Start & Run an Event-Planning Business. Mardi Foster-Walker

needs to be enough space for your working needs as well as any supplies and materials you will store. Walk through your home with new eyes and visualize where you could set up a place of business. Many residential floor plans make no allowances for work space.

      See if there is enough privacy. You need to work uninterrupted. Figure out where your business telephone will be. You must be able to have uninterrupted telephone conversations — they are essential to your business. A door ensures that you can separate your business from housework.

      Think about noise. Will your business create intolerable noise or will other people’s noise be intolerable for your business? Most inside doors are hollow and easily allow sound to pass through. If there is potential friction over noise, it may be worthwhile to install a solid core door.

      Your business should be compatible with the area you live in and cause no annoyance to your neighbors. Some area residents have closed down home-based businesses they viewed as a nuisance. In the events business, you will be meeting with suppliers and clients often, and taking up all the allotted street or visitor parking can annoy neighbors.

      Remember to consider your family situation. How will you deal with child care, chores, and time with your spouse, friends, and others?

      Whether or not you decide to base your business in your home also depends on the zoning restrictions in your community and the rental agreement you have with your landlord if you do not own your residence. See chapter 10 for more on zoning laws and rental agreements.

      Consider your company image. There has been much growth in the number of home-based businesses in recent years, and the idea has become much more widely accepted. However, some people will not take seriously a business operating out of the home, and it is important to follow a few guidelines that will make your home-based business look more professional.

      For instance, install a separate telephone line and do not let children or other family members answer that line. If you are unable to take a call, use an answering machine or a voice messaging service. Use a post office box number as your business address if your home address is obviously a residential area or an apartment building.

      If you anticipate having clients visit your home office, make sure you have a designated space, close to the entrance, that is only for business and decorated accordingly. If you do not have that type of space available, it might be wise to avoid meeting clients at your home. Meet them outside your home office, such as at their place of business or coffee shops.

      The primary advantage to running a business out of your home is the small capital outlay necessary to get started. Having lower overhead will allow you to invest more money in promoting and marketing your business.

      A home-based business also carries numerous tax advantages. To take full advantage of these tax breaks, your home-based operation must take up an entire room that is devoted solely to your business. These tax advantages are discussed in further detail in chapter 11.

      The business and your family

      Most often, the spouse who chooses to work at home is the one with primary responsibility for child care. Blending the two tasks is no easy matter, particularly with very young children. The needs of the children and the demands of the business are often at odds with each other.

      Consider the following options to address challenges:

      (a) Work around your children’s schedules

      (b) Work while your children are in school

      (c) Hire in-home care

      (d) Take your children to out-of-home care

      Your need for child care while running your business will depend on several factors, notably your financial objectives, the time required to meet those objectives, and the ages of your children. The children, however, regardless of age, will be affected by your decision to start your business from the home. Tell your children as openly as you can about your plans. Younger children need to understand, for example, that your supplies are not available for their artwork. Older children can understand the importance of your work and help out by assuming more household duties.

      Although it is crucial to explain to family members the importance of your work, it is equally crucial that you balance the time between your work and family. It is sometimes difficult to leave a home-based business behind. Many home-based business operators find themselves going back to work after dinner, late at night, or on weekends.

      For your sake and that of your family, don’t turn yourself into a home workaholic. Turn off the ringer on your phone after hours, and really consider a separate, self-contained work space. Closing that door at the end of your work time gives you a clear dividing line between work and family needs.

      3

      Business Resources and Equipment

      As mentioned earlier, you need very little equipment to start up a special events business, but you do need some basic office equipment and services in place. This chapter discusses how to establish the basics for your business and provides options to consider so you can control your expenses. With a thorough review and comparison of the costs of the main overhead areas, you should require only a small capital investment and keep your overhead and risk to a minimum.

      Business Resources

      This section reviews the basic resources you’ll need to run your business, and addresses some issues you’ll need to consider before making your decisions on which resources you’ll require.

      Mailbox and copy services

      If your office space is in your home, or if the space you lease or rent doesn’t have an office image, rent a post office box from a private mailbox rental outlet that offers a street address and suite number. This will allow you to have a suite number on your address and will present a more professional image. Most communities and neighborhoods have private postal outlets, and you will find them convenient for a number of reasons. These outlets offer some or all of the following services:

      • 24-hour mailbox service with street address and suite number

      • Mail receiving/forwarding

      • Stamps and metered mail

      • Packing, shipping, and supplies

      • All forms of shipping — overnight, second day air, ground

      • Fax service

      • Secretarial services

      • Photocopies

      • Money transfers

      • Money orders

      • Telephone messaging/voice mail

      • Business cards and stationery

      • Office/shipping supplies

      Having this type of business close by can be very advantageous, especially in the start-up phase of your company. Look in the Yellow Pages under Mail Boxes, Postal Box Rentals, or Postal Services to find an appropriate facility in your area.

      Business telephone line and fax line

      A business telephone line is more expensive than a regular personal line, but it is necessary if you want to be listed in the Yellow Pages and in the white pages under your company name. When you subscribe, be prepared to show your business license and/or incorporation documents. Depending on your credit rating, you may also be required to pay a refundable deposit.

      For a start-up special events business, a single telephone line and a designated fax line should be sufficient. It is a good idea to invest in a separate line and number for your fax machine. You don’t want your telephone line tied