The past decade has witnessed a tremendous growth in the events industry. Based on a study led by Dr. Joe Goldblatt, a Certified Special Events Professional (CSEP), funds spent for events globally accounted for USD 50 billion yearly. He encourages you to take part in the industry because it’s massive enough to sustain and support your plans.
Goldblatt adds that you don’t need to work in a specific events area for there are several directions to expand. Moreover, those who are just starting will have a profitable market waiting for them. As you gather your resources and search for businesses to partner with, such as a Clearspan tent rental company, you need to know your target clientele first.
The Corporate Clientele
Your corporate clientele doesn’t only involve companies, but also nonprofit organizations and charities. The latter two usually host events, such as athletic competitions, gala fundraisers, and receptions. They mainly do this to get more support from the public and to gain more funds. Thousands of these events happen every year and even though big ones require particular experience in event planning, you may cater to smaller local events for now.
On the other hand, companies host meetings, company picnics, conventions, holiday parties, and trade shows for their stockholders, board members, or employees. There is also an enormous market for these types of events. Based on the Convention Industry Council’s 2012 Economic Significance Study, nearly 1.83 million business or corporate conventions, trade shows, and meetings occur only in the United States.
The Social Clientele
Meanwhile, social events comprise of reunions, Sweet 16 parties, children’s parties, anniversary parties, birthdays, weddings, as well as bat and bar mitzvahs. It will depend on you if you can manage all of these events or just focus on some of them. They expect these events, particularly anniversaries and birthdays, to continue to rise in number, as baby boomers get older. This generation will have their own silver wedding to celebrate, parents commemorating golden anniversaries and kids getting married.
Now that you are more aware of the needs of both types of events, you can go ahead and be wiser when making decisions. It will take time for your business to build up, so be sure to network and gain more clients through word of mouth.