Occasions Business Plan

Seema Jain
9/19/2011

Contents
Executive Summary:...................................................................................................................................... 3 Vision:............................................................................................................................................................ 3 Mission: ......................................................................................................................................................... 3 Objective: ...................................................................................................................................................... 3 Products and Services ................................................................................................................................... 3 Wedding Planning and Management Services ......................................................................................... 3 Consulting ................................................................................................................................................. 3 Strategic and Market Analysis ...................................................................................................................... 4 Economic Outlook ..................................................................................................................................... 4 Industry Analysis ....................................................................................................................................... 4 Customer Profile ....................................................................................................................................... 4 Marketing Plan .......................................................................................................................................... 4 Marketing Objectives ................................................................................................................................ 4 Marketing Strategies ................................................................................................................................. 5 Pricing........................................................................................................................................................ 5 Services ..................................................................................................................................................... 5 Organizational Plan ....................................................................................................................................... 6 Corporate Organization ............................................................................................................................ 6 Competitive comparison ............................................................................................................................... 6

Business Plan Events and wedding planner (Occasions) Executive Summary: The purpose of this business plan is for the development of a wedding
planning and consulting firm while showcasing the expected financials and operations for the year. Occasion (the Company) is Hyderabad based corporation that will provide wedding planning, design, and management services to customers in its targeted market. The Wedding Planner will develop and manage each step and aspect of a clients wedding event. For each event, the Company will earn ten to twenty five percent of the aggregate budgets for the event. This is a sliding scale, and as the event becomes more costly, then the percentage of profit earned by the Wedding Planner will drop to 8 to 10 percent. The business plan will further describe the services offered by the Wedding Planner. It is a sole proprietorship business.

Vision: To be a well respected and highly valued event management company and to be
recognized as the experts to approach for event management solutions

Mission: Mission is to achieve clients desired results for every event. Our motto is to give the
best quality at the reasonable rates with very good presentation.

Objective: Our main objective will be to provide the following services to clients
Consistent, accurate fulfillment of the client's wishes Competitive pricing for the quality of services offered

Products and Services

Below is a description of the planning and consulting services offered by Occasion. Wedding Planning and Management Services The primary revenue source for the business will come from services related to planning and managing weddings. Each aspect of the wedding will be managed by well trained staff with proper uniform given by Occasions and heading by executors till the end of the event. Consulting The Company will also generate secondary revenues from consulting fees for brides and bridegrooms that are seeking general advice for their wedding event, but not necessarily want the Wedding Planner to actively manage each aspect of the wedding. Management expects that 15% of the Companys revenues will come from these services.

Strategic and Market Analysis

Economic Outlook This section of the analysis will give detail report of the economic climate, the clients profile, and the competition that the business will face as it progresses through its business operations. Current scenario of market is not so good due to various reasons such as rising inflation, instability in the stock markets, real estates and other markets also. This may cause difficulty for generating revenue as people may spend less on their wedding events. Industry Analysis The Indias Economic Census indicates that there are approximately 5,000 companies that specializes in event management. In last five years there is immense growth in this field. This field has exploded as the economic tastes of Indians have changed significantly over the last five years as the overall wealth of the country has grown. As Indians now have more access to capital and an increased borrowing capacity, their ability to spend money on luxury items/services has also increased. Customer Profile In this section of the analysis, description of the customer will be provided by which we can acquire the type of customer we are seeking. These traits include income size, type of business/occupation; how far your customer from you is, and what the customer is looking for. Which also include demographic and geographical information as well. Marketing Plan The Wedding Planner intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the Wedding Planner.

Developing Your Image

For developing image we have to decide what all services we are going to do and how the clients have to be served . Additional benefits we going to serve from our competitors.

Marketing Objectives Establish relationships with the owners of the banquet halls, clubs and the gardens to get good discounts from them. Implement a local campaign with the Companys targeted market with the use of pamphlets, flyers, local newspaper advertisements, word of mouth and pop ups.

Develop an online presence by developing a website and placing the Companys name and contact information with online directories.

Marketing Strategies Company will promote the business through a number of traditional marketing and advertising channels. The foremost marketing strategy that the business will use is to develop connections with local banquet halls and hotels that outsource their event planning to third party wedding/event planners like the Company. This will greatly decrease the amount of advertising required by the business as once a rapport is established with these vendors; they will continually refer business to the company. The Company will also maintain a strong level of print and media advertising among local newspapers, event planning publications, wedding publications, and other news medium. The business will also maintain listings in the just dial. The Wedding Planner will also use an internet based strategy. This is very important as many people seeking local services, such as wedding/event planners, depends on the Internet to conduct their preliminary searches. Company will register the Wedding Planner with online portals so that potential customers can easily reach the business. The Company will also develop its own online website, which will showcase the elegance of events that the Wedding Planner can provide to its clients. Pricing It describes the pricing of our services and products. Services will be provided with reference to preferability of the consumers. We cant have uniform price for all the events so it will be varying from one event to another. Services Decorations Catering Tie ups with banquet hall DJs (music system) Accommodations

Competitive Pricing
The toughest competitor we have is Exotic wedding planner. Here for efficient working of our organization we have to set price in such a way that we are not beaten up by competitors. Seeing others we should not set price. Price will be set based on expenses and overheads. We should not charge higher or lower it should be charged according to the efficiency or quality which are producing or giving it to them. We even charge hourly fee or daily rates ,commission & discounting.

Organizational Plan Corporate Organization

Competitive comparison
Occasions, although young, draws from the age-old tradition of going above and beyond what is expected, every time. Our systems for event planning have been drawn up, evaluated, practiced, worked, and reworked to ensure the maximum efficiency while minimizing the possibility of error. We employ local vendors who have the same desire to be the best at what they do, while providing unmatchable services. Thus, we give back to the community by providing jobs outside of our organization. We encourage new and upcoming small businesses that provide a service within our need base to step up to the challenge of being the best through their contract with Occasions. Our products will serve the function of aiding those who cannot afford the cost of an event planner. We wish to make our event planning tips available to those who need a helping hand.

Working with Suppliers

For Event to run smoothly and cost effective way we have to find suppliers and vendors who give good discounts to us. As event Management Company we have to make connections with Food & Beverages,

Accommodations, Transportation, Recreation, Entertainment, Audiovisual, Equipment rentals, Staffing, Stagging, Party suppliers etc.