Okay, so we have considered all the requirements for starting an event planning business.
Celebrities Our Competitive Advantage Whilst starting Sheldon Event Center, we intend to ensure that our business is not only established to make profit but is also able to compete favorably with our competitors in the industry.
Our vision is to ensure that we not only meet but exceed the expectations of all the clients that make use of our event center and our services, and this is one of our competitive advantages against our competitors.
Our event centers have modern and conducive facilities such as 4 room options that have various capacities of 30 to guests, thereby giving our clients varied options in terms of picking something suitable for their event. Asides, the event coordinator, we also have a professional wait staff that have the experience of handling different kinds of occasions that will crop up at our event center.
All our staff project and communicate our brand all the time by giving excellent customer service to our clients regardless of events or packages. Finally, we are the best at caring for our employees as we offer the best salaries and welfare packages in the whole of Iowa within our category as a start-up event center in the industry.
We also ensure that our employees undergo training that will enable them become better and more productive for our business. We have event business plan format other services that are not only intended to generate income but also to be able to cater to all the needs of our different clients.
Our location in Urbandale — Iowa has us quite optimistic in that we will not only met our set revenue generating target in the first year but that we will make marginal profit that will allow us grow our business and eventually expand it during the second year.
However, to be able to make a factual sales projection, we have been able to take a critical look at the industry in order to analyze our chances and come up with a sales forecast that we can use to adequately plan and draft strategies for our business.
The sales projection was however gathered based on information and assumptions that were peculiar to event center start-ups here in Urbandale — Iowa. Therefore below are an accurate sales projection for Sheldon Event Center based on the location of our business and several other assumptions; First Fiscal Year-: The above projection was done based on what is obtainable in the industry, and also on several assumptions such as an arrival of a major competitor in same location, as well as a continuous and steady economic growth, within the period of the above projections.
Should there be any change in the assumptions either positively or negatively, it is likely to affect the above stated figures, causing an increase or a decrease.
Marketing Strategy and Sales Strategy The event center business just like any business will require marketing in order to not only event business plan format awareness for the business but to also ensure that revenue is generated to keep the business going.
To draft effective marketing strategies that will bring the best results for Sheldon event Center, we conducted a market survey that allowed us privy to information that will enable us to not only penetrate the market and attract the right customers but also compete favorably with other top event centers here in Urbandale — Iowa.
We have also hired the services of a reputable marketing consultant, who understands the business and industry well to help us achieve our intended marketing goals and objectives. The marketing consultant will look at what strategies will be more effective for us in the short and long run.
Our marketing teams have also been empowered to review, tweak and remove strategies that are considered ineffective on behalf of the company. We know how important the internet especially as regards improving the effectiveness of marketing.
We intend to build an interactive website that will show our attractive halls and other services to clients, especially potential ones. Our social media platforms will also be used to target our customers online and generate interest about our event center.
Therefore the following are the strategic measures we will adopt at Sheldon Event Center to market our various services; Visit corporations and government agencies to formally introduce our event center and all the services we offer Throw a unique themed party when we open our business in order to generate interest and create awareness about our vent center Advertise our event center in local newspapers, magazines as well as on radio and television stations Engage in direct marketing Ensure that our business is listed in online and offline directories Use social media platforms such as Instagram, Facebook and Twitter as well as our website to market our event center Event Center Business Plan — Publicity and Advertising Strategy Publicity is a very important process for any business that intends to create awareness in the industry.
Even though we offer the best and unrivaled services here at Sheldon Event Center, we intend to continue to publicize this so that our customers — existing and potential as well as our competitors can be aware of what we are offering. In publicizing our event center, we intend to explore all means that will allow us gain the awareness we seek.
Publicity and advertising is a two edge sword because not only does it make a business gets noticed, it also serves as a means of generating revenue for the company. This is why our publicity and advertising strategies will be drafted with a publicity consultant so that we not only advertise and increase our awareness but also effectively communicate our brand.
Therefore, below are the various platforms, we intend to use in publicizing and advertising Sheldon Event Center; Ensuring that we place adverts in local newspapers, magazines as well as on radio and on television stations Writing free columns for the local newspapers that are focused on event centers Allowing one non-profit organization have a free slot every quarter of the year Ensure that we use social media platforms like Instagram, Facebook and Twitter to vigorously promote our business Distribute our handbills and paste our fliers in target and conspicuous areas Install our bill boards on strategic locations all around Urbandale — Iowa Our Pricing Strategy When it comes to the rates we intend to charge for our services, we have come up with a pricing strategy that will meet with the budget of our clients here in Iowa.
There are different packages and categories with varying rates available for all our different clients and we have ensured that each package is not only affordable but will meet and exceed the needs of all our different clients. In a bid to raise awareness and also attract customers to our business, we intend to offer our customers a discount for the first three months of business.
We have ensured that the discounted rates we will offer our clients will in no way allow us run at a loss even though we might be operating on a low profit margin for the duration of the discounted prices.
Payment Options Due to evolving technologies, we at Sheldon Event Center understand that there are varied payment options that our clients would prefer, and we have come up with different payment platforms that will be suitable for our different clients; Below are the payment options that will be made available to our clients; Payment by check Payment via online payment portal Payment via Point of Sale POS Machine The above payment options were careful chosen by us and will run without any form of hitches or inconvenience to our clients.
Start — Up Expenditure Budget Starting an event center can be quite demanding especially at the initial stage, where one is expected to spend the bulk of capital on certain on certain aspects in order to ensure that the event center is up to standard. Most of the bulk of the capital usually goes to securing a hall and then equipping the hall to certain standards for clients.
Also, start-up capital is usually used to sustain the business by paying salaries of employees and certain bills until the business is able to generate the revenue that will allow it sustain itself. The amount above includes leasing of the facility for use as well as paying the salaries of employees for at least 3 months.
Sheldon does not intend to seek for external investors in running or financing her business, hence her reason for restricting the sources of income to just 3 sources; The three areas where the start-up capital will be generated from are; From personal savings and sale of stock Soft loan from family members and friends Loan from commercial bank N.
As it stands all the necessary documents have been signed and the amount will likely be credited to the business account any moment from now. Event Center Business Plan — Sustainability and Expansion Strategy Every business that is established to make profit intends to use such profit in sustaining itself and possibly expanding based on the vision and objective of the company.
Our sustainability and expansion strategy at Sheldon Event Center is drafted in such a way as to ensure that we continue in the business for a long time to come.
Firstly, we intend to ensure that we hire only competent and professional staffs that fully understand our core values as a company as well as the industry. Also, our staffs have the required expertise to ensure that our business is taken to the level it should be. To keep our employees happy and productive, we intend to ensure that we provide a conducive working environment, have great welfare packages for them and also ensure that they undergo training every now and then that will not only enhance their skills but make them more productive for the company.Nov 17, · Global Event Planning Sample Business Plan The GlobeSpan sample business plans outlines how it will capitalize on its experience in the hospitality industry.
Executive summary (excerpt)5/5(1). An event planning business plan is a document that outlines the major aspects of your business. It articulates what the business is, its objective, how it operates, the . Personal Event Planning Business Plan. Occasions, The Event Planning Specialists.
Executive Summary. Welcome to the future of event planning! Occasions, The Event Planning Specialists. Occasions personal event planning business plan executive summary. Occasions is a start-up business specializing in event planning, making its expertise and its products available to help its customers plan their own events/5(85).
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