Event planning companies are growing day by day in Pakistan. To start up with a limited budget, event planning is a great idea, to begin with. The reason behind its growth is that it is easy to start with only 2 or 3 team members. Many young males and females have started an event planning business because of the rate of success on the land. Thinking to work on the idea??
So here we go with the process of starting-up an excellent event planning business:
Know about event types
Generally, there are two types of events; social events and corporate events. You must get to know about the scope of both types of these events. Social events include birthday parties, wedding events, college functions, children parties, etc. Corporate events comprise of events of charity companies and nonprofit organizations. Different companies also host events trade shows BODs meeting, stakeholders’ conferences, conventions, and staff members meeting every year in Pakistan.
Define all kind of events services you have the capabilities to offer in your area. Although you might be thinking that you have the expertise to plan any kind of event. Think about the scope of work you can do on this phase. In the initial stage, you must have limited resources, on account of this put into words about the type of services for events.
Make a business plan
I have noticed many event planners who started their business without a solid plan in hand and failed to accomplish the set goals. Therefore you must need to plan how you will start working on the entire span of the business. Do research work for creating a successful business plan. Look for industry leaders and learn from their success stories.
Be aware of Event requirements
Make sure you have all the major required equipment for the event. The much-needed pieces of equipment are lights, food, Dance floor, tent, chairs, tables, carpet, sound system and security at the venue. To ensure the availability of all these equipment you must have good relationships with local vendors. Look for the vendors providing these resources on affordable rates.
Check the legal requirements
Before diving into this business, check for all the legal requirements. Name your event planning business and get approved by the Securities Exchange Commission of Pakistan (SERP). To register your business trademark you also need to pay a small registration fee.
Measure return on investment (ROI)
Preliminary you would be planning small events, so there is a chance that you may not earn much profit. In the later stage, you will surely earn enough returns on the investment. With more experience, you will find new ways to excel in the field. To enjoy the greater return on investment; dedication and hard work is the need of time.
Market your services
Provide some perks of being an early bird to the people out there. Give promotional deals for early birds. You can also run a social media campaign to attract more people towards your business. You already own a social media presence that can aid in to find the targeted audience. These marketing strategies do cost nothing. Bear in mind that only a successful marketing campaign can target the right audience.
