Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Annual Event

Options
  • 07-11-2007 4:29pm
    #1
    chuck_d_nun
    Closed Accounts Posts: 20 ✭


    Os so myself and a couple of others are looking at starting an annual event i.e. convention.

    Anyway our problem is that we are not sure what route to take with regards to doing it legit. We want to sell tickets and have stands so presume some sort of company setup is needed.

    Any ideas/suggestions/advice?

    Chuck


Comments

  • Options
    #2
    boomer_ie
    Closed Accounts Posts: 392 ✭✭boomer_ie


    chuck_d_nun wrote: »
    Os so myself and a couple of others are looking at starting an annual event i.e. convention.

    Anyway our problem is that we are not sure what route to take with regards to doing it legit. We want to sell tickets and have stands so presume some sort of company setup is needed.

    Any ideas/suggestions/advice?

    Chuck

    A convention for what?

    You need to decide on what the convention is about and for, if you PM me more information I can direct you to someone with experience in this area who would be your best bet to talk to.

    Shane


  • Options
    #3
    growler
    Registered Users Posts: 2,188 ✭✭✭growler


    chuck_d_nun wrote: »
    Os so myself and a couple of others are looking at starting an annual event i.e. convention.

    Anyway our problem is that we are not sure what route to take with regards to doing it legit. We want to sell tickets and have stands so presume some sort of company setup is needed.

    Any ideas/suggestions/advice?

    Chuck

    yes, you'll need a company to be set up.

    If you have stands i.e paying exhibitors do you need to sell tickets? what size convention are you planning? who'd the audience ? business of the general public? what size venue do you need to hold the number of people you expect? what's the competition like?

    Your biggest investment will be in marketing, typically about 20%-23% of your total expected revenue. So you'll need to identify your target market, work out how to get your message to them through a combination of adverts, direct mail, telemarketing, websites / seo / bannerrs/ blogs.

    Then you'll need to pay salaries, commission to the salespeople you're going to need to sell the "stands", add on another 15-20% of expected revenue. Selling space at a profitable level to companies when you have no track record in an industryu or in event organization, is difficult, to say the least.

    You'll need to hire people to manage the logistics of getting the stands set up at the venue, electrical contractors, computer set ups etc. + insurance. About another 10% of your expected revenue.

    Your general overheads for salaries etc. would typically be about 15% more.

    Start off with working out your target market and figure out how much it is going to cost you to ruan a sustained marketing campaign for the (minimum) 4 months prior to you holding the event.

    Identify who you want to sell space to and create a database of target companies, contact each of these at least 6 months prior to yoru planned event. Do competitive analysis to make sure you won't be directly competing for event budget at the same time.

    Work out your venue costs, hire, catering etc.

    Work out the salary costs.

    Work out whether its likely to be profitable and whether you have / can hire the necessary expertise to make it happen.


Advertisement