Looking into a unique idea - actually unique!

ideaburst

The idea:

I was watching a TV programme on RTE last night, and one of the guests on the show said something and straight away I thought 'wouldn't that be a good idea'. It was just a passing remark but it made me think of the idea. As I am apt to do, I searched for the idea, looking for any websites or social media profiles around it - but nothing

Another sign is whether the obvious domain name has been registered (especially the .com obviously) - but it is free and all variations I've checked are free.

The sector:

This is obviously extremely rare to find a unique idea (or at least one that I can't see has been tried before), but the fact that it is in the events / entertainment space made it more likely - it is a unique and simple spin on a very popular and mainstream activity. Something (that is really popular with people) for 'x' (the idea). So let's say something like 'theatre for rockers', where it is a weekly theatre event catered to appeal to an unusual demographic.

The plan / approach:

It's the type of idea where you could simply register the domain name, the social handles / profiles, and then look to gather a few interested event hosts / participants and an interested venue. It's also the kind of idea that where once the first event is planned or has been a success, it could spread like wildfire on social media and get lots of write-ups in city / national news sites and blogs, etc (not that you would ever depend on that happening as a given of course). It's actually the perfect fit for social media.

Competition (post-launch):

In addition, it's the kind of idea that could easily replicated - it would literally just involve someone in another city or country seeing it, and doing their own event there under the same name / title. So I am wondering if I should even look to trademark the phrase, although that might be getting ahead of myself.

In fact, even if someone did copy it, it would validate the concept and I would have the official site / FB profile for the concept in any case. Possibly similar to if someone set up their own 'Humans of x city' in another city, or another 'parkrun' - still there would only be the one official originator of those concepts.

Feedback and costings / margins:

Anyway, guess I am just looking for general feedback please, in particular from anyone with experience launching and running events / concepts in the events area. I think it's the kind of event that would work well with a €10/head entry fee, with a small amount of food and refreshments included. So taking out the venue's fee (if any?), the fee to the performers and the cost of refreshments would probably leave you with a few euro in margin - so it would depend on good numbers and the idea capturing people's imagination on social media, etc.

TripleAce

ideaburst wrote: »

The idea:


Competition (post-launch):

In addition, it's the kind of idea that could easily replicated - it would literally just involve someone in another city or country seeing it, and doing their own event there under the same name / title. So I am wondering if I should even look to trademark the phrase, although that might be getting ahead of myself.

In fact, even if someone did copy it, it would validate the concept and I would have the official site / FB profile for the concept in any case. Possibly similar to if someone set up their own 'Humans of x city' in another city, or another 'parkrun' - still there would only be the one official originator of those concepts.

Feedback and costings / margins:

Don't worry about that. There are millions of "ideas" ready to be copied on every field out there - 99% is about execution, and there is where most fail. Whatever this is just execute at your best and when the competitors start coming up just deliver much better than they do.

ideaburst

TripleAce wrote: »

Don't worry about that. There are millions of "ideas" ready to be copied on every field out there - 99% is about execution, and there is where most fail. Whatever this is just execute at your best and when the competitors start coming up just deliver much better than they do.

Cheers yeah, as I said it would be more just good to see for the validation if it did happen! Imitation is the sincerest form of flattery after all!

I am more looking for tips on how to go about trialling an event. Guess it's a case of just trying it - figure out who to partner with both in terms of the participants and potential venues.

Do people who run events at a modest €10-15/head entry fee with low costs make much profit...I know it's going to depend on a bunch of factors but would be great to hear some perspectives.

Bandara

Depends on the person running the event

Depends on what the event is

Depends on the production of the event

Depends on why the event has not been done before. And believe me, it's not because someone in the industry hasn't thought of it.

Your better of just saying what your idea is and you'll get feedback from relevant people here who will tear it apart / point out the positives for you

Trust me. No one is going to run off and make their millions off it.

ironclaw

To give you an idea of event costs, I know the summer party for employees of one particular Fortune 500 in Dublin has a budget of close to €500k. The production value is immense but never underestimate the costs of putting an event on.