Party & event company-your valued opinions please

[shopgurl]

Planning on setting up a personal party/event/etc.. company.

Would like to get an idea from those living presently in Bangkok, would you consider hiring such planners for your special occassions?  And anything you find still missing in Bangkok regarding event management?

Thank you all in advance.

[Indo-Siam]

Hi Shopgurl -

I'm not sure that you can make such an enterprise fly here - it depends how long you can underwrite the efforts while you build business.

That was the question that put "on ice" a similar initiative that I outline below:

I helped put together a partial business plan for a costume rental business in Bangkok - developed following some "what if" discussion in conjunction with a large Thai garment manufacturing business here.  (my angle was providing costumes with a special sort of ice-like cooling inserts, through my Thai SuperCool business - "Cool Costumes").  Costume rental would be a natural tie-in to a party/event business.

Within that business plan, the initial target markets identified were:

Foreign embassy parties for staff and family

Foreign chamber of commerce parties

Multi-national corporation parties and events

Theme parties by resorts, bars, restauarants, cruise ships

Ex-pat family parties

School drama productions

The bottom line of the costume business was to get a sustainable business going here, and then mini-mass-produce costumes for export to other neighboring countries- "costume shop in a box". Again, one of the initial planners was a Thai garment manufacturer.

The problem:  There are no costume rental shops in Thailand.  Big opportunity!!!!!  But - Thais are slow to embrace many new ideas.  How long could we persist without profit, while we gradually built a business with which Thais were unfamiliar???

'Sorry to hi-jack your thread.  Maybe something in there will be of use to you.

Good luck!

Steve Sykes

Managing Director

Indo-Siam Group

Bangkok

[email protected]

[shopgurl]

To Steve,

Thanks so much for your input and no need to apologize, appreciate your views on this greatly.  

What you have stated above is honestly exactly the implications that me and my business partners have discussed but in all aspects, we agree that we are venturing into unchartered territory but as they say: "Nothing ventured, nothing gained. If you don’t risk anything, you won’t gain anything."

I truly believe that there is a viable market out there (how many times have you said to yourself, "hmmm I wonder where I can get someone to arrange this party for me without the hassle of doing it myself?" or "Or why can't I just rent a darn costume for this darn party!!").  Even with the most minuscle of chances, discouraging such possibilities with the generalization that Thailand is not ready is not acceptable I believe.

Call me an optimist maybe but aren't there still possibilities?

If you're still interested in this idea yourself, would you consider a possible partnership?

[kwiz117]

"Nothing ventured, nothing gained. If you don’t risk anything, you won’t gain anything."

You are in the right track and a very good idea. The world now runs on ideas and how able you are to convert your ideas into actions. If you are very positive you can achieve what you want and if you think about problems all the time, then you will not be able to do anything. This does not mean that you should jump into your ideas and invest your life time earnings without doing a proper Feasibility and a Market Research.

I do think that you and your friends have done the basic Home Work and have a proper action plan before investing money into this venture.

Party Business is basically a Service Oriented Business though some part of Product Orientation also comes in to the picture in some areas. Your business is basically comes under “Outsourcing” in management jargon.

If I want to organize a Home Party and if I know a small company who can organize this event; then I will certainly evaluate that option first. By doing that, I am expecting for you to give me below benefits.

1.You will be informed the Type of Invitees [Age, Profession, Social Status etc] thinking that you will be able to propose me some alternative plans, agenda, set of events to consider for the Party.

2.I will expect you to help me in sourcing the needed products such as Tents/Huts, Chairs, Bands, DJ’s, Catering, Invitation Cards, Decorations etc from the sources you know for a price that I am unable to obtain by myself from the market. [ I will think that you have continuous contacts and business relationship with above suppliers so you will get a commission on selecting them for my party and you in return will transfer that benefit to me]

3.I will expect all the above Items that you source from various other Companies will be at a very high standard of quality because I will assume that you already have used the services of those suppliers many times before.

Therefore, I will think it is safer and risk free for me to go with your list of recommendations than selecting some unknown parties by myself.

4.I will also expect you to fit everything into my Budget and if in any unexpected price increase occur due to any wrong estimate given to me from your company, to bear by your Company.

5.I will expect your Company to clear all mess in my house after the Party and make it to the original condition.

Basically this is what I expect from a Home Event Management Company for a Party.

Good Luck with your new venture.

[Indo-Siam]

Hi Shopgurl -

Could you send me a conventional e-mail at [email protected]?    I will respond with some thoughts.

Based on current activities vs. "bandwidth"  - and also financial cobsiderations, I am not in a position to seriously pursue any new initiatives in the short run.

My company's first paying work EVER was to assist with an evening cocktail reception at the Hotel Plaza Athenee, celebrating a contract signing between Thai Airways and Amadeus Global Travel.  I learned quite a bit - that would be applicable toward aiming a party/event management enterprise at corporate clients.

Regards,

Steve