Event Management is a big thing nowadays, and quite lucrative as well, especially if you know what you’re doing. If you don’t think there is any potential in such kind of business, well, we don’t know who told you about this business model but you should get to know about it a little more. It is one of the best business ideas, not just in one particular country, but in the entire world. The reason for that though? Well, it is kinda a trend that nowadays, people don’t plan events on their own, they prefer to hire someone else to do this, maybe to just stay stress-free and ensure that everything looks stunning and is managed perfectly by those who know what they’re doing. Anyway, we’re here with the possible Event Management Business advantages and disadvantages, you know, to give you a good idea of this business model. Here we go.
Advantages of Event Management Businesses
1. You Get to Be Insanely Creative
Think about it for a sec, like, you are planning a wedding with those shiny and kinda twinkly fairy lights everywhere maybe, you know, maybe a company bash with a special theme blasting off. That’s creativity right there, and sure enough, in this biz, your imagination gets to run wild and free! That’s not even an over-exaggeration, you can literally plan an even your way, quite literally! Like, you get to be fun and creative with decorations and themes instead of boring old art, you know?
2. You Meet All Kinds of People
One day you are comforting a bride losing her mind over her wedding and on the very next one, you’re kinda busy working at a big executive meeting for some large company, which means, the rage is a bit big here with all kinds of events. See, in our opinion, it’s kinda a fun job if you think about it! And because every client is different, it’s never dull, like NEVER. It is so much fun because you are constantly changing it up.
3. You Can Rake in Big Cash
See, it is kinda true that if you pull off an epic event like a grand wedding or a huge concert, you’re definitely in for a big payday and you’ll certainly end up like that a lot actually. We already gave it off that even management is a lucrative business idea, and it conveys the idea that if the event is big, the expectation of earning more makes sense. And just to give you perspective on things, well, some event professionals make thousands for each event, so yes, that’s that.
4. You Score Awesome Connections
Connections? Well, if you really get it that human connections are something that you can take advantage of in your career, then sure enough, event management is a big opportunity right here. Like, it is in the nature of this business model, you get to meet a lot of people. A LOT!! And that’s why, just be prepared to make a lot of new friends, and who knows how they end up helping you in your professional life down the line.
5. You Control Your Time (Kinda)
When an event is happening, you are left running around like a super busy person, which is how it is supposed to be. But when there’s no event, you can kick back a little and let just things take time, you know? Like, before an event or a gig, you get to choose when to brainstorm, call, or chill, and to be honest, that’s right here is a dream life for many.
6. You Lead Your Own Squad
As you grow your business you might hire helpers, to carry tables or take the phone, and do all sorts of things too, which means you build your team and that takes a lot of load off of you.
7. You Make Your Town Happier
Imagine throwing a festival where everyone in the town comes to dance and eat delicious food, sure those events aren’t happening every now and then, but still, when they do, you really get to shine. It’s you who’s bringing people together to make magic at any event, don’t you think that way?
Disadvantages of Event Management Businesses
1. It’s Crazy Stressful Sometimes
First of all, well, we’d like you to think of it for one sec like, you’re throwing a big party, and the cake is late, or rain is pouring down on an outdoor wedding or something like that. These are just the things you plan but still go south ways sometimes, and that’s just a headache right there, a big one to be honest.
2. Cash Flow’s Up and Down
See, yes, we told you that it is kinda a lucrative business model, but the thing is, in event planning or management, things work a certain way. Like, if it is party season or marriage season is going on, people will book you a lot, but once that’s gone, you’ll feel kinda lonely. Again, that’s something you can’t do much about.
3. Tons of People Want In
Yes, because event planning is something really popular these days, literally everyone is trying out their luck at this business model. Even the ones that have no experience at all, are your big competition these days. So, you must be a little sharp with your marketing and all that.
4. Clients Can Be Super Fussy
Sometimes, it is true that you’ll be hired by a client who is always complaining about things, no matter how good you are at your job. And if you want to get into this kind of business model, at least you should be able to handle that perfectly.
5. Vendors Can Be a Headache
See, oftentimes, it is true that there are a lot of things you must depend upon some vendors for that. We’re talking about things like flowers, food, decorative items, and things like that. But let’s say if these things aren’t delivered on time and there isn’t the quality factor which they promised in the beginning, it’ll be a big headache for you on the spot.
Conclusion
There you have it. By this point, there is no way that you haven’t formed a conclusion of your own. It could be that you’re now more into this business model or maybe you’re looking at those challenges or negative sides of event management and be like “This isn’t for me.” Well, that’s precisely what we wanted to achieve.
