How to Start an Event Planning Business
Do you have the passion of becoming one of the most sought after freelance event managers in the UAE? Well, your dream is not far from being a reality as there are very few, simple steps one needs to undertake before they become successful in the industry. Nothing should hold you back even if you are all alone.
There are many stories of how to solo event planners have trampolined their way to minting millions off the business. There has been a recent increase in the number of people migrating from employment to creating their own businesses, being their own bosses, and in most cases venturing into something they have passion in.
Event planning has been the ultimate career choice for many entrepreneurs since almost every person attends different types of events several times a month. Research also has it that close to 41% of marketers believe that events are more effective than other methods in pushing for brand identity.
With these facts in mind, you are almost now convinced that this is the way for you to follow. But the road isn’t as easy as it seems since there are a few things that ought to be considered before starting an event planning business.
Anyone that wishes to become a freelance event manager in Dubai needs to understand that it is not all glamorous industry. Just like the case for many other businesses globally, one has to put in a lot of hard work and dedication. So what are the steps that are needed for an events management business to succeed?
1. Boost your skills and experience
The long-term success for any business depends on the level of skill and experience you bring to the table for your clients. For starters, you have to know how the events industry works and how you should expect your new business to be run.
You can as well conduct further research on the industry standards that will be expected of you, as long as the types of people you will have to create a network with, in your line of business. For some other people, one of the best ways to earn skills and relevant experiences is to work for a while, at some of the best event management companies in Dubai.
Nevertheless, this field depends on how much creative one can get and their ability to withstand the pressures associated with event management. Other skills that one should possess are time management, negotiation skills, people skills, and most importantly, attention to detail.
2. Find your niche
It is always advisable to get into a business based on your previous experiences. If you were much into corporate events planning, there is no point for you to dive into other sectors on your first try.
At least go with the field in which you are familiar with all the nitty-gritty surrounding it. Determine your market accordingly taking into account all your strengths and weaknesses.
Some capital which is to cover all the initial costs should be made available whenever you intend on starting an events management company. Some of these costs which you may incur at the start include business permits, registrations, and the purchase of the necessary equipment.
4. Establish payment strategies
Once you have decided on which services you will be offering, you should consider their compensation as well. The ultimate pricing structure for your events management business should be conscious of the various ways all the expenses will be covered while you still earn your profit.
Apart from thinking about the pricing structure on its own, it is also paramount to consider the various ways you can get paid. Many freelance event planners in the UAE charge based on the following:
- Flat fee
- Hourly rate
- Percentage of expenses
- Commissionable rate
- A portion of expenses plus an hourly rate
5. Plan your marketing approach
If you are a seasoned event planner, then you will know that marketing is a vital part of the industry. The majority of events have their success rates measured by the numbers of attendees. Others are measured by the amount of positive feedback that’s received during and after the event.
Advertising your events on social media has been a reliable method of getting your word out concerning your events, without having to spend much – for both the money and the energy wasted. As a beginner freelance event manager in Dubai, you ought to establish your personal brand first so that people can identify you, know more about you; hence, increasing your chances of getting hired for a task.
Depending on how you go about it, every business can either thrive or go down. After getting all your savings to start up the company, follow our pointers to help you to get started. Furthermore, join a pool of many other experienced freelance events managers in Dubai for you to get clients easily.
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