Party Planners – Make Your Party a Definite Success
Definition and Nature of the Work
Party planners conceive, organize, and execute special affairs such as corporate receptions, weddings, birthday parties, anniversaries, and bar and bat mitzvahs. They custom design an event to suit their customers’ needs and budgets.
Party planners, sometimes called party consultants, assume various responsibilities depending on their clients’ requests. They begin by meeting with customers to determine the type of party they would like to host and the amount of money they wish to spend. Party planners listen to clients’ ideas and also make their own suggestions. Next they visit the site chosen for the event and take pictures, measure the space, and draw up floor plans. This information is key to transforming the site to suit the occasion.
Choose a name for your business
- Be creative but within reason. A name has to tell your potential clients exactly what your company does. That’s why you should pick an unambiguous one.
- Think ahead. Use who.is to check a domain’s availability for a potential trademark.
Register your new business if necessary
Check laws to determine if your event planning business at home requires any type of licensing or permits or registration.
Set up your office at home
You’re home based office must be comfortable.
Devices. You’ll definitely need a computer/laptop, a printer, phone, a missile launch base (just kidding). You’ll figure out what you need as you’re doing your business. So, relax. Cross that bridge when it comes.
Make a list of your party planning services.
- Booking of the venue
- Sending invitations
- Selecting caterers
- Selecting music and DJ
- Booking cameramen and videographers
Well, this is an interesting part. Price setting is a challenge. A strategic approach is a must.
There are three main things you have to take into consideration:
- Typical rates for your location
- Your experience/level of expertise
- Type of charges (strict per hour basis or adding markup fees)
The Price Is Right: Turning a Profit in the Event Planning Business
Before you can begin planning an event, you have to know exactly what your clients want and what they can spend. Then you estimate how much it will cost to contract for labor and supplies, add your commission and present the total fee for services to the client as an estimate. Below are some possible per-event expenses:
- Site rental. Depending on the event, site rental fees can be considerable, nonexistent or anywhere in between. This is an opportunity for you to save money for a client on a tight budget. Perhaps a client wants a scenic summer barbecue. A site at a public beach can often be reserved for practically nothing while tony beach-side clubs often command premium prices.
- Vendors. This category could include a caterer, bartender, decorator, florist, photographer, entertainer or videographer, among others.
- Supplies. Any supplies not provided by vendors or the client will need to be purchased by your company. This can include anything from food to potted trees to table candles.
- Equipment rental. You may need to rent audiovisual or lighting equipment.
- Licenses and permits. Some types of events require special permits or licenses, such as a fire marshal permit or a license to use a musical score.
- Transportation and parking. If the event requires you or your staff to travel or requires the provision of transport for attendees or speakers, there may be significant transportation costs.
- Service fees and gratuities. Hiring temporary help, such as servers, for the event can be costly.
- Speakers’ fees. Conferences and other educational or commemorative events often involve speakers.
- Publicity and invitations. A large event may be heavily advertised, but even smaller events might entail the use of fliers. Invitations are also frequently necessary.
- Mailing and shipping. If you’re mailing out invitations or fliers, don’t forget this expense. Some event planners even ship flowers.
- Photocopying and preparation of registration materials. Any handouts for attendees or photocopying of fliers fall under this category.
- Signage. Any signs or banners designed for the event should be figured into your per-event expenses.
Know Your Audience:
Depending on your organization’s goal, you need to identify your target audience and their needs. Once you selected your target audience, figure out where to find them and determine how you will reach them. Do you have a long enough list of prospects or you need to search outside?
There are many ways to reach to your prospects and generate more audience and potential clients. Email marketing, telemarketing, social media, Search Engine Organic and Pay Per Click are the things to consider, again depending on your target audience some will be more effective than others.
Having all information about your audience will also help you determine the type of events you need to host.
Starting a parting planning business offers many perks including:
- Can be started with little investment
- No formal training is required
- You can start from scratch or invest in a franchise event business opportunity
- Can be run from home
- Ideal for people who are outgoing and enjoy working with others
- Doing business with people and businesses out to have a good time
- Job variety
- Potential new clients at every event
- A six-figure income with the right clientele