Pune-based Sphinx Adonis Sphinx unveils for the first time event management retailing Sphinx Adonis Sphinx, a Pune based event management company is going to set up event management retail stores under the brand name Eventwala. These stores will retail event management services in moderate budget, especially for kids’ birthday bashes. These stores will stock theme-based party accessories for off-the-shelf sale, while bigger accessories will be available on rent. The company has plans to provide consultancy services apart from developing a software that will help customers to visualise event arrangements. “For the first time event management services will be provided in retail format. According to our market research report, an average middle-class home, with both husband and wife working, is ready to shell out between Rs.5,000 to Rs.10,000 for birthday bashes; the budget is even more for first-year birthdays. This market is currently untapped where there is a huge requirement of such services. In a retail format we will be accessible for such services, and also will be providing them to individuals for their personnel functions”, informs Vikram Waghray, Partner, Sphinx Adonis Sphinx. The company considers whoever having natural inclination towards entertainment is the target customer; that may include working parents, housewives, kids themselves and teenagers. This venture will be launched in Pune first followed by other cities in Maharashtra. Sooner it will be expanded to other potential markets. The company is going to adopt franchise route for expansion and targeting to set up 100 stores this financial year. Later on it may go up to 1000 stores. The sores will be either COCO (Company Owned Company Operated) or COFO (Company Owned Franchisee Operated). Preferable location for these shops will be major residential areas. For the prospective franchisees, the company will prefer housewives with good social networking skill, event managers, caterers, young businessmen with retail experience, etc. For setting up the shop, a franchisee needs a retail space of 500 sq. ft. and an investment of Rs.8-12 lakh. Commenting on the launching of ‘Eventwala Academy of Event Management and Training’ in association with MCCAI, Waghray says, “Our event management and training academy is started on 7th July 08. It is the first of its kind as it’s run and managed by a full time and experienced event management company. Our retail franchisee partners will be trained at our academy”.
