International Institute of Hotel Management

Semester 6 – Assessment 2
Major Report – Food and Beverage

Under the guidance of

Ms. Tomishra Chakraborty

Submitted by
Rohan Kurup

Final Year
2017-2020

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DEVELOP A BUSINESS PLAN TO START YOUR OWN EVENT
MANAGEMENT COMPANY IN AHMEDABAD

Executive Summary
Welcome to the future of event planning! Wonderland Event Management, The Event Planning
Specialists, brings to the community of Ahmedabad a new breath of air in the event planning
market. By combining old fashioned values, going the extra mile, and using cutting edge event-
planning software, Wonderland Event Management will lead the market, providing the same quality
results, every time. The report consists everything for a start-up and how to boost up its sales with
the current market trend. This also have the business plan for the company, its operating cost, staff
salary, getting investors and with a company name and its logo.

Wonderland Event Management is an equal opportunity business making its expertise and its
products available to help its customers plan their own events. Through these and other affordable
products and services, Wonderland Event Management aims to be the number one resource for any
event. In this whole business plan, we describe our industry as well our aim to choosing this
business. We also broadly determine our service and facilities we provide to our client. Party Packs
(complete kits for their event), make hosting a party a snap, right down to the refreshments. The
corporate market for event planning is steady and stable. The report consists everything for a start-
up and how to boost up its sales with the current market trend. This also have the business plan for
the company, its operating cost, staff salary, getting investors and with a company name and its
logo.

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Contents
Executive Summary...............................................................................................................................2
1. Business Description......................................................................................................................4
A) Company Name: Wonderland Event management...................................................................4
B) Mission and Vision of our company...........................................................................................5
2. Do market research, competitor analysis and SWOT analysis.......................................................5
A) Market Research........................................................................................................................5
B) Competitive Advantage.............................................................................................................6
C) SWOT Analysis...........................................................................................................................6
3. Business plan for the company......................................................................................................7
A) Office Space Requirement.........................................................................................................7
B) Human Resource Requirement..................................................................................................8
C) Project Costs (Expenses)............................................................................................................8
4. Promotion......................................................................................................................................9
5. Registration of Company...............................................................................................................9
6. Name and logo of company.........................................................................................................11
7. Registration to Pay Tax................................................................................................................11
8. Documents required....................................................................................................................11
9. Bibliography.................................................................................................................................12

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 1. Business Description
A) Company Name: Wonderland Event management
As Wonderland event management is a new business firm, its first aim to complete its legality and
forming a name and its way of operation. Wonderland’s event management also set its milestone to
recover its investment during the first year of its operation. Wonderland events management will do
and take every possible initiative to recover its investment through providing its variety range of
services to its potential client and earn a moderate profit margin from every event it organizes. The
Wonderland Event management will offer event planning and hosting for individuals and
corporations. It will take care of special events occur for the following purposes:

 Celebrations (fairs, parades, weddings, reunions, birthdays, anniversaries)

 Education (conferences, meetings, graduations)
 Promotions (product launch, political rallies, fashion shows)
 Commemorations (memorials, civic events)

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 B) Mission and Vision of our company
Mission of Wonderland Event Management will be to provide its customer services to their utmost
satisfaction. The vision of Wonderland Event Management is positioned towards becoming the
market leader in event management through hard work and commitment and maintains the
leadership. The company initiates its dedication to serve the company services to their utmost
satisfaction. The company is primarily a service business, we also offer products to support our
customers in planning the event themselves.

2. Do market research, competitor analysis and SWOT analysis

A) Market Research
The market analysis is distinctly different than the industry analysis. Whereas the industry analysis
focuses on the industry that a firm will participate in (i.e., toy industry, software industry, men’s
clothing industry), the market analysis breaks the industry into segments and zeroes in on the
specific segment (or target market) to which the firm will try to appeal. In this part we segment our
market and select our target market. We also analysis our possible competitors. When it comes to
analysing the market for a business-like event management you need to consider every possible
aspect. Market analyses is not an easy task, it has been bifurcated into three Market

Overview- It is where you need to understand the event industry and must be aware of all its pros
and cons.

Target Market- Here you need to understand where you are starting your business and what is the
scope there.

Market Opportunities- You require to have an idea about where and how you are going to stand in
the near future.

In Gujarat, the prospect for event management businesses is very good. The huge market out there
has not been explored yet. This market can be distributed into two major segments.

 The corporate clients - This section includes various multinational companies, local public and
private limited companies, financial and non-financial institutions, joint ventures and franchises,
small businesses, NGOs, research institutions, private and public educational institutions, showbiz
companies, social marketing companies, theatre groups, cultural forums etc.

 The non-corporate clients - Due to changes in our socio-cultural and economic condition, people
are spending more time at work. As a result, they have less time to spend on social affairs like
marriages, get together or a may be a birthday party for the children, or concert and other family
function as well as social functions.

There is an enormous growth in the event management industry in the past decade. Hence, there
are a lot of competitors prevailing here. In order to stand among these dominating competitors, you
must follow tenacious marketing strategies. You must outline your pricing strategies, what services
will you offer, what would be price per service and what benefits you will if one caters your service.

Some of the prominent methods are-

Augment on-line and social media marketing with off-line marketing.

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Connect with hotels, resorts, event venues, and catering firms to identify special packages to
market to clients.

Contact relatives, friends and former colleagues and remind them that referrals are welcome.

Advertising and Promotion- Several forms of advertising and promotion will be used including a
website, partnerships/ networking with the Chambers of Commerce, and participation at various
tradeshows.

Target Customers

Event management business can cater to different groups of people from all walks of life. In this
model the target markets are the middle- and upper-income groups as these groups have the
propensity and the money to spend as much as they can to make their events as classy or glamorous
as possible. The potential customers are following:

• Couples, Brides to Be, Families

• Cooperate organizations, Religious organizations and Political organizations

• The government (public sector)

• Entrepreneurs

B) Competitive Advantage
We are quite aware that to be highly competitive in the event planning and entertainment industry
means that you should be able to deliver consistent quality service, your clients should be able to
experience remarkable difference cum improvement and you should be able to meet the
expectations of both participants and organizers of events. We will make a team of people who are
core professionals and highly qualified event managers which will play as a competitive advantage
for us. We will also give incentives and welfare packages to our employees so that they will be more
willing to help establish this company and achieve all objectives

C) SWOT Analysis

 Strengths
Strength addresses everything that your business can do well or is strong at. All the attributes that
can help you achieve success. It can be either tangible or intangible. Any internal factor like,

 Determination of resources
 Usage of these resources for the target audiences
 Ascertaining capabilities
 Advantages
 Ways to improve

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 Weaknesses
Weaknesses address everything that your business cannot do well or is not strong at. All the
attributes that hinder your achievement as a business. Weaknesses of your business are opposite to
the strengths of your business. Any internal factor like,

 Unexplored resources
 Weak business team
 Lack of coordination
 Poor competitor analysis
 Poor funding

Opportunities
Opportunities address everything that works in favour of your business. Any external factors like

 underserved market
 little competition
 the emerging need for the particular service and
 media coverage

Threats
Threats are exactly opposite to the opportunities. Any kind of external factor that refrains your
business from achieving the target or making it a success like,

 Economic changes
 Changes in market trends
 Strong competition
 Natural disaster
 Taxes

3. Business plan for the company

To analyse the project’s cost requirements for human resource, equipment, material etc cost and revenue
assumptions for the event management business have been made here.

A) Office Space Requirement

The required space for the proposed Event Management Business will be acquired on rental basis. The space
requirement and the cost of expenditure on that space are estimated considering the facilities included in the
management office and the storage space. As the renovation will be done for both places its cost has also
been added.

Description Estimated Area Renovation Cost Total Cost Monthly Rent (Rs.)
(square feet) per unit

Office 200 1000 200,000 30,000

Storage 1500 200 300,000 20,000

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 B) Human Resource Requirement
Human Resource Requirement for performing operations of Event Management Business are
mentioned below:

Description No of Employees Monthly Salary per Monthly Salary (RS.)

Person (RS.)

Manager 1 60,000 60,000

Event Planning Consultant 2 25,000 25,000
HR Manager 1 30,000 30,000
Marketing Executive 1 30,000 30,000
Wedding Planner 1 20,000 20,000
Consultant

Accountant 1 35,000 35,000

Total 7 200,000 200,000

C) Project Costs (Expenses)

Capital Cost
 Renovation Costs = Rs.200,000
 Office Equipment and Furniture = Rs.438,000
 Decoration Items and Equipment’s = Rs.3,571,100
 Cutlery and Crookery Cost = Rs.533,800
 Office Transportation Cost= Rs.800,000
 Security Deposit Rent (6 Months) = Rs.300,000
 Pre operating Costs = Rs.100,000
 Total Capital Cost = Rs.7,242,900

Working Cost
 Rent (3 Months) = Rs.150,000
 Cash = Rs.500,000

Total Working Cost = Rs. 650,000

Total Business Cost = Rs. 6,592,900

4. Promotion
Business promotion is the most important task in marketing plan. However, Wonderland Event
Management also decide to adopt every promotional activity to promote our business. As new firm
Friends Event Management will take following promotional strategy:

 Networking - For most planners, networking is at the top of the list in terms of developing a strong
client base. Networking can help our business in two ways. If people have met us and know what

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services we offer, they may refer business to us or use our service themselves. Furthermore,
networking with hotels, caterers and so on will give us a chance to meet some of the people whose
services we may need as we plan events.

 Advertising - Friends Event Management will start advertising on newspapers ten days before the
inauguration. The firm may choice Divya Bhaskar and Times of India. The Ad on first four days will try
to create public awareness about the event management organization. On the 10th day which would
be the inauguration day, the firm will give a full-page booklet on those papers about Wonderland’s
Event Management’s organizational activities, services and other related topics. Wonderland Event
Management will also advertise in online portal to reach attention of every possible viewer.
Wonderland Event Management will also advertise in Different weekly or monthly magazine to
promote our business.

Business Plan - Electronic media also help to advertise our business. We will choice 2-3 TV channel to
promote our business primarily. We also advertise through mobile operator. By sending message to
every mobile user in Gujarat we can reach maximum number of viewer’s attention.

Banners will be put on prime points on Ahmedabad city for the launching and long-term
promotional campaign.

 Social Site Social site like Facebook and twitter are also good way of promoting business. In this
way we open our official page which will be linked with our official site. In this way we can capture
young people who has very much interest in event management business and also want to organize
event will pay their attention toward us. We also can get feedback from them to improve our
service.

5. Registration of Company
Obtaining DSC (Digital Signature Certificate)

To incorporate an OPC every director is required to obtain DSC (Digital Signature Certificate) from
the authorised DSC issuing authority. The need of DSC is to file the documents electronically with the
MCA as this is the only authentic and secured way to submit the documents through e-filing. DSC will
be used throughout the registration process to digitally sign the relevant forms.

Acquire DIN (Director Identification Number)

Along with the digital signature certificate, the key shareholder of the company should also obtain
the DIN (Director Identification Number). DIN is a unique identification number which is issued by
the government (Ministry of Corporate Affairs). For a person intending to become the director of the
company should apply for DIN in Form DIR-3 with the following documents:

 Identity proof- PAN Card

 Address proof- Aadhaar Card/Driving License/Voter ID Card/Passport/Telephone
Bill/Electricity Bill/Ration Card/Bank Statement
 Passport size photograph
 Form DIR-4 verification of applicant for application for DIN

Application for the Name Approval

An application needs to be filed in Form INC-1with the MCA (Ministry of Corporate Affairs) along
with the prescribed fee for reserving the name of the company as per the provisions of the

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Companies Act, 2013 and Companies Incorporation Rules, 2014. Following information has to
provide in the form:

 The applicant can provide maximum 6 names in an application in preferential order,

advisable to check the availability before making the application.
 Meaning and significance of the proposed names of the companies
 The names provided in order of preference should be ended with the word ‘One
Person Company’.
Once the name is approved by the ROC (Registrar of Companies), it will reserve for the 60 days from
the date of the application made in INC-1.

Nominee consent form

Appointing a member as a nominee is a unique requirement in the process of incorporating the OPC.
Every One Person Company required to mention the name of a person as a nominee in
memorandum who shall become a member of the company in case of death or inability of a
member. As per the provisions of Companies Act, 2013 and Companies Incorporation Rules, 2014,
prior consent must be obtained from the concerned member in the prescribed form INC-3.

Draft MOA *(Memorandum of Association) & AOA** (Articles of Association)

The next step is to draft the rules & regulations and objects of the company after getting the name
approval from the ROC. MOA and AOA are the fundamental requirement of a registered company
and is mandatory for moving further in the process. Get the memorandum of association and articles
of association drafted and printed.

*MOA- Memorandum of Association is a legal document which contains the fundamental conditions,
main objects and other objects of the company.

**AOA-Articles of Association is a document which contains the rules and regulations of the
company as well as the duties and responsibilities of the members.

Filing of incorporation documents with ROC

After getting name approval and drafting the MOA and AOA of the company, following forms shall
be filed with the ROC for incorporation of the OPC within 60 days from the date of filing form INC-1:

 SPICe INC-32: Application for incorporation of company

 Pursuant to section 4, 7, 12, 152, 153 of the Companies Act, 2013 read with Companies
Incorporation Rules, application for incorporation of company filed with the ROC in SPICe
form INC-32 with affidavit and declaration by the director.
 SPICe INC-33: e-Memorandum of Association (SPICe MOA)
 SPICe MOA is the recent initiative taken by the MCA which makes the drafting of MOA
simpler. The whole framing format of MOA is given in the form INC-33. You just need to
fill the details and objects of the company and subscriber details.
 SPICe INC-34: e-Articles of Association (SPICe AOA)
 Electronic Articles of Association or form SPICe INC-34 is recently introduced by the MCA
to simplify the framing of AOA. It can be prepared in English as well Hindi language. The
whole format is given in the form which describes the rules and regulations for the
management of company.
 INC-22: Notice of situation of registered office

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Company shall furnish the details of its register office to the ROC within 30 days from the
incorporation in form INC-22 along with the prescribed fees. If is there any changes in the situation
of the registered office then intimate ROC about such changes within 15 days of the change.

The ROC will take up the application for scrutiny and subsequently, the ROC approves such
application and issues Certificate of Incorporation. During scrutiny, the ROC may ask for additional
documents or clarification and the director is bound to submit the documents as such needed.

Upon receipt of Certificate of Incorporation, the company can start its operations officially.

6. Name and logo of company

Name of company - Wonderland Catering and Events

Logo -

7. Registration to Pay Tax

 Income tax
 Service tax
 Income tax refund
 Tax deducted at source (Tds)

8. Documents required
➢ Pan Card

➢ Bank Account Details

➢ Address Proof

9. Bibliography

Damm, S., 2012. Event Management. 2nd ed. Hamburg: Diplomica Verlag, pp.31-34.

Farrow, S., 2015. Flexible Manufacturing: Market Structure and Market Failure. Journal of Policy
Analysis and Management, 4(4), p.583.

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Goldblatt, J., 2007. Event Management & Event Tourism. Festival Management and Event Tourism,
4(3), pp.157-158.

Incometaxindia.gov.in. 2020. Registration Of Taxpayer On E-Filing Website. [online] Available at:

<https://www.incometaxindia.gov.in/Pages/tax-services/registration-e-filing.aspx> [Accessed 26 April
2020].

Karadakis, K., Kaplanidou, K. and Karlis, G., 2010. Event leveraging of mega sport events: a SWOT
analysis approach. International Journal of Event and Festival Management, 1(3), pp.170-185.

Mca.gov.in. 2020. Ministry Of Corporate Affairs - Incorporation. [online] Available at:

http://www.mca.gov.in/MinistryV2/incorporation_company.html [Accessed 25 April 2020].

Miranda, R., 2016. Event Management Volume 20: How Have We Done? Event Management, 20(1),
pp.1-2.

Pao, C., 2007. The global attractor of a competitor–competitor–mutualist reaction–diffusion system

with time delays. Nonlinear Analysis: Theory, Methods & Applications, 67(9), pp.2623-2631.

Park, K. and Park, S., 2016. Topic Trend of Event Management Research. Event Management, 20(1),
pp.109-115.

Skard, S., Adam, S. and Engdahl, L., 2020. HOST OR SPONSOR? CONSUMER RESPONSES TO
EVENT ORIGINS AND BRAND-RELATED EVENT LEVERAGING. Event Management, 3(12), pp.77-
81.

Special Events Galore, 2017. Maximize ROI With Event Business Plan. 17(10), pp.5-5.

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