Launching Your Own Event Planning Business

by Diamond Jones

Running your own business is very rewarding and it provides anybody with self-motivation. Being your own boss means that you are in control of your own business aspects, and you can control your own way of doing things, with flexible hours. If you are confident and can own up to your own decisions, work independently, have strong decision-making skills, have the time-commitment to see things through from the beginning to the end, can remain focused on setting and achieving goals, can establish networks and business relationships, can work swiftly under pressure and stay focused while still having the passion for your career, you will be very successful in running your own business.

Launching your own business starts with an business plan which includes your business license, business name, location, type of facility required, business credentials, predicted staffing requirements and scope of service. Your business name should identify the types of services that are being offered. The type of facility required doesn’t have to be an office, boutique or studio, it could be as simple as having a room in a house or meeting at a coffee shop. Some planners may even go to the client's house to make the meeting more comfortable and convenient for the client. Your business credentials could be as simple as showing your membership status of a wedding organization that you have joined. Your business license is a fee paid to the local city jurisdiction. Certification is used to confirm that your business is safe with industry practices. Business liability insurance protects you if you are sued. Incorporating or forming an LLC protects you personally in the event you are sued. Your status as a sole proprietorship, partnership, LLC , Corporation, non profit needs legal consideration. The scope of service is determined by how specialized or generalized your services or product are.

It is common for many businesses to have a client care policy and service contract. The service contract summarizes the fee structure, product or services provided, the cancellation policy, the warranty and limitations of liability.  Some wedding and event planners choose to charge clients a flat fee while others charge 10%-25% of the total wedding budget. Either way  all expenses must be fully covered to utilize their services. It is helpful to get a pulse on the competition by knowing how many wedding and event planners are in your city and how many weddings are held in your city per year to provide an estimate of how many brides will be available for your wedding or event business. However, there are countless special events that have no statistics and there are countless opportunities so your challenge is to stand out from the crowd and market yourself effectively and think outside the box.

Some wedding seasons are slower than others due to seasonal changes and the location of the wedding. However, it doesn’t mean stop working, plenty of wedding and event planners use the off-seasons to prepare their business for the busy seasons. Special event tradeshowsl  are  a great way of launching your business, it is beneficial by helping the planners meet potential clients and network with vendors.  At a tradeshow, planners rent a booth and decorate the booth so that it will attract clients, vendors and occasionally the mediaHowever, some bridal shows are more expensive than others. If you attend and participate in a bridal show in a rustic area, it will be more affordable than attending and participating in a bridal show in a large metropolitan area.

When it comes to finding clients, it is great to have a preliminary marketing plan. Whether it’s signing up on social media (Facebook, Pinterest, Instagram, YouTube, etc.) to market your new business, joining local charity events or creating a portfolio of pictures of your wedding or event. 

Marketing materials  are a must for  launching your own business. These marketing materials include business cards, brochures, envelopes, postcards, a website and more. It is great to have a wedding planning software to stay organized, keep your bridal timelines and to stay  on track of all your  clients. With vendor information stored, the wedding planning software may also be used as a reference for other clients who may also need to use the same vendors. Building a reputation is a way of showing that you are serious about your business, this is done by joining professional local business organizations which can be found by researching online. The quicker you start up your marketing and networking, the faster your business will be ready to launch.

Having insurance is also great when considering starting up a business. A lot of wedding and event planners also have a business plan for management, and planning. Contracts are also used in the wedding and event planning business to ensure the safety of the planner, vendors and clients. Many wedding and event planners are hired because they help the clients save money when it comes to negotiating with vendors. As an entrepreneur your goal is to get well known and inspire people to recommend you.

You also must know how to communicate with others, to successfully sell yourself. While communicating with someone, giving your full attention is critical.  Always remember to make a conversation memorable when trying to convince someone to hire you. As a planner it is best to stand out from your competitors by offeringservices, that others are not offering. You have to offer a service that a bride and groom want and need, based off your knowledge and your imagination.

 It is also important to give your wedding or event packages unique names that stand out, and itemize the services that are provided to your clients. Some wedding and event planners, may also have packages created for clients who already have their wedding planned, but need some guidance, these packages are mainly called “Day Of” services. The package that the wedding and event planner utilize to plan the wedding from start to finish, is known as a “Full Service” package. An emergency kit is also great to have for any special event, The emergency kit includes all items necessary to prepare for unexpected problems. This includes a first aid kit , sewing kit, bottles of water , snacks, pain medications, sunscreen and more. Your clients will be appreciative that you had the forethought to be prepared.  

While in the process of gaining relationships with vendors, it is valuable to first do research, once you finish researching and have a list of chosen vendors, it is important to call your top chosen vendors and decide which vendor is the best for your client and your services. Secondly, it is valuable to foster teamwork, by relaying information from your vendor to the clients. Your relationship with vendors need to be fostered. Thirdly, establishing a mutually beneficial relationship with vendors are useful so they will refer business to you.

Lastly, you want to follow up with your vendors to maintain a good relationship with them, after a wedding or event and show them appreciation for working with you and be sure to thank them and  add them to your preferred vendors list to work with you again in the future.

Being a planner, comes with a lot of responsibilities but it is a rewarding career especially if you are  prepared... Helping others by creating the event of their lifetime makes this career very fulfilling. Now it’s time to fulfill your client’s dreams of their big day!