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The hours I spent searching for an online business plan template was countless. I love how they are providing an explanation for every single step. You'll get guided from the beginning to the end. Had some questions and their support service replied and helped in less than 24 hours.
Kinda cool! Customer service was great and really no complaints. There are helpful tips provided on how to complete each section. The charts and visual sections of business plan are pretty cool addition. Overall, it's a helpful resource to aid in completing a business plan. Create an account to write your business plans. Upmetrics is loved by beginners and experts, teams and individuals. Already have an account? Log In. Event Planning Business Plan Are you thinking of starting a event planning business?
Preview Download. Preview our Eventel - event planning business plan example, Let's start writing your own business plan. It's easy and fun with Upmetrics. Use this sample plan as your guideline and start editing it right away. Click to download "Event Planning Business Plan" pdf. How you would you like to rate this template? Thank you! We have received your rating. Customize your Business Plan All businesses are different. Business Plan Software Our upmetrics business plan software can help you to customize your business plan and provides you a step-by-step guide to write your business plan.
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Share On. 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 event management industry is always blooming and can be immensely profitable provided you plan your business successfully.
The community consists of all types of people from varying backgrounds. 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.
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 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.
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. 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.
We aim to become the best event planners of the New York City within next five years of our startup. Our main business targets to be achieved as milestones over the course of next three years are as follows:. Product and service pricing is one of the most important factors in deciding the strategy for a business plan for an event planner. 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.
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.
According to the US Bureau of Labor Statistics, there is over , party planners business in the United States and their numbers are increasing exponentially. Considering the immense competition in this field, one has to introduce something innovative before even thinking about how to start event planning business.
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. After carrying out a detailed analysis, our experts came up with the following brilliant ideas to advertise and sell ourselves. 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, 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 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. The company will initially hire following people:. 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. The following table shows the forecasted data about employees and their salaries for next three years.
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 , make sure to carry out a detailed profit and loss analysis. 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. OGS capital professional writers specialized also in themes such as business plan for a funeral home , music festival business plan , wedding planning business plan , speaker business plan and many others. E-mail is already registered on the site. Please use the Login form or enter another.
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Tax rates are noted for information. We carry no loan burden that would be effected by these rates. As Occasions continues to grow, these numbers will be reference rather than influence. Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan.
Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free. Occasions 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.
Solution Occasions is an equal opportunity business making its expertise and its products available to help its customers plan their own events. Market The market for event planning breaks down into wide, very diverse segments. Competition Occasions is in a unique position of competition. Why Us? Expectations Forecast Tax rates are noted for information. Financial Highlights by Year. Start your own personal event planning business plan Start your own business plan Start planning.
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. 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. Do not write out a business plan, check it off your to-do list and tuck it into a drawer.