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Over the years, the event planning industry has become one of the fastest-growing businesses all over the world.
This business is well recognized and very lucrative and anyone can become a successful event planner in Nigeria.
It’s no secret that behind the beauty, glamour, and wonderful atmosphere created to the pleasure of guests, there are people putting adequate effort to make the event a memorable one.
So, in case you were thinking of a business that would most likely bring in cash every week, event planning is definitely a suitable job.
However, you need some level of experience in the field and adequate knowledge of the business before you start.
Although, being an event planner could be rewarding, like many businesses it can be stressful.
Event planning involves catering, getting familiar with the event, production, entertainment, transportation, decorating of halls, planning conferences, birthdays, rental equipment, and so on.
The need for event planners services rarely diminishes, it is steadily increasing in demand.
The highlight is you can start with very little capital. All you need is determination, peoples skills, time management, networking, and creativity.
In this article, I will be sharing basic steps to put into consideration when starting an event planning job.
1. Acquire Experience
Engaging yourself in activities by participating in events, work for reputable brands, preferably 6 months to one year to learn the complexity of the business, go out with the ‘GURUS’ in the business, taking part as a volunteer in what they do.
The more time you spend with them the more advanced your skills and experience become.
This then develops you and gives you perfect knowledge on how to run the business.
Ranging from event management; event decoration, sound management, catering, security, Emcee (MC), etc. Certifications are additional skills.
2. Have A Business Plan
The importance of having a business plan cannot be overemphasized, no matter the type of business you plan on starting.
Clearly write down how you intend to achieve specific goals.
This plan helps you define your ideal target market, plans out your financial involvement, and helps you know your major competitors in the business to enable you to compete favorably.
3. Register Your Business
Register Your Business with the Corporate Affairs Commission of Nigeria (C.A.C).
Registration of business in Nigeria is very important. You don’t want the government officials closing down your business after creating a brand for yourself.
To register head to their website.
4. Pick A Niche
Having a niche is very important because it’s impossible to plan two different parties the same way as there are various kinds of events (e.g. carnivals, weddings, shows, corporate events, seminars, fairs, exhibitions, birthdays, festivals, burials, etc) decide on the kind of events your business will handle for a start.
Planning and execution of events vary, Start with handling one or two types of events and grow from there.
5. Develop A Service Supply Partnership
Forging a partnership with all service providers in the industry helps, as the popular adage goes it’s not what you know but who you know.
As an event planner, the most important relationship you will build is with the vendors for your events.
These are companies that supply products and services for events, such as caterers, florists, equipment rental companies, hotels, photographers, etc.
Enter into long term business partnerships with these service providers so that in exchange for the regular business you bring to them, they will give you price discounts. Therefore helping you keep expenses low.
6. Hire Extra Hands
During the early stages of your event planning business, you can multi-task.
However, as your business grows you can employ key people with relevant job descriptions. You can employ another experienced event manager, an accountant, and marketing personnel.
With the expansion of your business, you employ more hands. Always employ people when there is a real need for them. And also make sure employees receive proper training.
7. Startup Finance.
Asides the cost of registering your event business with the Corporate Affairs Commission (C.A.C) you will need a relatively low capital to run your business.
This is because, in the early stages, you can start your event services from your home. This will help you save money on additional office rent and other bills.
If you properly negotiate with your employees and key service providers, you can pay them as your client pays you.
8. Advertise Your Business
Advertisement is a very powerful tool.
The best way to promote your new business is by “word of mouth” publicity.
Get your clients to refer their friends to you. Also, encourage your service providers to recommend you to their clients.
However, this will happen only when your work is good. You can also advertise by sharing flyers and business cards. You can also put an ad in your local newspaper, radio, and TV.
Social media which is the new age form of advertisement is also key to your business growth.