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Event Planning Business Executive Summary Template

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Event planning can be a complex and demanding business, but with ClickUp's Event Planning Business Executive Summary Template, you can streamline your processes and impress potential clients from the get-go.

This template is designed to help you create an executive summary that highlights the key aspects of your event planning business, allowing you to:

• Showcase your expertise, experience, and unique selling points to stand out from the competition
• Clearly communicate your business goals, objectives, and target market to potential clients
• Provide an overview of your services, pricing packages, and client testimonials to build trust and credibility

Whether you're pitching to new clients or seeking funding for your event planning business, this template will help you create a compelling executive summary that sets you up for success. So why wait? Get started with ClickUp today!

Benefits of Event Planning Business Executive Summary Template

When it comes to the event planning business, a well-crafted executive summary is essential for showcasing your expertise and attracting potential clients. By using the Event Planning Business Executive Summary Template, you can:

• Highlight your unique selling points and stand out from the competition
• Clearly communicate your event planning services and areas of expertise
• Showcase your past successful events and client testimonials
• Provide an overview of your team's qualifications and experience
• Present your pricing structure and packages in a professional manner
• Save time and effort by starting with a pre-designed template that you can easily customize to fit your brand.

Main Elements of Event Planning Business Executive Summary Template

When it comes to planning a successful event, ClickUp's Event Planning Business Executive Summary template has got you covered with all the essential elements:

• Document Template: Use ClickUp's Doc feature to create a comprehensive executive summary for your event planning business.
• Custom Statuses: Track the progress of your executive summary with custom statuses such as Draft, In Review, and Finalized.
• Custom Fields: Include important details about your business such as Budget, Target Audience, Event Type, and Marketing Strategy using custom fields.
• Different Views: View your executive summary in different formats such as Document Outline, Side by Side, and Full Screen, allowing for easy editing, collaboration, and presentation.

How to Use Executive Summary for Event Planning Business

If you're in the event planning business and need to create an executive summary, don't worry! Follow these steps to use the Event Planning Business Executive Summary Template in ClickUp:

1. Understand the purpose

Before diving into creating your executive summary, it's essential to understand its purpose. The executive summary provides an overview of your event planning business, highlighting key information and enticing potential clients or investors to learn more. Keep in mind that it should be concise, persuasive, and engaging.

Use the Docs feature in ClickUp to access the Event Planning Business Executive Summary Template and familiarize yourself with its structure.

2. Gather relevant information

To create a comprehensive executive summary, collect all the necessary information about your event planning business. This includes your company's mission statement, services offered, target market, competitive advantage, and any notable achievements or success stories.

Utilize custom fields in ClickUp to input and organize key information about your event planning business.

3. Craft a compelling introduction

Start your executive summary with an attention-grabbing introduction that clearly communicates the unique value your event planning business brings to the table. Highlight your expertise, creativity, and ability to deliver exceptional events that exceed clients' expectations.

Use the Table view in ClickUp to structure and outline your introduction, ensuring it captures the reader's interest right from the start.

4. Showcase your services and expertise

In this section, provide a detailed overview of the services your event planning business offers. Highlight your team's expertise, experience, and any specialized services or unique approaches you provide. Additionally, mention any partnerships or collaborations that enhance your ability to deliver outstanding events.

Use the Board view in ClickUp to visually showcase your services and expertise, making it easy for readers to understand the scope of your event planning business.

5. Summarize financial projections and goals

To demonstrate the financial viability of your event planning business, summarize your projected revenue, expenses, and profitability. Include any relevant financial goals or milestones you aim to achieve in the near future. This will give potential clients or investors confidence in your ability to generate revenue and sustain growth.

Utilize Dashboards in ClickUp to create visual representations of your financial projections and milestones, making it easy for readers to grasp the potential of your event planning business.

By following these steps and using the Event Planning Business Executive Summary Template in ClickUp, you'll be able to create a compelling and professional executive summary that effectively showcases the strengths and potential of your event planning business.

Get Started with ClickUp’s Event Planning Business Executive Summary Template

Event planning businesses can use this Executive Summary Template to create a comprehensive overview of their services and capabilities, ideal for sharing with potential clients and investors.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create an impressive executive summary:

• Use the Introduction section to provide a captivating overview of your event planning business, including your mission, vision, and unique selling points.
• Include a section on Services Offered, where you can outline the types of events you specialize in and the comprehensive range of planning services you provide.
• Use the Experience and Expertise section to highlight your team's background, qualifications, and notable past events you have successfully organized.
• Create a section on Client Testimonials to showcase positive feedback and testimonials from satisfied clients.
• Include a section on Pricing and Packages, where you can outline your pricing structure and the different packages available to clients.
• Use the Marketing and Promotion section to outline your marketing strategies and how you plan to attract and retain clients.
• Finally, create a section on Contact Information, where you can provide your business contact details for potential clients to get in touch.

By following these steps, you can create an impressive executive summary that effectively communicates the value of your event planning business.

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Event Venue Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Event Venue Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Event Venue Plan Here

Event Venue Executive Summary

Business overview.

Roses & Drapes Event Center is a new venue that will be able to hold the most elegant events in Colorado Springs, Colorado. Its breathtaking views of the Rocky Mountains combined with the spectacular sunset of Colorado will make Roses & Drapes the premier destination for weddings, bridal and baby showers, reunions, family events, and corporate events and galas.

Owned by Marcus and Janet Smith, a husband and wife team that have business and event planning experience of over ten years, will ensure the success of Roses & Drapes. They will employ a team of three highly qualified and trained event planners and partner with the most sought-after and highly recommended catering and pastry companies, florists, and dj’s that will make any event memorable and unique.

Roses & Drapes Event Venue will be a 20,000 square foot facility that is able to hold indoor and outdoor events and will be able to accommodate events of all sizes. The event planner will be able to work with each client on every detail in order to plan the perfect event.

Service Offering

The following are the services Roses & Drapes will be able to offer its clients:

• Four different ballrooms to choose from
• Two different ceremony sites
• Ample parking
• Recommendations for a catering, pastry, floral, and DJ services by an outside vendor
• Elegant and classy decor for any event
• An adequate supply of tables, chairs, and linens for any event
• A highly qualified and experienced team of event coordinators

Customer Focus

Roses & Drapes Event Venue will be targeting customers in the Colorado Springs area. The list of customers will be small and large companies, and families in the area that require family events. They will be targeting young couples that plan on getting married, parents that need a baby shower venue, parents that are planning their teenager’s Sweet 16 party, older couples that are celebrating milestone anniversaries. A lot of their clients will overlap as some will be holding corporate events and will also require a family event, and vice versa.

Management Team

Roses & Drapes Event Center will be owned and operated by Marcus and Janet Smith. Marcus has twenty years of experience as a financial advisor and has operated his own financial firm for many years. He will be in charge of all accounting, tax and business filings, permitting, and payroll. Janet Smith has fifteen years experience as a certified event planner and has gained numerous recommendations over the years serving clients in Colorado Springs. Her event expertise and customer service skills make her a well-known and highly recommended local event planner.

Success Factors

Roses & Drapes Event Center will be able to achieve success by offering the following competitive advantages:

• Amazing and breathtaking atmosphere that includes scenic views of the Rocky Mountains and sunsets
• Indoor and outdoor options for holding events of all sizes that all include elegant and classic decor
• A dedicated team of highly qualified and customer-service oriented event planners
• Partnerships with the most highly-sought after caterers, florists, and dj’s that have a proven reliability and track record of servicing all types of events

Financial Highlights

Roses & Drapes Event Center is seeking $65,000 in debt financing to open its event center in Colorado Springs, Colorado. The funding will be dedicated for leasehold improvements, design, marketing, working capital, and payroll. The breakout of the funding is below:

• Event venue design/build: $25,000
• Furniture inventory (tables, chairs, linens): $10,000
• Marketing: $10,000
• Working capital: $5,000
• 3-months of payroll costs: $15,000

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How to Write an Event Planning Business Plan + Free Template

Planned a few events in the past?

And, if you feel that event planning is your forte, and you have ideas that are both creative and functional, event planning might be an exciting endeavor for you!

Although most people start out by working under someone, everyone dreams of starting their own event planning business.

Also, you are about to go ahead and start yours; wait a moment!

You might have sufficient knowledge for planning events, but navigating the complexities of the event planning industry needs a well-thought-out roadmap. And that roadmap is a comprehensive event management business plan.

Yes, you read it correctly. A business plan can be of great help while starting your own event planning company. It not only sets the foundation for your venture but also enhances your opportunities for success.

So, we have created a Sample Event Planning Business Plan for you to get a good idea about how a perfect event business plan should look like!

Now, without any further ado; let’s explore all the details you will need to write in your stunning business plan.

Key Takeaways

• Clearly define your goals, mission statement, service offerings, and management team in your business plan.
• Perform thorough market and industry analysis to identify target customers, and adapt to the latest trends.
• Present a realistic financial plan, including startup costs, revenue projections, and a break-even analysis to attract investors.
• Effectively draft your pricing strategy and unique selling propositions to meet the specific needs of your target customers.
• Provide a clear outline of your business operations to efficiently deliver your planning services and seize new opportunities.
• Craft your marketing techniques, sales tactics, and promotional activities to reach a wider audience.
• Recognize your key competitors, and develop strategies that make your event planning business stand out in the competitive landscape.

How to Write an Event Planning Business Plan?

• Get a Business Plan Template
• Write an Executive Summary
• Provide a Company Overview
• Conduct an Industry and Market Analysis
• Describe your Product and Service Offerings
• Outline a Sales and Marketing Plan
• Introduce Your Team
• Outline Business Operations
• Prepare a Financial Plan

1. Get a Business Plan Template

Before you start writing a business plan for your event planning business, it is recommended to get a business plan template first.

It’s like having a valuable resource for your business planning. It not only simplifies the business plan writing process but also helps you include all the essential elements in your plan.

However, you can effectively organize your thoughts and accurately draft a strategically sound business document according to your specific requirements and preferences.

Not only that, it sets the stage for a comprehensive, professional business plan that empowers you to highlight your vision, attract potential investors, and navigate the competitive event planning landscape.

If you are a budding entrepreneur or looking for a polished template, choose Upmetrics’ business plan template now and ensure that you won’t skip any important facts in your plan.

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Plans starting from $7/month

2. Write an Executive Summary

An executive summary is the first and foremost section of your event planning business plan. It provides a brief introduction to the entire business plan.

Make sure that it is clear, concise, and engaging, as it will create your first impression and attract investors or readers to delve further into your plan.

Start this section by describing your idea behind an event planning and type of business; for example, are you a startup business, want to grow an existing one, or running a business chain?

Communicate your business objectives and emphasize how you will be different from other event-planning businesses. Here is an example of event planning objectives using Upmetrics:

Next, give an overview of each of the subsequent sections, including offered services, market opportunities, marketing strategies, and financial projections that will be explored in greater detail within the plan.

Not only that, you can end this summary with a compelling call to action, inviting potential investors or readers to the next meeting if they are interested in your event planning.

Generally, this section is written after the whole event business plan is ready. It is often the easiest way to do so as you have simply gone through and written all the key sections of your plan.

3. Provide a Company Overview

Now, provide detailed information about your event plan business. It contains ownership, legal structure, office location, business history, and other such business-related facts.

Begin with the intro of what type of events you are organizing. For instance, it will be corporate events (catering to businesses), social events/celebrations(wedding planning, birthday parties, etc), or niche events(specialized in just one type).

Discuss a little bit more about your business history, including when you started event planning and what milestones you have accomplished. Also, accentuate your mission statement.

Take reference from the below example describing the mission of the event planning company:

In an ever-changing, fast-paced world, success is determined by good choices for lasting effects. Eventel strives to be the best choice for clients by helping to ease their event planning burden.

Through consistent, predictable professionalism, Eventel will ensure a worry-free and hassle-free event at a reasonable price.

Event also has internal clients to serve. The event will strive to provide the same predictable and professional working environment to its employees and contracted vendors, justly compensating them for their services.

It is also a priority to make a comfortable living wage for its owners, founders, full-time staff, and their families.

Keeping in tune with the needs of the market, utilizing the latest technology and trends, all while ensuring the client receives the individual attention they deserve, is the vision and daily mission of Eventel; The Event Planning Specialists.

In addition to that, you can mention your startup summary and future business goals, as this section gives an in-depth overview of your business.

4. Conduct an Industry and Market Analysis

Starting an event management business requires a strategic events industry and market analysis. So, take some time to go further and locate more accurate data.

Try to include certain key elements in this section:

Market size and growth potential

You need to study specific data about various markets in which you are trying to get into and ensure profitability. So, describe your market size & growth potential and whether you will target a niche or a much broader market.

For instance, the USA industry revenue for event planners has grown at a CAGR of 4.1% over the past five years and reached $5.6 billion in 2023. So, it is crucial to define the target market segment.

Target market segment

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Do proper market research and try to create a buyer’s persona in terms of their demographic and psychographic profiles.

Take reference from the below example written using our innovative AI writing assistant :

Competitive analysis

Identify and analyze your direct and indirect competitors. Recognize their strengths & weaknesses, and describe what differentiates your business from other planners.

Direct competitors can be other event planning businesses, while wedding planners, local venues, caterers, or conference centers can be indirect competitors.

Point out how you have a competitive edge in the market, such as superior event management options, user-friendly methods/tools to book your services, and adequate pricing plans with better services.

Not only that, describe emerging market trends in the industry and explain how you will cope with all the directions. You can also list regulations and licensing requirements that may affect your company.

5. Describe your Product and Service Offerings

Next, specify the scope of your products and service offerings. As an event management business, you can describe the size and type of events you cater to, including a variety of event planning services.

This section must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors or readers understand the value of your business.

While drafting your  event planning services and products, you can take reference from the below example:

Eventel provides event planning in a wide range of applications. We guarantee satisfaction in the areas of appearance, performance, and taste. 

The following is a sampling of the types of events we plan every year:

• Corporate events or meetings, Training, and Retreats
• Conferences and Workshops
• Birthday parties, Anniversaries, Graduations, and Holidays
• Weddings, Receptions, and Showers
• Company picnics, banquets, and award ceremonies
• Caterer coordination and decor
• Trade shows and fashion shows

Effectively define your pricing plans for event planning services. Also, communicate your services to the customers by sharing a detailed description of the procedure you use while working with clients.

Mention if your event planning company offers any additional services. You may include services like lighting & sound, vendor negotiation, guest concierge services, etc.

6. Outline a Sales and Marketing Plan

Writing the sales and marketing strategy section means a list of tactics you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing strategies:

Social media marketing

Use social media platforms to present your company’s essence. Regularly post exquisite snapshots or videos of your planned social events, decor, and behind-the-scenes moments.

User-friendly website

Assure that your event management company has a user-friendly website that provides basic information about your services, pricing, and contact

details. Also, share informative blog post content or event videos.

Pricing strategy

Describe your pricing strategy—how you plan to price your services and stay competitive in the local market. You can mention any discounts you plan on offering to attract new customers.

Collaborations

Build an extensive vendor network to expand your reach and draw their existing customers. This might do wonders for your business and enhance your brand image.

Offline advertising

Effectively reach your target audience using offline advertising methods like brochures, newspapers, social gatherings, or events. Also, try to offer a personalized approach or stress-free planning to retain existing clients.

7. Introduce Your Team

A powerful management team is paramount for demonstrating your business’s ability to thrive in the event planning industry.

Letting your readers or investors know about your business leadership or key managers will help them have a clear idea of who is running your event planning company.

So, start this section by introducing key team members and highlighting their event planning skills & previous experience.

Jot down their qualifications and specific responsibilities. You can also shed light on how your experienced event planners contribute to the success of your business.

Next, describe the compensation plan for the leadership team and event planners, including salaries, bonuses, and other benefits. This can help key stakeholders to ascertain how much percentage is allocated to salaries.

If you have a board of advisors for your event management business, then mention them along with their roles and experience.

8. Outline Business Operations

Now, it’s time to outline the processes and procedures involved in your day-to-day business operations. Detail how you will eventually plan to manage your business effectively.

Staffing & training

Highlight your staffing needs by mentioning the number of employees, planners, or coordinators. Also, include their qualifications, the training required, and the duties they will perform.

Operational process

Outline the processes and procedures you will use to run your event planning business. It may include initial client meetings, decor, party favors, caterer coordination, set up/clean up, etc.

Equipment and machinery

You can also include the list of equipment and machinery required for event planning, such as office supplies, camera & photography equipment, event planning software, etc.

Explain how these technologies will help you maintain quality standards and improve the efficiency of your business operations. Refer to the below example written using Upmetrics AI assistant:

9. Prepare a Financial Plan

For a successful event planning business, you need to prepare a well-structured and in-depth financial plan with a realistic financial projection. It comes last in the business plan but is the most important section for investors.

So, mention all the below key components in your financial plan:

• Profit and loss statement
• Sales forecast
• Cash flow statement
• Balance sheet
• Break-even analysis
• Financial needs
• Tax considerations

From the above, you can identify the funding needs and evaluate the funding resources for your event planning company, including bank loans, SBA-guaranteed loans, angel investors, and personal savings.

In this section, you need to make a few assumptions. It will greatly affect the financial forecasts of your business. Refer below table to make important assumptions:

Well, having a realistic financial plan in your hand not only helps you present your business’s fiscal health but also emphasizes its sustainability.

However, calculating all the financial statements from scratch can be an overwhelming task. But, not to worry; use Upmetrics’ financial forecasting tool to formulate all your financial projections.

All you need to do is provide the information you have, and let the tool estimate financial factors, and create visual reports for you. No manual data entry, recalling Excel formulas, or preparing graphs—nothing.

Here’s an example of a projected cash flow statement for an event planning business:

Download Free Event Planning Business Plan Template

Need help writing your event planning business plan from scratch? Well, here you go; download our free event planning business plan template now and start writing.

This modern, user-friendly event management business plan template is specifically designed for your event business.

With a step-by-step guide and example, it assists you in creating your own plan without missing any crucial details.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Prepare Your Business Plan with Upmetrics AI

Finally! You know how to write an event planning business plan with the help of our free sample business plan template. So, you are one step closer to starting or growing your business confidently- pretty exciting, right?

But you know what else is exciting? Your business planning process can be even faster and easier than this. Yes, you heard it right; it’s possible with the power of the Upmetrics AI assistant tool .

So, take a sigh of relief and focus only on planning the most happening events in the town!

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Frequently asked questions, what are the key components of an event planning business plan.

Writing a professional event planning business plan involves the following key components:

• Executive summary
• Company overview
• Industry and market analysis
• Product and service offerings
• Sales and marketing plan
• Management team
• Business operations
• Financial plan

How often should I update my Event Planning Business Plan?

Your event planning business plan should be reviewed and updated at least once in a year or more often if there are significant changes in your business environment or services.

What are some tips for writing an Event Planning Business Plan?

Consider the following factors before writing an Event Planning Business Plan:

• Define your niche and business objectives
• Clearly mention unique selling points
• Be realistic in the financial statement
• Understand your target customer
• Stay agile in a dynamic industry

How much does it cost to start an event planning business?

A fair estimation for an event planning business can range from a few thousand to tens of thousands of dollars. It can vary widely depending on office space, equipment, and initial inventory.

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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How To Write a Successful Event Planning Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for event planning businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every event planning business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is an Event Planning Business Plan?

An event planning business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write an Event Planning Business Plan?

An event planning business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Event Planning Business Plan

The following are the key components of a successful event planning business plan:

Executive Summary

The executive summary of an event planning business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your event planning company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your event planning business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your event planning firm, mention this.

You will also include information about your chosen event planning business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of an event planning business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the event planning industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the customers of an event planning business may include:

• Wedding planners needing help with transportation logistics
• Conference organizers wanting assistance with on-site registration
• Caterers in need of assistance to manage the timing of service delivery

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or event planning services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your event planning business may have:

• You are the only event planner in your city with an events app that allows customers to book and manage their event logistics in one place.
• You have a team of experienced event planners who specialize in military funerals, which is a niche market.
• Your company is the go-to choice for conference organizers looking for assistance with on-site registration and event management.

This is not an exhaustive list, but it gives you an idea of the types of competitive advantages you may have.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your event planning business via a combination of these channels.

Operations Plan

This part of your event planning business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for an event planning business include reaching $X in sales. Other examples include launching a new product/service, expanding to a new market, or hiring key personnel.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific event planning industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Event Planning Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Event Planning Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup event planning business.

Sample Cash Flow Statement for a Startup Event Planning Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your event planning company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is an essential tool for any event planning company. If you are seeking funding from investors or lenders, it’s important to have a polished and professional business plan. Use the outline above as a guide as you write your own event planning business plan.   

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Who knows the importance of a well-laid plan better than event planners? We don’t have to tell you that you absolutely need to write an event planning business plan, but we’ll tell you how to do it. 

And don’t worry – an event planning business plan isn’t just for those who’re just starting their event planning business . It’s also for those who want to avoid business risks, explore better opportunities, and build trust with their clients on a deeper level. If some of these things describe your event planning business, let’s discover the essentials of your business plan and how to develop one yourself. 

Why Event Planning Business Plan Matters

A well-thought-out event planning business plan is crucial for several reasons, and it can empower entrepreneurs in the event planning industry such as yourself to achieve a variety of objectives. Here’s why it matters and what you as an event planning business owner will achieve with a solid business plan:

• A business plan serves as a roadmap for your event planning business. It outlines your goals, strategies, and the steps you need to take to achieve success.
• You’ll use the plan as a guiding document to stay focused on your objectives and navigate the complexities of the event planning industry.
• Investors and lenders often require a detailed business plan before considering any financial support.
• An event planning business plan showcases the viability and potential profitability of your business, attracting investors and securing funding.
• The process of creating an event planning business plan encourages you to thoroughly analyze their market, competitors, and target audience.
• Once you’ve gone through that process, you’ll make informed decisions based on this analysis, adapt strategies to changing market conditions, and maximize opportunities.
• A well-crafted event planning business plan allows you to clearly articulate your unique selling propositions (USPs) and competitive advantages.
• Use these differentiators to stand out in a crowded market, attract clients, and establish a strong brand presence.
• Financial projections included in the business plan provide a clear picture of revenue, expenses, and potential profits.
• Entrepreneurs can use this financial data to manage their resources effectively, make budgetary decisions, and ensure the financial health of their event planning business.
• The marketing and sales strategies outlined in the business plan help your event planning business to define its target audience and communicate its brand message.
• You’ll leverage the event planning business plan to implement effective marketing campaigns, build brand awareness, and attract clients.
• The business plan includes a risk analysis, identifying potential challenges, and outlining mitigation strategies.
• Instead of waiting, you can proactively address risks , enhancing the resilience of your event planning business and ensuring continuity in the face of unforeseen challenges.
• Sharing a comprehensive business plan with potential clients demonstrates professionalism and transparency.
• Entrepreneurs can use the plan to build trust with clients, assuring them of their capabilities and commitment to delivering successful events.

The Essential Elements of Successful Event Planning Business Plan

Before you get overwhelmed with all the different terms and instructions, let me assure you that writing an event planning business plan is easier than it seems. Let’s start with baby steps to go over the essential elements of a successful event planning business plan, and continue with learning how to write each of these sections for your business.

• Executive Summary
• Company Description
• Services You Offer
• Target Market
• Event Planning Market Analysis
• Marketing & Sales Strategy
• Operational Plan
• Team Structure
• Financial Projections
• SWOT Analysis
• Legal Structure
• Funding Request (if applicable)

How to Write an Event Planning Business Plan?

There are exactly 13 steps that separate you from your event management business plan. 

Each of these steps is a separate section in the plan, and we’ve got you covered with actionable tips and examples on how to write each one. We recommend you start taking notes and working on your event planning business plan along with reading further. 

1. Writing Executive Summary for Event Management Business Plan

Writing an effective executive summary for your event planning business plan is crucial, as it’s the first section potential investors or partners will read. But don’t get it twisted – the executive summary is actually the section you’ll finish at the end. The executive summary should provide a concise overview of your business and its key elements.

It’s basically a snapshot of your entire business plan, so make every word count.

Image by vectorjuice on Freepik

It should entice readers to explore the details while providing a clear understanding of the value your event planning business brings to the market.

And how do you write an executive summary for an event management business plan? We’ve prepared a step-by-step guide and an example!

Start with a strong opening

Begin with a compelling and concise introduction that grabs the reader’s attention. Clearly state the purpose of your business plan and briefly mention your mission or vision for the event planning business.

Provide a brief overview of your business

Offer a snapshot of your event planning business, including its name, location, and the types of events you specialize in. Highlight any unique aspects of your business that set you apart from competitors.

Articulate your unique selling proposition (USP)

Clearly define what makes your event planning business unique and why clients should choose your services. Emphasize any innovative approaches, special expertise, or exclusive services you offer.

Outline your key objectives

Concisely list the main objectives and goals of your event planning business. Keep these goals specific, measurable, and aligned with the overall vision of your business.

Describe your target market

Provide a brief overview of your target audience, including demographics and preferences. Highlight any niche markets or specific industries you plan to focus on.

Introduce your team

Briefly introduce key members of your event planning team, emphasizing their relevant skills and experience. Highlight any unique qualifications that make your team well-suited for event planning success.

Mention key achievements or milestones

If your event planning business has achieved notable milestones or garnered recognition, mention them briefly. This adds credibility and demonstrates your business’s track record.

Summarize your financial projections

Provide a high-level overview of your financial projections, including revenue expectations and growth forecasts. Highlight key financial metrics that showcase the profitability of your event planning business.

Include a call to action

End the executive summary with a call to action, indicating what you’re seeking from the reader (investment, partnership, etc.). Encourage further exploration of the full business plan.

Executive summary for event planning business plan example:

Executive Summary: XYZ Events

• Introduction:

XYZ Events is a dynamic and innovative event planning company located in [City, State]. With a passion for creating unforgettable experiences, we specialize in crafting seamless and unique events that leave a lasting impression. Our mission is to exceed client expectations by delivering exceptional events that reflect their vision and style.

• Key Business Information:

Founded in [Year], XYZ Events has quickly established itself as a leader in the event planning industry. We are proud to offer a comprehensive suite of services, including corporate events, weddings, and social gatherings. Our team of experienced event planners is committed to turning every client’s vision into a reality, providing meticulous attention to detail and unparalleled creativity.

• Unique Selling Proposition (USP):

What sets XYZ Events apart is our innovative approach to event planning. We leverage cutting-edge technology to enhance the planning process and create immersive experiences for our clients. Our team combines creativity with strategic thinking, ensuring that each event not only meets but exceeds expectations. Whether it’s a corporate conference, a dream wedding, or a milestone celebration, XYZ Events brings a fresh and personalized touch to every occasion.

• Objectives:

XYZ Events is poised for strategic growth over the next three years. Our primary objectives include expanding our client base, increasing revenue by 25%, and establishing key partnerships within the hospitality and entertainment industries. We are committed to maintaining our reputation for excellence while embracing new opportunities for innovation and growth.

• Target Market:

Our target market includes corporate clients seeking professional event management, couples looking for a stress-free wedding planning experience, and individuals hosting social events. We understand the unique needs of each segment and tailor our services to create memorable and impactful events.

Led by [Founder/CEO], our team comprises seasoned event planners, designers, and coordinators with a proven track record of success. Our diverse skill set allows us to approach each event with creativity and expertise, ensuring a seamless and enjoyable experience for our clients.

• Financial Projections:

XYZ Events anticipates steady growth, with projected revenue of $[Amount] in the first year and a cumulative growth rate of 20% over the next three years. Our financial projections are based on a comprehensive market analysis and a strong understanding of industry trends.

• Call to Action:

We invite you to explore the detailed business plan to discover how XYZ Events plans to revolutionize the event planning landscape. Whether you’re an investor, potential client, or industry partner, we welcome the opportunity to collaborate and create exceptional experiences together.

XYZ Events is not just an event planning company; we are architects of unforgettable moments. Join us in shaping the future of event experiences.

2. Company Description

Company description exists in your event management business plan to provide an overview of your business, its history, and its structure. But how do you create a solid company description you’ll be proud to put into your business plan for everyone to read?

Begin with a concise and engaging introduction that captures the essence of your event planning business. Clearly state the name of your company and its primary purpose. Your event management business plan should i nclude fundamental details such as the location of your business, the date it was founded, and any key milestones. You should also mention the legal structure of your company (e.g., LLC, sole proprietorship).

Company description should clearly articulate the mission and values that drive your event planning business. Express the purpose of your business and the principles that guide your operations. Another important aspect are also your services, and you should provide a brief but comprehensive overview of the event planning services your business offers. Highlight any specialties or unique aspects that set your services apart. 

More tips for company description in business plan for event hosts:

Explain the problem you solve.

Clearly articulate the problems or challenges your event planning business addresses. Describe how your services meet the needs of clients by providing solutions and creating memorable experiences.

Share your business story

Offer a brief narrative that tells the story of how your event planning business came into existence. Include any inspiration, challenges overcome, or unique experiences that shaped your business.

Highlight key achievements

Mention any notable achievements or milestones your event planning business has reached. This could include successful events, recognition, or significant client satisfaction.

Emphasize your team’s expertise

Introduce key members of your team, emphasizing their relevant skills and experience in event planning. Highlight any certifications, awards, or industry recognition your team has received.

Explain your competitive edge

Clearly define what makes your event planning business stand out from competitors. Emphasize unique features, innovative approaches, or exclusive services that give you a competitive advantage.

Discuss your growth strategy

Outline your plans for the future growth of your event planning business. Discuss any expansion plans, target markets, or strategic partnerships you’re considering.

Remember that the goal of company description is to become a solid foundation for readers to understand your company’s identity and value proposition.

3. Describing Services You Offer in Event Management Business Plan

Describing the services you offer in an event management business plan is a crucial component, as it helps potential investors, clients, and partners understand the scope and value of your offerings. It also helps you make money hosting events , so let’s see how to do it right:

• Begin by clearly defining each service you offer in your event management business. Use concise and specific language to articulate the scope and nature of each service.
• If your event management business provides a range of services, consider grouping them into categories or creating service packages . For example, you might have categories like corporate events, weddings, social gatherings, and conferences.
• Provide an overview of the planning process for each service. Outline the steps involved, from initial client consultation to post-event evaluation.
• Emphasize your ability to customize services to meet the unique needs and preferences of each client.Discuss how you tailor your approach to different types of events and client requirements.
• If you offer day-of coordination or event management services, explain the level of support clients can expect. Highlight your role in ensuring smooth event execution and addressing unforeseen challenges.
• If your event management business leverages technology tools or event management software , mention them. Explain how technology enhances efficiency, communication, and the overall event experience.
• If your services include event design and styling, describe your creative process. Showcase your expertise in creating visually appealing and thematic events.

Image by storyset on Freepik

• If you handle vendor relationships as part of your services, discuss how you source and manage vendors. Highlight your ability to negotiate contracts and secure competitive pricing.
• If your event management business assists with venue selection and logistics, explain your approach. Discuss criteria for venue selection and how you manage logistical aspects like transportation and accommodation.
• If your services involve budgeting and financial management, outline your approach. Explain how you help clients set realistic budgets and manage expenses throughout the planning process.
• If your event management business offers marketing and promotional services, detail your strategies. Discuss how you enhance the visibility of events and attract attendees.
• Include case studies or examples of past events you’ve successfully managed. Use real-world examples to illustrate the effectiveness of your services.
• Highlight your ability to adapt to different event sizes, themes, and cultural considerations. Showcase your flexibility in catering to diverse client needs.

4. Explaining Your Target Market

Explaining your target market in your event management business plan is essential for demonstrating a clear understanding of your potential clients an d how your services meet their needs.  

Because of that, you need to clearly define the demographic, geographic, and psychographic characteristics of your target audience. Identify the specific industries, groups, or individuals you aim to serve with your event management services.

If applicable, segment your target market based on different types of events (e.g., corporate events, weddings, social gatherings). Highlight any niche markets or specialized segments you plan to focus on. Don’t forget to include relevant demographic details such as age, income level, occupation, and education. Specify the size of the target market and any relevant trends within these demographics.

Psychographic factors are also important! Discuss the interests, lifestyles, and values of your target market. Explain how your event management services align with the preferences and attitudes of your audience.

More tips for explaining your target market in business plan:

Consider geographic factors

Outline the geographic locations where your target market is concentrated. If your services are location-specific, explain why you’ve chosen those areas.

Identify pain points and needs

Clearly articulate the pain points, challenges, and needs of your target market. Explain how your event management services address and alleviate these issues.

Highlight trends and market growth

Showcase any relevant trends or growth opportunities within your target market. Discuss how your event management business is positioned to capitalize on these trends.

Competitor analysis

Conduct a competitor analysis within your target market. Identify existing event management companies catering to the same audience and explain how your approach differs or improves upon theirs.

Explain your unique value proposition (UVP)

Clearly define your unique value proposition and how it resonates with your target market. Emphasize what sets your event management services apart from competitors.

Provide testimonials or case studies

If available, include testimonials or case studies from past clients within your target market. Use real-world examples to demonstrate your successful track record.

Discuss decision-making factors

Explain the factors that influence your target market’s decision-making process when choosing an event management service. Highlight how your business addresses these factors and provides solutions.

5. Event Planning Market Analysis

It’s not enough to do market analysis.

Presenting your market analysis clearly and compellingly is crucial in an event management business plan. Here is how to do it:

• Begin the market analysis section with a brief executive summary. Summarize the key findings, such as market size, growth trends, and major opportunities or challenges.
• Provide a general overview of the event management industry. Highlight the significance of the industry and the role it plays for other businesses. 
• Clearly define your target market, including demographics, psychographics, and geographic considerations. Present a detailed picture of the audience you aim to serve with your event management services.
• Present current industry trends and developments. Use charts or graphs to illustrate trends, making the information visually engaging.
• Provide estimates of the overall market size for event management services. Present historical growth data, future projections based on reliable sources and other insightful event statistics.
• Include a comprehensive analysis of your competitors. Create a chart or table that highlights key competitors, their market share, strengths, and weaknesses.
• Present the results of your SWOT analysis.
• Provide insights into the challenges and opportunities within the industry. Discuss how your business plans to navigate challenges and leverage opportunities. For example, how do your competitors effectively leverage event booking systems , and how efficient are they?
• Detail the pricing strategies and fee structures prevalent in the market. Explain your pricing strategy and how it aligns with the perceived value of your services.
• Present findings on consumer behavior when selecting event management services. Discuss factors influencing their decisions and preferences.
• Discuss the distribution channels commonly used in the event management industry. Explain how your business plans to reach and engage your target audience.
• Discuss the impact of technology on event management services. Highlight any technological advancements that your business plans to leverage such as event ticketing apps and tools .
• Explore relevant environmental and social trends influencing event planning preferences. Show how your business is aligned with or responds to these trends.
• Include selected customer feedback and testimonials. Use real-world examples to demonstrate client satisfaction and success stories.
• Incorporate visual aids such as charts, graphs, and tables to present data in an easily digestible format. Use visuals to enhance key points and make the information more engaging.

Remember to tailor the presentation of your market analysis to your specific audience —whether it’s potential investors, partners, or internal stakeholders. Clear and concise communication of your market insights will contribute to a strong and convincing event management business plan.

6. Marketing & Sales Strategy

Next chapter of your event planning business plan is developing and presenting a robust marketing and sales strategy. It’s crucial for attracting clients and investors. Here’s a step-by-step guide on how to formulate and effectively present this section:

Marketing Strategy

Target market and positioning.

• Clearly define your target market segments and demographics.
• Explain how your event management services meet the needs of these specific markets.
• Emphasize the unique value proposition that positions your business uniquely in the market.

Branding and identity

• Outline your brand identity, including logo, colors, and messaging.
• Describe how your brand reflects the values and positioning of your event management business.

Online presence

• Detail your online presence, including a professional website and social media profiles.
• Discuss the platforms you will use to connect with your audience and share updates.

Content marketing

• Explain your content marketing strategy to showcase expertise and engage your audience.
• Detail plans for blog posts, articles, case studies, or other content that demonstrates your event planning knowledge.

Search engine optimization (SEO)

• Discuss your SEO strategy to improve the visibility of your website in search engine results.
• Outline the keywords relevant to your business and how you plan to optimize your online content.

Email marketing

• Detail your email marketing strategy for reaching and nurturing potential clients.
• Discuss the types of emails you’ll send, the frequency, and the goals of your email campaigns.

Networking and partnerships

• Identify networking opportunities within the event planning industry.
• Discuss potential partnerships with vendors, venues, or other businesses that can enhance your service offerings.

Sales Strategy

Sales channels.

• Identify the primary sales channels you will utilize (direct sales, online sales, partnerships, etc.).
• Explain how these channels align with your target market and marketing strategy.

Sales team structure

• If applicable, outline your sales team structure.
• Introduce key members and their roles in the sales process.

Sales tactics

• Provide a detailed explanation of your sales tactics and methodologies.
• Discuss how you plan to approach potential clients, conduct consultations, and close deals.

Pricing strategy

• Clearly outline your pricing strategy for event planning services.
• Explain how your pricing aligns with the value you provide and competitive market rates.

Sales forecast

• Present a sales forecast outlining expected revenue based on your sales projections.
• Break down the forecast by service categories or target markets.

Customer relationship management (CRM)

• Discuss your CRM system and how it will be used to manage client relationships.
• Highlight how you plan to retain clients for repeat business.

Sales promotions and incentives

• Outline any sales promotions, discounts, or incentives you plan to offer.
• Explain how these strategies align with your overall marketing and sales goals.

Presentation Tips

• Use visuals like charts, graphs, and images to enhance the presentation. Create a visual representation of your sales funnel, conversion rates, or growth projections.
• Be concise and use clear language to communicate your marketing and sales strategies. Avoid jargon or overly technical terms that may confuse your audience.
• Present realistic and data-backed projections . Show a clear understanding of your market, industry trends, and potential challenges.

7. Operational Plan

Writing an operational plan for your event management business plan involves detailing the day-to-day operations, logistics, and processes that ensure the successful execution of events. But how do you structure and write an effective operational plan? Let’s see:

• Describe the physical location of your event management business. Discuss any facilities, office space, or storage areas you use to support your operations.
• Outline the organizational structure of your event management team. Introduce key team members, their roles, and responsibilities. Emphasize the expertise and experience that each team member brings to the business.
• Provide detailed job descriptions for each team member. Clearly define the roles and responsibilities associated with event planning, coordination, design, marketing, and any other relevant functions.
• Discuss your staffing plan, including the number of full-time, part-time, and contract staff. Detail any plans for hiring additional team members based on business growth.
• Outline your approach to training and developing your event management team. Discuss ongoing education, certifications, or workshops that contribute to professional development. 
• Detail the workflow and processes involved in event planning and execution. Provide a step-by-step guide, from initial client consultation to post-event evaluation.
• Discuss how you source, negotiate with, and manage vendors. Outline criteria for selecting vendors and maintaining strong relationships with them.
• Identify the technology tools and software you use to enhance operational efficiency. Discuss any event management plugin , project management software, communication tools, or CRM systems.
• Detail your approach to handling event logistics, including transportation, equipment, and supplies.
• Discuss how you ensure that all necessary equipment and materials are available for each event.
• Explain how you maintain high-quality standards in event planning and execution. Detail your quality control processes to ensure client satisfaction.
• Outline measures to ensure the well-being of attendees, staff, and vendors during events.
• Provide an emergency response plan that addresses potential risks during events. Outline procedures for handling unforeseen challenges and ensuring the safety of all involved parties.
• Create a timeline that outlines key milestones and deadlines for event planning and execution. Detail your approach to monitoring and evaluating the success of each event.
• Discuss feedback mechanisms, post-event surveys, and metrics used to assess performance.

8. Team Structure

Explaining the team structure in your event planning business plan provides the reader with a clear understanding of the roles and responsibilities within your organization. You should:

• Include an organizational chart that visually represents the hierarchy and relationships within your event planning team. Clearly show the positions and reporting lines.
• Identify and introduce key leadership positions within your team. This may include the founder/CEO, directors, or senior managers responsible for overall business strategy and decision-making.
• Detail the core event planning team members and their roles. Specify responsibilities such as event coordination, logistics, design, and client communication.
• Provide detailed descriptions of the roles and responsibilities for each team member. Clearly define what each position is accountable for within the event planning process.
• If applicable, detail the responsibilities and contributions of the founder/CEO. Highlight their vision, leadership, and strategic role in the company.

9. Financial Projections for Event Management Business Plan

Image by Freepik

Everybody loves money, but not many people love finances and the complications that come with it.

Creating financial projections for your event management business plan involves estimating future revenue, expenses, and profitability. If it seems complicated, it’s better to hire an expert. Here’s a step-by-step guide to help you navigate the process:

Begin by estimating your sales revenue. Break down your services into categories (e.g., corporate events, weddings) and project the number of events you expect to handle.

Consider the pricing strategy for each service and calculate the total sales for each category.

Expense projections

Identify and estimate all the expenses associated with running your event management business. This includes:

• Variable Costs: Directly tied to the number of events (e.g., event materials, transportation).
• Fixed Costs: Remain constant regardless of the number of events (e.g., rent, salaries, insurance).
• One-time Costs: Initial expenses such as marketing campaigns or setting up a website.

Gross profit margin

Calculate the gross profit margin by subtracting the total cost of goods sold (COGS) from the total revenue. This provides a measure of profitability before accounting for fixed expenses.

Operating expenses

List and estimate all operating expenses, including rent, utilities, salaries, marketing, and any other ongoing costs. Break down these expenses into monthly or annual categories.

Net profit or loss

Calculate the net profit or loss by subtracting total operating expenses from the gross profit. A positive result indicates profitability, while a negative result signals a loss.

These are all the most important financial projections, let see some additional ones you can use to strengthen your event planning business plan.

Additional financial projections for event managers:

 cash flow projection.

Create a cash flow projection to estimate the inflow and outflow of cash over a specified period.

Factor in the timing of payments from clients, vendor payments, and other financial transactions.

 Break-even analysis

Perform a break-even analysis to determine the number of events or revenue needed to cover all costs. This helps identify when your business will become profitable.

Sensitivity analysis

Conduct a sensitivity analysis to evaluate the impact of changing variables on your financial projections. Identify key factors that could influence your projections and assess their potential impact.

Financial ratios

Calculate financial ratios such as return on investment (ROI), gross margin, and others relevant to your business. These ratios offer additional insights into your business’s financial health and performance.

Pro forma balance sheet

Create a pro forma balance sheet to summarize your assets, liabilities, and equity at a specific point in the future. This provides a snapshot of your business’s financial position.

Pro forma income statement

Develop a pro forma income statement that outlines expected revenues, costs, and profits over a specified period. This statement provides a comprehensive overview of your business’s financial performance.

 Pro forma cash flow statement

Prepare a pro forma cash flow statement that shows the flow of cash in and out of your business. This statement helps ensure that your business has sufficient cash to meet its obligations.

Graphs and visuals

Use graphs and visuals to present key financial data in a clear and visually appealing manner. Visual aids can make it easier for stakeholders to understand your projections.

10. SWOT Analysis

A SWOT analysis is a strategic planning tool that helps businesses identify their internal Strengths and Weaknesses, as well as external Opportunities and Threats. Conducting a SWOT analysis for an event management business plan can provide valuable insights into its current state and potential future challenges and opportunities. Let’s see how to do it right:

Example: Experienced and Creative Team

Your event management business may have a team with extensive experience and creativity, contributing to the successful planning and execution of events.

Example: Strong Vendor Relationships

If your business has established strong relationships with reliable vendors, it can leverage these connections for better deals, quality services, and smoother event logistics.

Example: Limited Marketing Budget

If your business has a limited marketing budget, it may face challenges in reaching a broader audience and competing with businesses that invest more in promotional activities.

Example: Dependence on Key Personnel

If your business heavily relies on specific individuals, such as key event planners, their absence or departure could pose a risk.

Opportunities

Example: Growing Demand for Virtual Events

If there’s a growing demand for virtual events, your business can seize the opportunity to expand its services to meet this emerging trend.

Example: Collaboration with Local Businesses

Collaborating with local businesses or venues could open up opportunities for mutually beneficial partnerships and increased visibility.

Example: Economic Downturn

Economic downturns can lead to reduced corporate budgets for events, posing a threat to the demand for event planning services.

Example: Intense Competition

An increase in the number of event management businesses in your area could intensify competition, making it crucial to differentiate your services effectively.

SWOT Analysis Overview

Internal factors are within your control and are related to the organization itself. Strengths are positive attributes that contribute to success, while weaknesses are internal challenges that need addressing.

External factors are beyond your immediate control and involve the external environment. Opportunities are favorable external conditions that your business can leverage, while threats are external challenges that your business needs to navigate or mitigate.

11. Legal Structure

In the legal structure section of your event management business plan, you’ll outline the legal framework under which your business operates. This section is crucial for potential investors, partners, and stakeholders to understand the formal structure of your business. Let’s see the exact steps you should take to maximize the impact of this section:

#1 Clearly specify the legal structure of your event management business. Common structures include:

• Sole Proprietorship: Owned and operated by a single individual.
• Partnership: Owned and operated by two or more individuals.
• Limited Liability Company (LLC): Provides liability protection for owners.
• Corporation: Offers separate legal identity and limited liability for shareholders.

#2 Provide details about the ownership of the business. Include the names, roles, and ownership percentages of all owners or partners. Specify if there are any major investors or stakeholders.

#3 Mention the legal registration details of your business, including the business name, registration number, and the jurisdiction where you are registered. Include information about any trademarks or copyrights associated with your business.

#4 Outline how your event management business complies with local, state, and federal regulations. Specify any industry-specific regulations or licensing requirements.

#5 Detail the types of insurance coverage your business carries to mitigate risks. This may include liability insurance, property insurance, or event cancellation insurance.

#6 Highlight key contracts and agreements that govern your business operations. This might include client contracts, vendor agreements, and partnership contracts.

#7 Discuss the measures your business has taken to manage legal and operational risks.

#8 Briefly mention your exit strategy, especially if you plan to sell the business, go public, or transition ownership in the future.

12. Funding Request (if applicable)

If you want to ask for additional funds for your business, that makes your event management business plan even more important. Writing a funding request in your event planning business plan is a crucial section that communicates your financial needs, the purpose for seeking funding, and how the funds will be utilized to achieve business goals. 

Key tips for influential funding requests for event managers:

• Provide a brief overview of your event planning business. Highlight key achievements, milestones, and aspects that make your business stand out. 
• Clearly articulate why you are seeking funding. Specify the purpose of the funds, whether it’s for expansion, marketing, technology upgrades, working capital, or any other specific need.
• Outline the preferred funding structure, such as equity financing, debt financing, or a combination of both. Specify the terms and conditions you are seeking, including the desired interest rates, repayment periods, or equity shares.
• Marketing and advertising.
• Technology upgrades.
• Staffing and training.
• Event logistics and equipment.
• Working capital for day-to-day operations.
• Present relevant financial projections to support your funding request. Show how the infusion of funds will contribute to revenue growth, profitability, and other key financial metrics.
• Discuss the anticipated return on investment for the potential investors. Highlight the expected financial benefits and how their investment will contribute to the business’s success.
• Provide a realistic assessment of potential challenges and how you plan to overcome them.
• If applicable, outline your exit strategy. Explain how investors will realize returns on their investment, whether through an IPO, acquisition, or other means.
• Emphasize your business’s competitive advantage and how the funding will strengthen that position. Highlight unique features, customer satisfaction, or proprietary methods that set your business apart.
• Set clear milestones and targets that will be achieved with the funding. This demonstrates a strategic plan and helps investors understand the trajectory of your business.
• Provide a timeline for when you anticipate securing the funding and when it will be utilized. This helps investors understand the urgency and planning behind your funding request.

13. Appendix

The appendix of an event management business plan is an additional section where you can include supplementary information to support and enhance the main body of the document. It’s a place to include detailed information, data, or documents that are important for understanding your business but may be too extensive or specific to include in the main sections. Here’s a list of items that you might consider including in the appendix of your event management business plan:

• Financial documents, including income statements, balance sheets, event proposal templates , cash flow statements, and break-even analysis. 
• Market research and analysis with detailed surveys, insights, and key competitors. 
• Marketing and promotional materials
• Client testimonials and case studies:
• Legal documents such as business licenses, permits, and contracts.
• Operational documents such as SOPs (standard operating procedures), event management resources , and sample checklists you use for event planning. 
• Detailed information about any specialized event planning or project management software.
• Certificates and awards
• Articles and press clippings

Pro tip : Include a table of contents for the appendix to guide readers through the additional materials.

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Event Planning Business Plan Template [Updated 2024]

Event Planning Business Plan Template

If you want to start an Event Planning business or expand your current Event Planning or Event Management business, you need a business plan.

The following Event Planning business plan template gives you the key elements to include in a winning event planner business plan or event management business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a free Event Planning business plan template:

Event Business Plan Template I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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Event Planning Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

Event Venue Business Plan Template

Event venue executive summary.

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of event venue business you are operating and the status; for example, are you a startup, do you have an event venue business that you would like to grow, or are you operating a network of event venue businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the event venue industry. Discuss the type of event venue business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

EVENT VENUE BUSINESS PLAN OUTLINE

• Event Venue Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Event Venue Business Plan Summary

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• Net 30 Apply

Event Venue Business Plan: How to Start and Grow Your Event Space Business

Are you looking for a way to turn your passion for hosting events into a profitable business? Do you want to know how to create a successful event venue business plan that will attract investors and customers? If so, you are in the right place.

In this article, we will show you how to start and grow your event space business with a comprehensive and professional business plan. We will also provide you with a free business plan template and examples that you can download and customize for your own needs.

What is an Event Venue Business?

An event venue business is a company that provides a space for hosting various types of events, such as weddings, corporate meetings, social gatherings, sports events, and more. An event venue business can offer different services and amenities, such as catering, entertainment, equipment rental, security, parking, and more.

An event venue business can be a lucrative and rewarding venture, as it can generate multiple streams of income from different clients and events. However, it also requires a lot of planning, investment, marketing, and management to succeed in a competitive market.

Why Do You Need an Event Venue Business Plan?

A business plan is a document that describes your business goals, strategies, market analysis, financial projections, and operational details. It is essential for any type of business, especially for an event venue business, because:

• It helps you clarify your vision and mission for your business
• It helps you identify your target market and competitive advantage
• It helps you plan your marketing and sales strategies
• It helps you estimate your startup and operational costs
• It helps you forecast your revenue and profit potential
• It helps you attract funding from investors or lenders
• It helps you monitor and evaluate your progress and performance

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Hire a professional writer to write an event venue business plan?

How to Create an Event Venue Business Plan?

Creating an event venue business plan can be a daunting task, but it can be simplified by following these steps:

Executive Summary: This is a brief overview of your business plan that summarizes your business idea, goals, market opportunity, competitive edge, funding request, and financial highlights. It should be written last after you have completed the rest of the sections. Learn more on business plan executive summary .

Company Overview: This is where you introduce your company name legal structure (sole proprietorship, partnership, corporation, etc.), ownership (who owns the company), history (when and how it was founded), vision (what you want to achieve) and mission (how you want to achieve it). Check our detailed guide on business plan company overview .

Industry Analysis: This is where you analyze the current trends and outlook of the event venue industry in your area or country. You should include information such as the size, growth, demand, supply, segmentation and profitability of the industry. You should also identify the opportunities and threats that affect your business. Read more on business plan industry analysis .

Competitive Analysis: This is where you identify and evaluate your direct and indirect competitors in the event venue market. You should include information such as their names, locations, services, prices, strengths, and weaknesses. You should also explain how you plan to differentiate yourself from them and gain a competitive advantage. Learn more on business plan competitive analysis .

Customer Analysis: This is where you define and describe your target market segments and customers. You should include information such as their demographics (age, gender, income, etc.), psychographics (interests, preferences, etc.), behavior (how they search for and book event venues), needs (what they want from an event venue) and pain points (what problems they face with event venues). You should also explain how you plan to reach them and satisfy them with your services. 

Operations Plan: This is where you describe how you will run your event venue business on a daily basis. You should include information such as your location (where your event space is located), facilities (what features and amenities your event space offers), equipment (what tools and machines you need to operate), suppliers (who provides you with goods or services), staff (how many people you need to hire and what roles they perform), processes (how you deliver your services) and quality control (how you ensure customer satisfaction). Do you want to explore more, find how operations plan works in business plan .

Marketing Plan: This is where you outline how you will promote your event venue business to attract customers. You should include information such as your marketing objectives (what you want to achieve with your marketing efforts), marketing strategies (how you will use the 4Ps of marketing: product, price, place, and promotion), marketing channels (where you will advertise or communicate with your customers), marketing budget (how much money you will spend on marketing) and marketing metrics (how you will measure the effectiveness of your marketing).Find our guide on what to include in  marketing plan in business plan .

Funding Request: This is where you state how much money you need to start and run your event venue business, and how you plan to use it. You should include information such as your funding sources (where you will get the money from), your funding needs (how much money you need for each purpose), your funding terms (what interest rate, repayment period, and collateral you offer), and your funding projections (how the funding will affect your financial performance).

Financial Plan: This is where you provide the financial statements and forecasts for your event venue business. You should include information such as your income statement (showing your revenue, expenses, and profit), your balance sheet (showing your assets, liabilities, and equity), your cash flow statement (showing your cash inflows and outflows), and your break-even analysis (showing when you will start making a profit). You should also include some financial ratios (such as profitability, liquidity, and solvency) and assumptions (such as growth rate, inflation rate, and tax rate) that support your financial plan. Read more on what to include in  business plan financial plan .

Appendix: This is where you attach any additional documents or information that support your business plan, such as market research data, customer testimonials, legal documents, resumes of key personnel, contracts, licenses, permits, etc. Check more details on what to include in business plan appendix .

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Where can you get an event venue business plan template and example.

If you want to save time and effort in creating your event venue business plan, you can use a template or an example that has already been prepared for you. The following is a free event venue business plan template and an example that you can download.

• Event Venue Business Plan Template
• Event Venue Business Plan Example

These templates and examples are easy to use and customize for your own needs. They also include tips and guidance on how to write each section of your business plan.

Hire a professional who makes business plan!

Examples of event venue business plans that will assist you in writing yours.

I will give you an example with each section of Oren Co, which is an event venue business that specializes in hosting outdoor events. Here is an example:

Event Venue Business Plan: Oren Co

Executive summary.

Oren Co is a new event venue business that offers a unique and natural setting for hosting various types of outdoor events, such as weddings, corporate retreats, festivals, concerts, and more. Oren Co is located in Washington USA and operates on a 10-acre land that features a lush garden, a pond, a gazebo, a stage, a tent and other amenities. Oren Co aims to provide a memorable and enjoyable experience for its clients and guests, while also being environmentally friendly and socially responsible.

Oren Co has identified a growing demand for outdoor event venues in its area, as more people are looking for alternative and creative ways to celebrate their special occasions. Oren Co has also conducted thorough market research and competitive analysis and has found that it has a strong competitive edge over its rivals, as it offers a unique and natural setting, a variety of services and packages, affordable prices, and excellent customer service.

Oren Co is seeking $100,000 in funding to start and grow its business. The funding will be used for purchasing equipment, hiring staff, marketing and advertising, and working capital. Oren Co expects to generate $300,000 in revenue and $50,000 in profit in its first year of operation, and to break even in its second year. Oren Co also projects to increase its revenue and profit by 20% annually in the following years.

Company Overview

Oren Co is a sole proprietorship owned and operated by Mr. Oren Khan, who has over 10 years of experience in the event management industry. Mr. Khan has worked as an event planner, coordinator and manager for various companies and organizations, such as WiseBusinessPlans, Eventful Solutions and Washington USA Tourism Board. Mr. Khan has also organized and hosted several successful outdoor events for his own clients, such as weddings, corporate retreats, festivals and concerts.

Oren Co was founded in August 2023, after Mr. Khan acquired a 10-acre land in Washington USA that was previously used as a farm. Mr. Khan saw the potential of transforming the land into an event venue that could cater to the growing demand for outdoor events in his area. Mr. Khan invested $50,000 of his own savings to renovate the land and equip it with the necessary facilities and amenities for hosting events.

Oren Co’s vision is to become the leading provider of outdoor event venues in Washington USA and beyond. Oren Co’s mission is to offer a unique and natural setting for hosting various types of outdoor events, while providing high-quality services, affordable prices, and excellent customer service.

Industry Analysis

The event venue industry is a subset of the broader event management industry, which includes planning, organizing and hosting various types of events for different purposes and audiences. The event venue industry consists of companies that provide spaces for hosting events, such as hotels, resorts, convention centers, banquet halls, stadiums, theaters, etc.

According to IBISWorld, the global event management industry was worth $1.1 trillion in 2020 and is expected to grow at an annual rate of 3.6% from 2021 to 2026. The growth of the industry is driven by factors such as increasing disposable income, urbanization, globalization, technological innovation and social media. The industry is also influenced by trends such as personalization, sustainability, diversity and creativity.

The event venue industry in USA is a growing and profitable segment of the event management industry. According to Market Research Future, the event management market in USA was worth $1.2 billion in 2019, and is expected to grow at an annual rate of 8.2% from 2020 to 2025. The growth of the market is driven by factors such as increasing population, economic development, cultural diversity, tourism and entertainment.

The event venue industry in USA is also experiencing a shift in consumer preferences and behavior, as more people are looking for alternative and creative ways to celebrate their special occasions. According to a survey by Eventbrite, 78% of USA consumers prefer to spend money on experiences rather than things, and 72% of them are interested in attending outdoor events. Moreover, according to a report by Event Industry News, outdoor events are becoming more popular and profitable in USA, as they offer more flexibility, variety and affordability than indoor events.

Competitive Analysis

Oren Co faces competition from other event venue providers in its area, both direct and indirect. The direct competitors are those that offer similar services and cater to the same target market as Oren Co, such as outdoor event venues, parks, gardens etc. The indirect competitors are those that offer different services but cater to the same target market as Oren Co, such as indoor event venues, hotels, resorts etc.

Some of the main direct competitors of Oren Co are:

Green Valley: This is an outdoor event venue that offers a green and spacious setting for hosting weddings, parties, corporate events and more. It is located in Lahore, about 50 km from Oren Co’s location. It has a capacity of up to 500 guests, and offers services such as catering, decoration, entertainment, photography etc. It charges an average of $2,000 per event. Royal Garden: This is an outdoor event venue that offers a royal and elegant setting for hosting weddings, parties, corporate events and more. It is located in Islamabad, about 100 km from Oren Co’s location. It has a capacity of up to 1,000 guests, and offers services such as catering, decoration, entertainment, photography etc. It charges an average of $3,000 per event. Dreamland: This is an outdoor event venue that offers a dreamy and romantic setting for hosting weddings, parties, corporate events and more. It is located in Faisalabad, about 150 km from Oren Co’s location. It has a capacity of up to 800 guests, and offers services such as catering, decoration, entertainment, photography etc. It charges an average of $2,500 per event.

Some of the main indirect competitors of Oren Co are:

Pearl Hotel: This is an indoor event venue that offers a luxurious and modern setting for hosting weddings, parties, corporate events and more. It is located in Lahore, about 50 km from Oren Co’s location. It has a capacity of up to 500 guests, and offers services such as catering, accommodation, entertainment, photography etc. It charges an average of $4,000 per event. Grand Resort: This is an indoor event venue that offers a grand and elegant setting for hosting weddings, parties, corporate events and more. It is located in Islamabad, about 100 km from Oren Co’s location. It has a capacity of up to 1,000 guests, and offers services such as catering, accommodation, entertainment, photography etc. It charges an average of $5,000 per event. Paradise Hall: This is an indoor event venue that offers a simple and affordable setting for hosting weddings, parties, corporate events and more. It is located in Faisalabad, about 150 km from Oren Co’s location. It has a capacity of up to 800 guests, and offers services such as catering, decoration, entertainment, photography etc. It charges an average of $1,500 per event.

Oren Co has a strong competitive edge over its rivals, as it offers a unique and natural setting that appeals to the growing demand for outdoor events in its area. Oren Co also offers a variety of services and packages that suit different needs and budgets of its clients. Oren Co also offers affordable prices and excellent customer service that ensure customer satisfaction and loyalty.

Customer Analysis

Oren Co’s target market consists of individuals and organizations that are looking for an outdoor event venue for hosting various types of events, such as weddings, parties, corporate retreats, festivals, concerts etc. Oren Co’s target market can be segmented into two main groups: personal customers and business customers.

Personal customers are those who are looking for an outdoor event venue for hosting their personal or social events, such as weddings, parties, anniversaries etc. These customers are mainly motivated by factors such as personal preference, emotional value, social status and word-of-mouth. These customers are mainly located in Washington USA and nearby regions, and have an average income of $10,000 per year.

Business customers are those who are looking for an outdoor event venue for hosting their business or professional events, such as corporate retreats, team building activities such as corporate retreats, team-building activities, seminars, workshops etc. These customers are mainly motivated by factors such as business objectives, cost-effectiveness, convenience and reputation. These customers are mainly located in Washington USA and nearby regions and have an average income of $50,000 per year.

Oren Co’s target market is large and growing, as more people and organizations are looking for alternative and creative ways to celebrate their special occasions. According to a report by Event Industry News, the outdoor event market in USA is expected to grow at an annual rate of 10% from 2020 to 2025. Oren Co’s target market is also profitable, as the average spending per event is $2,500 for personal customers and $5,000 for business customers.

Oren Co’s target market is also accessible and reachable, as Oren Co can use various channels and methods to promote its services and attract its customers, such as online platforms, social media, referrals, partnerships etc. Oren Co can also leverage its location advantage, as it is situated in a strategic and convenient location that is easily accessible by road and public transportation.

Marketing Plan

Oren Co’s marketing plan consists of four main elements: product, price, place and promotion.

Product: Oren Co’s product is its outdoor event venue that offers a unique and natural setting for hosting various types of events. Oren Co’s product also includes its services and packages that provide catering, decoration, entertainment, photography and other amenities for its clients and guests. Oren Co’s product is designed to meet the needs and expectations of its target market, as it offers flexibility, variety and affordability.

Price: Oren Co’s price strategy is to offer competitive and reasonable prices that reflect the value and quality of its product. Oren Co’s price strategy also aims to attract and retain its customers, as well as to generate revenue and profit for its business. Oren Co’s price strategy is based on factors such as market demand, competitor prices, cost of production and profit margin. Oren Co’s average price per event is $2,500 for personal customers and $5,000 for business customers.

Place: Oren Co’s place strategy is to distribute its product through its own physical location that serves as its outdoor event venue. Oren Co’s place strategy also involves using online platforms such as its website and social media accounts to showcase its product and communicate with its customers. Oren Co’s place strategy is intended to make its product available and accessible to its target market, as well as to create a positive image and reputation for its business.

Promotion: Oren Co’s promotion strategy is to use various channels and methods to advertise and promote its product and business to its target market. Oren Co’s promotion strategy also aims to create awareness, interest and desire for its product, as well as to encourage action and loyalty from its customers. Oren Co’s promotion strategy includes the following activities:

Online marketing: Oren Co will use online platforms such as its website, social media accounts, email newsletters, blogs etc. to showcase its product, share its stories, testimonials and reviews, offer discounts and incentives, and interact with its customers and potential customers.

Offline marketing: Oren Co will use offline channels such as flyers, brochures, banners, posters etc. to display its product, highlight its features and benefits, and provide its contact details and location. Referral marketing: Oren Co will use word-of-mouth and referrals to spread the word about its product and business, and to generate positive feedback and recommendations from its customers and partners. Oren Co will also offer rewards and incentives for referrals, such as discounts, vouchers, freebies etc.

Partnership marketing: Oren Co will partner with other businesses and organizations that are related or complementary to its product and target market, such as event planners, caterers, decorators, entertainers, photographers etc. Oren Co will also partner with local media outlets, influencers, celebrities etc. to gain exposure and publicity for its product and business.

Financial Plan

Oren Co’s financial plan consists of three main components: startup costs, income statement and cash flow statement.

Startup costs: Oren Co’s startup costs are the expenses that are required to start and launch its business. Oren Co’s startup costs include the following items:

Equipment: This includes the purchase of equipment such as tables, chairs, tents, stage, sound system, etc. The total cost of equipment is $30,000.

Staff: This includes the hiring of staff such as event manager, event coordinator, event staff etc. The total cost of staff is $10,000.

Marketing: This includes the expenses for marketing activities such as online marketing, offline marketing, referral marketing and partnership marketing. The total cost of marketing is $5,000.

Legal: This includes the fees for legal services such as registration, licensing, permits etc. The total cost of legal is $2,000. Miscellaneous: This includes the costs for other items such as insurance, utilities, maintenance etc. The total cost of miscellaneous is $3,000. The total startup costs for Oren Co are $50,000.

Income statement: Oren Co’s income statement is a summary of its revenue and expenses for a given period of time. Oren Co’s income statement for the first year of operation is as follows:

Revenue: This is the amount of money that Oren Co earns from its product sales. Oren Co’s revenue is calculated by multiplying the number of events by the average price per event. Oren Co expects to host 100 events in the first year, with an average price of $3,500 per event. Therefore, Oren Co’s revenue for the first year is $350,000.

Expenses: This is the amount of money that Oren Co spends on its business operations. Oren Co’s expenses include the following items:

Cost of goods sold: This is the cost of producing and delivering its product. Oren Co’s cost of goods sold is calculated by multiplying the number of events by the average cost per event. Oren Co estimates that the average cost per event is $1,500, which includes the costs of catering, decoration, entertainment, photography and other amenities. Therefore, Oren Co’s cost of goods sold for the first year is $150,000.

Operating expenses: This is the cost of running and managing its business. Oren Co’s operating expenses include the following items:

Staff: This is the cost of paying salaries and wages to its staff. Oren Co estimates that it will have 10 staff members in the first year, with an average salary of $1,000 per month. Therefore, Oren Co’s staff expense for the first year is $120,000.

Marketing: This is the cost of conducting marketing activities to promote its product and business. Oren Co estimates that it will spend 10% of its revenue on marketing in the first year. Therefore, Oren Co’s marketing expense for the first year is $35,000.

Legal: This is the cost of paying fees for legal services such as registration, licensing, permits etc. Oren Co estimates that it will spend 5% of its startup costs on legal in the first year. Therefore, Oren Co’s legal expense for the first year is $2,500.

Miscellaneous: This is the cost of paying for other items such as insurance, utilities, maintenance etc. Oren Co estimates that it will spend 5% of its revenue on miscellaneous in the first year. Therefore, Oren Co’s miscellaneous expense for the first year is $17,500.

The total expenses for Oren Co are $325,000.

Profit: This is the amount of money that Oren Co earns after deducting its expenses from its revenue. Oren Co’s profit is calculated by subtracting its expenses from its revenue. Therefore, Oren Co’s profit for the first year is $25,000. Cash flow statement: Oren Co’s cash flow statement is a report of its cash inflows and outflows for a given period of time. Oren Co’s cash flow statement for the first year of operation is as follows:

Cash inflows: This is the amount of money that Oren Co receives from its product sales and other sources. Oren Co’s cash inflows include the following items:

Revenue: This is the same as the revenue in the income statement. Oren Co’s revenue for the first year is $350,000. Loans: This is the amount of money that Oren Co borrows from banks or other lenders to finance its startup costs and working capital. Oren Co plans to obtain a loan of $40,000 with an interest rate of 10% per annum and a repayment period of 5 years. Therefore, Oren Co’s loan inflow for the first year is $40,000. The total cash inflows for Oren Co are $390,000.

Cash outflows: This is the amount of money that Oren Co spends on its business operations and other purposes. Oren Co’s cash outflows include the following items:

Startup costs: This is the same as the startup costs in the financial plan. Oren Co’s startup costs are $50,000. Expenses: This is the same as the expenses in the income statement. Oren Co’s expenses for the first year are $325,000. Loan repayments: This is the amount of money that Oren Co pays back to its lenders for its loan principal and interest. Oren Co’s loan repayments are calculated by using an amortization table. According to the table, Oren Co’s loan repayments for the first year are $10,200.

The total cash outflows for Oren Co are $385,200.

Net cash flow: This is the amount of money that Oren Co has left over after subtracting its cash outflows from its cash inflows. Oren Co’s net cash flow is calculated by subtracting its cash outflows from its cash inflows. Therefore, Oren Co’s net cash flow for the first year is $4,800.

Oren Co is a new business that offers an outdoor event venue for hosting various types of events in Washington USA. Oren Co has a strong competitive edge over its rivals, as it offers a unique and natural setting that appeals to the growing demand for outdoor events in its area. Oren Co also has a large and profitable target market that consists of individuals and organizations that are looking for an alternative and creative way to celebrate their special occasions. Oren Co also has a comprehensive marketing plan that uses various channels and methods to advertise and promote its product and business to its target market. Oren Co also has a realistic financial plan that shows its revenue and expenses projections, as well as its cash flow analysis. Oren Co expects to generate a profit of $25,000 and a net cash flow of $4,800 in the first year of operation.

Oren Co is confident that it can achieve its goals and objectives, as it has a clear vision, mission and values that guide its business decisions and actions. Oren Co also has a dedicated and experienced team that works hard to deliver high-quality products and services to its customers and guests. Oren Co also has a positive and optimistic attitude that helps it overcome any challenges or difficulties that it may face along the way.

Oren Co hopes that this business plan will convince potential investors and partners to support its business venture and help it grow and succeed in the outdoor event industry.

Learn how to write business plan!

Event venue business plan faqs.

Permits and licenses vary by location, but generally, you’ll need a business license, zoning permits, health and safety permits, and possibly a liquor license.

Use online platforms like your website and social media, offer competitive pricing, exceptional customer service, and network with event planners and industry professionals.

Effective strategies include having a visually appealing website, utilizing social media, collaborating with local event vendors, hosting open houses, and offering discounts for initial bookings.

Clear communication with clients, comprehensive event contracts, detailed checklists, and assigning a dedicated event coordinator or team are essential for managing event logistics.

Typical costs include rent/mortgage payments, utilities, insurance, maintenance, marketing, staff salaries, and event-specific expenses like catering and audiovisual equipment.

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Event Planning Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Entertainment Industry » Event Planning

Are you about starting an event management business ? If YES, here is a complete sample event planning business plan template & feasibility report you can use for FREE .

One good thing about event planning is that most often than not, events are done during weekends and if you are lucky not to be working during weekends, you can successfully test run an event planning business. The truth is that, most of the basic skills needed to effectively run an event planning business are some of the soft skills you are likely going to acquire in your workplace.

On the average, it is the practice for most standard event planning companies to handle all aspect of event planning that ranges from wedding planning, to annual general meetings (AGM), to corporate events, to end of year parties et al. This is so because there are little or no difference with the planning and execution of events. However, you can decide to build your event planning company around an area of specialization in the industry.

What It Takes to Start an Event Management Business?

As a professional event planner, you would have been trained on how to engage your clients in such a way that they should be able to answer any question you may ask them regarding the event or any related topic that will help you deliver a fantastic event.

Over and above, the service delivery for an event planner covers budgeting, scheduling, venue selection, acquiring necessary permits, coordinating transportation and parking, arranging for keynote speakers, motivational speakers, master of ceremony (MC) or entertainers, arranging decor, event security, catering and emergency plans .

The hallmark of an event is when the success benchmarks are meet or even surpassed. So part of what you need to ask your client as a professional event planner is to know key measurable areas where they would want the event to be assessed.

It could be the numbers of participants that attended the event, the feedbacks they got from the event and it could be any success indicator as agreed by the organizers of the event.

A Sample Event Planning Business Plan Template

1. industry overview.

Event planning is all about helping corporate organizations, government, groups and individual plan and execute their events from start to finish. An event planner ensures that they work with the stipulated budget of the organization or individual and ensure that they deliver a successful event as agreed.

In some cases, it is the responsibility of the event planner to draw – up a budget for the organizer of the event once they get a brief of the nature of the event. Events planning require that you take off the burden of planning an event from the shoulders of your clients. This is whether it is a corporate or informal event.

Therefore, you would need an eye for details in addition to the eye you have got. Confused? Do not be, that was on a lighter note. Now, the truth is that you would need to be extremely detailed. You do not want to come across your clients as one who leaves some kills important details out. If you do not possess this skill now, you may consider building it up.

The key to a successful event is to ensure that all that is listed in your event planning checklists is ticked. As a matter of fact, if you undergo event planning training, you are going to be taught how to draft event planning checklists for various events and key components that must be listed in your checklists.

The event planning is such an industry that needs you to be vast and well informed about news about the industry. What does this mean?

This means that you have got to be alert about everything as it concerns events planning all around the globe. You may consider reading up a whole lot- do not be far away from information. You can successfully pull off being a researcher off by reading books on this business, as using the internet.

According to Inside Business, the event planning industry is expected to grow to 20% with the median income of an event planning being $42,180 a year.

This industry is expected to grow to over 60,000 jobs. Statistics has it that the top 5 highest paying location in the united states for event planners and their average annual earnings are; Virginia – $54,770, New York – $57,300, New Jersey – $57,730, Massachusetts – $58,860, Washington DC – $67,120.

So also the top 5 states in the United States with the highest numbers of employment for event planners are; California with 7,730 event planners are employed, New York – 7, 250, event planners are employed, Texas – 6,320,event planners are employed, Florida – 3,560, event planners are employed, Virginia – 3,500 event planners are employed.

No doubt the event planning / management industry cannot be said to be over saturated despite the fact that the entry bar for starting an event planning business is pretty low. As an event planner, if you are creative and hardworking, you can successfully create your own steady market. It is safe to say the industry is still growing especially with the advent of new social media platforms.

For example in recent times, a world class event planning / management company in city in the United States of America can successfully organize an event with active participants from all over the globe participating in the event without living their country. This is possible with the aid of teleconference, and Skype et al.

Some of the factors that encourages entrepreneurs to start their own event planning business could be that the business is easy to set up, the start – capital is indeed affordable and the running cost can be put at the minimum level; you can actually start your own event planning business from the comfort of your home. All you need to do is to create an office somewhere in your house.

Lastly, event planning / management business is not restricted to just organizing conferences, corporate events or parties, but also organizing big international events such as Olympic and United Nations Events.

2. Executive Summary

Tony & Tammy House of Events LLC is an all – round event planning company that will be based in Las Vegas – Nevada.

The company will handle all aspect of event planning such as wedding planning, children’s party, sports tournaments / competitions, annual general meetings (AGM), to corporate events, trade fairs and exhibitions, end of year party, party rental services, event planning trainings and event planning consulting and advisory services et al.

We are aware that to run an all – round event planning outfit can be demanding which is why we are well trained and equipped to perform excellently well. Tony & Tammy House of Events, LLC is a client-focused and result driven event planning outfit that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients.

We will offer a standard and professional event planning services to all to our individual clients, and corporate clients at local, state, national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they contract their events to our organization.

At Tony & Tammy House of Events, LLC, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in a wide variety of event planning et al.

Tony & Tammy House of Events, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Our plan is to position the business to become the leading brand in the event planning line of business in the whole of Nevada, and also to be amongst the top 20 event planning outfits in the United States of America within the first 10 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Las Vegas is the right place to launch our event planning business before spreading to other parts of The United States.

Tony & Tammy House of Events, LLC is founded by Mr. Tony Angelo and his wife Tammy Angelo. The organization will be managed by both of them since they both have tangible experience working at various capacities within the entertainment and event planning industry in the United States.

As a matter of fact, Mr. Tony Angelo who is the Chief Executive Officer of the organization was part of the team that organized Atlanta 96® Olympics and the wife in time past has worked with the team responsible for organizing Grammy Awards.

Mr. Tony Angelo graduated from both University of California – Berkley (First Degree), and University of Harvard (MSc.).

3. Our Products and Services

Tony & Tammy House of Events, LLC is going to offer varieties of services within the scope of the event planning and entertainment industry in the United States of America. Our intention of starting our event planning outfit is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.

Our business offering is listed below;

• Wedding Planning
• Corporate Event Planning
• Outdoor Party Planning
• Annual General Meetings
• Sports Tournaments / Competitions Planning
• Children’s Party and Birthdays Party Planning
• Party Rental Services
• Event Planning Trainings (Training School)
• Event Planning Consulting and Advisory Services

4. Our Mission and Vision Statement

• Our vision is to build an event planning brand that will become the number one choice for both individual clients and corporate clients in the whole of Las Vegas – Nevada.
• Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to provide professional and trusted event planning services that assist individuals, businesses and non-profit organizations in organizing all of their events.
• We are to position the business to become the leading brand in the event planning line of business in the whole of Nevada, and also to be amongst the top 20 event planning outfits in the United States of America within the first 10 years of operations.

Our Business Structure

Tony & Tammy House of Events, LLC will build a solid business structure that can support the growth of our business. We will ensure that we hire competent hands to help us build the business of our dream. The fact that we want to become one of the leading event planning outfits in the United States makes it highly necessary to deliberately build a well – structured business from the onset.

Below is the business structure that we will build Tony & Tammy House of Events, LLC on;

• Chief Executive Officer

Event Planning Consultant

Event Planning Training and Development Consultant

• Wedding Planning Consultant

Admin and HR Manager

• Business Developer

Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office:

• Responsible for providing direction for the firm
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for handling high profile clients and deals
• Responsible for fixing prices and signing business deals
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board
• Responsible for interviewing and hiring vendors, selecting and ordering materials, negotiating rates, coordinating the sequence of events, following up with guests and vendors and producing full-scale events.
• Plans, designs and produces events while managing all project delivery elements within time limits
• Liaises with clients to identify their needs and to ensure customer satisfaction
• Conducts market research, gather information and negotiate contracts prior to closing any deals
• Provides feedback and periodic reports to stakeholders
• Proposes ideas to improve provided services and event quality
• Organizes facilities and manage all event’s details such as decor, catering, entertainment, transportation, location, invitee list, special guests, equipment, promotional material etc
• Ensures compliance with insurance, legal, health and safety obligations
• Specifies staff requirements and coordinate their activities
• Cooperates with marketing and PR to promote and publicize event
• Proactively handle any arising issues and troubleshoot any emerging problems on the event day
• Conducts pre- and post – event evaluations and report on outcomes
• Researches market, identify event opportunities and generate interest
• Manages the organization’s event planning training school
• Coordinates training programs facilitated by Tony & Tammy House of Events, LLC
• Writs winning proposal documents, negotiate fees and rates in line with company policy
• Identifies training and development needs for staff through job analysis, appraisals and consultation
• Facilitates and coordinate strategic sessions.
• Works directly with clients in a non-advising capacity, such as answering questions, scheduling appointments and making sure all training concerns are properly taken care off
• Responsible for handling all trainings both internal and external trainings

Wedding Planner / Consultant

• Assists the bride and groom with everything from a timeline and budget to the choice of flowers, wedding location, musicians, caterers, and the choice of the groom’s tuxedo.
• Responsible for making sure that all the details of the big day play out smoothly as planned
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Design job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily office activities.

Marketing Executive

• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with company policy
• Responsible for handling business research, marker surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps increase sales and growth for the company
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Client Service Executive

• Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
• Receives Visitors / clients on behalf of the organization
• Receives parcels / documents for the company
• Handles enquiries via e-mail and phone calls for the organization
• Distributes mails in the organization
• Handles any other duties as assigned my the line manager

6. SWOT Analysis

Tony & Tammy House of Events, LLC engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a well – structured event planning outfit that can favorably compete in the highly competitive event planning and entertainment industry.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Tony & Tammy House of Events, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Tony & Tammy House of Events, LLC;

Our core strength lies in the power of our team; our workforce. We have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.

As a new event planning outfit, it might take some time for our organization to break into the market and gain acceptance in the already saturated event planning and entertainment industry; that is perhaps our major weakness.

• Opportunities:

The opportunities in the event planning and entertainment industry is massive considering the number of weddings, parties and other events that takes places on a daily basis in the United States. As an all – round event planning outfit, we are ready to take advantage of any opportunity that comes our way.

Some of the threats that we are likely going to face as an event planning outfit operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing power. There is hardly anything we can do as regards this threat other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The event planning and entertainment industry is in a continuous state of evolution and as such, ground breaking strategies and ideas that are once highly successful are no longer as productive as they were in time past. Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools.

The trend also extends to increased attention, paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning events, and of course increase in demands from event sponsors.

As a matter of fact, social media has now become one of the most important tools event planners leverage on to disseminate information about their events, interact with attendees, solicit feedback, and create year-round engagement with their target audience.

Furthermore, new software apps and emerging technology have made it easier for event and wedding planners to gather all the needed data and information that will help them plan and project for the future.

In recent time, mobile event apps are becoming more popular; event planner can now successfully host events via social media platforms / online platforms. In the United States for example, there several vendors providing mobile apps with more event planners patronizing the apps.

Over and above, with the invention of event apps, it is now compulsory for event planners and venue owners to offer Wi-Fi throughout the event, in all meeting rooms. The truth is that it will no longer be acceptable to not have Wi-Fi accessible at events; people will hardly rent halls without Wi-Fi facility.

8. Our Target Market

Although Tony & Tammy House of Events, LLC will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to be able to compete with the leading event planning and management companies in the United States.

As an all – round event planning / management outfits, Tony & Tammy House of Events, LLC offers a wide range of services hence we are well trained and equipped to services a wide range of clientele base. Our target market cuts across people of different class and people from all walks of life, local and international organizations as well.

We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses. Below is a list of the people and organizations that we have specifically design our products and services for;

• Potential Couples / Young Adults
• Blue Chips Companies
• Corporate Organizations
• Religious Organizations
• Political Parties / Politicians
• Households / Families
• The Government (Public Sector)
• Schools (High Schools, Colleges and Universities)
• Sport Organizations
• Entrepreneurs and Start – Ups

Our competitive advantage

We are quite aware that to be highly competitive in the event planning and entertainment industry means that you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference cum improvement and you should be able to meet the expectations of both participants and organizers of events.

Tony & Tammy House of Events, LLC might be a new entrant into the event planning and entertainment industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified event planners / managers and wedding planners in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups event planning and event management companies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Tony & Tammy House of Events, LLC is established with the aim of maximizing profits in the event planning and entertainment industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients.

Tony & Tammy House of Events, LLC will generate income by offering the following event planning / management services for individuals and for corporate organizations;

10. Sales Forecast

One thing is certain, there would always be parties and events in the United States of America and as such the services of event planning / event management companies will always be needed.

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Las Vegas to other cities in Nevada and other states in the U.S.

We have been able to critically examine the event planning and entertainment market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Las Vegas – Nevada.

Below is the sales projection for Tony & Tammy House of Events, LLC, it is based on the location of our business consulting firm and the wide range of consulting services that we will be offering;

• First Year-: $150,000
• Second Year-: $650,000
• Third Year-: $1,000,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiffer competition amongst event planning companies in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing. Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.

We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard event planning business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our event planning company to become one of the top 20 event planning companies in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Las Vegas but also in other cities in the United States of America.

Tony & Tammy House of Events, LLC is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our business by sending introductory letters alongside our brochure to corporate organizations, schools, households and key stake holders in Las Vegas and other cities in Nevada.
• Promptness in bidding for event planning / event management contracts from the government and other cooperate organizations
• Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
• List our business on yellow pages ads (local directories)
• Attend relevant international and local expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets and still deliver quality event planning services to them
• Leverage on the internet to promote our business
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the event planning and entertainment industry by storm which is why we have made provisions for effective publicity and advertisement of our event planning outfit.

Below are the platforms we intend to leverage on to promote and advertise Tony & Tammy House of Events, LLC;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
• Install our Bill Boards on strategic locations all around Las Vegas – Nevada.
• Engage in road show from time to time
• Distribute our fliers and handbills in target areas
• Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

12. Our Pricing Strategy

Just like in consulting business, hourly billing for event planning / event management services is also a long – time tradition in the industry. However, for some types of event planning / management services, flat fees make more sense because they allow clients to better predict the overall service charges. As a result of this, Tony & Tammy House of Events, LLC will charge our clients both flat fee and hourly billing as long as it favors both parties.

At Tony & Tammy House of Events, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises.

We are aware that there are some clients that would need regular access to event planning consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

• Payment Options

At Tony & Tammy House of Events, LLC, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

13. Startup Expenditure (Budget)

Starting an event planning business can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment.

Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount to purchase the required software applications, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.

When it comes to starting a small scale event planning / event management company, the following expenditure should guide you;

• The Total Fee for incorporating the Business – $750.
• The budget for basic insurance policy covers, permits and business license – $2,500
• The Amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000.
• The Cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $ 5,000
• The Cost of Launching your official Website – $600
• Budget for paying at least one employees for 3 months plus utility bills – $10,000
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
• Miscellaneous: $1,000

Going by the report from the market research and feasibility studies conducted, we will need over two hundred and fifty thousand (250,000) U.S. dollars to successfully set – up a medium scale but standard event planning business firm in the United States of America.

Generating Funding / Startup Capital for Tony & Tammy House of Events, LLC

Tony & Tammy House of Events, LLC is a family business that will be owned by Mr. Tony Angelo and his wife Tammy Angelo. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is easier for businesses to survive when they have steady flow of business deals / customers patronizing their products and services. We are aware of this which is why we have decided to offer a wide range of event planning and other related services to both individual and corporate clients.

We know that if we continue to deliver excellent event planning services, there will be steady flow of income for the organization. Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members.

In the nearest future, we will explore the options of either selling out franchise or expanding our scope beyond Las Vegas – Nevada to other major cities in the United States of America. We know that if we implement our business strategies, we will achieve our business goals and objectives in record time, as well as become a household name .

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the start – up capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in the industry: In Progress

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Global Event Planning Business Plan

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GlobeSpan Meeting Planners, Inc.

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

GlobeSpan Meeting Planners, Inc. (GlobeSpan) will be formed as a company specializing in the representation of meeting planners from all industries. The founders have over 17 years experience in the hospitality industry working with both domestic and international meeting planners. GlobeSpan will allow the founders to utilize their expertise with meeting planners while working with hotels and resorts across the globe.

GlobeSpan Meeting Planners will partner with HelmsBriscoe, the industry’s largest and finest meeting and conference resource firm thus placing a full service meeting operational division at GlobeSpan’s disposal.

1.1 Mission

It is the mission of GlobeSpan Meeting Planners to be the top producing member of the HelmsBriscoe meeting planning alliance by providing the highest quality service to our clients. By providing a total meeting resource including hotel/resort site searches, rate and contract negotiation, as well as recommendations for complete event planning, on-site management, airline assistance, and cruise assistance at no cost to the client, GlobeSpan becomes a time-saving “one-stop shop.” GlobeSpan is a perfect, no-cost alternative to the hassle of in-house meeting planning. GlobeSpan will be compensated by the hotels/resorts, and by the complete event planning/airline/cruise assistance offered by HelmsBriscoe’s Resource One at the rate of six percent of gross revenues generated, paid in commission. GlobeSpan provides an easy, valuable alternative for its clients, and a flexible work environment with equitable compensation for its founders.

1.2 Keys to Success

There are four key elements we will accomplish to succeed:

• Utilize the unique expertise of both owners to offer increased value to the client.

1.3 Objectives

• To completely repay small business loan of $50,000 by July 1, Year 4.

Business Climate

GlobeSpan Meeting Planners is a knowledge-based small business start-up on the cutting edge of what has been deemed the “new economy” by The Wall Street Journal . Selling expertise, they go on to say, is the basis of the present and future economy. Start-ups are growing at three times the rate of the national economy. In addition, The Wall Street Journal states “creativity is overtaking capital as the principal elixir of growth.” Cognetics, a business information tracking firm, calls the surging significance of small to mid-sized businesses the economy, stressing the significance of this new segment of businesses.

Additionally, in a recent study by Credit Suiss First Boston, knowledge is now acting as a substitute for physical assets for the new businesses. They are also quoted as saying “in a knowledge-based economy, there are no constraints on growth.” These are all excellent indications that the economic foundation is strong for the launch of GlobeSpan.

Specifically, the $100 billion meeting industry is strong and GlobeSpan will be a profitable player within the industry.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

GlobeSpan, in strategic alliance with HelmsBriscoe, will provide a time-saving and valuable event planning service to companies who have a lack of destination/meeting planning knowledge, are understaffed or unable to take on the time consuming task of site selection/meeting planning, or want to take advantage of our free expert site selection. With hotel/resort partners worldwide, as well as cruise/air/production/program planning partners at Resource One, the best fit for the clients’ needs will be found while generating maximum revenue for GlobeSpan.

3.1 Company Ownership

GlobeSpan Meeting Planners, Inc. will be a privately held Arizona S corporation based in Goodyear. The company is currently in the process of filing for incorporation with the Arizona Corporation Commission. The owners, Tracey Latkovic, former Director of sales of a major Arizona resort, and Kerry Feltenberg, former director of catering/conference services of a major Arizona resort, will have equal shares in the company.

3.2 Start-up Summary

Start-up costs are $4,800 and will be financed by the owners. An additional $50,000 is needed to cover the first six months of client searches. The following chart and table outline the assumed distribution of expenses, assets, investment, and loan liability.

3.3 Company Locations and Facilities

The company will be located in Goodyear, Arizona, with a second office in Avondale, Arizona. The owner’s home offices will be linked electronically to ensure real-time communication.

GlobeSpan Meeting Planners does worldwide hotel/resort searches, and provides recommendations for those which best match the client specifications free to the client, as GlobeSpan is compensated by the hotel/resort. Additionally, GlobeSpan refers clients to Resource One to provide in-depth meeting planning, production, airline, and cruise assistance.

4.1 Service Description

GlobeSpan plans to provide two basic services to its clients:

• Other Services : GlobeSpan will take advantage of the strategic alliance with HelmsBriscoe’s Resource One and have available all of the resources of a large meeting company. GlobeSpan will recommend airline and cruise bookings, management of hotel room blocks, and full-service meeting production. GlobeSpan will be compensated by HelmsBriscoe by commission on a per program basis.

4.2 Competitive Comparison

There are three categories of competitors, all of which have distinct weaknesses compared to GlobeSpan Meeting Planners:

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• Small “mom and pop” competitors, which are solely owned and operated by one individual, offer site searches to the client. GlobeSpan has the advantage over this type of company by offering a more professional service to the client and the buying/full-service power of the HelmsBriscoe alliance.

4.3 Sales Literature

As part of the benefits of the alliance with HelmsBriscoe, a full-color brochure describing the business with client testimonials, as well as a four-1/2 page color insert describing the features and benefits of the site selection service will be provided by HelmsBriscoe to GlobeSpan. Additionally, four inserts, each four-1/2 page color, describing Resource One, Housing Solutions, Cruises, and Air Partner, will be provided by HelmsBriscoe to GlobeSpan.

Letterhead, with our logo is also provided by HelmsBriscoe, will be used to send customer-specific sales letters and tailored proposals. Shell sales letters and client proposals will be established. Request for proposal letters with an area for hotels/resorts to acknowledge payment of commission will also be established.

Online “brochures” will be created to email to clients. A regular monthly newsletter will be created to email to clients as a reminder of services offered.

All collateral pieces will convey the features, benefits, value, service, and professionalism of GlobeSpan Meeting Planners.

4.4 Fulfillment

We will fulfill the clients’ needs by dividing tasks based on the area of expertise of each owner.

First, by providing professional salesmanship, customer service and follow-up based on the specific needs of the client.

Second, by providing detailed, knowledgeable interaction with the hotels/resort to match them with client needs, as well as understanding and recommending additional services such as air, cruise, production, room block management, etc.

4.5 Technology

Technology is essential to today’s meeting planner. GlobeSpan Meeting Planners will stay on the cutting edge of technology.

• Other Technology . Utilizing communication advantages such as Caller ID, call forwarding from office telephones to cellular telephones to ensure every call is answered, and a message system which allows callers who receive a message to page an owner for an immediate response. Additionally, the two home offices will be linked to ensure both calls and the database can be accessed in both places.

4.6 Future Services

Future plans for expansion have been discussed, and include the marketing of materials/books to meeting planners on the “how to’s” of event planning and selling those materials, both online and by offering “seminars” to promote the information.

Also, in the future, GlobeSpan may offer on-site lead conference management either alone or in conjunction with Resource One.

Market Analysis Summary how to do a market analysis for your business plan.">

From the past experience of GlobeSpan Meeting Planners’ founders, small- to mid-sized companies that are not located in major metropolitan areas (i.e suburbs, smaller cities, rural areas) are not primary targets for other event planning companies and hotel/resort chains, and in general, are more receptive to solicitation. Therefore, these areas will be targeted.

Additionally, strategically focusing on companies who have not been represented by meeting planning firms or utilized meeting planning search firms in the past should bring us new clients.

Those who have a need for event planning services are companies with a lack of hotel/resort/destination knowledge, no on-site meeting planner, and/or no time to concentrate on site search details.

5.1 Market Segmentation

Some potential client profiles are as follows:

Corporate In the corporate segment, internal corporate meeting decision makers range from designated meeting planners, to administrative assistants, to company presidents. These potential customers are planning corporate group (10 or more rooms) meetings which range from small board to national sales meetings and can range from one to several hundred meetings per year. The corporate window for event planning can be as little as one month to as long as several years.

Incentive Incentive planners are a subgroup of the the corporate segment specializing in reward-based high-end group travel. Again, the decision makers can vary from office to office. They plan group incentive trips to, generally, resort destinations which can range from the top ten company executives to several hundred sales personnel. Typically, the window for incentive travel is between three months and one year due to the “qualification” imposed by the company on the personnel to attend the meetings (i.e. meeting sales quotas, hitting budget, etc.).

Association Associations, according to their by-laws, must typically have a specific number of meetings per year. Thus, the association planner’s calander is set years in advance. Usually, an association will have a few board meetings and one or more large conventions/trade shows per year. The potential customer is typically an on-site meeting planner, the executive director or the entire board.

Social/Military/Educational/Religious/Fraternal (SMERF) This market segment, sometimes referred to by its acronym SMERF, represents events which are planned by designated individuals who may be somewhat unfamiliar with meeting planning, such as social committee members, military personnel, teachers, pastors, or fraternal organization officers. This market segment’s meetings are typically mid-range to low budgeted events (usually due to the diverse economic status of the members and the need to avoid excluding any attendees due to costs).

5.2 Service Business Analysis

GlobeSpan is a meeting planning resource firm. Third party companies, as they are commonly referred to by hotels and resorts, consist of firms who represent a small group of specific hotels/resorts, and mega meeting/incentive “houses,” which provide full services including airfare, housing, and on-site program administration, as well as large and small site search firms.

Due to the strategic alliance with HelmsBriscoe, GlobeSpan Meeting Planners, Inc. will be instantly recognizable to meeting professionals as part of the hospitality industry’s largest and finest meeting and conference resource firm. We will have the challenge of establishing ourselves with customers as a “client advocate,” not a hotel/resort representative, and separate ourselves from the mega-firms by the quality of personal service we offer.

5.2.1 Business Participants

The business presence in the third party portion of the meeting industry breaks down largely as follows:

Mega Meeting/Incentive Houses Advantage: These companies offer full service, from airfare to post-program follow-up, and offer the leverage and buying power of a large company because they have “preferred” vendors with whom they do large volume. Disadvantage: These companies are so large, they offer very little “custom” service for the client. Timely follow-up is always a concern when utilizing a very large company. The client will have many contacts for different services within the company. These companies often advocate the “preferred” vendors with whom they do more business than the actual client.

National Site Search Firms Advantage: These companies offer a time saving service to the client and are able to research any hotel/resort worldwide. Disadvantage: Many of these firms have become so large that the individual sales contact does not even remember which program from which client he/she may be working on at a given time. A resort may follow-up to propose a better offer for the customer, and the sales contact does not have the time or care to do any more than provide the initial information to the client. These companies are limited to site searches and can offer no other event planning assistance/value to the client.

Small Site Search Firms Advantage: These companies can offer good customer service and timely follow-up to the client. Disadvantage: These companies are so small and independent, most do not have the knowledge to offer the correct assistance to the client. Additionally, they do not have any leverage/buying power with hotels/resorts and lack a network of associates to offer any other information than what is presented by the hotel/resort salesperson to the clients.

5.2.2 Competition and Buying Patterns

As previously mentioned, the Professional Convention Management Association reports a rising trend to use third-party services. Planners are choosing that route for various reasons. They are finding that mergers within the hotel/resort industry are creating a more profit and less service-oriented business climate. Third-party planning companies are chosen to provide expert advice/recommendations. Overall, in the competitive atmosphere of third-party companies, there are several reasons why certain companies are chosen over others:

• Personal Service. Potential customers do not want to feel like they are one of many other clients. They want personalized service.

5.2.3 Main Competitors

GlobeSpan’s competitors include:

Note: All competitors names have been removed for confidentiality.

5.3 Target Market Segment Strategy

Prospecting is the key to success. We must consistently bring in new customers to use our site selection service and who we can potentially upsell our other alliance services. To increase the success of prospecting, we must create targeted lists which fit the criteria of a future client. These lists will be compiled utilizing resources available to GlobeSpan Meeting Planners including, but not limited to, the Official Meeting Planners Guide, Meeting Planners International Directory, Executive Women International Resources, etc.

After ascertaining a potential customer by prospecting, we must follow though with efficient site recommendations based on the exact client needs, and always remember to upsell the additional client services to add value to our services for the client and increase possible revenues.

5.3.1 Market Growth

The growth potential in the meetings industry is strong. Currently, over $100 billion is spent annually on meetings, according to MeetingNews. In a study by Deloitte & Touche, conventions, expositions, meetings and incentive travel is listed as the twenty-second largest contributor to the gross national product. This spending is expected to grow between 2.9-4.2% per year, according to the Convention Liaison Council.

All indicators seem to predict growth within the meeting planning industry. In the Convene Magazine 8th Annual Market Survey, 89% of meeting professionals reported flat or increased meeting attendance expected for 1999 versus 1998. Likewise, PriceWaterhouseCoopers reported that upscale and full-convention hotels recorded over 70% occupancy in 1999, versus the average of 64.5% occupancy reported in 1997.

Growth within the corporate, association, incentive and SMERF market segments are conservatively estimated to grow at a rate of three percent, two percent, and three percent, and remain flat, respectively over the next few years.

5.3.2 Market Needs

Our target potential clients have a need for assistance in meeting planning/hotel/resort/destination expertise. They are looking for no-cost time saving options to allow them to prioritize other company tasks for which they are responsible. They have a need for a “silent” partner (GlobeSpan Meeting Planners) which will make them “look” better to their company. They range from secretarial level to company president and have the same information gathering and time-saving needs for different reasons. Those employees responsible for meeting planning want you to communicate with them on their terms. They require whichever mode of communication is most comfortable for their busy schedule, including email, fax, telephone, cellular telephone, messaging, and paging options. They want buying power with hotels/resorts, preferential treatment with their dates/patterns, knowledge of all destinations worldwide, and efficiency in the presentation of site search findings.

Within the target marketing segments, corporate, association, incentive, and social/military/educational/religious/fraternal (SMERF), the following situations may exist, creating a need for the services offered by GlobeSpan:

• Meeting Planners who need to concentrate on internal meeting content and have little or no time to complete the time consuming task of site selection and/or airline coordination, on-site production, hotel room block management, etc.

5.3.3 Market Trends

More meetings are being planned by key corporate industries, such as the pharmaceutical, medical, automotive, financial, high technology and e-commerce industries, largely due to the success of these industries in the current bullish economy. Thus, a need to outsource some of the work associated with that increase. Additionally, associations are seeing an increase across the board in membership participation making industry meetings larger and more complex.

Strategy and Implementation Summary

GlobeSpan, with our strategic alliance with HelmsBriscoe, will offer the great customer service of a small company; yet, offer the services of a big company to our clients. With aggressive prospecting, follow-up, and attention to detail, GlobeSpan will exceed the needs of the four target market segments. We will develop our niche market–those clients needing a “silent partner” to save them time and offer intelligent solutions–by targeted sales and service. We will commit to a consistent “review and change” process by which we can anticipate the needs of the marketplace and implement change to stay competitive.

6.1 Competitive Edge

There are several competitive edges that GlobeSpan Meeting Planners has over its competitors. First, over national representation firms, GlobeSpan has the freedom and ability to present any hotel/resort as a solution to the customer, we are not restricted to a few retainer hotels/resorts. Second, we can offer the services of a big company but are still small enough to offer great customer service to the fastest growing segment of businesses–small-to mid-sized. Third, while national site search firms are limited to just finding a destination for the customer, through our alliance with HelmsBriscoe’s Resource One, we have the ability to help with all aspects of the meeting, as well as offer assistance with airfare and cruises. Fourth, although small search firms can only offer limited knowledge and service, our alliance with HelmsBriscoe allows us access to over 180 associates and databases detailing the experiences at each destination.

Overall, GlobeSpan will offer the best of both worlds–small-company service with big company expertise.

6.2 Marketing Strategy

The owners’ 17 years experience in the industry will bring a wealth of contacts with whom to build a network of referrals. We will utilize the marketing materials offered by HelmsBriscoe as a foundation, and build upon the quality letters, proposals, newsletters and reminder cards. We will be able to market like a small company with big company clout. We will benefit from the national marketing efforts of HelmsBriscoe, such as national advertising, national partnership marketing with hotels/resorts, Web marketing such as HotDateHotRates.com, HelmsBriscoe.com, HBMeet-Market.com, FirstOptionHB.com, the HelmsBricoe quarterly newsletter, and several international industry events per year, such as the Industry Summit.

6.2.1 Promotion Strategy

GlobeSpan will consistently ask clients for referrals and will keep in contact with customers by direct mail to update clients with new information and reasons to utilize our services. We will concentrate on complete client trust and strive to exceed client expectations, which will ultimately cultivate repeat business and increase referrals.

6.2.2 Pricing Summary

GlobeSpan Meeting Planners will offer its services free of charge to the client. From the property in which the client books the meeting, GlobeSpan will receive a 10% of total rooms revenue commission. Between three and four percent of this commission will go to HelmsBriscoe in return for the services described herein. The total commission for the company will break down as follows:

Although it does not seem like a large jump, for example, one percent commission on $10 million would translate to $100,000 for GlobeSpan. So it does add up significantly as our revenue numbers grow.

6.2.3 Marketing Programs

Our marketing programs for the first five months of operation are listed in our milestones chart. Specifically, we intend to get the word out with direct mail. All other national marketing efforts will be handled by HelmsBriscoe. At the end of the five months, we will re-evaluate our position based on meeting/exceeding our sales forecast and will make adjustments for the next six months accordingly.

6.2.4 Positioning Statement

For those companies, associations, and organizations who need time-saving, reliable, honest, and intelligent assistance with site searches and meeting planning, GlobeSpan can provide the timely follow-up, integrity, advocacy, and custom solutions of a small company while offering the leverage, technical and meeting destination knowledge of a big company. Unlike the national representation firms, GlobeSpan is not on retainer with specific hotels/resorts and, therefore, can offer objective solutions to the client’s custom meeting needs.

6.3 Sales Strategy

The features of GlobeSpan, combined with it’s no-cost service to the client, will assist in closing sales. We must stress to the client that our commission will not increase the price paid by the client to the hotel/resort and ensure the hotels/resorts utilized are consistent with this promise. To ensure future sales, we must have incredible follow-up and personalized customer service. We must create so much value in our service that planning a meeting without us would be viewed by the client as a mistake.

6.3.1 Sales Forecast

Our sales forecast in the appendix of this plan details our anticipated commissions. This is a very conservative estimate based on the actual history of sales of one of the owners. Please note the plan outlines the quarterly nature of corporate sales (our major segment) and tends to be lower during the beginning of a quarter (January through March would be one quarter) and heavier toward the close of the quarters. We anticipate no referral commission at first, however, we do anticipate that that commission will slowly and steadily increase over time.

Example: To achieve a $3,000 commission in month one, we are anticipating closing $50,000 in rooms revenue or approximately one contract at, for example, 75 rooms for four nights at a rate of $175 actualized in August. This would yield a $3,000 commission which is 6% of $50,000. The rest of the forecast is figured with the same reasoning.

6.3.2 Sales Programs

Our sales programs for the first five months of operation are listed in our Milestones chart. Specifically, we intend to qualify our customers utilizing industry directories such as the Meeting Planners Guide and other relevant resources, create planner specific letters and proposals based on each segment’s different needs, follow-up with telephone solicitation and personal letters and perform future follow-up in the form of friendly direct mail and telephone calls. At the end of the five months, we will re-evaluate our position based on meeting/exceeding our sales forecast and will make adjustments for the next six months accordingly.

6.4 Strategic Alliances

We will form a strategic alliance with HelmsBricoe Performance Group. This alliance will allow GlobeSpan access to many helpful items:

• By utilizing the “permission marketing” of HelmsBriscoe, GlobeSpan is immediately recognized as the country’s largest meeting and conference resource firm. No introduction or start-up advertising is necessary.

6.5 Milestones

The following table offers our benchmarks for success. GlobeSpan has assigned each task to an owner and have very specific completion dates for each task.

As demonstrated, we are focused on marketing and sales. By ending the milestones in January, we are demonstrating a business philosophy–constant evaluation and change for the better. It is our intention to spend a week every six months thinking and evaluating the current status of our business and designing a new milestone charge for the future, which integrates our successes and creates new ideas for the future.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

The owners of GlobeSpan Meeting Planners have over 17 years of experience in the hospitality industry. With the knowledge of all aspects of event planning, from initial hotel contact to final hotel billing, we offer a solid base of information from which the customer can draw. The founders of GlobeSpan have worked with many potential planner customers already on the resort side and have demonstrated competence in meeting site selection and planning.

We will rely on Resource One to outsource any upsold services such as air/meeting development/program administration/destination management/production/on-site negotiations. Uniquely, GlobeSpan will earn commission on this outsourcing and it will provided at no charge to GlobeSpan.

7.1 Organizational Structure

The two owners will divide the responsibilities of the business. While both will decide on major company matters, the day to day operation will be divided into two major sections:

• Hotel/resort contact, site selection and upsell of additional services.

Administrative work will be divided equally as necessary among the owners with a part-time administrative staff position becoming available as soon as deemed appropriate by both owners to free the owners for direct client/hotel/resort contact.

7.2 Management Team

GlobeSpan is committed to sales and service. Tracey Latkovic, former director of sales of a major resort, has taken on the sales role within the company. Kerry Feltenberg, former director of catering/conference services of a major resort, has taken on the service role within the company. This leaves no expertise out and provides a solid foundation for GlobeSpan.

Kerry Feltenberg reached executive level at [confidential], one of the most prestigious resorts in the nation, as director of catering/conference services. Her education includes the designation of CMP, certified meeting professional, which requires ongoing education, publication of articles in industry journals and public speaking engagements. A very successful professional, Kerry adds former President of Executive Women International to her list of achievements.

Tracey Latkovic is the former director of sales for [confidential], responsible for a five year personal achievement of over $21 million dollars in room sales. Her education includes a bachelor of science in aeronautical engineering with a minor in mathematics. She has been honored by Today’s Arizona Woman Success Magazine as one of the Top Ten Women in Business and Industry.

7.3 Personnel Plan

The table below outlines our payroll for the owners over the next three years. In year one, we are planning on a modest salary of $4,000 per owner per month to cover existing living expenses. This salary will increase a modest 4.8% in fiscal year 2002 and again a modest 4.8% in fiscal year 2003. We feel our dividends from growth will supplement our income in year two and three. The detailed monthly personnel plan for the first year is included in the appendix.

Financial Plan investor-ready personnel plan .">

As a service or knowledge-based corporation, GlobeSpan Meeting Planners, Inc. will begin with very little start-up costs, and one long-term loan to allow the owners the ability to establish the company. As indicated on the following charts and tables, GlobeSpan will grow to need fewer funds over time to maintain growth. By year five, GlobeSpan will be completely debt-free and working with nearly the same overhead as it did on day one.

8.1 Important Assumptions

The following table of General Assumptions outline our conservative general assumptions on an annual basis. A monthly outline of the important assumptions is included in the appendix. Overall, we are assuming the forecasted business climate as outlined in the Business Climate Section will remain steady. Additionally, we assume our strategic partner, HelmsBriscoe’s positioning within the industry will continue to grow.

8.2 Key Financial Indicators

GlobeSpan shows, in the Key Financial Indicators chart which follows, three Benchmarks: Sales, Gross Margin, and Operating Expenses. We expect sales to grow steadily over the next three years while our gross margin remains unchanged and our operating expenses only rise slightly over the next three years.

8.3 Break-even Analysis

The following chart and table summarizes our monthly break-even analysis, with fixed costs at approximately $10,200 and commission needed at the same to break even.

8.4 Projected Profit and Loss

GlobeSpan’s projected income statement is shown in the following table. We show a conservative first year with approximately $120,000 in commissions; however, this grows to over $170,000 in 2002, and over $280,000 in 2003. With relatively low operating expenses, our net profits nearly quadruple in the second year, and almost double in the third. We have offered a detailed monthly outline of income in the appendix.

8.5 Projected Cash Flow

As demonstrated by the Projected Cash Flow Chart below, GlobeSpan’s cash balance is healthy, with our projected cash flow being negative for our first few months and then a slow recovery during the remainder of the year. Our net cash flow for fiscal year 2001 is -($21,600) with our cash balance at $28,000. Significant to note, in year one our long-term borrowing repayment will amount to over $12,800. A detailed monthly cash flow analysis is provided in the appendix.

8.6 Projected Balance Sheet

GlobeSpan has planned for success as outlined, this is evident in the projected balance sheet below. Our net worth will be a -($11,800) in year one to almost $127,000 in year three. We have outlined monthly estimates in the appendix.

8.7 Business Ratios

GlobeSpan’s projected business ratios are illustrated in the following chart. It is noteworthy that our net working capital will quadruple by year three and our debt to net worth ratio shrinks to an impressive 0.57 by year three. We look forward to healthy ratios for profitability, risk and return. The final column, Industry Profile, contains ratios based on the personal services industry, as defined by the Standard Industry Classification (SIC) Index code 7299.

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