Event planning businesses
500 ss opportunities iption on the next to articles to add them to your to start an event planning your party experience to good use by planning, designing and throwing events for private and corporate clients. Here's how the storm helped create our 's note: this article was excerpted from start your own event planning business (entrepreneur press, 2015). 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. 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. What's insideintroductiontarget marketstartup costsoperationsincome and billingmarketing and resourcesmore articles on event planning »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. 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. Since you're not some tech startup bidding for programmers, you can get started without a lot of d: how to start a business with (almost) no moneywhat is event planning? Question actually breaks down into two questions: what kinds of events are we talking about? Generally speaking, special events occur for the following purposes:celebrations (fairs, parades, weddings, reunions, birthdays, anniversaries)education (conferences, meetings, graduations)promotions (product launches, political rallies, fashion shows)commemorations (memorials, civic events)this list isn't an exhaustive one, but as the examples illustrate, special events may be business related, purely social or somewhere in we move to the second question: what is event planning? Planners of an event may handle any or all of the following tasks related to that event:conducting researchcreating an event designfinding a sitearranging for food, decor and entertainmentplanning transportation to and from the eventsending invitations to attendeesarranging any necessary accommodations for attendeescoordinating the activities of event personnelsupervising at the siteconducting evaluations of the eventhow many of these activities your business engages in will depend on the size and type of a particular event, which will, in turn, depend on the specialization you do people hire event planners? Question has a simple answer: individuals often find they lack the expertise and time to plan events themselves. Independent planners can step in and give these special events the attention they becomes an event planner? Business owner martin van keken had a successful catering company before he decided to plan entire events. This explains why planners often not only coordinate entire events but may, in addition, provide one or more services for those planners may also have started out planning events for other companies before deciding to go into business for themselves. Joyce barnes-wolff planned in-house events for a retail chain for 11 years and then worked for another event planning company before striking out on her ng certifiedconsider getting a degree or certificate from a local university in event planning or management. Also consider working to become a csep (certified special events professional) or cmp (certified meeting planner). Because of the research and study it takes to become a csep or cmp, clients know that these planners are corporate marketbroadly speaking, there are two markets for event planning services: corporate and social. Charities and nonprofit organizations host gala fundraisers, receptions and athletic competitions, among other events, to expand their public support base and raise funds. 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 's insideintroductiontarget marketstartup costsoperationsincome and billingmarketing and resourcesmore articles on event planning »companies host trade shows, conventions, company picnics, holiday parties, and meetings for staff members, board members, or stockholders. Social marketsocial events include weddings, birthdays, anniversary parties, bar and bat mitzvahs, sweet 16 parties, children's parties, reunions and so on. You may decide to handle all these events or just specialize in one or more of 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 much money will you need to start your event planning business? It will also depend, to a lesser degree, on your own taste and lifestyle in mind that while working from home will keep your costs low, you can't start any but the smallest of event planning business on a 's insideintroductiontarget marketstartup costsoperationsincome and billingmarketing and resourcesmore articles on event planning »this chart lists the startup costs for two hypothetical event-planning services. 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. In the social events industry, planners typically receive a fee for their services, plus a percentage of some or all vendor fees. In the corporate events industry, however, planners typically charge a fee for their services, plus a handling charge for each item they contract. Another possibility is a flat fee, or "project fee," often used when the event is large and the corporation wants to be given a "not to exceed" phic location. In addition, areas of the country that have well-defined on- and off-seasons base their prices partly on which season they're ence and reputation of the event planner. If you're just starting out in the industry, it's reasonable to charge less for your planning services while you gain , you may ask, are the above-mentioned fees-for-service calculated? Event planners we interviewed price their fees-for-service (the total cost to the client) using a "cost-plus" method. They contract out the labor, supplies and materials involved in producing an event and charge their clients a service fee of about 10 to 20 percent of the total cost of the event, with 15 percent being a rough ing and advertising covers a broad range, from a free—or inexpensive—yellow pages advertisement to an ad in a glossy national publication costing tens of thousands of dollars. These are good vehicles for promoting your event planning business if you plan to do any wedding 's insideintroductiontarget marketstartup costsoperationsincome and billingmarketing and resourcesmore articles on event planning »dallas planner david granger agrees.
A distinctive card or brochure sent to a mailing list or to local businesses may attract new clients. A website on the internet may allow you to attract customers unresponsive to other forms of cesassociationsconvention industry councilinternational special events societymeeting professionals internationalnational association of catering executivesprofessional convention management associationmagazines and publicationscorporate meetings and incentivesthe meeting professionalspecial events magazinemeetings and conventionssuccessful meetingstrade show executive magazinetravel weeklybooksart of the event by james monroe and robert katesbecome an event planner: the three necessary steps to begin your event planning career by sirena evansthe business of event planning: behind-the-scenes secrets of successful special events by judy allenevent planning: the ultimate guide to successful meetings, corporate events, fundraising galas, conferences, conventions, incentives and other special events by judy allenthe complete idiot’s guide to meeting and event planning, second edition, by robin craven and lynn johnson golabowskipocket idiot’s guide to choosing a caterer by phyllis cambria and patty sachsspecial events: creating and sustaining a new world for celebration by dr. Joe goldblatteducational opportunitiesconvention industry councilgeorge washington university tourism and hospitality managementinternational special events societyevent planning softwarethere are hundreds of types of event planning software, ranging from inexpensive and basic packages to software developed for planning and managing large-scale conventions and trade shows. Check out capterra for a complete breakdown of top event management software products like eventbrite, regpack, grenadine events, simpletix, and many ad will close in 15 seconds... Login clicking "create account" i agree to the entrepreneur privacy policy and terms of management ultimate guide on how to start your event planning ra event management software logy and software resources for event planning ultimate guide on how to start your event planning hed april 25th, 2017 morpus in event management often have those moments where we realize what we are doing currently is not what we want to do with the rest of our two years ago, i worked in political journalism, writing about current events and lending my views to editorial columns. So after a period of searching, i discovered capterra, and subsequently, an enjoyment in writing about event management software. It took time, planning, and unlike starting an event planning to start your event planning same goes for those looking to start their own event planning business. There are steps you have to follow, lessons you must learn, and planning that must be done in order to make your new business idea a reality. Ve composed a nine-step list on how to start your very own event planning business, from ideation to execution. Identify whether your skills are right for event planning requires a very specific personality: one that is outgoing, social, and creative enough to tackle the forever-shifting tasks needed plan a successful you are better suited working behind a desk with little customer engagement, then event planning is not right for you. Finally, if on-the-spot creative thinking is not your strong suit, then your ambitions might be a better fit r, if client-facing work excites you, if teamwork contributes to your happiness, and if a fast-paced work environment fits your pace, managing an event management company might be the perfect business for you. Obtain like any other industry, prior experience is essential to starting a successful event business. If not, then why should someone trust you with their events if you have no professional experience or certifications of your own? Investing your retirement and family time into starting an event planning business, consider the many certification courses out there to prepare you for all of the ins-and-outs of event if you have previous experience organizing events for a company, organization, or local group, it is always best to have some formal certification which solidifies your experience for clients. Not to mention, there is always something new to y, i have already compiled a list of five quality event planning certification classes that will help give you the experience and credibility that you need:1. Special events institute: event planning s and elements events/ courses will help you know what to do when things go right and when things go wrong. Now that you know all there is to know about event planning, it’s time to decide whether you want to do general event planning or select a niche market to target. Identify your target you begin building your event planning business, it is also important to decide on its focus. Some businesses do industry-agnostic event planning, whereas others capture a niche market, such as corporate events or wedding ing to entrepreneur, there are four types of events:Celebrational: these events are festive and exciting. Includes conferences, meetings, ional: these events are a mix of the first two, combining festivities with information. Examples include product launches, political rallies, fashion orative: finally, these events are formal yet are meant to remember important figures and events with memorial services and civic advice would be to start with a niche and expand outward to other event types, so as not to overextend your resources too soon. General event planning demands more experience, staff, and resources due to the vast differences in these types of example, if white collar events are more suited to your style, then start with educational events. You should build your business, your clients, your resources, and your staff around the needs of white collar event you find yourself on solid ground within your niche with room to expand, then that is the time to do so. Develop your business that you’ve established what your niche will be, it’s time to start laying the foundational work for your event planning business, which includes your business plan. You will describe your event planning business, what makes your event planning business different (aka your secret sauce), and why your business will of this as the facebook profile of your business. Your company overview will include your company’s location, name, when it was formed, what type of event planning business it is, and in what legal form (like a limited liability company, s corporation, or sole proprietorship). Surveys and studies conducted by major event planners have conducted plenty of research into this subject. Take the opportunity to further explain your market will you reach out to clients and vendors once your event planning firm is open for business? Go over promotion plans for all outlets, including digital marketing, local press, and traditional e milestone goals, planning ideas, and structural organization in a detailed overview of how your event planning business will operate. Once your event planning business ready to launch, how do you plan to keep consistent revenue? Be sure to include estimates of consumer demand for your services, competitive pricing, and what regular expenses you might have such as catering and asset appendix includes all spreadsheets, flowcharts, schedules, and graphs which explain projected income, current balance sheets, and all other data-driven event business plan is a living document that will be edited many times over; be sure to revisit it when variables and factors change. Tackle the legal side of your you set up your business plan, focus on the legalities of running a er your event planning business in whatever state you reside in, obtain all necessary business licenses, cover workers compensation insurance for your staff, and general liability insurance is also a ering your business online with state and federal permits do i need for my event or wedding planner business? Types of insurance a small business owner should ’t let legal tedium prevent you from being thorough. Preventing a lawsuit or a government investigation is far cheaper than the fees (often costing more than $50,000) associated with breaking the law, even if you’re missing something as benign as a zoning permit. If they are interested at all, they will have plenty of only do traditional funding options apply for your newly created event management business, but there are also options such as crowdfunding over the internet, which lets anyone become an investor into your company.
As stated earlier, since your company will be a localized business (at least at first), if you decide to crowdfund some startup money, make sure you try to spread the word with your local networks rather than appeal to strangers from all you are feeling extra ambitious, there are even those out there that contend you can start your own event planning business with little to no money:7. Develop your resource will need a network of resources to make your events a reality, such as caterers, entertainers, technical experts, technology suppliers, and marketing you organize all of these resources for the events, the vendors will provide the tools necessary. Reach out to friends in the event management industry and check reviews on websites like yelp to find the right vendors to work your funding in place, it’s time to start marketing your event planning business out to potential clients, partners, and vendors. Likeminded groups exist to connect event planners with other planners, as well as with other vendors and ’t be afraid to market your new event planning business in person, either. Networking events are perfect for making others aware of your services, but just remember that those types of events are built on what you can do for others, not just what they can do for learn more about how to use networking events to boost your event management business, check out “the ultimate guide to fostering relationships at your networking event. Take what you learned from your classes, your networks, and from your market research to plan your first big event. You got ts of running an event planning ially low overhead you are able to negotiate beneficial contracts with your vendors, you will minimize your need to store resources. Of course this only includes the administrative side of event planning, such as scheduling, with a major portion of the job spent in the field, managing these the situation permits it, running an event planning business out your own home is far more affordable than renting an expensive ng off of the benefit of potential work-from-home scenarios, your event planning business grants you certain flexibilities not offered by other service-based businesses, such as food services or are your own boss in this situation. This includes hosting meetings with clients and employees over the internet, which can be scheduled at all times of the resources to help your event planning business event management blog on capterra is full of resources, lessons, software reviews, and technology updates all at your fingertips to ensure your event planning business is successful. Check out any of these links for event planning professional development:The top 10 books every event manager should 6 best ted talks for event top 8 conferences event professionals have to 5 worst things organizations are doing to plan and market their my guide helpful? Check out capterra's list of the best event management software event planning morpus is a content writer for capterra, a free resource that matches buyers and sellers of business software. Exhibit companies can help in designing inviting exhibits and display booths for brands, which can enhance the look and appeal of your booth or event to a great extent. Check out our privacy e event management copy of top 20 event management ibe to get monthly updates and this free infographic on the top 20 event management software. Our software expert blogging community, learn more about our editorial guidelines, and propose a topic you'd like to write aming right now from your cube or home office about the notion of starting an event planning business? Perhaps you’ve been working in the events and meetings industry for several years and think that now is a good time to figure out how to work for yourself. Or maybe you’ve helped organize a few events in the past and feel that this could be your life’s good reasons to pursue this profession. But anyone who contemplates the fantasy of starting their own event planning business must follow some important steps before you even beginning to talk to event planning skills and ut images/getty long-term success of an event planning business will be based on the experience that the planner brings to his or her clients. That means, if you’re thinking about starting an event planning business, you should have a solid grasp as to what an event planner is, and make sure you have some solid skills:verbal and written communicationsorganization and time managementnegotiation and budget managementcreativity, marketing, public relations and moreit would also be helpful to obtain professional certification in the industry, including cmp designation or involvement in ine your event planning market/, let’s say you’ve been working in corporate meetings for five years and are ready to create a business. A common error many planners make is to say that they are willing to coordinate all kinds of events, including corporate meetings, weddings, fundraising galas and . In time you may handle a full range of events, but initially recognize that there are distinctive differences between corporate, association, nonprofit and social events. Like everything else, starting an event planning business requires a business good news is that several resources are available to help. Small business administration is a good resource that publishes materials about writing business plans as ate which business entity fits best for your that you realize that creating an event planning business should be viewed as a “work in progress,” it’s very important to determine your business structure in the beginning. The expert to tax planning william perez outlines the six forms of business organizations recognized within the u. Event planning businesses should secure general liability and other forms of insurance to protect the business owner’s interests. Event planners work with a variety of suppliers, including caterers, florists, photographers and although you may think that you can handle all tasks, ultimately you are going to need to establish an infrastructure of resources to support your events and overall operations. This includes staffing resources for administrative, sales, marketing, communications, legal, accounting and other your event planning of you may be disheartened by the reference to “legal” and “accounting. But now it is also a time to think a little deeper and continue pondering what types of event planning services you will recognize that many of you have probably already thought of this, but it’s important to stay focused on your core services. Will you offer full-service planning and execution on behalf of your client for venues, catering, production, speakers, gifts, transportation, lodging and more? An event planning fee services in mind, it’s important to determine your fee structure. Many independent and small event planning firms should be conscious of the various ways to cover their expenses and make a reasonable profit. Most event planners charge based on the following:flat feepercentage of expenseshourly ratepercentage of expenses plus hourly ratecommissionable funding for your most cases, this shouldn’t be step 9, but it’s important to be motivated by the work that your new firm will bring so that you don’t get discouraged when considering the necessary realities. And each business owner will vary how he or she chooses to secure and source such businesses require an operating budget, and it will be important to have access to a comfortable base of cash while establishing the firm. While it is possible to establish a business on limited funds, it is still important to have enough money to start your business and cover any living expenses while waiting to become on business development and marketing for your event your business model in place, an understanding of your services, a sense of how you will charge for your services, now it’s time to begin to develop important business and marketing , now you’re ready to choose the right name for your business and work your business development plan. You will also need to create business cards, stationery, a website, sales collateral, proposals, client agreements and s all event planners should have in their back ation wedding planning tips to deliver that dream are some helpful tips on how to start a wedding planning is a wedding coordinator? Essential guide to planning a lgbtq , it's possible to have a big wedding on a small is wedding planning certification and how to obtain it?
Here's what you should every event planner should know about winter you need to know if you want to be an independent wedding , you want to become a wedding planner? You should ask yourself before becoming a wedding to write an event planning business tional outlook handbook >. Convention, and event y what they & area data similar g, convention, and event planners coordinate all aspects of events and professional meetings. They arrange meeting locations, transportation, and other facts: meeting, convention, and event l entry-level experience in a related occupation. Change, meeting, convention, and event planners g, convention, and event planners coordinate all aspects of events and professional meetings. They arrange meeting locations, transportation, and other g, convention, and event planners spend time in their offices and onsite at hotels or convention centers. During meetings or conventions, planners may work many more hours than to become a meeting, convention, or event meeting, convention, and event planning positions require a bachelor’s degree. Some hospitality industry experience related to event planning is considered valuable for many median annual wage for meeting, convention, and event planners was $47,350 in may ment of meeting, convention, and event planners is projected to grow 10 percent from 2016 to 2026, faster than the average for all occupations. Job opportunities should be best for candidates with hospitality experience and a bachelor’s degree in meeting and event management, hospitality, or tourism e resources for employment and wages by state and area for meeting, convention, and event e the job duties, education, job growth, and pay of meeting, convention, and event planners with similar information, including links to o* more about meeting, convention, and event planners by visiting additional resources, including o*net, a source on key characteristics of workers and meeting, convention, and event planners g, convention, and event planners meet with clients to understand the purpose of their meeting or g, convention, and event planners coordinate all aspects of events and professional meetings. They arrange meeting locations, transportation, and other g, convention, and event planners typically do the following:Meet with clients to understand the purpose of the meeting or the scope of the event, including its time, location, and t bids from venues and service t venues to ensure that they meet the client’s nate event services such as rooms, transportation, and food r event activities to ensure that the client and the attendees are event bills and approve g, convention, and event planners organize a variety of events, including weddings, educational conferences, and business conventions. Before planning a meeting, for example, planners will meet with clients to estimate attendance and determine the meeting’s purpose. After the meeting, they make sure that all vendors are paid, and they may survey attendees to obtain feedback on the g, convention, and event planners search for potential meeting sites, such as hotels and convention centers. They may also organize speakers, entertainment, and following are examples of types of meeting, convention, and event planners:Meeting planners plan large meetings for organizations. These events may be in person or online, held either within corporate facilities, or offsite to include more tion planners plan conventions and conferences for organizations. They act as liaisons between the meeting facility and the planners who work for associations, businesses, and governments. They present food service options to outside planners, coordinate special requests, and suggest hotel services that work within a planner’s planners arrange the details of a variety of events. Wedding planners are the most well known, but event planners also coordinate celebrations such as anniversaries, reunions, and other large social events, as well as corporate events, including product launches, galas, and award ceremonies. Nonprofit event planners plan large events with the goal of raising donations for a charity or advocacy organization. Events may include banquets, charity races, and food environment about this g, convention, and event planners regularly collaborate with clients, hospitality workers, and meeting g, convention, and event planners held about 116,700 jobs in 2016. The largest employers of meeting, convention, and event planners were as follows:Religious, grantmaking, civic, professional, and similar odation and food , entertainment, and strative and support -employed g, convention, and event planners spend time in their offices and at event locations, such as hotels and convention centers. They may travel regularly to attend the events they organize and to visit prospective meeting work of meeting, convention, and event planners can be fast paced and demanding. Planners oversee many aspects of an event at the same time and face numerous deadlines, and they may coordinate multiple meetings or events at the same meeting, convention, and event planners worked full time in 2016. During meetings or conventions, planners may work on weekends and for more hours than they usually work in a to become a meeting, convention, or event planner about this g, convention, and event planners typically need a bachelor's meeting, convention, and event planning positions require a bachelor’s degree. Some hospitality industry experience related to event planning is considered valuable for many meeting, convention, and event planners need a bachelor’s degree. Although some colleges offer degree programs in meeting and event management, other common fields of study include communications, business, and business rs who have studied meeting and event management or hospitality management may start out with greater responsibilities than those from other academic disciplines. Some colleges offer continuing education courses in meeting and event es, certifications, and events industry council offers the certified meeting professional (cmp) credential, a voluntary certification for meeting and convention planners. Those who qualify must then pass an exam that covers topics such as strategic planning, financial and risk management, facility operations and services, and society of government meeting professionals (sgmp) offers the certified government meeting professional (cgmp) designation for meeting planners who work for, or contract with, federal, state, or local government. To become a certified planner, members must take a 3-day course and pass an organizations, including the american association of certified wedding planners and the association of certified professional wedding consultants, offer voluntary certifications in wedding planning. Although not required, the certifications can be helpful in attracting clients and proving can be beneficial for new meeting, convention, and event planners to have some experience in the hospitality industry. Meeting, convention, and event planners must establish and maintain positive relationships with clients and suppliers. Often, a given area has a limited number of vendors, and meeting, convention, and event planners will likely need them for future ation skills. Meeting, convention, and event planners must multitask, pay attention to details, and meet tight deadlines in order to provide high-quality meetings. Meeting, convention, and event planners must be able to develop creative solutions that satisfy clients. They must be able to recognize potential problems and identify solutions in about this g, convention, and event planners median annual wages, may 2016 business operations specialists $65,260 meeting, convention, and event planners $47,350 total, all occupations $37, median annual wage for meeting, convention, and event planners was $47,350 in may median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $25,670, and the highest 10 percent earned more than $83, may 2016, the median annual wages for meeting, convention, and event planners in the top industries in which they worked were as follows:Administrative and support ous, grantmaking, civic, professional, and similar odation and food , entertainment, and meeting, convention, and event planners worked full time in 2016.
During meetings or conventions, planners may work on weekends and for more hours than they usually work in a outlook about this g, convention, and event planners percent change in employment, projected 2016-26 meeting, convention, and event planners 10% business operations specialists 9% total, all occupations 7%. Of meeting, convention, and event planners is projected to grow 10 percent from 2016 to 2026, faster than the average for all occupations. Demand for professionally planned meetings and events is expected to remain steady as businesses and organizations continue to host events organizations with geographically separate offices and members, meetings are the only time they can bring everyone together. Despite the spread of online communication, face-to-face interaction remains ates with a bachelor’s degree in meeting and event management, hospitality, or tourism management should have the best job opportunities. When the economy is in a downturn, companies often cut budgets for ment projections data for meeting, convention, and event planners, ted employment, ment by : u. Bureau of labor statistics, employment projections g, convention, and event & area data about this tional employment statistics (oes). The link(s) below go to oes data maps for employment and wages by state and g, convention, and event onestop includes hundreds of occupational profiles with data available by state and metro area. There is also a salary info tool to search for wages by zip r occupations about this table shows a list of occupations with job duties that are similar to those of meeting, convention, and event -level strative services strative services managers plan, direct, and coordinate supportive services of an organization. They direct staff to ensure that customers are satisfied with their dining experience, and they manage the business to ensure that it is school diploma or isers organize events and campaigns to raise money and other kinds of donations for an organization. They also ensure that the establishment is run efficiently and school diploma or agents sell transportation, lodging, and entertainment activities to individuals and groups planning trips. They offer advice on destinations, plan trip itineraries, and make travel arrangements for school diploma or ts for more information about this more information about meeting, convention, and event planners, including information about certification and industry trends, industry y of government meeting more information about wedding planners, including information about certification, an association of certified wedding ation of bridal ation of certified professional wedding g, convention, and event of labor statistics, u. Department of labor, occupational outlook handbook, meeting, convention, and event planners,Tuesday, october 24, what they do tab describes the typical duties and responsibilities of workers in the occupation, including what tools and equipment they use and how closely they are supervised. In may 2016, the median annual wage for all workers was $37,end this page using:Fanatic studio/getty d october 23, r you’re starting an event planning business for social events, business events or a combination of both, anyone who is considering their own business should certainly be concerned about establishing a fair rate for services. Several factors go into determining one’s rate, including event planning operating expenses, salaries, and reality is that rates vary based on where you operate your business, types of projects you take on, and what the market is willing to also depends on your target market. That is, your client or prospect will have a target budget in mind, and your services must be competitive within those event planners structure their feesnevertheless, if you want to start a part-time or even full-time business, there are roughly five ways to structure your event fee and quote your fees to your clients:flat project feepercentage of expenseshourly ratepercentage of expenses plus hourly ratecommissionable ratesfor the following explanations and examples, let's assume you want to earn on average $75 per hour for your services. As an event planner, to offer this, you must determine a flat fee and determine what services will be covered for that puts the responsibility of managing to a budget directly on you, the planner, and requires anticipating a variety of scenarios in which circumstances may change. In this scenario, the client may contract directly with the event planner to coordinate all logistics, catering, venue, lodging expenses, project fees are typically used for packaged events, such as those found with sports marketing programs, and may be calculated on a per person basis with many stipulations and example, assume you are being hired to organize a one-day historic city tour for 15 guests. It will be the event planner’s responsibility/risk to identify required deposits, pay for all services, and hold responsibility for all service based on a percentage of expenseson average, most qualified event planners should feel comfortable with charging between 15-20% of the total cost of an event as part of their fee. Depending on the complexity of the program and amount of time it takes to plan and execute an event, sometimes this is enough to cover a planner’s entire cost and source of example, assume you are being hired to organize a private dinner at an exclusive restaurant for 40 guests with an average of $175 per 's estimate that it takes you a total of 15 hours to meet with your client, plan, attend and complete all follow up on this event. If you charge a rate of 18% of total expenses, you will earn just a little more than your targeted hourly rate of $75/hour:$175 x 40 guests = $7,000 x 18% = $1,26015 hours x $75/hr = $1,125if the client is contracting with you for all services directly, the subtotal event expense charge to the client would be a total of $8, based on hourly ratesome clients prefer the event planner to quote an hourly rate for services and to estimate the total number of hours to manage and execute a given client program. It may seem similar to the flat project rate, but it allows for more flexibility on the part of both parties to adjust to changes that may be needed along the business event planners will bill hourly for services. As an event planner, you should include a reference to billing for all reasonable business expenses that may be event planners may markup operating expenses such as shipping, car rentals, and other miscellaneous expense items by as much as 15-20% while others do not; if you do, you should disclose such markups and obtain agreement with your client in it comes to hourly event planning rates, it is also important to determine how frequently you may bill for your example, let's assume that a client is hiring you in october to organize a one-day seminar in march. Based on percentage of expenses plus flat fee/hourly ratesometimes you’re being hired to organize an event, and for whatever reason, the client prefers a rate based on a percentage of expenses. In these situations, it is reasonable to present your fees at a combined cost in two different example, a client hires you to organize events associated with a conference. The total cost for these combined events run approximately $20,000, but it requires about 60 hours of your time, and the complexity of this project may justify a higher profit margin. Your quote then may reflect the following:subtotal event expenses: $23,600flat fee: $1,125 (based on 15 hours at $75/hr)in this scenario, you will need to carefully determine that you have estimated your hours appropriately (an account to cover non-standard operating expenses such as personal travel). As expected, few clients are pleased to see increases in expenses later on unless justifiable reasons are based on commissionable ratesanother way that event planners may collect fees for services is by securing event space through venues that offer a commissionable rate. These are fees typically provided to travel agents for booking tickets, hotel rooms and other forms of example, many hotels may extend a commissionable rate up to as much as 10% for guestrooms and other gh some event planners will embrace commissionable rates as a source of income for themselves, savvier clients may question the event planner’s sense of loyalties when commissionable rates are involved. For that reason, many seasoned planners will limit any planning selections that include a commissionable rate or negotiate non-commissionable pricing for their programs and pass that source of savings directly to their client’s bottom r, some clients may be aware that commissionable rates exist and do not expect their outside consultants to bill using any of the other identified billing methods we've outlined and still pay a commissionable rate. In general, it isn’t considered good form by many event planners to essentially “double dip” their revenue stream this accepting commissioned rates, it's best not to charge your client fees for your services using alternative billing are scenarios when commissionable rates do make the most sense, such as a smaller nonprofit or association that may be hiring your services for a membership event or meeting and the bulk of the fees are paid directly by the attendees rather than the r scenario may be if your client is purchasing client gifts from you, and you may also offer promotional items distribution services. In that case, simply negotiate for the promotional items and do not charge for your services on an hourly basis unless your client is aware of all charges up , you want to become an event planner? 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