How To Operate A Event Planning Business

Few, if any, event planners have 9-to-5 jobs. By its very nature, event planning tends to involve evenings, weekends, holidays and sometimes even specific seasons. How much time you must commit to working will depend, once again, on the specialization you choose.

As a general rule, social events involve more weekends and holidays than corporate events do. Some areas of the country and some types of events have “on” and “off” seasons. However, no matter what your specialization (except parties for young children), you can count on working at least some evenings as you coordinate and supervise events. The planning of these developments, however, will be done mostly during business hours.

Operations
Few, if any, event planners have 9-to-5 jobs. By its very nature, event planning tends to involve evenings, weekends, holidays and sometimes even specific seasons. How much time you must commit to working will depend, once again, on the specialization you choose.

As a general rule, social events involve more weekends and holidays than corporate events do. Some areas of the country and some types of events have “on” and “off” seasons. However, no matter what your specialization (with the exception of parties for young children), you can count on working at least some evenings as you coordinate and supervise events. The planning of those events, however, will be done mostly during business hours.

Income and Billing
Marketing and ResourcesThe special events industry have grown enormously in the past decade. According to recent research conducted by Dr. Joe Goldblatt, CSEP (Certified Special Events Professional), spending for special events worldwide is $500 billion annually. Goldblatt is the founder of International Special Events Society (ISES), the founding director of the Event Management Program at George Washington University, and co-author of The International Dictionary of Event Management. “Suffice it to say, the marketplace is large enough to support and sustain your endeavor,” says Goldblatt. “If you’re working in one special events area, there are many directions in which you can expand. If you’re just entering the profession of special events, there’s a lucrative market awaiting you on many fronts.”

According to Goldblatt’s research, profits in this industry continue to rise. Just a few years ago, Goldblatt says, the average profit margin for an event planning entrepreneur was around 15 percent. His most recent studies, however, show profit margins can be as much as 40 percent. He attributes the industry’s good health to several factors, including the improved economy and the trend of corporate America to outsource their meeting planning functions.

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