can
woo to
customers?
it's
home-based
highly
recommended.
businesses)
These
and
options
to see are
how
youI can
make
beginners:
a difference. If the others are not willing to
be too helpful or to share information with you, maybe you can check with your friends and family for
\This
falls
down to by
creativity
whole
package.
creativity
itself
distinguish
you
feedback
a) University
onmainly
events&
organized
College
Programsthem. and
Thisthe
These
way,
you
are
cancomprehensive
alsoYour
get an
idea of
programs
howcan
much
usually
they charge
offered
for
from
others.
And
level
of professionalism
too accepted
can make
you
stand
from the rest. What
youare
need
eventsthrough
and be
sure
hospitality
thatyour
your
departments
charges
areinwithin
universities.
the
According
range.
to out
Petersons.com,
there
about
to
remember
is
that
the
success
of
an
event
depends
solely
on
one
factor
at
the
end
of
the
day.
It
needs
to be memorable.
Guests
should
talk about
it for days;
should
refer
to it even after
weeks.
this is
Competition
cater
to
isyour
veryspecific
important
needs.
in business.
It gives
you athey
pulse
of the
business,
the way
theAnd
industry
makes
hostshow
very consumer
happy and satisfied.
Therefore,
if it means
going
behaving
andthealso
preferences
are even
changing.
You
canslightly
also over
visitbudget
manyand
online
doing something
extra and
onsites
your
own
at the
final
minutehow
can These
have
lasting
effect.part-time
professional
b) Certificate
event
Courses
planning
Continuing
anddecision
get some
Education
idea
Programsabout
they awork.
are mostly
Initially
it is vital courses,
that you
To
communicate
all
these
you
will
need
a
good
brochure.
Remember
that
all
your
material
will
reflect
understand
whichthe
arebusiness
conveniently
and the
held
processes
during weekends
thoroughly.
or in
Sothe
spend
evenings,
a lot oftotime
accommodate
studying how
those
different
who
what
sought
ofThe
a service
you are
provide.
haveflexible.
a good
card, high
quality
brochure
peopleare
handle
working.
different
businesses.
courses
also
FireSo
some
more
calls
to business
event planners
and
see printed
what they
ask, and
howifthey
possible
aevent
website
(use
a free-site,
wherefirst-hand.
you
can update
your successfulcertification
events weeklyprograms.
with photos The
respond
Major
and how
best to
planning
impress
associations
customers
also
offer professional
and endorsements).
can on
continue
all the good
work even when
over,
your of
advantage
here isYou
that,
successful
completion,
you the
willparty
be is
part
ofbyadistributing
wide network
brochure
to gift in
shops,
bakeries, dressmakers, transport services, advertisers etc., and by getting their
3.2 What
professionals
is unique
inthis
them?
field.
details to be filed as your resources. You never know what little piece of information come in useful so all
the gather
data needs
to be organized
electronically.
Once
b)
you
Physical
Resources
information
from different
types of event planners, you will see that some offer unique
things which others don't offer. And also each planner has some different approach and offering which
sets you
apart
from the
rest?
At the
you have
organized
in the
past,
for
friends,
how
makes
Even a What
customers
home-based
prefer
business
them.
cannot
For
example
be
runget-togethers
alone.
it can be
You
where
can
approach
the concept
those
and
who
the
you
creative
know
idea
wellisfamily
given
did you leave your mark? Is it the very unusual but charming decor? Is it the perfect menu selection that
free
in orderor
to where
try to find
they
people
provide
who
helpers
will be to
interested
look after
to the
join kids
you in
atthis
the line
party
of work.
for free,
Familiarity
or even
satisfied all who were present? Are you known to make the best off a limited budget? These are little
provide
will definitely
a complete
help torecorded
streamline
video
event
footage
planning
of theprocesses.
details that should be part of your business profile because they can be what your clients are actually
you have acquired the funds to hire qualified people, if need be.
after.
3.3 How
expensive are they?
To start, the necessary finances have to be in place. Initially, there will be several expenses, so a bank
After assessing the competition, you have basically two choices. :
The
loan fees
mayevent
soundplanners
like a good
charge
idea.isYou
critical.
need
But
to people
invest in
don't
a high
always
speed
go computer
for the cheapest,
with internet,
because
a fax,
they
a
To offer the same services because there is much scope in that particular area and you are sure
might
color printer
feel theand
work
themaybe
paraphernalia
cheap too.
thatAnd
goes
they
with
would
maintaining
think twice
a steady
beforestream
going to
ofacorrespondence.
premium priced
you can do better than the existing service providers
planner,
Needlesswhen
to say,
allathey
mobile
want
phone
is a small
is a must
party.
have.
Ideally
Foryour
transportation
pricing should
purposes,
dependa from
van or
event
a SUV
to event
is best,and
as
To do something new so you can forge your own path
depend
you will need
on time
ample
youspace.
need to spend, additional people you need to hire, amount of calls and traveling
involved and the size of the event itself.
Event Planning
3.4 Can I do something better?
Whichever way you decide, you need to establish yourself in the eyes of the consumer as to who you
are, a general event planner or a specialized event planner. If you intend to be a specialized event
Therefore the best option is to provide packages/options. Give the consumer the option to choose
planner, make sure the niche that you choose is big enough for you to make money continuously and is
different
packagescompetition
at different prices, with certain options which can be add-ons. Once they decide on
3.Evaluating
a growing niche.
a package, throw in some other goodies (kids fun bouncer, flower décor for wedding car, free article on
local
For any
newspaper)
business,for
it is
free.
worthwhile
This would
to check
make them
out the
happy
competition,
and also stick
so that
to you.
One way to deal with competition is to attend all the seminars, workshops and such similar training
programs that are be held in your area or even in neighboring towns. You must always keep a tab on
competition. As mentioned previously consumer's preferences matter a lot, therefore competitors will
give you the best indication how and when things are changing. Then only will you truly stay ahead of
your game.
Copyright
Copyright2008
2008Bizymoms.com
Bizymoms.com
11
4. Business
Formal
3.1
What
qualifications
do Plan
they offer?
it's
home-based
highly recommended.
businesses)These
and tryoptions
to see are
howavailable
you can to
make
beginners:
a difference. If the others are not willing to
beThe
toofollowing
helpful or
to share
information
with you,
maybe you can check with your friends and family for
should
be included
in the business
plan:
Services
you
will
provide
feedback
a) University
on events&organized
College by
Programsthem. ThisThese
way, you
are
cancomprehensive
also get an idea of
programs
how muchusually
they charge
offered
for
Your location
eventsthrough
and be sure
hospitality
that your
departments
charges areinwithin
universities.
the accepted
According
Your (prospective) clients
204
universities and colleges providing such courses. It is worthwhile to check out whether they
Possible competitors
Competition
cater
to
isyour
very
specific
important
needs.
inproducts
business.
gives you a pulse of the business, the way the industry is
Vendors
who
will provide
andItservices
behavingCharges
and also
how
consumer preferences are changing. You can also visit many online
for your
services
Howevent
you will
advertise
and
market
professional
b) Certificate
Courses
planning
and
sites
Continuing
and get some
Education
idea Programsabout how These
they work.
are mostly
Initiallypart-time
that you
How much money you need to get started
understand
whichthe
arebusiness
conveniently
and the
held
processes
during weekends
thoroughly.
or in
Sothe
spend
evenings,
a lot oftotime
accommodate
studying how
those
different
who
peopleare
handle
working.
different
The businesses.
courses are also
Fire some
more flexible.
calls to event planners and see what they ask, how they
4.1 How to get the pricing right?
respondMajor
and how
event
best to
planning
impressassociations
Charges
depend on
several
factors
as your business
aspirations,
locality,
for of
advantage
here
is that,
onsuch
successful
completion,
you will
be market
part ofsegment,
a widedemand
network
and
your qualifications
3.2services
What
professionals
is unique
in
inthis
them?
field.and experience. If you live in an upbeat, urban neighborhood where event
planning is in high demand, the prices can be towards the higher end of the spectrum. Each year of experience
adds value to your service too. In the book “How to Start a Home-Based Event Planning Business” by Jill
Once
b) Moran,
you
Physical
gather
Resources
information
different types of event planners, you will see that some offer unique
four
methods
of pricingfrom
are given:
Event Planning
A business plan is a kind of roadmap to outline all the aspects of your business. It will help to arrange your ideas
and to avoid costly decisions. But the business plan is not only for you. It will be useful to obtain a loan from the
First,
This
isfind
notout
a must
about
butthe
if you
event
areplanners
ambitiousalready
and want
operating
to moveinonyour
to relatively
locality (check
large-scale
if there
projects,
are similar
then
bank or from any other source, because the lender needs to know whether your business idea is promising.
Pricing
by the Hour
-Thisthem.
is considered
a very
method
many.
Anthose
hourly
rate
is setknow
for your
service
makes
Even
a customers
home-based
prefer
business
cannot
For example
be
run practical
alone.
it can be
You
where
can by
approach
the
concept
andwho
the you
creative
idea
wellisfamily
given
and
this
can
range
from
$25
per
hour
to
$125
per
hour.
The
type
of
service
that
you
offer
is
not
taken
into
free
in orderor
to where
try to find
they
people
provide
who
helpers
will be to
interested
look after
to the
join kids
you in
atthis
the line
party
of work.
for free,
Familiarity
or even
account.
provide
will definitely
a complete
help torecorded
streamline
video
event
footage
planning
of theprocesses.
you
have acquired
the funds
tothe
hire
qualified
people,
if need
Pricing
by Percentage
-Here,
charges
come
in the form
of abe.
percentage of the total budget, say about 203.330%.
How
expensive
they?on what you have negotiated with your client. This means that this approach
The
percentageare
is based
one client tofinances
the next. have to be in place. Initially, there will be several expenses, so a bank
Todiffers
start, from
the necessary
The
loan fees
mayevent
soundplanners
like a good
charge
idea.isYou
critical.
need
But
to people
invest in
don't
a high
always
speed
go computer
for the cheapest,
with internet,
because
a fax,
they
a
Pricing by Fee for Services -If there is a lot of work involved and/or your client wants to experiment, you may
might
color printer
feel theand
work
themaybe
paraphernalia
cheap too.
thatAnd
goes
they
with
would
maintaining
think twice
a steady
beforestream
going to
ofacorrespondence.
premium priced
prefer to use this method of charging. Each specific task that will need to be carried out to organize the event will
planner,
Needless
torate
say,
all
athey
mobile
phone
is
a small
is a must
party.
have.
Ideally
Foryour
transportation
pricing
should
purposes,
dependa from
van or
event
a SUV
to event
is best,and
as
have a when
set
and
anywant
other
additional
task
will
be charged
on
an hourly
rate.
depend
you will need
on time
ample
youspace.
Pricingand
by the
Commissionable
Rates
or 'Add-On's -In this approach a compensation/handling fee will be
involved
size of the event
itself.
added to all the services provided. A discount will have to be negotiated with your service providers.
4.2 How personalized can I get?
different
packages
at different
prices,
certain options
which
add-ons.
theywant
decide
3.Evaluating
competition
Remember,
you are
planning an
eventwith
for another
person, so
try tocan
justbe
runway
with Once
what you
andon
a package,
throw inthe
some
fun bouncer,
for her
wedding
car, free
article
suddenly surprise
host other
on thegoodies
day. Keep(kids
continuous
contact flower
with thedécor
host, ask
for opinions,
though
youon
know
the best
Shewould
hasto
given
thethem
job the
tohappy
you
toand
savealso
on time,
so
you
expectedaspirations
to get all theare
local
Formay
any
newspaper)
business,
for
it option.
is
free.
worthwhile
This
check
make
out
competition,
stick
so that
to you.
yourare
business
for her. Always
client
when
picking
colors
styles.
Each one
has their
favorite.
notinformation
neatly overlapping
withconsult
theirs.your
Since
it is
quite
difficult
for and
small
business
owners
to spend
too much
It is very important to build a good rapport with the client. Get to know him/her very well before starting on the
market
that
others
have not
encroached,
although
this
may not
practical
in some
cases.
job. Ask
how
she planned
events
by her own,
what she
thought
wentbe
wrong
and right.
These
are little insights
which can help you immensely in profiling your client's expectations.
Copyright
Copyright2008
2008Bizymoms.com
Bizymoms.com
12
3.14.3What
Formal
qualifications
do they
Registering
theoffer?
business
outflows
and
profits.
Registering
your
business
allows
you
to advertise
business
in public
and
also
First,
This
isfind
notout
a must
about
butthe
if you
event
areplanners
ambitious
already
and
want
operating
to move
inonyour
toyour
relatively
locality
(check
large-scale
if there
projects,
are have
similar
then
your
own
letterheads
and These
issue
invoices.
alsocan
feelto
comfortable
when it isIf athe
registered
business,
since to
it's
home-based
highly
recommended.
businesses)
and try
options
to seeClients'
are
howavailable
you
make
beginners:
a difference.
others are
not willing
of trust.
bethey
too develop
helpful aorsense
to share
information with you, maybe you can check with your friends and family for
feedback
a) University
on events&organized
College by
way, you
are
cancomprehensive
also get an idea of
programs
how muchusually
they charge
offered
for
5. Marketing
events
through
and be sure
hospitality
that your
departments
charges areinwithin
universities.
the accepted
According
Marketing
plays a crucial
role.
No matter
how good
youcourses.
are at being
event planner
or how out
competitive
204 universities
and
colleges
providing
such
It isanworthwhile
to check
whetheryou
they
are, ifcater
people
you,needs.
you
get business.
visibility
and of
awareness
is important.
Competition
to
isdon't
your
veryknow
specific
important
inwon't
business.
It givesSoyou
a pulse
the business,
the way the industry is
behaving and also how consumer preferences are changing. You can also visit many online
5.1
will
I name
the business
professional
b) What
Certificate
event
Courses
planning
and
sites
Continuing
and get some
Education
they work.
are mostly
Initiallypart-time
that you
What's
in
a
name?
More
than
you
may
realize!
Your
business
name
has
to
be
snappy,
provoking
interest
and
understand
whichthe
arebusiness
conveniently
and the
held
processes
during weekends
thoroughly.
or in
Sothe
spend
evenings,
a lot oftotime
accommodate
studying how
those
different
who
sticking
in
memory.
Truth
is the are
rightalso
name
canflexible.
maketoaevent
big difference
thesee
success
your
marketing
people
are
handle
working.
different
The
businesses.
courses
Fire
some
more
calls
plannerstoand
what of
they
ask,
how they
campaign.
The
name
is
inextricably
connected
to
the
brand
image
you
want
to
create
too.
So
you
need
to get
respondMajor
and how
event
best to
planning
impressassociations
also offer professional certification programs.
The
moreadvantage
creative than,here
let's say,
'Quality
Planners'.completion, you will be part of a wide network of
is that,
onEvent
successful
3.2 What
professionals
is uniquein
inthis
them?
field.
5.2 How will I create visibility for myself?
for yourResources
company or name
can be done
by leaflets,
and
also
to offer
makeunique
your
Once
b) Visibility
you
Physical
gather
information
from different
types
of eventbrochures
planners,etc.
you
will
seeremember
that some
presence
in others
each event
you
have.And
Outalso
your brand
andhas
contact
number
somewhere,
so people
can refer
to
things
which
don't
offer.
each name
planner
some
different
approach
and offering
which
youaif customers
they want your
services.
makes
Even
home-based
prefer
business
them.cannot
For example
be run alone.
it can be
You
where
can approach
the concept
those
andwho
the you
creative
knowidea
wellisfamily
given
free
in orderor
to where
try to find
they
people
provide
who
helpers
will be to
interested
look after
to the
join kids
you in
atthis
the line
party
of work.
for free,
Familiarity
or even
Portfolio
provide
will definitely
a complete
help torecorded
streamline
video
event
footage
planning
of theprocesses.
A
portfolio
is
another
very
handy
and
user-friendly
to show
you have acquired the funds to hire qualified people,tool,
if need
be. what you can do. The best letters of
(preferably
having surnames that are different to yours!) and photographs of events you have
3.3recommendation
How expensive
are they?
be selected and inserted here. They alone will be testimony to the good work that you have done
To organized
start, thecan
necessary
finances have to be in place. Initially, there will be several expenses, so a bank
in the past. Clients and even vendors may prefer to have a look at your achievements, rather than hear it from
The
loan fees
mayevent
soundplanners
like a good
charge
idea.isYou
critical.
need
But
to people
invest in
don't
a high
always
speed
go computer
for the cheapest,
with internet,
because
a fax,
they
a
you. A portfolio will also indicate that you are keen and serious about your work.
might
color printer
feel theand
work
themaybe
paraphernalia
cheap too.
thatAnd
goes
they
with
would
maintaining
think twice
a steady
beforestream
going to
ofacorrespondence.
premium priced
planner,
Needlesswhen
to say,
allathey
mobile
want
phone
is a small
is a must
party.
have.
Ideally
Foryour
transportation
pricing should
purposes,
dependa from
van or
event
a SUV
to event
is best,and
as
Web
depend
you will need
on time
ample
youspace.
Nowadays, the internet is a marketer's dream. You are not 'in' if you are not on the web. So have a website or a
Event Planning
Though you may start your business as a home-business, you need to register it, since there will be inflows and
webpage dedicated to your business and be sure to update information regularly. A website with outdated
information is worse than not having a website. Your portfolio can be posted online or a few choice photographs
and letters of recommendation can do the trick equally well.
different
packagescompetition
3.Evaluating
Blog
local
For any
newspaper)
business,for
it is
free.
worthwhile
This would
to check
make them
out the
happy
competition,
and also stick
so that
to you.
Perhaps one of the trendiest ways to market your services is by maintaining a blog. A blog is effective because
it's informal and provides a steady flow of fresh content. Apart from providing useful information, it gives that all
important personal touch to your business. You can use your blog as a two-way tool too. It allows the customer
to know what you can offer but also gives you insight on the customer too. This is a convenient alternative to
time-consuming market/customer research. You can very well spend the time saved on improving your
credentials.
Copyright
Copyright2008
2008Bizymoms.com
Bizymoms.com
13
Personal
interaction
Formal
3.1
What
qualifications
do
they offer?
your
spare
time.
What
their
favorite
foods,
what
aretothe
preferred
doifthey
likeare
to go
on
First,
This
isfind
notout
a must
about
butthe
ifare
you
event
areplanners
ambitious
already
and
want
operating
move
inonyour
toactivities,
relatively
localitywhere
(check
large-scale
there
projects,
similar
then
it's
home-based
highly recommended.
businesses)
andseem
tryoptions
totrivial
see are
how
available
you
make
beginners:
a difference.
If the others
areare
notplanning
willing to
holiday?
This
information These
may
at first
butcan
theyto
can
make
all the difference
when you
besocial
too helpful
share
information
with
you, maybe
you
canyou
check
yourprofiled
friendsyour
andpotential
family for
events,orinto
order
to create
the right
atmosphere.
Plus,
when
havewith
already
feedback
a) University
on events
&organized
College
by
Programsthem.
This
These
way,
you
are
canwhen
comprehensive
alsoyou
getare
an entrusted
idea of
programs
how
usually
theyan
charge
offered
for
customers,
it will save
you from having
to fire
away
questions
withmuch
managing
event.
events
through
and be
hospitality
that
your
departments
charges
areinwithin
universities.
the accepted
According
range.an
to image
Petersons.com,
there are about
Perception
willsure
surely
give
you
an edge over
your
competitors
and create
of competency.
Competition
cater to
isyour
veryspecific
important
needs.
in business. It gives you a pulse of the business, the way the industry is
If you are in the Social Events Market, then your marketing campaign should be more personal and more
emotional. Cheerful photos will boost your reputation in this field. On the other hand, if you are in the Corporate
professional
b) Certificate
event
Courses
planning
and
sites
Continuing
and get some
Education
they work.
are mostly
Initiallypart-time
that you
Events sector, play it more sedate and professional. Zoom in on your efficiency and reliability. You can also
understand
whichthe
arebusiness
conveniently
and the
held
processes
during weekends
thoroughly.
or in
Sothe
spend
evenings,
a lot oftotime
accommodate
studying how
those
different
who
attend
industry
meetings,
professional
societies
and
chamber
of
commerce
activities.
It's
about
being
in
the
peopleare
handle
working.
different
The businesses.
courses are also
Fire some
more flexible.
right
place
at
the
right
time.
respondMajor
and how
event
best to
planning
impressassociations
advantage here is that, on successful completion, you will be part of a wide network of
an event
planning
3.2Advertising
What
professionals
is for
unique
in
inthis
them?
field. business may be a more effective branding strategy, than as a way to directly
get customers. Ads in local papers, telephone directories, among others can help build name recognition.
Once
b) Direct
you
Physical
gather
information
different
event
planners,
see that some
offerevent
unique
mail
can Resources
also
be used from
to attract
new types
clients,ofalbeit
less
effective.you
Thewill
Washington
DC-based
things
which
othersThe
don't
offer.
And also
each
planner
has some
differentsection
approach
offering
which
planning
business
TCI
Companies
even
include
a “Strategy
for Success”
that and
outlines
how they
makes
Even
a customers
home-based
prefer
business
them.cannot
For example
be run alone.
it can be
You
where
can approach
the concept
those
andwho
the you
creative
knowidea
wellisfamily
given
work to make sure that every single event they handle is successful, complete with case studies about their
free
in orderor
to where
try to find
they
people
provide
who
helpers
will be to
interested
look after
to the
join kids
you in
atthis
the line
party
of work.
for free,
Familiarity
or even
most prominent.
provide
will definitely
a complete
help torecorded
streamline
video
event
footage
planning
of theprocesses.
6. Finances
3.3 How expensive are they?
does not require a high investment, but you should have an idea of inflows and outflows. When
To Event
start,planning
the necessary
finances have to be in place. Initially, there will be several expenses, so a bank
doing
events,
you
may
have
to
pay
several
advances
to supplies
and
sometimes
on internet,
thebecause
scale of
the
The
loan fees
mayevent
soundplanners
like a good
charge
idea.
isYou
critical.
need
But
to people
invest
in
don't
a high
always
speed
go computer
for thebased
cheapest,
with
a fax,
they
a
event
these
can
be
costs.
And the
client
pays
you
back
only after
event,stream
so you to
have
to managepriced
the
might
color
printer
feel
theand
work
thehigh
maybe
paraphernalia
cheap
too.
that
And
goes
they
with
would
maintaining
think
twice
athe
steady
before
going
ofacorrespondence.
premium
cash inwhen
that
period.
As want
youphone
get
and
make
name
for your
business,
you acan
start
credit
planner,
Needless
to say,
allathey
mobile
is experienced
a small
is a must
party.
have.
Ideally
Forayour
transportation
pricing
should
purposes,
depend
from
van
or
event
aasking
SUV
to for
event
is best,
and
as
depend
you
will need
on time
ample
youspace.
need
terms
from
suppliers
where to
youspend,
don't tieadditional
up cash. people you need to hire, amount of calls and traveling
Event Planning
In order to attract customer, you have to think like the customers. Find out as much about them as possible, in
6.1 Start-up costs
Therefore
the best
option
to provide
Givemarket,
the consumer
theseveral
optionexpenses.
to choose
At the outset,
depending
onisyour
business packages/options.
aspirations and the target
there will be
different
packagescompetition
3.Evaluating
Home-based businesses don't need to start out with much capital, as there are no overhead costs. But in
general expenses are likely to be incurred for the following:
local
For any
newspaper)
business,for
it is
free.
worthwhile
This would
to check
make them
out the
happy
competition,
and also stick
so that
to you.
Advertising -brochures, leaflets, business cards
not neatlyEquipment
overlapping
theirs.
it is quite
difficult for small business owners to spend too much
-PC,with
printer,
fax,Since
photocopy
machine
for on
professional
affiliations
time and Fees
money
advertising
and competing, for attention, the most sensible way is to grab a niche
Insurance -business insurance
market that
others
not encroached, although this may not be practical in some cases.
Legal
Feeshave
& Accounting
Licenses and Taxes
Office Supplies -Stationery, furniture
Payroll
Phone/Utility Bills
Miscellaneous
Copyright
Copyright2008
2008Bizymoms.com
Bizymoms.com
14
6.2What
Forecasting
business
Formal
3.1
qualifications
do they
offer? growth
You
know
there
are
140
kidsplanners
between already
the
ages
of 3-12
yearinon
old
in your
area.(check
70% of if
them
willare
havesimilar
big
First,
This
isfind
notout
athat
must
about
butthe
if you
event
are
ambitious
and
want
operating
to move
your
to
relatively
locality
large-scale
there
projects,
then
it's
home-based
highly recommended.
businesses)
These
and
tryoptions
to
are
howavailable
you
make
a difference.
If planners.
the others
arehave
not willing
birthday
celebrations.
Among
those
98see
birthdays,
25%can
willto
bebeginners:
outsourced
to event
If you
2 more to
beevent
too helpful
orintoyour
share
you, maybe
you
can
check
your
friends
family
planners
area,information
you can havewith
an approximate
idea
that
your
targetwith
should
be at
least 8and
birthdays
forfor
feedback
a)year.
University
on events&organized
College by
way, you
are
cancomprehensive
also get an idea of
programs
how muchusually
they charge
offered
for
the
eventsthrough
and be sure
hospitality
that your
departments
charges areinwithin
universities.
the accepted
According
Next is the profit you expect to have. So if a birthday costs approximately US$ 2000, you can't expect a
Competition
cater to
isyour
veryspecific
important
needs.
in business. It gives you a pulse of the business, the way the industry is
margin of US$ 1000, because it is ridiculous for the host to spend 50% more just for planning. If you want
to make US$ 300 per birthday, then you will be making US $ 2400 for a year. But remember this is without
professional
b) Certificate
event
Courses
planning
and
sites
Continuing
and get some
Education
they work.
are mostly
Initiallypart-time
that you
the expenses for equipment, furniture, utility bills, salaries etc.
understand
whichthe
arebusiness
conveniently
and the
held
processes
during weekends
thoroughly.
or in
Sothe
spend
evenings,
a lot oftotime
accommodate
studying how
those
different
who
peopleare
handle
working.
different
The businesses.
courses are also
Fire some
more flexible.
6.3
Am
I
happy
with
the
profits?
respondMajor
and how
event
best to
planning
impressassociations
Therefore,
you willhere
be leftiswith
approx.
US$ 500-1000.
Is this sufficient?
Maybe
advantage
that,
on successful
completion,
you will
be and
partmaybe
of a not,
widedepending
network of
your
expectations.
the
only way to increase the profits is to do more events per year and get
3.2on What
professionals
is uniquein
inBut
this
them?
field.
involved in larger scale events, which can give higher margins. But then again larger the event, more
Once
b) commitment
you
Physical
gather
Resources
information
from
different types of event planners, you will see that some offer unique
and
time you need
to sacrifice.
makes
Even
a customers
home-based
prefer
business
them.cannot
For example
be run alone.
it can be
You
where
can approach
the concept
those
andwho
the you
creative
knowidea
wellisfamily
given
7. Growing the business
free
in orderor
to where
try to find
they
people
provide
who
helpers
will be to
interested
look after
to the
join kids
you in
atthis
the line
party
of work.
for free,
Familiarity
or even
You may start this business as a part time activity; something to keep your mind buzzing… but it's always
provide
will definitely
a complete
help torecorded
streamline
video
event
footage
planning
of theprocesses.
good to have a direction and goals in the long term.
3.3 How expensive are they?
Vision for my business
To 7.1
start,
the necessary finances have to be in place. Initially, there will be several expenses, so a bank
You
should
develop
for
your
business.
This
should
be
short
and go
specific
and
bewith
the internet,
achievable,
yet
The
loan fees
mayevent
sound
planners
like aa vision
good
charge
idea.
isYou
critical.
need
But
to
people
invest
in
don't
a high
always
speed
computer
for the
cheapest,
because
a fax,
they
a
difficult
reach.
This
shouldcheap
be the too.
driving
force
behind
every
single
you stream
undertake.
need to priced
might
color
printer
feeltothe
and
work
the
maybe
paraphernalia
thatAnd
goes
they
with
would
maintaining
think
twice
aevent
steady
before
going to
ofaYou
correspondence.
premium
have awhen
dream
for
your
business,
only
then
would
you
know
what you
need
to
achieve
withor
each
activity.
planner,
Needless
to say,
all
athey
mobile
want
phone
is a small
is a must
party.
have.
Ideally
Foryour
transportation
pricing
should
purposes,
depend
a from
van
event
a SUV
to event
is best,and
as
depend
you will need
on time
ample
youspace.
involved
and the size of the event itself.
8. Summary
Event Planning
Then you need to anticipate how your business needs to grow. A small calculation can help you.
The most important things to remember in event planning is to make it a memorable event. The function
Therefore
the
best option
is toactivity.
provide
theevaluators
consumerof the
option
choose
should run
smoothly
with each
Andpackages/options.
at the end of the dayGive
the best
an event
aretothe
different
packagescompetition
3.Evaluating
guests or participants. So make them happy, give what they need, feel what the crowds will ask for and
give it to them, and that will be your success.
local
For any
newspaper)
business,for
it is
free.
worthwhile
This would
to check
make them
out the
happy
competition,
and also stick
so that
to you.
No part of this work may be copied or transferred in any way without expressed
written permission from Bizymoms.com
15

Event Planning Starting and Running a Home Based Event

Transcription

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