Event Planning Company Business Plan

Event Planning Company Business Plan-24
Broadly speaking, there are two markets for event planning services: corporate and social.

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Consider getting a degree or certificate from a local university in event planning or management.

A list of colleges and universities offering educational opportunities in this field is available from Meeting Professionals International (MPI).

Also consider working to become a CSEP (Certified Special Events Professional) or CMP (Certified Meeting Planner).

These designations are given out by ISES and MPI, respectively.

Both owners will derive their income from pre-tax net profit.

Annually, these businesses will gross ,000 and 0,000, respectively.Charities and nonprofit organizations host gala fundraisers, receptions and athletic competitions, among other events, to expand their public support base and raise funds. Social events include weddings, birthdays, anniversary parties, bar and bat mitzvahs, Sweet 16 parties, children's parties, reunions and so on.Thousands of these events occur each year, and although the large ones require specialized event planning experience, you may find smaller local events to start out with. You may decide to handle all these events or just specialize in one or more of them.Related: How to Start a Business With (Almost) No Money This question actually breaks down into two questions: What kinds of events are we talking about? Now we move to the second question: What is event planning?Planners of an event may handle any or all of the following tasks related to that event: How many of these activities your business engages in will depend on the size and type of a particular event, which will, in turn, depend on the specialization you choose."If you're working in one special events area, there are many directions in which you can expand.If you're just entering the profession of special events, there's a lucrative market awaiting you on many fronts."According to Goldblatt's research, profits in this industry continue to rise.Companies host trade shows, conventions, company picnics, holiday parties, and meetings for staff members, board members, or stockholders. According to the Convention Industry Council’s 2012 Economic Significance Study, 1.83 million corporate/business meetings, trade shows, conventions, etc. The market for social events, especially birthdays and anniversaries, is expected to continue to increase over the next few years, as baby boomers mature.This group has children getting married, parents celebrating golden anniversaries, and their own silver wedding anniversaries to commemorate.Just a few years ago, Goldblatt says, the average profit margin for an event planning entrepreneur was around 15 percent.His most recent studies, however, show profit margins can be as much as 40 percent.


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