Business Plan
Executive Summary
Extravaganza is a full service company that provides complete party planning services for weddings, bridal shower, baby showers, Sweet 16 and anniversaries. Our staff is experienced and dedicated professionals with many years of party planning experience. Extravaganza listens to the customers’ needs and works with them to create the event of their dreams. We want every detail of their event to be both a pleasurable and a memorable experience. Therefore we offer a host of packages and services specifically tailored to the needs of each person. Our goal is to satisfy ever customer’s needs and let them realize that there can be a stress-free & affordable way to plan a party.
2. The Business Summary
Extravaganza is a small business specifically aimed at the working class “blue collar” world. It is going to be home-based in Jersey City, NJ and with plans to branch off to other areas in New Jersey in the future. Extravaganza is a “first class” party planning company with “coach” type affordability. We will specialize in weddings, baby showers, Sweet Sixteen, Quinceneras (Sweet 15), bridal showers, and reunions. The reason why I decided to start up this type of business is because Jersey City is rapidly growing. From my experience people in this area do not particularly care too much about using a party planner because of the cost. They would rather spend less and stress more. Extravaganza will show them that at a reasonable cost they can have the party they always wanted.
Extravaganza will be offering lower prices and flexibility compared to others. Our staff will be multi-cultural and will be able to cater to everyone’s needs no matter what your nationality might be. We will build ...
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...t Liabilities
Account payable $0
Borrowing $2,000
Current liabilities $2,000
Critical Risk Factors
As an event planner, it is important to take a moment to think about policies as well as potential problems and emergency situations that may affect your event.
Management Risks- We might be under staffed for larger parties
Marketing Risks- Lack of marketing our services to the targeted group
Operating Risks- Vendors/Suppliers canceling at the last minute
Financial Risks-. Not having enough funds or not being approved for certain loans
Bibliography
1. http://www.bplans.com/sample_business_plans/Wedding_and_Event_Planning_Business_Plans/Personal_Event_Planning_Business_Plan/executive_summary_fc.cfm
2. http://www.entrepreneur.com/startingabusiness/businessideas/startupkits/article37892.html
3. http://www.wisegeek.com/what-is-event-planning.htm
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