Making memorable events a Possibility for all!

5/8/2013

Business Plan

Contents
Executive summary ....................................................................................................................................... 4 BUSINESS DESCRIPTION ......................................................................................................................... 5 Overview of Industry ................................................................................................................................ 5 Mission Statement..................................................................................................................................... 5 Business Description................................................................................................................................. 5 Type of business: .......................................................................................................................... 5 Name: ............................................................................................................................................ 5 Logo: ............................................................................................................................................. 6 Product Description: ..................................................................................................................... 6 Position: ........................................................................................................................................ 6 Pricing Strategy:............................................................................................................................ 6

Market and Industry Analysis ....................................................................................................................... 7 Customer profile: ...................................................................................................................................... 7 Market size/trends: .................................................................................................................................... 7 Target market and demographics: ............................................................................................................. 7 Market segment:........................................................................................................................................ 7 Marketing strategy: ................................................................................................................................... 8 Customer needs: ........................................................................................................................................ 8 Competition: ............................................................................................................................................. 8 Management.................................................................................................................................................. 9 Management team description: ................................................................................................................. 9 Financials ...................................................................................................................................................... 9 Balance sheet: ........................................................................................................................................... 9 Income Statement: .................................................................................................................................. 10 Appendix:.................................................................................................................................................... 11

EXECUTIVE SUMMARY
Eventage is an event management business which will cater to the needs of two types of customers: corporate customers and the general public. It will be providing management services for social events, such as weddings and parties, as well as corporate events like business meetings, conferences or product launches. Since an event is of extreme importance to those hosting it, everything from decoration to catering should be of high quality and Eventage is here to take control of just that. To save customers from the hassle of visiting offices to get their event arranged by a professional event planner, we will provide our customers the chance to let us know how they want their event to be organized without having to leave their homes. Until now no event management business is carrying itself in a way where customers are only a click away from arranging a successful event according to their preferences. This will give Eventage a competitive edge in the market which will help to boost sales and profits.

BUSINESS DESCRIPTION
Overview of Industry
The events industry is a vibrant, lively and flourishing sector in which to work and study with excellent and pleasing career opportunities. Due to the growth of the sector, events management is now a specialist field of study. It features the delivery of many kinds of events, of varying size and complexity, and draws on the skills and personalities of a wide range of people, offering variety of stimulating and rewarding careers. All events have to be planned, organized and managed. They can range from small, modified private functions such as weddings to large-scale exhibitions, festivals, sports tournaments, concerts and world events such as the Olympic Games. Hosting large-scale, high-profile events is a strategy often pursued by many international destinations to stimulate urban and social regeneration. Many of these larger events have a truly international dimension with international delegates, logistics, marketing and multiple locations. The return on investment that organizations demand for hosting events is a key consideration for modernday event managers, together with the increasing role of technology, and issues such as sustainability and professional ethics within the industry.

Mission Statement
To meet customers need as efficiently as possible we make their events memorable and worth cherishing. Eventage is live, making memorable events a possibility for all!

Business Description
The description of our business includes vast explanations on the type of business, its name, logo, location, product description, position and pricing strategies.

Type of business:

Eventage is an event planning company that provides complete planning, consulting and supervision for both corporate and social events. Eventage provides its clients with spectacular events through creativity and uniqueness based on individual tastes and preferences. The biggest advantage to our clients is that we operate online. All that a customer needs to do is open our website and place an order and everything would be done on our behalf. Our website would also allow them to customize their events. After they order it there, theyll leave their stress to us and enjoy their Events that would remain spell-binding.

Name:

The name of our business Eventage provides its customers with an event full of advantages. Its name itself reveals the fact that the customers have the advantage of not having to leave their homes and can plan the entire event while sitting on their comfortable couches in the most economical way possible.

Logo:

Product Description:

From flowers to banquets, from lights to accessories, we provide all by which your event seems complete. We Eventage organize every kind of event, the corporate and the social ones. The corporate events include Fundraisers, charity events, school events, business meetings and conventions. The social events include mainly weddings, birthday parties, re-unions and other celebrations. Whether the event is corporate or social, Eventage incorporates themes, design layouts, event formats and dcor with the ultimate goal of making customers event a most elegant and unique experience.

Position:

Eventage positions itself as an emerging team specialized in managing and consulting social and corporate events. We will be targeting the mass market as our services are available to both corporate market as well as the general public. Our competitive edge is based on our availability 24/7 in the form of our website which allows instant order placement and confirmation through an email and a follow-up call. What sets us apart from our competitors is that we provide our customers with the ease of placing their order online without having to leave their homes and visit different offices.

Pricing Strategy:

We have exclusive packages for our customers for which there are fixed prices whereas on the events customized by the customers themselves, the pricing scheme will be based on a per project estimate tailored to each customer. As we are targeting all classes so our prices are eventually in accordance but are lesser than our competitors which make us different and attractive for our customers..

MARKET AND INDUSTRY ANALYSIS

Customer profile:
A customer profile is the outline of the type of customer who is interested in consuming our products and services. Maintaining customer profile will help a business to target advertising and marketing and focus on potential customers as it is an important analysis tool. Focusing on potential customers will save our time and money. For developing customer profile for Eventage there is no specific age group to target, but initially we will be targeting specifically the middle and high class people of Lahore who actually want to spend money to make their event a Mega Event. Our team will evaluate our customers lifestyle, thinking, requirements, cultural values, geographical location, status, demographics and occupation to understand what kind of arrangement they want. This analysis will help us to develop a customer profile of our potential customers which will further help us to market and advertise our business effectively to them via e-mails, newsletters, promotions, deals and discounts.

Market size/trends:
Managing events is not a small market as many small and big businesses are being running at present and most of them are conducting this in the same traditional ways. So, there is a good scope in entering into market by having innovative ideas and deals in planning the event. This will make Eventage prominent in the business market. Until now, no event arrangement business is carrying itself in a way where customer is just a click away in arranging a successful event according to his own desire and taste. Eventage is well aware of the modern, stylish, appealing, beautiful and attractive trends of today. It knows how to decorate a stage with flower arrangement, what sort of background music be played at what time, where dim lights and where bright lights to be used, how to plan seating arrangement, and how to serve food so that everyone can get that without a mess.

Target market and demographics:

Eventage will be targeting initially Lahore only. Our target market will comprise of people who want to spend money to conduct a fabulous event. Our target will be those who do not want to take stress for the arrangement of event personally. Instead they want to hire someone who will do this job for them in an organized way and make their event memorable. This will help us to advertise and market our business to our target audience accordingly.

Market segment:
As our business targets all classes who want to have an organized, successful and memorable event, we will be doing segmentation according to the class of people and their required needs. Corporate events will be advertised to corporate world and in areas where business activities are condensed like Gulberg where most businesses have their offices. Similarly, for social events we will make strategy to advertise Eventage in social gathering. Eventage will start its marketing with a promotional exhibition in which prominent figures from corporate world as well as social world will be invited and Eventage will be launched as a brand of trust

and style. We will be advertising in magazines as well to make Eventage famous. Hence we will divide our marketing into middle and high level audience and allow them to place an order online to make our name unique.

Marketing strategy:
Eventages marketing mix is comprised of the following 4Ps: Product: Eventage provides planning, consulting and supervision for both social and corporate events. Pricing: The pricing scheme will be based on a per project estimate tailored to each customer. If customers opt choosing from our packages, then there will be a fixed price for each package. Promotion: Several forms of promotion will be used including a website, official page on Facebook, e-mail marketing, and an ad. Place/Distribution: Eventage will be providing its services throughout Lahore. Customers will be able to get their event planned through the website where they will place an order.

Customer needs:
As Eventage is providing every sort of social and corporate event arrangements, we will try hard to meet the needs of our customers. In weddings sitting and food arrangement is usually the major concern of the customers. Customers want that their function should look modern, stylish and presentable along with easiness in approaching to food, stage and other invited people for interaction. The arrangement should not present a congested look that may cause a mess. Likewise, birthday party should be arranged by adopting a theme that is more attracting and favorite for the child so that the party arrangement itself looks like a gift for him/her from his parents. When talking about the corporate events meetings, conferences, convocations and other educational functions the requirements are of equal importance. Lighting and seating should be in a way that everyone feels comfortable and interactive in attending meetings and conferences. Food menu and arrangement along with the table dcor having plates, spoons, forks, water bottles and glasses must be presented in formal way. Eventage as having good knowledge about the essential needs of the event can fulfill them.

Competition:
Top Events, Tulip Events, Azeem Caters,Al Waseem and Celebrations are our major competitors. The difference between them and us is that they do not carry their business activities online. Their websites are information based websites where they provide information about the type of events they manage. They also have shared the experiences of the projects they have conducted with the collaboration of other businesses, halls and hotels. Whereas Eventage is unique in a sense that it a carrying its business online, facilitating its customers to interact more efficiently. One can easily select the provided deals or packages or simply design his/her own event according to his/her own taste. This will provide a free hand to customers to customize their arrangements and parties as they will. Facility of providing estimation of prices instantly on site is more facilitating in decision making for events. Online order placement make Eventage stand separate and a step ahead from the rest of companies carrying event management business.

MANAGEMENT
Eventage is a Pakistani corporation which was founded in 2013 by 5 friends.

Management team description:

Eventage comprises of 5 stake holders, all business partners and holding equal shares. Mr. XXX is the CEO of the business. He is responsible for decision making, managing and executing. His role of communicating involves the press and the rest of the outside world, as well as the organization's and employees management. His decision-making role involves high-level decisions about policy and strategy. As a leader of the company, he advises the board of directors, motivates the employees, and drives change within the organization. Mr. XXX is the Marketing Director of the business. She is responsible for directing and managing the companys marketing goals as well as carrying out the effective marketing plan which will help the companys sales and profit. Mr.XXX is the Chief Human Resource Officer of the business who oversees all human resource management and industrial relations operations for the organization along with the succession planning of the business. She helps in drawing up plans for future personnel needs and operates benefits policies. Mr. XXX is the Financial Director of the business. He looks after the overall management of the financial operations, and is mainly involved in planning, organizing and controlling the financial resources of the company. Mr. XXX is the Chief Operational Officer of the business and is responsible for the daily operations of the company. He also carries the title of President which makes him clear second in command at the firm.

FINANCIALS
Balance sheet:

Income Statement:

APPENDIX:
The survey conducted to find out customers needs:

SURVEY
EVENT MANAGEMENT
PURPOSE: To know the trends followed and the views of public

SCALE:
STRONGLY AGREE

A
AGREE

B
DISAGREE

C
STRONGLY DISAGREE

Can this idea (online event management) be considered innovative? A B C D

Is it beneficial in terms of revenue generated? A B C D

Is this kind of a business bound to have more competitors? A B C D

Did you or anyone in your family ever feel the need to have someone who could arrange everything for you (i.e. food, lighting, photography and music)?

Do you prefer open air events? A B C D

Is food the major area of concern for you in events? A B C D

Did you ever want the functions in your school/college to be arranged in a better way? A B C D

Are present event management businesses arranging events according to your desires and needs? A B C D