ENTREPRENEURIAL BUSINESS PLAN
PREPARED BY SAMIKSHA GUPTA LEVEL 3
PEARL ACADEMY NEW DELHI 110028
B.A. (HONS) FASHION MEDIA COMMUNICATION
DECLARATION
This is to certify that this Project is a bonafide work of Samiksha Gupta, in fulfillment of requirement of Undergraduate Degree of B.A. (Honors) Fashion Media Communication (2015-2019). Signature SAMIKSHA GUPTA
ACKNOWLEDGEMENT
I am grateful to my professors Mr. Aditya Vij and Ms. Aparna Mudi whose encouragement, guidance and support from the initial stage of writing this business proposal enabled me to develop an understanding of the steps involved in setting up a business and becoming a successful entrepreneur. Throughout my business proposal writing period, they provided encouragement, sound advice. good teaching and lots of interesting ideas. I would also like to thank my friends and classmates who spent invaluable time with me to brainstorm on various topics related to my business.
Signature of student & Date
Index 01 Rationale Mission 02 Vision Executive Summary 03 Company Ownership 04 Market Analysis 06 Market Needs 07 Target Audience 08 Brand Identity Prism 09 SWOT Analysis 11 MACRO Analysis 15 MICRO Analysis 18 Marketing Mix (7 P's) 30 Unique Selling Points 31 Financial Report 37 Taxation Feasibility Statement
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Rationale To facilitate broad understanding of a formal Business Model with concepts, principles, issues and stages and, also to familiarize ourselves with the industry practices & requirements to be an entrepreneur. To understand the above mentioned, this project focuses on starting up a wedding consultancy firm. Bespoke wedding consultants will be a standard and licensed professional wedding planning company that will be based in New Delhi, India. We will handle all aspect of wedding planning such as wedding coordination, wedding shower / Bachelor’s eve, manage client’s time constraints, manage client’s budget, day-of-coordination services, conceptualization and design, full coordination services, and month of direction et al. We are aware that to run a standard wedding planner company can be demanding which is why we are well trained, licensed and will be well equipped to perform excellently. We are a client-focused and result driven wedding planner company that provides broad-based services at an affordable fee that won’t in any way put a hole in the pocket of our clients.
Mission Our mission is to provide professional and trusted wedding planners services that assist our clients in achieving their personal goals as it relates to their wedding event. We are going to position the business to become one of the leading brands in the wedding planner line of business in the whole of New Delhi, and also to be amongst the top 20 professional wedding planner companies in India within the first 10 years of launching the business.
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Vission Our vision is to build a professional wedding planner company brand that will become one of the preferred choices for about to wed couples in the whole of New Delhi and every other city where our services will be advertised. Our vision reflects our values: integrity, service,excellence and teamwork.
Executive Summary Bespoke Wedding Consultants is a start-up company that provides weddings, holy union, and anniversary consulting services to brides, grooms and other family members. We are a full-service bridal consulting group and our goal is to put the "fun" back into planning a wedding, holy union or anniversary party. Too many people become overly stressed and frustrated when planning these wonderful events. We are experienced and professional consultants and will use our expertise to help create memorable and stress free events for our customers. By doing this, our clients can sit back and enjoy their event. The result? We create events suited to the couple's unique style--a true expression of their relationship and individuality as a couple.
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Company Ownership Bespoke weddings will be established as a sole proprietorship. All aspects of the business will be documented to ensure clients can count on the same results every time. The sole proprietor will use her name (Samiksha Gupta) as the guarantor of each service. Therefore, the sole proprietor will embody the vision and mission of Bespoke weddings.
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Market Analysis Nearly $54 billion are spent every year on weddings and receptions. Therefore, professional wedding consultants are a commodity, not a calamity. Bespoke Wedding Consultants are full-service wedding consultants that will offer a variety of services to their clients. We pride ourselves on being professional and courteous at all times and we have packages to suit everyone's needs. As previously stated, marriage is a billion dollar industry, therefore, just about everyone we meet is a potential client. However, we mostly advertise to brides, grooms, and family members. Wedding services market is a huge opportunity where 10 to 12 Million marriages set to take place every year. 20.6% of females plan to spend Rs.10 to 20 lakh while it was 11.2% of males for the same spending bracket. 6.1% female respondents spends Rs. 20 to 40 lakh on the wedding.
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Market Analysis WEDDING BUDGETS: In tune with the prevailing tradition of wedding expenses being heavier on the bride’s side, more 20.6% of females indicate they can spend Rs. 10 to 20 lakh while it was 11.2% of males for the same spending bracket. In the same spending bracket, North India indicates the highest propensity to spend with 18.6%, South 12%, West 11.1% and East 10.9%. 6.1% females are ready to spend Rs. 20 to 40 lakh on the wedding. FOOD: 31.84% of females indicate that they plan to spend between Rs. 2 and 5 lakh, while 7.87% said they’d spend more than Rs. 5 lakh. It was 27.62% and 6.90% for males respectively. WEDDING PLANNER: 40.31% of males indicate that they are planning to use a wedding planner while 36.21% females indicatefor the same.
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Market Needs The market needs for wedding planning services are strongly shaped by the customers' desire to have a perfectly planned and executed wedding ceremony. Although both major customer segments, brides and grooms and family members, plan and budget for the wedding ceremony as far as a year or more in advance, they often realize that they cannot make all the necessary preparations by themselves in a cost effective manner. Strongly affected by the established social values, such customers seek professional advice to ensure that all the important aspects of the wedding ceremony meet or exceed perceived expectations
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Target Audience About to wed couples, Bachelors, Spinsters, Celebrities and public figures who are still singles and are getting set to wed
cs i h p gra o m De
Age - 25-35 Gender - Both females & males
cs i h p ra g o h Psyc
Personality - Likes to travel, Tends to read online and subscribe to magazines, motivated by unique flavours and designs, Educated youngsters, worried about their appearance, dress and budget, relatively young, easy to find them online.
Income - Annual income of 2-3 crores and above, high earners, business men, working adults whose spending ability is good enough, middle, upper middle class and rich people, Urban population Values - Brides, grooms and family members with deep rooted Indian traditional values and customs, Marital status - Mostly single, always consulting friends & family Couples for Anniversary for suggestions, strong family celebrations and for getting rerelationships. married Ethnic Background - traditional values, family oriented couples
Lifestyle - Professionals who work long hours, travel often, have very full agendas and do not have the time to plan and organize a wedding. Social activities - Girls and women attending bridal shows, looking for inspiration from blogs, website & ezines.
cs i h p ra g o e G
Locations - Majorly New Delhi and metropolitan cities like Mumbai, Bangalore, Kolkata
Physique - Red - Colour of love and auspiciousness, Logo - knot, holy union, Depicts celebrations, knot for life. Relationship Sharing nice moments together, Exchange of value, Based on heartfelt & emotional connection, Friendly, Trustworthy.
Personality Charismatic, Compassionate, Creative, Decisive, Energetic, Dynamic, Enthusiastic, Open minded, resourceful
Bringing dreams to life
Reflection - Festive, trendy, creative, willing to try new things & experiment, enjoy living a social lifestyle, modern and open minded and at the same time, give family and relationships priority.
Culture - Deep rooted Indian Values, Family spirit, Athiti devo bhav, Holy union, Care for environment, Spiritual and religious interests, love and bond.
Self Image - Traditional, Connecting people together through memorable experiences, a brand that can be trusted due to the importance placed on values, relationships. Knack of bringing dreams to life.
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Brand Identity Prism
As a new professional wedding planner company, it might take some time for our organization to break into the market and gain acceptance in the already saturated Wedding Planner industry; that is perhaps our major weakness. So also, we may not have the required money to give the business the kind of publicity that we would love to give. Seasonal demand
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Trusted and vast network of vendor base for clients Expert & dedicated management team Background in interior design that translates into wedding decor set-up. Our core strength lies in the power of our team; our workforce. Our expertise in organising eco-friendly weddings with the same unique outcome, is one of our biggest strength as clients these days are becoming more & more aware as well as conscious in regard to the environment. We will have the the SEO for our website done professionally so people can find it on the internet.
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o T The opportunities available in the Wedding Planners industry is massive considering the number of weddings and other events that takes places on a daily basis. As a standard and licensed professional wedding planner company, we are ready to take advantage of any opportunity that comes our way. Improving economy and business.
Increased Competition High Advertising rates
The seasonality in the wedding business can be a threat.
There are normally no repeating customers, which means new customers must constantly be won.
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MACRO ANALYSIS POLITICAL: Ease of doing business removes double taxation, reduces the tax burden on new businesses, improved logistics and faster delivery of services are some of the positive points of the newly implemented of Goods and Services Tax (GST). All taxes subsumed into one amalgamated tax GST has led to lower tax rate, hassle free tax filing and reduced interaction with tax officials. Startup India Hub is a one of its kind online platform for all stakeholders of the startup ecosystem in India, including startups, investors, mentors, incubators, accelerators, aspiring entrepreneurs, service providers and government bodies. It not only provides an opportunity to connect with other members of the ecosystem but also gives access to important resources such as its Learning & Development program, information about relevant Government Schemes, a Forum to brainstorm and discuss, News and Blogs among others. Under immediate effect, the patent grant is made available within 2 and a half years instead of the previous 5–7 years. Fees are also reduced under the faster clearance route with startups having an application fee of Rs. 8,000 compared to Rs. 60,000 for companies. Guidelines have recently been published for tax exemptions available for startups until 31 March 2019. This includes an amazing three-year tax holiday. Here, the government’s dedication to promoting the growth of India’s startups is highlighted. Corruption in India raises the cost of doing business, thus increasing the costs of raw materials and other services.
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ECONOMIC: It is not a compulsion to have a wedding planner for coordinating a marriage. There are various people round the world who get married even without doing any consultation with any wedding planner. Last year, many parts of world faced with recession and with the problem of inflation. People have lost job and money. And in such situations, it is a hard time for the wedding planners to attract clients for managing their weddings. As a result, we would focus our services to provide more and more convenience and flexibility to our clients for each and every aspect of their marriage, which would make our requirement as irresistible to potential brides and grooms.
SOCIAL: The wedding ceremony is often about sharing a unique moment with friends and family. Therefore, couples may look for ideas and advice from these people. Other sources which help couples organizing their wedding are online wedding planners or bridal magazines, which are also a form of competition to wedding planners. Increase in weddings during festive and holidays seasons. Indian culture has numerous festive occasions, and people usually use these festive times for weddings and other celebrations, thus increasing business opportunities. With so many different customs and religious activities within India, it's a challenge to understand different wedding typologies and plan and execute everything accordingly.
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TECHNOLOGICAL: Technology such as internet has made it easier for couples to organize their own weddings and is a form of competition for wedding planners like us. On the other hand, technology such as social media and internet is also a big help for marketing to clients for wedding planners. Pictures on the company’s website can show couples which type of weddings have already been organized and clients can easily find our company if the SEO (search engine optimization) is done effectively.
LEGAL: The operating land of the business, must come under mixed land use law, because of the sealing issue. When it comes to environment, the quality of air in Delhi has been adversely affected by industrialization and urbanization, also resulting in health problems. As a result, there have been establishments of environmental pressure groups, noise controls, and regulations on waste control and disposal. Applying for business licenses: the lack of relevant licenses can lead to costly lawsuits and unwanted legal battles. The common license that is applicable to all businesses is the Shop and Establishment Act which is applicable to all premises where trade, business or profession is carried out.
41 Adhering to labour laws: All businesses are subject to several labour laws regardless of the size of the organization. Laws with regards to minimum wages, gratuity, weekly holidays, maternity benefits, sexual harassment, payment of bonus among others will need to be complied with. It is best to consult a legal counsel to assess the laws applicable to our startup and ensure that our startup is compliant to the required labour laws. In the early stage of operations, we will tend to hire contract with staff and vendors and having an effective contract management system will ensure that the right checks are in place for the timely fulfillment of required work.
ENVIRONMENTAL: Weather conditions is a very huge factor in the wedding industry. A wedding planner always has to keep back-up options, thus increasing extra load of work and even extra costs. One of the major advantage of organising weddings in Delhi is, that Delhi experiences all weathers, from summer, winter, rainy to autumn. Clients can easily choose when to get married and preparations can be made accordingly, hassle free. A lot of wastage in terms of food, decor and other things is done in the wedding industry. People are becoming more aware of this, and want to organize eco-friendly weddings, which our company already specializes in, bringing in great opportunity for us to expand.
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MICRO ANALYSIS CUSTOMERS: Customer’s for Bespoke wedding consultants varies as per their financial status and their willing to spend on their special day – the wedding. As per their budget, their demands would vary and there would be many aspects in which they won’t be looking for any compromise like wedding dress, jewellery and photography/videography etc, but on other hand, they may explore for some cheaper options for other facilities like flowers, cake, invitation cards etc. Our consultancy is a tailored service as per the financial requirements and budget of the customers. For some clients, it is simply a matter of guiding them through the planning process, keeping them on track and being there on the day to ensure everything goes to plan. For other clients it is a start to finish process, where we manage every aspect of the wedding planning and the day itself (all with the bride and grooms input).
COMPETITORS: Competitive analysis has shown that there are more than 20 companies currently offering some sort of wedding planning services in New Delhi. However, the majority of the competitors offer only a limited line of services like catering, flower arrangements or gifts. Shanqh luxury event planners Designers events Inc. The Wedding Planning Company Bling Mushrooms Baraati Inc. Rivaah White Water Events Rosette Weddings
61 Points of Parity: Some part of the vendor base will be the same. Basic services like floral decoration, catering and production are offered by almost all planning firms nowadays. (Product offering) Massive communication through Social Media. Same Target Audience.
Points of Differences: Aggregating a complete range of wedding services under one roof, Bespoke Wedding Consultants will offer its customers the ease of onestop shopping. Eco-friendly events consultancy Trusted and authenticity of the Vendors/Suppliers Wide range of services High quality and sustainable services Emotional bond with customers Innovative themes and concepts Hotels and Other Banquet Halls: 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 labour for support staff. The error rate is high due to high volume and traffic from other events happening at the same time. Employees or Persons Wishing To Do It Themselves: Strengths: Internalized cost of planning the event; able to add tiny personalized touches that have meaning within the group or family.
Weakness: Consumes time that could be spent on other things; may not have access to the best prices, services, and other needed resources available.
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SUPPLIERS: Suppliers are one of the most important parts of wedding planning business. We have to make sure that our business has a variety of suppliers for each and every service, who could provide the products and services as per the budget of the customers. Maintaining good relationships with the suppliers is a key factor. Our bargaining power should be strong, so that we can get products & services from the suppliers at a very low cost, thus increasing our profit margins.
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MARKETING MIX PRODUCT: The term “product” refers to tangible, physical products as well as services. For our business, it is a service-based corporate. We mainly provide the consulting service for the wedding planner. The customers can choose the fullset services or a specific part of the services. We are a full-service wedding consultant group and provide the following services: etiquette advice, event scheduling, discounted invitations and products, vendor confirmation, rehearsal attendance, supervision of both ceremony and reception setup and budget planning. We also specialize in organising Ecofriendly weddings for our clients. Accommodation services Wedding coordination Wedding shower / Bachelor’s eve Manage client’s time constraints Manage client’s budget Day-of-coordination services Conceptualization and design Full coordination services Month of direction Wedding planning consulting and advisory services
Decoration Catering Make-up & Hair stylists Production (AV, Sound, DJ) Budget Planning Security system Photography and Videography Gift Ideas Eco-friendly events: Disposable and biodegradable serveware, vessels, and utensils, venues that are beautiful on their own, requiring less décor to be added to turn them into your celebration spot, artificial flowers, invitations cards from recycled paper, potted plants, vintage decor, Charitable products, donation services of leftover food, Shuttle services to save fuel Destination Weddings Trousseau planners Invitation cards Honeymoon Packages
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PRICE: Our service provided is based on the client’s budget. But, we guarantee that our service is valuable and its price for sure is reasonable. Custom based packages, tailored according to the client's wishes and budgets. We will charge 20% of fee for all our services.
PLACE: Initially this will be a home-based business in Punjabi Bagh, Club Road, New Delhi; however, by Year 5, we intend to expand our facilities into a well-equipped and operational office. This is a place which can attract many people, with so many restaurants and clubs, this location is always full with youngsters which will increase the awareness of our brand. With ample parking space, situated on the main road, it is easily accessible.
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PROMOTION: Social Media: We will create a Facebook & Instagram page for our business, and use it sparingly for promoting our business. Postings to our Facebook wall will include some fun tidbits about a new wedding venues in the region or some behindthe-scenes anecdotes from our events. We will share images, provide wedding and event tips, showcase client's stories as well!
With Twitter, we will tweet quick messages to our subscribers to remind them about our business and use hashtags like #Bespokeweddings. Blog: Our blog will give people who want to know a little bit more about us and our business greater insight. From how to set up an event, to how to start an wedding planning business, new trends in the industry, cutlery ideas, there are endless article ideas to keep our clients engaged and updated, thus creating an aspirational value. Direct mail: We will distribute our brochure via direct mail. Making sure our mailing list is well chosen.
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PROMOTION: Brochures. A well-designed, professional brochure will help cement our image as a professional planner. Prospective clients will make judgments about our company based on our brochure, so we will make sure it's conceived and produced at the highest level possible.
The brochure will include all the information and pictures. The brochure will depict the essence of our brand. Cross-Promote With Vendors and Other Partners: Wedding planning are just one type of business tapped into the wedding industry. DJs, caterers, reception halls, florists and many other vendors are constantly working to gain business. To do that, we will set up partnerships and cross-promotional relationships with other vendors to try and share business with other entities that aren't direct competition. Develop a Website & Social Media Identity: Having a website is the cornerstone of any new venture. Even before we'll print business cards, we will launch a website for our company, publish ads in free classified sites and use social media extensively.
This is necessary to create a buzz about our new wedding planning company and the services we offer. This will let people learn about our brand from the web. Direct marketing campaigns will start from here only. We will use SEO tools extensively for a good Google ranking. Encourage word of mouth marketing from friends & family. Advertise our business in relevant business magazines, billboards and radio stations. Collaborate with Applications: Wed me Good & Urban Clap are apps where you can find the best wedding vendors, with prices and reviews at the click of a button. We will collaborate with these trending apps, to increase our visibility to the clients.
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PEOPLE: We have decided to hire qualified and competent hands to occupy the following positions; Wedding Consultant Admin and HR Manager Business Developer / Marketing and Sales Executive Accountant Customer Care Executive Digital and Social media Marketer Content writer
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Wedding Designer Role: Organizes wedding and other events from start to finish. Responsible for interviewing and hiring vendors, selecting and ordering materials,negotiating rates, coordinating the sequence of wedding events, following up with guests and vendors and producing full-scale events. Plans, designs and produces wedding events while managing all project delivery elements within time limits Liaises with clients to identify their needs and to ensure customer satisfaction Conduct market research, gather information and negotiate contracts prior to closing any deals Propose ideas to improve provided services and wedding event quality Organizes facilities and manages all wedding event’s details such as decor, catering, entertainment, transportation, location, invitee list, special guests, equipment, promotional material etc. Ensures compliance with insurance, legal, health and safety obligations Specify staff requirements and coordinate their activities Cooperate with marketing and PR to promote and publicize wedding event as requested by our client Proactively handle any arising issues and troubleshoot any emerging problems on the wedding event day Conducts pre- and post – wedding event evaluations and report on outcomes Research market, identify wedding event opportunities and generate interest.
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HR Manager: Responsible for overseeing the smooth running of HR and administrative tasks for the organization. Designs job descriptions with KPI to drive performance management for clients. Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products. Ensures operation of equipment by completing preventive maintenance requirements;calling for repairs. Defines job positions for recruitment and managing interviewing process. Carries out staff induction for new team members Responsible for training, evaluation and assessment of employees. Responsible for arranging travel, meetings and appointments. Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations. Oversees the smooth running of the daily office activities.
Identifies, prioritizes, and reaches out to new partners, and business opportunities Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects. Writes winning proposal documents, negotiate fees and rates in line with company policy Responsible for handling business research, market surveys and feasibility studies for clients Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients Develops, executes and evaluates new plans for expanding & increased sales Documents all customer contact and information Represents the company in strategic meetings Helps to increase sales and growth for the company
Content Writer: Create content marketing campaigns to drive leads and subscribers Use SEO best practices to generate traffic to our site Regularly produce various content types, including email, social media posts, blogs. Actively manage and promote our blog, and pitch articles to relevant third-party platforms Edit content produced by other members of the team Analyze content marketing metrics and makes changes as needed Collaborate with other departments to create innovative content ideas
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Marketing Executive
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Client Service Executive: Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries. Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services Manages administrative duties assigned by the manager in an effective and timely manner Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make inquiries Receives parcels / documents for the company Handles inquiries via e-mail and phone calls for the organization Distributes mails in the organization Handles any other duties as assigned by the line manager
Digital Marketer: Develop and manage digital marketing campaigns Manage organization’s website Optimize content for the website and social networking channels such as Facebook, Twitter, Instagram.
72 Track the website traffic flow and provide internal reports regularly Fix any error in online content and arrange webinars and webcasts Attend networking events and product launches. Identify new digital marketing trends and ensure that the brand is in front of the industry developments. Work on SEO of the website pages. Edit and post content, videos, podcasts, and audio content on online sites. Promote company’s product and services in the digital space. Execute social media efforts to improve KPIs, likes, shares, tweets, etc. Creating and executing SMS, and email-based marketing campaigns.
Accountant: Responsible for preparing financial reports, budgets, and financial statements for the organization create reports from the information concerning the financial transactions recorded by the bookkeeper Prepares the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper. Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions. Responsible for financial forecasting and risks analysis. Performs cash management, general ledger accounting, and financial reporting for one or more properties. Responsible for developing and managing financial systems and policies Responsible for administering payrolls Ensures compliance with taxation legislation Handles all financial transactions for the company Serves as internal auditor for the organization
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PROCESS:
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PHYSICAL EVIDENCE: Our physical evidence will be our website and social media presence, which will create a strong brand identity. Business cards Three fold brochures will all the information about out brand. Event Stationary like thankyou notes, seating plans, timelines, budget plans. Staff uniform during the event. Brand Logo.
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UNIQUE SELLING POINTS Our USP is our vast knowledge and experience which enables us to consult for any event and an in house well trained team decor and design to execute the same. To add glamour and dazzle to all your function, we coordinate and therefore provide you with magnificent ambiance supervision and flawless execution. To shape your dreams, we give your wedding a designer’s elegance. Themes can range from traditional Rajasthani to Arabian or trendy Hawaiian to anything you can dare to dream.
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Financial Report Seed Investment: 51,00,000 My father will fund me, with a no interest loan of 51,00,000 (Angel Funding) Jan-June
Fig. 1
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Statement of Profit/Loss
Break - even Analysis
33 Air Conditioners - 2 Split A.C. Lighting - Tube lights, bulbs, wiring, electrician cost Furniture - 6 tables & chairs Security Cameras - 3 Computers - 6*60 Fans - 2 Printer - 1 Advertisement - 50,000 for 1 month (total for 6 months) Radio Station Ads - Jingle ( 400 rs per jingle * 10 seconds * 3 times a day * 30 days = 3,60,000 ) Depreciation - 5,58,500 * 10% = 55,850 annually 55850/12 = 4,654.1 monthly The Revenue for the First month will be: (JAN) Assuming, in the first month, my company organizes two anniversary parties with a budget of 50,000 & 1,00,000. Total sale will be 1,50,000. My firm will charge 20% each as the organizing and consultancy fee. Thus the revenue for the first month will be 30,000 before tax. (Refer to Fig 1) The Revenue for the Second month will be: (FEB) Assuming, in the second month, my company undertakes one wedding project to be held in March. with a budget of 50,00,000. But in the wedding industry, client pays only half of the money in the beginning and rest after the event. Considering the wedding is in March, the client will pay approximately of 25,00,000 in February. My firm will charge 20% each as the organizing and consultancy fee. Thus the revenue for the second month will be 5,00,000 before tax. (Refer to Fig 1) The Revenue for the third month will be: (MARCH) Assuming, in the third month, my company undertakes three wedding projects to be done in April with a budget of 85,00,000, 1 crore and 1.5 crore respectively. Total will be 3 crore 35 lakhs but clients will pay only half the amount, so the total will be 1,67,50,000. And we'll add 25,00,000 from the wedding project undertaken in the first one. So total will be 1,92,50,000. My firm will charge 20% each as the organizing and consultancy fee. Thus the revenue for the third month will be 38,50,000 before tax. (Refer to Fig 1)
43 The Revenue for the fourth month will be: (APRIL) Assuming, in the fourth month, my company undertakes two wedding projects to be done in June since the wedding season is low during these months. With a budget of 2 crore & 1.5 crore respectively. Total will be 3 crore 35 lakhs but clients will pay only half the amount, so the total will be 1,75,00,000. And we'll add 1,67,50,000 from the wedding project undertaken in the first one. So total will be 3,42,50,000. My firm will charge 20% each as the organizing and consultancy fee Thus the revenue for the fourth month will be 68,50,000 before tax. (Refer to Fig 1) The Revenue for the fifth month will be: (MAY) Assuming, in the fifth month, my company undertakes one wedding project to be done in October since the wedding season is low during these months and 3 Anniversary parties to be organised in June only. With a budget of 2 crore for the wedding, 1 lakh, 50,000 and 2,50,000 for the anniversaries respectively. Total for the weddings will be 2 crore but clients will pay only in 4 installments, so the total will be 50 lakhs for the wedding and 4 lakh for the anniversary parties. And we'll add 1,75,00,000 from the wedding project undertaken in the previous month. So total will be 2,29,00,000. My firm will charge 20% each as the organizing and consultancy fee. Thus the revenue for the fourth month will be 45,80,000 before tax. (Refer to Fig 1) The Revenue for the sixth month will be: (JUNE) Assuming, in the sixth month, my company undertakes 4 wedding projects to be done in November, since the wedding season is low during these months and 5 Anniversary parties to be organised in June only. 1st anniversary cost- 50,000 2nd anniversary cost- 2,00,000 3rd anniversary cost - 5,00,000 4th anniversary cost - 6,00,000 5th anniversary cost - 50,000 1st wedding cost - 1.5 crores 2nd wedding cost - 2 crore 3rd wedding cost - 80 lakhs 4th wedding cost - 1 crore With a total cost of 14 lakh for the parties and total cost for the weddings will be 5 crore 30 lakhs but clients will pay only in 5 installments, so the total will be 1 crore, 6 lakhs. And we'll add 50 lakhs from the wedding project undertaken in the previous month. So total will be 1,70,00,000. My firm will charge 20% each as the organizing and consultancy fee. Thus the revenue for the fourth month will be 34,00,000 before tax. (Refer to Fig 1)
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July-December
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Statement of Profit/Loss
Growth of Profit/Loss
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Taxation GST 18% - Every month on total Sales Income Tax (30%) - My estimated Annual profit is 3,13,00.000. Thus, total income tax that is payable, is 93,90,000. Advance Payment of Tax: 15% of payable tax (15th June): 14,08,500 45% of payable tax (15th Sept): 35,91,675 75% of payable tax (15 December): 32,92,369
Feasibility Statement After all the theoretical and practical considerations, getting a complete understanding of all the business environments and their effects on my business growth and a complete market and financial analysis reflects the growth of my brand through graphic representations and financial report of a 1 year plan. My business meets it's break-even point in the third month and starts yielding profits after that. Through carefully analyzing, I will be able to pay back my loan within the first year of my business. I would like to conclude, that Bespoke Wedding Consultants, is a feasible model and will sustain in the market with a better future.