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’s financial potential and plan the resources and operating structure you’ll need to deliver. Whether you’re 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’re hoping for long-term financial returns on your event planning, you’ll need a reliable event business plan. Even if you’re used to winging most of your event planning, having your strategic vision down on paper will save you time and resources, and minimise stress in the long run. Here’s how:
- It’ll help you keep track of your budget, so you don’t 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 – it’s easy to track what’s already been taken care of and what still belongs on your to-do list.
- You’ll have a reliable way to track metrics for what actions are being taken to meet your event goals.
- It’s 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’s 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’s essentially an elevator pitch you’ve 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’s at the beginning of the plan, edit it after writing the rest of your content to ensure it accurately summarises 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’s 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’re different. Share your background, history, and past success.
- Who you are: Provide background information about you and the team behind the event. Add details about relevant experience. What events have you worked on in the past? What’s your track record?
- Event history: If it’s 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’s been held, who it attracts, and how it has developed.
Remember to include any milestones that would impress readers.
"Don't be shy about introducing yourself and your qualifications when it comes to building an event business plan. Dive into your past accomplishments, and don't forget to share your success stories."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’ll overcome your weaknesses.
- Vision: Describe the long-term vision for the event and any specific goals – for example, to launch internationally or franchise your event series.
- Strategic development: Outline your plan for the event three to five years from now. How will you achieve key objectives? What’s the timeline, and who’s 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 programme, finances, operations, reputation, legal, audience, and health and safety. Show how you’ll manage and mitigate these risks.
"Stay on track with the long-term goals driving your event — make sure you don't miss the forest for the trees."Section 3: Event requirements
Once you know your vision, lay out the details. Determine what’s needed for putting on this type of event in terms of venue, services, and permits.
- Facilities: List the facilities required for the event – venue, accommodation, catering, and technical support.
- Services: List the services required – staffing, traffic management, health and safety, security, and medical support.
- Production: Detail the production equipment required – 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’ll need to make your event successful – think audio/visual needs and ticket scanners.
"Make sure you remain abreast of event logistics — such as venue requirements, permits, and more — to ensure smooth sailing on your big night."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 – but don’t quit now. It doesn’t matter how compelling the rest of your plan is if this portion of your event business plan isn’t built out. No one will attend an incredible event if they don’t know it’s happening!
- Positioning: What’s 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 pricing strategy and different ticket options.
- Convenience: Explain how you use technology to drive attendance.
- Promotion: Detail the promotional tactics you’ll use to reach your audience – 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 event budget guide.
"Marketing and communications are the lifeblood of guest list curation, and much of your event's success will depend on getting the word out. Ensure a great attendance rate by developing and spreading a strong message about why your event can't be missed."Section 5: Financial plan and considerations
No event business plan is complete without an analysis of financials. Explain the expected value of your event – 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 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’s a smaller pop-up, how will you partner with other local businesses? Show that your pop-up is an economic investment in the community.
"Don't lose track of the numbers game — behind every good event is a smart, savvy budgeting plan. You'll want to ensure that what you choose to spend on your event generates strong returns."]Section 6: Appendices
Include any additional materials such as third-party reports, research documents, codes of practise/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’s question.
"Your event business plan is the best way to validate your event"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.
