Posh Events Business Plan

7/24/2019 Posh Events Business Plan

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POSH EVENTSDreams Come True

POSH EVENTS+254 704 357 561



POSH EVENTS BUSINESS PLAN

Executive Summary

Posh Events will be an event organizing, managing and planning

ompan! speializing in orporate "#ntions$ %t will o&er severalt!pes o" servies 'Wedding & Birthday Planning, Family Fun

Days, Corporate to Gala Dinners, Fashion Shows, Clubs &

Hotels Mareting, !etreat "raining Ser#i$es as well as

Produ$t %aun$h #ents($

Mission

)he mission o" Posh Events is to provide its lients with the

highest level o" event planning$ *e eist to attrat and maintain#stomers$ *hen we adhere to this maim, ever!thing else will

"all into plae$ #r servies will eeed the epetations o" o#r

#stomers$

Vision

)o be the most protr#sive event planning ompan! in the whole

o#ntr! and the -1 leading hoie to #stomers when it omesevent organizing, managing and planning mar.et$

O!ectives

Posh Events ob/etives "or the rst two !ears o" operation inl#de

1$ )o reate a serviebased ompan! whos -1 val#e iseeeding #stomers epetations$

2$ )he #tilization o" Posh Events servies in 10 o" the 100 topper"orming ompanies in the Events anagement etor

o#ntr!wide$

3$ )o inrease o#r n#mber o" served lients b! 208 per !ear

thro#gh s#perior servie$

4$ )o develop a s#stainable, protable start#p b#siness$

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COMPAN$ SUMMA%$ Posh Events, soon to be loated in 9airobi, will o&er event planning "orindivid#als and ompanies$ Posh Events will speialize in *edding :

;irthda! Planning, <amil! <#n =a!s, orporate to >ala =inners, <ashionhows, l#bs : ?otels ar.eting, b#t will onentrate mostl! on @etreat )raining ervies as well as Prod#t Aa#nh Events$ Posh Events oBe will beloated in ;= 9airobi, Cen!a$

Com&any O'ners(i&

Posh Events will be a Partnership b#siness b#t the sole sto. holder will be;roline dh#l, )he other partner will be artin t!$

Start)u& Summary

Posh Events start#p osts will inl#de all the neessar! eD#ipment needed"or an oBe, legal "ees, ao#nting "ees, advertising "ees, "ew eventseD#ipment "ees and website development "ees$

)he home oBe eD#ipment will be the largest h#n. o" the start#pepenses$ )he oBe will reD#ire some des.s, hair, boo.shelves ando#hes, two omp#ters and oBe stationeries$

)he ao#nting "ees will be #sed to set #p the ao#nting s#ite so that Posh

Events an do the ao#nting inho#se$

)he legal "ees will be #sed in registering Posh Events as a ompan! inaordane o" the law o" Cen!a as well as "or reviewinggenerating standardlient ontrats$ )he advertising osts are based on the need toomm#niate o#r servie to perspetive #stomers$

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Startu& +un,s

Start)u& Ex&enses to+un,

-s(s./01222

Start)u& Assets to +un, F00,000Tota3 +un,in4 %e5uire, F43,000

Start)u& %e5uirements

%e5uirements -s(s.Start)u& Ex&ensesLe4a3 10,000Stationery etc. 3,000Broc(ures 3,000Consu3tants 3,000Insurance 2,000%ent 15,000O6ce e5ui&ment 10,000Ex&ense, e5ui&ment 0Ot(er 0

Tota3 Start)u& Ex&enses 43,000Start)u& AssetsCas( %e5uire, 100,000Start)u& Inventory 200,000Ot(er Current Assets 0Lon4)term Assets 500,000Tota3 Assets F00,000Tota3 %e5uirements F43,000

STA%T UP ASSETS7E8UIPMENTS

a9O6ce E5ui&ments omp#ter =es.s Ps Be tationar! )elephoneobile Phone <aopierPrinting ahine hairs

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9Soun, E5ui&ments id@ange pea.ers <#ll @ange pea.ers ;ass pea.ers *ireless irophones Gmpliers

o#nd ED#alizers =H )#rntables =H Aaptop

c9 Venue E5ui&ments )ents =Ior Plasti hairs tage et#ps

)ables

,9+ami3y7-i,s7Com&any +un Day E5ui&ments ;o#ning astle )rampoline lides

e9 P(oto7Vi,eo %ecor,in4 E5ui&ments ?= amera amera tandlider amera Aighting

Dia4ram I33ustrations

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Bouncin4

Tram&o3ine



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<ater

S3i,es

Soun,System

Am&3i=ers an,Micro&(ones



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D?Turnta3e



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HD Camera

Camera Li4(tin4 an,S3i,es



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Tents C(airs an,Dcor

Sta4eSetu&s



SE%VICESPosh Events will o&er the "ollowing events b#t will mainl! onentrate twoorporate servies (Retreat Training Services & Product Launches).

". <e,,in4 Birt(,ay P3annin4 Planning a per"et wedding an

be both "#n and eiting, b#t its eas! to get overwhelmed with all thedi&erent options o#t there$ Cnowing where to start is at#all! D#ite a bighallenge b#t Posh Events will strategize in ma.ing its lients to believethat its the best option when it omes to planning their weddings orbirthda! parties$

*. +ami3y7-i,s7Com&any +un Days *hen planning a ma/or event

li.e this, one needs to be ass#red that the event planners heshe hoosesare ompetent and are able to deliver the per"et "amil! event on the da!$G orporate "amil! "#n da! is the per"et opport#nit! "or emplo!ers to

ement the relationship that the! have with their sta& it is abo#tever!one pla!ing and having a great time together$ orporate "amil! "#nda! event planning needs to progress "rom the basi ideas, thro#gh to theplanning o" the at#al events s#h as inJatables bo#n! astles, slidesand ma/or str#t#res, o#ntr! sports ativities s#h as Grher!, Aaser la!hooting, <alonr! and other entertainment 'lowns, "ae painting, ridesand m#sial attrations($ *e g#ide and assist !o# in ever! step along thewa!$ <amil! "#n da! planning also needs to ta.e into ao#nt the ven#ewhere the "#n da! will ta.e plae$ bvio#sl! the hoie o" "ood and drin.s"ailities and the s#pporting in"rastr#t#re, s#h as par.ing, are o"paramo#nt importane$ Posh Events has a whole range o" s#perb ven#esthat are reliable "or !o#r "amil! "#n da! ativities and we will alwa!s wor.with !o# to provide the best pa.age$

0. Cor&orate an, a3a Dinners) G gala is a big part! and o"ten

"eat#res entertainment and dinner, sometimes daning and an a#tion$>ala dinners are abo#t the eperiene and Posh Events will design anddeliver the >ala dinner drawing on the eperiene o" the dediated eventdesigner or pro/et manager$ )hro#gh reg#lar omm#niation, pro/etmanager will g#arantee that ever!thing aligns with the lients aspirationsand b#dget "or the evening, leaving the lient with time to en/o! the

night$

/. C3us an, Hote3s Maretin4 )he hospitalit! ind#str! is a

ompetitive mar.etplae "or whih traditional advertising streams, s#has television, newspapers and billboards have beome inreasingl!ins#Bient$ Gdditionall!, when !o# r#n an independent small hotel orresta#rant, !o# dont have aess to the enormo#s mar.eting b#dgets onwhih the international and national hains rel!$ G reative, more personal

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mar.eting plan that Posh Events will provide its lients with will servethem best$ Posh Events will help provide eeptional servie in order "orits lients to maintain repeat b#siness$

:. %etreat Trainin4 Services )he orporate mar.et "or event

planning is stead! and protable$ <or some large ompanies, eonomidownt#rns mean #ts in training$ )his is, however, onl! the ase "orshortsighted ompanies$ )he benhmar. ompanies ma! trim down thewor."ore d#ring a downt#rn, b#t the! do not #t "#nds "or training$ )he!reognize that investing in h#man reso#res is alwa!s a goodinvestment$ Posh Events intends to prot niel! "rom this$ Gdditionall!,even in eonomi downt#rns, ompanies still have prod#t la#nhes andwill still need someone to organize these events$ %n short, the need "or

orporate event planninghosting servies rarel! diminishes, it is asteadil! inreasing demand that Posh Events will apitalize on$ )heseevents are t!piall! #sed "or two di&erent reasons$ )he! are either aleadership training or teaming s.ills training where emplo!ees o" theorporations are sent awa! to develop these s.ills$ %n addition to theplanning o" the events, Posh Events will be able to host the event as well$*hile Posh Events ore ompetenies are not in hosting, Posh Events willalign itsel" with a wellrespeted host o" leadership developmentteamings.ills programs and have them assist in the hosting aspet$ Ksing astrategi partner in this ase allows Posh Events to sti. with a narrow

"o#s b#t still o&er the servie to o#r #stomers$

;. Pro,uct 3aunc(es )hese are events where a ompan! is releasing aprod#t and the! have an event that is open to people o#tside theorporation$ )he p#rpose o" the prod#t la#nh event is to reatevisibilit! "or the new release$ Prod#t la#nhes are an integral stage in therelease o" a new prod#t, omm#niating to the p#bli abo#t the newLthingL the ompan! has /#st released$ #r #stomers will be ompaniessee.ing to raise awareness abo#t their new prod#t release$ Posh Eventswill provide a omplete servie o" planning and hosting these prod#trelease events$

Maret Ana3ysis Summary

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Posh Events will serve lients in the event planning mar.et$ Posh Events willbe speializing in two important nihes$ )he rst is leadership developmentand teaming s.ills development$ Even tho#gh we are in the midst o" aneonomi downt#rn, investments in h#man apital are generall! not red#edin that ompanies still have the need "or leadership development andteaming s.ills development, whereas individ#als still have the need "or

assistane in personal events organizing$ )hese are investments that ost abit #p "ront b#t pa! nie ret#rns in the long r#n$

Maret Se4mentation

Posh Events will ma/orl! b#t not onl! provide servies to orporate #stomers

onl!M it will also go a"ter the soial mar.et whih is an alternative mar.etwithin the event planning nihe$

)he orporate lient will be a ompan! that ontrats with Posh Events toplan, organize and t!piall! host an event "or the ompan!$ )his will bebea#se

1$ %t is ost eBient "or a third part! to plan the event$ )his is the asebea#se the third part! onl! does event planning so that the! an hostthe event more eBientl!$

2$ )he ompan! does not have additional people that an be ta.en awa!"rom their dail! /ob and invest time in this in"reD#ent event$

#r event planning servies "or orporate retreats will t!piall! be #tilized b!larger orporations$ G larger ompan! an be generall! dened as one withmore than 40 emplo!ees$ maller ompanies sometimes will #tilize thisservie o" o#rsM however, it is the larger orporations that t!piall! have theb#dget "or this ativit!$

<or o#r prod#t la#nh event planning, we will be serviing ompanies o" alldi&erent sizes$ )!piall! the ompanies that #se this servie will be prod#t

based ompanies, b#t we will also o&er this servie to serviebasedompanies who desire to anno#ne a new servie that the! are o&ering$

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Service Business Ana3ysisompetition in event planning is ere$ Aoo. in the Nellow Pages and !o# willsee rows and rows o" listings$ A#.il! "or Posh Events, the ma/orit! o" theevent planning is "or soial events$ )here are ver! "ew ompanies thatspeialize in orporate event planning$ )here are no ompanies thatspeialize in spei t!pes o" orporate events$ Gdditionall!, with the reenttrend o" orporate downsizing, the ompanies that had an inho#se sol#tionare abandoning these positions in "avor o" o#tso#ring to red#e osts$

Com&etition an, Buyin4 Patterns#rrentl! there are other ompanies that o&er event planning speiall! toorporations$ )he! however, tend to do events that are more general insope s#h as parties to reward #stomers or emplo!ees, or events tohange the ompan!s image$ )ho#gh there are a "ew ompanies thatspeialize in event planning o" orporate training and prod#t release events$ )here are ompanies that o&er orporate training, b#t these ompaniesprovide the at#al training and do not do an! o" the at#al eventplanninglogistis o" the entire event$

)here are ompanies that provide prod#trelease servies, b#t the! do notspeialize in it$ ;ea#se event planning is a tight mar.et, Posh Events willbenet "rom their speialization in this area$

%n the past, the b#!ing patterns "or the larger orporations were to have aninho#se sol#tion$ )his pattern is disappearing in "avor o" o#tso#ring asthere is the onstant drive "or gains in eBien!, something o#tso#ring ano&er$

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Tar4et Maret Se4ment Strate4y

Posh Events is targeting large ompanies "or o#r orporate retreat eventplanning$ )he large orporations t!piall! have the b#dget and the "oresightto reognize the val#e in orporate retreats$ %n addition, it is the largerorporations that t!piall! #se the orporate retreat as a training session "or

their emplo!ees$ )he training is t!piall! in leadership development orteaming s.ills$ *hile the! do have these retreats at di&erent intervalsthro#gh the !ear, it is more ost e&etive "or them to hire a servie s#h asPosh Events to plan the events when needed instead o" pa!ing the arr!ingosts o" having a "#lltime, trained emplo!ee read! to do the planning whenit is needed$

Posh Events prod#t release planning servies will be targeted at all di&erentsize ompanies$ ompanies o" all sizes have prod#t release and it is#n#s#al "or them to have prod#t release man! times a !ear reD#iring

someone to be a "#lltime planner on sta&$ )here"ore, it ma.es sense "orthem to hire an o#tside servie to plan the event #sing their epertise inevent planning to drive down the osts o" prod#tion and hosting$

Strate4y an, Im&3ementation Summary

Posh Events will be aggressivel! o#rting ompanies to win over "#t#reontrats$ Posh Event will o&er a s#perior servie at a lower ost d#e tospeialization$ ;! onentrating on "ew spei servies, Posh Events will

beome proient at these servies$

Posh Events will inrease ompan! visibilit! thro#gh a website andpartiipation in trade shows$ #r website will be D#ite detailed and provide avisitor indepth in"ormation abo#t the servies Posh Events o&ers, theorresponding high level o" D#alit!, and the ost savings that an beahieved b! #sing Posh Events$

Posh Events will also be D#ite ative in soial pro/ets$ ver the !ears,;roline has ome to realize that a lot o" b#siness transats thro#gh thepartiipation in omm#nit! soial and development pro/ets$

Aastl!, Posh Events will be ative in the man! trade shows that ome thro#gh9airobi$ )he #se o" trade shows allows members o" Posh Events to beintrod#ed to a wide range o" b#sinesses that otherwise wo#ld be diB#lt toestablish an initial relationship with$

Com&etitive E,4e

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Posh Events ompetitive edge will be based on two "ators, speializationand strategi relationships$ Posh Events will be speializing in two distintareas o" orporate planning$ *hile speializing essentiall! prel#des PoshEvents o#t o" a lot o" di&erent mar.ets, it allows Posh Events to eel in themar.ets that it has hosen to partiipate in$ peialization allows PoshEvents to be an epert in the areas that it is onentrating in$ Gdditionall!,

the epert .nowledge allows Posh Events to provide the servie as a ostsaving to the ompan! bea#se the "ewer servies Posh Events o&ers, themore the! an onentrate on improving the #rrent o&erings$ %mprovementsthat Posh Events strive "or is a red#tion in ost harged to the lient and animprovement to the level o" servies o&ered$ Posh Event seond ompetitiveedge is based on the #se o" strategi relationships$ Posh Event learl!realizes that the! annot be good at ever!thing$ Posh Event believes it isbetter to onentrate on a "ew things, eel in those areas, and "ormstrategi partnerships with ompanies that eel in the servie areas thatPosh Event doesnt$ Gppl!ing this philosoph!, Posh event has deided in

addition to planning orporate retreat training sessions, the! want to o&erthe servie o" hostingleading these events as well$ )he servie o"hostingleading however, is D#ite di&erent than planning and Posh Eventbelieves that it wo#ld be more ost e&etive to "orm a strategi relationshipwith an epert in this eld instead o" tr!ing to beome proient themselves$Posh Events then is able to o&er a topnoth servie o&ering o"hostingleading the training seminars b#t does not have to invest heavil! indeveloping the program$

)he #se o" strategi relationships is #n#s#al in the event planning spae$ost event planners are generalists and tr! to do a little o" ever!thing$ PoshEvent is "ollowing the model o" benhmar. ompanies in other ind#stries thathave reognized the val#e o" speialization and the #se o" strategirelationships$

Sa3es Strate4y

Posh Event will "or the most part be #sing the sale strateg! o" personal

selling$ *ith his three !ears eperiene in mar.eting, ;roline has "ormedrelationships thro#gho#t the b#siness omm#nit!$ ;roline will initiall!leverage these relationships to "orm some initial lients$ ne things getrolling and Posh Events has developed some satised lients, ;roline will bedeveloping relationships with his networ. o" "riends developed thro#ghprevio#s eno#nters in the larger orporations$

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;roline spiel to prospetive #stomers will be based on the high level o"servie o&ered and ost advantages b! going with Posh Events$ )he ostsavings an be D#antied and shown to the #stomer while the higher levelo" servie an be g#arantee as well as omm#niated thro#gh testimonials"rom satised lients$

Gdditionall!, the website will be #sed not onl! to omm#niate in"ormation toprospetive #stomers, b#t also a method o" omm#niation where PoshEvents an provide more speialized in"ormation s#h as ost estimates aswell as answering D#estions thro#gh the site$

Sa3es +orecast

)he rst two wee.s will be spent setting #p the oBe$ %t is #nli.el! that therewill be an! sales ativit! within the rst month$ =#ring the rst month,;roline will be developing s!stems to provide a template "or "#t#re eventplanning$ ne this is set #p, Posh Event sho#ld be able to proess the

servie reD#est rather easil!$

)he seond month sho#ld see the start o" sales ativit!$ %t will not be #ntil the"o#rth month that things will reall! .i. in$ <rom month si thro#gh twelvesales will steadil! inrease and the inrease sho#ld ontin#e well into !eartwo$

Mi3estones

Posh Event will have several milestones

1$ ;#siness plan ompletion$ )his will be done as a roadmap "or theorganization as well as an indispensable tool "or the ongoingper"ormane and improvement o" the ompan!$

2$ etting #p oBe$ )his will be done within the rst "o#r wee.s$

3$ Gdoption o" Posh Event servies b! at least 20 ompanies$

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4$ @even#e epetation o" abo#t Cshs$5,000,000 in two !ears o" b#siness$

Mana4ement Summary

;roline dh#l, <o#nder and President, has a ertiate in %) "rom O#eensl!nnomp#ter ollege$ G"ter ollege, ;roline spent one !ear wor.ing "or adesigning ompan!$ =#ring that !ear, ;roline beame "amiliar with a largen#mber o" ompanies and the important pla!ers in the b#siness setor in9airobi it!$ ;roline later started another /ob at Eletronis one as a alesGssistant and )ehniian$

G"ter wor.ing at Eletronis one "or another !ear, he deided to /oin hiso#sin in managing an event organizing ompan! 'Events @ed arpet G"ria(established b! his o#sin$ %t was at Events @ed arpet G"ria where ;roline

learned the b#l. o" his organizing and event planning s.ills$ )hese s.ills, inon/#ntion with his simple managerial s.ills, gave ;roline the ondene tohandle a wide range o" b#siness propositions$ G"ter a !ear o" wor.ing with hiso#sin, ;roline deided to start his own b#siness$ Posh Events was nall!born$

Personne3 P3an

)he sta& will initiall! onsist o" ;roline and artin wor.ing "#ll time$ ;!month two, ;roline will have bro#ght on board a seretar!reeptionist in a

"#lltime ho#rl! position$ onth three will mar. when ;roline will bring onboard an ao#ntant to maintain the ao#nts o" their lients$ artin will beresponsible "or the set#p o" the oBe, "orming o" strategi relationships withthird part! vendors, and t#rning sales leads into #stomers$Q$$

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Documents

Posh Events Business Plan