Entrepreneurship Assignment Sample
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Added on 2020-10-05
Entrepreneurship Assignment Sample
Added on 2020-10-05
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ENTREPREUNERSHIP(PART 3)
EXECUTIVE SUMMARYThis report is about starting up a new entrepreneurial business in event and weddingplanning industry named as Wedding Bells. This business would be set up by two friends whoare business partners named as Jack and John who has decide to locate their company inLiverpool city of UK within a flat of 'The Tower building' which is taken over lease. Weddingbell is going to offer services such as organising of wedding event and other parties, foodmanagement, decorations etc. These services are being offered to the high, middle and uppermiddle class people. For setting up this business effectively Wedding bells required around £53Kto invest at initial stage.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................4SECTION ONE: THE BUSINESS..................................................................................................4A. Description about business.....................................................................................................4B. Product or Services.................................................................................................................5C. Market Analysis......................................................................................................................6D. Marketing plan.......................................................................................................................7E. Location..................................................................................................................................9F. Competition.............................................................................................................................9Management and operations.....................................................................................................10H. Personnel..............................................................................................................................10SECTION TWO: FINANCIAL DATA ........................................................................................10CONCLUSION:- ..........................................................................................................................12
Aims and objectives:- Main aim behind idea of opening up Wedding bell in order to provide unique services tocustomer by organising special events of their life such as wedding and other parties. Owner ofcompany are aiming toward enhancing their financial strength by providing high quality servicesat relatively affordable price. Wedding bells will supplement to main income of owners.The owner of Wedding Bell has decided to involve their family members in order toachieve harmony in organisation for getting better outcomes by having integrated efforts ofmembers.INTRODUCTIONEntrepreneurship refers to the process of planning, launching and managing a businesswith some new or innovative idea for serving customer's demand. This require an entrepreneur tobe capable and willing to manage a new business venture by dealing with all the competitionsand other risk in order to make profit (Adeyemo, 2014). This report is based over Wedding Bells,a company which organise wedding and other special event parties as per the customer demands.Under this report there is a detail description about the business concept, product/services itoffers, marketing plan, analysis, Location for business, competition present, personnel requiredand Management & operations. In addition to this it also includes financial data related toincome statement, break-even point, Profit & loss, balance sheet and cash flow that help inpresenting the financial information and performance of companySECTION ONE: THE BUSINESSA. Description about businessWedding Bells is a private business which is being established with an aim to offer eventplanning and organising related services. It basically belongs to Event & Wedding planningindustry which depends over the willingness of businesses and households to spend money onsocial gatherings. Wedding Bells will work toward organising event related to weddings,birthday parties, kitty parties, anniversary celebration and many more. This business is a start-upwhich is worked with an aim to organising event for the special days of customer to providethem with an arrangement for which they are dreaming. Wedding bell is start up by two friends as a partnership firm because an event planningcompany required more investment at initial stage due to increasing competition. But in order to
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