Home Based Business – Event Planner
06. Jan, 2010 
51 Comments
Event planning is probably for you if you are detail orientated, love to organize events, great at marketing, and like to be around people. All you need is the right kind of office equipment, some business contacts and clients and you can be off to a great start with your own home based business in event planning.
Event Planner
Many companies, families, and firms do not have the time to put together events; so that is where you come in with your skill. Event planning can be narrowed down to the following (but not limited to): Party planner, wedding planner, and corporate event planner. The planner must be knowledgeable about the event and make it stand out, as this is why they hired you. A quality event can justify your cost as well as a return call or referral. It would help to have experience with marketing, accounting, sales and management. It is not necessary to have a degree, however, it wouldn’t hurt to attend classes and receive a certification to enhance your skills and stay current. This is actually a fun home based business if you love organizing and planning; however, don’t think that it is always fun and full of roses. This occupation requires much patience and aggressiveness. If things don’t go right at the last minute—everyone will be looking to you to fix it. If you are a perfectionist, like myself—you will be disappointed many times—especially in the beginning as you are learning your suppliers/vendors and trying to create a niche. This will take some time, but with experience—any beginners mishaps will be slim and few.
Organizing your Event
You will start off with getting your clients expectations and then you will need to decide if it is do-able or not. If it’s not—you need to be able to sell why it’s not and try to give some solutions. You would then get your list of trusted suppliers/vendors and organize the event within the agreed timeframe. Finally, after the event is complete—you will need to get an evaluation from your client and ask if it can be published on your website representing your home based business. You can place this in your portfolio as well.
Start up costs
This really depends on what you already have to get started. Just like many home businesses, you will need a computer/laptop, liability insurance, mobile phone, website, business cards, 800 phone number possibly and advertisements placed in the newspaper and yellow pages. Your start up costs can be approximately $3,000 or below. Of course there are other factors to consider that are related to this cost; your location, taxes, setting up a business entity, advertisements, attorney advice, and what kind of equipment you end up purchasing.
Marketing / Target Market
Of course I always choose word of mouth marketing to be the best method—especially in this type of business. Along with word of mouth, you can create business cards, brochures, and a website in order to get the word out about your home based business. It would help to create a collection (portfolio) or sample of all the events you have organized so you can better market your abilities. Along with marketing your services, you have to stand out with everything you do to create that professional image. Everything from your website to your business cards to the way you look has to portray you as professional. Another great way to advertise would be to join a local network group.
Your market will include either social (birthday parties, weddings, receptions, baby showers, family reunions, anniversaries, family vacations, and much more; or corporate (product promotion, concerts, charities, fundraisers, political parties, corporations, company trips, etc.) You should always be researching your event, which should include (vendors, suppliers, etiquette for that event, and location).
Earning Potential
Of course with any home-based business out there, the big payoff comes only after investing your time up front. Get it planned out appropriately, take the necessary steps to market yourself and you will eventually see over six figures…possibly within 3 to 4 years. But this is all up to you and how much work you put into it in the beginning. Once you get up and rolling and have created a substantial portfolio, you can always make some passive income by writing and publishing your own book. This will not only create income but it always creates publicity for these types of home businesses.
What should I charge?
This part is so critical. Don’t sell yourself short. You have to look at factors such as, location, the demand, your experience/qualifications, etc. You can either charge by the hour, percentage of the total budget, or by your own fee schedule of services.
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It is a real home based business, you are different from others. Most of people who try to run business from home are trying to do “Online Home Based Business. Anyway, I will keep following your blog more often.
You are correct Agel2Home. There are so many things that people can do when they are home. Like I said in another post, I started my own new construction cleanup business while being at home with the children. I guess it’s all about what you are comfortable with and what you have time to do. I believe that most people do online home based businesses because it doesn’t take as much overhead or finances, which is much to consider if you are living off of a budget. I do wish you well and appreciate your comment!
How do you come up with all of this? You must have some good foundation on the subject right?
Adolf,
It’s a combination of research, working from home, and a business degree. I truly enjoy working from home, nothing beats it to me. Thanks for the comment!
The point is you have to work very hard. Not only good management skill but also the marketing plan. How to advertise about your business. If you can do everything by yourself. Your are great home based business owner.
You are right about that. Sometimes working for yourself means longer hours and up past midnight (especially in the beginning). Hard work most definitely pays off. But not only hard work–but a consistent effort. Sometimes these efforts aren’t seen in the beginning and that’s why you have so many people failing and giving up. Great comment.
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Very interesting read. Thanks.
Thank you Cherlyn! I appreciate the feedback. Hope to hear from you again.
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Luigi,
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