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REDHOTT
GROUP MEMBERS AGHA GUL ZAMAN NADEEM JAVED QURESHI SABIH ARSAL NAQVI SHAHID BASHIR KHAN RASHID MUREED
Executive Summary Company Information Vision Statement & Goals Company Summary Marketing plan Services Market Assessment Strategic Implementation Swot Analysis Operational plan Organizational plan Financial Plan
Executive Summary
Vision/Mission Statement Company Summary Services Market Assessment Strategic Implementation Expected Outcomes
To ensure that all of your expectations are exceeded and your event is a success We are top of the line event management company known for originality, creativity, selection and distinction. We will go where no other event company has gone before
PR catalyst, we provide our clients with spokespersons, marketing strategies, casting for TV commercials, and coordination of promotional events, product launches, and contract negotiation.
With the new service; addition the sales are expected to rise by 20% for the year 2011 and increase in cliental
Company Information
Company Name REDHOTT
Address
Telephone Facsimile Website Email Management Marketing Manager
Zamzama, Karachi
Ph. # 35779900-5 35778805 www.redhott.com.pk redhott@mail.com.pk
Sales Manager
Product Manager HR Manager Finance Manager
RedHott is determined to provide customers with more than their expectations. We value our employees and believe in team work.
Consistent, accurate fulfillment of the client's wishes Competitive pricing for the quality of services offered
Vision Statement
Keys to Success
Company Background Resources, Facilities and Equipment Marketing Methods Management and Organization Social Responsibility SWOT Analysis
Founded in June 2011 on a full-time basis, RedHott is a small business designed to meet the needs of the ever changing social activities of Karachi Our major resource is the team of talented people working for us. Our office is at the best business location in Karachi at Zamzama. We use state of the art equipment for all our events. We focus immensely on all our ATL and BTL activities We believe in launching new products to cater the increasing challenges of the event management industry Under a democratic management style, we are a group of 6 talented individual s striving to achieve company goals
We believe in telling the truth and working ethically Public relations and customer retention is important to us
Strength: pioneered PR catalyst services, continues service innovations, follow-up and value added services. Weakness: Less business experience Opportunity: increase cliental at RedHott Threat: Rise in competition
Services
Personal Events Corporate Events Special Occasions PR catalyst
Birthday Parties
Seminars
Basant
Mehndi
Conferences
Religious Events
Wedding/Valima
Ceremonies Reunion Parties Anniversaries Hajj reception
Foreign Delegates
Workshops/Training Program Company Picnics Award Ceremony Company reunion
Iftar Parties
Press Conferences
Exhibitions Business Lunches
Target Market / customer profiles. Our target markets are middle to upper-middle class families, couples, individuals, or private and public organizations. They are most able to afford event planners, and have the least amount of time to spare for event planning in general. Families demand attention, employees are overburdened, and overwhelming detail needed to plan large events are too large a constraint to place on people not trained in the area of event planning. Not entertaining orders less than Rs. 1.5 lac. The fast pace of the world we live in leaves little time for extra things. We would plan events, parties, and social get-togethers. RedHott fills the need by being available to take on the burden of planning so that people can spend time on more important things, like family and friends. Increasing demand considering the rise in incomes, population, and need for interpersonal relations in the workplace.
Chan Chao International Co Ltd Conference and Exhibition Management Services Pte Ltd E- Commerce Gateway Pakistan Pvt Ltd Ecommerce Gateway Pvt Ltd Fixon Exhibition Services International Educational Services Pegasus Consultancy Pvt Ltd ZAPSnet
Product Anyone who feels that there must be a better way of selecting design than the chairmans own personal taste should be interested in RedHott as an objective benchmark RedHott is determined to provide quality services to its clients. Our total focus is at the activities of corporate sector. We aim to provide services to our prestigious clients in the form of conducting the following: Exhibitions Conferences Seminars Product Launches Public Relations Brand Promotional Activities Fashion Shows Annual Dinner Designing is art, communication, technique. RedHotts designing of all sorts:
RedHott is proud to claim that it has a capability of modifying its offers and packages according to its valuable clients. Our packages vary according to different events. RedHott is planning to organize a magnificent event of Karachi Life sponsored by World Memon Federation at expo centre in June 2006. The packages that will be offered to our clients are discussed in detail in the Price section.
Package 1 Rs.175000 One 3m*3m stall A 20cm*3 col. Advertisement in DAWN. A 20cm*3col. Advertisement in JUNG. Stall description: Octonorm inclusive of 1 counter, 2 chairs along with 3 spotlights Package 2 Rs.255000 One 4m*4m stall A 30 cm*4col. advertisement in DAWN. A 30 cm*4col. advertisement in JUNG Stall description: Octonorm inclusive of 1 counter, 2 chairs along with 4 spot lights. Package 3 Rs.455000 One 216/224 sq ft. empty marked space A quarter page advertisement in DAWN A quarter page advertisement in JUNG 20 tickets free of cost. Stall description: Bare space with area marked. Package 4 Rs.655000 One 312/324 sq ft. empty marked space A quarter page advertisement in DAWN A quarter page advertisement in JUNG 40 tickets free of cost Stall description: Bare space with area marked.
Market Assessment
At RedHott, the edge of our services lies in our regular market research. Studying the customer requirements, identifying new way to cater market. And studying competition are the areas where we conduct regular market surveys and then base our new service launches on the research. Customer analysis at RedHott is done by identifying unique customer requirements and catering to them effectively. We value every client account and provide value addition to each.
Customer Analysis
RedHott is in a unique position of competition. We compete against hotels with conference facilities, conference centers. The industry is full of competition, rising competitive businesses is a potentional threat to RedHott. But with our policy of competitive pricing for each cliental, we can effectively cope with industry competitiveness.
Two major challenges faced by RedHott are rising competition. So one of our major strategic movie is continuous innovation in our services by either adding value to the service or launching an entirely new way of catering events. We also aim to provide competitive pricing to attract new cliental. The second major issue at RedHott is it being a new entrant in the event management industry and we aim to address this issue by having more industry experienced people as our assets and focus on quality with value addition for each of our service.
Industry Analysis
Strategic Alternatives
Strategic Implementation
RedHott is a service oriented business. Each of our service is based on catering customer needs by exceeding their expectations. Each product launch is done on customer demand basis. Our resource need s of equipment and man power is efficiently handled by our employees and our partners for providing equipment. We have various partners for helping us outsource certain resources we need for managing the events efficiently
Production
Resource Needs
Sourcing/Procurement Strategy
We use various ATL and BTL tools. Majorly we focus on billboard advertisement and giving ads in fashion magazines. Also working in alliances with marriage halls. So that they can recommend our agency to their clients for a stylish management of their events. Marketing Strategy
Our performance standards are to give our 100% to our work. Our key agents to success are leadership and teamwork that lead to our success. For our customers, we try to achieve our service promises and exceed customer expectations. Performance Standards
and
Strengths: Vegenza main strength is its highly committed and professional personnel. Our agency is located at on the most commercial areas of Karachi i.e. main Zamzama Commercial Street. This would give us the competitive edge over the agencies that are located in residential or improper locations. We are the one of the few event management companies who also provides their clients the best research facilities as well. We got one of the most prestigious vents on hand right now. This is a big achievement for newly established company like Vegenza. We provide a variety of packages to our customers at very competitive rates as compared to other competitive companies of our scale. We arrange one event at a time. This way we are able to give more attention to the event and the clients needs. This way as compared to our competitors error rate is low. Weaknesses: We still have a limited number of personnel. We need to diversify to other sectors as well to increase our horizon and exposure. We only have one branch right now and we are operating only in Karachi. Whereas Lahore is one of the biggest attractions for all kinds of events after Karachi. We need to expand
Karachi is one of the biggest business center of Pakistan. Plus if we look at the scenario in Pakistan then corporate sector is continuously expanding and so are their promotional activities. Which in turn means more work for the event planners. Media awareness and increasing competition has now encouraged the local organizations to also indulge in activities like press and media conferences, product launch ceremonies, lucky draw timings etc. There are few names of event planners that are recognized both at the local and the international level g Pegasus, PMC and ECG. So there is an opportunity for us to make a place in the market. Many of the small event management companies are either not recognized due to improper promotional activities or because they are not registered and are working informally with untrained and non professional staff. So if we provide professional service to our clients then we can make a place in the markets. Due to political stability in Pakistan FDI has increased in Pakistan. As a result more foreign companies are taking interest in puritan and after the building of EXPO center a lot of events are now been conducted at the corporate level for both local and foreign companies.
There are some already established names in the market such as ECG and Pegasus. Pegasus also specializes in corporate event planning as well. So from this viewpoint we are facing a reasonable threat from such agencies. Plus client rarely switch from one agency to another. As a result it is difficult to attract the clients of the competitors. There has been an increasing trend towards forming an event management companies. So a number of competitors are entering in to the market daily. Some of the organizations due to their nature of business and increasing need for managing different events; have now established a separate department for event management themselves, e.g. DAWN group of Pakistan. Other competitors are offering a wide variety of services and cover a number of both private and corporate events.
Layout One of the most critical points of a event management business is its location and layout of the office. RedHott is located in the middle of its main competitors. This is because we find it strategically favorable to locate in the competitive cluster. The layout of the office is divided into four partitions:
Reception & Waiting Area The reception desk is the first counter in the office and a few steps ahead are the waiting area where the clients will be seated. The waiting area has comfortable sitting for 8-10 people.
Discussion Room The clients will be taken from the waiting area to the discussion room by any member of the team. The discussion room has capacity for dealing with 3-4 clients at a time. Round tables and sofas are placed for providing a relaxed environment for discussion.
Multimedia Room The third partition of the office is the multimedia room. The multimedia room has all the necessary equipment i.e a multimedia projector with white screen on the wall and a fully loaded computer. There is a 10 seat conference table in the multimedia room. A plasma TV is also present in the room.
Partners Sitting The partners sitting is in the starting of the office. All the partners will be doing the table work at this place. The design of this room is the normal table chair office environment with computers of each partner.
ORGANIZATION CHART
Director HRM Marketing & Creative Department Director Operations of event Director Finance Department
Event Planner
Event Planner
Client Services
FW 1
Receptionist
FW 2
Guard
FW 3
FW 4
Introduction:
RedHott is a partnership based organization. It has five partners, who have equal contribution of capital in the business that is 200,000 PKR each. These partners will act as directors in the business and there are no sleeping partners. The directors are expected to do the following with respect to the area they are assigned and are concerned with: Reviewing operating and capital budget. developing long term strategic plans for expansion of business supporting day to day activities resolving conflicts amount owners ensuring proper use of asset Developing network of information source.
Form Of ownership: RedHott is a partnership based firm, consisting of five partners. These partners include AGHA GUL ZAMAN, NADEEM JAVED QURESHI, Sabih Arsal ,RAHSID MUREED, SHAHID BASHIR. All the partners have equal contributions in the equity capital of the firm. Also, they have contributed in the bank security which is kept in the form of saving certificates. The liability of partners is limited to their share in equity and bank security in case the firm defaults. The partners will be acting as the directors of the company and they will have equal share in profit obtained in the events. No additional salaries will be paid to them. There are no sleeping partners in the firm. All the contributors are active/working partners in the business.
Financial Projections
With the launch of our new product PR Catalyst the sales and customer profile is expected to rise. A 20% increase in sales is expected for the year 2011
Contingency Plan
We always launch new services or innovate always after a lot of pre-research. To protect our interest in any service launch. We always book orders in advance but doing word-of-mouth for the services. And then launch them on a larger scale.
RESOURCES REQUIRED
NATURE OF BUSINESS:
Red Hot is a small business designed to meet the needs of the ever changing social activities of Karachi. We plan to expand our branches in Karachi in the near future.
INANCING The financing will be in the form of a Musharika contract with an Islamic bank for a period of 3 years. The proceeds will be used for the furnishing and office equipment as well as for the operational needs of the business.
RESOURCES REQUIRED
OFFICE EQUIPMENT & PERSONNEL:
Initially our business will have only basic equipments which are necessary for our survival. But as our business grows we will purchase the luxurious equipments. Currently we have: Multimedia projector Overhead projector Computers Printer Scanner Fax machine Split Air conditioner
INCOME STATEMENT
Revenue Sales Cost of Services: Promotion Logistic Venue 21,936,000 16,452,000 10,968,000 24,527,160 36,790,740 12,263,580 36,290,290 54,435,434 18,145,145 (a) Year 1 109,680,000 Year 2 122,635,800 Year 3 181,451,448
General Expense
Total COS Gross Profit
5,484,000
54,840,000 54,840,000
6,131,790
61,317,900 61,317,900
9,072,572
90,725,724 90,725,724
INCOME STATEMENT
Marketing and Administrative Expense Year 1 Year 2 Year 3
Marketing Expense
Administrative Expense Salary Utilities Rent (b) (c) (d)
200,000
300,000
450,000
Depreciation-Machinery and Equipment Depreciation-Furniture and Fixture Total Administrative Expense Total Marketing and Administrative Expense Net Profit
BALANCE SHEET
Assets Year 1 Year 2 Year 3
Fixed Assets Machinery and Equipments Accumulated Depreciation Net Machinery & Equipments Furniture and Fixtures Accumulated Depreciation Net Furniture and Fixtures
(e)
(f)
BALANCE SHEET
Assets Liabilities and Owners Equity Current Liabilities Year 1 Year 2 Year 3
Total Liabilities
Owner's Equity Nadeem Rashid Sabih Arsal Shahid Agha Retained Earning
(g)
533,334
266,667
-550,000
-550,000
-26,574,910
26,692,604
-29,830,910
29,831,167
-44,459,822
44,460,079
Commitment With Meezan bank Defense Saving Certificate Some portion of the profit will be retained in the business for the future needs, expansions and contingencies.
THE END
Qs & As