If you are a parent, working from home can be ideal. It allows you to make your own schedule and keep an eye on your little ones while you work.
Many entrepreneurs start out working at home as this allows them to cut down on expenses and leaves them with time to spend with their families.
If you are a parent who is thinking of launching a home-based startup, event planning can be ideal. You can do most work at home or on location, so an office is not necessary.
However, you will need to make certain considerations to ensure your business will be a success. Here are some things you should think about.
Define the Type of Event Planning You Would Like to Do
There are many different types of event and parties including corporate events, social events and charity events. These can be further broken down into niches.
For instance, a corporate event can be a product or company launch, a conference or a holiday party. A social event can include a birthday, surprise party or anniversary…and the list goes on.
It is best to start of deciding which niche you would like to specialize in…and the more specific the better. Once you establish a name for yourself within that niche, you can consider branching out.
Get the Legalities Taken Care Of
You may not need a license for your business, but it is best to talk to a lawyer to make sure you are good to go. It’s also a good idea to talk to an attorney to determine how to handle your taxes.
Learn About the Industry
If you’re pursuing a career in the event planning industry, it’s likely you already have the gift of creativity as well as some experience under your belt. That being said, you probably still have a long road ahead of you.
Research carefully to find out about the latest trends in event planning and marketing. Learn what technology is being used to make planning easier. Find out about the best venues, staff and musical entertainment to use for your events.
The more you know, the better prepared you will be when your business takes off.
Take a Look at the Competition
A good businessperson always has their eye on the competition.
Look at other event planners in your area to see what they are offering in terms of service and prices. Then do what you can to be competitive and bring something unique to the table.
Doing a SWOT analysis, determining Strengths, Weaknesses, Opportunities and Threats can also help you to get ahead.
Choose a Name
Once you have all this information in place, you will need to create a business plan. This starts by choosing a name.
The name you choose should be unique so that it helps your company stand out from its competitors, but it should also give people some idea of what you do. To make it memorable, keep it short and sweet.
Set up Your Home Office
Decide what you need to get your work done. A printer? Another computer? Additional devices? Make sure you are well prepared for opening day.
Define Your Services
Think of what your services include. Will you be providing invitations? Booking caterers? Videographers? Security? Venues? And what about decorations? Will those be provided?
Determine what services are included in your packages so you know exactly what to tell your customers when they start calling.
Set Your Prices
Several things need to be considered when setting prices. These include the following:
- What does the competition charge?
- What are my expenses?
- What is my level or expertise?
- What’s included in my services?
Once you come up with answers to these questions, you should be prepared to come up with pricing that is reasonable.
Grow Your Business
Now that your business is ready to launch, you need to start advertising.
Advertising can take several forms. Digital media is a great outlet as it’s low cost and effective. Digital media can include any of the following platforms:
- Social media
- Web sites
- PPC advertising
- Paid advertising and banner ads
- Customer reviews and testimonials
And while digital marketing is definitely taking the spotlight that doesn’t mean there aren’t other types of advertising that can help you get ahead. These include the following:
- Flyers and brochures
- In person networking
- Newspaper and magazine ads
Using a combination of these mediums will help you get the word out and grow your business.
Event planning can be the ideal business for a parent who wants to start working from home. It’s fun, it’s flexible and it can easily be done from the comfort of a home office. Familiarize yourself with the industry so you can do all you can to be successful in your career.