If you need a business that would always bring in cash almost every week, event planning is suitable for that purpose. Event planning involves more than just planning and organizing events. It deals with music, colors, talks, decoration. It just means everything working out together perfectly.
Corporate retreats, product launches, weddings and many more events need the presence of an event planner. Even in economic downturns, companies will still have product launches and people will still have to do weddings, so you get to make money all the time. The need for event planning/hosting services rarely diminishes, it is steadily increasing in demand.
The most interesting part is that you can start with very little capital. All you need is determination, networking and creativity. Here are tips you need start an event planning business.
8 Steps to Start an Event Planning Business in Tanzania
1. Do your market research
Before jumping, in I always tell people to understand their market and competitors. What is your unique value proposition? Are your fees similar to, better than or higher than others in your area? Understanding your competition and your clients will give you the leg up in this market. Don’t skip this step!
2. Choose a Business Name for your
You’ll notice that I did not make this #1 on the list and that was intentional. While choosing a business name is important, some people get completely stuck at this section. Your business name is not the most important thing when starting up, and if you’re ever unsure of what to use, just use your own name.
3. Have a Business Plan in Place
Having a plan is very important for anyone starting any type of business. It is important to clearly write down how you intend to achieve specific goals.
A Business plan will help you define your ideal target market, plan out your financial involvement, and know your major competitors in the business to enable you to compete favorably.
It should have the following:
- An executive summary
- Company overview
- Key competitors
- Marketing plans and operations
- Startup costs
- Raise Startup Capital
4. Choose your niche
Some event planners want to handle any kind of event. That’s a mistake. Events aren’t all the same; organizing a wedding isn’t the same as putting on a corporate gala. You’ll handle large events with thousands of expected guests somewhat differently from one with only a hundred.
It’s very important every event planner choose a niche because you can’t plan two different kind of parties the same way. You can’t possibly fit into all the market niches the industry has to offer all at once.
Find a suitable and profitable niche, and build your business around it. When you do that, your professionalism in that area will be unquestioned and recognized. Look at the available options before choosing your niche. Focusing on one or a few event types will help you spend more time on them, and give you the chance to hone your skills faster.
5. Develop Relationships With Vendors
Event planners can’t get the job done on the ground without decorators, photographers, caterers, MCs and other possible ‘foot soldiers’ who help execute event plans.
The smart way to get event planning off to a quick start is to build a network of these ‘foot soldiers’ from the start. Have a solid base of reliable contacts who can play their roles in any event you’re hired to plan.
You’ve probably heard the adage “it’s not what you know but who you know”.
The most important relationships you will build as an event planner is with the vendors for your events. These are companies that supply products and services for events, such as caterers, florists, equipment rental companies, hotels, photographers, etc.
Learn about each one’s business by conducting informational interviews and ask for discounts they can offer you. Being polite to your vendors can’t be avoided. You can also arrange to have vendors refer clients to your event planning business.
6. Get Necessary Business Permits to Operate Your Business
Registering your business in Tanzania is very important. You don’t want the government officials closing down your business after creating a brand for yourself. Businesses are registered with Business Registration Service (BRS) head on to their website to start the registration process immediately.
While you do not need an official certification or license to become an event planner, you may want to register your event management company and business’s name. Then, be sure to open separate accounting for your business, and track all your expenses and income for tax purposes.
The details of registration will depend on where you live and the size of your business, so make sure to do your research beforehand. In addition, make sure you apply for the correct licenses and permits so that you don’t get into any legal trouble while building your brand.
7. Learn the Ropes
Read as much material as you can about event planning. Attend events, and see how they are organized. Volunteer to help out an event planner, and observe him or her as they go through the process. Your time as an understudy should last long enough for you to get a firm grip of what goes on in the business. If you have prior experience in event planning, this might not be as important.
Make sure to pay special sort of events you intend to handle.
8. Plan your marketing approach
Marketing is one of the most important parts of starting your own event planning business. If you’re already an event manager, you’re very familiar with how important it is to market your events.
Social media gives you a great platform to spread the word about your venture. Set up business pages on Facebook and Instagram, and advertise your services on them.
You can also have promotional content written for your business and published on blogs with a large reader base. Set up a website, where you’ll display all the relevant things about the business (and its past work) that potential customers would want to know about.
Think about all the things you’ll need:
- A website for your business
- Business cards
- Flyers and other printed info
- Digital marketing and online ads
- Expenses to travel to events for networking
Don’t leave anything out! You will need to spend money to make money, ultimately.
But don’t ignore traditional word-of-mouth; it’s still very effective. Begin with your family and friends. They could in turn recommend you to people they know who are in need of your services.
Tips for Starting a Successful Event Planning Business in Tanzania
1. Understand The Duties Of An Event Planner
Event planning, is more than just planning for wedding and birthday parties. You need to have a broad knowledge of the business first before you operate among many other competitors who already exist in this line of business.
Associating with already-existing event planners, doing non-profitable works for them when they have events. Obtaining a professional certificate in hotel management, public relations, and marketing can also be an added advantage.
2. Acquire Experience
Engaging yourself in activities by participating in events, going out with the ‘GURUS’ in the business, taking part as a volunteer in what they do, such as, decorations, catering and so on. The more time you spend with them the more advanced your skills and experience become. This would develop you and give you a perfect knowledge on how to run the business.
2. Be Organized
To become a successful event planner, you need to be properly organized. You should outline your events and put them in schedules as they come, by so doing, it makes it easier for you to get prepared for upcoming events. When you are unorganized, planning an event could be a hitch.
Getting yourself prepared should be the first thing you should have in mind in order to get the best result for your job. Being organize includes.
- Having a well scheduled plan for upcoming events
- Always keep to dates and times of upcoming events
- You should be known for consistency
- Make arrangement of space for upcoming events
- Contact people that would be needed on ground for the events e.g musicians, security e.t.c
- Make reservation of halls or space needed.
4. Be Specific
There are different types of event planning, examples are; wedding planners, corporate events planners, sports event planners, and so on. Having a general knowledge about the industry would make you decide on which area you want to specialize.
5. Be Creative
As an event planner, it is good to be very creative, creating new ideas of how an event should be planned.For instance, decoration; your client may give you a particular choice of decoration and you present a plan which surpasses theirs. This makes your clients count on you whenever there is an event, and even market you to a new client through “word of mouth”
Working with established event planner as a volunteer gives you an exposure and the chance to meet clients of your own. Getting familiar with people from different walks of life will help you to interact well and make them understand what you can offer. Create a good relationship with new vendors to work with and help them to plan their budget for their events. Here are ways you can also network.
Gather information about vendors and their addresses Contact your vendor to remind them of upcoming events you want to help them plan for
7. Create a Website
Make a website that would carry your business name showcase photos or pictures of events you have handled in the past, update them from time to time . By so doing, you will create awareness. This helps to promote your business and allow people to contact you for upcoming event.
8. Always Have a Plan B
As you are planning an event, always have a backup plan. Sometimes, things can go wrong on the day of the event, you can always fall back on your plan b and it would help you. Also you are sure of a successful event without any odds at the end of the day.
9. Communication is Important
This is an important part, always carry your team along, for them to know their duties and roles assigned to them, because there might be a new development in a particular role an individual plays, he or she should be informed about it. Always have meetings with them about how they can get prepared for upcoming events. Also talk to them about your vision and ideas.
Conclusion on event planning business in Tanzania
Most importantly, throughout all of this, stay calm. Being an entrepreneur can be stressful. The more you can keep a cool head about you, the higher your chances of success. Another great way to level up your management abilities and ensure the trust of your clients is to take classes for event planning.