Event Organizers Are Not Making Money From The December Shows – George Quaye
George Quaye, the event organizer, chief executive officer of ImageBureau, and president of the Arts and Tourism Writers Association of Ghana (ATWAG), think that this season’s lack of event venues in Ghana may prevent them from generating a profit.
George said on GBC’s Uniiq Breakfast Drive that Ghana lacks sufficient event venues with high capacities to handle large audiences, which ultimately has an impact on the price of tickets. He clarified that huge event venues provide event organizers with a better possibility of increasing profits by admitting more guests while lowering ticket prices.
“You have a greater chance of generating some nice money if you have a really large venue.” “You can lower the cost of your tickets and accept more people that way.”
“However, if the venues are small, they have a limited amount of room and are highly expensive to hire. As for the venue owners, it’s just a matter of supply and demand. Naturally, the price of those locations will increase if there are a lot of event planners seeking event space and there aren’t many available spots. Additionally, if the price goes up, your cost of manufacturing must likewise go up.
“When ticket prices rise, you limit the number of people who can attend your event, and when you limit the number of people who can attend your event, you’re approaching a break-even or a loss point,” he added.
He claims that any profit earned by event planners will be in the form of equity rather than cash, implying that they will become known and may receive referrals for new contracts as a result.
“A lot of the events may not make any good money, but equity as an event planner, someone might get to know you and say, “Oh, okay, you are the one who did this, you can do this, so when my company is doing this, I will call you to come and do it for me, and then you can get some money from that,” but if you are looking to make money from the events, I doubt any event is making any good money this season.