Report question

Note: your identity will not be shared with the person who sent you this message.
This field is required

I am looking into opening a small- mid sized event space in Chicago and would love some insight into the things I should be doing?

My dream is to have a beautiful open space to use for everything from showers, birthdays, to corporate gatherings, art galleries and photography shoots. I know what I want to do but the steps to make it happen are a bit fuzzy to me. I am currently working on my business plan but could use some help with structure and financial projections in order to secure funding.

Sign in to answer

1 answer

Hello: Its a good idea but i am concerned about the costs involved, a setup required for Birthday would be entirely different then a setup required for Photo shoot, or even galleries. most likely you will be switching from one layout to another. in simple word everyday you will be changing your interior from one to another and most businesses cant afford to change interior for years. You need to consider these points 1) You need to factor in structural change costs involved per layout - and how you will convince your clients to pay for it. 2) How many employees you need - are they part time - flexible hours or full time, and can you afford full time employees. 3) Do you have enough space for type of service you are offering, such as a photo shoot would require small space but wedding!!!! will it fit? 4) Contractors and suppliers

Obviously for your business model to be successful you need to cover all structural and labout costs from your clients, so i think you need to narrow things down at this stage e.g. start with limited services such as you only offer photoshoot service, birthday service, memorial services, corporate events, nothing else at this stage. and among each of these services you have silver , gold and platenium packages, customers have to choose from these only. and each offers 1,2,3,4,5, things, you see this way you know exactly what you CAN offer and your clients know what they WILL get. I hope it helped. Thanks

Report Muhammad's answer

Note: your identity will not be shared with the person who sent you this message.
This field is required