New Business in The Event Industry

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By Sam Olakunori

The Event industry is a wide industry, housing a lot of other business and business sectors. In Lagos state alone, the industry is worth about 100 Billion Naira. Today, one could spend almost a million Naira(or even more in some cases) in organizing an event. This is subject to the event type (social or corporate), the number of guests and the event venue.

This industry has also created jobs directly and indirectly for the country’s teeming population – especially the youths. In most events, you find ushers, protocols, waiters, coordinators and many more event personnel. These people can be unemployed youths or students. The jobs aren’t full time, thus giving a lot of the industry employs the freedom to do some other things, especially during weekdays – a period the influx of event is minimal.

Events are now more than having a decorated canopy, MC and a Disc Jockey. So what other businesses are new in the industry?

Logistics: One of the major problems common to events and event organization is the transportation of people and goods to and from the event venue. It is common to see a lot of people exiting an event venue, while they all wait to get transported back to their various destinations. Event Vendors also have limitations on how to move their equipment, tools, utensils, materials, etc. Some brands are now leveraging on this, providing solutions to transportation issues at events.

Palm Wine: Palm-wine drinking is an integral part of socio-cultural relaxation. Its importance is seen in traditional Igbo ceremonies like burials, marriage rites, festivals, and other customary events. It is also common to see palm wine at some weddings in the south-west. An area concentrated with the Yorubas. The palm wine business is also a new business in the event industry. With guests wanting to have the feel of old tidings, the local vibe, Event planners now have to consider including palm wine vendors in their planning.

Couple Assistant: This is another wonderful new business in the event industry. The Event planner or vendor providing the ushers sometimes perform this function. A new trend in the industry that calls for more specialized people is the Couple Assistant gig. The Couple assistants are excepted to work just as Personal Assistant on the wedding date to the couple. Each member of the couple gets an assistant. The couple assistant’s responsibility includes: attending to all well-wishers hours before the wedding, this ensures both the groom and bride as well as their maid of honour and best man are not stressed throughout their wedding day.

Recruitment Agency: One major problem event vendors do face is the recruitment of staff. This problem is very common in the industry; most vendors use casual workers or at best contract staff. Only a handful of vendors do employ full-time staff. However, there is an issue: getting the staff who has the experience and the right attitude for the job. Since staff are not full time, training them is not always feasible. This Recruitment agency or Human Resource business is another event management related business idea that will be good to leverage on, especially for someone who is already a player in the recruitment industry. The recruiter would have a pool of people, already trained to carry out different tasks. This will make the job of sourcing staff for an event easier and straightforward.

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