The event planning business niche in Nigeria is a very lucrative career and business model over recent times.
The event planning niche is one of the most untapped business models in Nigeria thus providing an avalanche of opportunities for those who’re already in the business and also those who intend to venture into the business.
This article keeps you abreast with all the necessary information about even planning a business and the step-by-step guide on how to start an event planning business in Nigeria.
How To Start An Event Planning Business In Nigeria
Here’s a step-by-step guide on how to start an event planning business in Nigeria.
1. Attend An Event Planning School
Attending an event planning school to get theoretical and practical knowledge of the business model is a prerequisite if you must establish a successful and sustainable event planning business in Nigeria.
An event planning school would help teach you the rudimentary aspects of the business model and also issue you a certificate at the end of your training program which would also boost your portfolio.
2. Draft A Business Plan
A business plan is the livewire of every business and also serves as a blueprint for every business.
A detailed business plan is also used to conduct routine checks on a business to ensure that the present operations and realities of the business are still inline with the objectives of the establishment.
A business plan should contain the structure of your business, how you intend to raise capital for the business, your shop location, feasibility studies, SWOT analysis, and a scaling plan, among other important details.
3. Partner With Other Necessary Service Providers
The event planning business is one of the business models that you cannot do alone as you must need the service of other service providers such as DJs, caterers, MCs, furniture /car rentals, event places /hotels, photographers, escort/ushering services, etc.
Approach each and every one of them and pitch your business to them and propose a mutual and long-term irresistible offer to them.
Since you’re going for a long-term business partnership with them, propose a discount on their service charges so as to help you cut down costs and maximize gains.
4. Register Your Business
It is of utmost importance to have your business registered with the Corporate Affairs Commission (CAC) and other relevant agencies at the early stage of your business.
Registering your business makes it a legal entity and also boosts customers’ confidence in your brand.
5. Rent An Office Space
Ensure to rent an office in a strategic and easily accessible location to increase your chances of patronage.
However, if you cannot afford to rent an office space for a start, you can as well operate from your home.
With modern-day technological advancement, people close deals online through different social media platforms such as Facebook, Instagram, WhatsApp, etc.
6. Buy The Necessary Equipment
Ensure to do thorough research before buying your work equipment in order to buy the best quality and long-lasting equipment.
To be on the safer side, you can also consult an experienced event planner to guide you on the best equipment and where to buy them.
7. Employ Labour
As established earlier, the event planning business is one of the business models you can’t do alone as you must need extra hands to help you in carrying out tasks.
Since you’re still starting out, you can employ two or three employees to help you out in the business and employ more as you progress in the business.
8. Promote Your Business
Creating awareness is the most important aspect of every business.
Without promoting your business, you’re likely to get low patronage since there’re others who are already doing the same business with you and have grown a large loyal customer base over the years.
Hence, you’d need to be aggressive with your business promotion especially at the early stage of the business so get a good customer base and also inform the public about your business.
You can promote your event planning business by word of mouth, printing fliers, banners, etc.
You can also promote your event planning business digitally through a radio advertisement and also through social media awareness like Facebook, Instagram, WhatsApp, etc.
How Much Does It Cost To Start An Event Planning Business In Nigeria?
You don’t need to have a dip pocket before you can start an event planning business in Nigeria.
You can start an event planning business in Nigeria with a budget of N100,000 to N300,000.
Note that you can hire most of your work equipment for a start while you acquire the necessary one’s as you progress.
How Much Does An Event Planner Cost In Nigeria?
In Nigeria, an event planner charges between N50,0000 to N300,000 and even more for an event depending on the number of expected guests and the organizer’s choice and taste in decoration.
Event planning is a very lucrative and untapped business model in Nigeria today.
Starting an event planning business is relatively easy and doesn’t require so much capital at a start.
This article exclusively discusses a step-by-step guide on how to start an event planning business in Nigeria.