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Entrepreneurship & Innovation Assignment

MBAG-205

Abhinandan.com
The best stop for your best memories

Tata Sai Kripa Prateek


16479
This is an initiative that aims to execute the best memories of a persons life, the events of
celebration. The start-up aims to bridge the gap between the customer and the service
provider as it provides a portal for interaction between the two.
The vision of the start-up is as follows:
Bringing you closer to your dreams, aiding the light-hearted spirit and bridging the gap in
your necessity through our commitment.
The gap lies in the area of:
Lack of information about whats available and when and for how long.
Inadequate information about the pricing of the various facilities.
There is no legitimate communication channel for the customers to know and
interact with the service provider.
As a result, the firm aims to provide a solution under the same roof wherein the customers
shall be able to select from the available facilities and also shall be able to see the process
and the dates during which the facility is booked. The start-up initially aims to be launched
at a Pan-India level targeting almost all the service providers.
The goals of the firm are as follows:
To provide a user friendly website that would enable the customer to select one of
many things available or many from a single package.
To reduce the effort by the customers by providing every detail with correct pricing.
The market gap analysis is as follows:
Customer pains: Unavailability of information, pricing, feasibility, dominance, no
customization.
Customer jobs: Searching, facilities, negotiations, quality, guaranteed satisfaction.
Customer gains: Time, energy, money, quality, information, best of everything
available.
The value proposition is as follows:
Product/service: Online platform, one solution for all the gala.
Pain Relievers: Search time, Pricing details and negotiations, Customization.
Gain Creator: Financial, Geographic, Additional services.
The contribution from the author of this document is at the stage of Revenue Model
generation. The revenue shall flow in from the commissions that shall be derived from the
contracts signed with the service providers. The firm for simplicity has presently considered
only social events where it has assigned probabilities of the contributions coming from
various events.

Events P(Events)
marriage 0.35
birthdays 0.3
college 0.35
events

The revenue generation from the individual events happens on a probability basis to begin
with. As and when the firm gains its experience, it shall be able to assess its revenue streams
better. Each event shall be broken into different parts based on the service providers
availed. Then each service providers contribution shall be broken down based on the per
unit of service availed vis--vis the number of people expected. In this table the probabilities
shall be assigned at the initial stages to each possibility of occurrence and then multiplied to
find the expected value of the revenue to be generated.

Source: Wedding
Catering Costs
Cost/plate 250 500 750 1000 No. of People
250 0.025 0.03 0.03 0.03
500 0.01 0.08 0.04 0.03
750 0.02 0.09 0.06 0.03
1000 0.04 0.1 0.04 0.02
1250 0.05 0.06 0.03 0.02
1500 0.05 0.02 0.03 0.01
2000 0.015 0.01 0.02 0.01
0.21 0.39 0.25 0.15
1562.5 3750 5625 7500
1250 20000 15000 15000
3750 33750 33750 22500
10000 50000 30000 20000
15625 37500 28125 25000
18750 15000 33750 15000
7500 10000 30000 20000
58437.5 170000 176250 125000 529687.5

Source: Birthday Celebrations


Catering Costs
Cost 50 100 150 200 People
100 0.05 0.07 0.04 0.05
250 0.2 0.08 0.09 0.03
500 0.1 0.1 0.04 0.01
650 0.05 0.05 0.03 0.01

0.4 0.3 0.2 0.1

0.4 0.3 0.2 0.1 1

250 700 600 1000


2500 2000 3375 1500
2500 5000 3000 1000
1625 3250 2925 1300
6875 10950 9900 4800 32525

Source: College Events


Catering Costs
Cost 250 500 750 1000 People
200 0.025 0.03 0.03 0.03
300 0.01 0.08 0.04 0.03
500 0.02 0.09 0.06 0.03
700 0.04 0.1 0.04 0.02
0.05 0.06 0.03 0.02
0.05 0.02 0.03 0.01
7 0.015 0.01 0.02 0.01
0.21 0.39 0.25 0.15 1

1250 3000 4500 6000


750 12000 9000 9000
2500 22500 22500 15000
7000 35000 21000 14000
11500 72500 57000 44000 185000

In this way the exercise shall be repeated for all the sources of activity. This shall be the
source of expected revenue for the service provider. Then, based on the number of vendors
in each location, the commissions shall be multiplied to each of the revenue of the vendor
to estimate the revenue for the firm.

Particulars Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7


Incomes:
Commission:
Function Halls 6,25,000 7,50,000 9,15,000 11,43,750 14,52,563 18,44,754 23,42,838
Catering 64,975 77,969 95,123 1,18,903 1,51,007 1,91,779 2,43,560
Decorators 2,25,000 2,70,000 3,29,400 4,11,750 5,22,923 6,64,112 8,43,422
Entertainment 1,25,000 1,50,000 1,83,000 2,28,750 2,90,513 3,68,951 4,68,568
Hotels 3,75,000 4,50,000 5,49,000 6,86,250 8,71,538 11,06,853 14,05,703
Advertisement 8,75,000 9,01,250 9,28,288 9,56,136 9,84,820 10,14,365 10,44,796
Total Revenue 22,89,975 25,99,219 29,99,810 35,45,539 42,73,362 51,90,813 63,48,886
The next source of revenue is the advertisement revenue generated by the firm. This shall
be sourced from the clicks of the customers per annum to calculate the revenue generated
from that source. Thus, these are the revenues that shall be generated by the firm.
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