In a city where every event (and Big Apple experience) is expected to be exceptional, launching an event planning business in New York City is both an art and a science. New York clients will demand and expect high-level experiences that impress, inspire, and deliver flawless execution. If you’re serious about starting an event planning business in this market, you need a clear roadmap. Use this “getting started” guide to get practical insights that will help you build your thriving business.
Understand NYC’s Event Planning Market
Before starting an event planning business of your own, it’s essential to understand the competitive market you’re entering. Research first to learn what and who is most successful in the market. Understand the current trends and where the industry is headed. Create a business plan that outlines what niche area of NYC event planning you want to operate in. Identify how you will differentiate your event planning business from competitors. List potential detractors and challenges, along with strategies for overcoming them.
Choose Your Event Niche Sweet Spot
The event planning industry is expansive. Trying to be competitive in all areas will lead to frustration and disappointed clients. Instead, choose a niche that you will focus your business on. While this is not a complete list, these are some of the more common types of event planners you will find in New York City.
- Corporate events
- Luxury weddings
- Budget weddings
- Nonprofit galas
- Product launches
- Social gatherings
- Destination events
- Festivals and concerts
- Trade shows and Expos
- Virtual and hybrid events
Build a Strong Vendor Network
As an event planner, you are only as good as your team. A key part of your team is the vendors you work with. While you are the conductor of the symphony, your vendors are the musicians. If even one strikes the wrong chord, your whole event can be thrown out of key. When starting your event planning business, establish and cultivate strong relationships with high-quality vendors. You need to be able to depend on these vendors to deliver what they promise. At some point, you will depend on them to save the day when an unexpected disaster strikes.
Know Your Numbers
You may have a passion for event planning. However, passion does not pay the bills. Your event planning business needs to make financial sense. New York City is notorious for having a high cost of doing business. Create a business plan that includes your operating costs. You should also create a financial plan for each event you plan. That way, you stay on budget and protect your profit.
Invest in Your Brand Identity
If you want your event planning business to stand out in the NYC market, you need to have a readily identifiable brand. It needs to be something that people will see and automatically associate with your business. Your brand identity should complement the types of events you plan and the type of event planning services you provide.
Embrace Technology
Whether your business is small or large, embracing technology will help you streamline and optimize your event planning. Industry software has tools to help you keep everything in one place. Automations help you reduce your manual workload. Technology also helps you personalize experiences for clients, vendors, and event attendees.
Stay on Top of Permits and Regulations
If you do not get the necessary permits, your event could be shut down. If you fail to follow applicable NYC regulations, you could also face expensive fees and fines. None of these outcomes is good for growing your business. When this happens, you not only lose on the current event, but also any future events that the client would book or their referral of additional clients. You will need to know NYC’s specific rules about food service, liquor services, street events, and large gatherings.
Develop Problem-Solving and Event Management Skills
As the person behind the event, everyone will turn to you when things go off track. Develop contingency event plans for when things go wrong. As you gain more experience, you will know common issues that occur and can be better prepared to address them. For example, what will you do if a vendor no-shows? What happens if transportation delays cause your keynote speaker or entertainment to be late? How will you ensure an event continues despite inclement weather? When you can solve problems on the spot with agile event planning, you will have more success planning events. Clients and attendees will enjoy the event without knowing the magic you did to overcome challenges.
Attend NYC Networking Events
Being a prominent figure in the NYC event planning scene requires having a strong professional network. You need to have relationships with the best vendors, popular venues, and most talented caterers. By attending NYC networking events like The Event Planner Expo, you can be where the decision-makers and industry leaders gather.
Start Your Event Planning Business with Insights from The Expo
Your event planning business will only thrive in NYC if you plan smart, execute flawlessly, and build strong industry relationships. From refining your niche and strengthening vendor ties to sharpening crisis skills and creating a standout brand, you now have a business plan to get started with confidence. Get in the room with the decision-makers who can take your business to the next level. Exhibit at The Event Planner Expo and connect directly with corporate clients, vendors, and fellow planners who can open doors for your growing business.
Become an exhibitor today and showcase your expertise!
