Business Plan for Tourism Industry- Orlando- Seyed Makan Ayoughi

Evolutionary Events
i
MGMT-600
Professor Lou Pearsall
Keller Graduate School of Management
Of DeVry University
Orlando, FL
Evolutionary Events
Business Proposal
Seyed Makan Ayoughi

Evolutionary Events
Table of Contents
1.0 EXECUTIVE SUMMARY...............................................................................................................4
2.0 BUSINESS DESCRIPTION.............................................................................................................5
2.1 MISSION/VALUE/VISION STATEMENT.................................................................................5
2.2 COMPANY SUMMARY................................................................................................................................6
2.3 COMPANY OWNERSHIP.......................................................................................................6
2.4 COMPANY LOCATION..........................................................................................................7
3.0 INDUSTRY ANALYSIS……………...………….…………………………………...…………...8
3.1 INDUSTRY REVIEW..............................................................................................................8
3.2 REGULATION REVIEW.............................................................................................................................10
3.3 COMPETITIVE ANALYSIS...................................................................................................10
3.4 SWOT ANALYSIS.............................................................................................................12
3.5 RISK MANAGEMENT.........................................................................................................18
4.0 MARKETING SECTION……………………………………………...………………...…….…20
4.1 SERVICE CONCEPT............................................................................................................20
4.2 Target Market & Segmentation......................................................................................................................22
4.3 VALUE PROPOSITION........................................................................................................24
4.4 PRICING STRATEGY...........................................................................................................26
4.5 SALES & MARKETING STRATEGY.....................................................................................28
5.0 OPERATIONS PLAN…………………………………,,,,,,,,,,,,,,,,,,, ………………………...
….36
5.1 Day-to-Day Operations..................................................................................................................................36
5.2 HUMAN RESOURCES.........................................................................................................41
5.3 FACILITIES & EQUIPMENT PLAN.......................................................................................43
5.4 TECHNOLOGY PLAN..........................................................................................................46
5.5 Management Team.........................................................................................................................................48
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5.6 ORGANIZATIONAL CHART................................................................................................51
5.7 MANAGEMENT TEAM GAPS..............................................................................................52
6.0 FINANCIAL PLAN………………………………………...……………………………….
…...53
6.1 STARTUP FUNDING............................................................................................................53
6.2 Use of Funds..................................................................................................................................................54
6.3 SALES FORECAST..............................................................................................................63
6.4 CASH FLOW......................................................................................................................70
6.5 BALANCE SHEET...............................................................................................................72
6.6 Income Statement...........................................................................................................................................74
6.7 BREAK-EVEN ANALYSIS...................................................................................................76
6.8 VALUATION AFTER FIVE YEARS........................................................................................77
6.9 EXIT STRATEGY................................................................................................................77
REFERENCES…………….…………………………………...…………………………………...79
APPENDIX…………………………………………………...……………………………………81
A: EMAIL CORRESPONDENCE WITH VISIT FLORIDA ASSOCIATE............................................81
B: EMAIL CORRESPONDENCE WITH PROFESSIONAL PHOTOGRAPHER......................................85
C: ANNUAL INCOME STATEMENTS (2015-2019)....................................................................86
D: Cash Flow Statements (2015-2019)..............................................................................................................96
E: BALANCE SHEETS (2015-2019)........................................................................................105
F: 5 YEARS AT A GLANCE.....................................................................................................117
....................................................................................................................................................
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1.0 Executive Summary
The future of event planning is upon us and Evolutionary Events is in the midst of that future. Evolutionary Events is breathing
change to the Orlando Metro area in the event planning market. We believe in having old fashioned values, and going the extra
mile. By using industry leading event planning software, Evolutionary Events will take the lead in the market, all while
providing the same quality results our clients are accustomed to every event.
Evolutionary Events believes in making corporate events memorable all while freeing up our clients time to handle their day to
day tasks. Our Marketing and Memories packages will complete our client’s corporate events. The event planning software
will allow us to keep better records of each clients’ event. Through our employees and services, Evolutionary Events aims to
be the number one event planner for all corporate events.
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2.0 Business Description
2.1 Mission/Value/Vision Statement
Our mission at Evolutionary Events is to provide high quality standards of meeting and event management services; this is our
ultimate commitment to our clients. It is our goal to be a valuable partner while providing extraordinary event coordination
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skills and services to guarantee the desired outcomes. The relationship between us and our clients is reinforced through our
partnership and the progression of crafting the dream event for our clients.
Our values are displayed through both integrity and our level of service. Through each point of contact with our clients,
employees, suppliers, partnerships, and communities where we do our business imitates the commitment we have to doing
business both ethically and responsibly. Providing outstanding service is our passion at Evolutionary Events. It is our
dedication to fully understand our clients’ standards, from this we are able to then base our approach to fully meet and exceed
their expectations. This allows us to be flexible and provide a customizable meeting and event for each and every client.
It is our vision to be an extension of our clients’ public relations resources to provide an inclusive understanding of their goals
and ideas for each event. Evolutionary Events is committed to the delivery of extraordinary quality and value driven results.
2.2 Company Summary
Evolutionary Events LLC is an event planning company that provides services to all small to mid-sized companies who would
like to have their corporate events in the Metro Orlando area. Our highly professional employees can provide our clients with
everything they need for their employees and for the executive staff during the event such as visas’ paperwork, flights, tickets,
hotels, transportation, tours, seminars, business exhibition tours, and any other available service.
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Evolutionary Events LLC will provide our clients with high quality event planning services. We specialize in Graduation
Ceremonies for Universities, Business Seminars, Corporate Lunch-ins, Corporate Excursions/retreats, Trade shows, and expos.
Our company seeks to fulfill the following benefits that are important to our clients:
• Professionalism: this is imperative as the service Evolutionary Events provides is, in effect, a representation of the
client corporation itself.
• Competitive Pricing: the pricing scheme must be competitive to offer an incentive for the customer to outsource these
services.
• Customer Service: the customer must get the sense that all of their needs are being met, regardless how small or
inconsequential it may seem.
Our company creates and design the events for clients with their idea in Orlando and take care of every part of their events
such as food, hotels, air tickets, transportation, entertainment, photographs, conference room and all other services that they
require to have in their event.
2.3 Company Ownership
Evolutionary Events currently has five investors lined up. We are seeking $200,000 from Pearsall Investments for a share of
ownership.
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Investor Role Investment Amount
Daniel Jacobson Silent Partner $20,000
Virginia McCann Silent Partner $20,000
Marlin McClendon Management/Operations $20,000
Seyed Makan Ayoughi Sales/Marketing $20,000
Melissa Yakimetz Management/Operations $20,000
Pearsall Investments Investor $200,000
Total Investments $300,000
2.4 Company Locations
Our company will be based out of the metro area of Orlando, Florida. It is conveniently located between many great offerings,
such as theme parks, shopping, entertainment, and dinning. This location will provide a central location to allow our clients to
further explore the Central Florida region and coast. As we continue to grow, our company will look towards other destination
cities, such as Las Vegas, New York City and Washington, D.C.; however, we will keep the headquarters in Orlando.
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3.0 Industry Analysis
In the industry analysis, we will look at what Evolutionary Events LLC is, and how the company will enforce policies and
procedures. The competitive analysis gives an overview of how Evolutionary Events LLC will compare to other event
planners in the Metro Orlando area. A closer look at strengths, weaknesses, opportunities and threats and risk management
will be examined to further understand how Evolutionary Events LLC will be a great asset in the Orlando community.
3.1 Industry Review
Evolutionary Events is based on business event planning in the Central Florida area, mainly in the Metro Orlando area and
according to Cvent, which is “a leading cloud-based enterprise event management platform, today revealed its third annual list
of the top 50 cities for meetings and events in the United States; Orlando and Las Vegas continued to hold spots among the top
three destinations” (CVent Reveals 2014 List of Top 50 Meeting Destinations in the United States, 2014). As event planners
for businesses who travel to Orlando, it is our responsibility to provide our clients with the outstanding service that they
expect.
Event planning is the process of managing a project such as a meeting, convention, tradeshow, ceremony, team building
activity, party, or convention. Event planning includes, but is not limited to:
o Budgeting
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o Establishing timelines
o Selecting and reserving the event sites
o Acquiring permits
o Planning for food and beverages
o Coordinating transportation
o Developing a theme
o Arranging for activities
o Selecting speakers and keynotes
o Arranging for equipment and facilities
o Managing risk
o Developing contingency plans
The maximum number of participants for our events will be 2,000 to accommodate our early beginnings, with the goal of
expansion to several thousand participants in the coming years. In the meantime, as a new company, we must look at our
strengths, our weaknesses, the opportunities that will enable the company to grow and the threats that other
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companies/competitors may hinder our growth. We will also create a risk management plan which will provide our company
with potential risks that might be involved in moving forward as an event planning company in the Metro Orlando area.
According to the U.S. Bureau of Labor Statistics, “Meeting, convention, and event planners coordinate all aspects of
professional meetings and events. They choose meeting locations, arrange transportation, and coordinate other details.”
(Meeting, Convention, and Event Planners, 2015). In 2012, there was an economic study of the impact of
meetings/conventions in the United States; therefore, most of the information will be based off of that study.
3.2 Regulation Review
There are several licenses that an Event Planner will need in order to be in compliance with Federal, State, County and City
regulations. Some of the areas require more than one license and these are the types of things that get overlooked and when
determining the location of the new business. Orlando was selected as our headquarter base because it is a business friendly
city; Orange County requires minimal local licenses thus leaving most or all of the regulation to the State of Florida. Florida
regulates a large number of industries and business types from food business to auto body repair. Orlando comes as top tourist
and entertainment attraction with technology bringing in $13.4 billion and employing 53,000 people makes Orlando a great
place for seminars and events. We will need to file for an EIN or Federal Employer Identification Number from the IRS for our
LLC. This is a unique tax ID for your new legal entity and needs to be used with any transactions for the company (2012,
September 1).
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The next step is the business license or occupational license with the county. A business license/occupational license or
business tax receipt is required by most counties in Florida to have the legal ability to have a business in said county. The last
step is to setup a bank account for the new company. We are required to have a bank account for the LLC. All monies coming
in and going out must go through the company bank account. Once we have all these steps in place, we will be ready to begin
our business legally in the state of Florida.
3.3 Competitive Analysis
In 2012, there were 94,200 event planners working in the United States with a median pay of $45,810 per year or $22.02 per
hour. (Meeting, Convention, and Event Planners, 2015). A ten year outlook for event planners will be up as much as 33%,
which would increase the event planners working in the United States to over 125,000 (Meeting, Convention, and Event
Planners, 2015).
According to the 2012 economic significance study, 1.83 million corporate and business meetings were held in the United
States resulting in $280 billion dollars in direct spending. The U.S. had 51,000 meeting and convention planners in 2006,
according to the Bureau of Labor Statistics, and that number is projected to grow by 20 percent over the next decade, reaching
61,000 by 2016 (2012 Economic Significance Study - Key Findings, 2012).
The chart below highlights some of the economic findings:
Item Economic
Status
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Direct Spending $280B
Creation of U.S. Jobs $1.78M
Contribution to GDP $115B
Federal, State, Local Tax
Revenue
$28B
U.S. Labor Income $66.8M
Information source: 2012 Economic Significance Study – Key Findings
In an email correspondence to the research team from VisitFlorida.com, it was noted that in the state of Florida the “domestic
business travel accounts for only 10 percent of Florida's visitors. Of that 10 percent of business travelers; 59 percent of those
came to Florida for a convention, seminar/training, or other group meeting. The average expenditure among Florida's domestic
visitors who traveled to the state for business purposes was $238 per person per day.
The total domestic visitors which include leisure and business, to Florida in 2012 were 77.6 million” (See Appendix A for
complete correspondence).
Locally in the Metro Orlando area, the Orange County Convention Center is sought out for conventions/meetings in Central
Florida. According to the 2012-2013 financial report for the Orange County Convention Center “103 convention/trade shows,
78 meetings/conferences and 26 consumer, public ticketed events and banquets” (Fiscal Year 2012-2013 Annual Report, 2012-
2013).
Further break down of the fiscal report for the Orange County Convention Center illustrates the following:
ITEM Number
Average party size 1.6 people
Average length of stay 3 nights
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Economic impact per visitor per trip $1,970
Stay in a hotel 93%
Arrive to Orlando: Air travel 57%
Arrive to Orlando: By automobile 39%
Arrive to Orlando: other 4%
Activities: Dining
Activities: General Entertainment
Activities: Shopping
Activities: Theme/Amusement Park
44%
25%
24%
23%
Source: Orange County Convention Center Market Research, 2012-2013 Fiscal Annual Report
The Orange County Convention Center “hosted approximately 1.3 million total attendees at
various events during the fiscal year 2012-2013” (Fiscal Year 2012-2013 Annual Report, 2012-
2013).
3.4 SWOT Analysis
Strengths
Barriers of Entry: Starting up a new company can be extremely hard, especially one that involves networking within
the Metro Orlando area. Our staff is comprised with the ability and know-how to network with partners that will help
our events to be the best. Our owners will also share Evolutionary Events with their networks, increasing our
connections within the Greater Orlando area. Our strengths as a company, though new to the Orlando market, will only
continue to grow in time.
o Strong technological basics: Our Web site will be constantly improved and updated to ensure our clients and potential
clients find and pay for the services they need. Clients can create accounts on the website to track project status. This
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tracking application will be linked to our CRM system to provide clients with the most accurate and up-to-date
information.
o Employees with a variety of skills: With experienced and proactive employees we can cultivate our long-term plans
to achieve the goals of our company. Our staff has to be kind, intelligent, up-beat, innovative, and responsive to our
attempts of making them a part of our corporate culture. Extensive training on customer service and business policies
will be provided to all employees. Also, we are going to have multilingual staff to satisfy our multicultural costumers.
Our staff is our strength, because each employee has a different skill set to offer. Each employee has experiences that
enhance the direction in which the company will gravitate. At Evolutionary events we will create brainstorming
activities to highlight the different assets our team members have.
o ‘New Kids on the Block’: As a new company we will offer lower rates than our competitors and offer discounts for
referrals and returning customer. This is expected to increase our customer base by word-of-mouth advertisement.
o Completely new and useful differentiated service: We are offering a 24/7 customer service. This service entails off-
hour arrivals/departures, car service, and emergency management. We will facilitate this service with a rotating
schedule of ‘on-call’ event planners.
o Well thought alliances: We have been establishing alliances with hotels, limousine car rentals, restaurants, and
airline companies in order to give better services and prices to our clients.
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o Widespread advertising and marketing: Promoting both our company’s name as well as our service, we are going to
develop an intense marketing campaign with strong objectives and strategies. Search engine optimization, trade show
attendance, booklets and other marketing materials will be used to promote the business, but most of all word of mouth
will be our main marketing tool.
Even our company name highlights our strengths:
Expertise
V.I.P. treatment to our clients
Outstanding service
Loyalty to clients and partners
Understanding needs and wants of our clients
Top notch service
Insight to all your needs
On call 24/7 during your event
Never going to let our clients down
Always there when you need us
Ready to change to your business needs
Y, because we are there for you
Weaknesses
o Inexistent reputation: As we are a new company with unrated service, we are unknown in the market. However, this
weakness is going to be addressed with our aggressive marketing plan. To establish better relationships we will request
meetings with the decision makers within our target market. We will need to have open houses and marketing specials
to reach out to our projected client/customer base.
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o New processes and workers: At the beginning it may be hard to adapt new employees to our project management
style procedures and processes. We also expect high quality and a strong commitment to our mission and vision; it may
be challenging to find employees that these characteristics. We will be using the technique of continuous improvement
by writing, reading and applying the procedures and instructions as the International Organization for Standardization
(ISO) does. Our employees will have some freedom in regards to making their own decisions to keep our clients happy
and the event on schedule. Our company is in it formidable stages so the ‘team’ hasn’t been able to really become a
team. We will create team building exercises and strategies to help build team synergy.
o Few financial resources in comparison to our competitors: Also, as we are new in the market, we are going to
increase our revenue progressively in order to grow and eventually have a sustainable good profit.
Opportunities
o Growing rate of event visitors in Orlando: If our marketing plan is successful we will always have a market for our
service. There will always be events in Orlando, FL so the growth of the business will be phenomenal compared to
other cities or states.
o Government interest in events and tourism: As events for companies and tourism in Orlando is increasing
significantly each year which in turn brings more revenue to the state making local government open to hear offers that
could help bring more people into the state. Evolutionary Events is in a great position to approach lenders for loans and
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get the permits to establish our business. Because we will be a small business, looking into the Small Business
Association (SBA) will be a main focal point to help grow the business for the expansion.
o Partnering with smaller competitors: If there is a case that a small competitor is offering a service that we are not, at
the beginning partnering would give us an advantage because we would be able to refer clients to each other and book
the events plans. Instead of having a customer look somewhere else they know they could be taken care of all at once
within our company’s.
o Expansion: Once we have been established as a premier event planning company in Orlando, we will have the clients
and resources to expand to other meeting destination cities that cvent has mentioned in their article. Considering the
list of meeting destinations, we can expand to Las Vegas, Chicago, Washington, D.C. to name a few (CVent Reveals
2014 List of Top 50 Meeting Destinations in the United States, 2014).
Threats
o Growing competition: The current increase of events in Orlando may have an effect on the number of event planning
companies in the market, growing their number and experience quickly. That is why we are going to maximize all of
our strengths, highlight our differentiation in order to stand out, and exceed our costumers expectation by creating a
personal relationship with them. Competition is always a big threat and many companies are offering similar services.
Posh Able Events and Encore Creations are two of the best web-positioned companies and seem to be the biggest
threats to Evolutionary Events. According to Posh Able Events.com, it “is Orlando’s luxury corporate and social event
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planner.” (Posh Able Brands and Services, 2015) and for Encore Creations “is a full service event planning,
management & productions studio. We specialize in the creation, design, marketing, management and production of
profit driven, brand engaging and relationship building event experiences for serious business. (About Us, 2015).
These two companies have been established here in Orlando for some time and they will continue to be our threats as
we expand. We will strategically align or services with our competitors. Evolutionary Events will embrace our threats
and create value within our company by providing a seamless transition from planning to execution. Since Orlando is a
top meeting destination in the United States, it will attract other similar event planning businesses to the area. To
mitigate our threats we will conduct a market analysis at the end of each fiscal year. Doing so, will keep Evolutionary
Event strategically aligned with our competitors services.
o New regulations: We are going to be very attentive to any new regulation in the market in order to not take us by
surprise.
o Not knowing the current market and trends: We have to make sure all employees know what is being offered in the
current market from competitors. If we do not know this information our customer base could shrink, simply because
the competition offered a better deal.
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o Insufficient customer base: Not having enough clients to sustain the business and generate revenue to remain open.
This could be from competitors, marketing issues and inexistent reputation.
3.5 Risk Management
As Evolutionary Events prepares for the events, a risk management plan will be implemented. This plan will be given to our
clients and to all Evolutionary Events staff members involved in the event to ensure that the event will be a success.
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Each event comes with different risks due to the location of the event or even time of year. Even though risk management may
be similar in some aspects, no two events are the same and for that reason, each event will consist of its’ individual risk
management plan. The following is just an example of what may occur at an event, please note this is just a sample of the
items that Evolutionary Events will look at and that a full risk management plan will be used at each event.
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22
Elements Risk Possibility Severity
Location
Unavailable Low Very High
With-drawl from
hosting
Low Very High
Loss of electricity Low Very High
Information Technology
Loss of Data Low Very High
Data breach High Very High
Equipment not
working
Low High
Loss of Wi-Fi Low Moderate
Lodging
Lack of rooms availability Low Moderate
Rooms not ready Low High
Rooms not clean Low Moderate
Food
Not ready Low Very High
Not enough choices Low Moderate
Not enough food Low Very High

Evolutionary Events
Once the risk management plan has been established, we can look into risk avoidance, risk retention, risk transfer and risk
reduction. As risk avoidance, we would just avoid taking certain risks that were mentioned above. In the risk transfer, we
would look into giving the responsibility to other companies, like third parties. (Risk Management Plan for Events, 2015)
4.0 Marketing Section
Marketing for Evolutionary Events LLC will be consistent with other operations within the company; however, being a start-
up company, marketing will be heavily dependent on the onset of the growth of the company. A target market and
segmentation review will allow our investors to observe where Evolutionary Events LLC will be concentrating the efforts too.
Value proposition; pricing, sales and marketing strategies examines Evolutionary Events LLC position within the market in the
Metro Orlando and why businesses should chose their next event to be planned by Evolutionary Events LLC.
4.1 Services Concept
Evolutionary Events LLC is ready to offer corporate event services that only a few companies in Metro Orlando are providing
at this time. Our company provides free consultations to begin the planning process for these events along with many other
services that make corporate events easy and fun with unforgettable moments for company employees. Our services will
satisfy the necessities of no hassling, no worrying, and stress-free planning for corporate events in Orlando.
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By choosing Evolutionary Events LLC, we will make sure that our guests experience the best events with great transportation
and have fun in their spare time and at any time! Yes! Any time! Our 24-hour on call service will help us to become the
preferred corporate event planning company over our competitors. During the consultation or through our website, our clients
will tell us what is needed with regards to hotels, seminars, business exhibition, tours, flights, visas’ paperwork, places to visit,
transportation, cruises, night out or even photographic services. Evolutionary Events will be there to assist them with our 24/7
service.
As many companies would like to choose different services, special hotels or luxury transportation for their top managers, we
will provide them with one hour free consultation about their events. In that one hour we will listen to their needs and ideas of
how they would like to spend their time during their event. We will offer our additional services to evolve their event to the
next level. Our consultant team will provide our clients with the best offers and prices for their event needs; if approval is
granted, we will sign a contract for the entire event. We have an alliance/partnership with several lodging, dining and
attractions within the Metro Orlando area and also with other destination cities along both coasts in Florida to accommodate
our client’s needs.
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We also offer a convenient online service in which our clients can book our extra services by adding them to their Shopping
Carts. Specific services can also be selected by each client, such as visas’ paperwork, flights, tickets, hotels, transportation,
tours, seminars, business exhibition tours, and any other available service. Moreover clients can find out about different
exhibition dates which are held in Orlando and our special tours for those exhibitions, because our company can provide them
hotels near the exhibition center and tours during the day for their entire company. Also, they can conveniently pay through
our website.
4.2 Target Market & Segmentation
Evolutionary Events LLC is an event planning company that provides services to all small to mid-sized companies who would
like to have their corporate events in the Metro Orlando area. Our highly professional employees can provide our clients with
everything they need for their employees and for the executive staff during the event such as visas’ paperwork, flights, tickets,
hotels, transportation, tours, seminars, business exhibition tours, and any other available service.
Market Segmentation:
Our market consists of every company in the United States that is looking to invest time and money to capture their
meetings/conventions in the Metro Orlando area. As long as we are a new company with limited resources we cannot do
marketing and produce services to all the companies in other countries. Segmentation will help us identify our target market in
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terms of geographic, demographic, socioeconomic and psychographic of our clients companies and participants in the events.
Below is a representation of the segmentation that our company is looking at:
Geographic  Region
 City Size
 All over United States
 250,000 or more
Demographic  Gender
 Age
 Race
 Life stage
 Male and Female
 22 to 65 years old
 Any
 Adult and Young Adult
Socioeconomi
c
 Income
 Education
 Occupation
 Over $5 million/Year
 High School Graduate and more
 Company’s Employee or
managers
Psychographic  Personality
 Lifestyle
 Any
 Any
Our target market consists of:
• Companies, organizations, corporations or universities who are planning to hold an event(s) in the Metro Orlando area
from all over United States with total number of participants between 50 to 2000 attendees
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• High earning companies: this group is usually professional companies, with a regular income over $5 million per year.
These companies work harder and expect event excellence and are willing to spend large amounts of money on events
which would include all the services that a five star company expects
Our primary target market for the first five years consists of companies within the United States that come to Orlando with the
purpose of business meeting or business events. Companies often choose Orlando because of its good weather, lower prices
and taxes compare to other states, and its attractions for their employees to have fun when they are out of the event. Because
our company is new with a limited number of high professional associates, we do not provide services to companies with more
than 2,000 employees and to be more cost effective our services cannot be for those that have less than 50 employees for their
event. We have targeted high earning companies that are willing to pay more to receive a higher quality of service, and we will
make sure that our clients have an interesting event with special services which will make their event more fun.
According to the Bureau of Labour Statistic, the number of meeting and convention planners is projected to grow by 20%
reaching 61,000 by 2016; with this growth rate can give our company a unique advantage to grow and expand our client base
even in early years. Moreover, research shows that companies that are going to have an event want their event to be perfect for
their employees and any participants that may be visiting. Evolutionary Events LLC can provide them with unique services
with fare prices to make sure that our clients are satisfied in every dimension. An event planner will be available 24/7 to solve
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any issues our clients might have or to provide them additional services. This will give our company unique advantages that no
other companies provide the same services with our rate.
4.3 Value Proposition
Evolutionary Events LLC offers the best and most personalized service for the companies that are looking to have events in the
Metro Orlando area. Our company focuses on the quality of service by looking at our client’s needs and requirements, solving
their issues, and providing the best service with professional employees. Also, by using technology in a right way, we will
make it easier for our clients to utilize all of our services and customize their event needs easily. Our company understands the
high value of time and money for our client, that’s why we offer them a one hour free consultation which provides them with
a general description of the event planning process, an analysis of their event needs and desires, and the baseline rates
Evolutionary Events will charge for their event.
Here at Evolutionary Events LLC, we provide a wide range of services that meets the needs of our clients and that’s why
clients will choose us over other competitors. We understand that clients are looking for the perfect event(s) for their
employees and all the participants in the event(s), and we are able to provide them with everything that they need such as
visas’ paperwork, flights, tickets, hotels, transportation, tours, seminars, business exhibition tours, and any other available
service. Our flexibility in services will provide us with a competitive advantage.
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Evolutionary Events LLC will provide our clients with high quality event planning services. We specialize in Graduation
Ceremonies for Universities, Business Seminars, Corporate Lunch-ins, Corporate Excursions/retreats, Trade shows and expos.
Our company seeks to fulfill the following benefits that are important to our clients:
• Professionalism: this is imperative as the service Evolutionary Events provides is, in effect, a representation of the
client corporation itself.
• Competitive Pricing: the pricing scheme must be competitive to offer an incentive for the customer to outsource these
services.
• Customer Service: the customer must get the sense that all of their needs are being met, regardless how small or
inconsequential it may seem.
4.4 Pricing Strategy
Evolutionary Events LLC is going to promote and demonstrate our company’s value and differentiation from our competitors
with the capability to satisfy our client’s needs and exceed their expectations by being completely transparent when talking
about our promotional prices, and every topic about our services, while taking into account all their personal needs and likes,
and offerings:
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• 24/7 service to organized any plan required during our client’s events.
• Unique photographic service
• Access to any available service for our clients to create their ideal plan. We truly want to have adaptable sets for each
client.
• A complete online service in which our clients can plan their entire vacation by adding our memories or marketing
packages to their Shopping Carts. Also, client’s are able to customize the services they need for their events. These
services include visas’ paperwork, flights, tickets, hotels, transportation, tours, seminars, business exhibition tours, and
any other required service.
Evolutionary Events LLC developed a price scale to include both corporate and government events which is listed below:
1- Corporate Events: $65/Hour + 10% of total expenses
This price include graduation ceremonies for universities, business seminars, corporate luncheons and corporate
excursions/retreats (team building)
2- Governments Events: $80/Hour + 15% of total expenses
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This price includes expos, and trade shows
These prices compared against our competitors are shown to be extremely fare, which means the companies that provide the
same services with the same quality charge almost 5% more in total expenses. As a startup company we will be charging 5%
less than our competitors still allowing for the quality of services that our company puts forth. This can position our company
into medium price/ high quality in the market.
low price, high quality Medium price, low
quality
High Price, High quality
Low price, low quality Medium price, high
quality
High Price, Low quality
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4.5 Sales & Marketing Strategy
Our company will offer a discount of 5% on the total event price for referrals and returning customers; this will encourage
repeat business as well as help our company get more clients and plan more events in the first two years. This discount will
also include our existing clients, for example if a company wants to hold an event two years in Orlando with our company, for
the second year they can use our 5% coupon that is a good for them to continue using our services.
Evolutionary Events LLC will utilize different marketing programs which we expect to enable effectively planning and
respond to changing conditions over time to compete in the Metro Orlando area event and tourism industry market. The core
element of our strategy is offering added value, which makes us unique from what the market offers. In terms of marketing we
intend to make our company´s name and service synonymous with excellence and to be in our client’s minds whenever they
think of business event planning. Our company is committed to establishing a long-term relationship/partnership with our
clients. The following are some of our marketing programs that support our company’s strategic plan:
- Communicating with other event and tourism agencies will help the company get more clients. This
communication will be from the marketing executive in our office and will start when the company launches.
Communication will occur through phone or email, and if needed by visiting their branch. (Edmunds, S. 2010, 08 15).
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Evolutionary Events
- Event photography which makes Evolutionary Events LLC unique in the market is an advantage to attract
tourist companies that would like their event photos online or printed. The owners of Evolutionary Events have
connections with photography companies. We will utilize these connections to contract photography companies. When
clients request this service we can provide them with memorable photos from the time they enter Orlando until they
leave. These photos are available online in cloud storage to be easily accessed by the company’s employees.
- Reasonable pricing method in relation to the high quality of our service is a competitive advantage for our
company to be well known and sought out after several years in business. Our company is decreasing the prices of
the market by 5% in early years to make a name for ourselves within our target market. Our target market will know
the quality of service our company provides, in turn attracting new clients. These prices are less expensive because
other events companies increase their prices by at least 20%. Our analysis shows that 15% is enough to cover our
expenses to make less profit in early years of the business.
- Powerful website for clients to choose every service in their event and easily pay for their selections online is an
advantage that takes the stress out of organizing their event. Our website was designed and will be implemented by
one of the top-rated website designer in Dubai. The site will be linked to our bank account in order to receive payments
for the memories and marketing packages clients purchase. All requests from clients who order online will go to our
sales department to review and confirm the accessibility of our client’s requests. The site will allow clients to specify
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specific details of their events such as, preferred method of transportation, hotels, and venues. The design and hosting
company offers 24/7 support.
- Online marketing in social media website, search engine optimization, and different banners in well-known
websites grants an easy access for companies that are planning to have an event in Orlando. Our marketing group
is responsible for the advertisement on different social media platforms. This individual will have the responsibility to
support our online ads and identify websites Evolutionary Events can advertise.
- Joining exhibitions in different states will allow us to further our relationships with clients and other tourism
and event companies in those states. Our marketing group will identify different national travel and tourism
exhibitions as continuous market research. This data will help the management team gauge and strategize our market
position.
- Our 24/7 services will allow our clients to contact us at any time during the event planning and execution
processes. Our company will have customer representatives that have many years of experience and can facilitate our
client’s needs. Client’s can contact us via phone or email and request services they need.
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The initial marketing and training expenses will be relatively high as we seek to become known in the market. As our market
share increases and capital is generated, further marketing programs and the expansion of those in existence at the time, will be
undertaken to ensure market development.
Marketing message:
Why Evolutionary Events? Because our professional employees are available 24/7 to create the best event(s) for you and
your company! You will find everything you need for your events with the best prices. With us you will experience business
trips that are fun, productive and motivational. Feel like you’re on vacation with Evolutionary Events.
Our marketing message will be the first thing that our potential clients will see when they enter our website. It will be on the
first page and it will be used in our brochures and advertisements. This marketing message shows that we are available 24/7 at
the customer’s event; our staff consists of professional employees, all needs will be met with our company, and other tours and
services are available for participants and their family to have fun during their business trip.
Analysis and research:
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According to the Orlando Sentinel, the tourist industry is growing very fast in Orlando and is evident from tourist-tax
collections compared to past years. This analysis indicates people choose Orlando over other states in the U.S. to spend their
time and money. This is a great opportunity for Evolutionary Events LLC to start a corporate event planning company for
other businesses that are looking to spend time in Orlando.
“Orange County tourist-tax collections rose to $17.7 million in February, up 8.6 percent over the same month last year.
Through the first five months of the county's fiscal year, the tourist development tax — paid by hotel guests throughout the
county — is up more than 6 percent over last year and is running about 5 percent ahead of budget. About $81.6 million has
been collected so far, according to Orange County Comptroller Martha Haynie. The 6 percent tax is charged on short-term
rentals, mostly hotels and motel rooms.” (Stratton , J. 2014, April 03).
According to Forbes, Orlando is the most visited city in the United States and it is treasured for its theme parks, but it is also
visited for its shopping opportunities for every budget, world-class resorts, all-season golf courses, and very good dining
opportunities (Forbes- Orlando , 2014).
Moreover, the following chart shows the incessant growth of the tourism in Orlando from 2010 to 2012, classifying tourists by
Domestic and International (Visit Orlando , 2014).
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Additionally, the following chart with data from 2013:
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Based on the information illustrated in the previous charts, we are sure the market for our service is going to keep growing.
Each year the number of tourists has been rising and the projection for this year is a 4.4% increase in international travelers in
relation to 2013.
Target Potential Clients
Potential Clients Growth 2015 2016 2017 2018
Domestic 10.00% 50000 55000 60500 66550
International 15.00% 10000 11500 13230 15210
Total
12.50
% 60000 66500 73730 81760
Advertisements:
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Evolutionary Events
Evolutionary Events LLC will run an aggressive advertising campaign to increase our target market’s awareness of our
company, unique services, and event management skills. Our company will not chose advertisements which cost a lot of
money, such as TV and radio advertisement, but we will choose those types of advertisements that can directly reach other
businesses, especially by identifying those businesses that have yearly events for their employees. Evolutionary Events will
invest in compiled lists of executives in our target market from marketing companies. This will help maximize our exposure to
our target market. Our company will advertise invest in direct marketing, search engine optimization, and banner ads.
Direct phone calls and direct emails are free of charge for employees to call or send direct email to target audience. The cost
for fliers and brochures purchased in bulk will be $4,200. We expect to incur this expense every quarter. In addition to these
forms of advertisements, the remaining budget will invested in marketing materials such as, booklets, business cards,
brochures, and customized pens. The chart below illustrates the marketing budget:
Marketing Campaign Estimated Annual Expense
Google Advertising $18,000
Trade Shows $30,000
Banner Ads $44,600
Direct Marketing $540,000
Email Marketing $60,000
Total: $692,600
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Evolutionary events will invest in printed booklets and custom pens to give to our potential clients. The costs for our marketing
materials are listed below.
Material Quantity Expense
Printed Custom Pens 250 $700
Engraved Custom Pens 250 $1,220
Color Booklet 10,000 $3,120
Brochures 100,000 $4,200
Business Cards 10,000 $490
Advertising message:
“Enjoy Your Events Like a Boss”
To capture the attention of Evolutionary Events LLC’s target market our company chose Enjoy Your Events Like a Boss,
because it will be directed to those who are trying to setup an event for their company or organization and the slang “Like a
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boss” means create a well organized and luxurious event. This message will be used in different advertisements including, our
company booklets, brochures, marketing emails and flyers that will be sent directly to potential clients.
As a measurement for effectiveness of this message; our brochures and catalogues will be analyzed by several marketing
students and professors, also we will have a survey for our clients about effectiveness of our overall marketing strategy and
marketing message with several questions about how they find our company and how they realize our advertisements and
marketing (Wouters, J., & Wetzels, M. (2006). Once again, the owners will use their connections to have this task completed at
little or no charge.
5.0 Operations Plan
This plan outlines the day-to-day operations of Evolutionary Events LLC. The operations plan gives insight to the human
resources aspect as well, to include personnel, wages and benefits of the staff. A breakdown of the facilities and equipment
illustrates the working space and the equipment needed to make Evolutionary Events LLC the working company that it is.
Technology will be essential for the demanding attention detail to provide companies the best events, so a plan will further
explore the needs of the ever changing technology. Then you will finally meet the management team and see an organizational
chart for Evolutionary Events LLC.
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5.1 Day-to-Day Operations
At Evolutionary Events LLC, our clients can expect great organization in all aspects of planning, hosting, and services when it
comes to corporate events.
What kinds of events are we talking about? They include:
• Celebrations ( promotions, commemorations and company retreats)
• Education (conferences, conventions, meetings, graduations)
• Promotions (fashion shows, conventions)
• Commemorations (memorials, civic events)
In managing the day-to-day operations of Evolutionary Events LLC, providing strategic guidance and creative direction, while
ensuring that all events produced through our office extend the presidential standard of hospitality and promote our mission
and value statements. Evolutionary Events will coordinate all aspects of events, from networking and business development
events to summits and investor conferences. We also handle the marketing, public relations, social media, and investor
relations. When working with Evolution Events LLC, it really depends on what our clients want—we plan entire events or
simply do day-of logistics. We can also develop and implement public relations and media campaigns for our clients.
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Planners of an event may handle any or all of the following tasks related to those events. The steps below are some of the
mandatory tasks that need to take place pre-event:
• Conduct research
• Create an event design
• Find a site
• Arrange for food, decor, and entertainment
• Plan transportation to and from the event
• Send invitations to attendees
• Arrange any necessary accommodations for attendees
• Coordinate the activities of event personnel
• Hire employees to work the event
• Supervise at the site
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• Conduct evaluations of the event
• Develop work plans and timelines that capture all event details
• Negotiate and contract with venue/vendors, securing the best possible accommodations and meeting space at
competitive rates
• Prepare logistics communications
• Finalize budget tracking document(s)
• Develop online registration system
The most crucial point of the event is making sure you have a checklist to go through as the event progresses.
• Develop detailed onsite schedule so each task has a project staff member assigned to it
• Provide attentive, friendly staff who coordinate with venue staff, vendors, event attendees, and Federal staff to ensure
an outstanding experience for all involved
• Set up staff registration/information table for additional meeting support
• Ensure that meeting space, audiovisual equipment, food and beverage services, and event materials are prepared
appropriately
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Post event follow up gives the company a chance to capitalize on all positive feedback any recent event’s reaction from the
registered guest.
• Provide the client with accurate, timely reports
• Process appropriate reimbursements and honoraria
• Finalize all meeting summaries and other wrap-up documents
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Evolutionary Events will be working with local photographers to capture memorable moments and event candid’s. This service
is an extra service clients can add to their package.
To assist the event planners some of the workload and daily functions will be handled is with our administrative staff that will
be responsible for our follow-up emails to registered members through online open enrollment. Once the clients have
registered, then we will receive email confirmations that list all of their information. For many event organizers email
responses and calls are a large part of their day to day workload. Working within an online system makes the above mentioned
task easier. Other responsibilities for Evolutionary Events staff will be in the form of payment processing. We will invest in a
online accounting and payment software with up-to-date and real time payment processing that informs merchant of valid
credit card information that deposits funds into Evolutionary Events account.
The chart before illustrates the event planning process Evolutionary Events will take:
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Evolutionary Events
As Evolutionary Events LLC grows, we will hire event planning professionals to meet our needs. We will require a minimum
of 3 years experience in corporate event planning to ensure quality.
In handling the anticipated growth an aggressive marketing campaign will create the kind of attention we need to get in order
to target the right type of organizations. Our sales and marketing plan will implement cost effectively, efficiently, and
consistently by eliminate the need for "cold calls!" There's no other sure way to gage the financial growth and progress of
your business. We need a realistic map for where the sales will come from, how they'll come and from whom. Using the
connections of the owners combined will increase our chances for success. Being a resource for our clients is the best
way to assure growth. With growth comes the management of cash and only cash flow can keep a company alive. The
partnership of owners has learned the importance of aligning performance measurement goals to our gross margin.
Our management team has studied various pricing strategies, contribution margins and how to stay on top of your cash
position every minute of the day if necessary.
Communication is vital to any growth and success in a business as there are many hurdles a business will face. We understand
even modest success can overwhelm the team unless we hire the right staff and delegate responsibility. Good communication
skills are the key to winning strong relationships. Having our main focus be solving our client’s needs will help to ensure this
type of culture is implemented.
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5.2 Human Resources
As a start-up event planning company, the staff of Evolutionary Events LLC will consist of 4 event planners; 3 event
assistants; 1 freelance event assistant; 1 information technologist; 7 sales/marketing and 1 secretary. Marlin McClendon and
Melissa Yakimetz will take on the roles of event planners and management. Over the first two years Marlin and Melissa will
receive the same income as other event planners. After two years raises will be given with the contingency of expansion. While
the median pay for event planners is $57,577 annually, the annual pay for our planners will be in the range from $45,000 to
$50,000 with the opportunity for an increase, in respect to growth of the company. The median pay for event assistants is
$45,607 annually; however, the two assistants and freelance assistant will be paid with a range from $36,500 to $39,900
annually. A further breakdown of our payroll is featured below:
Title Classification Staff Number Median Pay Evolutionary Events Pay
Event Planners 2managers,
1 operations
4 $57,577 $45,000-$50,000
Assistant
Planners
Other 3 $45,607 $36,500-$39,900
IT Asset
management
Administrati
on
1 $59,860 $49,900-$52,300
Marketing/Sale
s
Marketing/S
ales
8 $38,460 $32,300-$35,200
Bookkeeper/
Secretary
Other 1 $39,188 $37,125-$39,000
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Source: salary.com
Core Compensation Median % Total
Base Salary $57,777 68.8
Bonuses $1,424 1.7
Value of Benefits
Social Security $4,514 5.4
401K/403B $2,124 2.5
Disability $531 0.6
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Evolutionary Events
Healthcare $6,592 7.9
Pension $3,717 4.4
Time Off $7,262 8.7
Total $83,740 100
Source: salary.com
5.3 Facilities & Equipment Plan
As a service based company, our facility and equipment costs are very low. We will be renting furnished office space centrally
located on Major Boulevard, near the Universal Studios theme park, near Orlando, Florida. This location will be able to
accommodate our company as we grow. The office space offers a reception area, single and shared office spaces, and access to
conference rooms. The investment in office equipment does not have to be made until we can absolutely afford it; however,
office hardware such as laptops, cell phones, printers, and tablets will need to be purchased. Each office is equipped with a
desk, chair, filing cabinets, a landline, and internet connection. These offices cost $500/month for each office. This particular
building offers fiber internet connection for an additional $65/month which we will take advantage of(Parkinson, 2015). To
accommodate our 17 employees we will need a minimum of 5 offices, and one reception area. The sales/marketing team will
be working remotely and do not require office space.
A breakdown of our needs is as follows:
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Evolutionary Events
• $565/month * 5 Offices = $2,825/month
• $2,825/month * 12months = $33,900/ year for the first year.
A major benefit of renting this type of office space is the ability to pay for what we use/need. As a start-up company, furnished
office space is a great way to control our costs in our infancy stage.
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The current sales projections forecast steady growth allowing us to expand within the first 3 to 4 years. However, after two
years we will reevaluate our growth and sales forecasts as a deciding factor to expand to a larger building.
On average, each employee will need 90 to 150 SQFT of usable work space plus 125 to 200 SQFT for our receptionist
(Tenant's Rules of Thumb by Use). The average cost per SQFT for commercial office space is $1.25/SQFT (Wolfe). With this
data we can estimate our needs to be:
• 20 employees * 200 SQFT = 4,000 SQFT
• 4,000 SQFT * $1.25/SQFT = $5,000 for usable rental space.
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This calculation does not take in account for bathrooms and storage. We will estimate another 1500 square feet to be needed
for unusable rental space. To create an adequate estimate we have rounded the total number of square feet to 6000 SQFT.
Based on this information we expect to pay $7,500 a month for unfurnished commercial office space.
The cost of furniture will need to be accounted before we move to a larger location. To provide our associates with a functional
work space we will purchase large desks for collaborating. Assistants will work alongside event planners and will not need
their own private work space. We will only need 10 workspaces helping to control some of the costs. Each workspace will be
equipped with a desk, chair, phone, internet access, and a small filing cabinet.
Due to our type of service we are willing to invest more in our leased space to have access to high speed internet. Our industry
requires quick response times; a high speed internet connection will allow us to communicate with our clients efficiently.
5.4 Technology Plan
Evolutionary Events will use the latest technology with regards to our office equipment, software, and applications to make it
easier for the clients and employees to contact each other using the reliable technology that can help them in their day to day
business. As a new company with 17 employees, Evolutionary Events doesn’t need to spend a lot of money for to get the best
technology and its needs for starting the business consists of:
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• Laptops: we will need 16 laptops (I7 processor with 8 GB Ram and 750 GB hard drive) with cost of $400 each and
$6,400 in total (Laptops ).
• Desktop: We will purchase an all-in-one desktop computer for our secretary. This desktop includes a keyboard and
mouse and will have the CRM system as well as accounting software for simple data entry. The cost of this all-in-one is
$936 (Desktop).
• Website: Dynamic website with online support and ability to make changes and add information easily for our clients
with costs $350 from our sources in India.
• CRM: our company needs CRM cloud based application to organize client relationship managements that have ability
to support our accounting based on number of sales and income per month and our expenses. This application will be
developed by computer programmer in India which costs $600.
• Tablets: we need 15 windows based tablets that have ability to be connected to projectors with a big screen to give our
staff ability to present our company in different locations to our client s and clients which costs $400 each and $6,000
in total.
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• Printer: we will buy two wireless printers with fax and scanning capability for staffs need in the company and it will
cost $500 each.
• Networking: our company needs wiring and networking that can connect all computers to the main router that can
gather our company’s entire data base. This equipment will cost $1000 to bring specialist for wiring and to buy new
router that have ability to support up to 17 computers.
Evolutionary Events will use the above devices and applications to start our company. The technical requirements are proposed
to be $16,286. With having computer and network specialist in-house as one of the partners in Evolutionary Events, we will
handle the entire networking and computer need in-house and for very advanced services or issues that can’t be solved we will
use outside sources which are IT services companies in Orlando.
The chart below illustrates the expenses for our technology plan:
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Evolutionary Events
Devise Expense
Laptops $6,400
Desktop $936
Website $350
CRM $600
Tablets $6,000
Printers $1,000
Network Support $1,000
5.5 Management Team
Evolutionary Events LLC founding team members:
Daniel Jacobson
Recently retired from 20 years of serving in the United States Navy in the medical field, Dan brings with him experiences in
management, attention to detail, and organizing skills. Currently has a strong network system with local theme parks and is
always looking to enhance the experiences for event goers.
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Virginia McCann
As a Massage Therapist and business owner in the Orlando, Florida area for the past 8 years, I attend various conventions
throughout the year for continuing education courses and meetings with other massage therapists and business owners.
Through this I saw a great opportunity to invest in a company that provided a service to handle all the details that takes place in
putting conventions together.
Marlin McClendon
In my present role I manage the planning, documentation, and delivery of projects that relate to current projects and their scope
of work. I communicate on a regular basis with Management on the status of individual projects included in the program.
Negotiate delivery dates and scope using knowledge of the future state process and utilizing firm knowledge of the project
delivery cycle. Post implementation follow the health of the installation and assist process owners in Managing issues that may
arise with code defects or design that may negatively impact the customer experience. Negotiate and execute on a clean
transition from project to production with the appropriate process owner teams. Document all business requirements in the
appropriate format in a manner that describes the business needs and is supported by a process flow outlining the proposed
customer experience as appropriate.
Seyed Makan Ayoughi
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Seyed is qualified in Computer Network Engineering and Marketing management from Canadian university of Dubai and
Keller graduate school of management with 5 years of experience working for computer networking company as a consultant
and one year experience in sales and marketing for Air Pollution Control Company. With those experiences Seyed is
responsible for organizing sales and marketing management, IT consultant and website developments for the Evolutionary
Event Company in Orlando. As a part of marketing management, Seyed will organize advertisement to market the name of the
company in a best possible ways to spend less amount of money and get more client s with online and direct marketing.
Melissa Yakimetz
Melissa has worked as a project organizer for the past 7 years in the interior design industry. As the sole employee of an
interior design company Melissa was responsible for organizing and implementing all aspects of interior design projects
including but not limited to: full kitchen and bathroom remodels, designing and ordering customizable furniture, replacing
flooring, and designing and installing custom window treatments. In her spare time Melissa volunteers as the Event Chair for
Tech4Good Orlando. With a strong attention to detail and creative solutions Melissa will take the stress out of planning your
next event.
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5.6 Organization Chart
There are two divisions for Evolutionary Events LLC, operations and administrative. In the operations, there are the event
planners and event assistants and within the administrative division, we will have sales/marketing, IT and the secretary. This
allows the company the ability to operate seamlessly, each division will have manager that will be the head of that division.
One event planner will be a division head and the Sales/Marketing individual will be selected as the division head for the
administrative division.
5.7 Management Team Gaps
At Evolutionary Events LLC, we will experience growth throughout our first few years of establishment. Though we do not
currently have a CEO or Director of our company, that position will be filled once the company is showing moderate growth,
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our goal is to fill the Director position by end of our second year of operation. Another position that we are lacking that will be
filled by end of our first year will be a full time accountant or CFO. This position will allow us to continue to grow through
the advice of the CFO. Other positions for consideration upon further growth of the company:
• additional event planners
• additional event assistants
• Staffed photographer (with option of 2 more at year 2)
• additional secretary
As we move forward and continue to grow, it is a goal of Evolutionary Events to expand to other meeting destinations in the
state of Florida and the U.S. Once that occurs, our management team gap will need to adapt to the required needs for the
operation to maintain at its professional peak.
6.0 Financial Plan
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As a service base start-up company there is little funding required, and as the company continues to grow and expand, it takes
less monies to maintain. The following charts and graphs displayed within the financial section will illustrate that the initail
investment will allow Evolutionary Events to function debt-free with minimal overhead. This will also allow Evolutionary
Events the ability to reach the break-even point more rapidly and increase profit margins from the beginning. As Evoloutionary
Events continues to grow, we will continue with being debt-free until we are no longer able to function during our months of
growth with having financial assistance.
6.1 Start-up Funding
Evolutionary Events LLC is requesting funding from Pearsall Investments in the amount of $200,000 to start our business. All
owners will invest $20,000 of their own money towards the start-up venture capital.
Investor Role Investment Amount
Daniel Jacobson Silent Partner $20,000
Virginia McCann Silent Partner $20,000
Marlin McClendon Management/Operations $20,000
Seyed Makan Ayoughi Sales/Marketing $20,000
Melissa Yakimetz Management/Operations $20,000
Pearsall Investments Investor $200,000
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Total Investments $300,000
This capital is a sufficient amount to startup and run our business until we are able to turnover a
profit.
6.2 Use of Funds
Capital Expenditures
Our capital expenditures will be relatively low during the first two years. We will be renting a furnished office space centrally
located on Major Boulevard, near Universal theme park in Orlando, Florida. This location has the ability to accommodate up to
fifteen employees with group work spaces. Each office is equipped with a desk, chair, filing cabinets, a landline and internet
connection (Parkinson, 2015). Evolutionary Events will still need to purchase office items even though we will rent furnished
office spaces. We will need to purchase a large filing cabinet, two printer/scanner/copiers and a desktop computer for our
secretary totaling $2,456.00.
All employees will be given tablets as well as smart phones to work remotely. All employees will have laptops to work off of
in their workspaces. Event planners and assistants will work side-by-side tackling the action times for each event. All
employees except the secretary and IT will be given tablets to work remotely. The cost for a bundle purchase of phones and
tablets will cost $12,400.
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We received a group rate from AT&T for our mobile coverage. The mobile plan will be a shared plan for all of our employees.
AT&T offers unlimited talk and text for $100 per month, we are also able to add 30 GB of data for $225 per month, and there
will also be a $10 a month charge for each tablet on the account (AT&T , 2015). Once we being to expand Evolutionary
Events will look at adding more lines to our mobile plan.
Evolutionary Events will also invest in a CRM system to help manage our client’s data. We will purchase a customizable
system that will be developed by computer programmer in India which costs $600. This system will track customer data, and
will store past event data including venue, hotels, attendees, and budget. This will help streamline our processes especially
when we begin to have a number of events at once. Using the system as a lessons learned databank will allow our event
planners to plan future events for returning customers much easier.
After the second year we plan to expand by reinvesting into the company. As we grow, we will hire more employees to cover
the expansion and increase in events. At this time we will need to invest in our own office equipment. This cost is estimated at
$13,000.
Below is a table summarizing our office furniture needs:
Equipment Price Quantity Total
Office Chairs $100 20 $2,000
Open concept work spaces $400 15 $6,000
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Conference room table $600 1 $600
Conference room chairs $100 8 $800
Secretary’s desk $600 1 $600
Filing cabinet $150 20 $3,000
TOTAL: $13,000
Staffing Budget
As a start-up event planning company, the staff of Evolutionary Events LLC will consist of 4 event planners; 3 event
assistants; 1 freelance event assistant; 1 information technologist; 7 sales/marketing and 1 secretary. Marlin McClendon and
Melissa Yakimetz will take on the roles of event planners and management. Over the first two years Marlin and Melissa will
receive the same income as other event planners. After two years raises will be given with the contingency of expansion. While
the median pay for event planners is $57,577 annually, the annual pay for our planners will be in the range from $45,000 to
$50,000 with the opportunity for an increase, in respect to growth of the company. The median pay for event assistants is
$45,607 annually; however, the two assistants and freelance assistant will be paid with a range from $36,500 to $39,900
annually. A further breakdown of our staffing budget is below:
Title Classification Staff Number Median Pay Evolutionary Events Pay
Event Planners 2managers,
1 operations
4 $57,577 $45,000-$50,000
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Evolutionary Events
Assistant Planners Other 3 $45,607 $36,500-$39,900
IT Asset
management
Administration 1 $59,860 $49,900-$52,300
Marketing/Sales Marketing/Sales 8 $38,460 $32,300-$35,200
Bookkeeper/
Secretary
Other 1 $39,188 $37,125-$39,000
Freelance event assistance will be hired at an average of $24/hour when needed to assist the staffed event planners.
Evolutionary Events will offer mileage and gas reimbursement to employees for the first two years. During the third year we
will complete a financial analysis to test our feasibility to lease or buy a vehicle.
Professional Expenses
Within the first year, we expect our events to be about 4 hours long on average. Based on this and the average rate of
$150/hour for a photography team we expect our expenses to be about $15,600 (See Appendix B for complete email
correspondence). Within the second and third year we expect the event time to increase due to the number of retreats and expos
we will be planning. This in turn will increase our professional photographer expense. The tables below describe the sales
projections for the memories and marketing package and professional photography and graphics expenses.
Year Sales
Projections
Average event
time
Average
photography rate
Total
professional
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Evolutionary Events
(hours) expenses
1 26 4 $150 $15,600
2 129 7 $150 $135,450
3 140 8 $150 $168,000
4 160 8 $150 $192,000
5 240 8 $150 $288,000
Year Sales
Projections
Average event
time
(hours)
Average graphic
designer rate
Total
professional
expenses
1 16 4 $28 $1,792
2 24 7 $28 $4,704
3 25 8 $28 $5,600
4 29 8 $28 $6,496
5 33 8 $28 $7,392
Marketing Budget
Evolutionary Events LLC will run an aggressive advertising campaign to increase the target market’s awareness about
existence of our company and give them the information about our unique services and event management. Our company will
not chose advertisements which cost a lot of money, such as TV and radio advertisement, but we will choose those types of
advertisements that can directly reach other businesses, especially by identifying those businesses that have yearly events for
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Evolutionary Events
their employees. Our company will advertise with social media, search engine optimization and direct mail. Research shows
that online advertisements were very successful for special events companies and it has high rate of return with lower
expenses.
• Google Advertising: our company will advertise in Google using Google Ad-words and Click-through rate (CTR).
Those ads are counted as our target market click through our website and enter our website to read information and our
contact detail. Those advertisements will cost Evolutionary Event Company $1 per click and we have ability to control
the price and set our budget per month for these ads. Our company will cost $1500 per month for 1500 click through
our website.
• Exhibitions and trade shows: Evolutionary Event Company will participate in two trade shows per year in different
industries as well as participation in our client’s trade shows and exhibition that held more than 1000 people from
different companies. According to exhibitusa in a regular trade shows and exhibitions in USA will cost $25,200 per
trade show for 20*20 floor spaces. The total costs for trade shows will be $30,000 with its hidden costs which are
planning, setup and tear down, shipping and storage, sales literature and other costs for employees (E & E Exhibit
Solutions , 2014).
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Evolutionary Events
• Websites banner Ads: according to quirks.com side box ads with 100% of all page visitors will cost $6000 every six
month in most famous websites around US. Our company will have four advertisements for first year that will cost
$44,600 with 10% discount for one year contracts.
• Direct Marketing: We plan on purchasing a list of companies and executives that fit in our target market/meet our
market demographics. We will have 5 sales associates who will travel the U.S. for the first two years introducing our
company and meeting with corporate executives. These employees will also be responsible for following up with the
companies they meet with. Travel expenses are projected to be about $25,000 a month for the first year. Entertainment
will be about $20,000 a month.
• Email marketing: before peak seasons we will utilize email marketing campaign. We will invest in the purchase of
email address from a marketing company that fit our segmented market. We anticipate this cost to be about $5,000.00.
Marketing Campaign Estimated Annual Expense
Google Advertising $18,000
Trade Shows $30,000
Banner Ads $44,600
Direct Marketing $540,000
Email Marketing $60,000
Total: $692,600
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Evolutionary Events
Marketing Materials
Evolutionary events will invest in printed booklets and custom pens to give to our potential clients. The costs for these
marketing materials are listed below.
Material Quantity Expense
Printed Custom Pens 250 $700
Engraved Custom Pens 250 $1,220
Color Booklet 10,000 $3,120
Brochures 100,000 $4,200
Business Cards 10,000 $490
Operations
We will be renting a furnished office space centrally located on Major Boulevard, near Universal theme park in
Orlando, Florida. This location has the ability to accommodate up to fifteen employees with group work spaces. Each office is
equipped with a desk, chair, filing cabinets, a landline and internet connection. The rate for these offices spaces is $500 per
month for each office which includes utilities and janitorial expenses. This particular building offers fiber internet connection
for an additional $65 per month; we will take advantage of this amenity to help reduce our start-up expenses (Parkinson, 2015).
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Evolutionary Events
Office Supplies
Supply Cost per unit Quantity Total
Ink 61.98 5pk black/color
ink
4 $248
Paper 10 reams per case for
$39.88
2 $80
Pens 2 Box of 60 for $5.38 2 $11
Paper Clips 8 boxes of 100 for $4.98 $5
Filing cabinets 2 drawer cabinets
149.98
15 $2,250
Folders 150 ct file folders
@7.27
6 $44
Wireless mice 14.58 20 $150
Large whiteboard for
event schedule &
makers and erasers
$150.00 $150
Headsets 19.98 20 $400
Tissues 12 pk Kleenex @ 14.98 2 $30
Hand sanitizer 12 ct. @ 48.88 1 $49
20 Binders 8 binders for $11.57 8 $35
600 sheet protectors 3 packs for $9.88 3 $30
Post-it notes 12 packs for $14.48 4 $58
Sign & Date post-its $9.38 2 $19
Information retrieved from SamsClub.com
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Evolutionary Events
Taxes
Social Security 12.4% on first $117,000
Medicare 2.9%
Total FICA 15.3%
http://www.moneychimp.com/features/tax_brackets.htm
After the second year we plan to expand by reinvesting into the company. As we grow, we will hire more employees to cover
the expansion and increase in events. At this time we will need to invest in our own office equipment.
6.3 Sales Forecast
Sales Description
Evolutionary Events offers a variety of packages to meet the needs of our clients and our target market. Along with our event
planning services we also offer special packages to help our clients make the most of their corporate events. These packages
include a marketing and memories package. Our pricing strategy is in line with our competitors. Evolutionary Events
competitive advantage is a personal liaison reachable day or night and within our clients accommodations. The liaison greets
our clients at the airport and is the face of Evolutionary Events.
Pricing structures for the event planning industry is based on sales, reputation, and experience. As a startup company we
realize we cannot charge the same as a company who has been in the industry for five or more years. We also realize that we
need to keep our prices competitive within the industry standards, so we will be able to secure our place within the event
planning industry as a competitor. Evolutionary Events employs event planners with a minimum of ten years’ experience in
various fields including, event planning, project management, as well as the marketing industry. According to About Money,
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Evolutionary Events
“experienced event planners should be comfortable with charging between fifteen and twenty percent of the total cost of an
event as part of their fee” (Hard, 2015).
Corporate event planners generally have a determined fee for their services as well as handling charge for each item
contracted. Again this fee is typically between fifteen and twenty percent for experienced event planners. According to Patty
Sachs, “corporate event planners will also use a project fee when corporations hold large events and they have a ‘not to
exceed’ figure. The typical hourly rate for this type of event is between $16 and $150, plus vendor commissions” (Kimball,
2014).
The following table shows the pricing structure for Evolutionary Events which will entail an hourly rate plus a percentage for
all expenses. The table also provides a description of each package provided by evolutionary events. The marketing and
memory packages will be outsourced to local companies in order to help keep costs low, especially within our first two years.
We may revisit this after year two to see if it would be profitable to keep these in house rather than continue to outsource.
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Evolutionary Events
Package Price Structure Package
Arrangements
Corporate Events
Graduation Ceremonies for
Universities
Business seminars
Corporate Lunch-ins
Corporate excursions/
retreats (team building)
End of Year events
$65 Hourly rate +
10% of total expense
Agenda planning and
disbursement
Travel & hotel
accommodations
Space planning
Venue management
Risk management
Arranging keynote speakers
Registration
Family activities
Corporate
Conventions
Expos
Tradeshows
$80 Hourly rate +
15% of total expense
Agenda planning and
disbursement
Travel & hotel
accommodations
Space planning
Venue management
Risk management
Arranging keynote speakers
Registration
Booth Setup & clean up
Demonstration agenda
Family activities
Event Add-on Price Structure Package Details
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Evolutionary Events
Marketing Package
$750 Flat fee+ additional
expenses
Corporate photo shoot
Candid photos
Customizable marketing flyer with
photos and event synopsis
Corporate photo album with
company name and event synopsis
Easy ordering for prints
Memories Package
$500 Flat fee + additional
expenses
Corporate photo shoot
Candid photos
6 Page Photo Album with company
name
Family photo shoot
Easy ordering for prints
The packages will need to be booked in advance as these services will be outsourced. For both packages Evolutionary Events
will have a flat fee for six to eight hour blocks of time plus additional expenses such as any park admissions and parking fees
that will be incurred by our company. Memory packages are offered and designed to showcase all the memories for our clients
and their families.
Sales Forecast
According to IBISWorld, the annual growth rate for the event planning industry is 2.5%. There is currently 179,944 businesses
in the event planning industry; however, the specialty of corporate event planners is much smaller (IBISWorld, 2014). We will
stay close to the market growth rate and our competitors to keep our prices competitive; we will follow a 5% growth each year.
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Evolutionary Events
Sales 2015 2016 2017 2018 2019
Graduation
Ceremonies
Based on 5
ceremonies
$23,400 $24,345 $24,832 $25,329 $25,835.49
Business Seminars
Based on 87
seminars
$1,357,200 $1,412,031 $1,440,271 $1,469,077 $1,498,458
Corporate Lunch-
ins
Based on 19 events
$197,600 $205,583 $209,695 $213,889 $218,166.37
Variable Income 10% 10% 10% 10% 10%
Corporate
Excursions/retreat
s
Based on 5 events
$130,000 $135,252 $137,957 $140,716 $143,530.50
End of year events
Based on 4 events
$52,000 $54,101 $55,183 $56,286 $57,412.20
Expos
Based on 5 events
$160,000 $166,464 $169,793 $173,189 $176,652.93
Trade shows
Based on 1 event
$48,000 $49,939 $50,938 $51,957 $52,995.88
Based on the sales forecast and with the consideration of our sales capacity of 5 graduation ceremonies, and 87 business
seminars Evolutionary Events can set short-term goals and create plans to expand over the next five years. The variable income
for the events will be reinvested into the company. Florida has seen a steady increase in tourism. Florida continues to be a top
tourist destination with a total of 94.7 million visitors in 2013 and nearly 95 million in 2014 (Kennedy, 2014). Due to the large
75

Evolutionary Events
number of visitors traveling to Florida each year and that number increasing, Evolutionary Events can easily experience a
constant growth with the ability to expand into international markets. The events planning industry experienced $4 billion in
revenue including the international market (IBISWorld, 2014).
The above bar graph indicates business seminars will be the main source of revenue for Evolutionary Event. Corporate lunch-
ins will generate our secondary source of revenue. The main focus of Evolutionary Events will be to ensure that all events are
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Evolutionary Events
successful and that our clients are pleased with the work of Evolutionary Events ensuring word of mouth recommendations and
repeat business.
Graduation ceremonies will take 120 hours of planning time. In most cases this planning will be done over the course of one-
two months. In other words, when a contract is active, not all time is allocated to just one specific project. This is a realistic
time frame since Universities are located within Orlando and they do not require extensive planning.
Business Seminars are slightly harder to forecast due to the scope of each seminar. Some seminars will take more time to be
able to cover all the details. The average time to plan a business seminar is 240 hours.
Corporate excursions requires extensive planning and coordination, these events will be time consuming to organize due to the
number of details to be arranged. We expect to excursions to take 400 hours to plan.
Evolutionary Events expects end of year events to be booked by companies located within Florida. Not many companies travel
for holiday/celebration events. Due to the location of these companies the planning process will be less cumbersome. We
expect the planning process for these events to be 200 hours.
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Evolutionary Events
Expos will also take an extensive amount of time to plan and organize. Depending on the size of the booth we expect expos to
take between 300-400 hours of planning time. Our sales projections represent a 400 hour time frame due to our limited
resources.
Trade shows require the most planning and organization. We anticipate the planning process to take 500-600 hours. Our sales
projections represent a 600 hour time frame due to our limited resources.
All of our sales projections are based on the assumption that we will have repeat business from our close contacts and clients.
Evolutionary Events expects to have peak seasons for each of our events. We are anticipating our graduation ceremonies to
take place mainly in the months of May and June, with a couple in January for those Universities that hold ceremonies more
than once a year. We also anticipate that we will have a higher volume of sales in the months of May, June, July and August
for our Corporate Excursions/Retreats due to many families being out of school for summer vacations. End of year events are
expected to peak in the months of November, December, and the beginning of January. Evolutionary Events is expecting to
see a decline in sale volume for our Business seminars in October due to this being the end of the fiscal year for many
corporations.
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Evolutionary Events
According to TransAmerica Expo, “on average, seventy events are held annually, including trade fairs, conferences, corporate
events, graduation and year end parties. These events usually last on average one week” (VILLAS BOAS RODRIGUES,
2014).
Event Peak Season Months
Graduation Ceremonies May, June1
Business Seminars October will be less due to
fiscal year
Corporate Lunch-ins All months except holiday
months
Corporate
Excursions/Retreats
May, June, July, August
Expos All expect holiday months
Trade Shows All expect holiday months
End of Year Events November, December,
January
Marketing Package All
Memories Package All
http://www.answers.com/Q/What_month_do_college_graduations_occur
6.4 Cash Flow
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Evolutionary Events
Evolutionary Event’s cash position is positive. We begin our start-up with very little extra cash; however, our ability to
increase the growth of our company allows for us to create a positive cash flow in a timely manner. Our cash balance begins
in the positive and throughout the first year we maintain a negative cash balance. We maintain this negative cash balance until
the very end of our first fiscal year (See Appendix D for monthly cash flow statements for year 1 and 2) . The entire second
year we see a positive cash balance.
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Evolutionary Events
Evolutionary Events will receive sixty percent of their fees at the time the contract is signed, once the process has reached the
half way point we then receive another thirty percent as a progress payment, we receive the final ten percent once the event has
been completed. Receiving a bulk of the fees up-front allows Evolutionary Events to utilize these funds for operational
expenses.
The following table is a detailed summary our annual cash flow:
FY1 FY2 FY3 FY4 FY5
Opening Cash
Balance
$5,000 $150,384 $3,140,948 $6,798,195 $19,491,621
Cash Receipts
$2,297,99
9
$5,704,096 $7,236,367 $9,214,336 $11,763,959
Cash
Disbursements
$2,152,61
5
$2,713,532 $3,579,120 $3,928,258 $4,356,641
Ending Cash
Balance
$150,384 $3,140,948 $6,798,195 $12,084,303 $19,491,621
See Appendix D
Our sales projections are based on the assumptions of the owner’s personal network will provide a foundation of our clientele,
and we receive a high return on investment for our marketing campaign.
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Evolutionary Events
At the end of our second fiscal year we will complete an analysis of our market position as well as complete a financial
analysis to test the feasibility of expansion.
The chart below is a summary of our annual estimated cash flow:
Year Ending Cash Balance
1 $150,384
2 $3,140,948
3 $6,798,195
4 $12,084,303
5 $19,491,621
6.5 Balance Sheet
Evolutionary Events is set for success. According to our balance sheet numbers, we have a slow start, but end up very
profitable (See Appendix E for our annual balance sheets). According to the FY2019 balance sheet on the following page,
Evolutionary Events will have a net worth of over $20 million, a return on investment of fifty-five percent and a return on sales
of seventy-one percent.
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Evolutionary Events
We are operating on minimal
debt, that debt only being
taxes, as we were able to
maintain the company on our
initial investments, this has
allow our net worth to increase
exponentially.
83
Balance Sheet
Evolutionary Events
2019
ASSETS
Current Assets
Cash $19,491,621
Accounts Receivable $0
Inventory $612,993
Other Current Assets $0
Total Current Assets $20,104,614
Fixed Assets
Land $0
Facilities $0
Equipment $0
Computers & Telecommunications $35,256
(Less Accumlated Depreciation) $22,514
Total Fixed Assets $12,742
Other Assets $0
TOTAL ASSETS $20,117,356
LIABILITIES
Current Liabilities
Short-Term Notes Payable $0
Income Taxes Due $6,808,584
Other Current Liabilities $0
Total Current Liabilities $6,808,584
Long-Term Liabilities
Long-Term Notes Payable $0
Other Long-Term Liabilities $0
Total Long-Term Liabilities $0
NET WORTH
Paid-In Capital $305,000
Retained Earnings $13,003,773
Total Net Worth $13,308,773
TOTAL LIABILITIES AND NET
WORTH
$20,117,356

Evolutionary Events
6.6 Income Statement
During the first year we will invest almost $200,000 for our marketing budget. This amount will allow us to hire a sales team
to meet with executives, web optimization, participate in a trade show, and direct mail advertisements.
The following table is a summary of our project annual net income.
Year Net Income
1 ($20,117)
2 $2,009,331
3 $2,426,434
4 $3,446,520
5 $4,762,228
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Evolutionary Events
Below is our first year net income at a glance:
At the end of our second fiscal year we will complete an analysis and test the feasibility of expansion. The expansion has been
taken into account while completing the sales projections. We have also aligned our sales projects with the industry growth
rate of 2%. As Evolutionary Events expands we will hire more employees to compensate for the increasing workload.
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Evolutionary Events
At the end of the fifth fiscal year Evolutionary Events estimates a 55% return on investment. This estimate was calculated by
dividing the net operating income by the net worth.
ROI Equation
$7,326,504
$13,308,773
6.7 Break-Even Analysis
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Evolutionary Events
Our sales projections indicate Evolutionary Events will start to make a profit in the fourth quarter in our first year. The entire
second year we show promising net profits, which will allow us to expand in April of 2107. The break even analysis is based
on the premise that we will be able to create 18 events per month and average $21,829 per event. In our current position, we
average more than this premise for our business seminars and our corporate lunch-ins. These events presently makeup 9 of the
107 events created per month. Evolutionary Events break-even point will occur more rapidly than many other service base
companies due to our market campaign and the growth of the industry. Our start-up costs are minimal due to our low capital
expenditures, a small staff, and outsourcing professional services.
6.8 Valuation after 5 years
Evolutionary Events used the Gordon Model to calculate the valuation after year 5 because our exit strategy is a buyout.
CFTY = $20,117,356
g = 2%
ks = 15%
TV = $20,117,356 (1 + .02) / (.15 - .02) = 20,519,703 / .13
TV = $157,843,869
The fomula used to calculate our discount rate is:
ks = krf + (kM – krf)(b)
Krf = 2.57
Km = 15%
B = 1.0
Ks = 2.57 + (.15-2.57)(1.0) = .15
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Evolutionary Events
Risk free rate of return was found using the current yield to maturity of a ten year treasury bill; 2%. Beta was estimated at 1.0
to be an average risk based on the market conditions and industry growth (Government, 2015).
6.9 Exit Strategy
At the end of FY2019 Evolutionary Events owners its investor will have a meeting to determine the future of the company.
Each owner and investor will review the financial documents from conception of the company to the present. They will
determine if the company has been profitable over the course of five years and if it is worth keeping or if they would like to
consider a buyout option. In the event of a buyout each owner and the investor will be offered the option to buy out any owners
who would like out of the company. The company’s net worth will then be divided by the number of owners in this case it will
be divided by six; at FY2019 Evolutionary Events is worth $20,198,864. Each owner and the investor would be entitled to
$3,366,477 as a buyout option. If all the owners and the investor would like out of the company then Evolutionary Events
would be offered to the public for sale of company; asking price for the company would $21 million USD. This is a fair asking
price for the company as it has shown to be very profitable over the course of five years, and shows great potential to continue
to be very profitable for many years to come.
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Evolutionary Events
References
2012 Economic Significance Study - Key Findings. (2012). Retrieved from Convention Industry Council:
http://www.conventionindustry.org/ResearchInfo/EconomicSignificanceStudy/ESSKeyFindings.aspx
About Us. (2015, January). Retrieved from Encore Creations: http://www.encorecreations.com/about-us/
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