THE WEDDING AVENUE

Wedding Planner

OCTOBER 1, 2017
NUVISH PARBOTEEAH
Business Plan
Contents
1.0 Executive Summary……………………………………………………………………………………………………….. 1
2.0 Industry analysis ………………………………………………………………………………….…………………………2
3.0 Market analysis ………………………………………………………………………………… …………………………..3
4.0 Sales and Marketing Strategic Plan………………………………………………………………………………… 3
5.0 Financial Plan…………………………………………………………………………………………………………………. 5
6.0 Business Growth: Sustainability and Expansion Strategy …………………………………………………5
7.0 An Outline of Event Planning Expenses ……………………………………………………………………………6
8.0 Conclusion……………………………………………………………………………………………………………………… 7

Wedding Planning Business Plan

1.0. Executive Summary

The Wedding Avenue will be a new project for the well-known wedding planner, Platinum
Co.Ltd and is a standard and licensed professional wedding planning business that will be
positioned in the heart of Quatre-Bornes Town, Trianon. The stated phrase above is all
concern to our recommendation that ought to be implemented. The Wedding Avenue will
handle all aspects such as wedding coordination and conceptualization and design of the
wedding venue. To run a wedding planner company can be demanding, the reason why well-
trained personnel, licensed and equipped to perform excellently well.

Trianon as being a strategic location, is the right place to launch our wedding planner company
together with a wedding hall.

 Provides managements with financial analyses, development budgets, and accounting

reports; analyzes financial feasibility for the most complex proposed projects; conducts
market research to forecast trends and business conditions.

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  Responsible for financial forecasting and risks analysis.
 Performs cash management, general ledger accounting, and financial reporting for one
or more properties.
 Responsible for developing and managing financial systems and policies
 Ensures compliance with taxation legislation
 Handles all financial transactions for the company
 Serves as internal auditor for the organization

 2.0. Industry Analysis

2.1 SWOT Analysis

SWOT analysis will guide us in formulating other business strategies that will help the
company to grow its business and favorably compete in the Wedding Planners industry. As a
company, we look forward to maximizing our strength and opportunities and also to work
around our weaknesses and threats. The result of the SWOT analysis highlighted the
following:

Strength:
Our core strength lies in the power of our team; our workforce. The Wedding Avenue will be
well positioned in town with the right demography and we are confident we will attract loads
of individual clients.

Weakness:

As a new professional wedding planner company, it might take some time for our organization
to break into the market and gain acceptance in the already saturated Wedding Planners
industry; that is perhaps our major weakness.

Opportunities:
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 The opportunities available in the Wedding Planners industry is massive considering the
number of wedding and other events that takes places on weekly basis. The Wedding Avenue
is ready to take advantage of any opportunity.

Threat:

Some of the threats are competition among different wedding planners as key players in the
market. Optimism will ensure that things will continue to work for our good through
competitive prices and outstanding services by the wedding hall.

3.0. Market Analysis

3.1 Market Trends

Close observation has shown the rise and proliferation of social media and new tech tools.
Other trends include engagement ceremonies, civil wedding events and new market segments,
adopting eco-friendly measures and sustainability of events. New software apps have made it
easier for wedding planners to gather information that will help them plan for the future.

.4.0. Sales and Marketing Strategic Plan

Our sales and marketing team will be recruited based on their vast experience and will be trained
on a regular basis so as to be well equipped to meet their targets and the overall goal of the
organization.

The Wedding Avenue will be set to make use of the following marketing and sales strategies
to attract clients;

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  Advertise our business in media and on local directories
 Create different packages for different category of clients in order to work with their
budgets and still deliver quality wedding planning services to them.
 Leverage on the internet to promote our business
 Encourage word of mouth marketing from loyal and satisfied clients

4.1. Sources of Income

The Wedding Avenue will be established with the aim of maximizing profits in the Wedding
Planners industry and we are going to go all the way to ensure that we do all it takes to attract
clients on a regular basis. The Wedding Avenue will generate income by offering the
following services to individual clients and for corporate organizations;
 Wedding coordination
 Manage client’s time constraints and budget
 Conceptualization and design
 Full coordination services
 Wedding planning consulting and advisory services

4.2. Sales Forecast

We are optimistic that we will meet our target of generating enough income / profits from the
first 12 months of operations and grow the business.

We have been able to critically examine the professional wedding planner market space and
we have analyzed our chances in the industry. Sales projections are based on information
gathered on the field and some assumptions that are peculiar to similar startups in Trianon.

4.3. Our Pricing Strategy

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The Wedding Avenue will charge its clients based on the event or occasion. We will keep our
fees below the average market rate for all of our clients by keeping our overhead low and by
collecting payment in advance. We will also offer special discounted rates to our clients,
especially when needed or for advance booking made prior to wedding and also by
recommendation.

5.0. Financial Plan

5.1. Financial Projections and Costing

Starting a professional wedding planner business can be cost effective; this is because you are
not expected to acquire expensive machines and equipment. The concern is the amount needed
to secure a standard office facility in a good and busy business district, the amount needed to
equip the office, the amount to purchase the required software applications, the amount needed
to pay bills, promote the business and obtain the appropriate business license and
certifications.

5.2. Generating Funds / Startup Capital

The Wedding Avenue is a partnership business that will be owned by Mr David Beckam and
his family members. They are the sole financial of the business which is why they decided to
restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
 Generate part of the start – up capital from personal savings
 Generate part of the start – up capital from other extended family members

6.0. Business Growth: Sustainability and Expansion Strategy

The aim of The Wedding Avenue is to build a business that will survive off its own cash flow
without the need for injecting finance from external sources once it is officially running.

Profit-sharing arrangement will be available to all our management staff and it will be based
on their performance for a period of three years. That put in place, we will be able to

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 successfully hire and retain the best hands we can get in the industry; they will be more
committed to help us build the business of our dreams.

7.0 An Outline of Event Planning Expenses

7.1 Assumption of the Financial Plan for The Wedding Avenue

Setting up costs MUR

Total project costs 30,000,000

7.2 Project costs

When it comes to starting the Wedding Planning Business, loads of factors influences the
amount that will be required to successfully launch the business. These include location
selected to start the business, the size of the plot of land intended to construct the wedding
hall, as well as the state of the economy as at when the business is initiated.

The cost of the project has been estimated at approximately Rs30 million which can be detailed as
follows:

Areas to Spend Start-Up Capital on: MUR

Cost of Acquiring Land 2,000,000
Total Fee for Registering Business 5000
Legal Expenses for Acquiring Licenses and Permits 5,000
Cost of Hiring Business Consultant 3,000
Cost of Building and Civil Works 2,200,000
Purchase of Furniture 10,000,000
Operational Costs for First Year 4,000,000
Insurance 75,000

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 Marketing Promotion Expenses 10,000
Other Contingent Expenses 100,000
Cost of Grand Opening Party 50,000
Total Project Costs 18,448,000

7.3 Projected Profit and Loss

As the profit and loss table shows, The Wedding Avenue will continue its steady growth in
profitability over the next five years of operations.

Year 1 Year 2 Year 3 Year 4 Year 5

MUR MUR MUR MUR MUR
Revenue
Sales 23,400,000 24,570,000 26,289,900 28,918,890 33,256,724
Direct Cost of Goods Sold
5,000,000 5,250,000 5,617,500 6,179,250 7,106,138
Operating profit
18,400,000 19,320,000 20,672,400 22,739,640 26,150,586
Expenses

Payroll 1,668,000 1,751,400 1,838,970 1,930,919 2,027,464

Marketing Expenses 10,000 15,000 20,000 25,000 25,000
Depreciation 1 100000 900,000 700,000 500,000 300,000
Electricity Bills 170,000 178,500 187,425 196,796 206,636
Water Charges 120 000 123 600 127 308 131 127 135 061
Contingent and other Expenses 122 000 125 660 129 429 133 312 137 312
Finance costs(tax,permit,auditor,accountant) 969 480 866 981 764 478 661 979 559 480
Profit 14,240,520 15,358,859 16,904,790 19,160,507 22,759,633

8.0 Conclusion
We can note that the payback period hints us about taking up the project
as the recovery period is of approx.. 2.4 years. In short,we can go further
with the project.

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