If you love planning parties, you may have thought about whether a business in event planning is the right choice. You'll be working with clients and planning diverse gatherings, and then spend the evening making sure that the event runs smoothly. You can decide on your schedule, select the clients you want to work with and choose your charges. The event decoration business is extremely lucrative. When you are in the business of event management, you must put 100% of your energy into the client's requirements since it is their event. It is your obligation to give everything to make the occasion as memorable as it can be through your decor business.
Did you know?
Many success stories explain the chances of big earnings in this business. Mumbai-based Minnat Lalpuria's story is a very inspiring one. Her startup, Vachan, was a small-scale startup that came into existence in September 2012 and, in the same year, offered services for more than 300 weddings! It was just a ₹2 lakhs startup, which turned up as strong as having a ₹10-12 crores turnover every year!
How Lucrative Can an Event Decoration Business Be?
Have you wondered - how do I start an Event Decoration Business? Look no further, as we have the whole process elaborated here -
1) Business Opportunities in The Event Decorating Business
There are two ways of running your business. One is to partner with an event management company, and the other is only focused on decoration. The majority of events and parties will be dependent on an event coordinator.
The individual can decide the plans and organise. In these cases, you can directly step into the scene as an additional decoration partner. The calibre of your service provided solely relates to your business's success, and there is no product that you can show off to clients. The number of orders you've taken and the client reviews will be the only way to assess your service quality.
2) Create a Website
Creating a website is one of the most effective marketing tools. Your website should include your contact details, your services and your prices. Also, include photos of work you've completed (or are planning) and testimonials from happy customers.
3) Set a Time and Date for a Meeting
Find a place to host client meetings. It could be at your home if you have a place to host clients. It would be best to have a business office to arrange meetings. In case not, restaurants can serve as nice meeting places.
4) Costs for Setting Up
It's vital to conduct strong research in this regard since it will determine the company's success. Determine what size you want for your enterprise and create a detailed list of what you require.
Rent/buy is another thing that can impact the money you've planned to invest. In this type of business, you don't have to purchase items for your event in the past. Just contact the supplier of the material when your purchase comes. You could start your business with a very low investment.
The value of any items you own in your business will be the investment amount. Since you are aware that the decor business provides services delivered at the client's location, the costs at the office are small.
5) Start Your Portfolio
Make a portfolio of prospective clients. If there aren't any pictures of your work for clients in the past, ask family members to decorate their homes for special occasions and get photos. Else, you can do two or three free jobs to collect photographs.
6) Labour Laws and Requirements Labour
The need for labour is immense because the whole process is labour-intensive. Without enough labour, you can't achieve an elegant and sophisticated decoration. Because decoration is a time-consuming process, a lot of labour is compulsory to finish the project in time.
Beyond the service you offer, prompt execution will help your decor business progress significantly. Skilled and untrained labour together makes up the workforce of this company.
Apart from the decorating staff, having educated staff for planning, finance and management are essential. If you are able, employ an interior designer who will aid your business in keeping with the latest trends. Use an online salary calculator to save the time you might consume in calculating the salaries of your staff.
7) Make Use of Social Media for Business Promotion
Make rapid progress in your results. Make sure you share your presence as often as possible. Today, the most recent trend is to keep posting on social media. Many people rely on social media for different services. It is possible to use this platform and gain the top spot in the industry of decoration.
Include some examples of the services you provide and the prices you will charge for them. The inclusion of prices in the examples will allow the clients to select the most appropriate and affordable option. We suggest that you employ strategies for advertising that concentrate on the intended audience.
It's useless to promote a decor business to those who do not use it. For instance, sending marketing managers to hospitals to explain your business is not productive. So, you must know how to reach out. Consider teens as they tend to host family gatherings. Furthermore, business expansion is fast once it gets to the teenager segment.
8) Do a Classy Photo Shoot
Even if you're a beginner in event planning, you can collaborate alongside other professionals for the photoshoot in a fashion. When you shoot a styled shoot, you'll work with vendors for the event to make the wedding table complete with linens, glassware, flowers, cutlery, stationery and other elements.
The majority of photoshoots are complicated with models, cakes and decorations. However, you can start basic with a table plan until you feel more at ease and your creativity increases with confidence.
9) Use Technology
Including technology can improve your business's performance and help take it to the next level. Additionally, achieving many goals is an additional benefit of using technology. Make use of the technology to offer your customers distinct experiences.
Remote-controlled lighting is just an example. Create an application for your event decoration business to enable customers to contact you quickly. You can create an app to describe the kind of service clearly. Include a clear introduction with some videos from your previous offerings. Also, be clear with your pricing.
After observing this information, your customers could choose your business to decorate. The result is that technology is essential to manage your decor business and improve your products and services.
10) Be Creative
Event decoration is about creativity, and you should consider it in every aspect of your work. Keeping track of your competitors' fashion or the latest trends is crucial.
However, it shouldn't limit the thoughts in your head. The choices of your customers are equally important for your imagination. Customers are the ones who should be pleased, so there is a clear requirement that the decoration must be carried out as per the preferences of the clients.
The best part about the event decoration business is that it provides excitement, especially when decorating for events is your love. Also, you don't need to fret about the initial costs since it's affordable compared to other businesses.
It would help if you built your network of suppliers, venues and professionals in the industry whose assistance may be required. There are many marketing strategies for event decorating, but be sure that you only choose those that work for your company's needs. A decoration business requires so many transactions.