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Re: Corporate event planner looking to start own business Jun 12, 2008 7:37 PM
Events324, aAt the risk of merely providing more "common knowledge," you're in a highly competitive business. I have a couple of sourcebooks and industry directories that I rely on for corporate event planning contacts. For the city you list in your profile (Lithia), I see 82 event planners listed within a 25 mile radius, and 4 within the same zip code. (Teamtwi, for your city I see 107 competing firms within a 25 mile radius, and 6 in the same zip code.) These are just the firms that specialize in corporate events, not weddings and such.
The firms listed fall into two distinct tiers. The top tier companies are in the event planning business. The second tier firms offer event planning services, but don't really do enough of that to sustain a full time operation -- so it's either a secondary profit center for a business that does other things, or it's a part-time business for someone like a former in-house corporate event planner who quit to start a family.
In either case, the event planning firms that seem to be doing best are niche players . . . they don't claim to be everything to everybody, but rather experts at one specific aspect. For instance, in your area one firm specializes in planning fundraiser events; one specializes in events that require advanced audio/visual and technology support; one specializes in events that require a lot of catering and negotiated union contract services; one specializes in events that involve a lot of hospitality activities that involve local history and entertainment. Their listings and websites include photos and videos of the events they've coordinated, and they have numerous client testimonials and endorsements to confirm their experience and expertise.
Event planning is a business that's built on reputation -- so one of the first steps in your planning process should be to decide what you want your niche and reputation to be, then start creating that image and capability. Once you have that in place, pitch to every potential client that would want what you you have to offer. The more you pitch, the sooner you'll find a client who was let down by a second tier firm, can't afford a top tier firm, and is willing to give you a chance. Deliver, and you'll very likely have both repeat business and a valuable source for referrals -- in other words, you'll be off and running.
Hope that helps. Best wishes.