What are the common costs of starting an event planning business?

Answer 1

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* How to Start a Home-Based Event Planning Business by Jill Moran
* Start Your Own Event Planning Business: Your Step by Step Guide to Success by Krista Turner
* The Essential Event Planning Kit by Godfrey Harris
* Start & Run an Event-Planning Business by Cindy Lemaire

I also posted links to some free articles in the source box.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

Below are some common startup expenses in starting an event and meeting planning business. For exact costing, you may need to check the going rates and prices in your locality:

Research and Development costs
Licenses and Taxes
Fees in professional associations and clubs
Office Supplies such as stationeries, etc.
Office Equipment
Communications equipment (e.g. cell phones, 2-way radios, etc.)
Insurance
Rent (if any)
Phone/Utility Deposits
Payroll
Advertising/Promotion Expenses (e.g. brochures, calling cards, advertising)
Legal Fees & Accounting
Insurance (1st Quarter)
Miscellaneous