Business Plan Final Copy Wedding Mart Doc

8/10/2019 Business Plan Final Copy Wedding Mart Doc

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MGT 368.2Business Plan

Company: Wedding MartCategory: Wedding Related Products !er"ices.

Industry Analysis

#"ery $usiness operates %it&in t&e larger classi'ication o' an industry. We tried our $est in our $usiness plan to address t&e 'orces at %or( in our industry) t&e $asic trendsand gro%t& o"er time and %&ere our company 'its in. understanding and anticipatingt&e important 'actors o' our industry $uilds a case 'or our $usiness*s success. T&issection o' t&e $usiness plan %ill include an o"er"ie% o' t&e industry sector t&at our

$usiness %ill $e a part o') including industry trends) ma+or players in t&e industry) anda summary o' our $usiness,s place %it&in t&e industry.

F UTURE O UTLOOK AND T RENDS

Marriage is a "ery important part o' e"ery Banglades&i people*s li'e. -o% it &as

$ d i & i i di'' d / i l % %


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$ t d t i t& i i di'' t d / ti l % %



ANALYSIS OF C OMPETITORS

Criteria -ame o' T&e Competitor

#/isting #"ent Management irms Triune #/&i$ition #"ent

Management !er"ices 7T##M! .0 B0TR9!!0uto4en.in'o #"ent Management.

isionary #"ent Mgt td.Golden Bengal Tours and e"entmanagement.

Wedding dresses

or Women

or Men

Mirpur Benarosi Palli

!&oppers World9ne !top Mall 0lmas0arong

Reymond!unmon

l


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Mar(et segmentation is a "ery important 'actor 'or e"ery ne% $usiness. Mar(etsegmentation is t&e identi'ication o' portions o' t&e mar(et t&at are di''erent 'rom oneanot&er. !egmentation allo%s t&e 'irm to $etter satis'y t&e needs o' its potentialcustomers. We %ill do t&e target mar(eting instead o' mass as target mar(eting on t&eot&er &and recogni es t&e di"ersity o' customers and does not is to identi'y di''erent

mar(et segments and t&eir needs. 1n t&is part %e %ill 'ocus on speci'ic mar(et) %&o%ill $e our customers) $usiness en"ironment o' t&at mar(et segment) and t&egeograp&ic area %&ere our $usiness %ill compete. T&is part is signi'icantly important'or preparing our mar(eting plan. We %ill segment our mar(et $ased on t&e 'ollo%ing"aria$les:

o -eedso Pro'ilerso Geograp&ico 4emograp&ico Psyc&ograp&ico Be&a"ioral


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o Demographic Segmentation:

4emograp&ic segmentation is $ased on "aria$les suc& as age) gender) et&nicity)education) occupation) income) and 'amily status. 0s %e said %e are mainly targetingt&e &ig&er class people. !o t&eir income le"el s&ould $e "ery &ig&. 0lso %e %ill $e'ocusing on t&e $usiness people as %ell as ot&er &ig& ran(ing +o$ &olders. #ducationle"el o' our target customers is a "ery important 'actor $ut it does not apply to allclass people as it %ill allo% t&em to go 'or t&e &ig& uality products e"en it t&ey are"ery e/pensi"e. We %ill collection 'or $ot& men and %omen %edding t&ings. !o aretargeting t&e $ot&. 0ge limit 'or our target customers are 2> years $ut it*s not t&atot&er t&is age limit ot&ers cannot come and go s&opping at our s&op. 0t last $ut not

t&e least %e %ill $e targeting mainly @indu and Muslim. But ot&er religion people isal%ays %ell come to our s&op.

o Psychographic Segmentation:

Psyc&ograp&ic segmentation t&e di"ision o' a &eterogeneous mar(et into relati"ely&omogeneous groups on t&e $asis o' t&eir attitudes) $elie's) opinions) personalities


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"ery lo% price sensiti"e so t&at t&ey do not s%itc& to a c&eaper $rand i' priceincreases 'or any "alid reason.

INDUSTRY F ORECASTS

Today in'ormation and communication tec&nology is progressing at a 'aster and 'aster pace. 5no%ledge and ot&er assets are rapidly $ecoming de"aluated and outdated%&ile traditional $usiness models are replaced $y ne% models. 1n t&is c&anging

$usiness en"ironment) industry 'orecasting %ill &elp us a lot to s&o% t&e $ig picture )comprising o' aspects o' tec&nology) society) economy) politics) customers andcompetition. =nderstanding rele"ant trends and possi$le outcomes pro"ides insig&t tosupport 'ruit'ul $usiness strategies %&ic& lead to success'ul $usiness decision


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PEST A NALYSIS

T&e P#!T analysis is a use'ul tool 'or understanding mar(et gro%t& or decline) and assuc& t&e position) potential and direction 'or a $usiness. P#!T analysis measures t&emar(et potential and situation) particularly indicating gro%t& or decline) and t&ere$ymar(et attracti"eness) $usiness potential) and suita$ility o' access.

o The PEST tool ta le:

P9 1T1C0 #C9-9M1C

# l i l "i l i 9" i d d


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!9C10 T#C@-9 9G1C0

i'estyle trends

4emograp&ics

Consumer attitudes and opinions

Media "ie%s

a% c&anges a''ecting social 'actors

Brand) company) tec&nology image

Consumer $uying patterns

Ma+or e"ents and in'luences

0d"ertising and pu$licity

Competing tec&nology de"elopment

0ssociated dependent tec&nologies

Replacement tec&nology solutions

Maturity o' tec&nology

1n'ormation and communications Tec&nology legislation

1nno"ation potential

1ntellectual property issues


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o Economical !nalysis:

#"ery $usiness s&ould consider t&e trends in t&e G-P) unemployment $y geograp&icarea) disposa$le income. We &a"e products to sell to address t&e current trends. We%ill also 'ollo% t&e e/isting ta/ation policy on t&e pro'its earned 'rom t&e $usiness.0s in our country t&e &ig&er le"el people &as a uite &ig& mont&ly income. 0s a result%e are targeting t&ose people to 'ul'ill t&eir demand 'or &ig& uality $randed %edding

products and %orld class e"ent management ser"ices.

o Social !nalysis:

0naly ing t&e social 'actors is a "ery important t&ing 'or t&e any $usiness. We &a"edone our social analysis properly and care'ully. We &a"e analy ed t&e demograp&icneeds and current i'estyle trends and to address t&e trends %e &a"e come %it& t&e%edding products t&at %ill meet t&eir needs properly. We also &a"e addressedConsumer attitudes and opinions) la% c&anges t&at a''ecting social 'actors) Consumer

$uying patterns) Ma+or e"ents and in'luences a''ecting our $usiness) and at last $utnot t&e least %e %ill $e doing proper 0d"ertising and pu$licity to attract our potential


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Description of Venture

Wedding Mart is a s&op come e"ent management organi ation. We pro"ide somee/traordinary and 'le/i$le ser"ices to our "alued customers. We %ill pro"ide "arious

products and ser"ices in terms o' selling and lending %edding materials and %illorgani e %edding ceremony.

o "ission Statement

We) t&e employees and management o' %edding mart) ma(e t&is pledge to you) our"alued customers:

We pledge t&at %e %ill pro"ide &ig& uality and $randed %edding product in a


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1n t&ree years Weeding Mart %ill $e esta$lis&ed in 4&a(a city and t&e e/pansion plan%ill $e de"eloped to e/pand in ot&er parts o' t&e country to meet t&e gro%ing demando' %edding products and e"ent management ser"ices toget&er.

P RODUCTS M ATERIALS

4ress o' $ride $ridegroom


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Bride


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9rnaments

Products -ame:

Creamoundationotion

!&ampoo@air oilPer'ume!oap

Products -ame:

0nticMetal!tone!ample +e%elry

Cosmetics


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Male

emale

Products -ame: -agra!&oes!andal


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0ccessories

Personnel

Products -ame:!uitcaseRi$$onBetel!ugar

-ut

Products -ame:Tur$anPurse

!indoor C&uriWalletWatc&Coug& lin( Beauty $o/

#"ent Management


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S ERVICES

9ur ser"ice 'or t&e "alued customers and clients are as 'ollo%s:#"ent management: We %ill pro"ide "arious types o' e"ent management %&ic& isrelated to t&e %edding occasion o' Banglades&. i(e %edding ceremony) engagement

program) Gaya @alud %ill $e organi ed $y us in t&e reno%ned community center in4&a(a city and e"ery responsi$ility regarding t&is management %e %ill $e ours. Wealso organi e Gaya @alud) #ngagement ceremony in &ouse) roo'


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o Car rent and decoration:

or t&e purpose o' %edding ceremony) %e %ill pro"ide rent a car ser"ices and cardecoration ser"ice to our "alued customer. We &a"e contract %it& rent a company 'ort&e %edding purposes and &a"e contract %it& car decorator %&o %ill decorate t&e%edding car in t&e name o' Wedding Mart. We also pro"ide only car decorationser"ices t&at &as car already.

o Catalog on 'e&elry:

We %ill (eep some sample ornaments in our s&op come o''ice so t&at customer can

$uy t&e product as %ell as gi"e order to +e%elers t&roug& us. We &a"e contract %it&some ;e%elry &ouse li(e 0min ;e%elers) 5alpona ;e%elers) enus ;e%elers %&o %illta(e our order and %ill gi"e H


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'i/ed amount o' money to t&e dri"ers so t&at %e can call t&em any time %&en %e needit.

o *lo&er services:

-o%adays 'lo%ers are "ery popular in decorating t&e e"ents) &ouse) communitycenters) !&o&ag raat and so on. !o %e &a"e contract %it& some 'lo%er producer anddeli"er %&o %ill deli"er 'lo%ers timely and can decorate t&e %&ole program or e"ent

$y 'lo%ers. lo%ers are also needed to decorate car. Bride sometimes needs 'lo%er toma(e o"er.

o Parlor services:

We &a"e contract %it& some 'amous parlor &ouse in 4&a(a city 'or $ot& male and'emale so t&at customer or client can get t&e ser"ices in a discount. or t&is reason %e(eep contract %it& Persona) ar an !&a(iel) @a$i$ %&ere people can get H


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%&ere it gi"es some si e o' discount. We also &a"e contract %it& Gramen P&one and0(tel to pro"ide t&an( you ser"ices to t&e customers.

S IZE OF THE B USINESS

We 'irst start our $usiness %it& 4&anmondi $ranc& $ecause it is situated in pos& placeand can easily attract target customers. or t&is %e &a"e rented a 'loor in t&ree storied

$uilding 'or si/ mont&s ad"ance. T&e rental c&arge 'or e"ery mont& is ?H)>>> ta(a.T&e place is 3)>>> s uare 't and %e can c&ange t&e style o' t&e 'loor easily 'ordecorating t&e s&op. !o %e only created ? rooms 'or our operation and rele"ant toiletsto pro"ide $est ser"ices to clients. 0'ter t&ree years ad"enture) %e %ill e/pand our

$usiness in ot&er sections at t&e 4&a(a city.

O FFICE E QUIPMENT AND P ERSONNEL

T&e o''ice e uipment and num$er o' employees are %or(ed in t&e company are stated $elo%:

o E.uipment:


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!ales people D>

B ACKGROUND OF E NTREPRENEURS

Wedding Mart is 'ully 'inanced $y our 'i"e e ual partners. 0ll t&e rig&ts are di"idedand disclosed as t&e Partners&ip 0ct DE32. 0ll t&e partners &a"e good and soundeducational $ac(ground in t&is sector. T&eir educational $ac(ground and e/periencein t&is sector %ill &elp t&em to introduce a ne% inno"ati"e idea o' KWedding MartL.!o) t&ey can run t&e $usiness success'ully %it&out 'acing lots o' pro$lems. T&eir#ducational Bac(ground is stated $elo%.

o " Sai/ul Islam

Managing director o' Wedding Mart is Tarana 0lam. @er ma+or su$+ects are @umanResource Management and Mar(eting. !&e also &as a good command o"er ot&er area.!o) s&e is elected as t&e managing director o' t&e company $y t&eir partners. @er


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o "D0 1ahat +han

@e is t&e director o' 5 4 %&at %e introduced 'irst in our country. @is responsi$ilitiesare organi ing e"ent management in a ne% and inno"ati"e idea. @is education le"el is

$ased upon @uman resource. @e &as minor in Mar(eting. @e &as sound (no%ledgea$out t&e researc& and de"elopment side and &as idea o' e"ent management so 'ar.

o "ush2.ur 1ahman

@e is t&e director o' @uman Resource and 0dministration o' t&e company. @iseducation is $ased upon @uman Resource Management and Mar(eting. !o &e &as agood command o"er managing t&e employees and administrati"e %or( muc&. @is"alua$le ser"ice 'or t&e company leads it to gro% 'ast and creates an e/ample 'or


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Productio P!"

We do not need any manufacturing process aswe are retail and service ased usiness!

0s our $usiness is totally retail and ser"ice $ased) t&ere is no manu'acturing 'actorsin"ol"ed in our operational plan. We %ill &a"e contract %it& our suppliers anddistri$utors $ot& %it&in and outside o' t&e country 'or supplying our products. We %illstore t&at and %ill display 'or sales to t&e customers and also 'or rent. We %illmaintain a lo%er in"entory le"el as our $usiness products are "ery c&anging %it& t&etrends. or our ser"ices) e/cept t&e #"ent Management ser"ice) %e %ill &a"e contract%it& some ser"ice pro"iders and our customer %ill go to t&em t&roug& using ourmedias.


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P&ysical Plant ayout:

23


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Wedding $aterials and %&uipments wit# t#e'ames of t#e (uppliers!

We &a"e mainly t%o di''erent types o' %edding material supplier. 9ne is %edding produce supplier and anot&er is service provider . @o%e"er) &ere %e %ill $rie'lydescri$e $ot& o' t&e %edding material suppliers accordingly.

"roduct (uppliers!

0s %e are not manu'acturing anyt&ing) t&ere is no supplier 'or pro"iding us t&e ra%materials. But to supply us our selling products %e &a"e contracted %it& se"eral typeso' t&e %edding product suppliers.

Names of the bridal products suppliers


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/usionJe-els.$om

0enus (nternational

oina hor


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We %ill collect necessary $ridal products materials 'rom a$o"e suppliers. 9n t&e ot&er &and as %e already di''erentiate t&e necessary product) so it %ill $e easy 'or us to gett&e supply o' t&e 'ollo%ing products as per needs. 0nd o$"iously %e need to &a"egood communications as %ell as alternati"e suppliers at a time so t&at %e can pro"idet&e $ridal products a$solutely in time to our customers %it& t&eir 'ull satis'action.

Dress of bride 1 bridegroom

Bride2 room Products Name:

!&er%ani

Pun+a$i

4&oti

!uit

Tie

!&irt


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Cream

oundation

otion

!&ampoo

@air oil

Per'ume

!oap

ipstic(s

ace po%der

#ye s&ado%

5a+ol

#ye liner

Bassoon


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Wallet

Watc&

Coug& lin(

Beauty $o/

!3ent %anagement Products Name:

!uitcase

Ri$$on

Betel

!ugar

-ut

4allas 'or @alud Punc&ini

ancy Pot


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(ervice (uppliers!

We are going to pro"ide only t&e e"ent management ser"ice $y our o%n e"ent

organi ers. 0nd 'or pro"iding ot&er ser"ices to our 'inal customers) %e %ill &a"econtract %it& ot&er suppliers.

Names of the bridal ser3ice suppliers

Service Name Suppliers Name

/lo-ers Shabag /lo-er $entre

Decorator Ser3ice Banani Decorator

)omtom $ar ,ld Dha+a

DJ Ser3ice %usic $lub


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%vent management! We %ill pro"ide "arious types o' e"entmanagement %&ic& is related to t&e %edding occasion o' Banglades&. i(e%edding ceremony) engagement program) Gaya @alud %ill $e organi ed $y usin t&e reno%ned community center in 4&a(a city and e"ery responsi$ilityregarding t&is management %e %ill $e ours. We also organi e Gaye @alud)#ngagement ceremony in &ouse) roo'


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,atalog on -ewelry! We %ill (eep some sample ornaments in our s&opcome o''ice so t&at customer can $uy t&e product as %ell as gi"e order to

+e%elers t&roug& us. We &a"e contract %it& some ;e%elry &ouse li(e 0min;e%elers) 5alpona ;e%elers) enus ;e%elers %&o %ill ta(e our order and %illgi"e H


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"arlor services! We &a"e contract %it& some 'amous parlor &ouse in4&a(a city 'or $ot& male and 'emale so t&at customer or client can get t&eser"ices in a discount. or t&is reason %e (eep contract %it& Persona) ar an!&a(iel) @a$i$ %&ere people can get H


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O#$r"tio "! P!"

*perational "rocess com ined wit# ow oforder of t#e ridal products and services!

1n t&e operational plan %e %ill descri$e t&e c&ronological steps in completing our $usiness transaction. 0s %e are not manu'acturing $usiness $ut retail and ser"ice $ased $usiness %e %ill $e $uying our product 'rom our suppliers %it&in and outside o' t&e country. We %ill store t&at and %ill display 'or sales to t&e customers and also 'orrent. We %ill also pro"ide ser"ices to organi e t&e marriage. We %ill also pro"idedecorator) 4;) p&otograp& and parlor ser"ices to t&e customers on a contractual $asis.We %ill &a"e contacts %it& t&ose ser"ice pro"iders. 1' any customers demand 'or


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We &a"e 'our di''erent types o' $ridal pac(ages. T&ese pac(age prices %ill $edetermined along %it& location or "enue %&ic& actually means %&ere our client %antsto arrange t&e program. 9n t&e ot&er &and t&e time) t&at is %&en &e or s&e %ants t&e

program to arrange. Currently most popular community centers areA 4ar$ar @all)!ena(un++o) Bango$and&u 1nternational Con'errance Centre) Bas&und&ara

Con"ention centre) Trust Milanayton) Party Centre) 0$acus Con"ention centre and priyan(a community centre. @o%e"er) our pac(ages are:


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Prici %

Pricing o' our products and ser"ices is one o' t&e important determinants %&et&er %ill $e a$le to attract our target customers and ma(e pro'it out o' our $usiness or not. We

%ill categori e our pricing list in t%o di''erent segmentsA one 'or general ande/clusi"e %edding products and anot&er 'or t&e e"ent management ser"ices %&ic&%ill $e calculated in di''erent pac(age 'or t&e ease o' our clients. We %ill also &a"eour speci'ic pricing met&od and payment met&od and attracti"e discount as %ell.Mainly %e %ill try to use psyc&ological pricing strategy %&ic& is high price-highquality strategy 'or our e/clusi"e products and ser"ices. 0long %it& t&is %e %ill alsouse promotional and di''erentiated pricing. 0'ter t&ree years %&en %e %ill mo"e to


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1n t&e 'ollo%ing) t&e &uge collection o' product list and range o' t&e prices %&ic& %e&a"e in our $usiness are gi"en:

Clothing Section Product Price Range

!&aree 2>>>>>>

a&enga H>>>>>>

!&er%ani 3>>>>>>

Pun+a$i D>>>>>

!&irt 8>>>>

!uit ?>>>>>

Tie F>>>>


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Product Price Range

ancy Pot 2H>>>

4ecorating Piece D>>>>

Gi't Bo/ 2>>>

Gi't Wrapping papers H>>

4ala 5ula 3H>>

Ri$$on) Bo%) ace) 9t&er decoratingmaterials

H>>>

Cosmetics Section

Product Price Range

Per'ume H>>>>


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ace %as& D>>>

!oap 3>>

Toner D>>

Cream 3H>>>

otion 3H>>>

9il 8>>

i uid !oap D>>>

!&o%er gel DE>>

ace pac( 8>

!cru$ E>

!&ampoo 3>>>

Conditioner 2H>>>


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Ti(li D>>>>>

#ar rings HH>>>

-ot& D>>>


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Video and Camera Systems

P&otograp&y ?H>>>>

ideo Camera recording 6>>>>>

#diting 2H>>

@! and C4 8>>

Pro+ector ?>>>

!ound 36>>

Decoration

Gate 2H>>>>

Car D>>>>>


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Direct %ar+eting

i. Catalogsii. Mailing

iii. Telemar(eting

i". #lectronic !&opping 7$y %e$site". #


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Wedding Mart is a partners&ip company. i"e e ual partners are in t&e position o'

managing t&is company. 9ur organi ation structure and organi ation plan is "erye''ecti"e and appropriate. T&ere are no con'licts among t&e partners. #"ery partnermaintains t&eir responsi$ility prudently %&ic& %ill lead t&e company to a prosperous'uture. We also &ope t&at %e %ill e/pand our $usiness in ot&er parts o' t&e countrya'ter 'acing t&e satis'action o' t&e "alued customers.


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Aut/orit1 o. P"rt $r'


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Id$ ti2c"tio 3 Ro!$' " dR$'#o 'i,i!iti$' o. t/$ -$-,$r' o.

t/$ or%" i4"tio *

Belo% %e &a"e gi"en a description o' -ame) 4esignation Responsi$ilities o' eac&mem$er:

Name7 % Saiful (slam

Designation7 %anaging Director8 Director of #ccounting 1/inance.


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R$'#o 'i,i!iti$' "' t/$ dir$ctor o."ccou ti % " d 2 " c$*

Fi " ci"! t"'0'*

i. Preparing inancial reports at t&e end o' t&e year ii. 4oing t&e ration analysis and assess t&e 'inancial condition

iii. #/tending credit to customersi3. #"aluating proposed large e/penditures

3. Raising money to 'und t&e organi ation*s operation

Fi " ci"! " "!1't*

i. Preparing t&e 'inancial plans and $udgetii. Monitoring and controlling t&e $udget

iii. Managing t&e cas& 'lo%s) sometimes e"en in di''erent


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Designation7 Director of %ar+eting

R$'#o 'i,i!iti$'*

S"!$' M" "%$-$ t*

i. 4irecting t&e e''ort o' sales pro'essionals $y assigning territories)esta$lis&ing goals)

ii. 4e"eloping training programs) and super"ising local sales managersand t&eir personnel.

Ad($rti'i % M" "%$-$ t*

9"erseeing account ser"ices) creati"e ser"ices) and media ser"icesdepartment.


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Name7 %D. Rahat Khan.

Designation7 Director K1D

E($ t M" "%$-$ t*". 4esigning t&e e"ent management plan) and implement t&at strategic

plan to organi e t&e %edding e"ents."i. 5eeping $etter relations&ip to t&e suppliers.

"ii. 5eeping in touc& o' "alued clients and seeing t&eir pro$lems."iii. Managing t&e t&ree e"ent organi ers in managing t&e occasions."i3. @a"ing contract %it& t&e parlor) decorator) rent a car) %edding

&ouse."3. 9"erseeing t&e mar(et situation o' price.

R$'$"rc/ " d i o("tio *

"3i. @a"ing mar(et researc& on current 'as&ion and style 'or %edding


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Name7 %ushfiqur Rahman

Designation7 Director& 9R 1 #dministration

R$'#o 'i,i!iti$'*

HR O#$r"tio '*

i. 1denti'ying salary o' t&e employeesii. 1ntroducing appropriate compensation pac(age 'or t&e

employeesiii. 9$ser"ation and e"aluation o' t&eir per'ormances

R$'ourci % 6 E-#!o1$r Br" di %*

i. Recruiting and &iring t&e rig&t person 'or particular positionii. 4eli"ering t&e responsi$ilities


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A''$''-$ t o. Ri'0

S)OT A "!1'i'


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Innovative Business Concept:

!elling all t&e %edding products and pro"iding all %edding related ser"ices is 'irst inBanglades& and t&is is a uni ue $usiness idea %&ic& Wedding Mart is going to start.T&ere is lots o' $usiness %&o is selling %edding !ari) some is selling !er%ani)

Pun+a$i) or ot&er is selling %edding cosmetics and ot&ers sta''s. T&ere is no suc& $usiness %&o is selling all t&e products toget&er. But t&ere is a &ig& demand 'rom a particular customer segment %&o %ants to $uy all t&e %edding related products andser"ices under one roo' and in a 'amily en"ironment. T&is uni ue %ill &elp us to gett&e mar(et s&are uic(ly and loyalty among t&e customers.

Competitive Price:

Wedding Mart is going to selling all its products items and ser"ices at a "erycompetiti"e price %&ic& %ill attract potential customers. We &a"e done t&e mar(etresearc& on t&e products price t&at %e are going to sell. We collect t&e mar(et price o'our products and ser"ices. Based on t&at %e &a"e decided our products price %&ic& is"ery reasona$le and competiti"e.


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Comforta!le hopping "ithin less time:

1n Wedding Mart people can $uy t&e entire necessary item under one roo' com'orta$le%&ic& %ill sa"e t&eir time. 1n Wedding Mart %e &a"e a collection o' all t&e marriagerelated products and ser"ices and people can come &ere and can see all t&e itemsunder one roo' and $uy 'orm &ere %it&in less time. T&ey do not &a"e to go &ere and

t&ere to $uy di''erent items. !o it %ill $e com'orta$le 'or t&em and less timeconsuming.

#amily $nvironment:

Wedding Mart &as a uni ue en"ironment %&ere people can come %it& all t&e 'amily

mem$ers and can do s&opping in a 'amily en"ironment. Wedding Mart &as a uni ue'eature t&at is its 'amily en"ironment. @ere people can come toget&er %it& t&eir'amily mem$ers and do s&opping com'orta$le %it&out any &assle. 0lso t&e place isnot cro%ded so people can mo"e &ere com'orta$le.

%ultiple #acilities:


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Area limitation:

Wedding Mart opens t&eir $usiness only at 4&anmondi residential area in 4&a(a city.or t&e 'irst year t&ey (eep t&eir $usiness $inding at 4&anmondi $ecause Wedding

Mart is not only a %edding s&op $ut also a e"ent organi er. !o t&e capital 'or open

t&is $usiness is relati"ely &ig&. 0nd most important t&ing is t&at it is completely ne%concept in Banglades&. !o t&e e/pectation o' t&e customers and clients is "ery &ig&and it %ill $e cost 'or t&e partners i' t&e $usiness can not 'ul'ill t&is e/pectation.

'imited operation:

Wedding Mart %ill con'ine t&eir $usiness in a single 'loor. 0s it is t&e 'irst operationo' t&e partners in t&e $usiness era) t&ey %ant to con'ine t&eir $usiness only in a single'loor o' t&e rental &ouse. 9n t&e ot&er &and &ouse rent creates e/tensi"e cost 'or t&ecompany i' t&ey %ant to enlarge t&eir operation in a duple/ &ouse or in a t%o 'loor

$ased o''ice come s&op. T&e capital 'or t&e re uired operation is also &ig& in opening $usiness at a pos& area.


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To open Wedding Mart in Banglades& needs &ig& start up cost. T&e initial cost 'or t&e $usiness is too &ig& $ecause t&e company needs to gi"e se"eral ad"ances to rent $usiness 'loor) contract %it& suppliers and contract %it& decoration o' t&e $usiness'loor. T&ey also need to purc&ase a &uge amount o' o''ice e uipment and supplies att&is moment. 0nd in t&e 'irst si/ mont&s t&e $usiness does not go 'or operations $ut

t&e e/penses are incurred e"entually. !o t&e company &as to 'ace a &uge start up cost'or t&e 'irst years o' organi ation and operation.

Bu'i $'' O##ortu iti$'

*o direct competition:


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Changing +rends and Psychology:

-o%adays 'amilies are spending &uge money in t&e %edding 'unction and t&is is one(ind o' s&o%ing o'' tendency and t&at %ill create opportunity 'or our $usiness. -o%

$ot& $oys and girls %ant e/pensi"e not only dresses $ut also +e%elry in t&eir %edding.0t t&e same time) young generations %ant more 'un in t&e %edding program and 'romt&em %e %ill arrange reputed $and team and 4; party as per demand 'rom ourcustomers.

Customi,ed Product:

rom our %e$site our clients %ill get all t&e in'ormation o' our ne% productcollections and ser"ices. We %ill gi"e t&em opportunity to customi e t&eir demandand it %ill gi"e t&em more 'le/i$ility to %or( %it& us. 0ctually %e %ill 'orecast


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Bu'i $'' T/r$"t'

.ur suppliers are the !ig competitors:

We are planning to $uy some o' our selling products 'rom C&adnic&o( mar(et) Mirpur Benaros&i Polli) and ot&er c&eap places. But many people are already a%are o' t&e'act t&at in t&ose places t&e product prices are muc& lo%er t&an any ot&er places in4&a(a. !o t&ey o'ten go to t&ese mar(ets 'or s&opping t&eir necessary t&ings 'or a%edding occasion. T&ere'ore) %e &a"e to 'ace many pro$lems to capture t&e mar(etinitially.

'imited mar et:

0s %e are targeting only t&e t%o groups o' people on t&e $asis o' t&eir income le"elT 2012 201% 201& 2015 2016Tk. Tk. Tk. Tk. Tk. Tk.

>et )n* me $7,100 116,%50 1&7,&20 1$0,&66 215,657Cas! Flo< "o4 O5e"ati-= A$ti>ities

Adjustments for non Cash Itemsepre*iati n 1$0,000 177,000 17&,150 171,&&% 16$,$70

O5e"ati-= Cas! Flo


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Business PlanCompany: Wedding Mart

Category: Wedding Related Products !er"ices.

WEDDING MART

NET PRESENT ?ALUE @NP?! st + !apital ? 7205>um er + @ears ? 5

)nitial )n3estment

7,205,000 10,000 10,000 %2,000 56,200 $2,$20

0 1 2 % & 5

P"ese-t ?al,e

1-1/-&/-$/-11/@*9

>9 ? 9 )nitial )n3estment

>9 ? 7,20&, 76

Decision Criteria:

)+ >9 C Tk.0 , a**ept t e pr ;e*t.)+ >9 D Tk.0, "e;e*t t e pr ;e*t.

68

MGT 368.2


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Business PlanCompany: Wedding Mart

Category: Wedding Related Products !er"ices.

The project can be accepted because it can earn a return grater than its costs of capital.

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Documents

Business Plan Final Copy Wedding Mart Doc