Pros:
1. Low startup costs – Unlike other businesses, event planning does not require a huge capital outlay in order to get started.
2. Flexible schedule – One of the advantages of owning an event planning business is that you can decide when and for how long you want to work.
3. Creative – Event planners get to be creative and utilize their imagination when planning events for their clients.
4. Rewarding – Seeing your hard work pay off with the successful execution of an event is very rewarding for event planners.
5. Networking opportunities – Event planners have the opportunity to meet a wide range of people in the course of their work, opening up opportunities for networking.
Cons:
1. Stressful – Event planning can be very stressful and fast-paced with tight deadlines that must be met.
2. Uncertainty – There is always the possibility of events being cancelled or rescheduled due to unforeseen circumstances, which can be stressful and disheartening.
3. Expensive – the initial start-up costs an event planning business may be, there are many additional expenses that must be factored in such as travel costs, equipment rental fees and service fees.
4. Competition – The event planning industry is competitive and it can be difficult to stand out in the crowd.
5. Difficult clients – It is not uncommon for some clients to have unrealistic expectations, which can make it challenging to meet their needs while also staying within budget.