Starting an events planning business in the UK is a challenging and rewarding profession. This article will give you tips on how to get your new company off the ground and what you need to consider before jumping in.
For many, the idea of event planning is incredibly appealing. You get to organize meetings and conferences, plan weddings or parties, and even manage exhibitions. It’s a profession that offers variety and flexibility while working with some of your favorite people (and maybe some less-than-favorite people).
If you’re considering starting an events planning agency in the UK, then this article is for you! We’ll go over what it takes to start an events planner business in the UK, what skills are required, where to find clients, how much money you can make as an event planner, common pitfalls of starting out as an event organizer, and more!
What are the Benefits of Planning Events?
Having an events planner is a great career choice if you love networking and meeting new people. Here’s what some event planners are saying about their jobs:
“One of the most satisfying things to get to be involved in – coordinating everything from location to planning to decoration, always a pleasure.” —Karolina Babicka, Vassal.
“A huge satisfaction is the client success.” —Pauline Wheeler, Launch Events
“I started off as a face-to-face meetings coordinator and events manager for two businesses – now I manage five full-time clients, multiple workstations across the city, accounts payable and invoicing, booking tables, managing catering and liaising with client service.
How do I Start an Events Planner Agency in the UK?
Organizing events can be extremely rewarding and a great way to further develop your social network. But first you need to know what it takes to start an events planning business in the UK.
Starting an events planner business in the UK can cost anywhere from £50,000 to £300,000.
Start-up costs can vary wildly depending on how much you specialize in a particular area. If you want to work on weddings, contracts will be much smaller. If you have more of a passion for running corporate events, it’s likely you’ll have a larger scope of clients, so you’ll need to pay a higher hourly rate.
Additionally, each event is very different, so costs will vary by the project.
What Skills are Required to be an Event Planner?
Some events planning agencies will have all of the required skills on board right from the start. These companies won’t necessarily need you to have years of experience.
But for those wanting to develop their event planning skillset, having the right skills will set you apart.
Event planning agencies with experience will have staff with marketing and advertising experience. They will know exactly how to get their clients to notice them, and what to say to get their names out there.
Event planners with event planning experience will have specific knowledge of the UK market and what works for meeting planners. And they know the best places to hold large-scale conferences in the UK.
Where Can I Find Clients for My Event Planning Business in the UK?
The first thing to consider is what type of events you can plan. In this list, we’re going to cover:
- Demo days
- Trade shows
But first, let’s take a look at the types of events you can plan.
Demo days are, in essence, classes for budding entrepreneurs or business owners. You can plan a demonstration or presentation, workshop, or small-scale seminar for a range of audiences. Whether you’re creating a new marketing strategy, teaching new employee productivity techniques, or hosting a small group training session, demo days can be a great way to show your work to a specific audience.
No matter the size or target audience, you can always find a meeting to plan.
How Much Money can I Make as an Events Coordinator?
Of course, the first thing that comes to mind is “how much can I make?” The short answer is: you can make as much money as you’re prepared to put into your business. For instance, a 12 hour event planner will charge £300 per hour of their time. A 20 hour event planner will charge £1000 per hour.
Other expenses that you’ll need to cover are costs associated with traveling, food, and other hospitality related expenses. If you’re doing one-off events, or on a smaller scale, then costs are minimal.
However, if you’re organizing events for a long period of time and you need to hire some paid help to help you, then you’ll need to pay for their wages.If you’re happy with your current salary, then it shouldn’t be too difficult to start an events planner business.
Even though your job may seem easy, it can be hard work. And there are many barriers for new event planners to overcome. Being new to the industry, for example, and not having a lot of clients under your belt, is going to put you at a disadvantage. However, with careful planning, education and hard work, you’re sure to achieve success.
The exact salary you can expect to make varies greatly depending on the company you decide to work for. It’s a question you need to ask yourself before you take the plunge, and a decision you need to make without outside influence. If you want to start your own events planning company, you’re probably going to have to commit to a certain time commitment.
Estimated Costs to Start-up Your Own Event Planning Company in the UK
While many events planners work with big-name companies, the chances are, if you start out, you’ll be working for yourself. The first stage of launching your events planning business is to start out with your own personal savings, a bit of support from family and friends, and any other money you can scrape together from various sources (like selling your old computer or car).
It can be difficult to estimate the amount you need to start your events planning business in the UK, but we’ll take a look at the estimated costs for most planners to start up their own company in the UK.
The majority of events planners usually start out by working on personal projects, such as organizing weddings, engagements, birthday parties, and other celebrations.
Common Pitfalls When Starting out as an Event Planner
An event planner in the UK faces many different challenges. Here are the three most common:
First things first: You must understand exactly what you’re getting yourself into before you make a business decision. Event planning is a very complicated and detailed business, so understanding the fees you’ll have to charge your clients will help you make a business plan and determine whether it’s a profitable business opportunity for you.
Lack of Experience
If you want to start an events planning company in the UK, you must be experienced and have some knowledge of the industry. As a non-UK resident, you’ll need to have a basic understanding of the industry and events in the UK. This can be gained from experience and referrals from companies that have used your services in the past.
But don’t worry, it’s not as difficult as it seems. You don’t have to have a BA or even an HND in event planning. It’s also not necessary to have experience in event management either. A person with any degree of event planning experience and a keen eye for detail can pick up the pace.
A key aspect of event planning in the UK is public relations. If you’re not aware of this area of business, then you’ll definitely struggle.
Having Too Many Projects.
It’s fine to have several clients at once. In fact, it’s good to have several clients. But your clients shouldn’t rely on you for their events. They should also never require you to handle all of their needs and responsibilities.
Your event planning clients are most likely to get sick of you when you handle everything for them. For instance, your event planning clients may assign you specific tasks, then tell you to handle all the same tasks for all of your clients.
This means you will be constantly worried about whether you’re being overworked, as well as answering more questions from your clients. This is not a healthy state for a business owner. You should be able to be the most sought-after event planner in your city or region.