Extravaganza is a full service company that provides complete party planning services for weddings, bridal shower, baby showers, Sweet 16 and anniversaries. Our staff is experienced and dedicated professionals with many years of party planning experience. Extravaganza listens to the customers’ needs and works with them to create the event of their dreams. We want every detail of their event to be both a pleasurable and a memorable experience. Therefore we offer a host of packages and services specifically tailored to the needs of each person. Our goal is to satisfy ever customer’s needs and let them realize that there can be a stress-free & affordable way to plan a party.
2. The Business Summary
Extravaganza is a small business specifically aimed at the working class “blue collar” world. It is going to be home-based in Jersey City, NJ and with plans to branch off to other areas in New Jersey in the future. Extravaganza is a “first class” party planning company with “coach” type affordability. We will specialize in weddings, baby showers, Sweet Sixteen, Quinceneras (Sweet 15), bridal showers, and reunions. The reason why I decided to start up this type of business is because Jersey City is rapidly growing. From my experience people in this area do not particularly care too much about using a party planner because of the cost. They would rather spend less and stress more. Extravaganza will show them that at a reasonable cost they can have the party they always wanted. Extravaganza will be offering lower prices and flexibility compared to others. Our staff will be multi-cultural and will be able to cater to everyone’s needs no matter what your nationality might be. We will build a relationship with party supply stores, catering services and other small businesses in the area. We will be able to take on those last minute events that other party planners need more time to handle effectively. In order to get this home-based company started we require funding for the following: ·Employees
Extravaganza’s management team will start off small. The management team will be required to have either a degree in business management or past experience in the industry of event planning. The team will consists of an office manager, sales representative, financial manager and office staff. The office manager will make sure everything is running smoothly. He will be the one to handle the scheduling of the events, to find locations to hold those events, to hire the caterers, decorators and disc jockeys. The office manager will also handle advertising. The sales person will go and meet with potential clients to secure the business. The financial manager will keep track of cash flow, make sure expenses are being paid and handle all of the company’s finances. The office staff will support the other mangers with daily functions required. As the company grows we will be able to hire people who are willing to contribute to our future success. Industry Analysis
The event planning industry continues to grow rapidly. Large companies have many occasions for using party planners; from throwing a big party for their employees during the holidays or throwing an event to get new customers or to show appreciations to the ones they already have. Party planners are also used by politiciansfor fundraisers or for celebrations of their winning elections. Even the average person uses a party planner to help in planning weddings or other personal events in their lives. Party planning is definitely a growing industry.
Extravaganza’s target markets are middle class families, couples or individuals. The reason we want to target this group is because these are the people that are busy working, taking care of their families and other responsibilities and they do not have the time required to plan and event effectively. This is where we...