Business Plan for First Choice Events: Event Management in Scotland

This report presents a detailed business plan for First Choice Events, an event management company based in Edinburgh, Scotland. The plan outlines the company's services, which include a wide range of events such as meetings, weddings, and cultural celebrations, with a specialization in Afro-Caribbean events. It discusses the company's marketing strategies, emphasizing performance-based approaches, networking, social media presence, and website utilization. The report also analyzes the company's sales, margins, and financial performance, providing insights into its startup costs and variable operating expenses. Furthermore, the plan highlights the company's future goals, including expansion to other Scottish cities and a commitment to providing excellent customer service through affordable services and personalized event planning.

Running head: BUSINESS PLAN FOR FIRST CHOICE EVENTS
BUSINESS PLAN FOR FIRST CHOICE EVENTS
Name of the Student
Name of the University
Author Note

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Executive summary
This report presents a business plan for a Scotland based event management company named
First Choice Events. It discusses the company’s services and the places where the company aims
to open its branches or spread by arranging events. It discusses the agency’s marketing strategies,
sales and margins and future assumptions and targets. The report concludes with the company’s
motto of reaching more people through trust and best service.

2BUSINESS PLAN FOR FIRST CHOICE EVENTS
Table of Contents
Introduction:....................................................................................................................................2
Company summary:.....................................................................................................................3
Services:.......................................................................................................................................4
Location issues:...........................................................................................................................5
Marketing strategy:......................................................................................................................6
Margin and sales..........................................................................................................................8
Important assumptions:................................................................................................................9
People:.........................................................................................................................................9
Conclusion:....................................................................................................................................10
References:....................................................................................................................................12

3BUSINESS PLAN FOR FIRST CHOICE EVENTS
Introduction:
The report analyses the business plan of an event planning company. It discusses the
important of a business plan to build a new business as well as run the agency. It conveys an
institutional framework to the business. A business plan is essential for the authority to focus on
the company’s objectives, service and most importantly the requirements of the clients (Raj,
Walters and Rashid 2017). The business plan is an over view of the current position of the
company in respect to the market trend. It is a kind of management tool that enables the company
to meet its goals as well as operational milestones.
The case study here is a Scotland based event management company named First Choice
Events. The company has its main office in the capital Edinburgh from where it operates. The
company serves for everyone but has expertise on Afro-Caribbean culture. Therefore, it is easy
for the agency to flourish in less competitive market of Scotland. The company has special
expert group for adding traditional touches in Afro-Caribbean events or weddings.
The report discusses about the company in brief, the services provided by them, the
places where the company has arranged events and aims to arrange in future. The discussion
provides complete information about the company’s sales and margins, the people connected
with it and effective marketing plans that helped the company to prosper and promised to make it
a most known company in Scotland.
Company summary:
First Choice Events is a small event management company operating in Edinburgh,
Scotland. The company combines traditional values with modern fashion thus leads the market
and provides supreme quality result, each time. First Choice Events provides expertise and

4BUSINESS PLAN FOR FIRST CHOICE EVENTS
products to their customers in such a way so that they can plan their own events. Complete party
kits, disposable themes, lighting effects and catering for all especially the Afro-Caribbean
community in Edinburgh at large Scotland (Deresky 2017). The clients can also get information
or even book from the official website. The company provides affordable services and products
with the help of event planning software that can interact and customize according to customer’s
requirements. First Choice Events aims to be one of the leading event management companies of
Scotland (Casper and Pfahl 2015). As the company specializes on the culture, society and food
habit of the Afro-Caribbean community, it is quite easy to expertise in this field. The company
attempts to be the first choice of the clients by helping to reduce the planning burden. First
Choice Events produces the same quality services and leave a lasting effect. For the company,
communication with the customers is essential which helps to complete a hassle free event
(Marcella and Rowley 2015). The company provides the employers a professional working
ambience and compensates the staffs, contracted vendors and sponsors. First Choice Events has
both internal and external clients to serve. The company ensures to serve the customers at a
reasonable price. The company also arranges accommodation for the clients and their guests in
luxurious hotels in Edinburgh city. The company fulfils the client’s desire consistently and
accurately at reasonable price as well as makes significant profit.
Services:
First Choice Events arranges various kinds of events throughout the year in Edinburgh and
guarantees contentment in the grounds of performance, selections and appearance. The company
plans-
o Meetings
o Retreats

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o trainings
o Workshops
o Conferences
o Birthdays
o Wedding ceremonies
o Anniversaries
o Receptions
o University Graduations
o Company or family picnics
o Holidays
o Banquets
o Award ceremonies
Beside these, First Choice Events plans for other cultural events and weddings especially for
the Afro-Caribbean communities as well as Scottish section (Hottle 2015). The company’s
website provides detailed information about the wide range of offerings of the company. It also
has software for event planning which allows the client to visualize the events arranged by the
company (Agamirova 2014). The software allows customizing or decorating themes, theme
music, designing thank-you, invitation cards and using calendar for interactive planning. The
cutting-edge technology helps the clients to arrange a successful event saving both time and
money (Getz and Page 2016). The software provides reviews for all the resources and services of
the company like decoration, catering, bands, facilities so that the customers can have freedom to
select the services according to their desire. The company provides complete party kit for every

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event so that the clients can plan a party themselves. This kit includes decorations, disposable
themes, lighting effects, theme music, punch mix (or recipe), food supplies (or recipe), plates,
cameras, cutlery, napkins, tablecloths, invitation cards, thank-you cards, and a step-by-step
handbook for planning, arranging and hosting an event (Geus, Richards and Toepoel 2016). This
guidebook includes a planning calendar and the method to arrange the whole thing by putting
together recipes, games, musicians, speakers, decoration even dresses ( where applicable).
Location issues:
First Choice Events is a home based event management company that works within the
city territory of Edinburgh, Scotland. The meetings of the executives with the clients are usually
conducted in a social setting like cafes, restaurants, client’s home and sometimes over phone.
The clients may visit the executives at the place where he wants the event to be arranged. As a
new start up enterprise, First Choice Events only has office at Edinburgh but gradually the
company will be opening branch offices in different cities of Scotland like Glasgow, The
Hebrides, Aberdeen, Stirling and Perth. The company will move from a home base into a large
office complex in the centre of the city. All offices will be well equipped with all technologies
needed for the business such as internet, computers, duplicators, printers, scanners, emails, fax
machines and developed software. The event venues have secured storage for the technical team
to work. They have different areas for supplies and apparatus used in the events like walkie-
talkies, cell phones, laptops, microphones and speakers. The company arranges musical bands
and dance troops in different cities according to the client’s desire. The company keeps detailed
information about the venues where the client wants to arrange it (Robertson, Junek and
Lockstone-Binney 2014). It finds venues for any events at negotiable rates. First Choice Events
finds high standard hotels for the clients to stay in other cities. The venues are booked

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provisionally so that the client has time to decide. Above all, the agency chooses the places that
fit best for the event as well as the customer’s requirement.
Marketing strategy:
The client base of the company is basically middle and upper middle class families,
individuals, couples. It has some private or public institutions of Scotland to cater so it needs to
analyze the market (Guerrón Montero 2015). In order to produce same results every time, the
company must understand the current trend and fashion therefore shape them according to the
customer’s needs and budget. The company’s goal is to organize worry free events for the
customers so that they can spend more time with their family and friends and enjoy (Haines
2016). The concept is to strengthen the bond with the client by freeing him from the tension and
it is the chief marketing strategy of the company. The marketing strategy is predominantly
performance based which includes visual and verbal connection to big events in which the
individuals have participated previously. In case of working with private or public organizations,
the chief concept is to execute the event more efficiently and professionally (Jones 2014). These
groups usually try to escape the tensions regarding the events, so they obviously opt for error
free event organizers, which appear to be the best choice. The strategies include networking or
referrals with more people. Event planners must be social by nature. Nurturing and building
relationships with other vendors to get reference is vital in this business (Lugosi 2014). The
company has good connections with renowned hotels in Scotland, which refers party clients to
the planners instead of which the company arranges charitable functions for the hotels. The
former clients are the best network to reach a new. Therefore, customer satisfaction is the chief
factor for the business to grow. The company has reputable and reliable references that help it
winning customer’s trust (Mason 2015). The company has well- developed connections over

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social media like Facebook and Instagram. First Choice Events has built up a fan page where has
got huge appreciation from friends, clients and networking partners. By posting in regular basis
has increased the rank as well as marketing. These social proofs have helped the company in
marketing over internet. The company also uses the official website as a strong marketing tool
(Masterman 2014). Beside these, it has driven visitors through Google Ads and Bing Advertising
to the website. The company has blogs that focus on company’s purpose, aspects and services. It
has boosted the organic search results of the events and acted as additional promoters. Event
planners of the company have utilized the email service for marketing and attracted the attention
of the new as well as existing clients. The existing clients get regular mail from the company so
that it can stay on the top of the mind and call for new event panning. The planners keep in touch
with referral and prospect partners and share the company’s expertise with them (Morris 2015).
The company passes information back and forth among the group members. First Choice Events
attend trade shows and wedding shows and interact with people among whom there can be a
perspective client or a group. The company decorates booths in the trade fairs and distributes
printed flyers as well as brochures. Sometime it performs individually or share stage with other
vendor to make people feel its prominent presence. It features guest speakers to speak for the
company’s offerings and create promotional, interesting piece for the company’s promotion
(Müller 2015). The venues where the company arranges events are part of its marketing plan.
The venue selection reflects the company’s status as well as taste. First Choice Events always try
to present the best experience to the customers. Had it been a professional workshop, or a
traditional Afro-Caribbean wedding, the company has its expert team who is well accustomed
and informed with the culture and provides service accordingly (Luonila and Johansson 2015).
As mentioned before, the company provides systematic guides for the clients, which ask for

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opinions and questions. These initiatives have made the company more engaging and
enthusiastic.
Margin and sales:
The company has been established on 2014. It had some start up costs. The following table
describes the company’s sales and margins in last three financial years.
FY
2014
FY
2015
FY
2016
Particulars Amount
Non-Current Assets:
Land 45000
Building & Improvement 70000
Furniture & Fixtures 150000
Computer, Electronic Equipment & Other
Accessories 850000
Motor Vehicles 400000
Preliminary Expenses:
Business Registration 15000
Land Registration 20000
Deposit for Electricity 7000
Deposit for Telephone & Internet 4000
Other Miscellaneous Expenses 55000
Working Capital:
Initial Promotion & Advertisement 50000
Wages & Salaries
100000
0
Power & Fuel 5000
General Administrative Expenses 250000
Total start up cost
292100
0
Variable operating expenses:

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Maintenance charges 10000 12000 15500
Electricity 75000 86000 97000
Power and fuel 34000 36000 45000
Cleaning charges 8000 8500 95000
supplies expenses 55500 60000 70000
Phone and Internet 7700 7900 8400
Wages & Salaries to Permanent Staffs 230000 245000 255000
Wages to Marketing Staffs 301200 303000 320000
Promotional & Advertising Expenses 49500 53000 72000
Depreciation on Kitchen Equipments &
Cutleries 60000 50000 60000
Depreciation on Motor vehicles 43000 45000 50000
Total Expenses 152500 906400
108790
0
Add margin @14% 21350 126896 152306
Total sales 173850
103329
6
124020
6
Expenses per Quarter 43462.5 258324 310052
Number of events 20 25 30
expenses per event 2173.13 10333 10335.1
Important assumptions:
The company had a loan burden from a traditional bank in the first year of establishment
but it has been paid back within few months. Therefore, the company has no loan burden. The
most affecting factor in gaining profit is the tax rate. The company’s expenses are quite
reasonable and do not hinder very much in company’s annual yield. The expense per event is
also supportive of company’s growth. As the company continues to develop, these factors will be
reference instead of influence. Overall First Choice event is growing and emerging as a leading
event management company in Scotland.
People:
First Choice Events has a number of stuffs working ethically and passionately
(Andersson, Getz and Mykletun 2014). The company has expert groups to coordinate and

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execute the events successfully. Its main branch of Edinburgh has an HR manager who recruits
staffs, solves problems and help in coordination among the departments. The company has a
board of directors who look into the administrative matters. The expert groups contain 23 event
planners, 15 event managers, 10 scheduling managers, 27 event coordinators, 11 event operation
managers, 5 box office managers and coordinators, 32 information agents, 10 marketing
managers, 13 special events supervisors handling the special events arrangement for Afro-
Caribbean community. The company previously outsourced expatriate event managers from
African countries, now it has its own skilled experts who have immense knowledge and interest
in the traditional weddings of Afro-Caribbean society (Guerrón Montero 2015). The company
needs more stuff in next financial year as it has been expanding in other cities. Additional 10- 12
staffs are needed in departments of decorating and catering, two more staffs to assist the guest
speakers, 3 florists and 1 ticket checker. The company needs two web designers and software
programmers to provide technical assistance. Other than these, the company needs its personal
musical band and photographers.
Conclusion:
Therefore, form the above analysis it may be concluded that First Choice Events is a
company that aims to serve its clients with best possible way. It is committed to share its
expertise and ardor for event and create long lasting bond with the customers. The company has
a batch of experts who are very much talented and passionate about the service. The quality of
service of the company is of international standard. The company is renowned for events on the
special ethnic group of Afro-Caribbean community. The company has its own event planners
having specialization on Afro-Caribbean wedding and their cultural programs. They have
expertise in planning for the people who desire for destination weddings in Scotland. The