BusinessHABStarting your event center business: tips that guarantee success
How to start event center business in Nigeria: A very lucrative business it is, but very expensive in terms of start-up capital. Come to think of it, imagine you have a big hall where corporate organizations hold conferences, seminars, meetings etc. or on Saturdays, you play host to wedding ceremonies, birthday parties and so on and you are paid as they use it. You may either own it or rent it for a price and you are paid over and over again as they use it.
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Have you heard of Eko convention center, the largest multipurpose event centre in Nigeria? To hold any event there, you would need to pay a whooping sum of nine million naira. Yes, nine million naira. The interesting thing is that, it is never left unused. It requires great ideas to attract large sales, so you need to think deep to make your event center as eye catching as you conceived it to be in your idea.
How to Start Event Center Business
1. Where to locate your event centre
One of the most important considerations is citing your event in citing your event centre is to have a location that is easily accessible. For a good event centre, there must be enough space for the building and for parking vehicles by guests. The land on which the event centre is to be built should be large. It must have enough space for parking of vehicles. Another way out here is to buy land near where the event centre is located and dedicate the land for parking. The larger the mass of land the better it is since it will ensure maximization of benefits.
A good event centre is not only about building, there are some other services associated with the event centre which will make event taking place a great success. A way of doing this is to make available some of the things that would be needed by the organizers of the event. There is always need for ice blocks to cool drinks, sound systems, utensils for eating, tables and eating etc. All these are always made available in a good event centre though rented to customers for an amount of money. Offering good services by an event centre is the key to attracting customers.
2. Categories of event centers
Event centers come in different categories. One category is usually centers of excellence and consists of convention and conference centers. They are built by the government based on landmark architectural design. The other category consist of individually built event centers mainly for the purpose of hosting events like birthday parties, wedding ceremonies, award nights, naming ceremonies and other similar events. This article is basically based on the latter.
3. Cost implication of building an event centre
The structural design, structure type, its location, facilities and accessories it will contain will all weigh in the cost of the building. It will be impossible for any quantity surveyor, builder or engineer to provide you with an estimate unless he has seen the detailed drawing of the building.
So many things will be put into consideration and therefore you need to be ready for this project. You need to have a land in a good location which is very accessible from any other place. Also, as said, you need to also put into consideration parking space when purchasing land. Until the entire above are put into consideration, no quantity surveyor or engineer will provide you with estimate of the cost of building an event centre.
How to Start Event Center Business
4. What you need to know
Event managers are needed to efficiently and effectively manage the event centre and also will ensure proper marketing of the business.
It is common to have event centers in partnership with other organizations that refer intending users of the event centers to them. Some other event centers prefer to maximize profit by renting out their event centers at non-peak times to organizations that need it at such times.
One of the things client look out for before renting an event centre is security, therefore a good event centre should put all measures in place to provide adequate security. A good corporate image and adequate publicity when added to the considerations above will ensure a steady stream of income on a weekly basis.
How to Start Event Center Business
5. Recruit the best booking agent
Ability to select the right types of entertainments to be hosted by an event centers is not always for the timid. The owner of an event needs someone who is well aware of current trends to negotiate best deals to book them. Having connection with big people may lead to high class event been hosted in your event centre.
6. Get involved in community affairs
There is need for collaboration between your event centre and organizations willing to make provision for volunteers to make hosting big events like car shows, trade fairs more successful. It is a good way to introduce your event centre to people who have never been there before.
How to Start Event Center Business
7. Deliver an eye catching experience
Making an event centre successful is far beyond ticket sales. You need to think out of the box. As a person enter and event/entertainment centre, he is ready to spend. Foods, drinks, souvenirs need to be provided or can be contracted. This is to give a guest an experience of his/her life.
8. Make your centre easily accessible
Many decide not to use some event centers not because they are not good enough but they are not good enough but they are not easily accessible. Some people don’t go to event because it is just too much stress to get there.
You can provide shuttle to convey guests to the centers and/or parking space very near to the centers. All this is to enable guest to their seats in good time. A parking pass may be included in the ticket when tickets are bought for an event.
How to Start Event Center Business
9. Accord entertainers the needed respect
Most often entertainers are at logger heads with event centre operators most often on issues relating to booked appearances. You need to avoid this. You need to share advertising (if a band group chooses your centre, try as much as possible to give it out to them) and avoid unnecessary clashes with entertainers which may hinder the success of your event centre business. However, you need to put up guidelines needed to be followed in booking your event centre so that business can be done in a professional manner.
How to Start Event Center Business
10. Bring on the survivor spirit
Your success in the business depends on sale of ticket and other products. If a group is of the habit of not paying, you need to stop giving out your venue to them. You may also decide to reward entertainers if revenues exceed projected sales. You also need to make your website easy to access and navigate. All the building and planning won’t bring clients of getting event tickets means going into through hell.
How to Start Event Center Business
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