UMCD9Q-30-3 Enterprise Project: Wedding Company Business Plan

This document outlines a comprehensive business plan for a wedding company in Malaysia. It begins with an analysis of the wedding industry's growth and opportunities, emphasizing the role of millennials and the impact of social media. The plan details the proposed wedding company's services, including event planning, vendor coordination, and online platforms. It highlights the company's value proposition, competitive advantages, and target customer segments, including young couples and clients with varying budgets. The business model is described through key partners, activities, resources, and customer relationships. The plan also covers cost structures, revenue streams, and marketing strategies, including social media engagement. The plan aims to leverage personalized services, changing customer demands, and effective human resource management to gain a competitive edge in the market. The financial aspects include details on revenue streams from various packages, customized events, and matchmaking services. This project was completed for an Enterprise Project module, as part of the UMCD9Q-30-3 curriculum.

Section 1: The Business
Opportunity
Malaysia is a growing economy and provides considerate opportunity to various
businesses to open their ventures in the country. Hence, the wedding industry has been opted for
in this report. The wedding industry in Malaysia is one of the fastest growing industries which
earns up to RM7 billion in one year. In association with this, it is critical to mention that the
industry serves about 300000 couples in the country who try the knot in the country annually and
hence, the millennials are the biggest contributors to the market share. The changing trends and
the emergence of the social media have provided various entrepreneurs to invest in this business.
The wedding planning services comprises of decorative venues, decorations, social media live
updates and other such events. Although many couples plan their own wedding, however,
coordination is an important part of a wedding and requires extra attention and this is where the
role of the wedding coordination comes into place. Other change of events which are crucial in
association with this can be referred to as the smoothness of movement, crowd management, low
key exclusive parties and others. The weddings are much more than themed decorations which
appear more frequently but are also aimed to be involved in guest participation and
performances. The budgets are as per the budgets of the clients. Every year there are various
wedding exhibitions laid up where the businesses promote their portfolio to the visitors.
Description of the service
The wedding business which is being discussed in this report refers to the idea of a
Wedding company in Malaysia. The aim of the business is to give competition to the other
existing wedding planning companies which are present in Malaysia. In addition to engaging in
providing various wedding services like Propose event and a matrimonial procedure, the
business shall also provide the different participants who want to engage in the business of the
firm with an opportunity to gain a videographer, photographer, live band, emcee, bridal makeup,
instant printing service, magic show and other crowd engagement services. The business will
have an online website which will help the firm in functioning and engaging in orders online. In
association with this, it becomes critical to mention that, the firm aims to use the social media as
a tool to target the customers.
Value proposition
The firm will be offerings be priced moderately and high quality services will be
provided. As the firm wants to compete with the current businesses offering the service which
will be provided by the enterprise will comprise of competitive pricing strategies. Hence, the
millennial couples who are on a strict budget will be able to experience a good private and
customized wedding ceremony.

Description of the business model
Key Partners
Music bands
DJs
Wedding
Photography
Hair and makeup
artists
Flower shops
Security services
Free-lance
designers
Location centers
Catering and
restaurant services
Key Activities
Customer
relationship and
networking
continuity
Institute of
partners and other
relevant families
Participation in
wedding functions
and fairs along
with organization
of wedding
activities.
Value
Proposition
The enterprise is
present with the
families before
and after the
wedding.
The enterprise
offers various
wedding packages
which are
affordable yet
attractive.
The wedding
enterprise looks
out of invites and
other
communication
records.
Offers wedding
ceremonies and
arrangements at
adequate
locations.
Customer
Relationships
The wedding
company
maintains
adequate
relationships
through personal
assistance before
and during the
wedding
Moreover, as the
firm is managed
by experienced
managers, the
customers can
assure a good
time.
The firm will
offer anniversary
gifts to the
different
customers.
Customer
Segments
.
The customer
segments which
are essentially
served by the
enterprise can be
mentioned to be
as follows:
Young couples:
The young
couples often
have fancy ideas
which need
assistance.
Low budgeted
clients: Some
clients just require
coordination
activities which
are essential to be
conducted by the
enterprise.
Star weddings:
The company will
Key Resources Channels

Employees
Infrastructure
IT
Patents
Relationships
with the different
parties
Location partners
Dancers and
musicians
Access to finance
Online channels:
Pinterest
Facebook
Instagram
Bloggers
These are some of
the online
channels as
utilized by the
enterprise for its
overall welfare
activities.
The firm can also
be found on
Wedding journals
and Magazines
which will help in
portraying the
services provided
by the firm
The enterprise
will offer
considerate
marketing
activities and take
regular follow up
of the clients
also engage in star
weddings with
exceptionally high
budgets.

Cost Structure
The cost structure which is essentially made use
of by the enterprise in carrying out the different
activities can be mentioned to be as follows:
Fixed costs
Infrastructure expenses
Employee expenses
Office expenses
Maintenance charges
Variable costs
Location costs
Staff expenses
Extra services costs
Distribution expenses
Revenue Streams
The different revenue streams as incurred by the
enterprise can be essentially mentioned to be as
follows:
1. Advertisement costs relating to the
various partners and related channels
2. Revenue from various packages such as
the Basic package, eating services,
additional facilities and transportation.
3. Customized events
4. After wedding and brunch facilities
5. Match making services
Competitive advantage
The competitive advantage which the business aims to harness can be mentioned to be as
follows:
1. Higher demand for personalized wedding ceremonies: The demand for the
personalized wedding services has been increasingly considerably and in association with
this, it can be considered relevant that by providing the personalized services the
competitive advantage of the firm will improve.
2. Changing demand from millennial customers: As the demand relating to the millennial
customers has been increasing to a greater extent, this shall act as a competitive
advantage for the firm.
3. Human resource management of the firm is very effective: This will help in
undertaking effective client relationships which shall assist in increasing brand name.

4. The firm has adequate access to resources: This allows them to take up various
services and offer good quality services
5. The social media planning of the firm is very strong: This assists them to promote
their business and attain a larger client base.