Risk: Moderate

I’d rate the risk a 2 out of 5 because starting an event planning side hustle can be risky for beginners, especially if they can't afford to lose money. The potential losses include money spent on marketing, supplies, and venue deposits, as well as time and energy invested in planning events that may not yield a profit. Confidence can also be affected if initial efforts do not succeed. Many beginners have reported spending money on advertising or materials without securing clients, leading to financial losses. Startup costs like website development, business licenses, and networking events might not pay off if the business doesn't attract enough clients. Online discussions often highlight the challenges of breaking into the market and the financial risks involved, especially for those without prior experience or a strong network.