May 18, 2022
How to Plan a Grand Opening Event for Your Business
This post will explain how to plan a grand opening event for your business and get the most out of the occasion.
6 Tips for Planning a Business Grand Opening Event
1. Set Goals for the EventEvery aspect of your marketing should include goals, so your grand opening event shouldn’t be an exception. Before planning an event, set tangible goals, like getting contact information from a certain number of people, and intangible goals, like raising brand awareness. Overall, your goals should be to attract a customer base, build relationships, and create a memorable experience, so make decisions accordingly.
2. Start Planning EarlyGrand opening events should be planned as early as possible because it takes time for all the details to come together. If you’re holding it at another location, you’ll want to book as soon as you know the date because venues can fill up quickly. Even if you’re hosting at your home location, you’ll want to book your catering and entertainment early, especially if your event is during the summer.
3. Stick to a BudgetFitSmallBusiness recommends setting aside 20 percent of your first year’s marketing budget for your grand opening event. You’ll want enough money for your advertisements to be seen multiple times during the two weeks before the event. However, you shouldn’t spend so much that you don’t have money leftover to advertise for the rest of the year. By allotting 20 percent of your marketing budget, you should have enough to host a special event without breaking the bank. Additionally, food and entertainment costs can add up quickly, so it’s essential to create a budget that you can reasonably afford.
4. Make Sure You Have the Right InsuranceSmall business insurance protects your business if an injury or other damage occurs on your business’s property. The Insurance Information Institute suggests that all businesses have the following types of insurance at a minimum:
- Liability insurance
- Property insurance
- Business vehicle insurance
- Workers compensation insurance
5. Advertise Before the EventAround two weeks before your event, you should start advertising in your local community and other platforms. All your messaging and graphics should be consistent with your brand, but you should try to promote your event on multiple platforms, such as:
RadioWhile most radio stations make you sign long-term contracts, some stations may allow you to advertise your business for a shorter period. Start contacting radio stations early to get the best availability.
Direct MailAlthough sending mail can be expensive, sending a mail piece to every home in your business’s zip code can be an effective way to generate buzz for your event.
FlyersBefore your event, create printed flyers that you can post in your business’s area. Then, post them on community boards and other places where flyers can be placed. For example, many local grocery stores or libraries have boards where people can post ads for their businesses and events.
Social MediaIf your business doesn’t have a physical storefront, you should focus your efforts on online advertising. Facebook targeted ads are shown to people in specific demographics or zip codes, so you can guarantee that the right audience is seeing your ad.
Press ReleaseBefore your event, publish a press release providing details about what attendees can expect, including:
- Ribbon cutting ceremony details (if applicable)
- The event’s time and location
- Food, entertainment, and freebies
- Additional information about your business