The range of income for the first year will depend on the type of events in which you specialize. My theory is that you should start small until you establish yourself and get comfortable with the business requirements.
Then target events that will produce an average income of $100,000. Even if you’re only able to charge a 10% fee, with ten events a year you’ll earn $100,000.
Companies and organizations that don’t have a staff to manage their events will hire event planners. Events will range from corporate sales meetings, to golf tournaments to travel for Board of Directors meetings, as well as fund raisers for nonprofit organizations.
Your clients will consist of corporate accounts, various types of organizations, non-profits and restaurants. You might think about birthday parties as well as corporate clients.
Your marketing plan will have to include leads groups and developing great relationships with your Power Partners. To promote your business you will need to identify specific publications that will get you the level of response that make it worthwhile.