You have the ambition and the talent to start your own event business. Project management and the organization of parties, team building, or weddings hold no secrets for you. This year is undoubtedly the one that will lead you to entrepreneurial success. Before getting into the water, study your project in terms of its objectives, but also its constraints. Considering the factors that you will encounter during your adventure will be the key to your success.
Choose your specialty in events
Remember: in practice, an events company will support its customers in the organization of their meetings and highlights that require logistics and resources that the customer is not used to managing.
An events company can work with several interlocutors at the same time and bears a great responsibility. The target can be both B2B (Business to Business) for team building operations or conferences, and B2C (Business to Consumer) for the organization of weddings and large family celebrations. This means that different regulations apply if you decide to serve these two types of clients.
Unless you choose to specialize?
Choosing a specialty or a specific area to practice does not mean that you will close doors. You will need to ask yourself this question to find the right positioning in a competitive market. By finding your uniqueness and your added value, you will optimize your chances of attracting the attention of your potential customers and retaining them. This is the reason why agencies choose to “sell” themselves, not as an event company, but as a team-building specialist or wedding planner near me.
This question is not trivial, because it has legal impacts: during your reflections, remember to identify the mandatory authorizations that you will need to have for the exercise of your activity. Indeed, the sale of alcohol is regulated, as are certain tourist activities (tourist guide, etc.).
The preliminary steps not to be missed: market study, business plan, etc.
Before finalizing the creation of your business, which will allow you to issue invoices, you must follow several preparatory steps. It is never a waste of time because these preparations and forecasts that you make upstream will ensure the development of your company. Keep in mind that, even if you are an individual entrepreneur, you engage with third parties: customers, suppliers, service providers… and it is a question of not disappointing them.
Here are 4 topics that you should analyze before you get started.
A business plan to set goals and secure your project
The business plan is the term used to designate the different stages of the project. It allows you to define each of the steps to be climbed for the creation and development of the company. A business plan considers the necessary budgets and the hiring of employees.
You can do this using online tools, like this event agency business plan template.
A plan to communicate and make yourself known
Word of mouth is a simple and effective way to market yourself. The recommendation is indeed a communication that increases the chances of leading to a signed service. To increase your visibility, you can quickly set up advertising levers such as social networks or the purchase of space.
In the same way, put together your address book and quickly maintain courteous relations with your potential partners. To get to know the service providers and suppliers with whom you will be working, introduce yourself to them. Build on your network!
An estimate of the ancillary costs to be considered
In setting up your project, it is essential that you identify your expenses. For the creation of an event company, insurance is essential.
The subscription to a professional civil liability allows you to prevent the risks related to your activity. In such a business, it is more than common to transport equipment or organize activities. Professional liability will meet this need.
Likewise, budget for event-related security services, accountant fees, bank charges, postage, stationery, etc. These are all elements that, once listed, allow you to be able to effectively manage your business.
It is also important to consider the remuneration you want to pay yourself during your activity. This is to consider the minimum number of services to be charged to be able to pay you. Consider the costs of your event company, but also the level of taxation that will be required of you, as well as compulsory social contributions.
Once again, these are costs that are relevant to carry out with a specialized lawyer and a chartered accountant. In addition, public bodies such as the Chambers of Commerce and Industry (CCI), the business tax service (SIE), and URSSAF are competent to answer you.
Choose a name and protect it
Choosing your name and registering your trademark are two essential steps. It is this name that will reflect your brand in the eyes of your customers, your suppliers. It is the element that will distinguish you from your competition. This name must therefore be original.
Once found, it is still necessary to protect it. You will first have to make sure that this same name is not already used by one of your competitors. Otherwise, the INPI, the institute with which you will register your mark, will send you a refusal. The prior art search procedure will allow you to check the availability of your name.
These ideas and tips will surely help you a great deal to become an event or corporate event planner. The main objective is to open one of the best wedding planners near me in Maryland, the United States and run it successfully.