Becoming an event planner can be a great career choice for an entrepreneur with excellent organizational skills. Weddings, corporate events, and other private parties are all within a good planner’s range of motion, where the responsibility for a flawless “big day” create an opportunity for “big money.” Planners generally do not need to keep inventory, and may easily work independently from home. Packages to be offered range from hourly consulting services, to full service weddings. There are different ways to structure a planning business depending on the skills and offerings of the planner. Depending on the size of events, a planner may wish to hire an assistant.

The tables below depict the common issues and costs associated with an event planning business.

Political	Labor laws – ensuring that staff (if any) is eligible to work in the US.
Economic	Disposable income to pay for “the big wedding”
	Business market growth such that there is demand for events; shrinking markets indicate shrinking demand
Social	Marriage trends
	The appearance of hosting corporate events
Technological	Record keeping – software and hardware
	Handling money and processing payments
	Advertising online and using social media
Environmental	No major environmental concerns
Legal	Providing planning services for different types of weddings or religious services
	Liabilities, including from subcontractors
Major Activities	Associated Costs	Cost Driver
Planning and coordinating the event	the value of your time	number of hours
Managing subcontractors	the value of your time; value of contractor time	number of hours
Catering/food prep (subcontractor), if applicable	price of foods selected; prep time	number of guests

 

Projected Expenses
Employee Costs including benefits	Year One Cost per month
Owner	$          3,500
Book Keeper – Outsourced	$              800
Legal – Outsourced	$              800
Wages Subtotal	$          5,100
Taxes, Fees	$              765
Subtotal	$          5,865
Office/Facility
Facility Expense (deductible part of home)	$              250
Electric	$                25
Internet/Telephone	$              100
Office supplies	$                25
Computers/Hardware	$              250
Subtotal	$         650
Marketing Costs
Web site hosting and advertising	$              200
Web site updates	$              100
Business Cards, Pens, Swag	$                50
Subtotal	$              350
Liability Insurance	$                50
Subtotal	$                50
Projected Monthly Costs	$          6,915