If you are planning a commercial event, start by first preparing a decorating business plan. A typical business plan will help you focus on the objectives of the event, reveal financial opportunities and potential, and help you plan the resources and production structure that are necessary for its implementation.
This is an indispensable tool for attracting supporters, mobilizing financial resources, and assessing the success of the event. A business plan can also be used for current events as a strategy for their long-term implementation in the next three to five years.
In this article, you will learn how to start an event decorating business, what information your plan should contain, and how best to organize it.
About event decorating businesses
The most important nuance is big business competition. Recently, this area of activity has become very popular. However, this does not mean that you will not have an opportunity to break through and become recognizable in this market. The main condition is the quality of your work.
Another point to keep in mind is uniqueness. If the events you have designed are unique and you can’t find anything like them anywhere else, then success is guaranteed. Of course, it’s easier to start in cities where event decorating business opportunities are more abundant and it’s much easier to advertise.
What do you need for an event decorating service startup?
To complete the process of decorating, you will require a minimum of two assistants. It is a welcome bonus if your employees have experience in the fields of design and floral arrangement.
Natural flowers, paper, cardboard, ribbons, etc. will be used as consumables for creating decorations. They can be purchased both in stores and directly from suppliers of flowers. All of the finishing work is done in the office or the event venue.
The approximate markup on the created products will range from 50% to 100% and possibly even higher (depending on the product). On average, the margin is about 80%. Accordingly, the profit will be about $500 from each registration when you first start, so carefully take into consideration all the reasons to start an event decorating business. Also, do not forget about certification. You will need it for further business promotion and development.
How to start an event decorating business step by step
When starting an event decorating business, you should first come up with the event decorating business plan, which will include the following detailed information:
- Executive summary
- Company summary
- Products and services
- Market analysis summary
- Strategy and implementation summary
- Management summary
- Financial plan
After the plan is ready, you may have to figure out the office, employment, and maintenance expenses.
Tips on how to start an event decorating business
- Set up the costs.
Decide the size of your business, and make a clear-cut list of everything you will need. Define the budget, and then come up with your event planning business plan.
- Set up a working model.
Decide if you will work from home, set up a small office, or both, with the help of a business website or landing page.
- Choose your assistants.
Without adequate labor, the right decorations cannot happen, so sooner or later, you will need at least two assistants.
- Get equipped.
Have all the necessary items ready to make your successful event decorations without needing to take a break from your work to buy more supplies. Basic items such as ladders, ribbons, paper, pins, screens, decorative lights, microphones, and tools for setting up are standard for all event decoration businesses.
- Mind the maintenance of decorative items.
After you’ve gotten equipped, spend a little of your income on maintaining your items, as they represent the overall standard of your business and are indicators of your professionalism.
- Use social media for business promotion.
Social media is completely free, and there are a lot of useful promotion tools already integrated, so you can come up with the contest ideas, analytics, and much more and then promote your event decorating business.
- Use improvised decorations.
To save on the budget and make the experience unique, you may use original decorations or ecofriendly materials to create decorations to save both time and money.
If we’re talking about the design of the hall for a wedding with flowers, then this takes much more time. Everything you need for this design requires tons of fresh flowers. Of course, this requires experienced florists and people with good taste and imagination. You can always save money if necessary, and it’s easy enough to have assistants or to use economical materials instead of flowers.
In addition to decorating with flowers, you can also decorate with balloons. With the help of balloons and a color scheme, you can create a great atmosphere without any difficulty and also save money. A good imagination will help to create unusual shapes from ordinary balloons.
If you are going to serve distant regions, make sure to take care of transportation expenses and to come up with a good logistics scheme in the case of an intense schedule or an abundance of orders. Remember that the event decorating business is just like any other event industry and has seasonal decreases. During the winter, profits may fall from the wedding business because it is a naturally seasonal industry.
- Use smart technologies.
Event registration should be given special attention. All that needs to be done is registration of the event visitors without running into any problems. GlobalSign.In will be your perfect automated online assistant.
When starting an event decorating business, consider all the pros and cons, and then get started! Goals development for an event is hard, but it is well worth it.
As far as the profits are concerned, this field of activity can be started easily and definitely bring about a 100% profit. It is also worth noting a clear advantage: There is an option to work alone, but this will require a lot of perseverance.
It is also reasonable to expand your business by opening branches in other cities or areas. Do not limit yourself only to wedding decorations, corporate events, birthdays, children’s parties, etc., are a lot of good reasons for people to decorate, so you have a huge variety of opportunities to earn money.
Start an event decorating business with our help right away!
Also, feel free to leave your event decorating business plan ideas in the comments below.