Have you been looking for a way to start a money-making event decoration business? Then you’re at the right place. About a month ago, in one of my entrepreneurial practical class. The tutor who was called to make known millionaire business ideas was one who was deeply into this decoration business. He made known all the nitty-gritty that everyone must take note of to ensure success. Looking at him, he has transit from a professional event decorator to a coach who now make millions monthly from his decoration business and coaches.
Starting a lucrative event decoration business is not capital-intensive. It can perfectly suit your budget provided you’ve got the skills and experience needed. Before writing this article, I snooped around top event decorators in Nigeria and I discovered that the only needed attribute needed is passion, determination, ability to learn always and flexibility. It’s assumed that you already have passion before venturing, but you need lots of determination, persistence and patient to make it in the industry. It’s a competitive market, but you will survive if you come out with a difference.
This article shouldn’t be a substitute to a feasibility study, market survey or business plan. This is just an eye-opening piece to motivate you into taking a step toward your dream. With event decoration business, you will be able to become an entrepreneur that employs and lives in financial freedom. Let’s go to the main business of the day.
HOW TO START AN EVENT DECORATION BUSINESS
1. ACQUIRE THE SKILL
Event decoration is an art that can be learnt. Irrespective of how naturally talented you are, you still need a professional touch and you can’t get that on your own. You have to undergo a sort of training that will sharpen your creativity. There are certainly event decorators in your environ, contact one and get acquainted with the requirements.
There are also numerous decoration video tutorials on YouTube that will help boost your creativity, thereby making you stand out. Remember, event decoration business is a business of creativity. That’s why you have to really have a passion for design and beauty before you even think towards this career. Nobody is born a decorator, but you can be perfect provided you have passion for it and ready to learn. In this stage of learning, don’t be in a hurry to graduate. One year to two years training is good.
2. CHOOSE A NICHE
Event decoration business is a broad industry. You can decide to niche down to a particular aspect and later, diversify. You can decide to focus on events such as weddings, birthdays parties, funeral services etc.
Whatever niche you’re going for, make sure you feel comfortable with it and understand the concept. From your training, you’ll be able to determine the perfect niche to go for.
3. BUILD A PORTFOLIO
Event decoration doesn’t require you having a university degree, your degree in this business is your portfolio. Building your portfolio should be top of your priorities cause it’s what determines if you get hired or not. In your training stage, make sure you gather your works in one online or offline album. In this age, having an online portfolio is free and easy. In fact, you can have you portfolio on Facebook by creating a Facebook page or perhaps, create a blog.
Whichever medium you prefer, make sure you build an attractive portfolio cause it will be your selling edge in this business.
4. BUILD A NETWORK
In business, the bigger your network, the more money you make. Set out by connecting to top event decorators and event planners. I usually advice making as many event planner a friend as possible. They are the best of all networks. The function of an event planner is to bring every services that makes up a memorable event together. If they have you as a contact, that means you’ll always be called whenever the event planner is hired for a job.
Event decoration business is lucrative if you have as many networks as possible. If you can have at least, the contact of 10 top event planners. You’ll be making millions yearly. If you play your ball well, you’ll make a name for yourself in this business.
Apart from that, you should also make connection with companies that suppliers interior decor. With that, you’ll be able to know whenever there’s a new product or design. Sometimes, they might give discounts.
5.GET AN OFFICE
Truth is, you can run this business from home. All that is required is just a place where meetings with clients can be held. However, if you have the finance, please go ahead and have yourself a beautiful office. Your office makes you appear more professional and serious. Sometimes, it gives potential clients a positive aura that you’re up for the job.
The benefits that comes with having an office can’t be overemphasize. It’s good. However, it shouldn’t stop you if finance isn’t yet ready for such.
EVENT DECORATION BUSINESS – STARTUP COST/CAPITAL
The startup cost of an event decoration business depends largely in how big you want to start. In decoration business, you might want to register the business name, hire an extra hand, rent a space, buy materials and tools needed for the business.
While researching, I discovered that most event decorators purported that the major hurdle in event decoration business is usually renting a space which can sometimes be very costly.
Apart from a rented space, starting an event decoration business will cost between N400k – 700k. Take note: This is an exaggerated estimate. Go on a market research, find out what you need to kick off and know the amount needed to buy them.
HOW TO ADVERTISE/PROMOTE YOUR DECORATION BUSINESS
There are many ways by which you can promote your event decoration business, to attract potential clients. Trust me when I say that adequate promotion is the live wire of the business. Through advertisement and promotion, you expose the business to a lot of people who are yet to know about the services you offer.
In this age, there are so many ways to do that. Most companies or businesses have leverage the opportunities that comes with social media into making their goods and services known. They usually do this in form of sponsored post, advert placement on some popular forums or blogs, even television or radio advert placement.
Another medium is by having an attractive complimentary business card that you give to potential customers. The complimentary card should have your business name, location and contacts clearly spelled out. As the business grows, you adopt better means to expose your business.
EMPLOYING AN EXTRA WORKER
Event decoration business isn’t a business that can be effectively or efficiently handled by one person. You’ll get overwhelmed if you attempt. As a starter, employ at least one worker who will help in the running of the business. You just can’t do it alone now matter how a workaholic you are.
The more you earn, the more you think of employing more workers. You become a full-time entrepreneur the moment you began to employ more workers.
PROFIT POTENTIALS IN EVENT DECORATION BUSINESS
There are some interior decoration that goes as high as N1Million and as low as N50,000. It all depends on the type of event and negotiation. For example, wedding decorations is known to run Millions. Tell me which bride or groom that won’t pay any amount just to have the perfect design for their once in a life time event? Certainly few.
In a year, you’ll be making a gross income that runs in millions. This is a time when you start asking; where was this money years ago when I was broke? All it takes to be rich is discovering a business opportunity and been determined to make it work. In the end, you’ll be glad you made the sacrifices. It’s not easy, but it can be done.
Event Decoration Business is among the top lucrative business opportunities in Nigeria that anyone can do. You don’t have to be perfect, all you have to do is undergo a training in other to perfect your art. With that done, then nothing can stop you, only YOURSELF!
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