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Thread: Events Management

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    Events Management

    Hi Guys.

    I'm looking at starting an events management (& possibly catering as well) company and getting my mom involved.

    I thought I'd scout your brains a bit before I go into any ventures.

    Firstly, is the field saturated at all, or do you believe there is good potential for a small startup to grow?

    Secondly, what sort of initial capital may be involved with something like this? I would suspect not much, as most items I would guess are on a relative cost basis i.e. pay for it when you need it type thing.

    Thirdly, is it better to try target corporates and SMME's or the private sector?

    Also, do you think registering for VAT would assist in getting corporate customers over competitors?

    What are any other thoughts you may have about something like this?

    Regards

    Itai
    If you need any Accounting, Tax or even Financial Management advice, PM me and I'll try help and keep your information confidential.

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  2. #2
    Platinum Member Marq's Avatar
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    There are many companies and people in tis game. This is mainly because as you say there are few barriers to entry.

    As far as I can make out - it is a cutthroat, stressful, finicky and clicky business to be in.

    The corporates are where the money is - They look for experienced people from reputable companies to do their events though and an individual may find it difficult to crack that market. Smaller companies, clubs etc are cutting down on these kind of things at the moment.

    You only need to register for vat once you reach the turnover levels. I dont think that the registering a company and vat bit really helps anymore to secure business. Being self assured, knowledgeable, and having the right resources at the right time is what counts.

    Have you got any experience in this field?
    The cost of living hasn't affected its popularity.
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    eitai2001 (03-Aug-09)

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    Quote Originally Posted by Marq View Post
    There are many companies and people in tis game. This is mainly because as you say there are few barriers to entry.

    As far as I can make out - it is a cutthroat, stressful, finicky and clicky business to be in.

    The corporates are where the money is - They look for experienced people from reputable companies to do their events though and an individual may find it difficult to crack that market. Smaller companies, clubs etc are cutting down on these kind of things at the moment.

    You only need to register for vat once you reach the turnover levels. I dont think that the registering a company and vat bit really helps anymore to secure business. Being self assured, knowledgeable, and having the right resources at the right time is what counts.

    Have you got any experience in this field?
    Hi.

    No, this would be a new venture for us ... but we would start it off small as a part time field.

    Although, maybe it is not a good idea to invest time into a NEW venture like this in the current economic situation.

    I just wanted something for my mom to be able to do because she is too old to get a job at most places, but at the same time I don't want her to overstress.

    Thanks for the input ... will give it a few months and see how the economic situation does.

    Regards

    Itai
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    Quote Originally Posted by Marq View Post
    and having the right resources at the right time
    ...in the right place...

    Read "contacts"
    The trouble with opportunity is it normally comes dressed up as work.

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    Quote Originally Posted by eitai2001 View Post
    Hi Guys.

    I'm looking at starting an events management (& possibly catering as well) company and getting my mom involved.

    I thought I'd scout your brains a bit before I go into any ventures.

    Firstly, is the field saturated at all, or do you believe there is good potential for a small startup to grow?

    Secondly, what sort of initial capital may be involved with something like this? I would suspect not much, as most items I would guess are on a relative cost basis i.e. pay for it when you need it type thing.

    Thirdly, is it better to try target corporates and SMME's or the private sector?

    Also, do you think registering for VAT would assist in getting corporate customers over competitors?

    What are any other thoughts you may have about something like this?

    Regards

    Itai
    I can sell you 20% of my company. If interested, lets talk.

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    Personally, I don't have money to buy into companies ATM ... I am only a student you know, and my mom won't ... it's not her thing, was thinking just more along the lines of something for her to do to earn a bit.

    Appreciate the offer though.

    Edit: You can PM me more about your company ... and a rough indication of what you're looking for the 20% share.
    If you need any Accounting, Tax or even Financial Management advice, PM me and I'll try help and keep your information confidential.

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    Siya Zita please drop me a pm regarding your company.

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    What interests and skills does your mother have at the moment?

    Does she socialise with people who have disposable income to spend?

    Capable of coping with massive stress?
    Catering in my opinion results in similar stress levels as would be experienced by a medical team should power load shedding occur in the middle of open heart surgery.

    If this is where her real aspirations lie, suggest your mother offer her help for free to a similar business for the hands on experience.

    Yvonne

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    Hi.
    I've already spoken to her, and we have decided not to go into that at this point in time.

    Thanks for the advice though.

    Regards

    Itai
    If you need any Accounting, Tax or even Financial Management advice, PM me and I'll try help and keep your information confidential.

    Visit my Android ZA website - a website dedicated to Google Android in South Africa - www.androidza.co.za

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