Event Planning Business Plan in Nigeria

If you ever looked down on the event planning business as a means of profit-making, you were wrong. This is one of the biggest sectors of the Nigerian and indeed, the world economy. For one, Nigerians love to party a lot which shows why there is so much money in this sector.

Another thing you should consider is that event planning goes way beyond weddings and parties. Event planners organize several kinds of events which covers every sphere of life. In this post, we will share the details on how to start this business in Nigeria. Before we do so, here is a sample business plan for the event planning business in Nigeria.

Sample Business Plan for Event Planning Business in Nigeria

The place of a business plan in running a business cannot be replaced by any other document. Whether you are experienced or not, you need a business plan for several purposes. After a lot of research, we put together this business plan.

Though it is a sample, you can use for several purposes especially preparing loan and grant applications. Since this is a sample, it is an abridged version of the business plan. For the full version, reach out to us and we will make it available at a small token.

Business Name: Myriad Events

Business Location: Ibadan, Oyo State

Business Industry: Services

At Myriad Events, we understand how important events are to Nigerians which is why we have invested in this sector. The business is located in the heart of Ibadan, the largest State Capital in the country. This location is known for a high number of events every week.

We intend to provide high-quality event planning services at very affordable prices. To ensure that we offer professional services, we have on our team the best and most experienced we could find. In addition to these, we have grown a network of reliable vendors that provide excellent products and services.

Myriad Events is built on a bedrock of research and expertise. As a result of this, these are some of the benefits our services bring to the table:

Providing top-notch professionalism in service delivery.
Customer service that is available all year round.
Excellent consultation services on event management to our customers.
Intense focus on customer marketing strategies.
Affordable and fair prices on our services.

We are not just in this for the money, but to ensure that we raise the bar where events are concerned. To achieve this, we are constantly on our toes researching the latest trends offered in the industry.

Business vision

Myriad Events has the vision to be established in Ibadan and the rest of the South-West as a force in the event industry. We seek to achieve this in the first five years of operation.

Business mission

To become the foremost event management outfit in the whole of Nigeria and to be recognized n different parts of the continent as well.

Business objectives

A business without objectives will end up not achieving success. It will only be short-lived which is not our intention. To this end, we have researched extensively and come up with the following business objectives:

Providing excellent event management services all year round.
Establishing a thriving relationship with both customers and vendors.
Creating a network of vendors that can offer quality services in different parts of the country.
Add several flavors to the event management niche that will make us stand out as unique.
To become the best in event management consultation in Nigeria.

Our services

The event management niche is quite wide. It is, therefore, important to clearly state out our proposed services before we dive in. This way, we can establish focus and then expand as time goes on. Here is a list of our proposed services at Myriad Events.

Training, meetings, and retreats.
Workshops and conferences.
Holidays, graduations, birthdays, and anniversaries.
Showers, receptions, and weddings.
Banquets, award ceremonies, and company picnics.
Music concerts and theatre shows.

Competitor analysis of Myriad Events

The event management sector is laden with a lot of competitors. There are so many companies invested in this sector so it is important to set our company apart. The question to answer is “what will attract clients to our business?’

After much research, here is a list we believe will bring us an advantage:

Provision of top quality services.
Non-stop customer services.
Establishment of an efficient network of vendors and service providers.
Establishing a one-on-one relationship with our clients which is expected to ensure loyalty and continuous patronage.
Professional consultation services.

To this end, these will be our competitive advantages:

Quality services at affordable prices.
Continual research into the latest trends that will put us at least a step ahead of our competitors.

Like we stated earlier, this is only a sample which explains why it is abridged. If you will like the complete business plan, you can reach out to us. We will send it to you at a subsidized rate.

To get your Sample Event Planning Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name: Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “event planning business plan pdf” to 07033378184

Why you should invest in the event planning business in Nigeria

Have you been wondering why there is so much fuss about the event management sector in Nigeria? Like many other aspiring entrepreneurs, you must be wondering why you should invest in this sector. If you have been, let’s share some reasons with you.

The truth is that breaking into this sector can be a serious challenge. But the question is, what sector doesn’t offer the same challenge? When you consider the fact that the Nigerian events sector is worth over $20 billion, attempting is worth the try.

In every part of the country, there is always one event or the other. From parties to wedding receptions, concerts to company galas. The list of events is endless and you can enjoy organizing any of these events.

You can decide to go general or become a specialist at one event. The idea is to establish yourself as a force in the industry. This is one of the most lucrative businesses in Nigeria where you don’t need a huge capital to start.

How to Start an Event Planning Business in Nigeria

In this section of this post, we will take a look at how you can start your event planning business in Nigeria. Since this business is service-related, there are certain things you need to do. It is way different from a product manufacturing or supply business. What do you need to do before you start?

Decide on how you want to operate

This is the first step to starting this business. The event planning business is divided into several sub-sectors. You can decide on general-purpose event planning. This means that you don’t have a specific niche, instead, you will do anything that comes your way. While this may be good when starting, you need to specialize after a while.

You need to figure out if you will focus on weddings, corporate events, or arts and culture. Make your choice based on your interests so that you don’t burn out after a while.

Carry out a feasibility study

In this business, you are not limited by location. You can have your physical office in Ibadan and be invited to handle an event in Cross-Rivers. This means you must have sufficient knowledge about the industry and the different parts of the country.

Find out about how to get service providers and vendors in different parts of Nigeria. It wouldn’t be wise to take your regular vendors to other States when you can get efficient ones there. Traveling with your vendors will cost more and reduce your chances of making a profit.

Learn about the perks of the industry and how to maximize opportunities. In this business, you must continually be on your toes.

Know your competition

While this sector may seem saturated, we have key players in Nigeria. Here is a list of the biggest players in the event planning and management sector in Nigeria:

Zapphire Events
Run
IPC Events
Magna Events
Bisola Trendybee Events

Also, find out the key players in your locality. When you do, study what they do and how they have succeeded. Refine their methods to help you achieve better results.

Write a business plan

When it comes to event planning, the importance of a business plan cannot be overemphasized. You need one as much as fish need water. We can provide one at a subsidized price within record time. Reach out to us after reading this post.

Set up your team

You need an internal team and an external network. From managers to sound engineers, from caterers to ushers, find out who you need and find the best hands. Run background checks on each individual so that you don’t employ the wrong people.

Build your portfolio

As you run the business, don’t miss an opportunity to build your portfolio. Take pictures, shoot videos, get certifications, and documentation. The idea is to be able to show off your work.

Profitability of the event planning business in Nigeria

Do you know that you don’t need so much to start this business? All you need is to register the business and set up a small office. Proper publicity can help you get a gig each week.

You can earn as much as N50,000 to N100,000 per week after all your work on an event. As you grow, you can make a lot more, as much as N1 million per event. Do you now see why this is a great business prospect?

Conclusion

Now that you have learned so much about the event planning business in Nigeria you must be inspired. We already mentioned the importance of a business plan for this business. Contact us to help you out with a detailed business plan for a small token.

Get your Event Planning Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name: Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “event planning business plan pdf” to 07033378184