International Institute of Hotel Management

Semester 6 – Assessment 2
Major Report – Food and Beverage

Under the guidance of

Ms. Tomishra Chakraborty

Submitted by
Savina Lobo

Final Year
2017-2020

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Executive Summary
This report aims on the functioning of an event management company which will help in
understanding the functions better of an ongoing company. Not only the report focuses
on the market strategies but also gives a brief idea about it’s about the market research,
competitor analysis and SWOT analysis. The report covers all the criteria for a start up
and how to boost up its sales with the current market trend. It is equally divided into the
business plan for the company, its operating cost, staff salary, getting investors and
coming up with a company name and its logo.

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Contents
1. Business Description ................................................................................................... 4
1.1. Name of the Company: Elite Event Planning .......................................................... 4
1.2. Our Motto .................................................................................................................. 5
1.3. Why choose us? ....................................................................................................... 5
2. Do market research, competitor analysis and SWOT analysis .................................. 6
2.1. Competitor analysis: ................................................................................................. 6
2.2. SWOT Analysis ........................................................................................................ 6
3. Prepare a Business Plan for your Event Management Company.............................. 8
4. On the basis of your business plan determine your operational cost ...................... 11
5. Salary and Profit Margins .......................................................................................... 11
6. Investors/Business Partners...................................................................................... 11
6.1. Sponsorship.............................................................................................................. 11
6.2. Angel Investor........................................................................................................... 12
6.3. Banks ........................................................................................................................ 12
6.4. Co-operate societies ................................................................................................ 12
7. Name and Logo Of Company.................................................................................... 12
8. Premises, Recruitment and Marketing ...................................................................... 13
8.1. Premises ................................................................................................................. 13
8.2. Recruitment: ........................................................................................................... 13
8.3. Sources................................................................................................................... 13
8.4. Marketing ................................................................................................................ 14
9. Registration of Company ........................................................................................... 14
10. Registration to Pay Tax ............................................................................................ 14
10.1. Documents required ................................................................................................ 14
Bibliography ...................................................................................................................... 16

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Develop A Business Plan To Start Your Own Even
Management Company In Ahmedabad

1. Business Description

1.1. Name of the Company: Elite Event Planning

Elite event planning is pledged to solemnize various events & programs at its
customer’s choice. The events like Wedding, Bachelor Party, Birthday Party,
Anniversary Party, Meeting & Conference, Inauguration, Brand Promotion, Musical
Party, Star Night, Corporate Events and many more are conducted to accomplish at its
best of service disposal of destiny. "Customers satisfaction is our best achievement" is
the motto of Elite.

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1.2. Our Motto
• We have broad vision of providing blissful memories to clients.
• We are keen in serving our clients the best event planning services, whether it’s
wedding, a theme party, or any corporate events.
• Not only we consider our client’s suggestions but also help them with our ideas
and create a wonderful memory.

1.3. Why choose us?

• We are cost effective, but not cheap. For us what matters is first the quality of
work that we deliver.

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 • We are passionate in doing satisfactory and productive work by providing fast,
reliable and accurate event solutions.
• Our team of professionals will manage all types of events, whether it is a royal
wedding, promotional event in malls, annual event for company employees or
entertaining events.
• Nothing is small or big for us because we manage every event with the same
dedication, integrity and passion.

2. Do market research, competitor analysis and SWOT analysis

Before organizing an event, find out whether there is a market (i.e. your audience) for
your intended event or not.

2.1. Competitor analysis:

It means finding information about your competitor, find out who are your competitor i.e.
their age, sex, qualification, knowledge, experience in organizing events, turnover,
market value, PR(media and corporate contacts) and market share. Find out how they
promote and execute their events. What do they in there events? for this you will have
to attend each and every event organized by your competitors and then create an event
report. The event report will contain following things:

• Seating and light arrangement

• Promotional material used
• Blueprint of the whole venue
• Program and food menu
• Contact details of sponsors, partners, clients (for whom the event is organized)
• Service providers like DJs, anchors, makeup artist, performers, photographers,
videographers, decorator, florist etc.
• Find out as much information as possible about events organized by your
competitors.

2.2. SWOT Analysis

It is strategic planning tool which is used to identify and analyze the strengths,
weaknesses, opportunities and threats involves in your project.

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A SWOT analysis is a simple and structured planning tool for reviewing and assessing
the position and health of an organization. It is a scan of the internal and external
factors to evaluate the strengths, weaknesses, opportunities and threats for any given
situation. It provides the knowledge needed to understand the current situation in order
to make more effective decisions and develop more successful strategies. It can be
helpful for an entire organization, an individual department, a business unit, a project
and even in personal development and career progression.

SWOT analysis involves identifying the key internal and external factors that are helping
or hindering reaching your goals. Internal Factors are the strengths and weaknesses of
an organization which may include: corporate culture and image, leadership and human
resource capabilities, competitive priorities, organization structure and performance
systems. External Factors are the opportunities and threats presented by the
environment external to the organization (or project) and may include: market trends,
competitive position, economic conditions, legislations, political, technological and
socio-cultural considerations.

Strengths:

These are the attributes of your project/organization which are helpful in achieving
project’s objectives. For example, experienced event team, high motivation level,
excellent PR, good market share etc.

Weakness:

These are those attributes of your project/organization which are harmful in achieving
project’s objectives. For example, social loafing, lack of funds, inexperienced event
team, low energy level, lack of media and corporate contacts etc.

Opportunities:

These are the external factors which are helpful in achieving the project’s objectives.
For example, minor competition, favorite economic conditions, support from local
authorities, availability of the state of the art infrastructure etc.

Threats:

These are the external factors which are harmful in achieving the project’s objectives.
For example, high competition, little or no support from local authorities, bad weather,
poor infrastructure, high labor rate, unavailability of raw material etc. It is very important
to conduct SWOT analysis before developing an event plan to develop a strategy which
maximizes the potential of strengths and opportunities of your project and at the same
time, minimizes the impact of the weaknesses and threats.

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 3. Prepare a Business Plan for your Event Management Company
An event planning business plan is a document that outlines the major aspects of your
business. It articulates what the business is, its objective, how it operates, the structure
and other important elements. A business plan will put your objectives in writing and
keep you focused on the long-term goals of your event planning business, so note the
plan in as much detail as possible to ensure that when you go to actually start your
business, you have already ironed out potential setbacks in the planning stage. Use
your event planning business plan to keep you on track. Re-evaluate your business plan
every three months and determine if you need to modify anything to reflect changes in
your event planning business.

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 1) Business objective:

We have broad vision of providing blissful memories to our clients.

Social and cultural aims

• Increase awareness of a venue, occasion, tradition, cultural and art forms,

history, area, special interest groups, etc.
• Building community pride and social cohesion.
• Validation of community groups and issues.
• Increased community participation.
• Introducing new and challenging ideas.
• Expanding cultural perspectives.
• Education, training and volunteering programs.

2) Staffing

Staffing for an event is as diverse as the event itself. Adequate staffing depends on the
number of guests anticipated to attend the event, and are employed to handle the
multiple tasks that under-gird a successful event. Staffing encompasses individuals
such as servers, coat checkers, drivers, special needs assistants, valet parking
attendants, customer information agents, and ticket-takers.

3) Determine how exactly you will find clients

• Launch A Website
You don’t have to be a computer wizard to build a website.

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Something as simple as Word Press and your own domain name is a great way to build
authority. You can buy a domain and launch a Word Press site with a free template for
less than $100 at Host Gator. List your contact information, along with the services you
offer, so you have a place to direct your clients when you receive inquiries.
Post photos of the events you have done so your work is visible. Be sure to use
keywords in your site description, such as all of the locations you service, as well as the
services you provide

• How to Get Clients through Social Media

➢ Post images of your events or other beautiful events you like on Instagram.

➢ Follow and connect with similar people on Instagram.

➢ Join Twitter and use the ‘advanced search’ function to find brides-to-be,
corporate clients, venues, vendors, etc and begin following and interacting with
them.

➢ Join local community groups on Facebook and start adding value to the groups
by posting your knowledge. They will quickly view you as an expert and reach out
to you.

➢ Post your knowledge on your Facebook page. You can also run contests to give
away a free event.

➢ Partner with local restaurants or venues to post content on their Facebook

pages.

➢ Get a past client, family or friend to do a short Youtube video review of your
work.

Social media works but it takes a little time. You have to create a strategy (use the one I
just wrote above) and execute on it every single day. Just do one small thing on social
media once per day. We call this ‘planning your seed’, and in a few months the seeds
you plant in the social media world will grow to be large, beautiful, healthy trees. When
you begin marketing on social media make sure you choose the same Company name
on every platform (same name on Twitter, Facebook, Instagram and Youtube).

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 • Business Cards
For event planners, business cards are a must. Hand them out to anyone that inquires
or leave them in places where potential clients may gather, such as coffee shops or
banquet halls. Give some to your friends and family to pass out to others that may be
interested. Be sure to list your website, blog and Facebook links along with the
description of your services and other contact information on the card. Vista print is a
great resource for business cards.

4. On the basis of your business plan determine your operational cost

• Event cost+ operating expenses=15,00,000/-

• Marketing and promotion=1, 50,000/-
• Talent and workers=2, 30,000/-
• Materials=6, 00,000/-
• Venue=3, 50,000/-

5. Salary and Profit Margins

• Profit= 7% on event cost
• Salary head of the department= 35,000/-
• Employees= 18,000/-
• Field workers= 1,000/-

6. Investors/Business Partners

6.1. Sponsorship

Corporate sponsorship is a very effective way to fund key elements of your event, and
is utilized by the vast majority of events. However, sponsors usually come on board

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 after your event has got off the drawing board. Sponsors will want to know how many
people are coming to your event, when and where it’s taking place, what’s on the
agenda and see your marketing plan. It will probably be necessary to get some core
funding in place or have people already signed up for your event, before approaching
sponsors. When you do, make sure you have also finalized your sponsorship
packages and are clear on exactly what benefits you can offer to sponsors.

6.2. Angel Investor

Angel investors are wealthy individuals or groups of people looking for investment
opportunities. Websites like Angels den can help connect you with relevant investors via
personal introduction or pitching events (for a fee). They have 13,000 angel investors
and claim a 90% success rate following coaching by a ‘lead investor’. However, you do
need to have some trading history and be looking for at least £50,000.

Here is the list of few investors in Ahmedabad:

➢ Venture Capital
➢ Private Equity firm
➢ Investment Bank
➢ Micro VC
➢ Angel Group

6.3. Banks

We will borrow some amount from banks as they will charge low interest rates in
comparison with private lenders.

6.4. Co-operate societies

They provide funds to members of society at easy conditions and also charge nominal
rate.

7. Name and Logo Of Company

Name of the company: Elite Event Planning

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Logo:

8. Premises, Recruitment and Marketing

8.1. Premises: We will plan event as per the suggestions of the client and do it in
minimum budget. We will recruit staff that fulfill the criteria and get best personal
who works effectively.

8.2. Recruitment: Take recruitment brief including inspecting the specific need
and other critical necessities/association low profile components, going to client
working environments where practicable and investigating a normal
arrangement of obligations to ensure that we fathom the capacities and
individual attributes required remembering the ultimate objective to ensure the
‘best fit’. Coordinate to meet with candidates to furthermore choose their
sensibility, inspect the position in more detail ultimately attest their intentions.

8.3. Sources
➢ Campus selection
➢ Online prospectus
➢ Agencies
➢ Interviews

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 8.4. Marketing
➢ Use social media in all aspects of planning, promoting and executing
an event
➢ Deploy online video content
➢ Use email marketing to promote your events to your existing audience

9. Registration of Company
There is no as such any license required to open specially an event management firm.
We have to registered our business as event management company as others do in
which we have following options.
1. Pvt. Ltd. Company - To be registered with ROC Register of Companies comes
under MCA - Ministry of corporate affairs, having offices in all capitals.
2. Partnership /Proprietorship firms - Open an agreement of partners on a stamp
paper of 500 rupees mentioning mutual terms and conditions - to be registered in
court.
3. Registered under Shop Act - Best solution but have to manipulate few terms of
event management like Tent Wala, Decor on Hire kind of thing. Registered at
Labor courts
Some documents are must to run your event management firm:
➢ PAN Card
➢ GST registration
➢ Bank account
You can contact any CA, They will help you better, like if you show your business as
celebrity management or event management or artist management then the Tds is 10%
as per law and same thing you do under manpower on hire or labor charges then the
Tds is 2%.

10. Registration to Pay Tax

➢ Income tax
➢ Service tax
➢ Income tax refund
➢ Tax deducted at source (Tds)

10.1. Documents required

➢ Pan Card
➢ Bank Acc Details

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 ➢ Address Proof

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Bibliography:

Anon (2020). [online] Available at: https://www.crunchbase.com/hub/investors-active-in-

ahmedabad-gujarat#section-overview [Accessed 10 April 2020].

Banahene, S., (2010). Competitor Identification and Analysis - How do you do

yours?. SSRN Electronic Journal.

Brooks, G., Heffner, A. and Henderson, D., (2014). A SWOT Analysis of Competitive
Knowledge from Social Media for A Small Start-Up Business. Review of Business
Information Systems (RBIS), 18(1), pp.23-34.

Muskat, B. and Mair, J., (2019). Knowledge sharing and power in the Event
Workforce. Event Management.

Pernecky, T., (2015). Sustainable leadership in Event Management. Event

Management, 19(1), pp.109-121.

Pinto Teixeira, L., (2008). Partners in Business. Lusotopie, 15(1), pp.37-58.

Smart, P., Maddern, H. and Maull, R., (2009). Understanding business process
management: Implications for theory and practice. British Journal of Management,
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Special Events Galore, (2018). Educate and Advise Persons Staffing Special Event
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Teece, D., (2010). Business models, Business Strategy and Innovation. Long Range
Planning, 43(2-3), pp.172-194.

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Wickham, M., Donnelly, T. and French, L., (2020). Strategic sustainability management
in the Event Sector. Event Management.

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