Create an event business plan (+ checklist)

 Because an event business plan is a handy document that keeps focusing on all efforts as an event planner, it's also a great tool for selling an event idea to potential investors.

Read this guide to learn about the sections that should be included in an event business plan to be useful and persuasive.

1. The business structure

The structure of an event company and the entire team will have to do extensive persuasion work to convince investors. It doesn't matter how great an event proposal is if there isn't a team behind it to make it a reality.

Therefore, the following should be included in the description of a business structure:

• You and your role as an event planner
• The event team you have recruited (including titles and job descriptions)
• What type of business do you run (sole proprietorship, partnership, or limited liability company)
• Which vendors and suppliers do you want to work with
• The company's history and past successes

1. The event description

The event description is the content of a business plan. Because right here, an attempt is being made to sell the concept to potential investors. So make sure to include as many details as possible.

The following must be addressed in the event description:

• Mission Statement: Describe the general goal of the event and what is to be achieved before, during, and after the event.
• The Goals and Schedule: Describe the tasks that need to be done, when they need to be done, who will do them, and how to achieve the event's overall goal.
• Event Program: Describe the event's program in detail and provide an overview of the type of content that will be made available to event attendees.
• Target Audience: Tell investors what audience they want to reach ( including your buyer persona ), why your event would appeal to them, and how to market.
• Stakeholders: Include all key stakeholders in the event, stating how involved they are and how the event will benefit them.

Part of the history of an event can be included if a similar event has taken place in the past. Consider any positive results and plans to build on in the future.

1. A development plan

The event description should compel potential investors to want to support the current event. Expand it with a future development plan, and you'll have dollar signs in your eyes very soon.

• Future Vision: Show the big picture by describing your vision for the upcoming event. Will it be even bigger next year? Will it even be extended to other countries?
• Strategic Development: Indicate how you want to realize the future vision, the timeline, and who will be involved in the development.
• SWOT Analysis: Show investors that everything has been thought through by providing them with an analysis of the strengths and weaknesses of your vision.

1. The Event Requirements

Use the event requirements to represent what is needed to run the event. That way, investors get a clear idea of ​​how many resources are required, and it also shows them that you've been very thorough in doing so.

Here are some of the many things needed for an event:

• Facilities: Listing event location, catering, travel, accommodation, parking, power, and WiFi.
• Equipment: Also include sound, lighting, and stage equipment for performers or speakers.
• Staff: Describe each event, service, security, entertainment, and medical staff needed.
• Legal: Outline any different licenses and insurance policies required for an event.
• Budget: Include how much it all costs.

1. A marketing plan

Investors aren't the only people you need to sell an event to. Because your target group must also know about it, investors will want to see how you intend to speak up.

Here are some considerations to keep in mind when formulating a marketing plan:

• Positioning: Define the USPs and how the event is positioned concerning the competition.
• The ticketing: Describe how much the tickets cost and how they are distributed.
• Promotion: Include what channels (such as email, direct mail, SEM, and social media) will be used to promote the event and how to reach audiences.
• Public Relations: Identify the media you are targeting and how you will persuade them to present your event.
• The Budget: Estimate how much it will cost to promote the entire event.

1. The financial plan

It takes money to make money, but anyone investing their money in your event will also want to know if you can pull it off. So, create a financial plan for this to manage the event budget.

Describe any potential revenue streams from the event:

• tickets
• merchandise
• Sale of exhibition space
• financing
• grants
• Donate
• sponsorship

Then list all the projected expenses:

• Venue rental
• equipment rental
• marketing
• The speakers and entertainers
• catering
• photography
• signage and decoration
• staff
• applications and software

1. The settlement

Now that all the important sections of the event business plan have been covered, it's time to wrap them up and make them look nice.

Here are the sections to include before and after the areas just covered:

• Cover Photo: Include the event name and logo, the title of the business plan, and contact information.
• Content: Create a table detailing each section of the event business plan.
• Summary: Write the entire business plan in a condensed format to cover important details. The reading itself, however, only takes a few minutes.
• Attachments: Include attachments if additional notes, reports, or research need to be added to the business plan.

Checklist for an event business plan

To recap, here are the sections to include in the event business plan:

• Cover Photo: Title, event name, and logo.
• Table of Contents: Page numbers for each team.
• Summary: A summary of the business plan.
• Business Structure: Details of the type of business and employees.
• Event Description: Objectives, Program and Target Audience.
• Development plan: future vision, strategy, and SWOT analysis.
• Event Requirements: Facilities, equipment, staff, and legal requirements.
• Marketing plan: positioning, ticket sales, promotion, PR, and budget.
• Financial plan: Income and expenditure.
• Appendices: additional research, graphics, and notes.

1. The settlement

Now that all the important sections of the event business plan have been covered, it's time to wrap them up and make them look nice.

Here are the sections to include before and after the areas just covered:

• Cover Photo: Include the event name and logo, the title of the business plan, and contact information.
• Content: Create a table detailing each section of the event business plan.
• Summary: Write the entire business plan in a condensed format to cover important details. The reading itself, however, only takes a few minutes.
• Attachments: Include attachments if additional notes, reports, or research need to be added to the business plan.