In this post, I will show you how to start event planning in Nigeria and make money from it. In every part of Nigeria, events are a part of us as much as the daily aspects of our lives.
There is always someone somewhere getting married, a chieftaincy, and so on. In the euphoria of an important event of their lives, Nigerians don’t want to plan their occasions by themselves by themselves; they are just too held up by other things to go through the stress of running the events’ activities by themselves.
Hence, they hire a good event planner, one who can be sure to give their events the success and spotlight it deserves.
As such, the Event Planning industry in Nigeria is a booming industry. You just can never run out of events in need of planning.
The event planning business is very lucrative, as you don’t even need any particular equipment to get started. You are not even required to have a permanent business location.
You can just decide to start your event planning business from the comfort of your home, or to do it as a side gig for earning extra cash.
How to start event planning in Nigeria
This guide shows you how to start an event planning business in Nigeria, plus how much profit you can make from it.
Key Players in The Event Planning Industry in Nigeria
Even though the event planning industry looks like an oversaturated industry in Nigeria, five notable key players remain who have been able to make their event planning business more successful than others in the industry.
1. Zapphire Event. Owned by Funke Bucknor Obruthe.
2. Run by Deola Adelekan.
3. IPC Events. Owned by Mosun Akinwamide.
4. Bisola Trendybee Events. Run by Bisola Borha.
5. Magna Events.
Market Opportunities in Event Planning business in Nigeria
Given the numerous kinds of occasions, the demand for event planners always exceed the supply of them thereof. Especially during festive seasons, the market for event planners soar so high that event planners charge extra fees. People who need event planning expertise include:
a. Couples who are about to get married.
b. Corporate organizations.
c. Celebrants of all kinds.
Event planners get to plan occasions like weddings, corporate luncheons, charity, reunions, galas, anniversaries, and lots more.
The market for this niche is very large, making it a very lucrative niche for you, as you can earn between ₦100000-₦150000 per event. Crafting out a niche out of the event planning industry is even more profitable and shows that you are serious about it.
Knowledge, Skills and Experience Needed to start event planning in Nigeria
In the event planning industry, knowledge about starting a successful event in Nigeria is needed. You need to know the costs of hiring a venue, catering centre, videographer and photographer, decorator, entertainment, honeymoon and bridal/bachelor showers packages (for wedding occasions only), transportation, lodging arrangements, and clothing and jewelry accessories.
You also need to be skilled in people management, organization, multitasking, time management, communication, problem solving and negotiation, managing not only the staff but also your clients’ crisis as they unfold. If you don’t, your event can turn out a whole lot messier than you can imagine.
Learn all these either by attending an events planning school like Zapphire Training School and BB Academy, take online event planning courses and obtain certifications, or get a mentor in the field.
Raw materials needed to start event planning in Nigeria and where to find them
Your key raw materials are:
1. Your team; the people you hire to make that event a success. Find them through recommendations, or on social media where some of their works would be displayed.
2. Your portfolio. This would contain previous photos, documentation, certifications and recommendations from your previous works. The birthday party you once helped organize for your friend would come in handy at this stage.
Technology Needed for Running a Successful Event Planning Business
You should consider getting an event management software like Capteera Event Management Software. Setting up a website would also come in handy.
Normally, the cost of setting up an event management website ranges between ₦100,000-₦150,000. A web designer friend can do it at lesser prices. Have a smartphone containing trendy works that you have done and seen.
Best Location for an Event Planning Business in Nigeria
An event planning business is best suited to metropolitan cities in Nigeria like Lagos, Ibadan, Abuja and Port Harcourt.
Though you might be running your business from home, you should be situated around these cities. Why? This is so because in Nigeria, your clientele is located in places like Lagos where throwing huge occasions is a chance to showcase and cement your status as either part of the haves or have nots.
Getting a prime location situated to these suburbs would not only make you closer to your clientele, but also closer to your team-the videographers, caterers and others.
Funding needed to kick start your event planning in Nigeria
For as low as ₦20,000-₦100,000, you can jumpstart your business. You can source for funding from your family and friends.
If that isn’t plausible, try applying for funding from Nigerian-based foundations like Bank of industry, Tony Elumelu foundation and AYEEN Africa. You can also participate in crowdfunding. For a successful capital raising, you would need a business plan.
Business Registration and Licensing
The Corporate Affairs Commission (CAC) is the place to go for registering your event planning business. After registration, you receive the license to operate in Nigeria as an event planner.
Service Offering Tips
Networking is of paramount importance when it comes to starting an event business in Nigeria. Through friends, families, friends of friends, you get exposure to the kind of people who are in need of your services. Network your way through to success.
Marketing and Promotion Tips
Grow your event planning business through:
1. Social media engagement and campaigns.
2. Online advertising e.g. Google Ads, PPC.
3. Word-of-mouth marketing.
Company Structure and Staffing for event planning business in Nigeria
Determine the fundamentals of your company; do you want to run a commission-based company or a how would you properly account for costs and calculate the profit?
Would you calculate compensation per event or per month? Apart from your team who you hire when events are near, your permanent staff should include a bookkeeper and a personal assistant/secretary, and probably an intern who can double in as a secretary/personal assistant.
Running a successful event planning business in Nigeria can be a bit daunting at first, but it pays off lucratively in the long run.
With the right team, location, strategies and your growing experience after each job, rest assured that you will establish a formidable presence as an event planning business in Nigeria.Click here to see the latest Study Abroad Scholarships and Guides
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