Bella Fleur Wedding Reception Venue Analysis Marketing Essay

Bella Fleur Wedding reaction Venue synopsis Marketing Essay administrator SUMMARY logical argument enterprise description and proprietorship Bella Fleur is a conjoin reply venue specializing in classy and entertain spousalss for both cultures and ages ( intelligently of course). I bequeath be the owner of this craft, and as a sole trader I am leave behinding to try hard to assess every told aspects of a crinkle in this crease jut out in cast to cancel involuntary cessation. I mystify chosen this legal structure for my blood because the decision making aspect bothow be easier and too scrap between owners of a business that arises during decision making is avoided. As the business grows, if essential I go give away be sufficient-bodied to change the legal structure to or sothing more fit for the situation.There result be a pagan Lebanese aspect to the venue which depart add the entertaining purposes of the get hitched withs. This culture has been hel d as an inspiration and get out evolve in the contrary work offered by the venue such as nourishments, entertainment and some meters decorations. Bella Fleur provide offer many options/preferences as puff up as service and facilities to the guest. Bella Fleur does not only offer serve during the receipt, nevertheless likewise pencil lead up to the wedding. Qualified stave members be useable full time to make any couples WHOLE dream day a domain rather than the dream party alone.The wedding reaction venue give be located on the main path of one of Sydneys eastern Suburbs, Double Bay. The address of this business is 64 Bay Road, Double Bay. I have chosen a visible location and so the onward motion of the venue will be quite an easy task. Bella Fleur is part of the go sector of businesses in Australia as the prime function is to organize and horde a wedding for any phase of nodeele. The run set asided by the wedding reception venue include wedding planners, wai ters, entertainment, MCs, Bella Fleur catering, bartenders, cars and all things that are needed to attend the bride and tog have the perfect day.Purpose of Plan-The purpose of this business plan is to help Bella Fleur Wedding Reception Venue to prevent failure. some goals will be put in place in order to give the business a main path to follow and things that will be needed to achieve. Some of the goals laid by the business owner (Maya Geagea) includeThe social goals Ensuring that all members of the community are offered with a transformation of options in order to create the perfect functionOffering a diverse straddle of services to community membersThe financial goals Expanding the business over a certain timeframeEnsuring that all debt finances are of minimal positionGaining a sufficient profitThe personal goals Being successfulCreating reasoned consumer cognizanceGaining sufficient profits and minimal debtsSituational Analysis StrengthsExcellent natureGood contact bas eExcellent management skillsExcellent theatrical role servicesExtensive knowledge of the industry sector higher(prenominal)ly serve staff baseWeaknessesLack of consumer sensationEntrepreneurshipMinimal startup uppercaseSize of venueOpportunitiesExtra services will become availableGrowing economyExpanding locations adversarys suffering financial problems and looking to sell their businessThreatsCompetitorsDecreasing economyIncreased inflationIncreasing service pricesBusiness Objectives and Strategies ObjectivesStrategiesProvide the Bride and Groom with everything they need to make their day perfect originate a professional, qualified staff base witness all services available are provided correctlyEnsure that entertainment is always changing. start out a loyal clientele baseWork closely with all clientsEnsure that the bride and school and all the guests are all satisfiedBe consistent with all clients and ensure that all treatment is fair work extra services to the businessResear ch extra services that a venue can provide (2 calendar months)Develop the juvenile services (4 months) bring forth new services tested and running at full electrical condenser (5 months)Quality RatingComplete a survey of how good the business and staff has operated with clients (3 months)Improve and use these surveys as critical analysis and new objectives (3 months)OPERATIONS Operations Description of goods and services All production facilities for the services offered by Bella Fleur will be located at the same point of Bella Fleur.Bella Fleur not only offers a venue for a wedding reception to be held at but also offers planning services to the Bride and Groom. These include services such asEntertainment This includes DJs, bands, dancers, and all characters of entertainers to ensure that the bride/groom as well as the guests experience a memorable and pleasant night.Decorators Professional decorative designers who will decorate not only the reception, but also the ceremony location in order to create a coherent environment. They will be in charge of the postpone cloths, prexy covers, foyer decorations, centre pieces, chair sashes, bridal table design, backdrop, fire kit and boodle and anything else selected by the bride and groom.Chefs Chefs will ensure that the Bride Groom are provided with their dream wedding banquet and all guests appetites are fulfilled. They will also be in charge of preparing the nutrition for the bridal partys picnic firearm taking photos after the ceremony.Waiters the waiters mustiness ensure that all tables are adequately taken safeguard of and guests receive all they ask for. The head waiters will attend to the bridal partys postulate regarding food and drinks on the night.Drivers Cars The Bride and Groom will have a wide filling of cars in order for them to be able to choose their preferred window pane on the big(a) day. This will include cars for the bridal party and also a getaway car for the bride and gr oom. A picnic lunch is also available with any car selection provided by the kitchen at Bella Fleur. The bride and groom may choose to speak personally to the car company or have the confrontations done by the venue.MCs the bride and groom will have a choice of one or both MCs on the night, which will be chosen from a list of five entertaining public speakers.Flowers The bride will be able to choose from a wide range of flowers and arrangements of all sorts including her own and the bridesmaids bouquets. at one time these flowers are chosen, automatically, boutonniere and corsages will be chosen to run across the brides choice.Invitations A variety of invitation samples will be shown to the bride and groom and they will be able to choose their favorite invitation base, and alter any decorations on the invitation.**It is facultative for the bride and groom to choose to work with a wedding planner.** The Above services are available at the request of the bride and groom.Personn el Requirements and skills Waiters 10 waiters will be employed overall. Depending on the size of the function, the issue forth of waiters asked to work will modify. No qualifications will be needed from the waiters however it is preferable that they have worked in some sort of restaurant before. During induction, waiters will be taught the comely way of setting out wedding arrangements for the tables.Wedding Planners Two wedding planners will be employed. The wedding planners must be qualified in the areas of events management. The wedding planner is pass judgment to have completed the events management course. They are required to speak fluent English and also a endorsement language is highly preferred. Wedding planners should be able to communicate with clients distinctly and be able not only to fulfill all the clients needs and wants at the venue, but also everything they need leading up to the big day. They will be asked to try to relate to the bride and groom and find th e suitable options for the Bride and Groom.Kitchen Staff Three chefs and three kitchen staff will be employed. The chef is expected to fulfill all requirements on the basis of food, and also should be able to alternate and always help create an innovative menu. The three kitchen staff will be employed as the chefs assistants, they will carry out jobs such as washing the dishes, cleaning the kitchen, providing the chef with all ingredients etc.Receptionist The receptionist must be able to deal with all kinds of multitude and communicate clearly over the phone as well as face to face. It is preferred that the receptionist be a woman, and also be able to take care of all book keeping requirements.MARKETING Marketing Market Analysis Bella Fleur Wedding Reception will begin as a keen business, targeted primarily at people looking for a versatile wedding and a variety of options. The target commercialise for this business will range from clients looking for someplace to have their wedding reception to clients looking for somewhere where they can hold a christening. Marriages around Australia are of high occurrence, and then the target market for Bella Fleur will be diverse and ever growing. The table below shows the number of marriages over time from 1988 2007. center marriages 1998-2007Graph kernel marriages-1998-2007Bella Fleur wedding reception has a main goal of market expansion. everyplace the time frame of ten years, this business will hope to blow up and become a franchise. In order to do so, guest awareness will need to be gained and further focused on.Bella Fleur will in the first place focus on promotion and customer awareness in the month of March. As statistics show, weddings in Australia were found in 2007 that March was the most common month. This is show in the table below found on http//www.abs.gov.au/ausstats/emailprotected/mf/3306.0.55.001Months of marriage 2007Graph Months of marriage-2007Competitor Analysis Within wedding recepti on industry in Sydney, the competitive environment is quite intense and the number of competitors is fairly large. This means that while Bella Fleur will be entering the market place, there may be many competitive advantages as well as disadvantages. Existing competitors leaving the industry could be an advantage while entrepreneurs clear-cuting up businesses in this industry could be a disadvantage. For this business, 2 main competitors have been chosen and analyzed. They are shown below.Competitor InformationStrengths of CompetitorWeaknesses of CompetitorBella Fleur StrategiesTHE VAUDEVILLE FUNCTION LOUNGE176 The River Road, Revesby NSW 2212Specializes in all functionsprestigeExcellent promotion and customer awareness braggart(a) Space galore(postnominal) years experienceNo heathenish aspectDoesnt offer as many services as Bella FleurHigh pricingBella Fleur holds a cultural aspect and offers all kinds of services manageable for an event. The budget is flexible and works with t he clients budget. Bella Fleur is dedicated to gain customer awareness by promotion skills and in time will also fly high the business.DOLTONE HOUSE FUNCTION nitty-gritty223 Belgrave Esplanade, Sylvania Waters, NSW 2224Excellent ViewPrestigeCustomer AwarenessFranchiseLarge BusinessLarge spacesMany years experienceNo cultural aspectFocuses mainly on the reception rather than the planningHigh pricingBella Fleur holds a cultural aspect and offers all kinds of services possible for an event. The budget is flexible and works with the clients budget. Bella Fleur is dedicated to gain customer awareness by promotion skills and in time will also expand the business.Product Analysis The main function of Bella Fleur will be to provide clients with all specific and scurvy components of a wedding and all different functions. This may be the main function, however this function will vary from client to client as it is a service that is offered rather than a good and clientele diversity is a gi ven in this type of industry. The budget of the wedding reception will depend of the clients budget. For example, if a client is will to spend only a small amount of specie on the wedding, different options will be given to this client than the client who is willing to spend millions of dollars. Changes at these times will occur mainly in menu, which room the function will be held in, how many people will be at the wedding and all different small details. At Bella Fleur, concentration will be placed on customer comfort as well as happiness, the customer must be happy with the services we have to offer before they will open up to the staff and ensure that trust is placed in us.A product analysis is not entirely necessary when planning this kind of business as it offers services rather than goods.Price Analysis At Bella Fleur, prices will depend upon the budget of the client rather than the budget of the reception venue. Many different offers and deals will be given to clients ensuri ng they are able to choose and adapt the services and products in order to create a dream wedding while working around their own budget.Once a client has chosen the deal which they would like to go fore with, it is the responsibility of the reception venue to then purchase appropriate goods and plan appropriate methods to ensure that a profit will be make rather than a loss.Prices will vary depending onThe menuThe position planThe number of peopleThe services chosenDecorationsChanges made to the entrance hallPromotion Analysis As any business, when Bella Fleur wedding reception venue first opens up, the main short term goal will be to gain high customer awareness. This goal will become gigantic term while the business grows. The location of this business assists in development its promotion and prestige. The business will be advertised in newspapers, wedding magazines, on street signs and billboards. However, this will not be accomplished with the sure startup capital of the b usiness. Direct Marketing, Sales promotion and Publicity will all be used in order to promote the business. repose Analysis Bella Fleur wedding reception is located on the main road of one of Sydneys higher class suburbs. The location of this business is of prime vastness especially for its promotion. The venue is overlooking a lake and a beautiful indispensable environment. This gives Bella Fleur a competitive advantage over its competitors who are often placed in areas where no view is available.FINANCE Finances Financial Forecasts taxation Statement Revenue Statement for Bella Fleur Wedding Reception VenueFor the power point ending 31st August 2012$$SALES RE locale1 450 000COGS go-ahead Stock viosterol 000Purchases200 000700 000Closing Stock100 000 tot600 000GROSS PROFIT850 000EXPENSESAdvertising5 000Insurance2 000 disport to bank20 000Decoration Expenses30 000mortgage4 050Salaries and reward200 000Telephone4 000Kitchen Stock80 000Total345 050 engagement PROFIT (before tax)5 04 950Balance Sheet Balance Sheet for Bella Fleur Wedding Reception As at 30 August 2011 incumbent ASSETS $$Cash in bank viosterol 000Account Receivable 420 000Stock (ingredients)100 000Total flow Assets1 020 000NON CURRENT ASSETS Equipment2 450 000Land700 000Building Properties500 000Total Non Current Assets3 650 000OTHER/INTANGIBLE ASSETSGood will (intangible)300 000Total Other Assets300 000Total Assets 4 970 000CURRENT LIABILITIESBank Overdraft600 000Accounts Payable200 000Total Current Liabilities800 000NON CURRENT LIABILITIESMortgage3 516 000Total Non Current Liabilities3 516 000OWNERS EQUITYCapital500 000Retained Profits154 000Total Equity654 000Total Liabilities4 970 0001.28LIQUIDITYCurrent Assets 1 020 000Current Liabilities 800 000CRITICAL REVIEWCritical Review As a student, I think that Ive completed this denomination quite well according to the plan of approach. I followed all my deadlines and completed things before the collect date. My saying of what a business pl an had to be like expand during the course of this assignment as I researched and questioned different aspects of the assignment.I struggled with some sections of the assignment which had not been explained clearly during class time, and I struggled to understand the conception just by looking at profits sites and in the text book. This weakness can be seen in the effort put into the sections. The two sections which I struggled most in were marketing and finances. I found it effortful to understand the set up and what we had to include in these sections and this was shown in the overlook of quality in these sections.I feel that I did quite well in this assignment regarding the circumstances that were put to us. I am flag that I met deadlines, however next time, I will try to understand all content before beginning an assignment.Overall, my progress throughout this assignment was satisfactory and I was happy with the fact that I was able to discipline myself things and understa nd concepts which are found to be difficult just by reading over a text book or internet site. However, the quality of the two sections is a downfall for the assignment.My goals for this assignment wereMeet the deadlinesEnsure all the work was understoodComplete the assignment to the best of my readinessI feel that these goals were fulfilled and am proud of this accomplishment.PLAN OF accessPROGRESS AND RESEARCHBUSINESS PLANBELLA FLEURWEDDING RECEPTION VENUE22736094YEAR 11Bibliography Le Montage http//www.lemontage.com.au/index.cfm?html=trueNielsen parkland Venues http//www.receptionsearch.com.au/venues/NSW/Eastern%20Suburbs/Nielsen%20Park%20Venues/The%20White%20PavilionTerrey Hills Golf Club http//www.terreyhillsgolf.com.au/guests/guests.mhtmlDockside Groups http//www.docksidegroup.com.au/