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Feasibility Study of A Wedding Planner Office Project

A Wedding Planner Office Feasibility Study

One has to think deeply before starting any new business such as a restaurant, a coffee shop or a wedding planner office. This can be done through making a feasibility study to understand everything before starting. For all people, the day of the wedding is the best day in all the life. One starts a new living with the person he loves in this day. Without a good planning and managing, the wedding day would not be good. This field has been chosen because it is a promising field and there are not many companies that plan for wedding days. This is the reason that made me think of establishing a new business of a company that plans and organizes wedding days.

Mission and Objectives:

The objectives of the business, the mission, the vision and the funds of the company. The objectives of this business is managing the best weddings and making profits. The mission of the Wedding Ring Company would be helping people to have the best day in their lives. The vision of the company is being the biggest wedding company in the Gulf Region through establishing many branches in the nearby countries.

Company Overview:

I have decided to start up a new business in wedding planning and organization. . The name of the company would be “Wedding Ring”. This name is very attractive and it shows the activities the company would do. The funds of the company would come through finding a partner in the company. If the project needed more money, it would be better to ask relatives for a bank loan. If all this money is not enough, we can make an advertisement for shareholding. The location of the company would be at Kornish. The reason of this is that most of the people like to make their weddings on Kornish to enjoy the open air of the Arabian Gulf.

Products and Services:

The company does not provide products. It provides services like planning and organizing wedding parties. There are not many companies in the same field and this gives Wedding Ring Company a bigger chance. Moreover, the company would make 3D paintings on the floor and the walls with using amazing decorations and lights. The company would be a promising company in the field and attracting many customers to it.

Management and Key Personnel:

This project needs an experienced one in the field of wedding to contact with clients and reply at their inquiries. This made me think to hire an experienced wedding organizer. This organizer would be responsible of contacting with the clients besides buying the requirements of the weddings like foods and drinks. The wedding halls need experienced chefs to prepare the best foods and drinks for the guests. The place also needs a decoration company to make the halls look amazing. The lights are very important and they can cause an amazing feeling at the guests.

Target Market:

The targeted market of this project are all the residents of the gulf either they are national or expatriates. There are many Indians ad Filipinos come to gulf and they marry in the country. If they found such services for good prices, they would get to the company to plan their weddings. Thus, there should be a full awareness of the culture of such people in order to cope with their wedding rituals.

Marketing Strategy:

The marketing strategy would depend on the television and radio advertising besides banners and business cards. This plan would depend on raising amounts of money that would be increased after profiting from the project. This project needs a lot of marketing and this would through panels on the streets, advertisements on TV channels, audio advertising on radio channels and stickers on vehicles.

Operational Plan:

The administration of the project would be through the founder, as he will hold the position of a manager in order to follow the project. This budget will be for hiring a place with halls, preparing the wedding halls and hiring chefs and staff. An accounting company will hold the financial affairs and prepare the income statement of the company. This saves the money that would paid monthly for hiring an accountant.

Major Risk Values:

The high cost of wedding planning is not good. This cost is because of the high expenses made by Wedding Ring Company in addition to the lack of experienced organizers. There are also hotels that provide the same services and this may affect the project.

Financial Projections and Requirements:

The startup budget of the project would be 20,000 USD. This budget will be used in order to hire halls for the wedding and a good office for administration. This money will also be used to make the decorations and hire chefs, waiters, and a marketing employee besides an experienced wedding organizer.

Exit Strategy:

The exit strategy is very important as any project can make profits or losses. The exit strategy of this project is very simple, as the project will depend on hiring halls and employees. If the matter went wrong, the company can stop paying for this changeable costs. The equipment also can be sold easily.

Feasibility Study of A Wedding Planner Office Project

Ali Badr
By : Ali Badr
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