Starting an Event Planning Business

How to Truly Begin Your Event Planning Career

Starting an Event Planning Business
I get asked a lot of questions from people who want to start their career in event planning; but there's one in particular that I just can't ever seem to clarify enough.

And that is, "What does it take to start my own event planning company?"

In a word? EXPERIENCE.

In a few words? If you have to ask, don't do it.

...in other words, when you have enough experience, you won't have to ask the question; you'll already know that you are ready.

Now, I know, there are dozens of websites out there that tell you, "You, too, can be on your way to starting an event planning business, TODAY! No experience necessary!"

To which I say, (pardon the French): bullhonkey.

Seriously. It makes me want to call each and every one of those places up and see if they have ever actually planned an event. Because if they had, then they wouldn't be trying to tell you that you can do this, "with no experience."

Be the Planner You Would Trust
I've used this analogy before, but it works: Would you get on an airplane with a pilot who just decided last week that he wants to be a pilot, even though he's never sat behind the controls of an airplane before? Would you trust a guy who just decided a week ago that he wants to be a surgeon, to operate on you?

Of course not. And, neither should anyone trust an event planner who's never even worked an event before.

Sure, maybe, in a long shot, it might work for a beginner party planner (for more on the difference between event planners and party planners, visit the Party Planning page).

But there is so, so, SO much more to starting an event planning business than just being good at organizing and creating pretty decor, centerpieces, and good food.

The Reality
Many people get so caught up in the "fun" side and the benefits of having your own company, that they don't think about the details. Here's a very preliminary checklist of some of the most basic elements you need to have prepared before you even think of starting an event planning business:

• Do you have a really tight, legally-binding contract for your clients?
• Do you have insurance?
• Do you have a great budget grid and accounting system?
• Do you have your EIN and a business account set up where you can float payments to vendors while waiting for payment from your clients?
• Do you know how to negotiate a hotel contract, with attrition and built-in provisions?
• Do you know how to work with entertainment riders?
• Do you know about BEOs, rooming manifests, and transportation equipment?
• Are you experienced with how to manage food allergies of your attendees?
• Do you know about quarterly payments to the IRS and the logistics of working either as a sole proprietor, an LLC, or a corporation?

And, most importantly above all - do you know enough about the industry to guarantee that your client won't sue you for misrepresentation or for a major mistake or oversight that might come from inexperience?

If you answered yes to all of the above, then perhaps you are ready. In that case, go to the Event Planning Business page to learn more about how to set up your business.

If, on the other hand, anything seemed foreign to you, then I would suggest not starting an event planning business quite yet. The number one "killer" when starting an event planning business is to get sued before you're even established. And without the proper experience and legal considerations, you are opening yourself up to ruin before you even begin.

Not only is it unethical to represent yourself as an expert when you're not, you also are more than likely to get sued before you even finish your first event. NOT a great way to start your entrepreneurial career, right?

It's ironic, really, to see how many people who will make great planners and organizers, throw all their organizing skills to the wind when it comes to planning their own career path.

You Can Have Your Own Business Someday....Just Not Yet!
There is nothing wrong with aiming to have your own event planning company, someday. It's a very admirable, and very attainable, goal. And, you can be on your own more quickly than you could in almost any other industry.

But, you do need some experience first. Depending on how quickly you learn and how much you apply yourself, you can have enough experience in 3-5 years. That may seem like a long time, but I promise you, it will fly by. During this time, you will find your answers as to what it takes to open your own event planning company.

And, many people find that they are happier in one of the endless other careers in the event planning industry, without the stress of being the main event planner. So for now, I ask that you let that end-result go. You don't need to be the head planner to enjoy working in events.

And, when you sign up, you'll instantly receive a FREE report, "25 Job Sites for Event Planners." But before you can apply for these jobs, you need to learn everything about the industry - so sign up now! You can unsubscribe at any time.

Before you know it, you'll be starting an event planning business of your own!