They've played numerous festivals this year alone, including Go Fest, We Fest and the CMA Music Fest, and now, Rascal Flatts are organizing their very own. The country trio have announced they will host their own star-studded event dubbed Flatts Fest next year, bringing along several of their famous friends.

"It's going to be a multiple-artist bill for sure," Joe Don Rooney tells CMT. "It's going to be some big names. It's going to be a lot of fun. It's just going to be a big party."

Although the location hasn't been announced yet, Joe Don admits one non-country Nashville event was among the inspiration for the concert. "Country really hasn't had like a Lollapalooza," he explains. "There's a Buzzfest that happens here in Nashville. There's Ozzfest that happens nationally. We [thought], 'Let's do a Flatts Fest. Let's invite some big name artists out and just have fun and let the fans enjoy a big day of music, a big night'."

While the band, including lead singer Gary LeVox and bassist Jay DeMarcus, are staying mum on the details, Joe Don does promise it will be an unforgettable event. "It's going to be pretty cool," he teases. "We haven't really announced who's going to be out with us yet, but it'll be a blast."

They certainly have plenty of stage experience to help them get ready for the inaugural Flatts Fest. The trio was recently named one of the top touring acts of 2010 by Billboard, having earned more than $31 million while on the road this year.

With the guys' crazy schedule, it doesn't seem like they'd have time to work out the logistics for a festival. They hit the road January 14 for the 2011 leg of the Nothing Like This tour, and are also planning another tour this summer. In addition, they can be found at Florida's Strawberry Festival in March and will headline Wisconsin's Country Thunder in July. See their tour schedule here.