How Event Management Business Can Survive in this Toughest Times?

Discussion in 'Website Development & Design' started by Praveen Raj, Apr 27, 2020.

  1. Praveen Raj

    Praveen Raj
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    Hi Members
    I am Praveen Raj. I Run an Event Management Company in Kerala. Due to the Covid-19, there's no business for event organizers like me..even after the lock down, there's no scope seeing for new works till August 2020.I have to pay rents , Salary of Employees, Bank debits etc.
    Should i Stick on this same business or move to another business? Any Guidance appreciated

    Regards
    Praveen
    Co-founder
    KWP Events Kochi
     
  2. bookfocal

    bookfocal
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    Hi Praveen, what kind of events do you do? I know things are difficult, our business is being impacted by Covid as well.

    I think it's important to try and lean out your business as much as possible and if possible find ways to pivot and create new revenue streams. Is there any way that you could offer presales or something is supplement cash flow? Perhaps you could work with vendors to secure credit?
     
  3. Praveen Raj

    Praveen Raj
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    Hi Mate
    We do both weddings and Corporate Events in Cochin Kerala. Our KWP Event Management Kochi have in house production facilities. We hire artist vendors only. We have a plan of Food Processing business along with the events.
     
  4. bookfocal

    bookfocal
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    Yes it is a tough time for us in the event industry. I think the positive thing is that when COVID passes there will be a huge surge. Lots of people that can't get married right now are postponing to 2021 which means that 2021 will be oversaturated. There will be much higher demand which means that vendors will have less competition.
     
  5. satyaprakash

    satyaprakash
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    Go with Virtual Events on social media platforms like Facebook
     
  6. VITS USA

    VITS USA
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    Covid-19 is really a big problem in India and other countries, and it is affecting traditional business. In this situation, you should focus on online business like eCommerce website or network Marketing to handle current situations which will help you to earn money and learn new skills.
     

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