Business Plan: Launching International Sports League by Austage Events

The report presents a comprehensive business plan for Austage Events, focusing on the launch of an "International Sports League." It begins with an executive summary and delves into the background of the idea, highlighting the increasing popularity of international sports tournaments and Austage Events' expansion strategy. The mission of Austage Events is outlined, emphasizing their commitment to event management. The report then analyzes the market, including industry trends, competition, and the target market, which includes both national and international sports personalities. A detailed marketing strategy is provided, including product offerings, pricing, distribution, and promotional activities leveraging digital platforms. The financial plan and potential risks are also addressed, followed by a conclusion that summarizes the key findings and recommendations for the successful launch and operation of the International Sports League. References are included to support the research and analysis presented in the report.

Running Head: Entrepreneurship
Austage Events
Entrepreneurship

Entrepreneurship 1 | P a g e
Executive Summary
Business plan is considered as the blueprint of the plans and strategies formed in order to attain
desired goals and objectives. It is also considered as the formative statement of organizational
objectives along with the methods through which those goals could be attained. In this report,
business plan in consideration to the Austage Events will be discussed which is planning to
introduce a special sports event at international level. This sports event will be quite similar to
the other international sports tournaments. For better promotion of the sports event, organization
has named this event as “International Sports League”. With regards to this sports event, this
report will include a business plan which will focus over different aspects such as mission of the
organization, background of the idea, market analysis, industry analysis, competition in the
industry, target market; marketing and promotional activities used for spreading awareness and
for targeting its audience will be discussed.

Entrepreneurship 2 | P a g e
Table of Contents
Executive Summary.........................................................................................................................1
Background to the idea....................................................................................................................3
Mission............................................................................................................................................3
Product offering...............................................................................................................................3
Market Analysis...............................................................................................................................4
Industry analysis..........................................................................................................................4
Threat of substitutes.................................................................................................................4
Threat of new entrants..............................................................................................................4
Buyer’s power..........................................................................................................................4
Supplier’s power.......................................................................................................................4
Industry rivalry.........................................................................................................................5
Competition..................................................................................................................................5
Primary market................................................................................................................................5
Marketing.........................................................................................................................................5
Product.........................................................................................................................................6
Price.............................................................................................................................................6
Place/distribution.........................................................................................................................6
Promotion.....................................................................................................................................6
Financial Plan..................................................................................................................................6
Capital Risks....................................................................................................................................8
Conclusion.......................................................................................................................................9
References......................................................................................................................................10

Entrepreneurship 3 | P a g e

Entrepreneurship 4 | P a g e
Background to the idea
As popularity for sports tournament is increasing rapidly across the globe and at the international
level, there are only few sports tournaments which conduct all types of sports. Austage Events is
engaged in creating world-class event experiences for corporate, entertainment, fashion,
education and not for profit spaces since 1994. In order to expand their business, organization
has decided to expand its operational area by introducing a special sports event. As this event
will be conducted at international level, all the international players fro, different sports
background will be invited to participate for making the event successful. Along with this, retired
players will also be invited in this event to properly organise and judge the matches which will
be conducted between several international and domestic players. Apart from this, organization
will fund this event by multiple mediums such as public funding, investors will be approached
and the idea of international sports event will be promoted to them (Austage Events, 2018).
With the help of idea of launching sports event at international level, organization would be able
to enhance its revenues, profitability along with generating various opportunities to expand their
presence in the different parts of the globe. The major sports events are Olympics which are
conducted by International Olympic Committee (IOC) and Asian Games also known as Asia are
conducted by Asian Games Federation (AGF). Standing along with these two big events will
help the Austage Events to gain popularity across the globe (Wood, et. al., 2015).
Mission
Austage Events’ mission is “to be the service leader for Australia’ Audio Visual and Event
needs”. In addition to this mission, organization has expanded its goals and objectives in relation
with being the service leader in the event industry along with expanding their event operations in
numerous fields. Austage Events has also adopted technology for conducting their events in an
effective manner. They have developed a team of technical directors who are capable and
passionate enough to bring event vision into life. Organization also supports innovative
applications to be creative and modern enough to generate 2D and 3D visual insights into their
events. As organizational mission is to be the service leader in the overall event industry and for
this, organization has decided to expand their operational area by investing and introducing in an

Entrepreneurship 5 | P a g e
international sports tournament which will be launched under the name “International Sports
League” (Austage Events, 2018).
Product offering
Austage Events was stated in a small warehouse on Mitchell Road in Alexandria, Sydney. Joe
and Collen are two founders which worked really hard to build this business along with making
it capable enough to stand with other international event companies. Austage Events operates in
various fields and they have developed their position as expert in the fields like corporate,
entertainment, education and fashion. Organization has already developed its national image and
now organization is planning to expand its business at the international level for becoming leader
of the event planning service companies. Along with these fields, organization is now coming
with a huge event through which the company will be able to mark itself as a big international
event organiser along with becoming primary competitor for Bassett Events, MKG-New York,
Colin Cowie, etc. (Event Manager Blog, 2018).
Market Analysis
Industry analysis
Global event industry is increasing rapidly and with regards to this, demand for event service
planning companies is also increasing. Event industry is not engaged in executing wedding and
birthday parties. There is a huge role of event industry in various fields like in terms of brand
promotion, execution of events. Revenue of B2B event industry across the globe amounted to
30.3 billion U.S. dollars in 2016 which was approximately 29.3 billion more than the previous
year (Quezada, Walton & Sharma, 2016).
Scope for event industry is increasing rapidly in the developing countries along with the
developed countries as individual disposable income is rising rapidly. Austage Events has their
offices in Melbourne, and Perth in order to reach to their target audience (Pek, 2016).
Threat of substitutes
As such there are no substitutes for the event planning services, thus, threat of substitutes is weak
factor which could affect organizational performance. The major substitute available is manual

Entrepreneurship 6 | P a g e
handling of the events by the host party but as it is quite complicated task, thus, people prefer to
outsource it to event organisers for the objective of executing particular event in an appropriate
manner.
Threat of new entrants
There are various big players already exist in the global event industry and with regards to this,
threat of new entrants is also a weak factor for the existing players. Before giving an event to an
event organiser, host party thinks for number of times and with regards to this, organization
goodwill and its effect in the market plays vital role. Setting goodwill in front of the big event
organisers is a challenging task for the new entrants, thus, functionalities of Austage Events will
not get affected (Mizgier, et. al., 2015).
Buyer’s power
As such no event company is organising sports league at international level as planned by
Austage Events. Thus, the scope for buyers to switch towards other event companies does not
have much scope. There are numerous sports which are played across the globe and organising a
sports league at the international level will help the organization to bring interest of different
customer segments along with attracting big investors to raise the funds (Yamada, et. al., 2015).
Supplier’s power
Austage Events believes in developing good relations with their customers as well as with their
suppliers for sustainable growth and development. Another major objective for retaining better
relations with the existing suppliers is retaining its potential and existing clients for long run
(Jugenheimer, Sheehan & Kelley, 2015).
Industry rivalry
Event industry is overloaded with the competition and this competition is a never ending race.
Although, competition helps the companies to be unique, creative and innovative to stay ahead
from their competitors, thus, competition should be present. With regards to the introduction of
sports league at international level, level of competition is quite low. Thus, Austage Events
would be able to set up its brand image in the global event planning service industry (Eventbrite,
2018).

Entrepreneurship 7 | P a g e
Competition
As event industry is growing at fast pace, thus, it is necessary for the organization to make its
unique image in relevance with beating their primary competitors. Top event companies across
the globe are Bassett Events, MKG-New York, Colin Cowie-New York, David Tutera-New
York, A Perfect Event, and many more which have acquired a large part of the market share. In
relation to this, it is necessary for every organization to adapt change because every industry
requires change for growth and development (Yau, 2018). In consideration to retain its brand
image along with retaining its competitive advantage, it is required for the organization to
introduce unique services along with their existing services for retaining their existing and
potential customers’ interest (Woodward, 2018).
Primary market
Primary target market for the new event organised by Austage Events are the national and
international sports personalities. The International Sports League will conduct various games
amongst these players and award them with fancy prices and medals on the basis of their
performance in the competition. The theme of this sports league will be quite similar to the
theme of Olympic Games, although, it will not be as huge as Olympic Games, but still it will be
a big platform for the players who have talent and never got the chance to showcase their skills
yet. With regards to this, organization will target every customer segment that has certain level
of interest in the sports. This will help the organization generate revenues for their International
Sports League (Pisano, 2017).
In order to approach to the target customer segment, organization will choose the most suitable
location to conduct the sports tournament where consumers could reach easily along with the
market where demand for sports tournament is high. Organization will promote their sports
league with different modes of promotional and advertisement strategies in order to gain desired
goals and objectives along with making their capable enough to stand with the top event
organisers across the globe (Van der Wagen & White, 2014).

Entrepreneurship 8 | P a g e
Marketing
This is the most effective element of a business plan and it has the potential to create brand
awareness and product awareness amongst the target audience. With regards to this, organization
could easily uplift its performance by generating demands amongst the target audience through
different marketing strategies. One of the effective marketing strategies for promoting a new
product in the target market is marketing mix which consist of four effective elements i.e.
product, price, place and promotion (Brown, 2014).
Product
Austage Events has decided to enter into sports event category with the objective of enhancing
their customer base and operational area. The wide will be their operational area, the more
opportunities will be generated for the organization to grab huge market share. At the
international level, there are only options for the sports persons to showcase their talent and in
these tournaments, few people get the chance to participate but the event organised by the
Austage Events will provide opportunity to all those people who have some skills and talent but
never got the appropriate platform to attain their goals (Buathong & Lai, 2017).
Price
In order to attract larger group of audience towards the event conducted by the organization, fair
pricing strategy will be adopted. With the help of this strategy, prices for the tickets and passes
will be set to the average amount through which all types of consumer segments will be targeted
which will ultimately help the organization to boost up their revenues and profitability (Van der
Wagen & White, 2018).
Place/distribution
In relevance with targeting large number of audience, organization will host this big event at one
of the most visited places across the globe. Centralised location will play vital role in the success
of International Sports League with the objective of enhancing organizational image along with
gaining positive and desired goals (Ardolino, et. al., 2018).
Promotion
In relation to the marketing and promotion of International Sports League, organization will
mainly focus over digital mediums of promotion. As their primary target market segment are the

Entrepreneurship 9 | P a g e
people interested in sports, digital mediums will be the most appropriate options for spreading
awareness amongst them. Social media platforms like Facebook, Twitter, Instagram, Snapchat,
etc., email marketing, third party website promotion, search engines, and various other digital
marketing tools will be used for the purpose of promoting their new event (Leite, Pahlberg &
Aberg, 2018).
Along with the digital marketing tools, organization will also focus over traditional marketing
mediums such as television and newspaper as other tools of traditional media marketing will not
create much difference. Integration marketing communication tools will be other crucial
elements for the organization to promote their new idea in the target market with the objective of
gaining positive outcomes (Getz & Page, 2016).

Entrepreneurship 10 | P a g e
Financial Plan
Resource Requirements
Resource Amount ($)
Sports equipment
50,000.0
0
Stadiums
75,000.0
0
Labour
15,000.0
0
Office Staff
25,000.0
0
Working capital
35,000.0
0
Total 200,000.00
Austage Events: Sales Forecast for first year
Product Average price Total
Different sport
equipment 300,000.00 30,00,000
Stadiums, Power
backup 2500.00 25,00,000
Accessories 150.00 30,000
Total 55,30,000

Entrepreneurship 11 | P a g e
Austage Events
Profit & Loss Statement
Amount ($)
1st Year
Sales $5,530,000
Miscellaneous income $0
A. Total $5,530,000
B. Cost of Sales $2,212,000
C. Gross Profit (A-B) $3,318,000
D. Operating Expenses
Salary $40,000
Rent $12,000
Utilities $1,000
Insurance $500
Marketing $10,000
Maintenance & Repairs $5,000
Other $2,500
Total $71,000
Operating profit $3,247,000
Less: Interest $250
Profit before tax $3,246,750
Less: Tax @ 30% $974,025
Net Profit AT $2,272,725
Capital Risks
The major risk factors involved in this International Sports League will be the failure of the event
because till now, none event organisers have gone to this big level for organising a sports
tournament. Although, the idea is unique and it will provide chance to new talent through which
various countries will get the valuable and talented sports personalities which were hidden yet.
The cost of conducting this event is very high and with regards to this, organization will raise the