sample of business plan on event management

Event Planning Business Plan Template

Written by Dave Lavinsky

Event Planning Business Plan

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their event planning businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an event planning business plan step-by-step so you can create your plan today.

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What Is an Event Planning Business Plan?

A business plan provides a snapshot of your own event planning business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes research to support your plans.

Why You Need a Business Plan for Your Event Planning Company

If you’re looking to start an event planner business or grow your existing one you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your event planning business to improve your chances of success. Your event planning business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Event Planning Businesses

With regards to funding, the main sources of secure funding for an event planning business are bank loans, personal funding, credit cards, and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Another common form of secure funding for an event planning business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan. Venture capitalists will not fund an event planning business.

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How to write a business plan for event planning.

When you write a business plan, you should include the following 10 key aspects:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each important component of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the event planning business industry. Discuss the type of business you are operating. Detail your direct competitors. Give an overview of your target audience. Provide a snapshot of your marketing strategy and plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of business you are operating.

For example, you might operate one of the following types:

• Corporate Events : this type of event planning business caters to businesses, charities, nonprofit organizations, and the like to plan fundraisers, receptions, conventions, trade shows, competitions, award ceremonies, product launches, and other types of meetings.
• Social Events : this type of event planning business targets middle- to upper-income individuals and families to plan events such as weddings, birthdays, reunions, and other types of celebrations.
• Niche Events : some event planners specialize in just one of the above event types.

In addition to explaining the type of event planning business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new contracts, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your business structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the event planning business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the industry educates you. It helps you understand the target market in which you are operating. 

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards events that adhere to social distancing guidelines, it would be helpful to ensure your plan details what approach you would take (suggested venues, creative solutions for inclusion, etc.).

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

• How big is the event planning industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the clientele you serve and/or expect to serve.

The following are examples of customer segments: private and corporate clients, high-income households, medium-income households, engaged couples, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of event planning company you operate and the event services you offer. Clearly, businesses would want a different atmosphere, pricing, and product options, and would respond to different marketing promotions than engaged couples.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the age groups, genders, locations, and income levels of the customers you seek to serve. Because most event planning companies primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target market. The more you can understand and define these needs, the better you will do to attract customers and retain your existing customers.

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other planners and businesses that offer event planning services.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes caterers, venues, and customers planning events on their own. You need to mention such competition to show you understand that not everyone who throws a party hires an event planner each time.

With regards to direct competition, you want to detail the other businesses with which you compete. Most likely, your direct competitors will be other businesses that offer event planning services very close to your site.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What planning services do they offer (wedding planning, baby showers, birthday parties, social events, etc.)?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. 

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior event management options (e.g., more cuisine types, better venue options, etc.)?
• Will you provide event options that your competitors don’t offer?
• Will you make it easier or faster for customers to book your services (e.g., utilizing event planning software, etc.)?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an event management business plan, your marketing strategy should include the following:

In the product section, you should reiterate the type of business that you documented in your Company Analysis. Then, detail the specific products/services you will be offering. For example, in addition to designing the event, locating the venue, arranging vendors, coordinating personnel, and supervising the event, will you offer services such as catering, decor, and entertainment?

In this section, document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections, you are presenting the services you offer and their prices.

Place refers to the location of your event management business, conference centers, and/or venues in which you own and/or have a relationship. Document your location and mention how the location will impact your success.

The final part of your event planning business marketing plan is the promotions section. Here you will document how you will drive customers to your site. The following are some promotional methods you might consider:

• Social media marketing
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites 
• Partnerships with local organizations (e.g., getting on the list of recommended vendors with local venues)
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your event planner business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your event planning business such as interviewing clients, making arrangements, keeping the store/studio clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th customer, or when you hope to reach $X in total sales. It could also be when you expect to hire your Xth employee or launch in a new market.

Management Team

To demonstrate your own event planning business’ ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally, you and/or your team members have direct experience as event planners or in the industry. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in event planning and/or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you plan one event per week or several events? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 event contract, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During those 180 days, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key startup costs needed in starting or growing your business:

• Location build-out including design fees, construction, etc.
• The total cost of equipment and furnishings like decor, sound systems, etc.
• Cost of maintaining an adequate amount of supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

  Event Planning Summary Putting together your own event planner business plan is a worthwhile endeavor. If you follow the event planning sample template above, by the time you are done, you will truly be an expert. You will really understand the business, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful event planning business.

Event Planning Business Plan FAQs

What is the easiest way to complete my event planning business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Event Planning Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal is to quickly engage the reader. Explain to them the type of event planning business you are operating and the status; for example, are you a startup, do you have an event planning business that you would like to grow, or are you operating a chain of event planning businesses.

  OR, Let Us Develop Your Plan For You Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how Growthink’s business plan consulting services can create your business plan for you.   Other Helpful Business Plan Articles & Templates

How To Write a Successful Event Planning Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for event planning businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every event planning business owner should include in their business plan.

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What is an Event Planning Business Plan?

An event planning business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write an Event Planning Business Plan?

An event planning business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Event Planning Business Plan

The following are the key components of a successful event planning business plan:

Executive Summary

The executive summary of an event planning business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your event planning company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your event planning business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your event planning firm, mention this.

You will also include information about your chosen event planning business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of an event planning business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the event planning industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the customers of an event planning business may include:

• Wedding planners needing help with transportation logistics
• Conference organizers wanting assistance with on-site registration
• Caterers in need of assistance to manage the timing of service delivery

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or event planning services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your event planning business may have:

• You are the only event planner in your city with an events app that allows customers to book and manage their event logistics in one place.
• You have a team of experienced event planners who specialize in military funerals, which is a niche market.
• Your company is the go-to choice for conference organizers looking for assistance with on-site registration and event management.

This is not an exhaustive list, but it gives you an idea of the types of competitive advantages you may have.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your event planning business via a combination of these channels.

Operations Plan

This part of your event planning business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for an event planning business include reaching $X in sales. Other examples include launching a new product/service, expanding to a new market, or hiring key personnel.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific event planning industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Event Planning Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Event Planning Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup event planning business.

Sample Cash Flow Statement for a Startup Event Planning Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your event planning company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is an essential tool for any event planning company. If you are seeking funding from investors or lenders, it’s important to have a polished and professional business plan. Use the outline above as a guide as you write your own event planning business plan.   

Finish Your Event Planning Business Plan in 1 Day!

Other helpful articles.

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How To Write a Successful Wedding Planner Business Plan + Template

How To Develop a Financial Plan For An Event Planning Business

Everything You Need to Write an Effective Event Planning Business Plan

Nick Morpus

1. mission statement, 2. business structure, 3. products and services, 4. target market and marketing plan, 5. finances, examples of event planning business plans, other event planning business information.

You've gathered your resources, assessed the market, found your ideal business partners, and you're well on your way to starting your own event planning business.

But to make this business a reality, you need funding. And in order to secure funding, you need to make the case that your event management business has all the right parts in place so that once you receive funding, your business can take off.

A business plan makes that case for you by giving potential funders all of the information they need to make a decision on whether or not you are worth their time and money.

However, your business plan is not only a fundraising tool, it's also a road map you will revisit time and again for business accountability. Your business plan will help keep you on track with clearly defined goals and guidelines for your event planning firm.

I've narrowed down five key aspects of your business plan that you will have to hammer home in order to make the most effective case.

The first step to any business plan is to develop a definitive statement that lays out what your event planning business stands for and hopes to accomplish.

A good mission statement is a short (about one to two sentences) declaration of your beliefs, goals, and values as a company or organization.

Here are a few good examples of mission statements:

Leukemia & Lymphoma Society : Cure leukemia, lymphoma, Hodgkin's disease and myeloma, and improve the quality of life of patients and their families.

Make-A-Wish : We grant the wishes of children with life-threatening medical conditions to enrich the human experience with hope, strength and joy.

Sweetgreen: To inspire healthier communities by connecting people to real food.

Other questions you could answer in your mission statement include, what kind of events do you hope to host? Do you want your event planning business to remain local or would you like to see it grow and expand to other areas and states?

Your business plan can only take shape once you have the structure of your company laid out and have identified the key job roles that will serve your business. This assures potential funders that your event planning business is ready to take off and all they need to do is provide the funds that will make it a reality.

Your structure description should include:

Your role within the company

The event planning team that you've assembled along with job titles and job descriptions

What legal form your event planning business operates under ( limited liability company , and S corporation , or a sole proprietorship )

Your prospective vendors and suppliers

Your prospective clients

Not every event planning business is the same. Some cater to large corporate events, while others plan small local events such as weddings and reunions. There are many event types , big and small, such as conferences, seminars, meetings, team building events, trade shows, business dinners, networking events, product launches, and award ceremonies.

These differences in market determine the services and products offered by the event planning business in question. The big question you need to determine for your business plan is how many services you will provide in-house and how many you will have to contract out for from other vendors.

Your products and services overview should address these questions:

What types of events will you plan?

Will you provide in-house catering services or contract out for catering?

Will you provide audio/visual equipment such as lighting and speaker systems for music, or work with outside vendors?

What kind of event marketing services will you provide? Will you provide social media management?

What type of guest invitations and guest correspondence will you offer?

Do you provide venue research or will you have your own venue?

What is your target market and how do you plan on reaching the people in that market?

It's important to know your demographics when marketing your event planning services. If you are targeting weddings, women in their 20s and 30s will be your most likely demographic (however men are more involved in the process than ever ). If you want to focus on conferences and other business-related events, your marketing effort should be geared more towards corporations and nonprofit organizations.

After conducting some demographic research, it's time to put that information to use by drawing up a marketing plan for your event planning business. What will your message be? How will your message be delivered (blog posts, videos, email lists, etc.)?

Want to efficiently manage your marketing plan? You can find the best event marketing software solutions in the Capterra directory.

Marketing strategies:

Social media marketing: As of November 2016 , 69% of all Americans use some sort of social media. This number increased from 11% in 2006. Your business plan should include the steps you will take to build followers and market to customers using Facebook, Twitter, LinkedIn, Snapchat, and Instagram.

Local word of mouth: Although this shouldn't be your main marketing strategy, it's good to show how you will spread the word about your business in your local area. Plan on working with your future vendors and suppliers to spread the word about your event planning services once you've established a relationship.

Traditional marketing: Your business plan can include strategies such as radio advertising, print advertising, and other traditional techniques as long as you think they will benefit your organization and reach your target market.

Finally, your business plan should cover how you plan on financing your event planning business and what kind of revenue you expect once business starts rolling in. This is where a prospective client list will come in handy because it shows that others are willing to pay for your services.

In the finance section of your business proposal, you will list what kind of funding you've already secured (whether from a bank, a friend or family member, or your own savings) and what funding you hope to secure through your business proposal.

Also include all planned expenditures so that potential funders will know what costs to expect for putting on events, and what you will need to hire staff, buy event equipment, lease venues or maintain your own, and market your business and your events. The best way to do this is by including a budget proposal which lists all expenses and forecasted incomes.

Here is a five step guide on building your business budget  from Freshbooks and a few business budget templates to help you get started:

Vertex42 Excel Budget Business Template

Intuit Quickbooks Startup Business Budget Template

Microsoft Office Business Expense Budget

Now that you have the building blocks, here are some sample business plans that you can use as a framework:

Profitable Venture Event Planning Business Template : This template uses the fictional “Tony & Tammy House of Events LLC" event planning business to show the language you should use and information you should include in your own plan.

B Plans Personal Event Planning Business Plan Template : Similar to Profitable Venture, this template is also a fleshed out example of an event planning business plan. The only difference is they also offer an online plug-and-go template as well as writing guidance for as low as $9.95 a month.

What has been the most difficult step in starting your own event planning business? Are there any lessons you've learned? Let me know in the comment section below!

If you've drafted your business plan but are not sure what the next steps are to take, be sure to check out my guide on starting event planning businesses: The Ultimate Guide on How to Start Your Event Planning Business .

Lastly, if you are looking for new ways to step up your events, the Capterra event management blog has the resources to help you make decisions on new software, technologies, and best practices:

4 Event Mobile Apps to Increase Attendee Engagement

The Top 10 Books Every Event Manager Should Read

5 Online Event Planning Classes to Jumpstart Your Career

Top 5 Free Tools to Live Stream Your Event Online

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About the author.

Nick Morpus is a former Capterra analyst.

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Top 10 Event Management Business Plan Templates with Examples and Samples (Editable Word Doc, Excel and PDF Included)

Gunjan Gupta

Imagine, for a moment, the glitz and glamour of the 2008 Beijing Olympics opening ceremony. It was a stunning display of culture and technology that captured the world's attention. But what most of us didn't see was the extensive planning and coordination that went into creating this global spectacle. Behind the scenes, a team of dedicated event management professionals meticulously crafted every moment, ensuring that every detail, from the grandest fireworks display to the tiniest costume accessory, was executed flawlessly.

The 2008 Beijing Olympics opening ceremony is a shining example of what the world of event management is all about. It's an industry where dreams become reality, creativity meets precision, and the magic of any event, big or small, takes center stage. If you've ever dreamed of turning your passion for planning and organizing into a thriving business, you're in the right place.

We have created the ultimate Event Management Business Plan Template with 64 meticulously designed slides for you. This template is your roadmap to turning your event management dreams into a flourishing business reality. It includes everything you need to develop a solid business plan template , from market analysis and financial projections to marketing strategies and operational plans.

Let's roll up our sleeves and embark on this exciting journey to create memorable experiences and make your mark in the world of events!

Table of Contents

• Executive Summary
• Company Overview
• Industry Analysis
• Customer Analysis
• Competitive Landscape
• SWOT Analysis
• Operational Plan
• Financial Plan
• Management Summary

1. Executive Summary

The executive summary gives a concise yet engaging overview of your event planning business plan. It provides a snapshot of the crucial components of your plan and should be written last, summarizing key elements such as:

1.1 The Quick Pitch: It includes factors like:  

• Market Overview: This section provides statistical insights into the event planning market, highlighting its size, trends, and potential.
• Opportunity: Detail the opportunities in the event planning industry, such as emerging technologies, the rise of virtual events, and integration possibilities.
• Technology Integration: Discuss how technology plays a pivotal role in your business, covering aspects like event management software and digital tools.
• Virtual Events: Explain your strategy for catering to the virtual event trend, outlining the benefits and services you offer in this domain.

1.2 The Entity: Include essential information about your business entity, such as its name, date of incorporation, initial investment, physical location, web address, target market, and founder's name.

Here is a visual representing all this and more:

Download this

(Want to make your dream event a reality? Access this Event Management Business Plan Template to get started!)

2. Company Overview

Describe your event planning business's specific niche, whether it caters to corporate events, social gatherings or specializes in unique niche events. Clearly outline your target clientele for each category. Also, share the history of your business, explaining when and why it was established, as well as key milestones achieved.

Additionally, ensure your company overview has the following elements:

2.1 Mission and Vision: Outline your long-term objectives and core values that guide your operations.

2.2 Goals and Objectives: Elaborate on your business goals, both short-term and long-term, and present your strategies for achieving them. Clearly define measurable milestones.

2.3 Start-up Summary: Provide a comprehensive summary of the initial costs required to launch your business, including capital investment, equipment purchases, and operational expenses.

2.4 Market Gap and Business Statement: Explain how your business identifies and addresses gaps in the market, emphasizing your unique value proposition. Define your business's core purpose.

2.5 Products and Services Offered: List the range of event planning services and products you offer, including any additional services like catering, decor, entertainment, or technology integration.

2.6 Key Success Factors: Identify and elaborate on the critical factors contributing to your business's success, such as exceptional customer service, innovative offerings, strategic partnerships, and market knowledge.

Take a look at this graphic to know more:

(Excited to kickstart your event planning journey but need a one-pager ? Download our comprehensive business plan template now!)

3. Industry Analysis

The industry analysis section provides a comprehensive overview of the event planning industry, emphasizing the importance of market research.

Key components to include are:

3.1 Market Analysis: Present an in-depth analysis of the event planning market, covering its size, projected growth, and potential opportunities and challenges.

3.2 Market Trends: Discuss current event industry trends, including the prevalence of hybrid events, safety measures, sustainability practices, personalization, etc.

3.3 Major Challenges: Identify and analyze the significant challenges your business encounters, such as rising operational costs, stiff competition, safety, etc.

3.4 Growth Drivers: Highlight the key factors driving growth in the industry, such as technological advancements, corporate event market size, and more.

3.5 Geographical Analysis: Conduct a geographical analysis to determine how local demographics impact your target market and explore opportunities for growth within specific regions.

Observe this sample to help present your event industry analysis like a pro: 

4. Customer Analysis

Customer analysis is a crucial component of your business strategy, as it lays the foundation for understanding your audience and tailoring your offerings to meet their needs effectively.

In this section, we will delve into the key elements of customer analysis, including:

4.1 Target Market

Represent the specific group of individuals or entities you want to serve and consider factors like age, gender, location, income level, and any other relevant demographic data.

4.2 Buyer Persona

These personas are fictional depictions of your ideal customers with names, photos, motivations, and pain points. They humanize your target audience and enable you to personalize your marketing strategies. Thus, create detailed buyer personas for each customer segment for effective marketing.

4.3 Market Sizing

Estimate the size of your target market for business planning and growth. This involves analyzing national market data and local population figures to determine the potential reach of your business.

Get a visual grasp of this concept with the following representation:

5. Competitive Landscape

Delve deeper into your analysis of the competitive environment within the event planning industry. Identify and evaluate direct and indirect competitors to understand your competitive positioning comprehensively.

And don’t forget to include elements like:

5.1 Major Players

Recognize and analyze the major players who significantly impact the market. These prominent competitors often have well-established brands, extensive client networks, and a range of services.

5.2 Attribute-Based Comparison

Performing an attribute-based comparison between your event planning business and direct competitors is essential. This involves a detailed assessment of specific attributes, such as:

• Pricing: Analyze how your pricing strategy compares to that of your competitors. Are you offering competitive rates or premium services?
• Service Offerings: Compare the range of services you provide with those of your competitors. Highlight any unique or specialized services that set you apart.
• Customer Satisfaction: Collect feedback from past clients and compare your customer satisfaction ratings with those of competitors.
• Innovation: Assess your ability to adapt to industry trends and technological advancements compared to your competitors.

Take a visual look at the concept here, but before that, also look at Must-have Event Management Company Profile Templates .

6. SWOT Analysis

The SWOT Analysis is a pivotal component of your business plan, offering a comprehensive examination of your event planning company's internal strengths and weaknesses and external opportunities and threats.

So, make sure you journal it properly, as done in this visual sample by SlideTeam:

7. Marketing Plan

The Marketing Plan section is pivotal for promoting your event management business and reaching your target audience with ease. It also helps grow your business by combining the traditional four Ps: Product, Promotion, Price, and Place.

Additionally, it includes factors like:

7.1 Social Media Implementation Strategy and Promotional Strategies

Detail your social media implementation strategy, outlining how to leverage platforms like Facebook, Instagram, and Twitter to engage with potential clients.

Additionally, describe your promotional strategies, including:

• Sponsored posts and advertisements.
• Collaborations with influencers in the event industry.
• Engaging content creation to showcase your expertise.
• Running targeted online campaigns to reach your desired audience.

7.2 Pricing Strategy

Elaborate on your pricing strategy, which should align with your target market and competitive positioning. Explain how your pricing compares to competitors, emphasizing unique value propositions or pricing structures.

7.3 Sales Funnel

Outline your sales funnel, illustrating your potential client's journey from initial awareness to purchase. Highlight key touchpoints, lead generation strategies, and conversion tactics.

The following image portrays this idea:

8. Operational Plan

Outline the processes and milestones to help you achieve your short and long-term business objectives. Also, provide a detailed roadmap for how your event planning business will operate with the following attributes:

8.1 Business Milestones

Define specific milestones you aim to achieve, such as reaching a certain number of clients, expanding to new markets, or launching new service offerings. Include target dates for these milestones.

8.2 Business Model Canvas

Present your business model canvas and its key components, including customer segments, channels, value propositions, customer relationships, cost structure, and more.

To help you visualize this concept, here's a sample:

9. Financial Plan

The Financial Plan is a critical section that projects the financial performance of your event planning business over the next five years. It offers insights into the following: 

9.1 Financial Assumptions : Explicitly state the assumptions upon which your financial projections are based, such as growth rates, pricing strategies, and market trends.

9.2 Revenue Model and Sales Forecast : Detail your revenue model, including how you generate income, such as event planning fees, commissions, or additional services. Provide a sales forecast that outlines your expected revenue over the projection period.

9.3 Break-even Analysis : Demarcate the point at which your revenue equals your expenditure. This helps identify the minimum level of sales needed to cover costs.

9.4 Projected Profit & Loss Account : Present a projected profit and loss statement showcasing your expected revenue, expenses, and net income over the five years.

9.5 Projected Cash Flow Statement : Outline your projected cash flow statement, highlighting how cash moves in and out of your business. This helps ensure you have sufficient liquidity to cover expenses.

9.6 Projected Balance Sheet : Provide a projected balance sheet, offering a snapshot of your assets, liabilities, and equity at different points in time.

9.7 Scenario Analysis : Evaluate how changes in various factors, such as market conditions or pricing strategies, could impact your financial projections.

9.8 DCF Valuation Analysis : Consider performing a discounted cash flow (DCF) valuation analysis to estimate the present value of future cash flows, aiding in investment decision-making.

Looking for a better understanding of financials? Here is a slide visual to help you out: 

10. Management Summary

Highlight the strengths and expertise of your event planning business's key team members. This section plays a vital role in demonstrating your company's ability to succeed and grow. So, make sure it is well laid out with elements like:

10.1 Team Structure : Describe the organizational structure of your team, including key roles and responsibilities. Emphasize the skills and experience that make your team well-suited for the event planning industry.

10.2 Professional Summary : Provide professional summaries for each key team member, emphasizing their relevant experience, qualifications, and contributions to the business.

10.3 Roles and Responsibilities : Detail each team member's specific roles and responsibilities, illustrating how their expertise contributes to the success of your event planning business.

Here's a visual representation to clarify this:

To Conclude

After an in-depth exploration of this Event Business Plan Template, you're well-equipped to embark on your event planning journey. It's time to download, bring your vision to life, and shine in the world of events.

Your adventure begins here. Let the magic of event management commence!

P.S. Don't forget to grab more design options with 80 slides for your next big event by clicking here !

FAQs on Event Management Business Plan

1. what is an event management business plan.

An event management business plan is a comprehensive document outlining the strategy and details for launching and running an event planning or management company. It typically includes key components such as the company's mission and vision, market analysis, target audience identification, services offered, marketing and sales strategies, financial projections, and operational plans. This plan serves as a roadmap for entrepreneurs and potential investors, guiding them in understanding the business's goals, competitive landscape, and potential challenges. A well-crafted event management business plan is essential for securing financing, attracting clients, and effectively managing the business for success in the event planning industry.

2. How do you write an event management business plan?

Follow these steps to write an event management business plan: 

• Begin with an executive summary outlining your business concept and goals.
• Describe your event management company, its mission, and vision.
• Identify your target audience and competitors by conducting market research.
• Define your services, including event planning, coordination, and any specialized offerings.
• Create a marketing strategy to reach potential clients.
• Develop a pricing structure and revenue projections.
• Outline your team's qualifications and roles.
• Detail your operational plan, including logistics and vendor relationships.
• Address financial aspects like startup costs, funding sources, and financial projections.
• Include a risk analysis and contingency plan.
• Conclude with a concise summary of the plan's key points.

3. Is event management a profitable business?

Yes, event management can be a profitable business. It involves planning and executing various events, such as weddings, corporate gatherings, and conferences. With effective marketing, good client relationships, and exceptional organizational skills, event managers can generate substantial income. The profitability depends on factors like experience, reputation, and market demand, making it a potentially lucrative venture.

4. What are the 7 stages in an event management planning?

Event management planning typically involves the following seven stages:

• Conceptualization: Define the event's purpose, objectives, and target audience.
• Research and Planning: Gather information, set goals, and create a detailed plan, including budget and timeline.
• Venue Selection: Choose a suitable location based on event requirements and logistics.
• Supplier Coordination: Secure vendors for catering, decor, audiovisual, and other services.
• Promotion and Marketing: Develop a marketing strategy to promote the event and reach the intended audience.
• Execution: Manage logistics, coordinate activities, and ensure everything runs smoothly on the event day.
• Post-Event Evaluation: Assess the event's success, gather feedback, and analyze the results for future improvements.

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How to Write an Event Organiser Business Plan (With Examples)

If you’re looking to turn your event into a viable and profitable enterprise, you’ll need to devise a solid business plan. Whether your aim is making more money, securing investment and partners, or simply keeping up with your commercial goals, an event business plan is the launchpad of a successful business.

A well-written plan can be an invaluable resource for you, your team , and your event – but writing one need not be difficult. Our systematic and straightforward event business plan step-by-step guide will show you how to create one, while providing you with useful examples for budgeting and promotion that you can adapt for your particular market.

How do you write a business plan as an event planner?

From coming up with your blue-sky mission statement to the nitty-gritty details of hosting your event, there are several steps to creating a great event business plan. Read on to get our in-depth tips and examples and to find out exactly what should go into your plan.

In this article, our tips for writing an event business plan are broken down into eight sections. We’ll show you how to:

• Begin your event business plan with a mission statement
• Describe your greater vision with a vision statement
• List the key objectives you want to track
• Enhance your event business plan with storytelling
• Detail an event marketing strategy
• Outline your event’s operational requirements
• Crunch the numbers for your event budget
• Nail SWOT analysis with this business plan event example

1. Begin your event business plan with a mission statement

Your mission statement describes your event in a short sentence or two. It helps to sell your event to important stakeholders and forms the foundation of your marketing. In fact, it’ll also help to keep you focused since every decision you make will ultimately trace back to your mission.

Mercato Metropolitano (MM), a sprawling community market and event space with good food at its core, is just one example of how a simple mission statement turned into a successful real-life venture.

Andrea Rasca of MM has a simple philosophy based on food being a human right that’s part of an adequate standard of living according to the 1948 Universal Declaration of Human Rights. It sums up how MM operates as well as what it stands for:

“Adequate means food needs to be accessible to all people, at all times, and in any circumstances. It has to be nutritious – to enrich you – and it has to be locally or culturally compatible.”

This high-level mission statement sells the spirit of MM succinctly. Make yours equally inspiring, and keep it as short as possible to make it easy to keep your mission in mind. The Waste Not Supper Club , for example, summed up their mission statement – “Waste Not” – in just two words and integrated it into the name of their event.

Following a UN report urging a move to more sustainable diets, the Umbrella Cafe in Kent started running the Waste Not Supper Club to use up not only their leftover food but other people’s as well. Guests receive a three-course vegan or vegetarian evening meal at a pay-as-you-feel price. All the dishes are made from unwanted ingredients sourced by FareShare Kent , an organisation that teams up with supermarkets and local farmers to make use of their “wonky” veg and overstocked food.

2. Describe your greater vision with a vision statement

While a mission statement says what your event is about, a vision statement describes what you hope your event brand will become . It could also be known as your Big, Hairy, Audacious Goal (your BHAG ).

The Susan G. Komen Foundation uses the mission statement “Save lives by meeting the most critical needs in our communities and investing in breakthrough research to prevent and cure breast cancer.”

But the foundation’s vision is even more aspirational:

A world without breast cancer.

What’s your blue-sky vision? You might not cure cancer, but perhaps you want to eventually turn your foodie pop-up into a nationwide series of “locavore” festivals. Perhaps you want to introduce attendees to a new style of dance? Or bring art into the homes of the nation?

Brevity and clarity are also key in this section of your business plan, so you should be able to sum up your vision statement in one short sentence. For example, a lot of businesses these days want their activities to produce no carbon emissions whatsoever, so they might use a vision statement like “net-zero by 2050”.

A good way to come up with your vision statement is to ask yourself what effect you eventually want your event to have more widely. Be as imaginative as you can and also think about why you created your event in the first place. This will help you to produce evocative language, which will have a greater effect on your audience.

3. List the key objectives you want to track

Your key objectives convert your mission statement into on-the-ground action. They are realistic goals that you can achieve in the short term and in the future. Examples might include:

• Gaining a set number of followers on social media
• Expanding your event to a different area
• Pinning down a special guest to make an appearance
• Selling a certain amount of tickets for each event

Make a list of the key tasks and deliverables integral to your event. In the foodie pop-up example above, a few key objectives might be to:

• Host three foodie pop-ups in your local area this year
• Find at least ten sponsors
• – local food purveyors or restaurants
• Acquire 10,000 followers on Instagram

Make your objectives aspirational but achievable – and definitely measurable . Make records of where you currently are in regard to achieving these goals and attach metrics to each one. Eventbrite offers useful analytic data, which can be used to help you track your return on investment (ROI) and more.

4. Enhance your event business plan with storytelling

Here’s the heart of your business plan: a tangible description of your event. This is important because not only does it tell potential investors what they’re being asked to buy into but it’s also often the first (and only) chance you’ll get to grab a potential attendee’s attention online.

The key here is to provide a text that’s as informative as it is readable. Strike a balance between providing the reader with all the essential details they need, without overwhelming them with information.

Define what makes your event unique and sell your audience on your vision with data that grounds it in reality. For example, if you’ve had a high demand for tickets in the past, let the reader know how many tickets you’ve sold for your events to date.

Craft a succinct event story with our event business plan checklist:

• Describe your target audience, with research into the market
• List potential or actual sponsors, investors, and partners who will support and influence your event
• Lay out the team structure you intend to build – who will get what done?

Your job here is to convince the reader that your event will be successful. Give proof that you can back up your ideas with business acumen.

5. Detail an event marketing strategy

Word of mouth is a timeless marketing channel, but most events don’t sell themselves right away. You’ve already described your mission, your vision, and the event itself, so now you can use this content in your marketing strategy and include additional information:

How will you price your event?

Will you use a flat rate or provide an early bird option at a discount? While the latter might prove a great idea for festivals and conferences, recurring events like workshops would benefit from a different marketing approach. For example, consider providing tiered ticketing options for regular events, giving guests a choice of a standard or VIP ticket with added extras. This can create a buzz of prestige around your event.

What’s your promotion budget?

Knowing what resources you have is integral to marketing your event effectively and securing a good ROI.

Which marketing channels will you use?

Your target audience will determine the direction of your marketing channels. This includes which social media platform you choose to market your event on. For example, if your arts event caters to twenty-somethings, the highly visual environment that Instagram provides will often be a better marketing match than LinkedIn , which is more suited for specialist industry lectures and business networking events.

Making the right choice of channel means that half your work is done because your event will get more exposure to people who are already interested in your sector, generating a higher lead-to-conversion rate.

6. Outline your event’s operational requirements

There are countless logistics that go into even the smallest event. Break your needs into categories: facilities, services, staffing , production, technology, legal, and insurance – just as a starting point!

Then start to anticipate what the real implications are for your event with reference to each of these categories. Depending on your specific event, facilities might include setting up a cloakroom or the hire of portaloos, shower cubicles, or charging points. Services might include anything from catering, rubbish disposal, cleaning, or the cost of basic utilities if they aren’t included in the venue hire. Production might cover contracting performers, printing tickets or wristbands, and transport of sound equipment.

Don’t leave anything out. This exercise will help you with the next step – assigning a cost to each aspect of your event.

7. Crunch the numbers for your event budget

Financial forecasts are essential to showing whether the event will be profitable – and to making your plan a business plan. It’s common to include both an overview of your numbers as well as a full budget spreadsheet, usually as part of an appendix.

Identify all potential income streams, like ticket sales , exhibition space sales, food, or merchandise. If you have funding secured or capital saved, include that as well.

You’ll also need to tally all expenditures , including your operational and promotional costs. These might include venue and equipment hire, paying staff working at the event, and the cost of targeted ads.

Your business plan might serve as a way to win over potential investors. For instance, if your idea for a national yoga teachers’ conference will require an initial cash infusion to get it off the ground, show how it will pay for itself in a matter of years in your budget. You should go into detail about cover prices, including any deals you’ve been able to get with suppliers or the venue.

Make sure to illustrate your event’s projected earnings in a simple graph, such as a bar or pie chart. This is an effective and simple of way communicating how you’re making your budget work for you.

8. Conduct a SWOT analysis for your event

SWOT stands for strengths, weaknesses, opportunities, and threats. This assessment is important because every event carries inherent risks, and it’s a liability to ignore them. You’ll want to identify and acknowledge any risks, and then provide solutions. Let’s take a look at this concept using the example of a fundraising triathlon.

You’ve sold many tickets so far.

You’ve planned the event for the mildest time of year.

You’ve got catastrophe insurance.

There’s high competition from other similar events.

Opportunities

Extra funds can be raised with a cold drinks stall.

The triathlon may need to be called off in the event of bad weather, e.g. a thunderstorm.

Event business plan FAQs

How do i start an event organising business.

You could start by writing an event management business plan. See the above section, “Outline your event’s operational requirements,” to get an idea of what managing an event involves.

What is a business plan in event management?

A business plan is where you convince investors that your idea for turning your event into a business is not only viable but profitable. This will include presenting the necessary figures detailing why your business will offer a good ROI. Check out the sections “Enhance your event business plan with storytelling” and “Crunch the numbers for your event budget” for more tips on how to write an event planning business plan.

How do you write a business plan for an event?

The above steps in this article explain how, but try looking for an event business plan example online if you’d like to see how it’s done.

What is an event planning proposal?

A proposal is a resumé of how you plan to execute your event, written with key stakeholders as the audience.

Set your event business plan in motion

To dive deep into the details of creating an event business plan, and to learn how to compile these sections into an effective document, download our free Event Plan Template .

Plan and host your events with Eventbrite.

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about the author

Hannah Phelvin-Hartley

Hannah Phelvin-Hartley specialises in producing content for the lifestyle, education, engineering and automotive, politics, human rights and legal sectors. She can translate from Italian, Spanish and French into English. In her free time, Hannah can usually be found cooking, reading, practising Yoga and dancing.

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How to Write an Event Planning Business Plan

• Event Planning
• Retail Small Business
• Restauranting
• Real Estate
• Nonprofit Organizations
• Import/Export Business
• Freelancing & Consulting
• Food & Beverage
• Construction
• Operations & Success
• Becoming an Owner

Event planners know how important organizational skills are in planning and executing a successful event. But as an event planning business , you may be overlooking the importance of having a business plan that keeps you organized and on track in the big picture operation of your business.

What an Event Planning Business Plan Is

An event planning business plan is a document that outlines the major aspects of your business. It articulates what the business is, its objective, how it operates, the structure and other important elements.

The Need for a Business Plan

Perhaps you are just starting your event planning business and because it is so new, you then wonder if you should devote time to developing a plan. Or, you may have been operating your solo operation from your dining room table for the past several months, and everything seems to be running along just fine.

Either way, a business plan is an important component of your business. Just as you have an event planning checklist to spell out the goal of an event, the budget, the target audience and other such factors.

What to Include in Your Event Planning Business Plan

A business plan will put your objectives in writing and keep you focused on the long-term goals of your event planning business, so note the plan in as much detail as possible to ensure that when you go to actually start your business, you have already ironed out potential setbacks in the planning stage. Use your event planning business plan to keep you on track. Reevaluate your business plan every three months and determine if you need to modify anything to reflect changes in your event planning business.

• Description: The first aspect of your business plan is a description of who you are or what you want your business to be. This can be as simple as just a few sentences. For example, “ABC Event Planning is a full-service event planning business…” or “ABC Event Planning specializes in planning weddings…”.
• Objective: What is your business objective? What are the goals of your business? Are you aiming to be the top event planner in your town or do you have your sights on a loftier goal?
• Structure: How is your business structured? Are you the sole operator or do you have partners or support staff? If you have employees, outline their job responsibilities.
• Products and Services: What product or service does your business offer? Include everything from negotiating hotel contracts to hiring vendors and providing on-site staffing. 
• Target Market: Who are your potential clients?  What segment does your event planning business want to attract? Identify the people who would be interested in your services.
• Marketing: How will you market your business to attract customers? Do you have plans for a website? Will you utilize social media? Attend local business events? 
• Finances: How will you handle any upfront costs of conducting your business? How will billing and payment be processed?

What to Do Once the Plan Is Written 

Do not write out a business plan, check it off your to-do list and tuck it into a drawer. This business plan is the roadmap for your event planning business. Keep it front and center so that you never lose sight of why you started this business, what it is about, where you want to go and how you plan to get there.

Event Venue Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Event Venue Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Event Venue Plan Here

Event Venue Business Plan

You’ve come to the right place to create your business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their event venues.

Event Venue Business Plan Sample & Template

Below are links to each section of a sample plan that can be used as a template for your own plan:

Next Section: Executive Summary >

Event Space Business Plan FAQs

What is an event venue business plan.

A business plan is used to start and/or grow your venue. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan, and details your financial projections.

You can  easily complete your event venue business plan using our Event Venue Business Plan Template here .

What Are the Main Types of Event Venues?

There are many types of event venues. Some own one venue and rent it out for wedding receptions, corporate events, and other parties. Others have relationships with and rent out hotels, sports arenas, restaurants, and other venues which are desirable to their clientele.

What Are the Main Sources of Revenues and Expenses for an Event Space?

The primary source of revenue for event venues is booking fees paid by clients. Sometimes event spaces also generate revenue from catering events and providing entertainment at them.

The key expenses for event venues are the cost of leasing the venue(s) and staffing costs, particularly if they provide services during the events.

Read more about how to get funding: Seeking Funding from Angel Investors vs Venture Capitalists .

How Do You Get Funding for Your Event Venue Business Plan?

Event venues are most likely to receive funding from banks. Typically you will find a local bank and present your plan to them. Angel investors and credit card financing are other common funding sources.

What are the Steps To Start an Event Venue Business?

Starting an event venue business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An Event Venue Business Plan - The first step in starting a business is to create a detailed event venue business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your event venue business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your event venue business is in compliance with local laws.

3. Register Your Event Venue Business - Once you have chosen a legal structure, the next step is to register your event venue business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your event venue business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Event Venue Equipment & Supplies - In order to start your event venue business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your event venue business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful event venue business:

• How to Start an Event Venue Business

Where Can I Get an Event Venue Business Plan PDF?

You can download our free  event venue business plan template PDF here . This is a sample event venue business plan template you can use in PDF format.

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Here is a free business plan sample for an event venue establishment.

Have you been envisioning launching an event venue that becomes the go-to spot for celebrations and gatherings? Wondering where to start?

Look no further, as we're about to guide you through a comprehensive business plan tailored for an event venue.

Creating a robust business plan is a crucial step for any aspiring entrepreneur. It serves as a roadmap, outlining your vision, objectives, and the strategies you'll employ to turn your event space into a thriving enterprise.

To streamline your planning process, take advantage of our event venue business plan template. Our team of professionals is also on standby to review and refine your plan at no extra cost.

How to draft a great business plan for your event venue establishment?

A good business plan for an event venue must cater to the unique aspects of the event hosting industry.

Initially, it's crucial to provide a comprehensive overview of the event venue market. This should include current statistics and the identification of emerging trends within the industry, similar to what we've incorporated in our event venue business plan template .

Your business plan should articulate your vision clearly. Define your target market (corporate events, weddings, community gatherings, etc.), and establish the distinctive appeal of your venue (location, size, amenities, aesthetic, etc.).

Market analysis is the next critical component. This requires a thorough understanding of your competitors, market demands, and the preferences of event planners and attendees.

For an event venue, it is particularly important to detail the types of events you plan to host. Describe the versatility of your space, the range of services you offer (catering, audio-visual support, security, etc.), and how these services align with the expectations of your clientele.

The operational plan is vital. It should outline the location of your venue, the layout of event spaces, vendor partnerships for additional services, and the logistics of event management.

Emphasize the quality of your facilities, customer service excellence, and adherence to safety and accessibility standards.

Then, delve into your marketing and sales strategies. How will you attract event planners and secure bookings? Discuss promotional tactics, networking strategies, and client retention plans.

Incorporating digital marketing efforts, such as a professional website and active social media engagement, is indispensable in the modern marketplace.

The financial section is a cornerstone of your plan. It should encompass the initial investment, projected revenue from events, ongoing operational expenses, and the point at which you expect to break even.

Given that event venues can have variable income based on seasons and event types, it is critical to have a detailed financial plan. You can refer to our financial forecast for an event venue for guidance.

Compared to other business plans, an event venue's plan must pay special attention to booking and scheduling strategies, compliance with event-specific regulations, and the potential for high customization demanded by clients.

A well-crafted business plan will not only help you to define your operational and strategic vision but also to attract investors or secure loans.

Lenders and investors are interested in a robust market analysis, a realistic financial plan, and a clear operational strategy for managing events.

By presenting a thorough and substantiated business plan, you showcase your dedication to the success of your event venue.

To achieve these goals efficiently, consider using our event venue business plan template .

A free example of business plan for an event venue establishment

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for an event venue .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The event venue industry is a dynamic sector with significant growth potential.

Recent estimates suggest that the global event industry is valued at over 1 trillion dollars, with expectations for continued expansion as social and corporate events rebound post-pandemic.

In the United States alone, there are thousands of event venues, contributing to a substantial annual revenue within the hospitality sector.

These statistics underscore the critical role event venues play in both the social and economic landscape, catering to a diverse array of events from weddings to corporate conferences.

The event industry is witnessing several key trends that are shaping the future of event planning and management.

There is a growing emphasis on unique and memorable experiences, with venues offering immersive and interactive elements to stand out.

Sustainability is becoming increasingly important, with clients seeking venues that implement green practices and reduce their environmental footprint.

Technology integration is on the rise, with virtual and hybrid events becoming more commonplace, necessitating venues to be equipped with advanced audio-visual capabilities.

Personalization is also a significant trend, with clients desiring customizable spaces that can reflect their event's theme and purpose.

Lastly, there is a heightened focus on health and safety protocols, ensuring that venues can host events while adhering to the latest guidelines and reassuring attendees.

These trends highlight the evolving nature of the event industry and the need for venues to adapt to the changing preferences of clients and attendees.

Success Factors

Several factors contribute to the success of an event venue.

Location is paramount, as a venue that is easily accessible and well-connected can attract a larger number of events.

The versatility of the space is also crucial; venues that can accommodate a wide range of event sizes and types are more likely to be in demand.

Modern amenities and state-of-the-art facilities can set a venue apart, providing the technological support needed for today's events.

Exceptional service is a must, with a dedicated team that can assist clients in planning and executing their events smoothly.

Finally, competitive pricing and packages, along with a strong marketing strategy, are essential for attracting and retaining clients in a competitive market.

By focusing on these key elements, an event venue can establish a strong market presence and build a reputation for excellence in the hospitality industry.

The Project

Project presentation.

Our event venue project is designed to cater to the diverse needs of the community by providing a versatile space for a variety of events, from weddings and corporate gatherings to community meetings and private celebrations. Strategically located in an accessible area with ample parking, our venue will offer a modern, customizable space equipped with state-of-the-art audiovisual technology, elegant decor, and adaptable layouts to accommodate events of all sizes.

We will ensure that each event is a memorable experience by providing exceptional service, attention to detail, and a range of amenities to meet the specific needs of our clients.

Our event venue aims to become the premier choice for event planners and individuals seeking a sophisticated and flexible space that can be tailored to create the perfect atmosphere for any occasion.

Value Proposition

The value proposition of our event venue lies in its adaptability, location, and commitment to providing a seamless event experience. We offer a unique blend of elegance and functionality, ensuring that every event is not only successful but also leaves a lasting impression on its attendees.

Our dedication to customer satisfaction is reflected in our personalized service, which includes event planning support, catering coordination, and technical assistance. We strive to exceed expectations by creating an environment that is both welcoming and impressive, making every event a standout occasion.

As a hub for social and professional gatherings, our venue is committed to fostering connections and enriching the community through the power of shared experiences.

Project Owner

The project owner is an experienced event planner with a passion for bringing people together. With a background in hospitality management and a keen eye for detail, they are well-equipped to create a venue that exceeds the expectations of clients and guests alike.

Having organized numerous successful events, the owner understands the importance of a reliable and flexible event space. They are committed to providing top-notch service and creating a venue that adapts to the evolving trends and needs of the event industry.

With a strong vision for creating memorable experiences and a dedication to excellence, the project owner is the driving force behind this venture, aiming to establish a leading event venue that serves as a cornerstone for celebrations and professional events in the community.

The Market Study

Market segments.

The market segments for our event venue are diverse and cater to a wide range of events and functions.

Firstly, we have corporate clients who require professional settings for conferences, meetings, and team-building events.

Secondly, we cater to individuals and families seeking a beautiful and accommodating space for personal celebrations such as weddings, anniversaries, and birthday parties.

Additionally, our venue attracts event planners and promoters who are in need of a versatile space for hosting concerts, exhibitions, and community events.

Lastly, we serve non-profit organizations and educational institutions looking for a venue for fundraisers, galas, and seminars.

SWOT Analysis

A SWOT analysis of our event venue business reveals several key factors.

Strengths include a prime location, versatile event spaces, state-of-the-art facilities, and a strong reputation for excellent customer service.

Weaknesses might involve limited parking space, high operational costs, and the challenge of maintaining a high occupancy rate throughout the year.

Opportunities can be found in the growing demand for unique event experiences, potential partnerships with local businesses, and the ability to host hybrid events that combine in-person and virtual attendance.

Threats could include the emergence of new competitors, economic downturns affecting event budgets, and changes in event trends that require constant adaptation.

Competitor Analysis

Competitor analysis in the event venue industry indicates a competitive landscape.

Direct competitors include other local event venues, hotels with conference facilities, and specialized function halls.

These competitors vie for a share of the market by offering unique selling points such as location, pricing, and additional services.

Our competitive advantages include our flexible space configurations, cutting-edge audiovisual technology, and exceptional in-house catering services.

Understanding the strengths and weaknesses of our competitors is crucial for crafting strategies that emphasize our unique offerings and superior customer experience.

Competitive Advantages

Our event venue stands out due to its strategic location, versatile spaces that can be customized for any event, and our commitment to providing a seamless event experience.

We offer comprehensive event management services, including planning assistance, on-site support, and access to a network of trusted vendors for decor, entertainment, and more.

Moreover, our dedication to customer satisfaction ensures that every client receives personalized attention and support to make their event memorable.

We are also committed to sustainability, implementing eco-friendly practices in our operations, which resonates with clients who value environmental responsibility.

You can also read our articles about: - how to establish an event venue establishment: a complete guide - the customer segments of an event venue establishment - the competition study for an event venue establishment

The Strategy

Development plan.

Our three-year development plan for the event venue is designed to establish us as a premier location for a variety of events.

In the first year, we will concentrate on building a strong reputation within the local community, focusing on exceptional service and versatile event offerings.

The second year will be geared towards enhancing our amenities and incorporating advanced technology to cater to a wider array of events, including corporate functions and tech conferences.

In the third year, we plan to expand our marketing reach to attract national and international events, while also exploring opportunities for partnerships with event planners and local businesses.

Throughout this period, we will remain dedicated to providing an outstanding customer experience, maintaining a state-of-the-art facility, and adapting to the evolving needs of our clients.

Business Model Canvas

The Business Model Canvas for our event venue focuses on diverse customer segments including wedding planners, corporate event coordinators, and local community groups.

Our value proposition lies in offering a customizable and sophisticated space with top-notch service for any event.

We market our venue through various channels, including our website, social media, and partnerships with event planning agencies, utilizing our key resources such as our versatile event spaces and dedicated staff.

Key activities include event hosting, space design, and client relationship management.

Our revenue streams are generated from venue rental fees, in-house catering services, and additional amenities like audio-visual equipment rentals.

Our costs are mainly associated with venue maintenance, staff salaries, and marketing efforts.

Access a detailed and editable version of our Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered around showcasing the versatility and elegance of our venue.

We aim to attract a diverse clientele by highlighting our ability to tailor events to their unique needs, from intimate gatherings to large-scale conferences.

Our approach includes virtual tours, targeted social media campaigns, and hosting showcase events to demonstrate our venue's potential.

We will also establish relationships with local businesses and event planners to foster referrals and repeat business.

Engaging with our community through sponsorships and partnerships will further enhance our visibility and reputation as a top-tier event space.

Risk Policy

The risk policy for our event venue is focused on mitigating risks associated with event hosting, client satisfaction, and facility management.

We adhere to strict safety protocols and regularly review our emergency and security procedures to ensure the well-being of our guests.

We conduct routine maintenance checks to uphold the quality and aesthetics of our venue, and we have a comprehensive cost management strategy to maintain financial stability.

Additionally, we carry comprehensive liability insurance to protect against potential claims related to property damage or personal injury.

Our priority is to provide a safe, reliable, and exceptional event experience for all our clients.

Why Our Project is Viable

We are committed to establishing an event venue that stands out for its quality, flexibility, and customer-focused approach.

Given the growing demand for specialized event spaces, we believe our venue will meet the needs of various clients looking for a memorable location for their events.

We are enthusiastic about the opportunity to become a cornerstone in the event hosting community and are prepared to adapt our strategies to ensure the success of our business.

We look forward to the bright future of our event venue and the lasting memories we will help create for our clients.

You can also read our articles about: - the Business Model Canvas of an event venue establishment - the marketing strategy for an event venue establishment

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for an event venue and our financial plan for an event venue .

Initial expenses for our event venue include the acquisition or lease of a suitable space, renovations to tailor the venue to various event types, obtaining necessary permits and licenses, investing in high-quality audio-visual equipment, furniture, and decor to create a versatile and attractive setting. Additionally, costs will be incurred for brand development and targeted marketing strategies to establish our presence in the event planning industry.

Our revenue assumptions are based on a comprehensive analysis of the local market demand for event spaces, taking into account the increasing need for venues that can accommodate a range of events from corporate gatherings to social celebrations.

We anticipate a gradual increase in bookings, starting conservatively and expanding as our venue becomes more recognized for its exceptional service and facilities.

The projected income statement outlines expected revenues from event bookings, service fees, and potential partnerships with vendors, alongside expenses such as maintenance, staffing, utilities, and promotional activities.

This results in a forecasted net profit that is essential for assessing the long-term viability of our event venue business.

The projected balance sheet will display assets including property, equipment, and any improvements made to the venue, as well as liabilities such as loans and operational expenses.

It will provide a snapshot of the financial standing of our event venue at the conclusion of each fiscal period.

Our projected cash flow statement will detail the inflows from event bookings and outflows for operational costs, enabling us to predict our financial requirements. This is crucial for maintaining a healthy cash balance and ensuring smooth operations.

The projected financing plan will enumerate the sources of funding we intend to tap into to cover our initial costs, such as bank loans, investor capital, or grants.

The working capital requirement for our event venue will be meticulously tracked to guarantee that we have sufficient funds to manage day-to-day expenses, including staff wages, inventory of event supplies, and maintenance costs.

The break-even analysis for our venture will calculate the number of events and the pricing structure required to cover all our costs, including the initial investment, and to begin generating profits.

It will signal the point at which our event venue becomes a profitable enterprise.

Key performance indicators we will monitor include the occupancy rate of our venue, the average revenue per event, customer satisfaction ratings, and the return on investment to gauge the efficiency of the capital deployed in our business.

These metrics will assist us in measuring the financial performance and overall success of our event venue.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for an event venue establishment .

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Event Planning Business Plan Sample

JAN.15, 2018

Event planning business plan for starting your own agency

Are you thinking about starting an event planning business ? Well, if you have what it takes to properly plan and manage an event, you can certainly jump in this field. The biggest benefit of starting this business plan event planner is that it requires the least capital investment as compared to many other businesses. You can start a business plan for an event planner in a small office with a small team and a little inventory comprising of mostly office and stationery products.

Secondly, a  business plan for an event planner starts yielding a profit as soon as it is launched as compared to most of the businesses which need months or even years to yield the desired rate of return. Another important aspect is that, unlike other businesses, an event planning business has the least amount of risk associated with it provided that you plan and market it successfully.

So before you move on to starting this venture, you will have to prepare a comprehensive event management business plan which will establish the basis of your company’s future operations and decisions. If you are wondering how to write a business plan for event planning then here we are providing you the event management business plan company business startup named ‘Godi Events’.

Executive Summary

2.1 the business.

Godi Events will be a bonded, insured and licensed event management business plan , located in the Manhattan borough of the New York City. We aim to serve the nearby residential community and the corporate sector of Manhattan by proving them the best services for managing their important and memorable events of life.

Godi Events will be owned and operated by Anna Godi. Anna has been associated with the hospitality industry for more than 6 years. She has been working at executive positions in various event planning companies and premium brands throughout the United States to create memorable and unique events. She wanted to establish a name for herself in this industry that’s why she thought, ‘why not starting my own event planning business ’? Hence, she decided to start this venture.

2.2 Management

The main office of Godi Events will be located in Manhattan borough of the New York City. A 200 square feet office has already been acquired on lease in the center of the main commercial district of downtown Manhattan. Anna will manage the overall operations of the company while she will be assisted by some of her friends for the startup.

The success of a startup heavily depends on its staff and management. Likewise, management will play a great role in making this venture successful, so make sure to plan it before thinking about how to start a business in event planning .

2.3 Customers

Our target market is the corporate sector located in the Central Business District of the Manhattan and the community living nearby at the 10 minutes’ drive from our office. This residential community will need our services for planning and managing their weddings, birthdays, anniversaries, and parties. On the other hand, companies and businesses also need to organize work sessions, retreats, team meetings, seminars, workshops, and conferences multiple times in a year.

Our biggest competitive edge over other competitors will be our mobile app business plan which can be used for online booking, selection of food plans and venues, making payments and much more. We have strategically built this app to facilitate the ever-busy working class of the society. Our second competitive edge will be our unparalleled customer service which will be the best in town. We will treat every customer with utmost respect and make sure that they get more than what they had expected from us.

2.4 Target of the Company

The target of the company is to become the best business plan for event planning company  in the New York City within next five years of our startup. This target can only be achieved by growing the sales at the forecasted rate. We also aim to balance the initial cost of the startup with earned profits by the end of the first year, to achieve the net profit margin of $10k per month by the end of the first year, to open up two more offices in different cities of the United States by the end of five years.

Company Summary

3.1 company owner.

Godi Events will be owned and operated by Anna Godi. Anna has been associated with the hospitality industry for more than 6 years after completing her Masters in Human Resources Management from Loyola Marymount University – College of Business Administration. Since then, she has been working at executive positions in various event planning companies throughout the United States, working primarily with premium companies and brands for creating memorable and unique events.

Anna is a philanthropist and celebrated Event Planner, best known for planning some of the New York City’s most important events. Stylish and discriminating, she believes in working only with the very best. From photographers and set designers to budgeting and booking artists, she has formed an exceptionally collaborative team for her venture.

3.2 Why the event planning business is being started

Anna has always been a planner. Since her high school days, she has been planning, organizing and executing school events. Afterwards, she started her own event management business plan society in college to plan and manage the college events organized by the student body. She was born to be a planner and her planning skills are praised by all and sundry.

After completing her studies, Anna pursued her passion by serving in some of the biggest event organizers of the United States but soon she realized that she can establish her name in the hospitality business only by her own setup. That’s when she decided to start business plan event planner  completely by herself. She knows that she can bring radical changes in the hospitality industry by following her natural instincts.

3.3 How the event planning business will be started

You have to consider many aspects before you think about how to start your own party planning business . Fortunately, during her 5 years’ experience in the hospitality industry, Anna made many friends some of whom will join her in this venture and will help her through every step.

The main office of Godi Events will be located in Manhattan borough of the New York City. A 200 square feet office has already been acquired on lease in the center of the main commercial district of downtown Manhattan. The place was formerly used as an office for a small IT firm. Some changes and interior designing woodwork are also required and a contractor has been hired for this purpose.

Anna has planned everything about her event management business plan including the required personnel and inventory and has hired experts from various fields to help her craft a detailed map about it. The financial experts have forecasted following costs for expenses, assets, investment, and loans for the Start-up.

The detailed start-up requirements, start-up funding, start-up expenses, total assets, total funding required, total liabilities, total planned investment, total capital and liabilities as forecasted by experts, is given below:

Services for customers

The success or failure of a party planner business entirely depends on how it provides its services to the customers. A party plans business must be extremely customer-oriented and should provide a wide variety of services to survive in the modern day competitive environment. So before you start your own event planning business , do some research about what kind of event management business plans are most in demand nowadays. In order to excel in the competitive field of event planning, Godi Events will provide the following event planning services to its esteemed customers:

• Corporate Event Planning: We will provide a majority of services to the corporate sector. Some of those services include but are not limited to corporate event planning, corporate retreat planning, team meetings planning, training and work sessions planning, conferences and workshops planning.
• Party Planning: We will provide a majority of party planning services which include but are not limited to anniversaries planning, birthday events planning, graduation and other parties planning.
• Wedding Planning: We will also provide wedding planning services and other inclusive events such as reception and shower planning.
• Social Events Planning: We will provide a wide range of social events planning which include but are not limited to social gatherings planning, banquets and social dinners planning, award ceremonies and other similar events planning.

Our events will be completely customized, reflecting the brand personality of every client. Whether we will act for a product, a family, or a company, our work will integrate innovative designs with the finest in wine and cocktails, dining, music, entertainment and—most important of all—that intangible element of surprise.

Our group of seasoned professionals understands that breakthrough ideas are only as good as the discipline supporting them. At Godi Events we believe that there is a sublime connection between the mastery of logistics and the creation of astonishment. Specializing in the creation of exceptional events for private and corporate clients, we will design, plan and manage every project from conception to execution.

We will be responsible for planning, executing and managing everything needed to make an event successful. We pay great attention to even the tiniest bit of details as this is the key to the success of any event. Whether we are planning a company retreat, a social event or a wedding, we will be responsible for planning and managing of its every aspect such as audio / visual, budget planning, catering consultation, décor selection, entertainment, evening program, floral, guest gifts, hotel room blocks, invitations, lighting and sound, on-site management, photography, rentals, stationery, tenting, timelines, transportation, venue selection & management, videography etc.

In addition, to provide the planning services, we will also sell resource manuals and step-by-step guides. These resource manuals and step-by-step guides can be either purchased directly from our office in Manhattan or they can be downloaded from your official website by making an online payment via PayPal and Payoneer.

The resource manual is a compilation of various services providers such as caterers, decorators, bands, and disc jockeys located in the surrounding area. A ranking is given to them along with their contact details. This manual gives the client the freedom of making a choice based on experience.

Similarly, the step-by-step guides include the detailed guidelines for planning out the birthdays, meetings, retreats, parties, vacations, and special occasion celebrations such as graduations, holidays, showers, weddings, and receptions event. It will guide the readers on what is needed for and how to put together a successful, worry-free and successful event with popular refreshments, recipes, games. By using these resource manuals and step-by-step guides, anyone can easily plan the small-scale events for themselves.

Marketing analysis of business plan for event planning company

The most important component of an effective event planning business plan template  is its accurate marketing analysis that’s why Anna acquired the services of marketing experts to help her through this phase. It is only after this stage that a good event management business plan could have been developed. After identifying the local market trends in the New York City, the marketing experts and analysts also helped her to select the best site for establishing the main office of the company.

The success or failure of a event management business plan totally depends upon its marketing strategy which can only be developed on the basis of accurate marketing analysis. There are four main steps to carry out an accurate marketing analysis which are to identify the current market trends, identify your target audience and potential customers, set out the event management business plan targets to achieve, and finally set the prices of your products and services. Marketing analysis is a must-do thing before you move on to event planner business plan because the planning of many subsequent components depends on it. Therefore, it must be considered before developing a party planner business plan .

Immigration Business Plan

5.1 market trends.

The event management industry is hardly a couple of decades old and has already experienced unprecedented growth. It is estimated that it is experiencing an unprecedented growth of more than 25% per year making it one of the fastest growing industries today, along with the travel and hospitality sectors. Today, event management business plan is not just limited to planning and organization but much more.

Moreover, this industry is one of the few industries which have seen a constant increase in revenue along with the increase in business plan event planner locations with time. It has been estimated that event industry contributes more than a hundred billion dollars to the annual GDP of the United States. The number of event planners has increased exponentially over the past few years. After identifying these market trends, it is clearly evident that the party planner business plan industry is always blooming and can be immensely profitable provided you plan your business plan event planner successfully.

5.2 Marketing Segmentation

Our target market is the corporate sector located in the Central Business District of the Manhattan and the community living nearby at the 10 minutes’ drive from our office. The community consists of all types of people from varying backgrounds. As per the financial position, nearly half of the community has a monthly income ranging from $40k to $50k while nearly 10% people have incomes even around $100,000.

The corporate sector also provides many opportunities to us since the Downtown Manhattan houses many local, national and multinational businesses and companies. On average, these businesses make millions of dollars every year and can easily spend extravagantly on their events for the sake of promoting their brands. That’s why they present many prospects for event planners like us.

In order to develop a good event planning business plan sample it was crucial to analyze the market segmentation of the future customers of our services. A successful and efficient marketing strategy can only be developed after we completely know our potential customers. Our experts have identified the following type of target audience which can become our future consumers:

The detailed marketing segmentation of our target audience is as follows:

5.1.1 Corporate Sector:

The biggest consumer of our services will be the corporate sector located in Downtown Manhattan. There are hundreds of local, national and multinational businesses and companies located within 15 km radius of our office. These corporations organize company retreats once or twice a year to increase team building between their employees and to take a break from the hectic and monotonous office routine. Similarly, these companies need to organize work sessions, team meetings, seminars, workshops, and conferences multiple times in a year.

Most of these businesses make millions of dollars every year and can easily spend extravagantly on their events for the sake of promoting their brands and for entertaining their high-profile guests. They will contribute the biggest portion of our revenue and hence our marketing strategy will be specifically tailored to attract this customer group.

5.1.2 Government Institutions:

The second category comprises of various government institutions in addition to schools, colleges, and universities located in Manhattan. These institutions frequently host many public events and gatherings such as award ceremonies, educational events, conferences and seminars, alumni meet up events etc.

5.1.3 Residential Community:

The third category includes the community residing in the residential zones of the city at a 10 minutes’ drive from our office. The residential community is extremely diverse comprising of people belonging to various age groups and varying needs. This customer group will need our services for weddings, birthdays, anniversaries, and parties. As discussed earlier, we are strategically located in one of the richest neighborhoods in the United States where the residents have monthly incomes up to a hundred thousand dollars. That’s why this group will contribute the second biggest chunk of revenue after the corporate sector.

The detailed market analysis of our potential customers is given in the following table:

5.3 Business Target

We aim to become the best event planners of the New York City within next five years of our startup. Our main event management business plan  targets to be achieved as milestones over the course of next three years are as follows:

• To achieve the net profit margin of $10k per month by the end of the first year, $15k per month by the end of the second year, and $25k per month by the end of the third year
• To balance the initial cost of the startup with earned profits by the end of the first year
• To open up a second company office by the end of three years in San Francisco, and a third office by the end of five years in Los Angeles

5.4 Product Pricing

Product and service pricing is one of the most important factors in deciding the strategy for a business plan for event planning company . Selecting the price for the services is a difficult task, especially for the startups, because one has to attract customers while yielding a profit at the same time. These two things cannot be achieved at the same time and the only way out is to select a compromised trade-off or balance between the two.

After considering the market demands, we have priced all our services in the similar ranges as of our competitors. The reason behind our pricing policy is to achieve the minimum attractive rate of return which would not be possible in case of offering our services at low prices.

The strategy of business plan for event planning company

We had a great experience with ogscapital.

We had a great experience with OGScapital. They were quick, on top of the BCP, and got us exaclty what we needed. We also had an issue with completing a task in a certain time required and they were nice enough to help us out and allow us an additional week. Thank you Alex for all your help!

Like marketing analysis, sales strategy is also an important component of an event planning business . After identifying the market trends, the market demand, and the potential customers of the startup, the next step is to develop an ingenious strategy to attract those customers toward us. Anna carried out an extensive research about various marketing and advertising strategies before she moved to start a party planning business .

6.1 Competitive Analysis:

Event planning industry is one of the biggest industries of the United States contributing $115 Billion to the annual GDP of the United States. According to the US Bureau of Labor Statistics, there is over 100,000 party planner business plan  in the United States and their numbers are increasing exponentially. Likewise, there are hundreds of established event planners in the New York City that’s why we have a really tough competition ahead of us. Considering the immense competition in this field, one has to introduce something innovative before even thinking about how to start event planning business .

That’s why we have already made preparations for entering the competitive industry of event management. Our biggest competitive edge over other competitors will be our mobile app which can be used for a variety of purposes such as online booking, choosing a venue from different venues, selection of different menu plans or create a customized one for your event, selection of different activities for the event, making online payments, and much more.

We have strategically built this app to facilitate the ever-busy working class of the society. Our second competitive edge will be our unparalleled customer service which will be the best in town. We will treat every customer with utmost respect and make sure that they get more than what they had expected from us.

6.2 Sales Strategy

After carrying out a detailed analysis, our experts came up with the following brilliant ideas to advertise and sell ourselves.

• We will carry out a large-scale social media campaign for our advertisement.
• We will introduce a smartphone app which you can use for online booking, selection of food delivery by business plans and venues, making payments and much more.
• We will offer a 25% discounts on our services for the first three months of our launch.

6.3 Sales Forecast

Considering our innovative app, the quality of our services, and our unparalleled customer service, our sales pattern is expected to increase with years. By analyzing our market segmentation strategy, our experts have forecasted the following sales on a yearly basis which are summarized in the column charts.

The detailed information about sales forecast, total unit sales, total sales is given in the following table:

Personnel plan

Personnel plan, like all other plans, is an important component of an effective event planning business plan example . Its importance is due to the fact that success of any business plan event planner significantly depends upon its employees. It is never easy to estimate the number and type of staff needed for a company before it is even launched therefore it is always better to seek the help of HR experts to get through this phase. Anna acquired the services of experts to help her develop the following personnel plan for her company.

7.1 Company Staff

Anna will act as the General Manager of the company while Carl John will serve as the Chief Executive Officer of the company. The company will initially hire following people:

• 1 Accountants to maintain financial records
• 2 Sales Executives responsible for marketing and discovering new ventures
• 1 Venue coordinator to procure the venues
• 4 Decorators to decorate the venues
• 3 Caterers for preparing food for the event
• 2 Photographers to capture the beautiful moments of the memorable events of our customers
• 1 Inventory Manager to manage the merchandise needed for events
• 2 Drivers for moving the event managing team between different places
• 1 Front Desk Officer to act as a receptionist
• 1 Security Officer

To ensure the best quality service, all employees will be selected through vigorous testing and will be trained for a month before starting their jobs.

7.2 Average Salary of Employees

The following table shows the forecasted data about employees and their salaries for next three years.

Financial Plan

After deciding the strategy and personnel plan of the company, the next step is to develop a detailed map about the financial projections covering all aspects of the company. Just like the planning of other aspects, you must also prepare a financial plan before you start thinking about how to start your own event planning business . The financial plan should craft a detailed map about the cost of startup, inventory, payroll, equipment, rent, utilities and how these costs will be covered by the earned profits.

Before getting to think about starting an event planning company business plan , make sure to carry out a detailed profit and loss analysis. The Godi Events financial plan outlines the development of the company over the next three years and is specifically developed to achieve both the company’s short-term and long-term objectives.

8.1 Important Assumptions

The company’s financial projections are forecasted on the basis of following assumptions. These assumptions are quite conservative and are also expected to show deviation but to a limited level such that the company’s major financial strategy will not be affected.

8.2 Brake-even Analysis

The following graph shows the company’s Brake-even Analysis.

8.3 Projected Profit and Loss

The following charts show the company’s expected Profit and Loss situation on the monthly and yearly basis.

8.3.1 Profit Monthly

The following graph shows the monthly profit, as forecasted by the company’s financial experts.

8.3.2 Profit Yearly

The following graph shows the yearly profit, as forecasted by the company’s financial experts.

8.3.3 Gross Margin Monthly

The following graph shows the monthly gross margin, as forecasted by the company’s financial experts.

8.3.4 Gross Margin Yearly

The following graph shows the yearly gross margin, as forecasted by the company’s financial experts.

The following table shows detailed information about profit and loss, and total cost of sales.

8.4 Projected Cash Flow

The following column diagram shows the projected cash flow.

8.5 Projected Balance Sheet

The following table shows detailed data about pro forma cash flow, subtotal cash from operations, subtotal cash received, sub-total spent on operations, subtotal cash spent.

The following projected balance sheet shows data about total current assets, total long-term assets, total assets, subtotal current liabilities, total liabilities, total capital, total liabilities and capital.

8.6 Business Ratios

The following table shows data about event management business plan  ratios, ratio analysis, total assets, net worth.

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Personal Event Planning Business Plan

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Executive Summary executive summary is a brief introduction to your business plan. It describes your business, the problem that it solves, your target market, and financial highlights.">

Opportunity.

The fast pace of the world we live in leaves little time for extra things we would like to do, like plan events, parties, and social get-togethers. The demand for this service can only increase considering the rise in incomes, population, and need for interpersonal relations in the workplace.

Occasions  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,  Occasions  aims to be the number one resource for any event.

The market for event planning breaks down into wide, very diverse segments. Individuals, as well as organizations, demand the services we provide. In order to provide the greatest depth of information, we break the market segments down into private and public organizations, and age groups.

Competition

Occasions is in a unique position of competition. We compete against hotels with conference facilities, conference centers, other event planners both on the large and small scale, persons within an organization who are assigned the task of organizing an event, and people who wish to organize their own events without the benefit of assistance. The benefits and drawbacks of each of our competitors as compared with the services we offer are hardly a match in quality and price.

Occasions  is primarily a service business, we also offer products to aid our customers in planning the event themselves. Our customers get our expertise and contacts to plan their perfect party at their perfect price. 

Expectations

Tax rates are noted for information. We carry no loan burden that would be effected by these rates. What hits  Occasions  the hardest (but not nearly are bad as other service businesses), is the tax rate of 24%, which is nearly one quarter of the total sales. As  Occasions  continues to grow, these numbers will be reference rather than influence.

Financial Highlights by Year

Financing needed.

The owners  will contribute $25,000 for startup costs and salaries needed to turn this part time company into a full time supportive business 

Problem & Solution

Problem worth solving, our solution.

Our mission is to run a profitable business by providing high-end therapeutic massage and aesthetician services in a caring, upscale, professional environment. We offer massage in a variety of styles – traditional Swedish Massage, Sports Massage, Deep Tissue work, Sports Massage, Hot Stone Massage, Reflexology, and others. Our licensed aestheticians offer the latest in skin treatments, body treatments and anti-aging therapies. 

Our goal is to tailor the client’s experience based on initial interview information, as well as feedback during the treatments, to ensure the client’s comfort and satisfaction, and to increase repeat business. We are mindful of the overall experience – using only the finest oils and lotions, beauty treatments and aromatherapies. Special lighting, music, decor, and textiles are used throughout the spa to complete the comfortable, plush environment and enhance the client’s overall spa experience. 

Target Market

Market size & segments.

As individual as our clients are, they seem to fall into one of four general categories: Injury Recovery, Self-Pampering/Relaxation, Alternative Care Users,  and Athletes. Besides the obvious differences in the style of massage or treatments each of these prefer, they also represent separate groups for marketing and retention purposes.  In addition, the booming anti-aging market is an additional momentum builder.

The Injury recovery group is usually referred by a Chiropractor, self-referred through our listing on the American Specialty Health Network site, or referred by another client who found massage helpful during injury recovery. Marketing to this audience is done indirectly, through the referring parties. While car insurance will typically pay for massage for only a limited time (less than one year), many health insurance policies now have Alternative Care coverage with a renewable annual maximum. Most people do not know that regular massage therapy is covered on their insurance when prescribed by a physician. We will work to educate clients of their benefits and be able to bill to insurance on the appropriate patients. 

Clients who have the disposable income to indulge in massage and body treatments for self-pampering or relaxation are the core of our long-term repeat customers. These clients will come once a week to once a month for years, and often refer other family and friends. This type of client can be  difficult to find – an ad in the local alternative newsweekly (especially with a coupon for $5 off) or a donation to a charity auction may result in a one-time visit, or a long-term client. Another source of usually one-time visitors is the Gift Certificate – friends pampering friends for a birthday or other special occasion. Our desired location will provide an excellent demographic to provide this type of client. 

The third group are Alternative Care users. These are people who mistrust allopathic medicine, and prefer to use chiropractors, naturopaths, herbalists, and acupuncturists. A local networking group of alternative care providers is a great way to get referrals, as well as placing posters on other practitioner’s offices, and ads in the local alternative newspaper.

The final group is another backbone of this business – the amateur athletes. There is a large population of runners and bicyclists in the local area, as well as out-of-town participants who return for annual events, and book massages during those times. They are a very loyal group, and will readily give word-of-mouth recommendations, especially if they see massage as having given them a specific boost to their performance. This group will cross over from the Injury group, and become long-term clients after the specific initial injury has healed. They also tend to have chronic injuries or pain, especially as they age, which can encourage them to become repeat clients. 

Current Alternatives

We are part of the retail health and beauty industry, which has four major types:

1)  Salons with Day Spa Services:   Hair salons that offer limited spa services like massage and facials.

2)  Heath & Beauty Products:   Stores selling only merchandise products covering the wide range of products available, but not inclusive of those sold by salons and spas.

3)  Hotels with Spa Services:   Major hotels with on-site spas. 

4)  Medical Spa:   Focus mainly on non surgical cosmetic but also have massage therapy, facials and microdermabrasion.

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Our Advantages

Our competitive edge is our ability to market effectively and creatively to bring in the clients and then back that up with the best service and products in the business.  In addition, our combination of unique services, outstanding location and our interaction with the customers are setting us up for huge success. 

Keys to Success

Our keys to success are: 

• Marketing, Marketing, Marketing –  Owner is a proven, 15-year sales executive.  Marketing will be the first strength to our success and a huge competitive edge.
• Professionalism:  Which includes everything from maintaining confidentiality, to hiring the very best LMT and Aestheticians.
• Individual Attention:  Each client’s experience will be tailored to his or her preference.
• Repeat business/Recommendations:  giving the kind of service that brings people back for regular treatments, and encourages clients  to recommend us to friends, and other health professionals to recommend their clients.
• Unique Treatments:  We have the latest in techniques with the best products from around the world.
• Fantastic Location:  Freeway County.

Marketing & Sales

Marketing plan.

When marketing to individuals, the idea of releasing them from the task, freeing their time for family and friends, and the promise of a worry-free event are the buzz words and concepts. Our marketing is predominantly by word of mouth or visual connection to large events these individuals have participated in or worked at.

When marketing to public or private organizations, the idea of greater efficiency for the money and a professional event without error would be the key concept. Groups, especially large ones, do not wish to deal with problems that arise due to oversight on their part. If the guarantee of worry-free, error-free events is available at a cost benefit to them, there really appears to be no better choice.

Occasions deals with a diverse market of clients. Within each market segment, closing of sales will differ. Each approach is described as follows:

• Private and Public Organizations  Sales will be concluded one to two days after the end of the event. A follow-up phone call will be placed informing the client of the total cost, number of attendees, and information about the billing packet that will arrive at their offices. Feedback forms will be included in these packets to ensure the client is being served as they deem appropriate. Form letter thank-yous will be sent following each event.
• Individuals Sales will be concluded with a follow-up phone call one to two days after the event. The phone call will explain the total cost of the event, number of attendees, and information concerning the billing. Individual parties of any age group are placed on a billing cycle. Invoices will be sent out the 25th of the month and will be due the 10th of the following month. Feedback forms will be included in these packets to ensure the client is being served as they deem appropriate. Thank-you cards will follow each individual event.

Locations & Facilities

Occasions  is located inside the city limits of Portland, Oregon. It is a home-based business. Most meetings with clients are conducted in social settings, such as restaurants, coffee houses, the client’s home, facilities wishing to be used for the event, or over the phone. Although the demand has not yet reached its peak,  Occasions  will eventually move from its home base into a small office complex, also within the city limits of Portland, Oregon. When the company has reached its finished point,  Occasions  will have branch offices in Portland, Eugene, and Bend, Oregon, Seattle, Vancouver, and Olympia, Washington, and Boise and Sun Valley, Idaho.

The company will maintain a high degree of professionalism. All offices are equipped with the latest in business technology, such as telephone systems, computers, fax machines, email, duplicators, printers, and software. Each location will have a secure storage area for supplies and equipment used in events, such as walkie-talkies, cellular phones, portable fax machines, and laptops.

Milestones & Metrics

Milestones table, key metrics.

Key Metrics 

• # of positive customer reviews and positive customer tweets 
• # of new customers who decide to use our service 
• # of return customers and referrals 
• # of Facebook page views, Twitter re-tweets and website 
• cost of putting together the event 

Ownership & Structure

Occasions  is a sole proprietorship with the intention of selling the business when it is established to one of the employees invested in the vision of event planning. All aspects of the business will be documented to ensure clients can count on the same results every time. It is these documents that will become the basis of ownership. The sole proprietor will use his or her name as the guarantor of each service. Therefore, the sole proprietor must embody the vision and mission of  Occasions .

Management Team

The management team within  Occasions  will be small in the beginning. The primary employee is the founder, who plans events, then contracts with caterers, decorators, disc jockeys, and bands to fill out the event. A contract labor site manager will be on hand to work the events as a liaison and vendor coordinator. Thus, there are two main employees with various levels of vendors.

When  Occasions  reaches its expansion goals, each office will have one to two event planners, an office assistant, two to three site managers for the events, and a product and marketing specialist. This team will function as one with constant communication through weekly staff meetings, email, and message boards. All jobs are interrelated. The performance of one effects the performance of the others; therefore, each team member expects nothing but the best from each other.

As it functions currently, we see no gaps in the management of this organization. Should  Occasions  grow beyond its estimated size, more positions in specialized areas will need to be added as well as additional site support and office assistance. To fill these positions,  Occasions  is looking for energetic, teachable, detail-oriented persons who want the potential to grow and improve their skills within the organization.  Occasions  wants to be the best; therefore, they will hire those who want to succeed.

Personnel Table

Financial plan investor-ready personnel plan .">, key assumptions.

• Good social media and positive response. We need advocates in social media. 
• Consistent posting in Twitter and Facebook
• No surprises in economic trends
• Ability to convert some existing relationships into clients
• Home office works

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

It is the wish of the founders to remain a debt-free establishment. However, recognizing that in reality not all variables are controllable, outside financing is a viable option. Both founders own homes and have a perfect credit rating.

Stationery etc. $300

Brochures $185

Consultants $200

Insurance $145

Expensed Equipment $1,985

TOTAL START-UP EXPENSES $3,365

Sources of Funds

The business owners will contribute 25,000 to cover startup expenses and expansion. 

Projected Profit & Loss

Projected balance sheet, projected cash flow statement.

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The Department of Defense Releases the Updated Strategic Management Plan for Fiscal Years 2022 - 2026

Deputy Secretary of Defense Kathleen H. Hicks has approved the updated Fiscal Years 2022 – 2026 DoD Strategic Management Plan.

The SMP serves as the Department of Defense's strategic framework to manage strategic priorities and goals in support of the 2022 National Defense Strategy. It focuses on building enduring advantages and addressing institutional management priorities by using data-analytics to enhance oversight and reform efforts. Additionally, the SMP meets the statutory requirements pursuant the Government Performance and Results Act Modernization Act of 2010 and is published every year with the objective of articulating near-term progress on SMP implementation along with the long-term objectives the department plans to accomplish.

The SMP preparation is led by the department's Performance Improvement Officer and is developed through collaborative coordinated partnerships with the DOD components. The published SMP is reviewed as part of the annual fiscal budget process to ensure it remains aligned with achieving the strategic goals of the President's budget, the NDS, and the Secretary of Defense's priorities. For the first time, the FY2025 update to the SMP incorporates outcome-driven performance goals and measures for Military Departments to ensure that the SMP strategic framework accurately represents the work executed by the MILDEP in contribution to strategic priorities and objectives. 

The SMP includes the Annual Performance Plan and Annual Performance Report. The FY2025 APP reflects the SMP's longer-term planning outlook by linking its strategic goals and objectives to operational performance goals, measures, and targets for the upcoming fiscal year. The FY2023 APR consolidates prior year performance results across all DOD components and communicates overall implementation progress against the SMP.

The SMP strategic priorities and objectives – together with the performance goals, measures, and targets – showcase how the department intends to achieve its goals and priorities and succeed through teamwork across the defense enterprise. The FY2025 SMP focuses on five strategic priorities:

• Take Care of Our People and Cultivate the Workforce We Need
• Transform the Foundation of the Future Force
• Make the Right Technology Investments
• Strengthen Resilience and Adaptability of Our Defense Ecosystem
• Address Institutional Management Priorities

The full SMP is published online on the Performance Improvement Officer/Director of Administration and Management's performance website: https://dam.defense.gov/Performance-Mgmt/ .

You can also find it on defense.gov here .

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