Submitted by: Submitted by brianj
Views: 376
Words: 4268
Pages: 18
Category: Business and Industry
Date Submitted: 04/29/2012 04:59 AM
Executive Summary
A Planned Affair is a full service, all inclusive events planning company. Our specialty is planning and executing weddings. Our mission is to provide elegant, organized, and stress free planning and execution of your event. Our operations will be based out the Central Florida region with the expectations of growth throughout the entire Florida region within 5 years. As weddings approach brides spend more time wedding planning. In the last 3 months leading up to a wedding brides spend an average of 11 hours per week planning. Nearly 50% also found that planning a wedding is more stressful than they had imagined. 1 in 3 hires or uses a wedding planner, with 52% hiring them for the day of coordination (XO Group.com 2011). Although there are many wedding planning companies in the area, none are all inclusive. Our model is, we employ everyone needed to make your event a success. Our primary targets are woman between the ages of 25 and 32. Studies have shown that the average age of brides are 29, with the average length of engagement being 14 months. We hope to gain a 5% to 8% market share in the first year of operation. We plan to have sales of $750,000 our first year and increasing to $1.2 million by the end of year 2. We plan to reach our breakeven point by the end of our 2nd year of operations.
Situational Analysis
A Planned Affair is a startup company born in a business class while pursuing an under graduate degree. Our all inclusive concept to event planning makes a new concept in the industry. We will employ everyone needed to plan and execute an event. We employ event planning coordinators, photographers, disc-jockeys, chefs, and catering staff. We also have a venue or we have relationships with many other venues to your liking. We provide everything needed for you have an event. You bring your vision or borrow one of ours and we bring the rest.
Market Summary
The wedding industry is said to be true recession proof...