Potential high for events market in Kingdom


Saudi Gazette

RIYADH — When events began proliferating in the Kingdom the participation of food trucks and productive families selling in these events were high. After a while, as the number of events decreased sales of food trucks and productive families too have become less. To know more about the reasons for the declining participations, Saudi Gazette met with a Saudi food truck owner, an active participant in events, and an entrepreneur to know their thoughts about this.

Abdullah is 25 year old graduate who owns a food truck since 2 years. “When I first bought it, I, with my partners, started making burgers and I can safely say that we participated in 99% of the events held in Riyadh. Our sales were very high. Months later, we felt that our sales slipping compared to our start,” he said.

Abdullah added that though last year witnessed lots of entertainment events — “more than anyone can imagine” — with it reaching 7 events a day during weekends. Then we found the number of events somehow becoming less.”

This, in his observation, affected sales as the customers became less. “But they are very loyal to our burgers,” he stated.

On the other side, Ibraheem Alsharidah, an entrepreneur and General Manager of Alsharidah Holding Group, stated, “My analysis is quite different. Yes, I totally agree that when the entertainment sector opened up, lots of events cropped up here and there. Everyone wanted to organize an event. Many of the ideas were similar. However, this is normal because the sector was new. So everybody tried to step in, even if they are not experienced in the industry.

“And again all people were accepting and visiting these huge number of events for the same reason because it was a new concept to them. People consume everything provided to them for the same reason, because it was their first time to see food trucks and Saudi families cooking and selling in events.

“However, as months passed by, everything started to settle down, people started to become pickier about what events to go and they started to look for new themes in events and in entertainment. That led to many small companies or inexperienced players going out of business.

“Nowadays, I guarantee that the industry will significantly prosper due to high competitiveness between all key players to provide creative, different, and perfectly organized ideas with better execution of these creative plans.”

The investment opportunities are great and the potential is high for everyone who has creative, unmatched ideas and excellent budget for investment, he said, adding, “Less is more. The focus now on organizing unforgettably appealing events that can have a variety of themes and ideas and can lead to sustainability and growth in the sector. And this is a positive sign that the sector is being more mature.”