“show profit margins anywhere from 30% to 40%, including improved economy and the trend of corporate America to outsource “ – Dr Goldblatt
The special events and party entertainment industry has grown enormously in the past decade. Recent research conducted by Dr. Joe Goldblatt, CSEP (Certified Special Events Professional), indicated that over $500 billion annually is being spent on party entertainment and special events. Goldblatt is the founder of International Special Events Society (ISES), a founding director of the Event Management Program at George Washington University, and co-author of The International Dictionary of Event Management. “Suffice it to say, the marketplace is large enough to support and sustain your endeavor,” says Goldblatt. “If you’re working in one special events area, there are many directions in which you can expand. If you’re just entering the profession of special events, there’s a lucrative market awaiting you on many fronts.“
Goldblatt’s research suggest that profits in the party entertainment industry will continue to rise. Goldblatt says, “the average profit margin for an event entertainment entrepreneur was around 15%. Recent studies, however, show profit margins anywhere from 30% to 40%“. Goldblatt says, “this is attributed to the industry’s good health do to several factors, including improved economy and the trend of corporate America to outsource their meeting-planning functions.”
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