"If you're working in one special events area, there are many directions in which you can expand.
If you're just entering the profession of special events, there's a lucrative market awaiting you on many fronts."According to Goldblatt's research, profits in this industry continue to rise.
Many corporations, and some members of the general public, look for these designations when hiring planners.
Because of the research and study it takes to become a CSEP or CMP, clients know that these planners are professionals.
Goldblatt is the founder of International Special Events Society (ISES), the founding director of the Event Management Program at George Washington University, and co-author of The International Dictionary of Event Management.
How To Start An Event Planning Business With No Money Essay Using Quotes
"Suffice it to say, the marketplace is large enough to support and sustain your endeavor," says Goldblatt.Event planners may also have started out planning events for other companies before deciding to go into business for themselves.Joyce Barnes-Wolff planned in-house events for a retail chain for 11 years and then worked for another event planning company before striking out on her own.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.Related: How to Start a Business With (Almost) No Money This question actually breaks down into two questions: What kinds of events are we talking about? Now we move to the second question: What is event planning?Planners of an event may handle any or all of the following tasks related to that event: How many of these activities your business engages in will depend on the size and type of a particular event, which will, in turn, depend on the specialization you choose.Charities and nonprofit organizations host gala fundraisers, receptions and athletic competitions, among other events, to expand their public support base and raise funds. Social events include weddings, birthdays, anniversary parties, bar and bat mitzvahs, Sweet 16 parties, children's parties, reunions and so on.Thousands of these events occur each year, and although the large ones require specialized event planning experience, you may find smaller local events to start out with. You may decide to handle all these events or just specialize in one or more of them.This chart lists the startup costs for two hypothetical event-planning services.The first business is homebased and has no employees.