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Procurement Market Intelligence Report

Party & Event Planning Services Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Party & Event Planning Services?

What is the average price of Party & Event Planning Services?

This procurement report includes pricing information to help you purchase Party & Event Planning Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Party & Event Planning Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Party & Event Planning Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Party & Event Planning Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Party & Event Planning Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Party & Event Planning Services?

There is low market share concentration in the party and event planning market. Even the most prominent companies in the market, which are typically those located in large cities with robust party and event rosters, do not capture significant market share due to the market’s high fragmentation. ProcurementIQ estimates that... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Staff Qualifications

Can you provide your organizational chart?

Who will be working on my account in program development, operations and on site?

What are the qualifications of the individuals that will be overseeing my event?

What is the average retention rate of your staff?

Do you subcontract any event staff and if so, how do you ensure the quality of their work?

Client Base

Who are your top clients?

What is the retention rate among your clients?

How diversified is your customer base?

What industries or market segments are key buyers of your firm's services?

Risk

Can you provide a copy of your risk mitigation plan?

Who will be on site during the event, in case of an emergency?

Do you require your vendors to carry insurance? If so, what is the minimum level for general liability?

What is your process for evaluating third-party suppliers?

How do you handle underperforming suppliers?

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Key elements for every RFP

What should my Party & Event Planning Services RFP include?

Project Budget

Buyers should specify their event budget, inclusive of planning services.

Buyers should define payment schedules.

Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.

Selection Criteria

Buyers should evaluate suppliers based on their relevant experience.

Buyers should evaluate suppliers based on the attractiveness of their preliminary work plan and its conformity with buyer goals and vision.

Buyers should ensure that suppliers are financially stable.

For detailed selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should indicate the date by which proposals must be submitted.

Buyers should communicate to prospective suppliers when bid awards will be posted.

Buyers should include a schedule outlining when each phase of the planning process should be complete.

Evaluate major factors to mitigate risk

How risky is the Party & Event Planning Services supply chain?

Supply chain risk in the party and event planning market is moderate. Because of the pricing model used for the service, buyers are more heavily impacted by changing prices among upstream suppliers than vendors are. However, the different elements of the event planning process carry risks of their own, which... Subscribe to learn more.

HIGH

MEDIUM

LOW