Hello!
So, here is my feedback on the concept!
I donât think the market is big enough and the product does not add enough value to a process that is not that problematic. Basically, there isnât enough pain to pay for this problem.
So the way venues are booked is that people or companies usually book venues close to their location. So if I am based in Victoria Island, I will not venture beyond the VI, Ikoyi, Lekki environs when venue hunting. The number of venues in these locations are very limited. And most people already know about these venues, so there is no - little value in terms of helping with discovery. This applies in Mushin, Apapa, Abuja, Port-HarcourtâŚeverywhere.
With booking, well, bidding is not part of the Nigerian buying culture. When bidding, there have to be enough bidders so that the thought of loosing the venue makes people commit. Like I said earlier, the market is too small. Why bid, when I can just take a 10 min drive to the venue and make a payment.
I am not sure if you have spoken directly to the market, that is people who are hosting functions, both corporate and social and the people offering the venues to rent. Ask them very striaght forward questions like, "How much are you willing to pay for the services this website offers? Not many people will go, Wow, I this is awesome, why doesnât it exist?
As for the planners aspect, thats even less viable. You should also test this concept by attempting to plan an event with the aid of a planner, then you will understand just how challenging it is to automate the process online, bid, auction, etc. Planners are personal and are chosen for a whole host factors that cannot be controlled online.
If this concept was strictly a directory with an advertising business model, I would have been more positive. But even that is a struggle. You will probably get better ROI by renting land and running your own events center or planning your own functions. But this sort of business cannot net you more than a a few 100ks (early hundreds), best case scenario after years of pain.