Starting a Business in Events Essay

I think company’s look at how popular the event is not only in the present day but also how popular it can become, I also think they look at what percentage of their target market attend those events, and of course they look at how much money can be made at a single event.

Extravaganza is in a unique position of competition. We compete against other event planners that are probably much larger, hotels that have their own space for the event and people who just do it on their own. The hotels have an advantage and that is that they already have a staff in house, they are able to provide many services in one location. But the downfall is that they have so much going on that errors are bound to happen. Also it can be very costly. Other event planners have an advantage because they have been in the industry much longer and probably have more clients. People who decide to it on their own can manage the cost of the event and add personal touches to the party. The only thing is that it is very time consuming and they might not have the resources needed when it comes to pricing, service, etc…

SWOT analysis involves identifying business’s strengths and weaknesses, and examining the opportunities and threats which may affect the business. SWOT analysis aims to identify the key internal and external factors seen as important to achieving an objective.

“A SWOT Analysis is the most used tool for audit and analysis of the overall strategic position of the business and its environment. Its principal purpose is to identify the strategies that will create a firm-specific business model. The plan aligns the organization’s resources and capabilities to the requirements of the environment in which the firm operates. The analysis is to evaluate any potential and limitations and the probable/likely opportunities and threats from the external environment. The results provide the positive and negative factors inside and outside the firm that affect the success.” A SWOT analysis is conducted to determine the strengths, weaknesses, opportunities, and potential threats to the organization. ("SWOT

In order to know my position in the industry and the viability of my chosen profession, A SWOT Analysis has been initiated taking into consideration the legal, social, economic and technological aspects of business.

First and foremost, Gary analyzes the inspiration behind successful businesses. The first step in creating a new business is to identify your passion. Any successful business is based on purpose and enthusiasm. Once you have identified your passion, share it with others and allow them to get excited about it as well. Gary discussed

I will be using money that we make as a city by fundraising, there will be new events every week in 2 months. These events will be like carnivals and will have celebrity guest stars. These events will also cost money.

When we plan an event, it's important to be imaginative. Events and conferences can be educational, with public speakers and classes; or fun, such as an outdoor cookout for customers, suppliers, and employees. It takes time, effort, and good project management skills to plan and organize a successful event.

SWOT, (Strengths, Weakness, Opportunity, and Threat) analysis describes a business’s greatest strengths, weaknesses, opportunities, and threats (Helms, 2010). With this information available, the consultant/ marketing strategist enables grouping of internal and external issues as a starting point for strategic planning (Helms, 2010). SWOT is easily put together, and one can benefit from multiple viewpoints as a brainstorming exercise (Helms, 2010). One of the first steps strategist conducts are internal weakness and strengths which range from efficiency, capacity, structure, image, resources access, and financial opportunities (Helms, 2010). The next step that have to be conducted are external factors that deal with, customers, social change, trends, competitors, technology, along with economic and political regulatory issues (Helms, 2010).

Starting your own special events business is risky, and you need to be clear on

Refreshed from the summer holidays, we are resuming a busy calendar of events this September. The industry has put its expertise and efforts into creating winner events, maximizing exhibitors’ returns on investment and enhancing visitors’ experience. Crucially, for all of us in the industry, success will depend on a number of elements relying on the symbiotic relationship between venue and events’ identify. Each show has its unique audience and identity; and events’ organizers have to meet their needs to guarantee it continues running and generating outstanding returns.

We can do this, because we are just like you. We are ticket buyers, we are event attendees, and we are even event producers.We have gone to small shows, large festivals, and everything inbetween. We've also worked on the planning and promotion side of what it takes to make an event successful. We know that it is no easy task, because we have been there.

Before investing in any business it’s important to conduct a business analysis. This analysis would cover in detail the strengths; weaknesses, opportunities, and threats (SWOT) of a business. This SWOT will allow an individual or a

The opportunity for a small start-up event photography service in this area is a good one. While there are several others in nearby towns, such as ARC Photos in Buena Vista and Avalos in Cañon City, WEP would be able to offer lower prices because it doesn't have the operating expenses the other companies do. Although there's no store front, that means there will be no building to rent or lease and maintain. Although there's no studio, that means there will be more capital available for travel to take pictures on location. Also, WEP will develop its own photos, thus saving time and money for developing; further reducing the price WEP will charge.

The events industry is an ever growing part of the hospitality world. There is a bigger need for the attention to detail than most people will think about, and event planners are trained to think about these issues. Event planners have to be able to handle budgets that the clients will set for them while still maintaining a high quality of service. The events industry is an ever-growing business. There is always something new that people will want and request at their parties. There is a big need for tight budgets within the economy as well as some weddings that will be very extravagant.