Question

Topic: Strategy

Event Planning Niche Market In Calgary

Posted by sandrghai on 5/30/2015 at 12:09 AM ET 125 Points
What would be a really good niche market to get into for an event planning business startup? Considering there are a lot of event planners already, what's a niche that could separate me apart from the competitors??
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RESPONSES

  • Posted by Jay Hamilton-Roth on 5/30/2015 at 12:47 AM Accepted
    It all depends upon the needs for audiences in your region. And the answer is likely best gotten from doing a number of informational interviews with prospective clients - asking them about how they find & choose a event planner, when, and experiences with existing planners (don't sell yourself at these interviews - ask questions, listen well, take good notes, and don't overstay your welcome). Done right, with enough people, you'll have a good idea of where there's a lot of existing strengths and some potential opportunities.
  • Posted by mgoodman on 5/30/2015 at 3:37 PM Accepted
    Jay has given you good advice. Line up 8-10 interviews with the folks who hire event planners in your area. Go prepared with a discussion guide that will cover the high-gain issues for them. Ask who they use currently, what they like about them, what could be improved, etc. Don't sell yourself. Just ask your questions and take good notes.

    If you do this well, you'll have the answer to your question. And don't drag it out. Just start and finish in a month or less. You may find it so helpful that you'll expand the interview list to 12-15 different people, based on what you learn and who they refer you to.
  • Posted by sandrghai on 5/30/2015 at 4:50 PM Author
    Thanks Guys. Appreciate your responses And your help. What do you think about posing these questions online via a survey/questionnaire such as survey monkey and sharing it to
    Social media sites?
  • Posted by Gary Bloomer on 5/30/2015 at 5:37 PM Accepted
    There are any number of niches:

    Wedding planner
    Corporate event planner
    Museum event planner
    Medical conference planner

    While your idea of creating a survey is sound, sharing it via social media will largely depend on the pages you share the survey on. You may want to create multiple surveys to help you narrow down your focus.
  • Posted by mgoodman on 5/30/2015 at 6:23 PM Moderator
    Doing qualitative research with a survey tool is worse than a waste of your time and energy. It could actually point you in the wrong direction and result in a total business failure.

    What you're trying to do in the interviews is get respondents to open up about how they make decisions, what's important to them, and to identify possible gaps in the market that can provide a niche for you. Do you really expect to be able to do that with an online survey/questionnaire?

    It's not going to happen. It's also going to remove you a step or two from really understanding your marketplace. Don't logic yourself into missing a unique opportunity and ending up with a few worthless responses that have the Survey Monkey logo on them.

    Besides, how will you know if the respondents to an online survey are even the right people, or if they are telling the truth?

    This is YOUR business. Dig in and do the work to learn what you need to know.
  • Posted by Jay Hamilton-Roth on 5/30/2015 at 7:23 PM Accepted
    If you don't think you have the skills to do the interview, then hire a professional to do the interviews for you (or coach you to do them yourself). As you know, event planning is extremely "high-touch". Don't substitute "high-tech" - it'll send the wrong message from the onset.
  • Posted by Gina G. Scala on 6/1/2015 at 5:30 PM Accepted
    Only you know what truly makes your target area unique and while I can speculate what a great niche would be; the truth is what would work in my little corner of the world probably isn't going to work in yours or it could be over saturated with event planners in your area already. Someone once told me if there is a business you wished was around because you'd be their top customer; then build it and they will come to you. Why are you getting into the business? Did you have a need for an event planner that didn't exist for what you wanted? Maybe starting there can help you. Sometimes not defining yourself by a niche allows you to interact with more people and boom...the niche is there.
  • Posted by sandrghai on 6/3/2015 at 12:58 AM Author
    This is great! I love this Site! Everyone's input is much appreciated. I didn't Realize how helpful outsiders looking in could truly be, it's nice to know there are lots of helpful and supportive people out there. Thanks so much everyone! :) Cheers!
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