The event agency business plan illustrates the nature of the events you manage, the sites you use, the booking and ticket fulfillment process, the type of customers your events appeal to, and the projected financial returns of the company over 3 to 5 years. The pro forma should provide a 5-year projection if you plan to seek private investment, and should show the return/ROI/IRR in an investor proposition table that clearly spells out the terms you have in mind. Assumptions tables, ratios, and sensitivity analyses are all worthy inclusions as well. The event agency business plan should answer:
• What promotions companies or artists do you work with?
• How do you set up your gigs?
• What is the value of a typical contract?
• When can the business hit break-even?
• Who is on the management team?
The business plan for an event agency will also need a full market analysis that puts numbers and ideas behind the core questions of "how big is your market opportunity?" and "what trends will impact this industry in the future?" You should be able to look at competitive comparables and determine their relative market shares, strengths and weaknesses, and positions. The market analysis identifies your customers, shows the need you fulfill, and outlines the strategy your event agency uses to target clients. The marketing plan (generally in the next section of the plan) continues this theme. What advertising methods will work best for you? If you don't know how to put this plan together the experts at MasterPlans can do it for you. Call our team of trained business planners at 877-453-2011.
