An Event Planning Company Management Essay Example

An Event Planning Company Management Essay Example An Event Planning Company Management Essay An Event Planning Company Management Essay The S M Events is an event planning company specialising in corporate customers.A S M Events will offer two types of services, retreat preparation services every bit good as merchandise launch event planning.A The retreat preparation services will be either leading development preparation or teaming accomplishments training.A For both types of retreats, S M Events can take attention of the planning of the event, every bit good as really hosting the preparation through the usage of one of S M Event s strategic concern spouses. The corporate market for event planning is steady and profitable.A For some big companies, economic downswings mean cuts in preparation. This is, nevertheless, A merely the instance for unforesightful companies.A The benchmark companies may pare down the work force during a downswing, but they do non cut financess for training.A They recognize that puting in human resources is ever a good investment.A S M Events intends to gain nicely from this.A Additionally, even in economic downswings, companies still have merchandise launches and will still necessitate person to form these events.A In short, the demand for corporate event planning/hosting services seldom diminishes, it is a steadily increasing demand that S M Events will capitalise on. S M Events is an equal chance concern doing its expertness and its merchandises available to assist its clients plan their ain events. Party Packs ( complete kits for their event ) , make hosting a party a catch, right down to the refreshments. The event planning package brings synergistic event planning every bit near as their personal computing machine. Through these and other low-cost merchandises and services, S M Events aims to be the figure one resource for any event. Introduction: S M Events will be located in Little India ; will offer event planning for corporations. S M Events will be specialising in training/leadership retreats, squad edifice accomplishment retreats and merchandise launch events.A S M Events will be located in office infinite near Kerbau Road in Little India. S M Events staff of two, with legion contract sellers, plans events, writes event-planning merchandises, and trains country pupils in the art of event planning. S M Events is invested in the community it resides in. S M Events is, in portion, the reply to demands of the societal universe, on the working household, heavily-burdened office, out-of-town concern, or particular juncture in demand of particular acknowledgment. As a concern, we understand the demands of public and private organisations. As parents and household members, we understand the demands of puting particular clip apart from other events in our lives. S M Events strives to carry through these ends. Start-Up Summary: Through careful planning on the portion of the laminitiss, the starts up costs for S M Events are minimum. It began as a home-based concern with small overhead, and it continues to demand fewer spendings of financess as a service-based concern. The start-up cost investing financess were assets saved from anterior net incomes by the proprietors who did event planning on a parttime footing before set uping themselves as a concern. It is the want of the laminitiss to stay a debt-free constitution. However, acknowledging that in world non all variables are governable, outside funding is a feasible option. Both laminitiss own places and have a perfect recognition evaluation. Start-up Start-up Requirements Start-up Expenses Legal $ 200 Stationery etc. $ 300 Booklets $ 185 Advisers $ 200 Insurance $ 145 Rent $ 150 Research and Development $ 0 Expensed Equipment $ 1,985 Other $ 200 Entire Start-up Expenses $ 3,365 Start-up Assetss Needed Cash Balance on Get downing Date $ 2,300 Start-up Inventory $ 0 Other Current Assetss $ 0 Entire Current Assets $ 2,300 Long-run Assetss $ 0 Entire Assetss $ 2,300 Entire Requirements $ 5,665 Funding Investing Siddharth A ; Arjun $ 3,400 Other $ 265 Entire Investing $ 3,665 Current Liabilitiess Histories Collectible $ 0 Current Borrowing $ 2,000 Other Current Liabilitiess $ 0 Current Liabilitiess $ 2,000 Long-run Liabilitiess $ 0 Entire Liabilitiess $ 2,000 Loss at Start-up ( $ 3,365 ) Entire Capital $ 300 Entire Capital and Liabilitiess $ 2,300 Gross saless Forecast By get downing on a smaller graduated table, S M Events has the foresight to turn at a rapid gait to maintain up with demand. We wish to keep a steady rate of gross revenues growing ; nevertheless, we understand that gross revenues of merchandises and services will change in different months. Gross saless Forecast Gross saless Forecast Gross saless FY 2013 FY 2014 FY 2015 Private $ 206,170 $ 276,099 $ 299,002 Public $ 113,185 $ 178,490 $ 193,000 Other $ 33,794 $ 40,081 $ 62,777 Entire Gross saless $ 353,149 $ 494,670 $ 554,779 Direct Cost of Gross saless FY 2013 FY 2014 FY 2015 Private $ 312 $ 330 $ 355 Public $ 210 $ 246 $ 346 Other $ 132 $ 151 $ 189 Subtotal Direct Cost of Gross saless $ 654 $ 727 $ 890 Important Premises Tax rates are noted for information. We carry no loan load that would be affected by these rates. What hits S M Events the hardest ( but non about are bad as other service concerns ) , is the revenue enhancement rate of 23.5 % , which is about 1 one-fourth of the entire gross revenues. As S M Events continues to turn, these Numberss will be mention instead than influence. General Assumptions FY 2013 FY 2014 FY 2015 Plan Month 1 2 3 Current Interest Rate 8.92 % 8.92 % 8.92 % Long-run Interest Rate 7.99 % 7.99 % 7.99 % Tax Rate 24.04 % 23.50 % 24.04 % Gross saless on Credit % 60.00 % 60.00 % 60.00 % Other 0 0 0 Projected Net income and Loss Leading the industry in event planning requires the usage of the resources available at the lowest cost. As noted in the tabular array, we spend less money on operating expense than other event contrivers with an outside office or office infinite in their ain installation. This savings allows us to market in originative ways and pass financess on enlargement into other countries when the clip is right. Pro Forma Profit and Loss FY 2013 FY 2014 FY 2015 Gross saless $ 353,149 $ 494,670 $ 554,779 Direct Costss of Goods $ 654 $ 727 $ 890 Other $ 196 $ 203 $ 221 Cost of Goods Sold $ 850 $ 930 $ 1,111 Gross Margin $ 352,299 $ 493,740 $ 553,668 Gross Margin % 99.76 % 99.81 % 99.80 % Expenses: Payroll $ 56,044 $ 63,310 $ 66,560 Gross saless and Marketing and Other Expenses $ 146,013 $ 5,700 $ 6,119 Depreciation $ 110 $ 102 $ 96 Leased Equipment $ 0 $ 0 $ 0 Utilities $ 516 $ 0 $ 0 Insurance $ 258 $ 0 $ 0 Rent $ 1,440 $ 0 $ 0 Payroll Taxs $ 6,725 $ 7,597 $ 7,987 Other $ 0 $ 0 $ 0 Entire Operating Expenses $ 211,106 $ 76,709 $ 80,762 Net income Before Interest and Taxes $ 141,193 $ 417,031 $ 472,906 Interest Expense $ 235 $ 334 $ 430 Taxs Incurred $ 33,345 $ 97,924 $ 113,591 Net Net income $ 107,614 $ 318,773 $ 358,885 Net Profit/Sales 30.47 % 64.44 % 64.69 %