Through careful planning on the part of the founders, the start-up costs for Exclusive Events, an events coordination company are minimal. It began as a home-based business with little overhead, and it continues to demand fewer outlay of funds as a service-based business. The start-up cost investment funds were assets saved from prior earnings by the owners who did event planning on a part-time basis before establishing themselves as a business. It is the wish of the founders to remain a debt-free establishment. However, recognizing that in reality not all variables are controllable, outside financing is a viable option. Both founders own homes and have a perfect credit rating
Products and Services
Exclusive Events, an events coordination company is primarily a service business, we also offer products to aid our customers in planning the event themselves. The following products are tools used inside our operation for the best possible results:
The Party Pack is a complete kit for any party. It includes decorations, lighting effects guide, disposable theme cameras, cutlery, plates, napkins, cups, punch mix (or recipe), snack supplies (or recipe), tablecloths, theme music (where applicable), invitations, thank-you cards, and a step-by-step guide to planning, putting together ,and hosting the event.
These booklets include a calendar to map out the event, a step-by-step guide on what is needed for and how to put together a successful, worry-free event, resource information, popular refreshments with recipes, games, and tips to put their event in the record books. The events available include birthdays for all ages, meetings, retreats, parties, vacations, and special occasion celebrations such as graduations, holidays, showers, weddings, and receptions.
Event Planning Software
Due to be released June 2000, this cutting-edge tool will allow the client all the resources and visual aids for their event planning. They will be able to play with decoration themes, listen to theme music, design invitations, thank-you cards, and RSVP cards, use the interactive planning calendar, and much more. This software will bring their event
Our products will serve the function of aiding those that cannot afford the cost of an event planner. We wish to make our event planning tips available to those who need a helping hand. Exclusive Events company is a member of the community. Through event planning, the company gets the opportunity to laugh when the community laughs and cry when the community cries, to rejoice when the community rejoices and to help put the pieces back together when things change or begin to fall apart. We care about the things that have meaning in the lives of our neighbors.
The breakdown of the market for event planning, falls in a wide, very diverse grouping. Individuals as well as organizations demand the services we provide. In order to provide the greatest depth of information, the market segments have been broken down into private and public organizations, and age groups
Private Organizations and Businesses
Private organizations make up the single largest portion of Occasions' client base. Private organizations such as businesses, corporations, and political parties host the most events on the largest scales, therefore, these events generate larger revenues per event. The majority of larger scale holiday functions will fall under this segment.
These events will focus mainly on themes with moderate to high energy appeal. The revenues generated will range from moderate to high, depending on the event. The majority of weddings will fall into this segment.
Ages 25-55: The persons that fall into this age group are employed, middle to upper-middle class families. The reason they choose event planners is they are too busy to do it themselves. Therefore, Exclusive Events, will be on hand for questions, contact will be moderate in length but occur regularly so as not to disturb the daily life of the families. These events will generate moderate revenues.
Service Business Analysis
- Exclusive Events, an events coordination company is in a unique position of competition. We compete against hotels with conference facilities, conference centers, other event planners both on the large and small scale, persons within an organization who are assigned the task of organizing an event, and people who wish to organize their own events without the benefit of assistance. The benefits and drawbacks of each of our competitors as compared with the services we offer are hardly a match in quality and price.
- Hotels and Conference Centers
Strengths: On-site facilities, equipment, and support staff.
Ability to transport and house persons for overnight stays.
Able to internalize costs of transportation and equipment.
Weakness: Often very expensive, impersonal, rely on unskilled labor for support staff. The error rate is high due to high volume and traffic from other events happening at the same time.
Exclusive Events, an events coordination company deals with a diverse market of clients. Within each market segment, closing of sales will differ. Each approach is described as follows:
- Private and Public Organizations
Sales will be concluded one to two days after the end of the event. A follow-up phone call will be placed informing the client of the total cost, number of attendees, and information about the billing packet that will arrive at their offices. Feedback forms will be included in these packets to ensure the client is being served as they deem appropriate. Form letter thank-yous will be sent following each event.
Sales will be concluded with a follow-up phone call one to two days after the event. The phone call will explain the total cost of the event, number of attendees, and information concerning the billing. Individual parties of any age group are placed on a billing cycle. Invoices will be sent out the 25th of the month and will be due the 10th of the following month. Feedback forms will be included in these packets to ensure the client is being served as they deem appropriate. Thank-you cards will follow each individual event.
By beginning on a smaller scale, Exclusive Events, an events coordination company has the foresight to grow at a rapid pace to keep up with demand. We wish to maintain a steady rate of sales growth; however, we understand that sales of products and services will vary in different months. As noted in the graph and chart, rapid increases during the holiday season will boost sales, then allow that growth to level off at a steady rate.