Entrepreneurship Assignment - "Wedding Bells"
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Added on 2020-10-23
Entrepreneurship Assignment - "Wedding Bells"
Added on 2020-10-23
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ENTREPREUNERSHIP
EXECUTIVE SUMMARY Entrepreneurship is the process of creating a business or businesses by developing andscaling it to generate revenues. This involves an entrepreneur who takes action to make changesin the world. The new venture which is starting is named with “Wedding Bells”, which deals inplanning the special day of the people. It includes marketing, wedding planning, food and eventmanagement. Its key owners are John K. Kethy and Berline Gaint and their company is entirelybased in a London just opposite to Hampton court palace. Its target market are customer andsuppliers to whom the services are render. It includes high, upper middle and middle segments ofthe people. For starting this venture the organisation will need approximately £10000 amountand it will be financed by the commercial banks. It will also face the enormous competition inthe market because there are already established wedding planning companies. The main servicewhich will be offered by the wedding bells will be provision of destination events of weddings inwhich each event will be organised at different destination. Apart from this, the company willsell the entire wedding package to its customers which will begin with the engagement till thehoneymoon and enables customisation so that customers can alter the packages according totheir needs.
Table of ContentsEXECUTIVE SUMMARY ............................................................................................................2AIMS AND OBJECTIVES.............................................................................................................4TASK1.............................................................................................................................................4A. Description of the business and aims................................................................................4B. Products or services...........................................................................................................5C. Market analysis..................................................................................................................6D. Marketing plan...................................................................................................................7E. Location.............................................................................................................................8F. Competition........................................................................................................................9G. Management and operations..............................................................................................9H. Personnel.........................................................................................................................10TASK2...........................................................................................................................................10Projected financial statements..............................................................................................10CONCLUSION..............................................................................................................................13REFRENCE...................................................................................................................................15
AIMS AND OBJECTIVESThe main aim and objectives of the wedding bells is to intensify the growth andopportunities for the businesses.It will boost the growth opportunities for the relatives and friends. The main aim is to generating profits by satisfying customers through ensuring them withquality wedding at affordable prices within the budget set by the customers. This will develop the managerial capabilities, creation of organisations, improvingstandard of living, etc. The main purpose of the wedding bells business is to study the new businesses as well asthe actual process of starting a new venture.In other words, this procedure designs, launches anddirects the new businesses which is a small venture at a initial stage. It works for making thespecial day of the life of the customers memorable and leaves a long lasting impression on guestas well. Their purpose is to design each and every event of the wedding in a unique way whichwill give different experience to the people.TASK1A. Description of the business and aimsThe business is concerned with the use of expertise knowledge of the wedding industry toplan the couples wedding (Achmad, Saputro and Handayani, 2016). Wedding bells will furtherincludes the planning of every event of the wedding like pre wedding parties, post weddinglunches, honeymoon, etc. The aim of business is to provide inspiration, advice and support to thecouples while planning a seamless string of events which culminates in an exceptional day forfamily and friends. It is the newly start up business which are usually small at the initial stageand various government policies that are favourably supporting the funding of start up businessesinfluences the people to start their own businesses. Wedding bells generally offers those productsand services to the customers which are offered by handful of companies in the market so thishelps them in establishing their position as quickly as possible. It is partnership form ofbusinesses which have been incorporated by two friends who have agreed to share the profits andloses in equal proportion (Adebayo and Otemuyiwa, 2015). Apart from this, the business is alsoentitled to register themselves and issue licences which are essential for initiating the various
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