The events industry is one of the most exciting industries to be working in. No two days are ever the same and you’ll never know what event you could be running next. Besides the excitement of working in a diverse industry, here are some other key advantages to working as an events franchisee.
The events industry is one of the most exciting industries to work in, so if you’re thinking about making a life change and starting a new career with an events franchise, here are some of the biggest advantages to working in the events sector.
Why should I start an events franchise in 2021?
The events industry has come through some tough months, but is looking to rebound strongly. At its peak, the sector saw an annual spend of over £70 billion [Conference News] and, as gigs, theatres, museums and festivals re-open, franchises are looking forward to making up for lost time.
4 advantages of running an events franchise
As of 2014, the events industry employed around 530,000 people in 25,000 events business, making this a highly competitive sector. But, as a franchisee, you’ll have a number of considerable advantages over your competitors.
1. Training and support
While smaller and independent businesses might not have a network of contacts, expert-driven training and ongoing support at their disposal, you certainly will. As you’ll be joining a franchise that has been operating for a number of years, you’ll be able to benefit from the experience and knowledge of your franchisor in a way that other companies won’t.
Depending on which franchise you choose to join, you may receive anything from business, sales, a revenue tutor, a personal business coach, to preferential financial brokers and anything else you can imagine. As a franchisee, the training and support is considerable and will certainly give you a competitive advantage over your customers.
2. You’ll be in demand
As part of a franchise, you won’t need to spend lots of money on getting your business off the ground. In fact, it will be the opposite. As you’ll already be a part of an existing and reputable organisation, you’ll have a pre-existing customer base ready beforehand and willing to pay you for your services.
While this is all very good news for your business, this also means that over the long-term, you’re far more likely to retain many of your customers as well as gain new ones. Franchises are very successful at both retaining and gaining customers so not only will you be in a fantastic position to grow your events business, you’ll have better prospects in the long-run.
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3. Your days will be varied and diverse
As an events franchisee, you could be working on entirely new projects from one day to the next. On top of this, your working patterns and daily tasks are guaranteed to be different. Often, you can expect your day to consist of something like:
- Chairing meetings: As a large number of your team could be travelling to meet clients, you’ll need to check in with them to ensure everything is going smoothly.
- Meeting new clients: New clients will be making enquiries regularly, so you may need to be meeting them face-to-face, or even virtually, to discover their needs and to tailor your services.
- Planning events: You will be preparing and planning many complex events, sometimes all at the same time, so you can expect this to take up the majority of your business’ time.
- Negotiating: In order to make many of your events happen, you’ll need specialist equipment to arrive before the event occurs. So, you’ll need to have a well-coordinated supply chain, capable of delivering everything you need. This is another part of your business that a franchisor will be able to help with.
As you’ll be responsible for taking the lead on many of these tasks, you might want to have numerous different team management skills at your disposal. While you won’t necessarily be required to have been a manager or experience of working within the events industry beforehand, you may stand out as a potential franchisee if you have the following skills:
- Team management
- Good communication
There will be training to help you develop some of these skills, but as you’ll need to be proactive on taking the lead on many aspects of your business, these are skills that you may want to perfect before opening your doors.
>> Read more:
- Franchising 101: The Official Franchise Start Up Checklist (Part 1)
- Franchising 101: The Official Franchise Start Up Checklist (Part 2)
- New Year, New Career: No Better Time Than Now to Start a Franchise Today
- Franchising 101: 8 Signs You're Ready to Start a Franchise
- Starting a New Business Doesn't Always Lead to Immediate Success: Here Are 5 Ways to Change That
- It's Never Too Late to Start a New Business
4. You can grow and specialise in the future
You may want to work across the entire events industry, and many franchises do. However, you may also find that you want to focus on a particular sector of the events industry. As there are a wide range of specialist services operating in the events sector, you will have the freedom to tailor some of your services.
If you decide to want to specialise further, you may want to consider operating a franchisee for one of these franchises:
- If you want to be a leading provider of marquees for events like birthdays, weddings, corporate events and garden parties, you may want to work with the Party Tent Company.
- Or, if sport and leisure sound more interesting to you, DIGI-SPORTS’ signature event wall is a fantastic and exciting option for a whole range of events.
Run an events franchise and enjoy a profitable and exciting industry
Running a franchise business is one of the best ways to enjoy working in a competitive and exciting sector. With plenty of support to help you on your journey, you will be able to reap many of the profitable and exciting rewards of the events industry, all while minimising the risks to your business.
If franchising sounds like the right option for you, but working in the events industry isn’t, you can see a full list of other sectors in which there are exciting franchise opportunities in the UK. franchise directory.
Elliott Fudge, Point Franchise ©