How to Start an Event Planning Business from Home
Many people are slowly working from home, making it easier for the number of freelance event managers in Dubai to skyrocket like never before. It is without a doubt that there is no better time than the present to start your event planning business. While there are many ways to run a successful event management business, you need to do a lot of prep work, even before landing your first customer.
While it is now clear that many event managers prefer to work from home, one of the biggest worrying factors affecting beginners is the limited resources at their disposal. For starters, many things ought to be considered when setting up the business, including how to pay rent, taxes, and other added costs related to starting such a business in the UAE.
In this article, we will explore the reasons why working from home on your events planning business is prudent, backed by a quick guide on how to make it successful.
Compelling Reasons to Start an Event Planning Business from Home
Perhaps you are employed and would like to test the waters of entrepreneurship as a freelance events manager in the UAE. Well, you do not need a lot to help you start pursuing your passion. Here are five compelling reasons for one to start their event planning business from home.
1. Low costs
All you need to be a work-at-home event planner is a computer, a mobile phone, and a stable internet connection. Working from home will relieve you of the stress related to renting out an office space, which ultimately strains your finances as a beginner.
2. Cutting on work commutes
As a beginner, every minute and every penny matters a lot towards the establishment of your company. Working from home saves you tons of time which would have otherwise been spent on the commute to work — productivity increases.
Furthermore, you will not only be saving on your transport expenses but also you will be taking away the street temptations that would easily fritter away your money.
For starters, you don’t really need to have a dedicated room at your home to set up a workspace. You can simply get a section of the house that has no distractions, and you are good to go. Having a dedicated room can be worked on as time goes by because at some point you might be required to bring in more furniture, equipment, and other office supplies.
Moreover, you may have to get a space where you will be hosting your clients during meetings, that is if you are comfortable with having them over. If not, you may decide to meet them at their desired location or at some of the best locations where freelancers meet with their clients in Dubai.
One of the benefits of being a freelancer is the flexibility that comes with it – the freedom to work from anywhere. Sometimes, one can be hard-pressed with a project whose deadline is fast approaching, and they may not feel safe working from their offices into the late hours.
Well, this can be regarded as a problem of the past if you work from home. Also, you may have international calls with different time zones in the comfort of your home without inconveniencing you or your clients.
5. Homeworking perks
There are many other advantages to working from home, including more storage space, paying no or reduced business rates, getting tax relief, and having to offset a percentage of the household running expenditure.
While these elements tend to vary from one region to another in the UAE, it is paramount to check on the relevant insurance policies for your business operating from home.
A Quick Guide to Setting Up Your Event Planning Company from Home
Research has it that close to 80% of new businesses survive in their first year, while half of them don’t make it to after five years. Only a third make it to a decade in operation. Starting an events management business is not a decision to take lightly, as it impacts not only your life but also that of those close to you. However, if you are passionate and determined to pursue it, then nothing should stop you.
There are a million and one tips on how to start and run your business as a beginner freelance events planner in Dubai, however, these five golden tips will have you up and running within a short period.
1. Equip yourself the necessary skills
You should never get into a business blindly, and this is no exception. There are many tips on how to get started as an events manager that could be of use to your startup company. Get the relevant training and experience, and you will have a clear direction of where you wish to take your company.
2. Pick a niche.
There are are many types of events one can decide to venture into. Some events managers are generalists while others choose a specific field in which they wish to set a name for their brand and work towards perfecting the art there. It is no brainer that the latter is more likely to succeed in the business as they will ultimately gain the trust of people and clients will search for them in huge numbers.
As a beginner, you should look for a niche and try to make your name there. Set yourself apart from the competition and give potential customers the reasons to go for you and not the others. One of the easiest ways to do this is by identifying your strengths and weaknesses. Always try to maximize your strengths.
3. Build an effective business plan
Just as in the case of any other type of business, you will have to establish your business goals and the strategies you will be using moving forward. This is a powerful tool that can be used to not only show you a clear direction for your company but also be used to present to the outside world and win clients.
An effective business plan should consist of the following:
- A summary of what your business is all about, and what makes it different from the competitors
- The industry analysis – which gap you wish to fill in the industry
- Customer analysis – what your clients will look like
- An appendix of all your supporting documents, including contracts, marketing materials, etc.
- Know your pricing – one of the most critical factors to consider are the pricing strategies for your event management business and stick to them.
4. Market your business.
Marketing your event planning business is a core activity that will determine how your business will reach potential customers. There are tons of ways of doing so, meaning you have to look for at least three that have a lot of impacts and that you will enjoy doing daily.
Using social media to market your events management business is a good idea as it is more likely to reach more people, and you will rest assured of getting more engagements and traffic driven to your site when done well.
Other options include email marketing, blogging, banners, brochure, etc.
5. Capitalize on investment
As your cash flow builds up, you will want to pump more cash into the business and make to grow even further. Only then can you really grow the business, and at some point, you may need a helping hand, leading to you creating a bigger team.
Starting your own event planning business might sound like a longshot for now, but with every step that you take, you get closer to making your dream a reality. Good luck on your journey of becoming among the best freelance events managers in Dubai.
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