How to Start an Event Management Business in Ireland

Are you keen to start your own event management business but are unsure where to start?

Find out the key steps you need to take before starting your own business in event management and explore courses and qualifications that can help you achieve your goal a little easier.

One concern for potential business owners is whether the local economy can support their company when it launches. The good news is that for those working in the event management space, Ireland has a large and thriving event industry. 

Being host to huge festivals such as Forbidden Fruit and Electric Picnic, Ireland also plays host to one of the largest St Patrick Day events in the world, welcoming 500,000 people to the day (and night) long event. 

For those who are keen to start an event management business in Ireland, they can be rest assured that they will be entering a vibrant and busy event management market. 

If you’re happy with the market you’re entering, the next step is to assess your own plans to start your business, as working these out before launching will allow you to hit the ground running. 

The first thing you should do before launching your event management business is to assess the market and see who your main competition will be. Is there a room for a smaller business like yours, or will you need to get large investment to take on the big players in the industry? 

Knowing the big names in the Irish event planning industry and understanding how a smaller startup operation could disrupt the market with innovative event planning services could be the key to running a successful event management company.

Knowing this ahead of time allows you to build any additional skills you’ll need and will help you position your brand in the market.

Businesses can be varied, with each type suiting owners for different reasons. Some are suited to companies putting on large events with high levels of staffing, whilst others can focus on smaller types of events that can be run by a tight team or even just one dedicated entrepreneur.

In Ireland, there are three main types of business you can choose to run. You can choose to be a sole trader or self-employed or run a small operation and work in a freelance capacity. 

Another option is to set up a partnership, which is typically between you and another person. This kind of business is a great idea if you want to run a small operation but don’t have the funds or skills needed to do it alone. 

Finally, a limited company is the most common type of business. This is ideal for those who want to grow quickly, hire employees, and have protections in place if your business fails financially. Although there are some additional taxes you’ll have to pay, for those aiming to set up a large business that can grow over time, this is the best option. 

Setting up a business can be a difficult task and can require owners to have a broad skill set. In addition to having knowledge of the sector you’re moving into, additional skills in business management may be required. 

Thinking about where you may be lacking in skills and knowledge, and aiming to fill in any gaps with courses or qualifications is a smart idea.

Before starting a business in event management, it’s good to think about the skills and knowledge you’ll need so that you’re prepared for the challenges ahead.

Event management is reliant on getting people through the door and attending the events you put on. With this in mind, having a good skill set within marketing, or understanding how it can help you grow your business and focus on your target market is important. 

Having a solid marketing plan to go alongside your business plan is key, as you’ll need to understand the role that public relations and marketing will play in reaching your target audience and stakeholders when running your event planning business. Your marketing strategy could be a make-or-break part of the event management services you offer.

Weighing up risk is a vital part of good business management. In the events sector, high overheads and unexpected changes can put you and your profit at risk, so understanding how to mitigate this is key. 

Depending on what kind of events your business will be managing, it’s a good idea to get an understanding of specialist knowledge that will help you stand out from the crowd. 

Whether that’s learning about the industry you’re planning to host corporate events for, having insight into the logistics of running a large musical festival, or getting to know the major players in your sector, specialist knowledge can go a long way.

Having connections is a huge part of event planning, and great communication skills help business owners build those relationships. 

If communication isn’t your strong suit, finding out how you can develop those skills can be a game changer and can open up many new opportunities.

Starting your own business can sound a bit daunting, but with some experience and knowledge behind you, there is no reason why you cannot begin your own event management company. 

Event Management courses are ideal for those who want to build up the skills that apply to both business owners and event manager employees alike. By studying online, learners can choose how they want to study, whether that’s full-time or part-time, and can learn from the comfort of their own home in a way that works for them. 

For those who have some knowledge already and are keen to set up their business quickly, the Event Management to Business Pathway is a great option. This course walks you through how to start your own business in the event management space, giving you insight into how to run a business, as well as key event management skills.

Getting qualified in Business Management, or taking on a more general course in Business can also give you a great foundation to build further knowledge on.

In order to run a business also having knowledge of aspects such as bookkeeping and project management is key. Studying Bookkeeping, Project Management and Business courses online can help you build the skillset you need to run a business and learn about how to market yourself to potential clients. 

If you want to specialise in specific events, such as weddings, looking at courses in Wedding Planning or taking on an Event Management & Wedding Planning to Business Pathway course can be a good idea.