Wed Planner

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    INDUSTRY ANALYSIS

    A wedding for an Indian is probably the biggest and most serious event in his or her lifetime;

    everyone is trying to outdo each other. With the property and stock boom, India has seen new

    generation of millionaires coming up and the lavishness that they indulge in weddings is just

    mind-blowing. Indian weddings are getting bigger and better. Currently, the Indian wedding

    industry is over Rs 100,000 crore and is growing at 25 to 30 per cent annually. With each

    passing year; Indian weddings are getting bigger and better offering lucrative business

    opportunity to players involved. While this industry is still evolving, Indian event managersand wedding planners have clearly demonstrated their capabilities in successfully managing

    several big fat weddings and mega national and international events over the past few years.

    Giving up the basic traditional look, the Indian weddings are donning a more corporate look.

    With rising incomes, people are also spending more on wedding, parties and other personal

    functions. In India, people have become very style conscious and they want to give their best

    on their wedding and other events.

    INDUSTRY DEMAND

    Currently, the country has a population of around 1.25 billion and considering an average

    family with five members, there are around 250 million families in India. With about one

    marriage per family every 20 years, the country averages roughly 10 million marriages every

    year. It is also expected; the per capita income will be tripled in a couple of decades and the

    per capita consumption during weddings or otherwise will increase. With half of Indias

    population being under 29 years of age, the marriage market is set to boom like never before

    over the next five to ten years.

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    SOME STATISTICS ABOUT INDIAN WEDDING MARKET

    No. of Indian marriages in a year: Approx 1,00,00,000 Indian wedding market worth: Rs 100,000 to Rs 110,000crore Gold and diamond jewellery market worth: Rs 60,000crore Apparel market (wedding) worth: Rs 10,000crore Durable goods market worth: Rs 30,000crore Hotel and other wedding related market worth: Rs 5,000crore market Pandal and venue decoration market: Worth Rs 10,000crore Favourite honeymoon destinations: Goa, Jaipur and Udaipur Goa wedding cost: Between Rs 1crore to 1.5crore Jaipur wedding cost: 1 to 2crore Wedding cost in metropolitan cities: Between Rs 25lakh to 70lakh Wedding invitation card market : Worth Rs 10,000crore annual Bridal Mehendi market in India: Worth Rs 5000crore

    Item-wise approximate expenses on Indian weddings:

    Dinner cost: Rs 200 to 1000 per person Pandal decoration cost: Rs 10,000 Bridal designer sarees/lenhga cost: Between Rs 10,000 to 50,000 Designer shervani cost: Rs 15,000 to Rs 40,000 Wedding invite cost: Rs 500 to Rs 1500 per card Bridal make up cost: Between Rs 5000 to Rs 50,000 Bridal Mehendi cost: Between Rs 1000 to Rs 5000

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    Inspire Consultants is a full service company that provides complete

    consulting services for weddings, birthday parties, anniversaries and other such events.

    Inspire is unique in that we give our clients our undivided attention. We listen to their

    needs and work with them to cater the event of their dreams. Our clients' wishes become

    our commands. Our services include weddings, receptions, birthday parties and

    anniversary consultations as well as full-service referrals to florists, musicians, etc. Our

    company will be leader in both the client service and professionalism. We will offer the

    best value added planning experience in our market, allowing controlled and sustainable

    growth.

    InspireWedding planner and event coordinator

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    1.1 PROMOTORS INFORMATION

    All the three promoters being the business student have good knowledge about the business

    management. Knowledge, negotiation skills, glamour and hard works are the other skills

    which will help to achieve great heiths.

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    1.2 FORM OF OWNERSHIP

    Inspire will start out as a simple proprietorship, owned by Jainam Shah, Rachna Mehta andYogesh Tekwani. The company founders, with aforementioned personnel plan, will handle

    day-to-day operations of the plan and will work collaboratively to ensure this business

    venture is a success.

    1.3 MISSION AND VISION

    OUR VISION

    To be a top-of-mind events management team in the country by providingoutstanding

    personalized quality service, innovative ideas, and unwavering dedication in an effort

    to give our clients the kind of service needed to meet their objectives.

    OUR MISSION

    To deliver the clients' message to the public's consciousness through events that

    target specific demographics, fulfills marketing requirements and improves customer

    relations.

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    1.4 DESCRIPTION ABOUT PRODUCT AND SERVICES

    Inspire will offer the best service in the industry. We will have a large network of vendors to

    ensure each and every client need can be satisfied. We will have professional managers and

    staff members who will interface with clients to ensure expectations are exceeded.

    Additionally, equipment (e.g. banquet, tables and chairs, etc) will be purchased, as cash flow

    allows, increasing our profit margin. This will not increase our profitability for each event,

    but will also allow us to provide greater value by renting the products slightly below market

    price. We will hire independent contractors to staff various events. The managers and staff

    members will enhance the overall service experience, creating happy and loyal clients. Unlike

    most of its competitors, Inspire Consultants will be offering a full range of services and thus

    provide the convenience of one-stop service for its clients. This will significantly reduce thecustomers' time and efforts preparing for such an important event as a wedding. Moreover, by

    utilizing numerous supplier contacts that the company owners have established and

    economies of scale, Inspire Consultants will be able to pass on to its customer sizable cost

    savings.

    1.4.1 WEDDING:

    There are two main service categories for wedding planning:

    Full service wedding planning services- the wedding planner is tasked withorganizing the entire wedding, from start to finish.

    Day of wedding planner- the wedding planner is tasked with only handling theday of responsibilities, such as making sure vendors are in place and the wedding

    activities are flowing smoothly throughout the day.

    For each service category, we need to have a broad range of vendors who can provide a

    number of different services. These services can include:

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    VENUE OPTIONS MANDAP/WEDDING DISC JOCKEY OR

    STAGE DECOR LIVE BAND

    WEDDING THEME JEWELLERY ACCOMODATION

    VIDEO AND STILL LIMOUSINE CATERING

    PHOTOGRAPHY

    MEHENDI / HEENA TRANSPORTATION WEDDING CAKE

    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    FLORAL DCOR PRIEST / BISHOP / LIGHT

    MOLVI DECORATIONS

    WEDDINGINVITATION HONEYMOON PACKAGES

    http://www.google.co.in/imgres?imgurl=http://4.bp.blogspot.com/_nG3PgLG0wOQ/S8QrrIUxY7I/AAAAAAAAANU/xy9tnLmklnc/s1600/honeymoon_logo.jpg&imgrefurl=http://ismalriaent.blogspot.com/2010/04/honeymoon-package-at-langkawi.html&usg=__mJ2u2U79dMnIOjDgj9NJVuQLHoo=&h=300&w=400&sz=16&hl=en&start=6&zoom=1&itbs=1&tbnid=-W1zvOpTxMClQM:&tbnh=93&tbnw=124&prev=/images?q=HONEYMOON+PACKAGES&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://media.onsugar.com/files/ons3/628/6286643/47_2009/c256cf13e4c8af07_wedding_invitation_design_01.jpg&imgrefurl=http://bestdreamwedding.onsugar.com/date/2009/11&usg=__6qEdN4Jyr7ia9w5tVLlNk-gn0ZY=&h=453&w=450&sz=52&hl=en&start=4&zoom=1&itbs=1&tbnid=ZNW7xIcewHOZfM:&tbnh=127&tbnw=126&prev=/images?q=wedding+invitation+designs&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://4.bp.blogspot.com/_nG3PgLG0wOQ/S8QrrIUxY7I/AAAAAAAAANU/xy9tnLmklnc/s1600/honeymoon_logo.jpg&imgrefurl=http://ismalriaent.blogspot.com/2010/04/honeymoon-package-at-langkawi.html&usg=__mJ2u2U79dMnIOjDgj9NJVuQLHoo=&h=300&w=400&sz=16&hl=en&start=6&zoom=1&itbs=1&tbnid=-W1zvOpTxMClQM:&tbnh=93&tbnw=124&prev=/images?q=HONEYMOON+PACKAGES&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://media.onsugar.com/files/ons3/628/6286643/47_2009/c256cf13e4c8af07_wedding_invitation_design_01.jpg&imgrefurl=http://bestdreamwedding.onsugar.com/date/2009/11&usg=__6qEdN4Jyr7ia9w5tVLlNk-gn0ZY=&h=453&w=450&sz=52&hl=en&start=4&zoom=1&itbs=1&tbnid=ZNW7xIcewHOZfM:&tbnh=127&tbnw=126&prev=/images?q=wedding+invitation+designs&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://4.bp.blogspot.com/_nG3PgLG0wOQ/S8QrrIUxY7I/AAAAAAAAANU/xy9tnLmklnc/s1600/honeymoon_logo.jpg&imgrefurl=http://ismalriaent.blogspot.com/2010/04/honeymoon-package-at-langkawi.html&usg=__mJ2u2U79dMnIOjDgj9NJVuQLHoo=&h=300&w=400&sz=16&hl=en&start=6&zoom=1&itbs=1&tbnid=-W1zvOpTxMClQM:&tbnh=93&tbnw=124&prev=/images?q=HONEYMOON+PACKAGES&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://media.onsugar.com/files/ons3/628/6286643/47_2009/c256cf13e4c8af07_wedding_invitation_design_01.jpg&imgrefurl=http://bestdreamwedding.onsugar.com/date/2009/11&usg=__6qEdN4Jyr7ia9w5tVLlNk-gn0ZY=&h=453&w=450&sz=52&hl=en&start=4&zoom=1&itbs=1&tbnid=ZNW7xIcewHOZfM:&tbnh=127&tbnw=126&prev=/images?q=wedding+invitation+designs&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://4.bp.blogspot.com/_nG3PgLG0wOQ/S8QrrIUxY7I/AAAAAAAAANU/xy9tnLmklnc/s1600/honeymoon_logo.jpg&imgrefurl=http://ismalriaent.blogspot.com/2010/04/honeymoon-package-at-langkawi.html&usg=__mJ2u2U79dMnIOjDgj9NJVuQLHoo=&h=300&w=400&sz=16&hl=en&start=6&zoom=1&itbs=1&tbnid=-W1zvOpTxMClQM:&tbnh=93&tbnw=124&prev=/images?q=HONEYMOON+PACKAGES&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://media.onsugar.com/files/ons3/628/6286643/47_2009/c256cf13e4c8af07_wedding_invitation_design_01.jpg&imgrefurl=http://bestdreamwedding.onsugar.com/date/2009/11&usg=__6qEdN4Jyr7ia9w5tVLlNk-gn0ZY=&h=453&w=450&sz=52&hl=en&start=4&zoom=1&itbs=1&tbnid=ZNW7xIcewHOZfM:&tbnh=127&tbnw=126&prev=/images?q=wedding+invitation+designs&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://4.bp.blogspot.com/_nG3PgLG0wOQ/S8QrrIUxY7I/AAAAAAAAANU/xy9tnLmklnc/s1600/honeymoon_logo.jpg&imgrefurl=http://ismalriaent.blogspot.com/2010/04/honeymoon-package-at-langkawi.html&usg=__mJ2u2U79dMnIOjDgj9NJVuQLHoo=&h=300&w=400&sz=16&hl=en&start=6&zoom=1&itbs=1&tbnid=-W1zvOpTxMClQM:&tbnh=93&tbnw=124&prev=/images?q=HONEYMOON+PACKAGES&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://media.onsugar.com/files/ons3/628/6286643/47_2009/c256cf13e4c8af07_wedding_invitation_design_01.jpg&imgrefurl=http://bestdreamwedding.onsugar.com/date/2009/11&usg=__6qEdN4Jyr7ia9w5tVLlNk-gn0ZY=&h=453&w=450&sz=52&hl=en&start=4&zoom=1&itbs=1&tbnid=ZNW7xIcewHOZfM:&tbnh=127&tbnw=126&prev=/images?q=wedding+invitation+designs&hl=en&gbv=2&tbs=isch:1
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    1.4.2 BIRTHDAY PARTIES:

    Rs 15000/- Rs 25000/- Rs 45000/-

    Balloons: 500 Balloons

    Gate, Cake table decor,

    Balloon Bunches, Cut-outs5.

    Entertainment: Tatoo

    maker, Mickey-Donald,

    Magic Show, Gamecoordinator & mini DJ.

    Game: Ring Hoopia

    Decor: Balloons 1500:

    Balloons Gate, Balloons

    Bunches, Cake Table Decor,

    Return Gift Table Decor, Cut

    outs-10.

    Game: Feed the clown &Shooting Gun.

    Entertainment: Tatoo

    Maker, Mickey-Donald,

    Magic Show, Game

    coordinator & mini DJ.

    Decor: Balloons 2000:

    Balloons Gate, Cake Table

    Arch, Balloons Pillars,

    Balloons Bunches.

    Theme According Party

    Demand: Cut outs 10,Buffet, Cake Table &

    Return Gift Table covered

    With Theme Banners

    Backdrop with Child Photos,

    Return Gift House, Birthday

    Message Board, Welcome

    Birthday Board.

    Games: Bouncy, Ring

    Hoopia, Shooting Gun, Feed

    the Clown.

    Entertainment: Tatoo

    Maker, Face Maker, Mickey-

    Donald, Magic Show, PuppetShow, Game coordinator &

    mini DJ.

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    1.4.3 MACHINERY AND INSTRUMENTS

    COMPUTER

    TELEPHONE

    DIGITAL CAMERA

    http://www.google.co.in/imgres?imgurl=http://www.snsfox.com/wp-content/uploads/2009/04/canon-eos-rebel-t1i-slr-camera.jpg&imgrefurl=http://www.snsfox.com/digital-camera/canon-eos-rebel-t1i-slr-digital-camera/&usg=__ute_TX8pFZUk21mgTbyDgXutSVk=&h=600&w=654&sz=65&hl=en&start=12&zoom=1&um=1&itbs=1&tbnid=uKcQfiftNqS4kM:&tbnh=127&tbnw=138&prev=/images?q=DIGITAL+CAMERA+SLR&um=1&hl=en&sa=G&rlz=1W1ADBF_en&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://www.buymebuyme.com/retail/skin1/prodimages/44476.jpg&imgrefurl=http://www.buymebuyme.com/retail/catalog/product_44205_GE_29451A_4Line_Business_Telephone.html&usg=__7pGS0q_5PuOY4Qs3i__v0xVyPv0=&h=500&w=500&sz=32&hl=en&start=18&zoom=1&um=1&itbs=1&tbnid=kqu5oIdLMvyfvM:&tbnh=130&tbnw=130&prev=/images?q=TELEPHONE&um=1&hl=en&sa=N&rlz=1W1ADBF_en&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://bplteensofwa.files.wordpress.com/2009/07/computer.jpg&imgrefurl=http://bplteensofwa.wordpress.com/2009/07/&usg=__xjlBOZI8_TdDShjYFMqPtsnO-jk=&h=1024&w=965&sz=63&hl=en&start=2&zoom=1&itbs=1&tbnid=MhCDI1g3E7P7tM:&tbnh=150&tbnw=141&prev=/images?q=computer&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://www.snsfox.com/wp-content/uploads/2009/04/canon-eos-rebel-t1i-slr-camera.jpg&imgrefurl=http://www.snsfox.com/digital-camera/canon-eos-rebel-t1i-slr-digital-camera/&usg=__ute_TX8pFZUk21mgTbyDgXutSVk=&h=600&w=654&sz=65&hl=en&start=12&zoom=1&um=1&itbs=1&tbnid=uKcQfiftNqS4kM:&tbnh=127&tbnw=138&prev=/images?q=DIGITAL+CAMERA+SLR&um=1&hl=en&sa=G&rlz=1W1ADBF_en&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://www.buymebuyme.com/retail/skin1/prodimages/44476.jpg&imgrefurl=http://www.buymebuyme.com/retail/catalog/product_44205_GE_29451A_4Line_Business_Telephone.html&usg=__7pGS0q_5PuOY4Qs3i__v0xVyPv0=&h=500&w=500&sz=32&hl=en&start=18&zoom=1&um=1&itbs=1&tbnid=kqu5oIdLMvyfvM:&tbnh=130&tbnw=130&prev=/images?q=TELEPHONE&um=1&hl=en&sa=N&rlz=1W1ADBF_en&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://bplteensofwa.files.wordpress.com/2009/07/computer.jpg&imgrefurl=http://bplteensofwa.wordpress.com/2009/07/&usg=__xjlBOZI8_TdDShjYFMqPtsnO-jk=&h=1024&w=965&sz=63&hl=en&start=2&zoom=1&itbs=1&tbnid=MhCDI1g3E7P7tM:&tbnh=150&tbnw=141&prev=/images?q=computer&hl=en&gbv=2&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://www.snsfox.com/wp-content/uploads/2009/04/canon-eos-rebel-t1i-slr-camera.jpg&imgrefurl=http://www.snsfox.com/digital-camera/canon-eos-rebel-t1i-slr-digital-camera/&usg=__ute_TX8pFZUk21mgTbyDgXutSVk=&h=600&w=654&sz=65&hl=en&start=12&zoom=1&um=1&itbs=1&tbnid=uKcQfiftNqS4kM:&tbnh=127&tbnw=138&prev=/images?q=DIGITAL+CAMERA+SLR&um=1&hl=en&sa=G&rlz=1W1ADBF_en&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://www.buymebuyme.com/retail/skin1/prodimages/44476.jpg&imgrefurl=http://www.buymebuyme.com/retail/catalog/product_44205_GE_29451A_4Line_Business_Telephone.html&usg=__7pGS0q_5PuOY4Qs3i__v0xVyPv0=&h=500&w=500&sz=32&hl=en&start=18&zoom=1&um=1&itbs=1&tbnid=kqu5oIdLMvyfvM:&tbnh=130&tbnw=130&prev=/images?q=TELEPHONE&um=1&hl=en&sa=N&rlz=1W1ADBF_en&tbs=isch:1http://www.google.co.in/imgres?imgurl=http://bplteensofwa.files.wordpress.com/2009/07/computer.jpg&imgrefurl=http://bplteensofwa.wordpress.com/2009/07/&usg=__xjlBOZI8_TdDShjYFMqPtsnO-jk=&h=1024&w=965&sz=63&hl=en&start=2&zoom=1&itbs=1&tbnid=MhCDI1g3E7P7tM:&tbnh=150&tbnw=141&prev=/images?q=computer&hl=en&gbv=2&tbs=isch:1
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    1.4.4 START-UP COSTS

    Sr. No Particulars Cost

    ( in Rs.)

    1.

    2.

    3.

    Start up Expenses

    Legal

    Stationary

    Brochures

    R&D

    Expensed Equipments

    Other

    Advertisement Exp

    Total Start up Expenses(A)

    Start up Assets

    Cash required

    Long Term assets

    Total Start up Assets (B)

    Total Requirements

    Start up funding

    Start up expense to fund (A)

    Start up Assets to fund (B)

    10,000

    8,000

    15,000

    10,000

    38,000

    1,500

    1,00,000

    1,44,500

    5,12,000

    2,38,000

    7,50,000

    1,44,500

    7,50,000

    Total Funding Required ( A+B) 8,94,500

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    2.1 MARKET POTENTIAL

    The wedding scenario in India is more than just getting married. The exotic Destinations like

    palaces in Rajasthan and the successful usage of these palaces in the form of Imaginative

    theme weddings by Laxmi Mittal and Raveena Tandon have set up a world stage for Indian

    Weddings. Indias burgeoning middle class - now 300 million strong - are turning weddings

    into showcases of their growing disposable incomes and newfound appetites for the goodies

    of the global marketplace. The change is visible in the middle class who want the flavour and

    ambience of elite weddings. Seeing the world around they too are spending and want the best

    available. It sort of coincided with the rise in disposable incomes of the rich and upper middle

    Indian class and over the years weddings have become aspirational. Your wedding should

    be better than your neighbours. Many companies offer some sort of wedding planning

    services in the Surat. However, the majority of the incumbent competitors offer only a limited

    line of services like catering, flower arrangements or gifts. Crores of rupees have been spent

    every year on weddings and receptions and other parties in Surat. Therefore, professional

    wedding consultants are a commodity, not a calamity.Inspire primarily market services to

    the people who need a help most bridesand grooms. In a year, over fifty-five thousand

    marriages took place in Surat which creates a sizeable market potential for this line of

    business.

    2.2 MARKET AREA

    Inspire wedding planner and event coordinatorwill initially provide services to clients in

    Surat and nearby regions.With the passage of time we will gradually provide more servicesand expand our business to other cities.

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    2.2.1 TARGET MARKET AND SEGMENTATION

    Value added wedding planning services is more popular than ever. Client time is valuable, so

    they want to outsource many wedding planning services to an experienced professional. Our

    target market consists of providing full service wedding planning services as well as day of

    wedding planning services. Clients who use our services will be middle to upper class with

    disposable income. We will charge a fair price for our services, but we will not be the lowest

    priced wedding planning company in the market.

    Being the first year of our business, our head offices will be at Surat, one of the fastest

    developing cities of the world.

    Our target segment for the time being are the customers whose budget for the wedding is Rs

    10,00,000 and above. The reason that being, because these people will be ready to shell out

    more money for grandeur and for a magnificent wedding. This explains our choice of city for

    our head offices. Surat is main hub of diamond and textile. Because of the lifestyle they have,

    customers here are more open to new ideas. Also these Cities have lot of professionals who

    are so busy in life that they would need wedding planners for the arrangements. Also there iseasy availability of business partners like designers, caterers, grand hotels, best beauticians

    etc ads to the reason for selecting this city.

    2.2.1.1 TARGET CONSUMER PROFILE:

    Age18 to 55.

    ProfessionStudents, businessmen, and professionals. RegionSurat and nearby regions. Income LevelFamily income of BDT 25,000 and above per month. Health ConsciousnessModerate to high. PersonalityGregarious and ambitious. Attitude Towards Dining OutModerate to high. Willingness to ExperimentModerate to high.

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    2.2.1.2 SEGMENTATION

    DEMOGRAPHIC SEGMENTATION:From the demographic point of view we segment the market on the basis following

    demographic variables:

    AGE:Targeting consumers of the age group 21 and above. Apart from the marketing campaign

    which will be approaching to all, we will be also having special campaigns for young people(looking for different wedding) and old people.

    GENDER:Wedding is open for all. Traditionally the shopping type of things is mainly taken care by the

    females of the family. But the era is changed and at present, both the male and female persons

    are enjoying the shopping of their wedding.

    INCOME:Our targeted people on the basis of income are mid range to higher range.

    SOCIAL CLASS:Our target is the middle class, upper class and upper-middle class people. The current trends

    for these services are very much popular in these classes.

    LIFE STAGE:We will be targeting people who are themselves planning to get married , those who are

    planning for their childrens wedding and also those who are wanting to celebrate their 25 or

    50 years of wedding anniversaries.

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    PSYCHOGRAPHICS:

    LIFESTYLE:Lifestyle of our target segment will be quite lavish. They would believe in maintaining status

    and would want class-apart services.

    VALS FRAMEWORK:According to the VALS framework ("Values, Attitudes and Lifestyles") we can describe

    tendencies of our segment as:

    o ACHIEVERS: These are the people who are successful and career and familyoriented. They favour premium products that demonstrate their success to their peers.

    o EXPERIENCERS: These are young, enthusiastic people who seek variety andexcitement. They can spend high proportion of their income on fashion, entertainment

    and socializing.

    o STRIVERS: These are trendy and fun-loving people who are resource constrainedbut favour stylish products that emulate the purchases of those with greater materialwealth. These kinds of customers will be found in upper middle class and middle

    class. We are offering different customized products that will help them to be in their

    decided budget but sidewise they can avail our services.

    2.2.3 MARKET SEGMENTATION STRATEGY

    Recognizing the segment is the first step that has to be done is to in order to develop a

    marketing plan. Well even we have done the same. Ours will be a FLEXIBLE MARKET

    OFFERING. There will be some basic services like provision of venue, arrangement of

    caterers, invitation cards, etc. this will be NAKEDSOLUTION that will be containing the

    service elements that will be common to all the segments identified. But then there will be

    DISCRETIONARY OPTIONS available for some customers (segments) as per their choice.

    For e.g. arrangement of bachelors party, honeymoon planning, arrangement of cars for

    travelling, grooming not only the bride and groom but also the close family members, dance

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    troops for lady sangeet, etc. These are such services that may or may not be demanded by our

    customers as they might like to arrange them on their own. Of course these options will have

    additional charges. (We will be offering different packages for different groups recognized on

    the basis of religion. Like packages for Muslim weddings will be quite different from thepackage provided for Christian or Bengali wedding. Here by if we carve up the market in

    terms of preference, our segment will be clustered segment, where market reveals distinct

    preference clusters.)

    2.3 MARKETING SYSTEM

    In Inspire, direct marketing takes place and there are no intermediaries involved. Customersare directly contacted. The company provides a wedding and other events consulting service

    directly to their private customers.

    2.3.1 MARKETING STRATEGY AND IMPLEMENTATION SUMMARY:

    Our strategy is simple: we intend to provide our customers with a wide range of services

    custom tailored to their individual needs. Therefore, whether they require a completepackage, or simply consulting on a particular service, we can help.

    2.3.1.1 MARKETING STRATEGY

    The company's sales strategy will be based on the following elements:

    Advertising in the Yellow Pages - two inch by three inch ads describing the services will be

    placed in the local Yellow Pages.

    Placing advertisements in the local press, including Gujarat Samachar, Gujarat Mitra,

    Sandesh, Divya Bhaskar,etc.

    Developing affiliate relationships with other service providers (florists, hair stylists,

    caterers) that would receive a percentage of sales to the referred customers.

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    Word of mouth referrals - generating sales leads in the local community through customer

    referrals.

    E-marketing - putting on all free advertisement on net and some popular website.

    Advertisements in magazines - Magazine advertisement are a very effective way to reachthe mass people. Inspire target especially the fashion and local magazines for our

    advertisements.

    Web-page - Inspire will have our own website by the name of our outlet. The website willcontain the design catalogue of our company from which they can choose their favourite

    one. By website they can provide us online feedback, suggestion so that Inspire can work on

    those. Also they will have the opportunity to contact us, ask any queries or even order

    online their favourite design collection. That will save their time of coming to our shop

    physically.

    Leaflet - By leaflets Inspire can make people aware of our brand and location at thebeginning of venture. We will distribute our leaflets at the entrance of different restaurants,

    shopping malls and colleges.

    2.3.2. WEDDING PLANNERS AND INDUSTRY COMPETITORS

    Occasions are in a unique position of competition. Marriage planners compete against hotels

    with banquet facilities, other event planners both on the large and small scale, persons within

    an organization who are assigned the task of organizing an event, and people who wish to

    organize their own events without the benefit of assistance. The benefits and drawbacks of

    each of our competitors, as compared with the services we offer, are hardly a match in quality

    and price.

    2.3.2.1 KEY PLAYERS

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    The wedding planning business, though not a fully established business is catching up pace

    fast. The very mention of wedding planners in the popular search engine, results in lists of

    online Wedding Planner services, and numerous other wedding related services. Competitiveanalysis conducted by the company owners has shown that there are 10 to 12 companies

    currently offering some sort of wedding planning services in the Surat. However, the majority

    of the incumbent competitors offer only a limited line of services like catering, flower

    arrangements or gifts. Some of the key players with Surat are

    2.3.2.2 ANALYSIS OF COMPETITORS

    We are going to face strong competition because there are already many established and well-

    experienced wedding planners and event coordinators in this industry.

    SOME TRUTHS REGARDING OUR COMPETITORS:

    Well established brand name Operating in this segment for more than ten years. Have a huge collection Lacks in promotional activities Dont provide after sales service Dont provide service products Lacks in variety of products

    2.4 STAFF REQUIREMENTS

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    We, the three partners, are able to market our services. All of us are having expertise

    knowledge in marketing field. So, there is no need of recruiting marketing personnel.

    2.5 ADVERTISEMENT PICTURE

    3.1 RAW MATERIAL USED

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    Inspire will hire different vendors providing different services to coordinate the events. We

    will have a large network of vendors to ensure each and every client need can be satisfied.

    Hence, raw material used in wedding, birthday parties; anniversaries and theme parties are

    brought by different vendors of an event like caterer, decorator, etc. Thus there is no stock of

    raw materials with our company.

    3.2 CAPACITY OF THE PLANT

    Plant Capacity refers to the extent to which an enterprise actually uses its installedproductive capacity. Thus, it refers to the relationship between actual output that 'is' produced

    with the installed equipment and the potential output which 'could' be produced with it, if

    capacity was fully used. In our firm, we have given the plant capacity annually. As we are

    new in market, in initial years the plant capacity wont be full used as we are new in market,

    o Estimated plant capacity for a year in Rs.Particulars

    Birthday parties

    Wedding parties

    Other parties

    15,00010

    25,00020

    45,00015

    10,00,00015

    20,00,000550,00,0001

    50,00030

    1,50,000

    5,00,000

    6,75,000

    1,50,00,000

    1,00,00,00050,00,000

    15,00,000

    Total Sales 3,28,25,000

    o Calculation of Annual Sales

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    Particulars 1st Year 2nd Year 3rd Year

    Birthday Parties

    Wedding Parties

    Other Parties

    60,000

    2,50,000

    2,70,000

    50,00,000

    20,00,000

    7,00,000

    75,000

    3,75,000

    4,50,000

    80,00,000

    40,00,000

    10,00,000

    1,20,000

    4,50,000

    6,30,000

    1,50,00,000

    60,00,000

    50,00,000

    15,00,000

    Total Sales 82,80,000 1,39,00,000 2,87,00,000

    Particulars 1st Year 2nd Year 3rd Year

    Actual output = (Total sales / plant

    capacity ) 100Annual sale

    Plant capacity

    Actual output (in %)

    8280000

    3,28,25,000

    26%

    13900000

    3,28,25,000

    43%

    28700000

    3,28,25,000

    87%

    In our firm, we have given the plant capacity annually. As we are new in market, ininitial years the plant capacity wont be full used as we are new in market,

    As seen on above table, actual output of 1st year is 26% which is comparatively low.The reason behind it is lack of awareness in the people. But gradually it has been

    increased to 43% and 87% in the 2nd and 3rd year respectively. So it can be said that

    due to better performance, advertisement and quality of services, companys output

    has been increased.

    3.3 LOCATION

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    Initially Inspire will be started as home-based business; however, by 2015, we intend to

    expand ourfacilities into a well-equipped and operational office. It is highly recommended to

    use home office to run business, not only for the tax benefits, but also for the overhead cost

    savings. However as the company will expand, we are planning to start our branches atvarious strategic locations like Mumbai, Delhi, Bangalore, Pune, etc.

    3.3.1 SITE ADDRESS

    Inspirewill be located at Piplod, Surat where most of the wedding plots are there. Main

    reasons of locating our firm at Piplod are:

    Most of the customers know that all the wedding plots are located at Piplod Road. Community centre, photographers and a rent-a-car are also located near the Piplod

    road.

    It is one of the most developed areas of Surat. Most people of the city used to go there for shopping and thats why it is the most

    recognized place.

    Jam free and well parking area because of the target market.

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    3.4 PLANT LAYOUT

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    3.5 PRODUCTION PROCESS

    Inspire will offer its services mostly to the brides and grooms, as well as to the family

    members. The company will position itself as an experienced provider of wedding planningservices and other events like birthday parties, anniversaries and theme parties. Unlike most

    of its competitors, Inspire will be offering a full range of services and thus provide the

    convenience of one-stop shopping for its clients. This will significantly reduce the customers'

    time and efforts preparing for such an important event as a wedding. Moreover, by utilizing

    numerous supplier contacts that the company owners have established and economies of

    scale, Inspire Consultants will be able to pass on to its customers sizable cost savings.

    3.6 POLLUTION CONTROL

    We believe in doing the right thing more generally - following the law, acting honourably and

    providing the least harm to the environment. There is no direct harm to environment by our

    company. While conducting any event we ensure that all rules and regulation laid by the

    government are adhered.

    3.7 POWER, FUEL GAS SUPPLY

    Power Supply which our company will be using is of Torrent Power.

    3.8 TECHNOLOGY

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    Advances in technology are difficult to predict. We have planned to provide services like

    photography, decoration, sound system to our customers. We have a good technology

    environment in our country. Here, instruments used for photography, sound system and

    decorations are available. So, we can easily collect them. Also, from the end of the 20thcentury, use of computer and other technology have increased in a dramatic rate. People are

    very much familiar with them and want to use them. So, any operation related to those

    technologies should not face any problem regarding market demand.

    Initially Inspire will not be using any technology. We will hire different vendors providing

    different services to coordinate the events. We will have a large network of vendors to ensure

    each and every client need can be satisfied. These vendors provide services using different

    technologies. Equipments will be purchased in future, as cash flow allows, increasing theprofit margin of various events. Only technologies used initially by Inspire are:

    3.8.1 SOFTWARE:

    To run the business, we need wedding planning software. We also need somedatabase software to keep the record of our employee. It can be used to record any

    kinds of data about storage items, to adjusting the entries at the end of the day and to

    update any changes.

    For editing the photos we will use photo editing software like Adobe Photoshop. Tooperate this software we need specialized people on editing sector.

    3.8.2 CAMERA:

    To keep our service attractive and bit qualitative we will use high quality cameras.

    We can be assured about the quality of the picture and the usage period therefore,using branded products like Canon and Nikon SLR will be less risky for us to deal

    with.

    3.8.3 PRINTER:

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    Not only camera we also need a good printer service to get the copies of the picture. Thus, we

    are thinking to buy an Hp Laser jet printer. Hp is a well known brand and quite popular in the

    market. To get the better picture we should have one printer like this.

    3.8.4 COMPUTER:

    Computer is an essential element for any business. It is important for our business as well.

    In the computer we can store all kinds of important data. These data refers to ouremployees and inventory. We can keep record through creating an employee

    database.

    At the finishing of the month we can calculate the financial data which canmanipulate our revenue and expenses. From that we know how much profit we

    achieve and loss incurred as well.

    We can keep the data of the existing customers. From the data of existing customerswe can identify the best seller zone and the group who mostly buy our product.

    Computer makes our daily life easier. We have our webpage and can sell goods andcan have virtual contracts of organizing parties out there on internet.

    3.9 COMMUNICATION SYSTEMS

    Communication system means facility consisting of the physical plants and equipment for

    disseminating information. Our company use various electronic media like:

    o Interneto Telephone

    We are also planning to adapt 3G technology which will provide impromptu phone calls,

    video conferencing, web conference, etc.

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    3.10 TRANSPORT FACILITY FOR RAW MATERIAL AND FINISHED

    GOODS

    Our company provides consulting services to clients for planning wedding and coordinating

    other events. So, there will be no raw material and finished products for our company as our

    company hire vendors for providing different services to our clients. Hence, the question of

    transport facilities for raw material and finished goods do not arise.

    3.11 VALUE ADDED SERVICES

    3.11.1 CUSTERIZATION

    Generally Inspire provides basic packages for wedding according to the budget of our client.

    But taking into consideration different clients would have different requirements. For

    example a particular client would not want the venue to be very expensive like that in a

    palace or so, but would want food of great quality. So here instead of going for the fixed

    packages customers can also go for customized offerings. For the convenience of our

    customers our employees will also give them a brochure in the very first meeting, so that they

    can have full knowledge about the variety of the services we offer to them.

    Our offerings will be very flexible and customer will be very free to customize their wedding

    as much as they want to.

    3.11.2 BACK END SYSTEM

    Inspire can provide you everything that a conventional wedding planner can. However our

    main point of difference is that our BACK END SYSTEM which is far more superior. Jobs

    that usually take weeks, we make sure they are completed in half the time and efficiently,

    hence an edge above the rest.

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    3.11.3 THEME WEDDINGS

    We have also identified customers who want their wedding according to some themes. Theme

    weddings are becoming popular these days. We will have special teams to help our clients to

    decide on various theme weddings like village theme or theme functions where each function

    would have a certain theme. There are few players in the market that provides basic services

    to consumers but this demand still remains unanswered.

    Also, India is a country of young people. Their Moto of life is WORK HARD AND PARTY

    HARDER or rather WORK HARD AND PARTY CRAZILY HARDER. We will be

    catering to the needs of our own YOUNGISTAN. People today want to make their weddingvery special and they want it in a way that no one has done. Yes, we will be helping them to

    arrange CRAZY WEDDING. By crazy wedding we mean, crazy venues, crazy themes,

    crazy music, crazy entertainers etc. Just to give an example, crazy themes can be wedding

    based on pirate theme or beach theme withmermaids, or rock concert theme. Also some

    would want to marry in sky or on an island or underwater.

    o ICE SCUPTURES

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    4.1 IMPLEMENTATION SCHEDULE

    Implementation schedule or a time-table is draw for the project to ensure the timely

    completion of all activities involved in setting up an enterprise.

    TASKS/MONTHS 1 2 3 4 5 6 7 8 9 10

    1. Formulation of project report

    2. Estimation of cost

    3. Feasibility check

    4. Selection of location and site

    5. Construction of furniture & fixtures

    6. Getting power and water

    7. Communication system

    8. Transport facilities

    9. Advertisement 10. Control system

    11. Corrective action

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    5.1 COST OF PROJECT AND MEANS OF FINANCE

    InspireWedding planner and event coordinator

    Cost of Project

    Sr No Particulars Cost Rs.

    1.2.

    3.

    FurnitureComputer

    Working Capital Requirement

    2,00,0003,80,000

    5,12,000

    Total Cost of project 7,50,000

    Means of Finance

    Sr No Particulars Cost Rs.

    1. Owners Capital

    Yogesh

    Jainam

    Rachana

    2,50,000

    2,50,000

    2,50,000

    Total Means of finance 7,50,000

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    5.2 PROJECTED PROFITABILITY STATEMENT

    Particulars Anx.

    No

    1st Year

    2010-2011

    2nd Year

    2011-2012

    3rd Year

    2012-2013

    1.

    2.

    3.

    4.

    5.

    6.

    Income

    Sales A 82,80,000 1,39,00,000 2,87,00,000

    Total Income (A) 82,80,000 1,39,00,000 2,87,00,000

    Material Required( B)

    Gross Profit (A-B)

    Gross Profit (%)

    Selling, General & Administrative Exp.

    Depreciation

    Profit Before Int. & Tax

    Less: Tax

    B

    C

    62,10,000

    20,70,000

    25%

    1,43,000

    42,800

    18,84,200

    5,65,260

    1,04,25,000

    34,75,000

    25%

    95,300

    27,120

    33,52,580

    10,05,775

    2,15,25,000

    71,75,000

    25%

    74,000

    19,848

    70,81,152

    21,24,347

    Profit After Tax 13,18,940 23,46,805 49,56,805

    Net Profit Ratio (%)

    Add: Depreciation

    15.93%

    42,800

    16.88%

    27,120

    17.27%

    19,848

    Net Cash Accruals 13,61,740 23,73,925 49,76,653

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    5.3 ASSESSMENT OF WORKING CAPITAL REQUIREMENT

    Particulars Anx.

    No

    1st Year

    2010-2011

    2nd Year

    2011-2012

    3rd Year

    2012-2013

    I

    1.

    2.

    Current Assets

    Debtors

    Loan & Advance Deposits

    D 5,17,500

    0

    8,68,750

    0

    17,93,750

    0

    Total Assets 5,17,500 8,68,750 17,93,750

    II

    1.

    2.

    Current Liabilities

    Creditors

    Provision E

    0

    5500

    0

    6500

    0

    8000

    Total liabilities 5500 6500 8000

    Working Capital Gap(I-II) 5,12,000 8,62,250 17,85,750

    5.4 PROJECTED BALANCE SHEET

    Particulars Anx

    . No

    1st Year

    2010-2011

    2nd Year

    2011-2012

    3rd Year

    2012-2013

    A

    B

    1.

    2.

    1.

    2.

    3.

    4.

    Liabilities:

    Capital

    Other Liabilities

    -Provision

    F

    E

    20,68,940

    5500

    42,65,745

    6500

    90,22,550

    8000

    Total Liabilities 20,74,440 42,72,245 90,30,550

    Assets:

    Gross Block

    Depreciation

    Net Block

    Current Assets

    Cash Balance

    2,38,000

    42,800

    1,95,200

    5,17,500

    13,61,740

    2,38,000

    69,920

    1,68,080

    8,68,750

    32,35,415

    2,38,000

    89,768

    1,48,232

    17,93,750

    70,88,568

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    5 Misc. Expense to the extent 0 0 0

    Total Assets 20,74,440 42,72,245 90,30,550

    5.5 CASH FLOW STATEMENT

    Particulars Anx

    . No

    1st Year

    2010-2011

    2nd Year

    2011-2012

    3rd Year

    2012-2013

    A

    B

    C

    D

    1.

    2.

    3.

    1.

    2.

    3.

    Sources of Funds:Cash Accruals(Net profit after tax

    + depreciation

    Capital introduced during the year

    Provision

    13,61,740

    7,50,000

    5500

    23,73,925 49,76,653

    Total Sources (A) 21,17,240 23,73,925 49,76,653

    Disposition of Funds:

    Drawings

    Fixed Assets

    Increase in debtors

    Opening Balance

    Net Surplus (A-B)

    0

    2,38,000

    5,17,500

    0

    13,61,740

    1,50,000

    0

    3,50,250

    13,61,740

    18,73,675

    2,00,000

    0

    9,23,500

    32,35,415

    38,53,153

    Closing balance (AB +C) 13,61,740 32,35,415 70,88,568

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    5.6 CALCULATION OF SIGNIFICANT RATIOS

    Particulars 1st Year 2nd Year 3rd Year

    Gross Profit Ratio=

    ( Gross profit/ sales) *100

    Gross Profit A

    Sales B

    Gross Profit Ratio= ( A/B)*100

    20,70,000

    82,80,000

    25%

    34,75,000

    1,39,00,000

    25%

    71,75,000

    2,87,00,000

    25%

    Net Profit Ratio=

    ( Net profit/ sales) *100

    Net Profit C

    Sales B

    Net Profit Ratio= ( C/B)*100

    13,18,940

    82,80,000

    15.93%

    23,46,805

    1,39,00,000

    16.88%

    49,56,805

    2,87,00,000

    17.27%

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    (ANX-A) CALCULATION OF ANNUAL SALES

    Particulars 1st Year 2nd Year 3rd Year

    Birthday Parties

    Wedding Parties

    Other Parties

    60,000

    2,50,000

    2,70,000

    50,00,000

    20,00,000

    7,00,000

    75,000

    3,75,000

    4,50,000

    80,00,000

    40,00,000

    10,00,000

    1,20,000

    4,50,000

    6,30,000

    1,50,00,000

    60,00,000

    50,00,000

    15,00,000

    Total Sales 82,80,000 1,39,00,000 2,87,00,000

    (ANX- B)CALCULATION OF SELLING & GENERAL ADV. EXP

    Particulars 1st Year 2nd Year 3rd Year

    Advertisement Expenses

    Miscellaneous Expenses

    Stationary & Printing

    Telephone Expenses

    Lawyer Fees Expenses

    Vehicle Expenses

    Electricity Expenses

    1,00,000

    7000

    10,000

    13,000

    1,000

    10,000

    2,000

    50,000

    7,800

    11,000

    11,000

    1,000

    12,000

    2,500

    25,000

    8,000

    12,000

    11,500

    1,000

    14,500

    2,000

    Total Sales 1,43,000 95,300 74,000

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    (ANX- C)CALCULATION OF DEPRECIATION

    Particulars 1st Year 2nd Year 3rd Year

    Furniture

    Opening Balance

    Add: Purchase

    - Dep. (10% WDV)

    Closing Balance

    Computer

    Opening Balnce

    Add: Purchase

    - Dep. (60% WDV)

    Closing Balance

    -

    2,00,000

    20,000

    1,80,000

    -

    18,000

    1,62,000

    -

    16,200

    1,80,000

    -38,000

    22,800

    1,62,000

    15,200-

    9,120

    1,45,800

    6,080-

    3,648

    15,200 6,080 2,432

    Total Depreciation 42,800 27,120 19,848

    Written Down Value at the end of the year 1,95,200 1,68,080 1,48,232

    (ANX- D)DEBTORS

    Particulars 1st Year 2nd Year 3rd Year

    Total Sales

    Less: Advances

    Per Year

    Per Month

    82,80,000

    20,70,000

    1,39,00,000

    34,75,000

    2,87,00,000

    71,75,000

    62,10,000

    5,17,500

    1,04,25,000

    8,68,750

    2,15,25,000

    17,93,750

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    (ANX- E) PROVISION

    Particulars 1st Year 2nd Year 3rd Year

    Stationary Expenses

    Telephone Expenses

    Vehicle Expenses

    Electricity Expenses

    1,000

    1,000

    1,500

    2,000

    1,100

    1,200

    2,000

    2,200

    1,500

    1,800

    2,500

    2,200

    Total Sales 5,500 6,500 8,000

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    6.1 MAN POWER REQUIREMENT

    We, the three partners, will be the owner-managers. So we will be accomplishing the

    management task ourselves. We are capable of doing it because it is not a very large

    organization for us to manage. We, as a team, acts as the following:

    The Management Team- Strategic ThinkersThe Creative Team- The Thinkers And VisualisersThe Marketing Team- Selling IdeasThe Servicing Team- Client ServiceThe Financial and Legal Team- ExpertThe Administrative Team- Office Work

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    7.1 LIST OF LICENSES AND PERMISSIONS REQUIRED FROM THE

    GOVERNMENT

    1. Registration under Shop and Establishment Act ( gumastadhara license )It is simple, go with the papers of the proof of ownership of the office premises

    whether it is purchased, leased or rented, to the nearest municipal ward office and

    submit them with a form obtained from the Shop and Establishment Department. The

    charge is Rs. 600 p.a; we can pay Rs. 1800 for 3 years in advance.

    An inspector will visit the premises and then the license is issued. It is compulsory to

    have this license.

    2. Register for Service TaxThe Service Tax on event management is 12.24% and registration is to be filed with

    the Director General of Service Tax, office of the Commissioner of Central Excise.

    This is compulsory.

    3. Registration for Income-tax (PAN CARD)

    PERMISSION REQUIRED FOR THE HOLDING AN EVENT.This includes many permission as listed below:

    1. Police Permission2. Deputy Commissioner Of Police3. Traffic police4. Ambulance5. Fire Brigade6. Municipal Corporation Of Surat

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    8.1 PROJECT EXPERIENCE

    It has been our first step in the business world to onset the new project. Till now everything

    seems to be rosy from external world. But now we understood what it takes to be a successful

    entrepreneur. The pain and the hard work with consistent perseverance is the key to success.

    To see how everything works was actually altogether a different experience. The only chance

    at winning against a big competitor is to focus on niche possibilities. Niche entails offering

    unique services to a few concentrated markets. It is a less risky strategy and provides the best

    opportunities for small businesses throughout any marketplace.