When I started developing my business idea, I needed a business plan. After trying a few online business plan services I found Upmetrics. The templates really sold me on the service as they saved me a ton of time, pro-typing my idea. Upmetrics also has powerful tools that were easy to learn, great customer service and the perfect price. After trying Upmetrics, I wish to highly recommend this app to anyone who needs to write a business plan flexibly and to a high standard.
Seriously, forget about LivePlan, Bizplan or Cuttles. I've tried them all! Thank you Upmetrics for your excellent customer support. Been using Upmetrics for my crypto startup and can only recommend it. 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. Use this "Event Planning Business Plan" and complete your professional business plan faster to kickstart your business.
Let's start business planning! Think about where you will work from. Do you really need the overheads of an office? Can you start out working from home? As we have already mentioned, there are a lot of benefits from starting out using a home office.
If you feel that it is really important to have an office consider hot-desking, a shared workspace or incubator unit where you will get to meet other business owners too. Starting an event management company has low barriers to entry as generally, it is a service based role, which relies primarily on your skills as an individual. As long as you have access to a phone, computer and WiFi you should be ready to begin! Notice will be required to install a phone line and WiFi to your chosen location though, so plan ahead for this before your launch date if you need any changes to your home set up.
Later in the post, we talk in more detail about what to do if you are looking to start a business with no money. For an industry like event planning, having little money is not necessarily a roadblock to starting your own business. For the foreseeable future you will probably be working alone, or perhaps working with freelancers on a project by project basis.
Sites like Upwork are great as they allow you to find temporary staff that have the skills you need and agree a set fee on a project by project basis. You can outsource legal contracts, copywriting, web design, video editing and any task you can think of. You can even hire a virtual assistant to help with administration or handle phone calls.
Locally, try to develop a network of suppliers that you know and trust so you know where to turn to for quotes whenever opportunities arise. Let them know that you are going solo and they may also be able to recommend you for projects they hear about. Think about ways you could work with others for mutual satisfaction and benefit. For instance, a nutritionist might partner with a gym to give her clients a discount, and the gym might have a reciprocal agreement for referrals with the nutritionist.
When all these elements are in place the time has come to officially launch your business. People need to know that you are now open for business. Plan well ahead for this day and try to have clients on board even before your official launch. The hardest step is getting your first client. With every client that you work with you are building a portfolio of achievements which can help you to gain further business.
Any business creates a number of administrative duties, such as tax, accounting and legal reporting and requirements. There are a lot of things that need your attention when running a small business, which takes you away from doing what you actually love and are good at - event planning.
Take care to stay on top of all paperwork and declarations relevant to your business and the country you operate in. Submit paperwork and accounts in a timely manner before deadlines otherwise you could be subject to fines. Always cover yourself by having written contracts with all suppliers and vendors and freelancers so that there can be no misunderstandings or liabilities. Be sure to dedicate plenty of time to developing and growing your business, otherwise, you will find that you complete your first projects and then have no more work on the horizon.
Managing cash flow and the peaks and troughs can be difficult as you get to grips with being your own boss. When I was considering starting my own event management company I enrolled in a night class which helped me to create my own business plan. The tutors shared a business plan sample layout, as well as general advice and support about taking that important first step into being your own boss.
I know how much this helped to focus my efforts on starting up the company and my aims for the future and so I wanted to share with you my own event planning business plan sample. There is no right or wrong answers for your business plan, it is unique. You can adapt the layout specific to your requirements. There may be additional information that you want to add in or questions that are not relevant to your business model.
Regardless of the specifics you include and how many pages the completed document is, your business plan is what turns your idea into reality. Demonstrate through your business plan how you will demonstrate this and take those things on so they can get back to business. What is your value? What do you do differently from other event planners?
Know your unique value to a specific type of client and explain it at every chance you get. Communicate what you want to achieve so that any potential investors can see at a glance what your business idea is, without using any complicated jargon. If you understand your market and the competition, you have a better chance of understanding the business need out there and how your business can position itself.
Be clear about your target market Who will you be selling to? Why are you different to your competitors? It is difficult to be accurate and the numbers in the finance section can be scary but it is important to try to be realistic. Likewise you need to identify how you will make a profit and the anticipated timescales for this.
A strong financial business plan will be essential if you need to secure loans and investment, as well as a tool to keep you focused. Your business plan should be a working document, particularly in the important first stages of starting out in business. The process of thinking about and creating your plan is what will give you a competitive edge. Check back and revisit your plan regularly.
Let the plan grow with you and your business to keep you on the right path. Download the event management business plan PDF below and create your own bespoke action plan for your startup. Do you want to add this PDF business plan template to your own website? If so email contact eventmanagerblog. Picking a name for your new business venture is highly important, as you want to get it right and select an epic company name that encapsulates your vision for the business. Deciding on event planning business names may be one of the final decisions you make, as working through your business plan will help you to define the vision of your new entity and therefore impact on the name.
Choose the right company name and ensure that your message and ethos are successfully catchy and well marketed and memorable for the right reasons. Being outlandish or weird can actually benefit you when choosing a company name because they are more memorable, attendees will start talking about it and they will want to know the story behind it! I have lost count of the number of times we get referred to as Northern Events, as Events Northern is not the natural way of saying it.
Not only is a short and snappy name easier to remember and recall but it can make branding, marketing and signage a lot easier to accommodate as well. Shorter names pack more of a punch. Do some market research just for naming, as this can help you with marketing and focusing your demographic further down the line. Know and understand what you want to get across to potential clients before you start and try to embody that in the name.
Also, remember that it is your message and style that makes your business unique, and that will help to put a creative spin on your business name. Although it is hard, try to think long-term in terms of your name as you never know where your company will take you. This is something I have learned from experience as, at the start, Events Northern was always focused on events in the North of the UK, so the business name was ideal for our core focus.
Gathering impartial data and suggestions can also give you inspiration to evolve your ideas further. It is also a way to check for abbreviations or potential initial errors in the name that you can fix now rather than not noticing until further down the line. Creating a play on words is effective but you need the knowledge to do this, so pick up a dictionary or thesaurus and help to expand your vocabulary.
You can use it to find synonyms of other words or expand your adjectives. In some countries, there will also be restrictions on using certain names together which could lead to infringing copyright or naming patents. When you are set on a name also check the social media platforms to aim for consistency across the board. Google can be a useful marketing tool to spread the word about your business but it is much harder to use if you have a lot of competition.
Starting an event management company generally has low set up costs compared to many other types of business. If not, all of these things should be easily within reach. When you are starting out in business and even when you are established! When you work for yourself it is true that every penny counts.
If you have no money you can still start an event planning business, so long as you can start making money fast. If you are starting out and desperately need to bring some money in, there can be four ways to access funds quickly:. Owning your own event freelancing or small business can feel like feast or famine when it comes to work, which means that managing cash flow can be a big challenge. You need to keep the flow of clients coming in.
For so many freelancers and sole proprietors, it can feel like boom or bust. Balancing out your cash flow is one of the best things you can do for your long-term success as an event freelancer or small business professional. Here are a few ideas on how you can even out your cash flow problems and work peaks and troughs.
We get it. The last thing you want to do as an event professional who has feast or famine times is to turn away work. It affects your health and means you could be pulled in so many different directions that all of your clients feel the lack of attention. Until you build a roster of recurring clients who keep you busy year-round, you will have hills and valleys, dearth and surfeit. In order to level that out, one of the things you can do is work with other event planners in a referral group.
Just as a physician will provide a patient with a referral to another physician, you can do this with a group of event managers. Select a group of professionals you believe in and can trust. You also want to ensure that this sort of relationship works for you too.
Make this clear. You can also use the group to help increase your staff. Pay them accordingly. This is a similar idea to the one above. If you have several happy clients, now is the time to create a formal referral program. Ask happy clients to refer you to others in their network or tell your clients that you are accepting new clients for events in a stipulated time frame like Spring of This helps you book up your calendar in advance, rewards your clients for the referrals, and creates scarcity when they see how far in advance you are booked.
This drives people to book you early or ask for other suggestions, which can help you work your referral group as mentioned above. Even the best event profs can have problems with a steady flow of clients. When you do, here are a few things that can help make up for it. What would happen during the famine? What should you do? In this case of plenty, consider hiring a virtual assistant to allow you to bring in more work. You can hire them on a contingency system where they work on projects when you have the work.
A virtual assistant is a safe way to take on additional work that will help you grow without taking the risk of another full-time, permanent employee. You can task them with researching potential new clients too, to hopefully help even out your flow of work..
Work hard and make an impression and your new network of people met through volunteering may just hire you. Simply look for ways in which to be helpful. While it may not help you get paid any earlier, this tip can help you get your calendar booked early so you can worry less. And if you require a downpayment to hold the spot, you can get a little revenue coming in before the event. If you have clients with recurring events, give them an incentive to book you early.
If your event business is new or struggling, the easiest and least expensive way to grow it is through referral marketing. You never know who you know. Ask them if they need any help. Sometimes, someone has taken on more than they can handle and they need someone to finish the project. Other times, they have someone in their network who needs help with an event.
Most people would be willing to hire an event planner that a good friend referred them to, so get happy clients and attendees to talk about you. Our friends know us and know what we like. According to the Word of Mouth Marketing Association, one offline word-of-mouth impression drives sales at least 5x more than a paid mention does. Give those referring you all the information they need to make sharing it with their network easy. Make sure to thank them when they do and offer them a referral fee or thank you card or gift for their assistance if work materializes as a result.
You can even offer a friends and family discount or free consultation. Join a group and get to know other people. In-person networking groups like your local chamber of commerce and others as well as virtual groups on LinkedIn and Facebook allow you to make connections with your ideal clients and other professionals who can help expand your network.
Instead, look for opportunities to be of assistance and connect them to the people they want to meet or need help with. If you become a resource for others, they are likely to become a resource for you as well because they will begin to know, like, and trust you.
As mentioned above, becoming a resource for people is a good way to get hired. If you can become the noted expert in an area, book speaking engagements, publish about topics of interest to your ideal audience, write a book or an ebook , post on sites offering your assistance or answering questions, following others on social media and joining in on chats and other discussions, you can quickly become known for your insights.
When you do, people will approach you to work for them. This means less time spent needing to market your services. Know one more benefit to becoming a subject matter expert? You can increase your pricing, which is another good way to improve cash flow.
Going off of the subject matter expert advice, look for ways you can expand your offerings and sell something. As an event professional, you are exchanging your time for money. You can make a very good career doing so but you can also exhaust yourself chasing the money and working the hours because you want more of it to make up for times when clients are few and far between. An ideal way to balance out cash flow is to produce something that can earn you money without you being involved.
For instance, a book, product, or even a course can bring in revenue without an additional investment of your time. You invest initially in its creation because you do so on spec. Most likely you will not be paid to create it. By setting your prices you have chosen to work with a client of a specified means or revenue. But a way to get more clients is by going into another market.
This could mean taking on another niche or dropping your price. This would entail shorter stints, less work on your part, and a wider audience base. Or some people just want a plan they can follow. Their limited budgets may prevent them from hiring a full-time planner. You can fill that need.
To improve cash flow, either get more clients, raise prices on your services, or change how you collect the money. For instance, adding a payment plan for large events that would bring in a smaller amount each month preceding the event would help, as would requiring a down payment to hold the date and another partial payment when they see your first plan or some other accepted milestone.
Your final payment may be diminished but spreading out the payments would bring some stability to the cash flow. Instead of waiting for clients to come to you, think about opportunities you can make a start on right away. You probably have event ideas which could be financially viable, so why not do them yourself?
Of course, there is risk involved and investment needs to be secured but it can also potentially give you the biggest returns. You can start small and build the event year-on-year. Consider options such as crowdfunding to test the viability of the idea and reduce your financial risk.
Look for in-kind sponsorship, partners, funding opportunities and ticketing to balance the budget. If business is really slow, think about if you need to widen your catchment area to look for clients a little further afield. Of course, the convenience factor drops and the travel time and expense increases when you are working out-of-town but if the demand for services is high elsewhere new contracts can be negotiated to cover these factors.
Setting travel budgets and fees can feel a little overwhelming in the beginning, but they can still profitable course of action. Know your worth. The only exception to that is if you have a potential client who will open up doors for you. In that sense being flexible in your pricing may just be the cost of doing business. Of course, people get busy. Email inboxes become overwhelmingly full.
Politely remind them every few days. Make sure the reminder that you set for the day before the deadline has a much more urgent tone. Please let me know. Businesses need to know who they serve and what problem they solve. Attract the wrong ones and you might not be in business much longer. A successful event business is about more than just numbers. If getting bookings for events was all that mattered, everyone would be in business for themselves.
The wrong kind of client can be one heck of a headache so you want to make sure you attract the kind that you enjoy working with. You cannot please everyone, and trying to offer event planning services to everyone, no matter what their brief is, means that you are missing out on specializing on your strengths and developing your specific area of expertise. The opposite is true. Most people think choosing a niche is limiting. Ask a neurosurgeon. Selecting a niche to focus on can be the wisest move you make.
As personalization increases, niching will become an expectation much in the same way physicians select a specialty. Yes, some people will still be in general practice but those in high demand will specialize. Determine who you want to work with and speak only to them. Once you know what you want and who you work well with, cast narrow not wide.
Everyone will be happier in the long run. When you personalize your marketing to a specified group of people, they will feel you are speaking just to them and will appreciate the personalized attention. You only have so many hours in your day.
Every project and client you choose, takes your time. But still, many businesses hesitate to narrow down prospects because they worry that means less potential clients. You can take a keyword and by using analytics tools see just how often someone searched for that term.
In pay per click, some terms are more expensive than others to place for because they are popular searches. If there are only 1, searches of that term per year, but a large percentage convert, then you would be wise to buy for that term.
The same is true for niches. You want people to self-select before they ask you to give of your most precious commodity - time. Think of the referral business like high school cliques. Jocks are generally friends with jocks and nerds with nerds. In January we conducted one of the largest pieces of event planning research ever completed. With 2, contacts and over 1, respondents. If you would like a copy of this research to publish it on your website, you can request it here: State of the Event Industry Research The outlook for the industry is looking positive overall.
In order to be successful in your event planning business, you need to learn to prioritize leads to understand who to spend your time with and who to let go. One of the most critical things you can do for the success of your event planning business, outside of pricing, is understanding the leads process.
Here are the basics you need to know. Prioritizing leads will not only help you spend time with the most worthwhile prospects, it will also increase your revenue because more of your time will be spent with those who are able to make a difference to your checking account.
As we have already covered, you should identify your ideal client, otherwise, it makes it next to impossible to be effective in your lead generation. Select a niche to serve, or at least identify your ideal demographic. Do you want to work only high-end events or do you love family-oriented get-togethers?
Whatever it is, sketch out who your ideal client is and what they struggle with. While this is common sense, some event planners still forget this basic advice. Always work inbound leads first. These are people who have reached out to you. Most event planners understand the priority behind a contact form but fail to see that there are other inbound lead types.
These could be people who stopped by at your booth at a show, asked you a question via social media or downloaded material from your website. No matter how they approached you, the follow-up is critical. Check in with them periodically to see if you can be of service. Use drip marketing or a newsletter to stay in touch and remain top of mind so that when they need an event planner, they think of you.
If you send out any sort of cold messaging via email or a newsletter, follow up with those who have clicked on any of these materials. If the person is someone who started as an inbound lead where they contacted you and were then added to a list, they take priority. Otherwise, anyone who clicks on your email or newsletter content deserves a polite, how can I help you?
No one clicks out of kindness. If they click, they have some interest in you, your services, or your content. Ideally, you would have technology in place that could keep track of their activity history and you could analyze it for patterns. For instance, do they seem to click on a particular topic like corporate events? Then consider touching base and offering them your corporate events guide.
This will position you as an industry expert, understanding of their needs, helpful, and a resource to turn to for assistance. All of these things will bring them back when it is time for them to make a decision about their event. When you contact them to see if you can be of service, offer them a piece of content that is in line with their interests.
You can contact businesses directly for corporate events , inquire with other vendors on potential partnerships, or market yourself on social media, to name a few. However you decide to do your own cold calling or approaching , make sure you have your ideal client information at your fingertips.
You do not want to approach someone just for the sake of getting more contacts in. Make sure they are good contacts and would make good clients and a good fit. Otherwise, you are wasting your time and theirs. What if you just want to know how to prioritize leads that are all coming in the same way such as through a contact form?
Keep reading. The first way to help you prioritize is to create a contact form that tells you what you need to know before contacting them. These things include:. Remember that ideal client list you made and the demographics you laid out? Use that to prioritize incoming leads or contact forms. Ask yourself the following questions:. Selecting an event planner is not the same thing as going into a store and buying a loaf of bread.
When you want bread, you walk into the store and buy it. On the other hand, there could be a very long sales cycle in selecting the perfect person to plan an event. This process of selection is often depicted as a funnel.
A funnel starts with a wide mouth. Although, hopefully not an immense one. You should be personalizing your campaigns based on your ideal client. After digesting these materials, some people will decide you are not a good fit for their event. This decision is usually based on preliminary qualifications like budget and industry specialization. Next, people now know a little bit about you and have decided you can handle their event but do they want you to? This part of the process is all about personalization and making connections.
They have options when it comes to event planners. This works both ways as you may decide you have no interest in working with them either. The last part of the sales funnel is the narrowest. Remember, that decision could mean your competition or it could just as easily mean forgoing an event planner altogether and doing it on their own.
At this stage addressing their needs is more important than ever. If you can provide a much deeper connection and understanding of their goals, they are more likely to select you. This is why prioritizing potential clients and leads is so important. The sales process requires a natural sloughing off of potential clients. You want to recognize the potential of becoming a client as early as possible and spend your time with those people.
Identify your ideal client so you can recognize them when they fill out a contact form or call you. Be a resource and you become a valuable ally. One of the most common questions we get asked at EventMB is how to get more clients. Whether you are a self-employed event planner or an ambitious CEO, clients are the lifeblood of the business.
It seems to be a lot harder nowadays too since people are tuning out advertising. The good news is that many of the ways you can reach new clients are free or inexpensive to you, outside of the time it costs to perform them. Whether you are introvert or extrovert, there are plenty of ways to land new clients. Knowing your ideal client will help you recognize them when you see them. It will also help you understand which tips on this list will help you the most. Here is the biggest list of tips to attract more event planning clients and grow your event planning business.
You need clients to survive and we all want to gain profitable event clients. Here is a bumper list of ways you can improve your client magnet potential while business is slow. Create Happy Clients and then Ask for Referrals The primary thing you need to do, is to create happy clients and attendees.
Find ways to delight and excite your attendees and clients as the basis for creating a referral plan. This will make them feel proud to see their review on a site and will also give them something to refer people to in order to learn more about what you do and how you do it. Get Reviews and Testimonials from the Right People Event planners can benefit from reviews from clients and attendees.
Anyone who has worked with you and benefited from your level of professionalism is a good ask. If you volunteered your services for an event, you can use them too. Help them understand that you depend on word-of-mouth as a small business and it means a lot to you.
There are very few people who will say no to an impassioned, yet humble, request. No one is in the mood for that. Ask for Introductions and Pass it Forward This is one of the most awkward things for most event planners. It feels forced, but if you are confident in your services you should feel like you are giving each one of your clients an opportunity to help one of their acquaintances out by referring them to you.
If you bring business to your clients they will be eager to return the goodwill. Be Yourself Be yourself, unless that self is standoffish and shy. In that case, be the opposite. But seriously, let the clients get to know you and open up to them. Someone who does more than just the service you hire them for is someone you want to refer to others.
They want to shine in front of their friends and peers. Referral Incentives If you are struggling with natural referrals from busy previous clients then it may be beneficial to add a little more incentive. Offer your existing clients money off or discounts if they refer a friend and they are more likely to recommend you if they are getting something in return.
For long-term clients or contracts, you could also offer discounted rates to their new referral as part of a loyalty scheme. The options for this are quite broad because you could base the incentives on the amount of work that they bring in and you may find that you need to do little else once this gets the ball rolling.
Know Your Demographic It is important to fully understand who you are trying to attract, what their preferences are and the best way to contact them. You will be looking to market your services in completely different ways if your demographic is year olds compared to year olds. Think about technology and social media, as well as more traditional marketing channels such as newspapers, leaflets and business networking.
Make a Package Bundling together various services can help to create a bigger sense of value to your client. Think about offering a simple package to entice more customers. What opportunities are there to upsell the package? Creative Sponsorship Sponsorship can help you increase your brand awareness and improve interaction with potential clients if done correctly. Sometimes you need to speculate to accumulate. Make sure you choose opportunities that are relevant to your audience and get creative so that you stand out from the crowd by showing why clients should pick you!
As an event planner you might want to offer in-kind sponsorship - where you offer your services pro bono to run an event or a specific element such as the VIP lounge instead of giving a financial payment. In return, you are listed and promoted as the sponsor and gain the perks that that brings.
Video Adverts Fewer people are watching live TV now and many are recording and skipping past the adverts. Not that TV adverts were probably ever within your budget anyway! Instead, make a video advert and share it via your social media accounts to your followers and potential clients. You could also use the video as a welcome or explanation of services when you get an inquiry. This is an effective way of showing off some of your projects and is much more engaging than an introductory email.
Give it a go to see the difference in your client conversion rate. Become a Guest Speaker As an eventprof you have a lot of expertise and experience that others want to hear. Some of the best ways of showing what you do is to discuss it and show them exactly how competent you are. Attend events as a guest speaker and you can discuss the problems that your services fix and deal with! The key here is to offer value within the talk itself, give good advice on the day and encourage potential clients to come to talk to you afterwards.
Your professional knowledge is that carrot enticing people to come and strike up a conversation with you. Host a Giveaway Everybody loves free stuff, and hosting quality and interesting giveaways is a quick way to get people involved and aware of your brand. Make Use of Trade Shows If you have the budget to participate, a trade show can be great for networking success, brand positioning and sales.
Exhibitions bring buyers and sellers from your industry, or local area, together which means you have a good chance to meet long-term potential clients. Try to be innovative, stand out from the crowd and draw attendees to your exhibition stand to better your chances. Most importantly though make sure that you follow up on any promising leads promptly after the event, otherwise, your investment will be worthless.
Create Your Own Leads Sometimes clients are not always forthcoming and you need to proactively go out there and find them yourself. One of the ways to do this is to use platforms that have a lot of business information about people, for example, LinkedIn. This also helps to connect you to similar people that may help your business too, for example, new suppliers. Hashtags There is a plethora of information on social media and it can be hard to get noticed without having to pay for adverts or to get your message out.
Using popular and relevant hashtags on social media can be an easy way to get in front of potential new clients. Twitter chats can be a great opportunity and some chats are based on geographical location while others are based on different expert topic areas and interests. Keep your content and hashtags relevant and you might find that a retweet or share turns into a bigger opportunity. Resist the urge to do the hard sell on social media though. Focus on being genuine and striking up real conversations and relationships.
Business Cards Whether you still favor traditional paper business cards or have gone digital make sure you always have your details to hand for easy sharing. With more and more people storing their cards on their phone they are less likely to take and keep a business card, so have both options available if you can. Include social media details as well as traditional methods of contact. Creative Partnerships Do you have a non-competing business that would work well with your own?
Approach them to create great package rates that help you both.
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