Do you want to start a business in the event planning industry? If YES, find here 20 most profitable event management business ideas here for your ready reference.
Any detail-oriented individual who has a keen interest in helping others can start a business in this segment. If you have an educational background in event management then it’s better. You will understand the industry nitty gritty quickly. If you don’t have, then also you can consider starting a targetting a niche segment.
Globally, the event management industry has seen a steady growth from the past five years. The market research analysts predict that in terms of geographical regions, the USA will dominate the market. The increase in the adoption of cloud-based event management services by enterprises and government organizations will fuel the growth of the market in the Americas in the next few years.
Due to the presence of a number of small event organization companies, this market appears to be highly fragmented. Basically, the corporate organization segment dominates the global event management as a service market.
Broadly, the segment includes corporations, media organizations, associations, event management agencies, trade shows, and educational institutes where professionals use events for product launches, conferences and seminars, company outings, dinners, and team building.
Here is a List of Top 20 Event Management Business Ideas to Start an Event Planning Business
#1. Award Ceremony Planner
Award ceremonies are very frequent events throughout the globe. Different types of Govt. organizations and private companies arrange this type of events. Also, this type of events has the specific theme and background. Sometimes these organizers look for media coverage too. Hence, you can consider initiating an event planning business that only arranges award ceremonies for the clients.
#2. Birthday Party Planning
If you love to spend time with kids, you will definitely enjoy this business. Most of the parents arrange these parties for their children to boost their self-esteem. And sometimes parents look for some unique themes, menu and gift ideas. As a birthday party planner, you can help those parents in arranging the guest list, selecting the venue, interior decoration, entertainment and finally food.
#3. Career Expos
Career expos or career fairs or job fairs are very popular events throughout the globe. Generally, this type of fairs attract the students, freshers and even jobbers who look for the better opportunity. Starting career expos organizing business requires good communication skill and sound networking ability.
#4. Cleaning Services
Actually, cleaning is one of the most essential after event issues. And it is a great idea of starting a cleaning business that provides services to the event organizers. When the events take place at a rented venue, then organizers must handover back the venue in the cleaned condition. So, this type of business has enough potential of earning revenue these days.
#5. Corporate Event Planning
As far as revenue is concerned, the corporate event planning holds a major share in the industry. Generally, the corporate houses often arrange this type of event for the employees, clients, channel partners, and shareholders. And here your primary responsibility is arranging the events in a hassle-free way within the client’s budget.
Read: How to Start Home-Based Event Planning Business
If you enjoy preparing and serving foods, then you can consider initiating an event catering business. Most of the event planners or party planners prefer to have a contract with the event catering services. However, catering business is a demanding career. It requires hard work and continuous dedication and willingness of working long hours.
#7. Event Management Magazine
If you want to start a media and publishing-related business in the event management industry, then you can consider this opportunity. You can start either a paper magazine or an online magazine blog or you can go for both the versions. Generally, these magazines provide information like details about coming trade shows, visitor registration details etc. Some of the magazines concentrate on the international fairs also.
#8. Event Management Software
This is a very promising sector. Most of the event management companies depend on the software solutions. These days cloud-based software solutions are getting huge popularity. So, if you have skill and knowledge in the IT sector, you can consider software production business that addresses the event managers.
#9. Event Planning School
Generally, event planning schools offer event planning degree courses. Though there are several online event planning courses, you can also get a degree in hospitality management or event planning. There are plenty of niche degree courses available for different niche segments. These are hospitality management, tourism management, event marketing, hotel management, music production etc.
#10. Event Videography & Photography Services
Photography and videography both are the very important aspects of the almost every event. Event hosting companies sometimes demand the both. If you are passionate about photography or videography, you can consider this business. Initiating these businesses requires upfront startup investment mainly for procuring camera, equipment, and accessories.
#11. Fashion Show Planning
Fashion is itself a huge industry. Basically, fashion show comes under the media and entertainment industry. Organizing a fashion show is not an easy task. Due to this reason, organizers often look for a show planner. In this type of the show, the product and the audience are the most important aspects. And apart these, you need to plan accordingly like the venue, background, models, advertising, licenses etc.
#12. Festival Planner
Practically, there are plenty of different types of festivals people celebrate throughout the world. As the festivals are the venues of the gathering of the huge population, festival organizers generally depend on the professional festival planners. Some of the most popular festivals are film festival, music festival, fire festival, food festival, religious festival and religious festivals.
the term DJ stands for disc jockey. If you enjoy mixing and playing music and making people happy, you can consider starting a mobile DJ business. The business demands sound skill, and knowledge of operating the instruments. Also, you need to arrange investment for procuring the instruments, transport and hiring employees.
#14. Outdoor Party Planning
Generally, sports events, adventure trips, barbeque, garden party, pool party and picnic parties are the most popular types of outdoor party. The outdoor party requires more concentration in arranging the supplies and managing the event properly. So, almost every outdoor party host look for a responsible planner for the hassle-free arrangements. If you are willing to do hard work, you can consider starting an outdoor party planning business.
In case of the outdoor party and destination party, people need good quality buses for the guests. Also, this type of renting business is the great opportunity for the entrepreneurs who are looking for a one-time investment venture. However, the business demands upfront startup investment for procuring the buses, paying the taxes, insurance, and staff overhead.
Party planning can be a perfect and lucrative chance to work for somebody who is social, organized, detail oriented and has a flair for entertaining and coordinating events. According to Salary.com, the median annual Meeting/Event Planner salary is $60,985, as of January 30, 2018, with a range usually between $52,500–$71,783.
Party rental is a vast industry. Depending on your investment capacity and local market potential, you can start the business in any size. Definitely, you can open a party rental business that provides almost every equipment requires in parties. On the other hand, you can consider starting a niche party rental business also.
#18. Political Campaign Planning
Political parties spend millions of dollars every year for campaigns. As these campaigns attract a wide number of populations, they need the professional help. This type of business doesn’t demand huge cash investment. However, it is a demanding career. Also, you must have experience of arranging this type of party before.
#19. Trade Shows
Trade shows play a very crucial role in the B2B business in every industry segment. Therefore, every country and the chamber of commerce associations organize trade shows throughout the year. Some of the most vibrant segments are agriculture, food, apparel, fashion, machinery, chemical, printing, plastic & polymer etc. Some of the most popular service-based trade shows are travel fair, education fair, franchise fair etc. If you have good rapport building ability and networking skill, you can consider initiating a trade show organizing business.
#20. Wedding Planning
After the corporate events, wedding holds the second position in earning revenue in the entire event management segment. Apart from the traditional weddings, destination weddings are getting huge popularity these days. Hence, initiating a wedding planning business is a really lucrative opportunity for the entrepreneurs who want to start a business in the event management industry.