Segmentation of the event industry is wide. Some may ask,” what is an event?” The others may answer,” what can't an event be!” From a small birthday celebration to a gigantic wedding, everything falls under some or the other event category . Wedding falls into one of those categories of events where there are sub-events and a main event. Sub-events are attached to the wedding, because of the traditional beliefs of the families. For an instance, A typical Gujarati wedding would have sub-events like; Mandap Mahurat, Gruh-Shanti, Mameru, Mehendi, Sangeet Sandhya, Haldi, Marriage & the Reception. Even these sub-events have sub-events, for example; Marriage would have sub-event like Hast Medap, Jaan Aagman, Jamanwaar & Vidaai. Imagine the scope to earn in an event that has 5-6 sub-events and 3-4 more sub-events! Mentioned below , are the 5 reasons why wedding planning is the most profitable event segment:
Compared to other events, Wedding is the one in which the same event doesn't happen again. Due to this eccentricity, people are more parsimonious then when they are spending for other events. This freedom from parsimony is the number one reason for profitability.
You need decoration department, lighting, sound, invitation card supplier, flower supplier, pandit, catering services, clothing and what not! When there is involvemhent of more than one department in an event, the gross profit earning is obviously more compared to other events.
When they say Red Lilies, they don’t mean just lilies but only red ones! When people demand with such specifics, as an event manager you can also demand a profit to fulfill that demand.
Whether they show it or not, the families have a deep emotional connect with this event. The dialogue,” Now that we’ve already spent lakhs, be it 10000 more but don’t mess it up!” just tells you emotional connect people have with this event. The more the emotional connect, the more profit you can earn from it!
All the relatives, family members out of the blues want the world to know how kind -hearted they are! in this stage. Each one has their own idea they want to execute that then becomes your source of earning money!