Steemit Engagement Challenge - S7W4 | A zero loss business.

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Some people like jobs, and some like business. An advantage in business is that it can grow very quickly if it has enough potential. And more blessings are found in business. But just as there are profits in business, there are also risks.

Hello friends, I hope you are all well. We have two family businesses. One of them is ship recycling items, and the other is wedding decoration. Wedding decoration is a business where there is no total loss; only one time investment is required here. So today I will tell you about the wedding decoration business through the contest.

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A zero loss business

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With modernity, people are now becoming more polite. Now people celebrate their important festivals and moments with splendor through decoration. Especially to celebrate weddings, engagements, birthdays, anniversaries, festivals, social arrangements, etc., decorations are in demand. And those who are wedding planners do this decoration work.

^{w3w Location of our event}

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Investment:

If you want to do this business, the investment has to be made only once. All the equipment needed to organize the event should be purchased. As the event has become more interesting with the passing of time, one may have to buy some more equipment to keep the event updated.

If you want to start this business in a entry level , then I will give you an idea of what you need to buy and how much to invest.

No.	Equipment	Price BDT
1.	Shutting Cloth(500 feets)	BDT. 50,000
2.	Tissue Cloth(Different colors)	BDT. 30,000
3.	Structure Item	BDT. 40,000
4.	Food utensils(ceramics )	BDT. 1,00,000
5.	Floor Carpets(200 feets)	BDT. 30,000
6.	Floral decor Item	BDT 20,000
7.	Ceremony decor item	BDT 20,000
8.	Hanging,Signage ,level items	BDT 10,000

^{To start this business at entry level you need to invest approximately 3,00,000 BDT/ 3000 USD. You can increase your investment by including more decoration items if you want.}

If you want to expand your decoration business more, then you can add some more facilities and create a complete package. Such as photography, lighting, videography, stage decoration, etc., can be included with your package. In this case, you have to invest separately for all these things.

No.	Item	Price BDT
1.	Photography & Videography	BDT. 1,00,000
2.	Lighting	BDT. 1,00,000
3.	Stage	BDT. 30,000
4.	Groom/bride car design	BDT. 10,000
5.	Band & sound system	BDT. 10,000

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Marketing & Pomotion:

The most important thing to make a business successful is publicity.

• That's why you must have a store where you can display various event decoration items. Your shop should be in a place where there is a lot of population.

• You can make visiting cards with the name of your shop and distribute them to acquaintances and strangers in the surrounding area.

• You can promote your business by opening an online website and social media pages.

Tips: But the way to grow the business gradually is to keep the clients who take service from you coming back by providing the best service. When your clients give positive feedback about your event, they will be marketing your business positively.

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Cost & Expenses:

Since in this business you will only buy all the materials to organize the event through a one-time investment, you will reuse the same materials for every event. So your only cost in this business is to pay the wages of the employees who will work to organize the event.

In this case, you have to keep about 6 to 7 employees. One to two of them will work on photography and videography, one to two will work on event planning and decorating, and the remaining two will work as helpers.

No.	Various costs
1.	All Employees Wages
2.	Shop Rent (No need if you have your own shop)
3.	Subsidiary Cost
4.	Adding new decor item if necessary

Many times some items may be damaged during the event, so these factors have to be taken into account when calculating the profit after the event. The daily wages of employees vary in different countries. Since event work is not daily, you do not need to hire any employees on a monthly basis. Those who will be appointed should be paid daily wages.

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Profit:

Now come the profits. The only expenses you will incur in this business are employee wages and any property damage incurred while organizing the event. After excluding all these things, the remaining money will be your profit.

To understand, I am giving you an idea about the cost and profit of organizing a medium event. One thing to keep in mind while dealing with the client is to consider everything in advance and inform the client of the budget.

Our expenses are employee salaries, shop rent, and godown rent. Moreover, if the client needs new designs and we don't have them, we try to satisfy the client by getting them from other event planners. In this case, there is some additional cost. So we make a profit of 30 to 40% on a medium wedding.

Size	Profit margin
Big Corporate Event	50-60%
Medium Event	35-40%
Small Event	20-25%

Suppose If the budget of a medium event is confirmed to be 50,000 BDT/500 USD, then our expenses are approximately 30,000 BDT/ 300 USD, and the remaining *20,000 BDT/200 USD is our profit. We take a 20% deposit at the time of event booking.

Conclusion

It is a very profitable business, and there is no chance of loss in this business. But one of the disadvantages of this business is that it often becomes seasonal. because events are not always in order. So before starting the business, you need to understand the demand for events in the area where you want to start it. Otherwise, there is no other negative side to the business.

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