There are a number of companies hosting and organizing events on a regular basis. These range from the small time private events to the large-scale international events. Yes, the large scales one do happen far rarer, but then the amount of returns they churn out is far beyond expectations. However, in the past there have been events that have also resulted in losses to the hosts and sponsors for varied reasons. But then, all said and done, event management is about organization and execution, and that is precisely where the money lies. Those in the field are paid for their these services.
Today, there a number of people, who have entered the field because they realize the potential of the market where demand and supply is concerned. In fact, the most profitable aspect of this field is the need for creativity. And that is how and where one earns. There are people, who are part of this profession on an individual basis, or then as a company, having pooled in together resources – financial and manpower.
The management of events calls, largely for coordination, from stage one. The first thing required is to get the orders for the event. This process is also known as pitching for an event. Usually, whether it is for small time events (birthday parties and weddings), or then for the larger ones assigned by companies (exhibitions and trade fairs), or then the international concerts; the event manager/company is asked to submit a project report, with the finances involved. On the basis of this is the assignment given to them