And now, event management services go retailJuly 10th, 2008 - 4:03 pm ICT by IANS
Pune, July 10 (IANS) Sphinx Adonis Sphinx, a city-based event management firm, will launch 100 ‘events retail stores’ in Maharashtra in the next one year and 1,000 stores countrywide in the near future to offer services in organising and managing birthday parties, anniversary get-togethers and weddings. Named ‘Eventwala’, these stores will be one-stop shops offering theme-based packages starting from Rs.500.
The first Eventwala store will come up at Wanowrie in Pune this weekend.
Two brothers, Vikram and Dheeraj Waghray, have conceived the concept after running an event management company in Pune for the past 10 years.
“We believe event management for middle-class homes has huge business potential; today, every household with kids wants to host a birthday party,” Vikram Waghray told IANS.
“There are packages for wedding anniversary parties, baby showers and bachelor parties as well,” he added.
According to a Sphinx market research report, an average middle-class home with both husband and wife working is ready to shell out between Rs.5,000 to Rs.10,000 for birthday bashes; the budget is even more for first-year birthdays.
A typical Eventwala store will be 500 square feet and stock theme-based party accessories for off-the-shelf sale, while bigger accessories will be available on rent.
Also on offer will be an online party consultancy service. A software programme is currently being designed to create an interactive online kiosk that will enable customers to view various packages and make online payments.
Stores will also be operated through franchisees, with the initial investment required to own a franchise being between Rs.800,000 and Rs.1.2 million.
Along with the stores, Sphinx will also launch an Eventwala event management academy in association with the Maratha Chamber of Commerce, Agriculture and Industry.