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Who hasn’t planned a party for their parents' wedding anniversary or their best friend’s birthday and thought, “I could do this for a living!” 

Well, turns out, event planning is more than just a fun side hustle—it’s a multi-billion-dollar industry. Post-pandemic, the demand for organized, creative, and memorable events has skyrocketed. Whether it’s for weddings, corporate events, or social gatherings, people are willing to invest in making their moments unforgettable. And if you’re thinking of jumping into this booming business, you might be onto something big. 

Let’s break down why the event planning industry is seeing such massive growth and why it’s a prime opportunity for aspiring business owners.

INDUSTRY BREAKDOWN

Behind the Scenes: The Billion-Dollar Event Planning Industry 🥂

The U.S. event planning industry is valued at $6.9 billion in 2024 and is expected to continue growing steadily over the next five years. This market includes everything from large corporate events and conventions to private weddings and social gatherings. The industry has become a staple in the business world, with companies recognizing the need for expert planners to create memorable, seamless experiences for their attendees. Weddings and corporate events dominate the sector, but festivals, conferences, and social gatherings also make up significant portions of the industry’s revenue.

The biggest appeal for buyers? Event planners aren’t just about creativity—they’re about logistics. Planning and executing a successful event involves a deep understanding of budgeting, vendor management, and customer service, which creates high barriers for those trying to do it all on their own. Buyers entering the industry will find that an existing event planning business comes with well-established vendor relationships, proven processes, and a loyal client base—key assets that can help grow the business further.

Industry Trends

Post-pandemic, the event industry has seen a major rebound. The return to in-person events has been a huge driver of growth, with 78% of attendees preferring face-to-face experiences for networking and engagement. However, the rise of hybrid and virtual events has added a new dimension to the industry. These formats have opened up access to wider audiences, increased attendance rates, and boosted engagement opportunities, making them a permanent fixture of the event landscape.

The Finances

The event planning industry is seeing a boost, and much of that growth can be attributed to adjacent industries like weddings. The cost of weddings in the U.S. has skyrocketed since the pandemic, with couples now spending more than ever to create extravagant, personalised experiences. The average wedding cost in the U.S. rose to $30,000 in 2023, and this increase in spending has had a direct impact on the demand for event planning services. As weddings become more lavish, event planners are in higher demand, managing everything from large guest lists to unique venue choices and intricate logistics.

We know that you are just as tired as us of hearing about inflation… but the event planning industry is one of the biggest drivers of rising prices. Let’s be honest—$900 for a cake? You wouldn’t spend that much on a birthday cake, so why splurge on a wedding cake? 🎂The answer: Weddings have become more "Instagram-worthy" than ever, with couples opting for expansive flower arrangements, interactive guest experiences, and unique photo opportunities. These prices keep climbing, as weddings get bigger, more flashy, and more customized every year. And the bigger the budget for the wedding, the bigger the paycheck for the event planner. With every upgrade in décor or venue, there’s an added layer of complexity—and that’s where event planners step in, ready to take on the challenge (and the fees!).

This trend isn't just limited to weddings. Corporate events, conferences, and social gatherings have also increased in scale, as companies and individuals seek memorable, tailored experiences. For buyers, this means an opportunity to tap into a growing market where high-value clients are willing to invest in premium planning services. As the wedding industry—and events in general—continue to grow, event planning businesses stand to benefit from this surge, with rising profit margins and expanding client bases making it an attractive business to invest in. 💸

Buy or Bust?

The U.S. event planning industry is on the rise, 📈 driven by the growth in adjacent sectors like weddings and corporate events. With weddings becoming more extravagant post-pandemic and corporate events returning to in-person formats, the demand for skilled event planners is soaring. If you’re thinking about buying an event planning business, the timing couldn’t be better. Not only is the industry expanding, but clients are also willing to pay a premium for unique, well-executed experiences. However, it’s important to keep an eye on trends like sustainability and hybrid events to stay competitive. All in all, this looks like a solid buy for those ready to dive into a creative, fast-paced industry with plenty of room for growth!

Check out these Event Planning Businesses for sale:

1. Profitable Event Planning Company in New Jersey - $255,000

2. Established Wedding Planning & Design Business in Charleston County, SC - $225,000

3. Beautiful Event Space with Private Party Services in Littleton, CO - $500,000

Interested in a particular industry? Reply to this email with the industry you are curious about and keep your eyes peeled in upcoming issues. 👀 

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DEAL REVIEW

Thriving Meeting & Event Planning Business with Growth Potential 🪩

This business is a highly-profitable and relocatable event planning business with a decade of success in Florida. 

Deal Facts 🔥

Green Flags 🟢

• High Profit Margins: The business enjoys strong profit margins, thanks to long-standing relationships with vendors and partners. This suggests a well-managed cost structure and profitable operations.

• Exclusive Partnerships: Securing exclusive partnerships with leading hotels provides a steady stream of business, creating a competitive edge and reliable revenue.

• Diverse Service Offerings: With multiple revenue streams ranging from event logistics to video production and entertainment, the business is well-diversified, reducing reliance on any one service.

• Established Reputation: Decades of operation and a strong reputation for excellence in service provide credibility and trust within the industry, attracting repeat clients and referrals.

Red Flags 🔴

• Owner-Dependent Relationships: Much of the business’s success may rely on the owner's relationships with clients and vendors. A new owner might face challenges in maintaining these relationships post-transition.

• Limited Employee Base: With only two employees, the business may have limited capacity for scaling operations without significant investment in hiring and training additional staff.

• Short Training Period: The seller is only offering 2-4 weeks of training, which might not be enough for a buyer to fully understand and take over the complexities of running the business, especially if it involves high-touch client relationships.

• No Immediate Growth Efforts: The owner has not pursued further expansion, indicating that the business may have untapped potential. While this could be an opportunity, it may also signal a need for significant effort to drive growth.

Possible deal structure: This business presents an opportunity for an earn-out structure, with an initial payment of one-third to one-half of the $800,000 asking price upfront and subsequent payments tied to performance over the next two to three years. This approach mitigates the risk associated with the owner-dependent nature of the business and the fluctuating revenue typical of event-based companies. Additionally, this structure helps ensure the buyer can assess the stability of high-profit margins and exclusive vendor relationships.

Watch Our Video Breakdown

For a more in-depth analysis, check out this video deep dive of the deal by our Founder, Morgan Tate:

In our last edition, almost 100% of you were interested in the Pet Supplies industry! 💯🐶 Who knew that dog bones and cat beds would be of such high interest?

Let’s see if Event Planning has you just as interested! 🪩

Want to learn more about this deal? Reply to this email with a “send me more details” and we will connect you with the broker!

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TWEET HIGHLIGHT

Apparently, even after swiping through billions of matches, all roads lead to sipping a latte in peace. ☕️ If the founder of Tinder is eyeing the local coffee shop life, maybe the real success is finding a business that brings joy—even if it’s not matching 65 billion people!

We say it often, but find a business that you can see yourself operating (even if you have no plans of operating it!) Then the successes and growth will feel much more rewarding than a sexy tech business you’re not passionate about.

GOOD READS

Recommended Resources 📚

Below is a list of articles, books, and other resource we recommend for buyers or operators of small businesses!

1. Beginners’ Guide to Buying a Business in 2024 – A comprehensive guide that walks you through everything from finding a business to evaluating its price, securing financing, and closing the deal. It's a perfect primer for anyone new to the process.

2. The SMB lingo is hard to grasp, even for the most experienced buyers. Rather than googling every term and getting a vague answer, here is an all-in-one glossary of terms you will need to know.

3. All the documents are signed and you have the keys in hand - congratulations! But now how do you scale this business post-acquisition?

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