Nature of Business: Event Planner
DNA Growth – What is the nature of the business?
Raunik – I founded Insomnia Events in 2012 and started off as club promoters. Learning everything on the job we kept improvising and trying out different verticals in the event industry. And today we are into full-fledged wedding planning, Artist Management, Corporate Events, and Club & Private Parties.
DNA Growth – What are the initial challenges that you faced in your business? How did you overcome those challenges?
Raunik – I faced a lot of criticism in the initial few months as no one understood what I was really doing but once they started seeing the success everyone was happy about it. We went through a downfall during the time of demonization but overcame it as things went normal for the whole nation. Similarly, now our industry has come to a complete standstill during the Pandemic but being optimistic about it we just hope and pray that we overcome this soon and get back to entertaining people again.
DNA Growth – What are the service and solutions you’re providing to your client?
Raunik – We are basically into the entertainment & hospitality field. The main focus of our business is entertainment and hospitality. The other services like catering, decoration, transport, logistics, etc. are outsourced to our regular and trusted vendors.
DNA Growth – What effect does Covid-19 have on your business?
Raunik – As the event industry is majorly based upon the number of people attending events and public gatherings, Due to the Pandemic it has come to a complete standstill. Although we have organized a few Online events, Digital concerts, and Corporate online meetings it isn’t the same as a live event speaking both revenue wise and experience-wise.
DNA Growth – How are you utilizing your time at home?
Raunik – I am trying to learn more related to my field. And working on a few concepts that we’re planning to launch after the lockdown. We’re planning to do events related to comedy, music, food, and sports and we’re working on it.
DNA Growth – In the year 2020 what is your expectation in terms of the business?
Raunik – I am not expecting much with 2020. Even though we are permitted to do events for 50 people or less. It’s not a sustainable model for the event industry. By the time things get to normal, the season would already be over. But I am highly optimistic about the next season that would be September 2021 to April 2022.
DNA Growth- How are you will look for your business, once the lockdown is over?
Raunik – We are actually looking forward to it. The lockdown has given us time to work on concepts of intellectual properties related to comedy, food, music, sports, fashion, etc. So once the lockdown is over we would be coming back with a big bang.
DNA Growth – What do you think where you will need support after this lockdown?
Raunik – We are going to need investors and sponsors for our events. The economy is quite shaken right now so the companies we relied on for sponsoring events before might not be able to, so that might be a challenge but keeping my fingers crossed.
DNA Growth – How have been you’re motivating your employees in this situation?
Raunik – To motivate employees we started to assign online work. Now they can work from their home. Organizing online meetings with the clients those events are on hold. This situation helping clients think about what they exactly want for the event because we have a lot of time for planning after lockdown it helps to team in organizing events perfectly.
DNA Growth – What message do you want to put across to our readers?
Raunik – I am aware that the world is facing health as well as an economic crisis at the moment. But I believe, we will get through it. I have faith that just like every other difficulty that might have come our way over the past few years, we will be able to rise above this situation as well.