Entrepreneurship

DREAMS
Making It Possible

Submitted By: Submitted To: Sir Shahid Chaudary Mubashar Nauman Bilal Habib Omer Bin Shahid Hafiz Masood Umer Rehan Nazir

Entrepreneurship

Project

Event Management

Project Title Sheet

Project Title:

DREAMS
Making It Possible

Group Members:
1. 2. 3. 4. 5. Mubashar Nauman Bilal Habib Omer Bin Shahid Hafiz Masood Omer Rehan Nazir

Nature of Business/ Industry:

Our Nature of business is EVENT MANAGEMENT arranging different types of function. We are a full-service Event Planner group and provide the following services: etiquette advice, Wedding Planners, Cooperate events, Business events, Opening ceremonies, Product launching, Family parties, Birthday parties, Catering services, Music concerts, Educational ceremonies, Decoration, Flowering and planning of all other types of events.

Executive Summary:
DREAMS MAKING IT POSSIBLE, Event Management is a full service company that provides complete consulting services for all types of events. Our consultants are experienced and dedicated professionals with many years of event planning experience. DREAMS MAKING IT POSSIBLE, is unique in that we give our clients our undivided attention. We listen to their needs and work with them to create the event of their dreams. Our clients' wishes become our commands. So whether our client wants a Western, Tropical, Las Vegas or more traditional wedding, we can help. Our services include weddings, honeymoons, receptions, anniversary consultations, budget planning, answers to etiquette questions, as well as full-service referrals to florists, hair stylists, entertainers, musicians, etc.

Estimated Budget:
We estimate that our start-up costs will be Rs.80,00,000/= (including legal costs, logo design, advertising, direct mail, and related expenses). An additional Rs. 20,00,000/= will be required in the bank account as an operating capital for the first two months of operation. The start-up costs are to be financed in equal portions by the all partners.

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INTRODUCTION
Business History:
Event planning can be defined as the systematic management of events and gatherings. It is one of the emerging sectors with a promising future. Event planning that we see in the current scenario has come through various developmental stages during the last century. From small board room meetings to large wedding parties and birthday blasts are being taken care of by event planners. When we look in to the history of event planning some 100 years ago, it was hardly considered as a profession even. Now event planning is one of the most successful professions in the service sector where individuals are responsible for planning the entire requirements of a social event. Event planners take the responsibility of all the aspects of a function. This can be from the setting up of time, date, location to the arrangement of stage, flower decoration, catering services, stationary supplies, budget creation, advertising, audio visual requirements and any such needs of a function. This all in one concept is one of the reason for the tremendous establishment in event planning industry. People were running here and there to arrange their needs during a function. They had to rely on one contract for food services, another for stage arrangements and one another for decoration purposes and so on. With the development of event planning through the last century, people are able to find solution for these issues by approaching an event planner for all their event necessities and services. In the current scenario event planning has become largely dependent on the economic conditions prevailing in a country. Since there has been a rapid development in the lifestyle of people all around the world during the past century, the extent of social events being set up has increased tremendously. As a result of this people are ready to spend huge amounts of money for the services of event planners. Event planning has come a long way from a non specialized profession to a highly focused one with the introduction of various education programs in the field. Now there are universities and private colleges around the world offering various certificate and degree programs in event planning. Even masters and post graduate programs are being discussed in this context. The career prospectus of an event planner is also considered to be high in the 21st century. They can start their event planning career as secretaries or assistants in setting up various events. The presence of numerous event planning associations throughout the globe is another remarkable development in the industry. As a result of all these developments, event planning has become highly competitive and this paves way for an overall increase in the efficiency of service as well as for quality innovations in the industry. Event planning has come to a stage of extreme exposure and utilization in means of its business developments. The last century has witnessed the massive developments faced by all nations. The uplifted lifestyle of individuals and businesses has been the root causes for the development of many industries. This was impacted on event planning or event management too. Even though the last twenty years takes the credit of massive growth in the sector, the whole of the century can be considered important in the history of event planning. And now, event planning continues to grow in the same direction with more strength and power, towards achieving a goal of service excellence among other service sectors too.

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Business Leader:
At this time in Lahore Nadeem's Catering Company is the Business Leader. Established in July 1993, Nadeem's Catering Company spelled out its vision for setting new standards of excellence in the catering industry of Pakistan. By the grace of God Almighty and by dint of whole hearted and dedicated services of a team of seasoned professionals it gradually made its mark in the ever-growing and competitive industry. The diversity of cuisine, the exclusivity of services, the uniqueness in ambiance and the creativity in execution played a pivotal role in winning the confidence of its discerning clients. It has always worked at creating ideas to add something extraordinary to usual themes. Be it a wedding, a corporate get-together, a birthday or a social gathering, Nadeem's never compromised on making the event a memorable one from all aspects. After years of hard work and sincere efforts towards delivering the best of its services, Nadeem's has become an event management company par excellence.

SWOT Analysis
The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing Nadeem's.

Strengths

Superior, specialized service offerings. Well-trained, enthusiastic employees. Strong relationships with complementary service providers.

Weaknesses

The concentration of a small niche of the market that will limit the potential size of the market. The difficulty of generating awareness and visibility of the company in its first few years of operation. The inability to rapidly scale to meet large, unexpected increases in demand.

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Opportunities

Project

Event Management

A growing market of companies that are outsourcing event planning activities. Being one of the first service providers concentrating on this specific niche. Relatively low overhead.

Threats

A slump in the economy that could have a ripple effect on service providers. Future competition from existing service providers competing in different but complimentary market spaces. The inability to find qualified, high quality employees.

Keys to Success
The keys to our success are as follows:
1. Service our clients' needs promptly and efficiently. 2. Maintain an excellent working relationship with vendors such as florists, hair salons and bridal shops. 3. Maintain a professional image at all times.

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DREAMS
MAKING IT POSSIBLE

Company Profile
DREAMS MAKING IT POSSIBLE, Event Management is a start-up company that provides wedding, holy union, and anniversary consulting services to brides, grooms and other family members. We are a full-service bridal consulting group and our goal is to put the "fun" back into planning a wedding, holy union or anniversary party. Too many people become overly stressed and frustrated when planning these wonderful events. We are experienced and professional consultants and will use our expertise to help create memorable and stress free events for our customers. By doing this, our clients can sit back and enjoy their event.We create events suited to the couple's unique style--a true expression of their relationship and individuality as a couple.

Executive Summary:
DREAMS MAKING IT POSSIBLE, Event Management is a full service company that provides complete consulting services for all types of events. Our consultants are experienced and dedicated professionals with many years of event planning experience. DREAMS MAKING IT POSSIBLE, is unique in that we give our clients our undivided attention. We listen to their needs and work with them to create the event of their dreams. Our clients' wishes become our commands. So whether our client wants a Western, Tropical, Las Vegas or more traditional wedding, we can help. Our services include weddings, honeymoons, receptions, anniversary consultations, budget planning, answers to etiquette questions, as well as full-service referrals to florists, hair stylists, entertainers, musicians, etc.

Company Ownership
This business will start out as a simple proprietorship, owned by its founders, Mubashar Nauman, Bilal Habib, Omer Bin Shahid, Hafiz Masood Umer and Rehan Nazir. As the operation grows, the owners will consider re-registering as a limited liability company or as a corporation, whichever will better suite the future business needs.

Products or Services:
Our Nature of business is EVENT MANAGEMENT arranging different types of function. We are a full-service Event Management group and provide the following services: Etiquette advice, Wedding Planners, Cooperate events, Business events, Opening ceremonies, Product launching, Family parties, Birthday parties, Catering services, Music concerts, Educational ceremonies, Decoration, Flowering and planning of all other types of events.

Location
We have decided M M Alam Road as main location of our business. As its a popular place in respect of events management and most of people seek event managing services there. Moreover in this area other event management companies are located that make it more easy for us to introduce our company as an
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event management company, also that we have an opportunity to compete against the other companies in the market in order to overcome the market of event management.

Vision And Mission Statement Vision:

We are watching our company as the leading event management company not only in the Pakistan but also in the continent.

Mission:
We are trying to make our company as the best event management company by satisfying our precious customers.

Business Core Values

1. 2. 3. 4. 5. Our employees are competent and loyal. We have enough resources to get a high status. We are strong monetarily. We are assiduous and diligent to our goal. We have emerged with new and innovative ideas.

Scope of Business
Event planning can be defined as the systematic management of events and gatherings. It is one of the emerging sectors with a promising future. Event planning that we see in the current scenario has come through various developmental stages during the last century. From small board room meetings to large wedding parties and birthday blasts are being taken care of by event planners. Event planning has come to a stage of extreme exposure and utilization in means of its business developments. The last century has witnessed the massive developments faced by all nations. The uplifted lifestyle of individuals and businesses has been the root causes for the development of many industries. This was impacted on event planning or event management too. Even though the last twenty years takes the credit of massive growth in the sector, the whole of the century can be considered important in the history of event planning. And now, event planning continues to grow in the same direction with more strength and power, towards achieving a goal of service excellence among other service sectors too.

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MARKETING ANALYSES
Marketing Research
The main source of marketing research that DREAMS MAKING IT POSSIBLE, EVENT MANAGEMENT used to validate and improve their marketing plan was a comprehensive questionnaire that was administered via email. By using email as the method of delivery DREAMS MAKING IT POSSIBLE, EVENT MANAGEMENT was able to to send out far more questionnaires for the same amount of money than if they were to use more traditional, labor intensive methods, and received more responses with a faster response time. The questionnaire was comprised of 75 different questions with each question having four possible answers to choose from. The questionnaire was designed to elicit information regarding customer preferences, the different types of outsourced activities companies typically use, as well as to test assumptions held by the founders regarding the perspective market. The survey was constructed by a Statistics graduate student from the University of Lahore and was heavily tested to ensure valid, significant, relevant results. A total of 300 questionnaires were sent out with a return rate of 31%. This return rate is far better than a traditional survey. The main factor in this extraordinary return rate is that the participants were friends or acquaintances of the DREAMS MAKING IT POSSIBLE, EVENT MANAGEMENT or someone connected to DREAMS MAKING IT POSSIBLE, EVENT MANAGEMENT , and the participants were given a heads-up to prepare them for answering the upcoming survey.

Market Analysis
Nearly Rs. 35 billion are spent every year on events management. Therefore, professional event planner is a commodity, not a calamity. DREAMS MAKING IT POSSIBLE, Event Management are fullservice event planners that offer a variety of services to our clients. We pride ourselves on being professional and courteous at all times and we have packages to suit everyone's needs. As previously stated, events management is a billion Rupees industry, therefore, just about everyone we meet is a potential client. However, .

Market Segmentation
The breakdown of the market for event planning falls in a wide, very diverse grouping. Individuals as well as organizations demand the services we provide. In order to provide the greatest depth of information, the market segments have been broken down into private and public organizations, and age groups. 1. PrivateOrganizationsandBusinesses: Private organizations make up the single largest portion of Occasions' client base. Private organizations such as businesses, corporations, and political parties host the most events on the largest scales; therefore, these events generate larger revenues per event. The majority of larger scale holiday functions will fall under this segment. 2. PublicOrganizations: Government agencies host many events every year. Occasions hopes to alleviate the pressure of event planning for public employees. The second single largest segment, the public sector, can
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save money and give back to its community at the same time. These events are moderate in scale with middle to low revenues generated. Emphasis is placed on the visibility of the event for public viewing. The majority of organizational family functions will fall under this segment. 3. Age Breakdowns o Under 24: Persons under the age of twenty-four (24) using an event planner are rare at best. We hope to tap the early college graduates who have begun their professional careers but have not yet started their families. These events will focus mainly on themes with moderate to high energy appeal. The revenues generated will range from moderate to high, depending on the event. The majority of weddings will fall into this segment. o Ages 25-55: The persons that fall into this age group are employed, middle to uppermiddle class families. The reason they choose event planners is they are too busy to do it themselves. Therefore, Occasions will be on hand for questions, contact will be moderate in length but occur regularly so as not to disturb the daily life of the families. These events will generate moderate revenues, with a few generating low revenues. The majority of special occasion planning will occur in this market segment. o Ages 56 and above: Persons over the age of 55 have reached the turning point of life. Many are retiring, others are celebrating anniversaries of significant years, and still others are seeing that their children's special events are taken care of. These events will generate moderate to high revenues depending upon the income level of the family (direct correlation to social status). Most holiday parties, and other special occasions, such as wedding receptions and reunions, will occur in this market segment. 4. Other This segment has no direct information to compile for a description. It consists of any event planned that does not fit into one of the above categories.

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Target Market Segment Strategy

Our target markets are middle to upper-middle class families, couples, individuals, or private and public organizations. We chose these groups because 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. The fast pace of the world we live in leaves little time for extra things we would like to do, like plan events, parties, and social get-togethers. Occasions 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. The demand for this service can only increase considering the rise in incomes, population, and need for interpersonal relations in the workplace.

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MANAGEMENT
Management Summary
Our wedding consultants are Mubashar Nauman, Bilal Habib, Omer Bin Shahid, Hafiz Masood Umer and Rehan Nazir. Collaboratively they have planned and serviced over 150 events. They are about all areas of planning, decorating, as well as budgeting. Mubashar has an experience in Manage the events Interior Decorating. She has been a event manager for three years and became interested in providing consultant services when he successfully planned his first five events. Mubashar has also received extensive training in event planner. Bilal has an Associates Degree in Fashion Design, and, like Mubashar, he became interested in becoming a consultant when he successfully planned his first three events. Bilal received certificate from the different events. Bilal enjoys all aspects of planning traditional and nontraditional events. Rehan has an interested in Photography, and, he became interested in becoming a consultant when he successfully planned his first three events. Rehan enjoys all aspects of planning traditional and nontraditional events. Omer and Masood have also an intereste in events planning, and they enjoy all aspects of traditional and nontraditional planning of events.

Personnel Plan
Initially, DREAMS MAKING IT POSSIBLE personnel will include only the five owners, all of whom will be working full time. As the personnel plan shows, we expect to hire an additional event planner in the next year this person will work full time, but will not be included in the management decisions

Business Hierarchy:

Chair man Mubashar nauman

Vice president Bilal Hbib

CEO Omer Bin shahid

Director/ Chife Co-ordinator Rehan Nazir

CFO Hafiz Masood Umer

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Managing Director

Finance

Production

Marketing

HRM

Staff

Staff

Staff

Staff

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BUDGETING
Total Estimated Budget:
We estimate that our start-up costs will be Rs.80,00,000/= (including legal costs, logo design, advertising, direct mail, and related expenses). An additional Rs. 20,00,000/= will be required in the bank account as an operating capital for the first two months of operation. The start-up costs are to be financed in equal portions by the all partners.

Costing Break Up:

Admin Expenses Acquiring the building= Rs. 4000000/= Renovation=Rs.50000/= Furniture= Rs. 100000/= Utilities= Rs. 50000/= Necessary transportation= Rs. 500000/= Approval from Government Bodies= Rs. 50000/=

Salaries (Personal Usage Amount) / Month= Rs. 100000/=

Marketing Expense / Month= Rs. 50000/=

Product/ Services Costing / Month

Machine Cost Raw Material= Rs. 25000/= Labor costing= Rs. 50000/= FOH Detail= Rs. 25000/=

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Competitor Analyses
Competitor Direct competitors
Nadeem Event Management Top Events Gourmet Fine Catering

Indirect competitors
Crowns Weddings Halls Qasar e Noor Banquets Halls Al-Jannat Marriage Hall

Competitive Edge
By aggregating a complete range of wedding services under one roof, TLC Wedding Consultants will offer its customers the ease of one-stop shopping. The company will leverage its owners' expertise in planning such events to competitively position itself as a premier provider of wedding services. Both owners have very strong communication skills that will help develop the 'buzz' about the high quality of the services offered by TLC Wedding Consultants.

Sales Strategy
The company's sales strategy will be based on the following elements:

Advertising in the Yellow Pages - two inch by three inch ads describing the services will be placed in the local Yellow Pages. Placing advertisements in the local press, including The Register Guard, Eugene Weekly, The Oregon Daily Emerald. Developing affiliate relationships with other service providers (florists, hair stylists, caterers) that would receive a percentage of sales to the referred customers. Word of mouth referrals - generating sales leads in the local community through customer referrals.

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Table Of Contents

Sr.No.

Particular

Page

1 1.1 1.2 1.3 1.4 1.5 2 2.1 2.2 2.3 2.4 3 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 4 4.1 4.2 4.3 4.4 5 5.1 5.2 5.2 6 6.1 6.2

Project Title Sheet Project Title Group Member Nature of Business Executive Summary Estimated Budget Introduction Business History Business Leader SWOT Analysis Key to Success Dreams Company Profile Executive Summary Company Ownership Product or Services Location Vision and Mission Statement Business Core Values Scope of Business Market analyses Market research Market Analyses Market Segmentation Target Market Management Management Summary Personnel plan Business Hierarchy Budgeting Total Estimated Budget Costing Breakup Adman Salaries Market

1 1 1 1 1 1 2 2 3 3 4 5 5 5 5 5 5 6 6 6 7 7 7 7 9 10 10 10 10 12 12 12 12 12 12

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6.3

7 7.1

7.2 7.3

Product/ Service Costing Raw Material Labor FOH Competitor Competitor Direct Indirect Competitive Edge Sale Strategy

12 12 12 12 13 13 13 13 13 13

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