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Question by vela110808: How do I go about starting a small event planning business?
I now work in the entertainment industry working as the Facilities Assistant. When it comes to planning parties and company events everyone in the office loves how the events turn out. I always get compliments on the dinner parties my husband and I have and everyone thinks I need to do a career change. I love planning social events and could really see myself planning small wedding, dinner parties, retirement dinner, anniversaries etc. but I have no idea how to start a business. If there are any entrepreneurs out there please lend some advice. Thanks in advance!

Best answer:

Answer by G-Stone
A working plan that you specifically design explores your market and your business structure. Many people skip this step, yet if you haven’t surveyed all your options, you may miss out! We like to plan and organize social events, yet the first thing to organize is your business operations. Sound unexciting? Well, perhaps—-yet put your “creative nature” aside for a minute and assume a “business” stance.

For example, do you limit it to only small events? Only parties? Will you branch out to all-occasion events? You may only want to target one service area, yet branching out into other avenues (i.e. sales) may assist in producing additional revenue for you. Does your targeted market call for a specialized coordination? Do you want to set up a small store front? Do you go into partnership with a friend or family member or go solo? How will your set up your business records? These are a few things I have on a very long list to consider when developing your working plan. Your “hobby turned business” must turn a profit or why do this? Thinking like a “business-minded” person, channels your goal which is – making money with your talents. Every town has a need and the trick is to find what is needed and be the best. Find your place in this growing market. The idea is to find the niche in the market for your area that has a gap. If children’s birthday parties are in need of someone to offer this as a service, then that might work best. Perhaps you desire to be the coordinator for Open House Celebrations, Ribbon Cutting Ceremonies for new businesses or even Note Burning Ceremonies when the debt is being paid off. You can work with the visitor’s bureau in your area and make contact with businesses and non-profit organizations. How about catering a chocolate fountain or “candy store” with several crystal bowls full of candy only be be scooped up with a silver scoop! But most important of all is look into a Solid business plan in that field from a book store like Borders and get tips from a mentor in the business and live the dream girl the only person standing in your way is you )

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