Business Idea

Become An Event Promoter

About

Becoming an event promoter requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell events, or selling events online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to become an event promoter ➜

Key stats

market size
$23.5B
starting costs
$23.8K
gross margin
33%
avg product price
$25
time to build
7 months
growth
SEO
time investment
Side project
work from home?
Yes

About

Becoming an event promoter requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell events, or selling events online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to become an event promoter ➜

Key stats

market size
$23.5B
starting costs
$23.8K
gross margin
33%
avg product price
$25

 

time to build
7 months
growth
SEO
time investment
Side project
work from home?
Yes

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $151 $352
Website Costs $303 $7,215
Business Formation Fees $5,600 $20,400
Software Expenses $162 $3,094
Advertising & Marketing Costs $0 $2,000
Other Expenses $0 $800
Total Startup Costs $6,966 $40,861

Successful Businesses

Business URL Rank
Bandsintown bandsintown.com #18,866
The Events Calendar theeventscalendar.com #30,116
Live Nation livenation.com #45,164
World-Class Endurance Race Technology hakuapp.com #195,776
MemphisRap.com Β» memphisrap.com #210,415
Chevrolet Detroit Grand Prix detroitgp.com #282,732
Home avpamerica.com #292,007
ezEvent ezevent.com #303,986
BoothCentral boothcentral.com #474,878
ENP Network enpnetwork.com #475,592
Arnold Sports Festival arnoldsportsfestival.com #567,899

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Meaningful business connections You never know who you will meet as a event promoter. This could be the start of an incredible business opportunity!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Pick & choose the clients you work with Event Promoteres have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!
Control of workload With becoming an event promoter, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Low margins The gross margins for your event promoter are typically around 33%, which can make it more challenging to incur new expenses and maintain profitability.
High overhead expenses With becoming an event promoter, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.
Churn In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.
Time commitment With becoming an event promoter, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.
Difficult to build trust with your customer With becoming an event promoter, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.

Marketing Ideas

  • 1

    Affiliate program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

  • 2

    Direct Sales

    Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.

    For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

  • 3

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.