Event Planning Company Business Plan Paul Graham Er Essay
Many corporations, and some members of the general public, look for these designations when hiring planners.
Because of the research and study it takes to become a CSEP or CMP, clients know that these planners are professionals.
Broadly speaking, there are two markets for event planning services: corporate and social.
The first business is homebased and has no employees.Consider getting a degree or certificate from a local university in event planning or management.A list of colleges and universities offering educational opportunities in this field is available from Meeting Professionals International (MPI).Charities and nonprofit organizations host gala fundraisers, receptions and athletic competitions, among other events, to expand their public support base and raise funds. Social events include weddings, birthdays, anniversary parties, bar and bat mitzvahs, Sweet 16 parties, children's parties, reunions and so on.Thousands of these events occur each year, and although the large ones require specialized event planning experience, you may find smaller local events to start out with. You may decide to handle all these events or just specialize in one or more of them.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.Companies host trade shows, conventions, company picnics, holiday parties, and meetings for staff members, board members, or stockholders. According to the Convention Industry Council’s 2012 Economic Significance Study, 1.83 million corporate/business meetings, trade shows, conventions, etc. The market for social events, especially birthdays and anniversaries, is expected to continue to increase over the next few years, as baby boomers mature.This group has children getting married, parents celebrating golden anniversaries, and their own silver wedding anniversaries to commemorate.The high-end business occupies 1,000 square feet of office space.The owner/manager of this business employs a full-time junior planner and a part-time bookkeeper, as well as temporary employees who handle clerical work and who may help prepare for various events.