Eventure (UK) Limited: Event Management Business Start-up Plan

This document presents a detailed business plan for Eventure (UK) Limited, a proposed event management start-up based in the UK. The plan includes an executive summary, outlining the company's mission to provide cost-effective event management services for various occasions, including weddings, parties, and corporate events. It details the company's objectives, market analysis, and strategic planning, including SWOT analysis, competitor analysis, and marketing strategies. The plan also covers management structure, financial projections, including start-up funds, break-even analysis, and projected financial statements, providing a comprehensive overview of the business's viability and potential for success. The plan emphasizes online marketing, customer satisfaction, and the importance of strong supplier relationships and innovative event concepts to build a successful brand and attract a wide customer base. The document is a comprehensive project that covers all the key aspects of launching and operating an event management business.

Event Management

TABLE OF CONTENTS
OBJECTIVES..................................................................................................................................1
MISSION.........................................................................................................................................2
COMPANY SUMMARY................................................................................................................3
Name and ownership..............................................................................................................3
Brand name.............................................................................................................................5
Nature of business..................................................................................................................6
Start-up Summary...................................................................................................................7
Table start-up..........................................................................................................................8
Chart start-up..........................................................................................................................8
Product and services range...............................................................................................................9
Musical concerts.....................................................................................................................9
MARKET ANALYSIS..................................................................................................................10
Market segmentations...........................................................................................................11
Online marketing..................................................................................................................13
Target market........................................................................................................................14
Service business analysis......................................................................................................14
Competitor analysis..............................................................................................................17
STRATEGIC PLANNING............................................................................................................18
SWOT Analysis....................................................................................................................18
Porter's five forces................................................................................................................19
Marketing strategies.............................................................................................................20
Sales Strategy.......................................................................................................................22
MANAGEMENT SUMMARY.....................................................................................................23
Human Resource Planning...................................................................................................23
FINANCIAL PLAN.......................................................................................................................24
Start-up funds.......................................................................................................................24
Break even analysis..............................................................................................................25
Projected profit and loss statement.......................................................................................25
Projected Cash flow statement.............................................................................................27

Projected balance sheet.........................................................................................................28
Financial analysis of business performance.........................................................................29
CONCLUSION..............................................................................................................................29
REFERENCES..............................................................................................................................30

EXECUTIVE SUMMARY
Event management is based on facilitating various services to all categories of celebrations.
There have been various operational activities in an event management organisation which are
needed to be executed and managed by the professionals at the firm. Eventure (UK) Limited is
planning to launch a business start-up which will be helpful in terms of facilitating the best event
management in the society. The main motive of the unit is to facilitate the most fruitful
experiences of the events as well as at very cost convenient prices. in terms of launching the
business in the market and facilitate booking services. It is necessary to have the internet
operations as consumers preferring the online market segmentation more than go and deal
physically with entity. Here, the managerial professionals have planned to make investment of
200000 as introducing the capital of the business. There will be assumed that 21,500 are the
normal start-up expenses on which the firm has assets of 178500. Further, it has been decided by
the professionals that there will be arrangement of services for all the categories of individuals
on the society such as kids, youngsters, adults and senior citizens. Therefore, the motive behind
such planning is to satisfy all the consumers with appropriate management of events. In
consideration with developing the firm over online segmentations, there will be requirement of
having the appropriate event planning softwares which will be beneficial to have the appropriate
booking. In terms with organising the concerts, award ceremonies and corporate parties, there is
need to have a proper selection of conference rooms, gardens, hotels and restaurants which will
be the best fit in terms of costs and revenue gathering.
Highlights:

2018 2019 2020
0
100000
200000
300000
400000
500000
600000
Sale revenue
Gross profit
net profit

OBJECTIVES
Eventure (UK) Limited is planning to launch a business start-up which will be helpful in
terms of facilitating the best event management in the society. The professionals at this industry
are planning to implement various product and services such as wedding planning, event
planning, new launch of any business, parties, get together etc. (Event Planning, 2018). They
have planned various ways and methods to present the fruitful dealings among the professionals.
The distributors of the firm are to be decided by the professionals which are mainly the retailers,
online market as well as various Hotels and Restaurants in the UK.
On this preparatory stage it can be said that there is need to make the adequate analysis
over the market and the current needs and wants of the consumers. However, in the current
market scenario is that there many of people like to have huge celebrations of personal moments
such as birthdays, weddings, business lunch, New Year celebration, Christmas celebration etc.
Therefore, here the managerial professionals have planned to organise various operations of the
business as well as planning to attract consumers (Shukla, 2018). In context with the Product and
services there are several categories of different Product and services which are relevant with the
facilitating the adequate celebration and memorable events for the consumers and for the guests
who attend the party. However, it has been estimated by the professionals of this entity that in
the upcoming years, the business will have the appropriate increment in the product and services
as well as revenue generations. Therefore, there are several objectives of Eventure (UK) Limited
such as:
 The aim of entity is to achieve the large success in consideration with making the
appropriate sales of Product and services and satisfying the large numbers of consumers.
 They have estimation and plan to achieve the 10% increment in the annual turnover of
the business on the basis of year on year.
 The aim is to have the appropriate numbers of businesses in UK and all were well
management and efficient in terms of acquiring the adequate profitability.
 Executing the business in right manner so it will be beneficial in terms of having the
proper revenue generation as well as appropriate numbers of investors who will be
helpful in rising the market value of entity (Doppelt, 2017).
 Attracting the large numbers of consumers to have the memorable experience of such
events, parties and celebrations.
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 The plan to have the expansion of the business operations throughout UK as well as out
of the national boundaries.
 Promoting the business over online retailers and have the appropriate collaborations with
the various online giants such as eBay, Amazon, Flip-kart etc. who will be better
distributors of these products and services and it will be convenient for the consumers to
place the order and analyse the package of the events they would like to have.
MISSION
Eventure (UK) Limited is planning to initiate the business for serving the society with the
beneficial experience of the Events such as marriage, musical concerts, birthday parties etc. The
managerial professional of this firm are planning to have operations in UK and are highly
committed towards the aims and targets of the business.
The main mission is to facilitate society and mankind a numerous experience of enjoying
events held in the country on the basis of various moments. The main motive of the industry is to
facilitate the most fruitful experiences of the events as well as at very cost convenient prices.
However, the launch of various categories of Product and services which will be helpful in terms
of attracting the large numbers of consumers as well as profitable in revenue generation for the
business. There have been plans for proper catering services which will have the packaging and
distribution of the Product and services are in consideration with proper hygiene and protection
from the various infections and viruses (Marano, Henthorne and George, 2017). The managerial
professionals are planning to services in accordance with the buyer's desires and cost effective
manner. The plan is to have the adequate revenue from such Product and services as well as
setting the prices which will be budgeted for consumers.
Therefore, there are several planning of the professionals in accordance with attaining the
adequate success through industrial operations such as:
 Strong base: This has been decided and planned by professionals at Eventure (UK)
Limited to have the proper funding as well as appropriate sources of material (Hopkin,
2017). The strategies belong to the appointment of adequate numbers of employees,
suppliers and distributors, agencies and retailers who are the main part of the business
operations.
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 Online base: In terms of launching the business in the market and facilitate booking
services. It is necessary to have the online operations as consumers preferring the online
market segmentation more than go and deal with the entity. So, it will be beneficial for
them as to have the adequate numbers of orders and revenue generation (McKenzie,
2017). In addition to this they has to have the appropriate collaborations with appropriate
numbers of suppliers who will make it as a successful deal for them. The online booking
of the events will be beneficial as the can have prompt reactions over their packages.
 Packaging: It is to be considered and planned by the professionals that all the goods are
to be pack with proper hygiene and use of healthy material in packing the Product and
services (Adi, Riptanti and Irianto, 2017). Therefore, it will be relevant with the catering
services offered in the organised events such as Wedding, Birth days etc. it should be
considers and proper hygiene will be acknowledged.
 Managing teams and leaders: To have the successful business operations for the long
period it is necessary to have appropriate management of the operations to be done
(Carlsson-Wall, Kraus and Karlsson, 2017). There will be appointment of qualified,
skilled and experienced managers to perform their duties.
 Relationship management: In order to have the long term business operations there is
need to have appropriate relationships and connections with the suppliers, distributors,
employees and consumers (Saxena, 2017). Therefore, it will be helpful in survival as well
as succession of the industry.
COMPANY SUMMARY
Name and ownership
To initiate the business operations, it has been planned that Eventure (UK) Limited will
be functioning in England, Northern Ireland, Scotland and Wales and which will have head
office in Liverpool. However, it will be beneficial for the development of the operational
activities of this Event management industry (Susilowati, Utomo and Setiawanta, 2017). The
execution of activities will be managed by various key people of the business which includes
operational mangers, departmental head, chairperson, board of directors and supervisors over
employees.
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On this preparatory stage, the initial amount to be invested by the professionals is
£200000 which will be used as the initial capital amount and it will be utilised by them in
operating business activities (Laudon and Laudon, 2017). Therefore, it is to be assumed by the
professionals that they will go to have a 10% increment in revenue every year. In these regards
they have various strategies and planning for the online business. There are plans for developing
the online trade practices such as booking services in the market which will be operated by
various skilled and talented professionals in the field of E-commerce, marketing, IT and MIS
skills.
Why Event management services?
To have the operations of the business in organising and facilitating the most adequate
event management services is because these are various rivalries are available in the market and
which are offering the same level of product and services and which have fewer effects and
experience in the consumer mind. In the current scenario there has been implication of various
chemicals while preparing the dishes and huge charges has been levied by the event management
firms on various services so the plan is to bring the appropriate services to the consumers is quite
essential. (Mullins, 2017). Therefore, in many of cases bed outcomes and dissatisfaction in the
mind of consumers to have a fruitful event services. So to help the people in society it is
necessary that they must implicated the use of natural and fresh ingredients in the preparation of
the foods and dinner with proper consideration of the health and hygiene of the consumers. There
has been various plans for kids in terms of their first birthday celebrations there will be facilities
of playing props, pupate shows and costume challenges (Branagan, 2017).
However, in terms with operating the business it can be said that there will be
arrangement of various event service such as selection of locations, planning the concrete theme,
arrangement of marriage schedule and birthday parties but with consideration of not damaging
the environment as well as making the ecological balance in the environment (Schramm, 2018).
There will be plan to have the appropriate collaborations with the suppliers and distributors and
the selection of locations which will be far from the residential area or at adequate places. In
consideration with making the appropriate and memorable events there will be need to have the
unique and innovative ideas which will be helpful for the business in terms of creating the unique
brand image as well as attracting the large numbers of consumers.
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The business will have collaborations with the big event organisers in UK to have the
best business ideas as well as monitoring of the adequate work. Therefore, there will be several
units which will be helpful for the Eventure, to have the successful business operations such as:
Eurosonic Noorderslag, London Summer Event Show and EVENTEX are the brands which will
be very helpful and profitable in terms of serving the best services to the society (Shukla, 2018).
The selection of these suppliers is on the basis of facilitating the most suitable and effective
services in the market as well as having the positive responses from the consumers of the
business. The managerial professionals at Eventure (UK) Limited has planned to have better
operational activities in the UK market which delivering the most satisfactory level services and
experiences to the consumers.
Brand name
The business will operates in various services organising the marriage events, birthdays,
concerts as well as various parties which are to be known as unique name Eventure services.
However, there will be various plans and operations which are part of the packages offered by
the professionals in this business segmentation such as:
Musical concerts: In accordance with making the adequate arrangements for the
development of plans for musical events, there will be need of appropriate locations, musician,
proper lightening and sound services (Reymen and et.al., 2017). There will be need to have the
appropriate space and arrangement which will help in arranging the appropriate numbers of
audience in one location.
Wedding planning: In terms with making the adequate plans for the wedding events
there is need to have the adequate plans such as analysing the time frame, necessary
arrangements for the numbers of guests from both the sides such as groom and bride, deciding
the packages and arrangements in accordance with the budgets of such individuals (Doppelt,
2017). On the other side for the catering staff, there will be need of having the effective chefs,
numbers of staff as well as analysing the suppliers who will deliver the ingredient at very cost
effective deals as well as in better quality.
Birth-day Celebrations: There have been various plans for all categories of consumers
like for kids there will be arrangements of various toys and decoration of site will be helpful in
terms of attracting the kids and enjoying the moment. For the adults there will be arrangements
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of DJ's, Discs and various games which will help them in having fun and enjoy the moment. In
accordance with the birthdays of seniors of the organisation there will be need to have proper
decoration with pleasant environment as well as arrangement of soft music (McKenzie, 2017).
Therefore, these are the average requirements of every individual which are on the basis of
consumer requirements. The strategies and plans will be modified in accordance with buyer's
preferences and choices.
Annual meet of organisations: There have been necessary arrangements for the annual
meetings of various organisations. It will include the parties, award ceremonies, cocktail parties,
corporate functions, grand opening of business, retirement parties, trade shows, meetings etc. are
being decided by the managers in the organisation (Carlsson-Wall, Kraus and Karlsson, 2017).
This planning and strategies need to be very innovative and unique on which various
corporatization will get attracted towards such operations.
Nature of business
The entity is planning to promote event services in terms of facilitating the adequate
hygienic and healthy environment to any event. Therefore, it can be said that there will be use of
good quality of material and ingredients while preparing the dishes for such events. The main
motive is to facilitate the best quality and quantity of services with appropriate costs. In
accordance with launching the business over retails and online segmentation there will be
requirement of appropriate amount of funds for such operations (Laudon and Laudon, 2017).
Therefore, the motive is to serve the nation with best of quality of event services which will have
positive results as well as satisfying the consumers with appropriate goods. Eventure (UK)
Limited has planned to satisfy all categories of buyers such as kids, youngster and old citizens in
the country. They have focused over satisfying all the categories of consumers as well as making
the adequate satisfaction to them.
However, the motive of this business is to facilitate the best events with proper packages
at very convenient prices which will be affordable for the consumers as well as profitable for the
entity. Therefore, it can be said that with the use of such services on which the business will be
beneficial in terms of having the appropriate revenue generation which in effective in gathering
the large numbers of stakeholders (Adi, Riptanti and Irianto, 2017). The disclosure of the
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financial statement will be presented over the online site of the business on the periodical basis
which will be helpful in attracting them and gaining the appropriate capital investments.
Illustration 1: Operational motive
(Source: Reymen and et.al., 2017)
Start-up Summary
To initiate the industrial operations there will be requirement of the adequate amount for
the operations. Here, the managerial professionals have planned to make investment of 200000
as introducing the capital of the business. Therefore, there will be requirement of funds which
will be more than the expected expense of the business (Saxena, 2017). Thus, the managers as
analyse requirements of funds as well as availability of the resources for the business operations.
However, there will be assumed that 21,500 is the normal start-up expense on which the firm has
assets of 178500.
In addition to this it is to be assumed that there will be requirement of 85000 as cash in
hand which will be beneficial and appropriate to meet the daily operational requirements of the
business. It is to be suggested to the managers that they must consider the costs and expense
incurred while organising the product and services for consumers (Susilowati, Utomo and
Setiawanta, 2017). There should be proper management of funds, records of transaction on the
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