Hello greetings to one and all. This is Jack Lookman welcoming you to our series:
Jack’s Curated Business Ideas
Today's topic is:
Event Souvenir
Events take place every so often. The events could be weddings, birthdays, graduation parties, naming ceremonies, etc.
In some communities it's tradition to give out souvenirs. This could be mugs, jotters, books, etc. These items could have an inscription or labels along the lines: ‘I was at the event Jack Lookman on …,’ or ‘congratulations Jack Lookman on your accomplishment.’
This is then signed off by the donor on the inscription or accompanying label.
As a content creator and author, I guess that it could be taken to another level. Books could be given out as souvenirs and relevant labels stuck-on.
Now that's only part of the idea. The party or event host could collaborate with the book seller or the supplier; the book seller could bring different books to the events, he could also bring in a portable machine for the labels. He could then market himself to the event attendees. He'll have sample templates ready and may only need to include the name or names of the donors on the labels.
He'll have his price list available and those that fit his value proposition could purchase. He could also collaborate with the event organisers in advance so that the marketing becomes easier.
The purchaser chooses the books of interest, and then the seller carries out due diligence. The products could be books or suitable others.
In other words, the seller displays the relevant books.
The party guest chooses the books or products of interest. Quantity is agreed.
Payment is made as necessary.
The seller sticks-on relevant labels, including the name of the buyer.
The buyer then gives the souvenirs to his network of attendees and the celebrants.
Benefits of this value proposition?
- creation of jobs
- inclusiveness of attendees
- creation of monetisation opportunities.
- creation of entrepreneurial opportunities.
- added value.
- could be a side hustle
- probably a blue ocean (monopoly) waiting to be tapped.
Threats or Weaknesses
- there may be different vendors canvassing for sales of other products and services at the event.
- it may take away focus from the celebrant, event or organisers.
- there may the need for large sales volumes to break even and justify the effort.
- there may be conflict, miscommunication or misunderstanding between the different participants
Is this idea worth the trouble?
As they say: ‘the taste of the pudding is in the eating.’ In most cases you may not know the outcome until you try.
It is also said that ‘nothing ventured nothing gained.’
The above is just an idea. It's open to perfection. I hope that the idea has opened your mind and thought process.
An additional nugget …
What if an app is created where event planners or hosts sign-in? Different suppliers may also sign up on the app. There will be different designs of labels; orders could be placed for the souvenir and also for the labels. Deliveries could be made in advance or at the event. In other words the process could be semi-automated.
The business model is apparently novel.
You could enjoy a monopoly before competitors join the bandwagon.
This is Jack’s Curated Business Idea for today.
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John Tosin Adekunle - Thank you for your input
Thank you very much for your time
This is Jack Lookman signing off.
Ire o (I wish you blessings)
Ire kabiti (I wish you loads of blessings)
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