Starting an event planning business from home sounds unusual, doesn’t it? But, it’s becoming a thing nowadays!
So many people have started their business from the comfort of their home. If event planning is your passion, you can do it too!
We have highlighted what other remote event planners are doing nowadays. Look at these trends, and who knows, you’ll be a WFH event planner tomorrow!
A. The first step to starting an event planning business from home
Working on your skills or brushing up on your basics is extremely important. You need to know how you will explain your credibility when the time comes.
Starting an event planning business from home is still relatively uncommon. So, you will have to work hard to prove your skills.
While having previous event planning experience is great, it is not enough. It is advisable to have some valid credentials.
Remember that credibility matters a lot, especially when you’re looking to work from home.
If you are a beginner who would like to start from scratch, you’re in luck. You can check out these educational paths to event planning.
Additionally, stay updated with the seminars and trends in the event industry. One way to do that is to join our social media platforms linked in the footer.
B. Join a network of event planners
In this industry, knowing the right people goes a long way. At first, you might think it’s only for favors. But, you’re forgetting that it’s also one of the greatest ways to learn.
You can see how they’re getting great projects. Moreover, you can also see how they’re executing project ideas. This is key to starting an event planning business from home.
Since you’re not constantly on the field, this is your way to be exposed to the industry. Note down ideas, follow their customers, and keep an eye out for competition.
You don’t need to steal their customers or show them down. But, what you’re rather doing is being known among their peer and customer base. That’s how you’re going to start getting work.
If you’re finding it hard to be known amongst your peers, start by joining EventTube on LinkedIn and Instagram.
You can follow our follower base. We have ensured we maintain a very targeted following.
Additionally, you can interact with them on our posts or personally. Thank us for this cheat code later!
C. It’s better to start with a niche
Think of whether you’re good at planning a certain kind of event. For example, it could be birthdays. While starting an event planning business from home, it’s advisable to stick to a niche.
It’s a way to minimize your risks as you already know the proceedings of a certain kind of event. You already know all the vendors. It’ll also help you build credibility faster.
Having this area of specialty will help you build a name despite working mainly from home.
You can also choose a niche as per the requirement of the area. For example, if the state you’re in is lacking intimate wedding planners, it’s your cue to become one!
D. You need a team for remote event planning
Chances are that you’re doing your marketing and communications from home. But, in an off-chance where you mean 100% work-from-home, there’s a solution. You’ll need a team for this.
But don’t panic and hire too many people. You can start with just one or two trustworthy people. They’ll have to make various visits to the venue and vendors if needed.
Later on, you can hire freelancers from job marketplaces. They’re more cost-effective than full-time workers.
Note: Starting an event planning business from home might give you flexibility but don’t think it’ll be easy. It may require more coordination and communication than a regular job.
E. Create a business plan for your event planning business
Ambition is not enough for business. You also need to know how to proceed.
Your event planning business plan must include an overview of the management structure. For example, you need to know who is going to manage customer relations and the different vendors.
Since you’re working from home, you also need to have a trustworthy person on the ground to address the pre and post-event planning work. The duties amongst your team must be fairly and properly divided.
Note: You will need to do comprehensive market research to see what is expected out of event planners.
Additionally, you need to know the costs and fees of every facility you take and provide.
It would also be a recipe for disaster if you proceed without financial projections. You need to know how much profit you need to make to keep the business afloat.
Do include the probability of mishaps and sudden expenses. After all, this industry doesn’t have a reputation for going smoothly. This will help you analyze risks.
F. How do event planners structure their fees?
In many countries outside India, event planners charge an hourly fee. However, that’s not the only way to go about it.
For example, you could also charge a flat fee. The only issue with this method is that it’s hard to increase rates in the future.
One of the most recommended ways is to charge 15-20% of the total event cost as your service fee. This is fair in most cases as the event cost also often justifies the hours it takes to make the event happen.
Now, don’t think it’s all going in your pocket. The event planning fee will also include all expenses you make while giving your vendors commissions.
Your operational costs like website/social media maintenance, insurance, and advertising also exist. So ensure your service fee can cover these and still have room for profit.
Lastly, whichever method you choose to decide your pricing structure, don’t make it rigid. Make sure you keep up with the target market, your expenses, and your competition. This will help you revise your rates before it’s too late.
You can also increase the rates when you see yourself developing a good reputation in the market!
Another tip is to not prive your services too low or too high. While you should charge less ideally if you’re a beginner.
But as you grow your business, you’ll realize that people often find you less trustworthy if you don’t charge high enough.
Hold your ground with prices slightly higher than industry standards. You can also reassure your clients about not overcharging by maintaining transparency about the expenses.
G. How to register your business
Your business registration process starts with you deciding on a name for your business. For example, we chose our event planner community name as ‘EventTube’. Similarly, you’ll have to name your business to get it registered.
The registration process looks different in every state and country. The common factors include obtaining a registered business name and number. However, we have broken down the steps for our Indian event planner community.
Indian event planners can register their business with the following steps:
- You’ll have to choose whether your business is a sole proprietorship, partnership, limited liability partnership (LLP), or private limited company
- Register your chosen name for the company with the Registrar of Companies (ROC)
- Obtain a PAN (Permanent Account Number) for taxation purposes
- If your annual turnover exceeds the prescribed threshold (currently INR 20 lakhs for services), you must register for GST
- Open a business bank account in the name of your event planning business
- Get the necessary licenses for your area. For example, licenses for music and entertainment, fire safety, and food and beverage
- Get professional liability insurance to protect your business from any unforeseen circumstances or lawsuits
- Understand your tax obligations and file regular tax returns such as income tax, GST returns, and any other applicable taxes
Note: This is the standard procedure. We highly recommend you get in touch with a chartered accountant for tailored guidance.
Your skillset is primarily event planning and not law, so ask for help wherever you can. This will give your event planning business a smoother start.
While you’re in touch with a finance expert, get your contracts drafted too. You can modify these for each project you take up.
Make sure you only take up clients after signing formal contracts with them. A good event planning contract includes all terms of service, payment, cancellation, and termination.
H. Start with word-of-mouth marketing
When you’re starting an event planning business from home, you can’t expect it to take off overnight.
While you have to actively look for projects, you also need to reach out to your network. Ask people you trust, your peers, and ex-colleagues to spread the word. They should all be aware of your new venture.
Once you start taking up projects, as your new clients to spread the word too, it could be as simple as asking them to share event photos on social media with your name tagged.
I. How much money does an event planner earn?
After all your event planning expenses, you should always target a minimum of 10% profit on each event.
Since this 10% increases with scale and budget of different events, you won’t have a fixed salary.
Given it’ll be your first time starting an event planning business from home, prepare yourself for losses too.
Your first five gigs should focus on breaking even.
With this strategy, you will be able to give your clients a good deal and get a good reputation.
You can leverage your success from these events to get better deals and charge higher amounts.
Your new event planning business will take off in no time.
We love a piece of advice by Anshu Kumar, an expert event planner with over five years of experience.
“The key to success in this industry is always exceeding client expectations.”
You can simply do this by under-setting goals and giving your best to exceed them later on.
This strategy may be complex at first, but gets internalized as you continue to plan events from home.
J. Have a strong social media presence
Remote event planning doesn’t mean less work. You’ll still have to work a lot. But, most of the work will happen digitally or telephonically.
Before you start getting clients, you’ll need to start this background work of an event planning business.
You will have to start that Instagram with lots of reels. LinkedIn is also a great place to work on your online presence as an event planner.
If you can, you should also create a website. This will help bring people to your business through simple Google searches. But of course, that’ll require a skillset or a website management team.
You’ll also need to have digital business cards. This one’s a no-brainer. No matter where you work, you’ll still need to meet professional standards.
For all social media platforms and emails, you’ll need an elevator pitch. You’ll have to have emails and messages drafted that describe your services in the best way possible.
K. FAQ
1. How to start an event management business from home?
Start your own event planning business from home with a business plan. It includes your niche, target audience, and pricing. You will then have to research costs and legalities in your area. All the requirements for India are listed in this article. Then, we highly recommend that you network with other event planners and develop a marketing strategy. You should be getting your first few clients through word-of-mouth marketing and social media.
2. What is the scope of event management in India?
The event management industry in India is growing at a rate of 14% every year [Source: NIEM]. The valuation of this industry should reach 2.3 billion by 2025. This growth spurt comes after a huge loss period in the pandemic. You should definitely enter this field right now to reap the maximum benefits.
L. Underrated advice for starting an event planning business from home
You have all the technical knowledge you need to start your event planning business.
But, we can’t leave out there without this piece of advice.
Working from home has a lot of flexibility, but it also comes with challenges related to discipline.
With nobody around to call you out or give you constant reminders, you might find yourself in tricky situations.
Sometimes, you may feel like you’re doing too much, and sometimes you’ll feel like you haven’t done enough.
In such cases, you can opt for a personal assistant or lay ground rules for work-life balance.
You’ll be your own boss, and sometimes, bosses have to make some difficult decisions.
M. Ways to find event inspiration in 2024
When you work in an office setup, it is easy to become aware of ideas. But, you’ll find it hard to get inspired to do things differently.
With not many questioning your choices, you might get too comfortable. So, don’t just use your social media presence to get clients. Use it to see what others are doing too.
Use social media for what it was created—socializing. Find your ideal clients and communicate with other event planners.
You can find the latest event insights on our LinkedIn handle.
With this guide, we have tried to teach you all aspects of starting an event planning business from home. From networking to inspiration, and legalities in between, you’re now ready to start.
Don’t forget to comment your thoughts on remote event planning in the comments below.
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