Events planning business plan pdf

While for Windows users, there are more choices than that for mac users, here we recommend Readiris 16 for Windows, as many users do.

The great part of using a PDF Converter OCR, is, you can basically create your own plans basing on a PDF template, even extract contents from scanned or image plans to refine your own business plans.

You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your event planning business.

These steps will ensure that your new business is well planned out, registered properly and legally compliant. A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns.

A few important topics to consider are:. An event planning business can have a fairly low overhead for start-up. If you are based from home, you will avoid rent and utilities costs. Other costs will include:. Re-stocking supplies, employee payroll and replacing damaged or broken equipment constitute much of the ongoing expenses.

Other expenses can include:. Your target market will consist of clients wanting either social or corporate event planning. Event planners make their money from the service fees, paid by the client, for the planning and operations of the event. Profit margins depend on the size and number of events you pick up per year. As the event planning business becomes well-established, you may consider adding additional services, such as catering, bartending, or even photography to your customer options.

By supplying in-house hospitality services, you are able to offer clients a full-service experience and, in turn, create more business revenue. Choosing the right name is important and challenging. If you operate a sole proprietorship, you might want to operate under a business name other than your own name. Visit our DBA guide to learn more. The most common business structure types are the sole proprietorship, partnership, limited liability company LLC , and corporation.

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your event planning business is sued. Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services. You can choose to hire a registered agent or act as your own.

You will need to register for a variety of state and federal taxes before you can open for business. Depending on which business structure you choose, you might have different options for how your business will be taxed. There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

When your personal and business accounts are mixed, your personal assets your home, car, and other valuables are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil.

Additionally, learning how to build business credit can help you get credit cards and other financing in your business's name instead of yours , better interest rates, higher lines of credit, and more. Recommended: Read our Best Banks for Small Business review to find the best national bank, credit union, business-loan friendly banks, one with many brick-and-mortar locations, and more.

When it comes to establishing your business credit, net vendors are considered the way to go. The term 'net,' which is popular among vendors, refers to a business credit arrangement where the company pays the vendor within 30 days of receiving goods or services. Net credit terms are often used for businesses that need to obtain inventory quickly but do not have the cash on hand.

This is how businesses build business credit so they can qualify for credit cards and other lines of credit. Recommended : Read our guide on the best net vendors so you can start building business credit now, so you never have to worry about cash flow in the future. Keep in mind that poor cash flow is the 1 reason businesses fail!

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down. Certain state permits and licenses may be needed to operate an event planning business. Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses.

Event planning businesses should require clients to sign a services agreement before starting a new project. This agreement should clarify client expectations and minimize risk of legal disputes by setting out payment terms and conditions, service level expectations, and intellectual property ownership.

Here is an example of one such services agreement. Recommended: Rocket Lawyer makes it easy to create a professional service agreement for your event planning business when you sign up for their premium membership. Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. There are several types of insurance policies created for different types of businesses with different risks.

Recommended: Learn what business insurance for your Event Planning Business will cost. Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website. Marketing and promotion of your business will rely on highlighting your business strengths or areas of focus.

You will also rely heavily on the success of past events and the positive words or recommendations of prior clients. Consistently use social media outlets to supply pictures and video of your events as well as connect and network with prospective clients and related professionals.

You will also need a website for your business. By linking to your site, you can give clients more information about your specialties. And, once they are on your website, they can contact you for additional questions and to book you for events. Providing a professional level of service and an impeccable relationship for giving the customer what they want is key.

People are buying a service from you, for a particularly important event. Still unsure about what kind of business you want to start? Need an account? Click here to sign up. Download Free PDF. Business Plan on Event Management. A short summary of this paper. Download Download PDF. Translate PDF. Friends Event Management, The Event Planning Specialists, brings to the community of Dhaka a new breath of air in the event planning market.

By combining old fashioned values, going the extra mile, and using cutting edge event-planning software, Friends Event Management will lead the market, providing the same quality results, every time.

Friends Event Management is an equal opportunity business making its expertise and its products available to help its customers plan their own events. Party Packs complete kits for their event , make hosting a party a snap, right down to the refreshments.

The event planning software brings interactive event planning as close as their personal computer. Through these and other affordable products and services, Friends Event Management aims to be the number one resource for any event. In this whole business plan we describe our industry as well our aim to choosing this business. We also broadly determine our service and facilities we provide to our client.

We charge our client at a very cost effective margin hence they will always getting satisfied with our service. We also provide our marketing plan, development plan and operation plan to this paper work. We try to determine our breakeven analysis hence we are proud to say that we can recover our initial investment within the first year of operation. To start a new business we must analyze its related industry. As we want to do business as an event management business firm, we must analysis its industry, trends, participant and prospect of this business in Bangladesh.

There are few recognized event management organizations in the country. These firms are devoted exclusively to the show business events. But, the corporate market for event management has mostly been unexplored. Although there is a demand for specialized event management organizations, there is few such organizations that cater solely to this demand.

The advertising firms made the most of this circumstances, as they took up event management as a very profitable side business. Unitrend, Andes, and Asiatic EML can be recognized as major players in the industry of event management. By this analysis we found a very little growth in this industry, though it has a very good potential in doing well in Bangladesh in upcoming year.

But most of the people associates with this sector encourage people to adopt this business with having some experience. In this industry people are encouraging to come especially youth have a very much passion over this business industry. So people can easily enter this industry. By analyzing all of this we refer event management as a business we can do in Bangladesh. Though most of them provide services to both individual and corporate client.

As we adopt this business, our aim is to satisfy both individual as well as corporate clients through our quality services. And most importantly satisfy your client through quality services. Our keys to success include the commitment to quality by every person who is part of the team. As Bangladesh economy is growing more big events will organize by corporate house and individual people are want and willing to make their events more lucrative.

So demand for this business services will increase and more event management company will join together to booming this industry. In many survey reports shows that it will be one of the growing business in upcoming years. So we can assume a bright future and long run prospect of this business. PART-II 2 Company Description In company description we provide our organization overall assessment in brief to aware our reader what our organization is and what is its mission and legal formation and so on.

Why Choose Event Management Business As we observing our business world, and event management business is trending all over the world. This idea has come over our mind as we see lots of international and national event on TV as well as on our personal appearance in different events which encourage us to choose this as our business. Moreover in this industry is small enough currently where we have to face less competitors.

So assuming all this thing we think this is the business we can choose as our own business and thus the idea of Friends Event Management turn into our business goal. Vision Friends Event Management initiates its dedication to serve the community with quality services and set an example of professionalism and moral business practices in the industry.

The vision of Friends Event Management is positioned towards becoming the market leader in event management through hard work and commitment, maintaining the leadership and carrying the flag of uncompromising quality into the unforeseen future with constant value addition and a strong line of innovation.

The following products are tools used inside our operation for the best possible results: 1. Party Pack The Party Pack is a complete kit for any party. It includes decorations, lighting effects guide, disposable theme cameras, cutlery, plates, napkins, cups, punch mix or recipe , snack supplies or recipe , tablecloths, theme music where applicable , invitations, thank-you cards, and a step-by-step guide to planning, putting together, and hosting the event.

Step-by-Step Guides These booklets include a calendar to map out the event, a step-by-step guide on what is needed for and how to put together a successful, worry-free event, resource information, popular refreshments with recipes, games, and tips to put their event in the record books.

The events available include birthdays for all ages, meetings, retreats, parties, vacations, and special occasion celebrations such as graduations, holidays, showers, weddings, and receptions. Resources Manual This valuable guide acts as a review for all the resources located in the surrounding area.

A ranking is given to the various services, such as caterers, decorators, disc jockeys, bands, and facilities. This manual gives the client the freedom of making a choice based on experience. Friends Event Management provides event planning in a wide range of applications. We guarantee satisfaction in the areas of appearance, performance, and taste. The following is a sampling of the types of events we will plan every year: 1. Meetings, Trainings, and Retreats.

Conferences and Workshops. Birthdays, Anniversaries, Graduations and Holidays. Weddings, Receptions, and Showers. Company picnics, banquets, and award ceremonies.

Friends events management will do and take every possible initiative to recover its investment through providing its variety range of services to its potential client and earn a moderate profit margin from every events it organize. Friend event management also want to celebrate its first anniversary as high profitable organization and want to expand its market all over Bangladesh.

But in near future ownership will change as per necessity. It has also aim to turn into a company under company act Friends Event Management will be a service oriented company that is the firm will provide intangible goods or perform useful labor on behalf of another person. For the purpose of registration the entrepreneur must acquire the following licenses. Whereas the industry analysis focuses on the industry that a firm will participate in i. In this part we segment our market and select our target market.

We also analysis our possible competitors. The huge market out there has not been explored yet. This market can be distributed into three major segments. The corporate clients are located in Gulshan, Dhanmondi and Motijheel — which will be the key area of attention while conducting the marketing accomplishments. As a result, they have less time to spend on social affairs like marriages, get together or a may be a birthday party for the children, or concert and other family function as well as social functions.

These people make up the non- corporate client segment of the event management market. Each year the Bangladesh Government hosts a variety of programs. Which firm will be in care of these programs are decided by tenders. Organizing and time management. Being highly organized allows you to quickly find anything that you need, whether it is an email you received a year ago or a contract that you signed yesterday.

A time management plan can help you to break down large goals into smaller ones, which results to it being easily achievable tasks and forces you to complete those tasks on schedule.

Negotiation and budget management. When it comes to negotiating, there is nothing wrong with asking your client. You need to know exactly what you need so, when you make an appointment, be prepared with your data and reports to back up your statements. Conduct your own research as well to get to know more about the budget of your client. Focus on your strengths or what you can offer because most planners experience more demands of their time. On the other hand, budget management is the process of tracking and managing income and expenses.

This involves conscious decision making about allocation of money such that expenditures do not exceed the income. If in any case resources are not enough, an individual with ideal budgeting skills shall be able to focus and prioritize the spending on the things that are most important. Creativity, marketing, public relations, and more. Creativity helps develop new ways of improving and developing an existing product or service to boost the business.

This allows planners to think outside the box and beyond the traditional solutions making it an opportunity to new, interesting, potential yet adaptable idea to come up.

Another factor that helps the success in the business is Marketing. This refers to all activities an event planner does to promote and campaign about the services. While in Public Relations, it is a strategic communication that builds mutually beneficial relationships between organizations.

This build bridges of goodwill, understanding, and awareness between a company and the public that wishes to influence. It depends on the nature of the event but ideally, there should be months to plan. Most convention, meetings, and event planners work full time, and many work for more than 40 hours per week. They often work longer hours to finalize preparations as the major event approaches. Check your account statements. Pinpoint your money habits by taking inventory of all of your accounts, including checking your account and all credit cards you have.

Looking at your accounts will help you identify your spending habits. Categorize your expenses. You may start by grouping your expenses. There are some credit cards that automatically tag your purchases in categories like automotive or department store. Your spending will consist both fixed expenses and variable expenses.

The fixed expenses are less likely to change from month to month. They include mortgage or rent, insurance, utilities, and debt payments. You will have more room to adjust variable expenses like food, clothing, and travel. Make use of budgeting or expense tracking app. Budgeting apps are designed for money management, allowing to allocate a certain amount of spendable income each month depending on what you are taking in and what you are paying out.

It is never too soon to start! The time to plan events differs from a few weeks to years.