The document outlines a comprehensive business plan for an event management firm, emphasizing the importance of defining the business's mission, vision, and unique offerings. It highlights the need for market analysis, understanding competitors, and developing effective marketing strategies to differentiate from others in the industry. Additionally, it discusses financial projections, including expenses and revenue forecasts, to ensure long-term viability and growth.

1. EVENT MANAGEMENT BUSINESS PLAN

2. Write a Summary
Write a description for your event planning idea.
This should be the overview of your firm and
should include all the aspects from crop to cup.

3. Explain the key features of your business
Write about the overview of the market you are going
to cover
Have a study about the market players dominating in
the event industry
Learn about the marketing strategies you are going to
implement
You must have a clear idea about the funds you need to
seek from your investors(ongoing research and
development, working capital, market expenses etc.)
Your mission and vision should be clear
You should focus on the core values and that should be
exceptionally better than the rests.

4. Your Business Offerings
Event management is a vast industry; special events
occur for the following purposes:
Celebrations (fairs, parades, weddings, reunions,
birthdays, anniversaries)
Education (conferences, meetings, graduations)
Promotions (product launches, political rallies,
fashion shows)
Commemorations (memorials, civic events)
You must have a clear idea what you will offer. Either
you can choose an individual purpose or you can
serve for all.

5. Market Analysis
When it comes to analyzing the market for a business
like event management you need to consider every
possible aspect. Market analyses is not an easy task, it
has been bifurcated into three-
Market Overview- It is where you need to understand
the event industry and must be aware of all its pros and
cons.
Target Market- Here you need to understand where
you are starting your business and what is the scope
there.
Market Opportunities- You require to have an idea
about where and how you are going to stand in the
near future.

6. Competitive Analysis
You must be aware of all your competitors and their
key aspects. You must even have a detailed analysis
of the products and services they cater.
You should employ powerful and innovative services
like no one else. There must be some unique services
offered by you.
For example: You may have a provision of renting
clothes for a theme party.

7. Marketing Plans
There is an enormous growth in the event
management industry in the past decade. Hence, there
are a lot of competitors prevailing here.
In order to stand among these dominating competitors
you must follow tenacious marketing strategies.
You must outline your pricing strategies, what
services will you offer, what would be price per
service and what benefits you will if one cater your
service.

8. Some of the prominent examples are-
Augment on-line and social media marketing with
off-line marketing.
Connect with hotels, resorts, event
venues, and catering firms to identify special packages
to market to clients.
Contact relatives, friends and former colleagues and
remind them that referrals are welcome.
Advertising and Promotion- Several forms of
advertising and promotion will be used including a
website, partnerships/ networking with the Chambers
of Commerce, and participation at various tradeshows.

9. SWOT Analysis
Strength
 Team of expertise members
 Exceptional customer service
Mention the strengths of your
firm
Weakness
Low budget
Less experience
Mention your weakness so that
you can overcome them in the
future
Opportunities
High potential market
Customers with growing trends
Give the external opportunities for
the event management business
Threats
Existing dominating competitors
New entrants with low pricing
strategy
Provide the external threats of the
event management business of
yours.

10. Expansion Plan
Give the details about the expansion of your Event
Management business which should include the
following details-
At what location you will expand your business in
the near future?
Who would be your competitors in the target
market?
What new services will you implement in the near
future?

11. Financial Projection
Make the financial projection of your event management
business highlighting the goals for sales and profits.
All the costs such as rent supplies, utilities expenses,
travelling charges, employee salaries and other overheads,
must be considered.
Project your revenue, profits and losses, breakeven
analysis etc must be calculated for at least five years to
step on a safer path.

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