A party planning business can be a fulfilling and profitable opportunity for someone who is social, organized, detail-oriented, and has a flair for entertaining and coordinating events. Unlike other startups, a party planning business does not require much capital or dedicated space. However, figuring out how to start a party planning business does require some basic steps that are similar to all home based ventures, as well as those that are unique to the field.
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Editor s note: This article was excerpted from Start Your Own Event Planning B usiness (Entrepreneur Press, 2015).
According to Goldblatt s research, profits in this industry continue to rise. Just a few years ago, Goldblatt says, the average profit margin for an event planning entrepreneur was around 15 percent. His most recent studies, however, show profit margins can be as much as 40 percent. He attributes the industry s good health to several factors, including the improved economy and the trend of corporate America to outsource their meeting-planning functions. Since you re not some tech startup bidding for programmers , you can get started without a lot of money.
Are you interested in starting an event planning business from home? If YES, here is a complete guide to starting an event planning business with NO money and no experience.
Okay, so we have provided you an in-depth sample event planning business plan template. We also took it further by analyzing and drafting a sample event planning marketing plan backed up by actionable guerrilla marketing ideas for event planning businesses. In this article, we will be considering all the requirements for starting an event planning business. So put on your entrepreneurial hat and let’s proceed.
A business plan is a formal statement of business goals , reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
Business plans may target changes in perception and branding by the customer , client, taxpayer , or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their investment return in that timeframe. 
Do you fondly remember your favorite childhood toys? Do you have happy memories of long games of Monopoly or Risk? Do you find younger kids perspectives interesting and often funny? When you see older kids horsing around, do you sometimes get the urge to join in?
If you answered yes to these questions, chances are you enjoy children and the way they play. Chances are also good that you d enjoy being a part of that play time. You can achieve that by starting a kids-related business. As you ll discover in this article, now is a great time to do it.
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Party halls are booked on rent for many events like weddings, birthday parties, bridal showers, engagement, corporate events, family reunions, church benefits and varied other events. To start a party hall one needs to be prepared to offer some associated services such as catering, decoration, music, event planning also coordinate or provide referrals to customers.