Events need to prove their worth to get funding. Without an event business plan, your idea may not find support. An event business plan helps you focus on the purpose and goals of the event. In your plan, illustrate your event鈥檚 financial potential and plan the resources and operating structure you鈥檒l need to deliver. Whether you鈥檙e brand new or an established event planner, think of your business plan as the strategic vision for where your event can be three to five years from now.
Table of contents
Why do I need an event business plan?
Section 1: Background and history
Section 5: Marketing and communications plan
Section 6: Financial plan and considerations
Why do I need an event business plan?
If you鈥檙e hoping for long-term financial returns on your event planning, you鈥檒l need a reliable event business plan. Even if you鈥檙e used to winging most of your event planning, having your strategic vision down on paper will save you time and resources, and minimize stress in the long run. Here鈥檚 how:
- It鈥檒l help you keep track of your budget, so you don鈥檛 have to worry about overspending.
- It doubles as a calendar for key dates and deadlines, such as venue selection, invitation mailing windows, etc.
- The plan is a handy checklist 鈥� it鈥檚 easy to track what鈥檚 already been taken care of and what still belongs on your to-do list.
- You鈥檒l have a reliable way to track metrics for what actions are being taken to meet your event goals.
- It鈥檚 a one-stop shop for all your logistical needs.
Read on to discover what to include in your event business plan and how to structure it.
Cover page
Your front cover should detail your event name, the document鈥檚 title (for example, [Event Name] Business Plan 2022-2024), the date created, and your contact details. If you already have a logo, include that as well.
Table of contents
Your table of contents should be a way for someone to understand your business plan quickly. Use numbers and titles to clarify the main sections and include subheads within those sections.
Executive summary
The executive summary should contain a comprehensive overview of the event. It鈥檚 essentially an elevator pitch you鈥檝e had time to edit to perfection. It introduces you and your event and lets your reader know why they should care enough about your event to read the rest of the document.
Your summary should be at least one page long but no longer than 10% of the total length of the plan. Although it鈥檚 at the beginning of the plan, edit it after writing the rest of your content to ensure it accurately summarizes your whole strategy.
Your executive summary should contain the following:
- Basic information: What the event is; when and where it will take place
- Your mission: The event鈥檚 purpose; how will it benefit the stakeholders
- Your background: Information about you (the event creator) and anyone else involved
- Budget: An estimated event income and expenditure
- Business plan reviews: Time set aside to monitor progress
Section 1: Background and history
This section allows you to showcase who you are and how you鈥檙e different. Share your background, history, and past success.
- Who you are: Provide background information about you and the听team
- behind the event. Add details about relevant experience. What events have you worked on in the past? What鈥檚 your track record?
- Event history: If it鈥檚 the first year of your event, detail where the idea for the event came from and any historic information about the event category and audience. For existing events, detail when your event was launched, why it was founded, where it鈥檚 been held, who it attracts, and how it has developed.
Remember to include any milestones that would impress readers.
Section 2: Development plan
Your development plan is the place for you to think big. Identify your long-term vision. Then, showcase your strengths and clarify how you鈥檒l overcome your weaknesses.
- Vision: Describe the long-term vision for the event and any specific goals 鈥� for example, to launch internationally or franchise your event series.
- Strategic development:听Outline your plan
- for the event three to five years from now. How will you achieve key objectives? What鈥檚 the timeline, and who鈥檚 responsible for driving strategy and implementation?
- SWOT (strengths, weaknesses, opportunities, and threats) analysis: Identify strengths and weaknesses of your event, as well as opportunities and threats it faces.
- Risk factors: Provide an initial risk assessment covering key areas such as program, finances, operations, reputation, legal, audience, and health and safety. Show how you鈥檒l manage and mitigate these risks.
Section 3: Event requirements
Once you know your vision, lay out the details. Determine what鈥檚 needed for putting on this type of event in terms of venue, services, and permits.
- Facilities: List the facilities required for the event 鈥斕�venue
- , accommodation, catering, and technical support.
- Services: List the services required 鈥� staffing, traffic management, health and safety, security, and medical support.
- Production: Detail the production equipment required 鈥� power, fencing, staging, sound, and lighting.
- Legal and insurance: Detail the necessary insurance and licenses required to cover all aspects of the event.
- Technology: List the technology you鈥檒l need to make your event successful 鈥� think audio/visual needs and ticket scanners.
Section 4: Marketing and communications plan
Your marketing and communications plan will be your roadmap for getting the word out about your event. At this point, your business plan is getting long 鈥� but don鈥檛 quit now. It doesn鈥檛 matter how compelling the rest of your plan is if this portion of your event business plan isn鈥檛 built out. No one will attend an incredible event if they don鈥檛 know it鈥檚 happening!
- Positioning: What鈥檚 the message you want to relay to your audience? This is what makes your brand different. What do you want future attendees to think of when they hear about your event?
- Product: Detail what the event offers attendees.
- Price: Explain your听pricing strategy
- and different ticket options.
- Convenience: Explain how you use technology to drive attendance.
- Promotion: Detail the听promotional tactics
- you鈥檒l use to reach your audience 鈥� social media, paid advertising, direct mail, print media, or influencers.
- Budget plan: Provide a breakdown of your event marketing budget. Not sure where to start? Check out this听event budget guide
Section 5: Financial plan and considerations
No event business plan is complete without an analysis of financials. Explain the expected value of your event 鈥� your revenue streams and losses.
- Income and expenditure projections: Demonstrate that your event is financially viable and achievable. How will the event be paid for? Identify income streams such as ticket and exhibition space sales, funding, grants, and sponsorship. Present detailed event budgets and cash flow projections for the period of the plan. Use this听event budget template
- to help with calculations.
- Economic impact estimation: If your event is large, what benefit will it have for the local area? For example, you might attract out-of-town attendees that benefit hotels, restaurants, and other businesses. If it鈥檚 a smaller pop-up, how will you partner with other local businesses? Show that your pop-up is an economic investment in the community.
]Section 6: Appendices
Include any additional materials such as third-party reports, research documents, codes of practice/policies, and site/venue maps. Not sure if you should include something in the appendix? Include the material if you think it would help answer a reader鈥檚 question.
Turn your plan into reality
Writing a comprehensive event business plan is the best way to validate your event and focus your team and other stakeholders on your goals. Once everyone has signed off on your event business plan, stay on track to make your goals a reality with this event planning Gantt chart.
