How to open or set up an event management company

An organization or event management company is responsible for the planning, execution, and monitoring of ceremonies, weddings (wedding planner), parties, conventions, competitions, seminars, conferences, etc.

The organization of events often includes the establishment of budgets, dates, selection, and reservation of the venue of the event, acquisition of licenses and the coordination of transportation and parking. And depending on the event it can also provide speakers and alternative speakers, an organization of the decoration, tables, chairs, tents, emergency plans and health and cleaning professionals.

If you are thinking about setting up a management company or event organization, see some interesting tips below.

How to open or set up an event management company:

  1. Business process

Although there is no specific routine, you need to have a lot of discipline and organization. In general, the basic steps for the organization of an event are: meetings to determine the needs of the client, preparation of the project itself (including costs), presentation of the proposal to the client, hiring of providers for diffusion services (mail direct, press) and supervision of the work of the suppliers.

Anyway, it occurs in three steps:

Before the event:

  • Develop sponsorship processes and fundraising.
  • Advice on the choice of official transport and hotels.
  • Create a logo, administrative parts, and disclosure of the event.
  • Create and/or expand the “mailing” (database of potential or virtual customers).
  • Develop a “lay-out” (physical layout) of auditoriums, offices, VIP rooms, press, coordination, etc.
  • Prepare a plan for the selection, purchase or rental of materials, services, and equipment of third parties.

During the event:

  • Mount the physical structure according to the “lay-out”.
  • Control the installation and daily operation of the contracted services.
  • Advice on the development of the ceremony.
  • Coordination of executive secretariat services.
  • Control of the physical conditions of the environment.
  • Monitoring and supervision of the “coffee break” service, cleaning and organization.

After the event:

  • Present reports and accounts.
  • Send thank-you letters to sponsors, collaborators, and suppliers.
  • Organize files of general documentation of the event.
  • It is important to note that many of the services can be outsourced (photography, video, buffet, decoration, waiters, sound equipment, receptionist, illuminators, etc.)
  1. Make a market study

Before opening an event organization business, it is necessary to conduct a market study. Is your city or region in need of good events? Is there a demand for various types of events? What can be improved in the production of local events? Do you have an innovative idea? All these questions are very relevant answers to define how to act. Also, remember that events are not just parties; they also include conferences, concerts, seminars, sports, etc. A great advice is to find out the type of event that is most in demand in your area and specialize in it.

Image Source: Google Image
  1. Be a specialist in events

To be a good event organizer, you need to know everything a bit: administration, marketing, communication, etc. Try to read about the subject, take courses, etc.

  1. Do a financial planning

Starting a business without doing financial planning is a very high risk. Economists recommend that you make a reservation that can cover your expenses if the company stays up to three months without income.

  1. Legalization of your company

If you do not know anything about the documentation needed to open an event organizing business, the best thing you can do is hire a lawyer. It is he who will help you prepares the paperwork and will instruct you on issues of rights and duties that your company will have to fulfill.

  1. The use of the Internet in your favor

Make people know your brand. Create a site and make your work known to the public. The important thing is to present information about your work, your contacts, and your portfolio.

  1. Have a list of suppliers in your event management business

To organize events, it is important to contact a list of providers. Therefore, make a check-list with the telephone number of architects, carpenters, box erectors, buffets, beverage suppliers, cameramen,

photographers, assistants, cleaning, and security personnel. In short, any type of service or equipment that you need to assemble your events.

  1. Networking

A good start is to attend fairs, conferences, and seminars. Connecting with key people in the areas of marketing and public relations helps since they are the ones that usually order the services of event organization.

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