Business Plan

Submitted To:
Sir Rashid Waseem
Submitted By:
Fatima Aamir
Roll No:
BSF-1804333
Subject:
Entrepreneurship
Session:
BBA: 7th (B) (Morning)

University of Education, Lahore

(Multan Campus)

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 Executive Summary
Glitz and Glamour Events, The Event Planning Specialists, brings to the community of Multan a
new breath of air in the event planning market. By combining old fashioned values, going the
extra mile, and using cutting edge event-planning software, Glitz and Glamour Events will lead
the market, providing the same quality results, every time. Friends Event Management is an
equal opportunity business making its expertise and its products available to help its customers
plan their own events.
Party Packs (complete kits for their event), make hosting a party a snap, right down to the
refreshments. The event planning software brings interactive event planning as close as their
personal computer. Through these and other affordable products and services, Glitz and Glamour
Events aims to be the number one resource for any event. IN this whole business plan we
describe our industry as well our aim to choosing this business. We also broadly determine our
service and facilities we provide to our client.
We charge our client at a very cost effective margin hence they will always getting satisfied with
our service.
We also provide our marketing plan, development plan and operation plan to this paperwork. We
try to determine our breakeven analysis hence we are proud to say that we can recover our initial
investment within the first year of operation.

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 Business Overview

Company Description:
In company description we provide our organization overall assessment in brief to aware our
reader what our organization is and what is its mission and legal formation and so on.
Glitz and Glamour Events is a start-up company that specializes in organizing and k events, from
small and intimate occasions to big and grand gatherings. The company provides services for
both corporate and personal events, personalizing its level of service for each event.
As we observing our business world, and event management business is trending all over the
world. This idea has come over our mind as we see lots of international and national event on TV
as well as on our personal appearance in different events which encourage us to choose this as
our business. Moreover in this industry is small enough currently where we have to face less
competitors. So assuming all this thing we think this is the business we can chooses our own
business and thus the idea of Glitz and Glamour Events turn into our business goal

Name of the Venture:

The name of our event management firm will be known as Glitz and Glamour Events. As we
start this business all friend together that’s why we choose this name for our venture.
We also choose a tagline and that is “ Events with Elegance”.
Venture Address: XYZ, Multan, Pakistan.
Tel: +92xxxxxx
Products and Services:
Below is Glitz and Glamour Events initial list of services:
• Organizing corporate events and meetings
• Organizing weddings and special occasions
• Provide logistics for big and small events
• Design events
• Professional photography and videography
• Provide professional catering services and professional host

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Although Glitz and Glamour Events is primarily a service business, we also offer products to
support our customers in planning the event themselves. The following products are tools used
inside our operation for the best possible results:

1. Party Pack
The Party Pack is a complete kit for any party. It includes decorations, lighting effects guide,
disposable theme cameras, cutlery, plates, napkins, cups, punch mix (or recipe),snack supplies
(or recipe), tablecloths, theme music (where applicable), invitations, thank-you cards, and a step-
by-step guide to planning, putting together, and hosting the event.

2. Step-by-Step Guides
These booklets include a calendar to map out the event, a step-by-step guide on what’s needed
for and how to put together a successful, worry-free event, resource information, popular
refreshments with recipes, games, and tips to put their event in the record books. The events
available include birthdays for all ages, meetings, retreats, parties, vacations, and special
occasion celebrations such as graduations, holidays, showers, weddings, and receptions.

3. Resources Manual
This valuable guide acts as a review for all the resources located in the surrounding area. A
ranking is given to the various services, such as caterers, decorators, disc jockeys, bands, and
facilities. This manual gives the client the freedom of making a choice based on experience.
Glitz and Glamour Events provides event planning in a wide range of applications. We guarantee
satisfaction in the areas of appearance, performance, and taste.
The following is sampling of the types of events we will plan every year:
1. Meetings, Trainings, and Retreats.
2. Conferences and Workshops.
3. Birthdays, Anniversaries, Graduations and Holidays.
4. Weddings, Receptions, and Showers.
5. Company picnics, banquets, and award ceremonies

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 Industry Analysis
Industry analysis is the important part of starting a new business. To start a new business we
must analyse its related industry. As we want to do business as an event management business
firm, we must analysis its industry, trends, participant and prospect of this business in Multan.

Industry Size:
The event management business in Multan is not yet fully settled. There are few recognized
event management organizations in the country. The three recognized solely event management
organizations are Evection Event Mangers, Imran Rajput Caterers, Royal Management. These

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firms are devoted exclusively to the show business events. But, the corporate market for event
management has mostly been unexplored. Although there is a demand for specialized event
management organizations, there is few such organizations that cater solely to this demand. The
advertising firms made the most of this circumstances, as they took up event management as a
very profitable side business.

Industry Structure:
Event management industry is new model of doing business in Multan. But most of the people
associates with this sector encourage people to adopt this business with having some experience.
In this industry people are encouraging to come especially youth have a very much passion over
this business industry. To start a business in this sector people face less competitor as it’s a
growing industry and barriers are also quite low. So people can easily enter this industry. By
analysing all of this we refer event management as a business we can do in Multan.

Nature of Participants:
Most of the participant in this sector are willing to provide service to corporate client and
corporate events rather individual events and individual client. Though most of them provide
services to both individual and corporate client. As we adopt this business, our aim into satisfy
both individual as well as corporate clients through our quality services.

Key Success Factors:

To achieve success in this business is proper management and handling pressure situation with
strong commitment. And most importantly satisfy your client through quality services. Our keys
to success include the commitment to quality by every person who is part of the team. Each of us
will be responsible to push ourselves to a higher level of professionalism in three areas:

• Consistent, accurate satisfaction of the client's wishes.

• Competitive pricing for the quality of services offered.
• Significant revenue made on each event planned.

Industry Trends:
Event management industry is a growing industry. Though event management industry started its
journey after liberation war and successfully operating in last two decades but it didn’t grow that
much like other industry did. But it has a huge scope in Multan and is one of the growing sector
in Multan and good business for youth as they are more willing toward this sectors.

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Long-Term Prospects:
Event management has a bright prospect in Pakistan. As Pakistan economy is growing more big
events will organize by corporate house and individual people are want and willing to make their
events more lucrative. So demand for this business services will increase anymore event
management company will join together to booming this industry. In many survey reports shows
that it will be one of the growing business in upcoming years. So we can assume bright future
and long run prospect of this business.

Market Analysis
The market analysis is distinctly different than the industry analysis. Whereas the industry
analysis focuses on the industry that a firm will participate in (i.e., toy industry, software
industry, men’s clothing industry), the market analysis breaks the industry into segments and
zeroes in on the specific segment (or target market) to which the firm will try to appeal. IN this
part we segment our market and select our target market. We also analysis our possible
competitors .
Customer Segmentation:
We will primarily target the following four customer segments:
• Young Couples: The majority of the city’s population consist of young working couples
who can be potential clients for weddings and engagement parties.
• New Parents: We can organize small and intimate baby showers and gender reveal events
for new parents.
• Families: The company can cater to birthday parties and any other events where families
get together and make memories.
• Businesses: Businesses often need assistance in organizing conferences, holiday parties,
and other events. We aim to be the company that businesses look to to help plan for
events and parties.

Target Market:
The proposed project of event management complex will cater to the needs of
middle and upper middle class families and individuals as well as corporate sector
including but not limited to:

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 Educational institutions
Private organizations
Public sector organization
Business firms

Buyer Behaviour:
Now question arise about buyer behaviour toward event management firm. Most of the non-
corporate client want to do their event by their own. But time has changed. People are now
willing to make their event better and lucrative. So they heading toward event management firm
to make their important event memorable and want to fill more relax during those event by
transferring responsibility.
Number of Event Management firms offer cost effective price for non-corporate events so as
ours. We need to capture this opportunity and provide them quality service which improve buyer
attraction more toward event management firm rather organize event by their own. On the other
hand as Pakistan economy growing more new local and foreign MNCs reinvesting in Pakistan
and organize their corporate event through professional event management firms. We also
capture their attention through professionalism.

Marketing Plan
The marketing plan focuses on how the business will market and sell its product or service. It
deals with the nuts and bolts of marketing in terms of price, promotion, distribution, and sales.
The best way to describe a company’s marketing plan is to start by articulating its marketing
strategy, positioning, and points of differentiation, and then talk about how these overall aspects
of the plan will be supported by price, promotional mix and sales process, and distribution
strategy.

Overall Marketing Strategy:

Glitz and Glamour Events will be aggressively courting companies as well as individual to win
future contracts.
Glitz and Glamour Events will offer a superior service at a lower cost due to specialization . By
concentrating specific services in specifically, we will become capable at these services and
perform the services better than other similar organization as passage of time.
We will increase company visibility through a website, local Chamber of Commerce networking,
and participation in fair, print and electronic media and mostly in different social site like twitter,
Facebook etc. The website will be quite detailed and provide a visitor in-depth information

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about the services we offers, the corresponding high level of quality, and the cost savings that
can be achieved by using Glitz and Glamour Events. Lastly, we will be active in the many trade
shows. The use of tradeshows allows potential client of ours to make initial contacts with us for a
wide range of businesses events that would otherwise be difficult to approach.

Product, Price, Promotions, and Distribution:

• Product & Service

Below is Glitz and Glamour Events initial list of services:
• Organizing corporate events and meetings
• Organizing weddings and special occasions
• Provide logistics for big and small events
• Design events
• Professional photography and videography
• Provide professional catering services and professional host

Although Friends Event Management is primarily a service business, we also offer products to
support our customers in planning the event themselves. The following products are tools used
inside our operation for the best possible results:

1. Party Pack
The Party Pack is a complete kit for any party. It includes decorations, lighting effects guide,
disposable theme cameras, cutlery, plates, napkins, cups, punch mix (or recipe),snack supplies
(or recipe), tablecloths, theme music (where applicable), invitations, thank-you cards, and a step-
by-step guide to planning, putting together, and hosting the event.

2. Step-by-Step Guides
These booklets include a calendar to map out the event, a step-by-step guide on what’s needed
for and how to put together a successful, worry-free event, resource information, popular
refreshments with recipes, games, and tips to put their event in the record books. The events
available include birthdays for all ages, meetings, retreats, parties, vacations, and special
occasion celebrations such as graduations, holidays, showers, weddings, and receptions.

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3. Resources Manual
This valuable guide acts as a review for all the resources located in the surrounding area. A
ranking is given to the various services, such as caterers, decorators, disc jockeys, bands, and
facilities. This manual gives the client the freedom of making a choice based on experience.
Glitz and Glamour Events provides event planning in a wide range of applications. We guarantee
satisfaction in the areas of appearance, performance, and taste.
The following is sampling of the types of events we will plan every year:
1. Meetings, Trainings, and Retreats.
2. Conferences and Workshops.
3. Birthdays, Anniversaries, Graduations and Holidays.
4. Weddings, Receptions, and Showers.
5. Company picnics, banquets, and award ceremonies
6. Government Events

To organize above events we will try our best and categorized them into 4 category. They’re-
Customized Corporate Events
Creative Corporate Events
Customized Personal Events
Government Events

• Pricing
Price is the most thoughtful element of marketing mix. Once set at a level, it is hard for any firm
to change it. As a new comer in the market, Friends Event management has to be cautious in
pricing its services. After bearing in mind a number of elements, Glitz and Glamour Events has
decided to offer its customers a number of packages all based on markup pricing.

10% Mark Up Package

This package is for the corporate clients and to be used in bids for Government programs.
Currently, all other companies are charging 15% mark-up on existing cost as agency charge.
Friends Event management is charging only 10% to send a message that the firm is not only
providing superior services, but actually providing them with much lower cost. This is a strategy
that Glitz and Glamour Events will use to lure clients from the competitors. it will also attract

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small corporations, who at present are unwilling to hire event management services due to high
costs associated with it
8 Mark Up Package
This package is also for the corporate clients those who are interested in sponsoring charity
programs. For example, a company wants to sponsor a concert to raise funds for children
suffering from cancer. If they hire Glitz and Glamour Events to organize the concert, the firm
will charge them 8% mark up on cost instead of usual 10% mark up on cost.
15 Mark Up Package
This package is for non-corporate clients. In this case the firm is charging higher with 15%mark
up over prices. The purpose is sending a message that Glitz and Glamour Events is not interested
in small events and also to communicate to the market that the firm is providing quality services
at a premium price. We are claiming that the firm is looking for prestige and professionalism and
someone looking to cut cost in a birthday party is not the person the firm is looking for. In
sometime customers may want to reduce the price. However in most of the cases will try to
overlook these requests as they will hamper the firm’s business in long run and it will be able to
assure the customers that the cost is a result of quality the firm is providing.

• Distribution of Services

Glitz and Glamour Events is looking to distribute its services in two ways.
Traditional Distribution Network
In this process the customers will call Glitz and Glamour Events or come to its office in search
of help to organize events.
Non-conventional Distribution Network
To find new market, we will try to use our sales force and other channels to get customers. Our
sales people will go to corporate offices to find potential clients, to induce them to use our
service.
The clients can get entrance to the website at any time of the day and make enquiries about the
events that he/she has in mind. This is a process that is not yet followed in our country. This
online service will include ordering for the event, reviewing and complimentary the budget and
monitoring the progress. This will save both time and money of both parties.

• Promotion

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Business promotion is the most important task in marketing plan. However Glitz and Glamour
Events also decide to adopt every promotional activity to promote our business. As new firm we
will take following promotional strategy:
Networking
For most planners, networking is at the top of the list in terms of developing a strong client base.
Networking can help our business in two ways. If people have met us and know what services
we offer, they may refer business to us or use our service themselves. Furthermore, networking
with hotels, caterers and so on will give us a chance to meet some of the people whose services
we may need as we plan events.

Advertising
Glitz and Glamour Events will start advertising on newspapers ten days before the inauguration.
The Ad on first four days will try to create public awareness about the event management
organization. On the 10th day which would be the inauguration day, the firm will give a full-
page booklet on those papers about Glitz and Glamour Events organizational activities, services
and other related topics. We will also advertise in online portal to reach attention of every
possible viewer. We will also advertise indifferent weekly or monthly magazine to promote our
business Electronic media also help to advertise our business. We will choice 2-3 TV channel to
promote our business primarily. We also advertise through mobile operator.

Social Site
Social site like Facebook and twitter are also good way of promoting business. IN this way we
open our official page which will be linked with our official site. In this way we can capture
young people who has very much interest in event management business and also want to
organize event will pay their attention toward us. We also can get feedback from them to
improve our service.

Ongoing Customer Communications

Glitz and Glamour Events will maintain a website and publish a monthly email newsletter to tell
customers about trends, promotions and tips for “making moments memorable”.

SWOT Analysis:
Strength:

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Our core strength lies in the power of our team; our workforce. We have a team
that can go all the way to give our clients value for their money; a team that are
trained and equipped to pay attention to details. We are well positioned and we
know we will attract loads of clients from the first day we open our doors for
business.

Weakness:
As a new event planning outfit, it might take some time for our organization to
break into the market and gain acceptance in the already saturated event planning
and entertainment industry; that is perhaps our major weakness.

Opportunities:
The opportunities in the event planning and entertainment industry is massive
considering the number of weddings, parties and other events that takes places on a
daily basis in the united states. As an all – round event planning outfit, we are
ready to take advantage of any opportunity that comes our way.

Threat:
Some of the threats that we are likely going to face as an event planning outfit
operating in the pakistan are unfavourable government policies, the arrival of a
competitor within our location of operations and global economic downturn which
usually affects purchasing power. There is hardly anything we can do as regards
this threat other than to be optimistic that things will continue to work for our
good.

HR (Hiring) Plan
In order to launch the business, we will hire the following employees:

• Sales and customer service: 2 full-time employees to manage the day to day sales and
customer service
• Communication Team: 3 full-time

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 • Logistics Team: 4 full-time
• General Staff: 3 either full-time or part-time
• Administrative Assistant: Must be organized, with good phone skills, facility with
numbers for bookkeeping, and good writing skills.

Operational Plan
The operations plan section of the business plan outlines how our business will be run and how
our service will be served. We have to strike a careful balance between adequately describing
this topic and providing too much detail.

General Approach to Operations

To provide service we need employee, as we all know business like event management need
young employees as they are energetic and core element of our business. We will emphasis
toward creative employees who can help us in planning event more creative. We will hire fresher
as well people with experience belong to this sector. All employee will be good at different work
such as it, computer operation, management, and designer, marketing and sales. But most of
recruitment will be contractual basis rather permanent except specialize employee. As we need
lot of volunteers to accomplish each event we recruit them part time basis. We also maintain
good relation with our support services like catering, decorator, designer, flower shop and other
related parties.

Business Location
The location of the office for Glitz and Glamour Events will be decided when the firm will go
into operation. The place for the office will be decided based on the suitability of the prospective
clients of the company. The probable places are Gulgasht and Cantt. These locations in the list of
probable location, if that is convenient for the clients. We will do more research on it to
determine the best location for our office.

Facilities and Equipment

The company will maintain a high degree of professionalism. Whole office will be equipped
with the latest in business technology, such as telephone systems, computers, fax machines,
email, duplicators, printers, and software. In office location will have a secure storage area for
supplies and equipment used in events, such as walkie-talkies, cellular phones, portable fax
machines, and laptops

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 Risks Assessment
All Event management firm should engage in a continual process of examination and review of
their existing events to ensure that the environment is safe for participants, officials, volunteers
and spectators.
This process of examination becomes even more important in the planning process for new
events. A failure to assess the risks involved in events can be disastrous as a result of:
• Loss of reputation
• Financial loss
• Damage to facilities
• Injury to players
• Over-stressed workers
• Loss of equipment

Challenges:
Over-resourcing of one objective leading to under-resourcing of other objectives Our main
challenges to operate this business are as follows:
• Major strength of our competitor unknown which may be a challenge to face as new
comer
• Providing satisfactory customer service
• Creating a unique brand value in this industry which differentiate us from other
• Most important challenge is to proper management
• To make every event memorable

Financial Plan
This section begins the financial analysis of a business, which is further fleshed out in the
financial projections. It addresses the basic logic of how profits are earned in the business and
how many units of a business’s product or service must be sold for the business to “breakeven”
and then start earning a profit.

Profit Margins:
Our key revenue drivers will be our corporate and individual events. As government event are
difficult to get and it has lot of option. On the other hand corporate and individual events will
take place all over the year moreover it will generate a handsome amount of revenue in favour of

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Glitz and Glamour Events, . Individual event are also a great source of revenue generation as
weeding take place each month more or less and also other events too. Margin is also crucial
element in any business. As event management will provide service in order to generate revenue.
It will decide to charge 8-15% margin of profit in each events it organize. It may also will to
charge 20% if some creative event with great value added service it provide to its potential
client.

Start-up Costs:
Through careful planning on the part of the founders, the start-up costs for Glitz and Glamour
Events are minimal. The start-up cost investment funds were provided by each of owners to
establish this business. It is the wish of the founders to remain a debt-free establishment.
However, recognizing that in reality not all variables are controllable, outside financing is a
viable option. If fund needed in near future Glitz and Glamour Events will choice this option to
finance their activities.

Particluars Cost (in ruppees)

Furniture 300000
Decor 150000
Air conditioner 200000
Telephone 50000
Computer 300000
Scanner 10000
Printer 20000
House rent 75000
Scanner 300000
Printer 150000
Photocopier 100000
Stationary 60000
Advertisement 300000
Miscellaneous 50000
Additional cash 500000
Registration 50000

Total 2,615,000

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Uses of Funds Statement:
Our main source of fund will come from the contribution of the owners and borrowing. The
portion of funding given as follow:
Particulars Amount Percentage
Owner’s Equity 1,615,000 61.75%
Liability/ Borrowing 1,000,000 38.25%

Total 2,615,000 100%

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