Entrepreneurship Assignment : Wedding Bells

ENTREPRENEURSHIP

EXECUTIVE SUMMARY
Entrepreneurship refers to a process wherein a new product or service is launched with
the aim of finding out solutions to social and economic problems being faced by people within
the society. The below mentioned report is based on “Wedding Bells” which provides services
associated with event planning and management. This project is being set up by 3 friends who
would share the profits and losses in the ration of 1:1:1. This entity will target upper, upper
middle and middle class individuals. The firm will collectively invest £1,300,000 into the
business so as to carry out the operations and functions of business effectively. Apart from this,
£500000, £50000 and £300000 will be personally invested by the three partners respectively.

Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
Section One: The Business..............................................................................................................4
A. Description of Business and Aims.....................................................................................4
B. Products/Services...............................................................................................................7
C. Market Analysis.................................................................................................................8
D. Marketing plan.................................................................................................................10
E. Location...........................................................................................................................12
F. Competition......................................................................................................................12
G. Management and operations............................................................................................13
H. Personnel.........................................................................................................................13
Section Two: Financial Data .........................................................................................................13
A. Projected Financial Statements........................................................................................13
B. Break Even Analysis : United Kingdom..........................................................................16
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

INTRODUCTION
Entrepreneurship can be referred to as the process of devising, developing, formulating
and managing a new business venture. In simple terms, this process strives to generate solutions
to the social and/or economic problems that exist within the society so as to ensure satisfaction of
the community in which business prevails (Achmad, Saputro and Handayani, 2016). The persons
who initiate this kind of business are referred to as entrepreneurs. Entrepreneurship is largely
concerned with taking the initiates to convert a business idea into action and assuming the risks
to earn profits. The present report is based upon Wedding Bells which is an organisation that
provides services associated with design, music, decorations and catering for marriages and other
parties. This assignment is divided into two sections. The first section lays out the brief
description about the venture in terms of its aims, products/services, location, rivals,
management and operations, personnel etc. Section two consists of financial projections such as
cash flow, profit & loss and capital required.
Section One: The Business
Aims and Objectives
 Wedding Bells is being setup with the sole objective of meeting the social needs and
demands of customers by providing event management services. This will assist the
entity in enhancing its sales and profits.
 The owners of this venture strive to render job opportunities to people within UK so as to
give a boost to economy of the country.
A. Description of Business and Aims
Type of Business
Wedding Bells is a hospitality organisation which strive to cater to the needs,
requirements and preferences of population of United Kingdom so as to derive maximum
satisfaction out of them and ensure sustainability of business for a long duration of time.
Course of Business
Wedding Bells is an event planning company which provides services associated with
music, decoration, catering in several types of events, especially marriages. This enterprise is
going to run in London and provides facilities to the confines of UK.