Regardless of which one you choose, you will need a general business license. If you also use a trade name such as "Eventful Event Planing," as a doing business as DBAor you are partnership, to do business a name other than your full legal nameyou also need a DBA doing business as certificate filing. If you buy wholesale, or will sell any type of event planning items such as decorations, utensils, food, equipment settings, etc, in small or large amounts, you will need a sellers permit also called a resale license or state ID.
Strategic Analysis with current research! The Banquet Hall, Inc. The Company was founded by John Doe. The business will only host one event per day, which will allow clients privacy while they celebrate their wedding or event.
The venue will feature a beautiful banquet hall that will be developed from a converted home. The grounds will feature immaculate grounds keeping and landscaping. The third section of the business plan will further describe the services offered by the Banquet Hall.
The interest rate and loan agreement are to be further discussed during negotiation. The financing will be used for the following: Doe has more than 10 years of experience in the events planning and management industry.
Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations. Doe expects a strong rate of growth at the start of operations.
Below are the expected financials over the next three years. The Company is registered as a corporation in the State of New York. Below is a breakdown of how these funds will be used: Doe is not seeking an investment from a third party at this time.
Doe may seek to sell the business to a third party for a significant earnings multiple.
Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Banquet Hall. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings. The facility will feature an immaculate garden and landscaping. The business will also partner with events and wedding planners that operate within the New York area.
Currently, the economic market condition in the United States is moderate. The meltdown of the sub prime mortgage market coupled with increasing gas prices has led many people to believe that the US is on the cusp of a double dip economic recession.
This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. The US Economic Census indicates that there are approximately 5, companies that specialize in the rental of banquet halls and event locations.
The growth of this industry has remained in lockstep with the growth of the economy in general. Management has outlined several demographics among its target client market, including: The key to writing a strong competitive analysis is that you do your research on the local competition.
Find out who your competitors are by searching online directories and searching in your local Yellow Pages.
Below is an overview of the marketing strategies and objectives of the Banquet Hall. The foremost marketing strategy that the business will use, will be to develop connections with local event and wedding planners so that the business can continually book events through these planners.
This will greatly decrease the amount of advertising required by the business as once a rapport is established with these vendors, they will continually refer business to the Company. Banquet Hall will also maintain a strong level of print and media advertising among local newspapers, event planning publications, and other news medium.
The business will also maintain listings in the local Yellow Books. The facility will also maintain a website that has a virtual tour of the facility in addition to standard contact information and booking resources.
You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically.
This section of the business plan should not span more than 1 page. For each owner or key employee, you should provide a brief biography in this section. Banquet Hall is offering a reasonably priced venue for wedding and banquet events.Free Wedding Venue Wedding Venue Sample Business Plan for Wedding Venue Wedding Planning And Wedding Venue Business Start Wedding Venue Wedding Venue Business Plan Examples Augusta, MI, event venue: Event planning Licensing You first need to select the business structure among a sole proprietor, a partnership, Corporation or LLC for your event planning business.
Catering and Ballroom Rental Business Plan. Strategy and Implementation Summary. Sumptuous Cuisine Catering intends to open The Sumptuous Ballroom, an event venue in Doeuvreville.
The ballroom will be purchased from the previous owner, the city of Doeuvreville, which used the space as a community center until it was abandoned one /5(49). Related: Event Planning Sample Business Plan Below is a briefing of several places of interest and their various attractions.
Mokolodi Nature Reserve: Set in a wide valley just 10 minutes drive from the city, this scenic reserve offers a well-developed network of game drives and stone and thatch chalets overlooking a water hole.
This is the reason why this wedding venue business plan sample is written to act as a guide for setting up a thriving business. Executive Summary The Events Place is a wedding venue business which will be based in Memphis, Tennessee.
Sample Business Plans Event Planning Sample Business Plan. Starting up a company that offers personal event planning will mean including some of these important points in the business plan.