Explain the opportunity assessment process for starting an Event Management Company.

Opportunity assessment process for starting an Event Management Company

Step 1: Decide the services you wish to sell

A service is something which is intangible like: wedding planning, party planning, organizing music concerts, fashion shows, conducting MICE (meetings, incentives, conferences and exhibitions) etc.

Choose those services in which you have a strong hold, in which you have majority of your experience and expertise and which can generate maximum revenue for you. Don't try to be jack of all trades and sell all event planning services one can think of. If majority of your experience is in wedding planning, then wedding planning is best for you.

Step 2: Do market research, competitor's analysis and SWOT analysis.

Market Research for Event Management Company

Market means your target audience i.e. people who may be interested in your events. It also includes those clients who may be interested in hiring your event management services.

If your target audience are least interested in the type of event you organize, then you won't get any audience. Say you want to organize a rock concert in the country _______ _________ ___ _______ _______ _________ ________ __________ _________ ______.
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