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1.0 Executive Summary
The purpose of this business plan is to raise $500,000 for the development of a banquet hall while
showcasing the expected financials and operations over the next three years. The Banquet Hall, Inc.
(“the Company”) is a New York based corporation that will provide banquet hall rental and catering
services to customers in its targeted market. The Company was founded by John Doe.
1.1 Products and Services
Management intends to acquire and develop a wedding and events venue that will act as a
standalone site for major parties. The business will only host one event per day, which will allow
clients privacy while they celebrate their wedding or event. The venue will feature a beautiful banquet
hall that will be developed from a converted home. The grounds will feature immaculate grounds
keeping and landscaping. Management anticipates that it will rent the location for approximately
$3,000 per event. The third section of the business plan will further describe the services offered by
the Banquet Hall.
1.2 The Financing
Mr. Doe is seeking to raise $500,000 from as a bank loan. The interest rate and loan agreement are
to be further discussed during negotiation. This business plan assumes that the business will receive
a 10 year loan with a 9% fixed interest rate. The financing will be used for the following: •
Development of the Company’s Banquet Hall location. • Financing for the first six months of operation.
• Capital to purchase FF&E. Mr. Doe will contribute $100,000 to the venture.
1.3 Mission Statement
Management is committed to providing the highest quality venue for wedding and events planning
within the New York area.
1.4 Mangement Team
The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the
events planning and management industry. Through his expertise, he will be able to bring the
operations of the business to profitability within its first year of operations.
1.5 Sales Forecasts
Mr. Doe expects a strong rate of growth at the start of operations. Below are the expected financials
over the next three years.
1.6 Expansion Plan
In the future, Management will begin to develop ancillary and complimentary services such as bar,
catering, and complete events planning services that will provide clients with a complete wedding or
event hosting package. Once operations commence, the business will begin to apply for an onsite
alcohol license that will allow the business to offer beer, wine, and liquor on the venue’s premises.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Banquet Hall, Inc. The Company is registered as a corporation in the State of New York.
2.2 Required Funds
At this time, the Banquet Hall requires $500,000 of debt funds. Below is a breakdown of how these
funds will be used:
2.3 Investor Equity
Mr. Doe is not seeking an investment from a third party at this time.
2.4 Management Equity
John Doe owns 100% of the Banquet Hall, Inc.
2.5 Exit Strategy
If the business is very successful, Mr. Doe may seek to sell the business to a third party for a
significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the
business on behalf of the Banquet Hall. Based on historical numbers, the business could fetch a sales
premium of up to 4 times earnings.
3.0 Products and Services
Below is a description of the services offered by the Banquet Hall.
3.1 Venue Hosting
The business will only host one event per day so that each of the clients has exclusive access to the
facility and its premises. The Banquet Hall will also feature separate rooms for the bride and grooms
in the event that the wedding is held on the Company’s premises. The facility will feature an
immaculate garden and landscaping.
3.2 Event Planning
The Company, in addition to acting as the hosting venue, will help wedding couples, businesses, and
other people hosting events, the ability to have Banquet Hall, Inc. arrange for all of the catering,
entertainment, and alcohol services that will be hosted on site. The business will also partner with
events and wedding planners that operate within the New York area.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the banquet hall industry, the customer
profile, and the competition that the business will face as it progresses through its business
operations. Currently, the economic market condition in the United States is moderate. The meltdown
of the sub prime mortgage market coupled with increasing gas prices has led many people to believe
that the US is on the cusp of a double dip economic recession. This slowdown in the economy has
also greatly impacted real estate sales, which has halted to historical lows. This may impact the
Banquet Hall’s revenues as people will host less luxurious or fewer events.
4.2 Industry Analysis
The leasing of banquet halls in the United States is an extremely large business. The US Economic
Census indicates that there are approximately 5,000 companies that specialize in the rental of
banquet halls and event locations. Each year, these businesses aggregately generate more than $5
billion dollars a year of revenue and provide jobs for more than 40,000 people. The growth of this
industry has remained in lockstep with the growth of the economy in general. The number of facilities
operating within this industry has increased 15% over last five years while gross receipts have
increased almost two fold.
4.3 Customer Profile
Banquet Hall anticipates that its average client will be a couple seeking to get married or a local
business (or corporation) seeking to host a large scale event. Management has outlined several
demographics among its target client market, including: • Has an annual household income of
$50,000 or more. • Is seeking to spend approximately $20,000 on their wedding or event • Wants
privacy within a venue (i.e. one event hosted per day) • Needs an event or wedding planner
4.4 Competitive Analysis
This is one of the sections of the business plan that you must write completely on your own. The key
to writing a strong competitive analysis is that you do your research on the local competition. Find out
who your competitors are by searching online directories and searching in your local Yellow Pages. If
there are a number of competitors in the same industry (meaning that it is not feasible to describe
each one) then showcase the number of businesses that compete with you, and why your business
will provide customers with service/products that are of better quality or less expensive than your
competition.
5.0 Marketing Plan
The Banquet Hall intends to maintain an extensive marketing campaign that will ensure maximum
visibility for the business in its targeted market. Below is an overview of the marketing strategies and
objectives of the Banquet Hall.
5.1 Marketing Objectives
• Develop relationships with local businesses for their event planning and corporate event
needs.
• Establish connections with local event and wedding planners.
• Develop an online presence by developing a website and placing the Company’s name and
contact information with online directories.
5.2 Marketing Strategies
Banquet Hall, Inc. will promote the business through a number of traditional marketing and advertising
channels. The foremost marketing strategy that the business will use, will be to develop connections
with local event and wedding planners so that the business can continually book events through these
planners. This will greatly decrease the amount of advertising required by the business as once a
rapport is established with these vendors, they will continually refer business to the Company.
Banquet Hall will also maintain a strong level of print and media advertising among local newspapers,
event planning publications, and other news medium. The business will also maintain listings in the
local Yellow Books. The facility will also maintain a website that has a virtual tour of the facility in
addition to standard contact information and booking resources.
5.3 Pricing
In this section, describe the pricing of your services and products. You should provide as much
information as possible about your pricing as possible in this section. However, if you have hundreds
of items, condense your product list categorically. This section of the business plan should not span
more than 1 page.
6.0 Organizational Plan and Personnel Summary
6.1 Corporate Organization
6.2 Organizational Budget
6.3 Management Biographies
In this section of the business plan, you should write a two to four paragraph biography about your
work experience, your education, and your skill set. For each owner or key employee, you should
provide a brief biography in this section.
7.0 Financial Plan
7.1 Underlying Assumptions
• The Banquet Hall will have an annual revenue growth rate of 16% per year
• The Owner will acquire $500,000 of debt funds to develop the business.
• The loan will have a 10 year term with a 9% interest rate.
7.2 Sensitivity Analysis
In the event of an economic downturn, the business may have a decline in its revenues. Banquet Hall
is offering a reasonably priced venue for wedding and banquet events. However, in the event of a
steep economic decline, Management expects that its revenue will decrease as people host events at
alternative, less expensive venues. In the event of a decline in revenues, the business will be able to
maintain profitability (after debt service is paid) because the business generates significantly high
gross margins from the rental of its facility.
7.3 Source of Funds
7.4 General Assumptions
7.5 Profit and Loss Statements
7.6 Cash Flow Analysis
7.7 Balance Sheet
7.8 General Assumptions
7.9 Business Ratios
Expanded Profit and Loss Statements
Expanded Cash Flow Analysis