Business Plan: Events Venue "SAMACE" (Essay Sample)

Business Plan: Events Venue "SAMACE"
Name:
Institution:
Executive summary
SamAce.com is planning to invest about $4.3 million to launch its state of art website in 2014. An extra amount of roughly $5million will be required to ensure that marketing and advertisements are covered hence increasing the income. SamAce intends to generate a net of $10 million in the first year and $ 18 million in the second year. SamAce core business is to offer services like hosting of events like conferences, parties, weddings and concert.
Mission statement
SamAce.com mission is to provide high-class services to our clients to ensure that their expected are met to their desired level.
Market
Online marketing has been the thing for both corporate and medium sizes businesses. Since we are aiming at holding both corporate social and small-scale events, the target market is quite large. Due to the need of corporate to ensure image of their companies are upheld we are estimating roughly 100, 000 corporate bodies mainly blue chip companies. For medium sized companies we are estimating roughly 1,000, 000 medium sized enterprises. For social personal events we are target people of all ages who would require high class services and we are estimating that the target group of 500,000, 000 consumer since there has been rise in social events being held all through the week.
Revenue streams
The approximate net of SamAce.com is expected to stand at $10 million in the first one year. The income is expected to rise by half in second year, third year and forth as a result of the marketing campaigns to be undertaken. The target market is both from United States of America and worldwide since some companies in other countries take their staff for trips and they will require our facilities.
Competition
Even though SamAce.com provides services that cannot be compared to other firms; however, competition remains a reality. One of competitors is Melrose ballroom a topnotch company in the industry.
Technology plan
In ensuring that the site is in line with dynamic nature of technology use of 7D technology will be applied this will help in ensuring the that the issues showcased brings reality to the desired market. Besides the core business of the site there is a plan to introduce a column that can be leased to companies that may require advertising on SamAce.com.
Schedule
The SamAce.com has a plan of launching a countrywide campaign both in print and broadcast media. The print media will cover magazines, newspapers and billboards. The advertising will be headed by marketing department.
Market size
According to the survey taken recently it has been realized that events that held either corporate or individual always focus on the image the event will create. The age bracket targeted is from 16 years to about 65 years; since, it is at this age that people mainly focus on image created. In the coming years, there is a target market of 3 billion since social media will also be used to popularize the website.
Market Life cycle
Since events holding has continued to attract both corporate, medium sized companies and individual persons the market is growing at a high speed. This has come to be because instead of planning everything all those worries are left to the event organizers. Besides advertising and aggressive marketing use of referrals will play a major role. Further with a page dedicated to the website in social media like facebook the market will continue to rise. In addition to face book, instagram and twitter will also be very instrumental.
Competition
SamAce.com competitive analysis in comparison to Melrose ballroom
detailsSamAce.comMelrose ballroomCorporate eventsYes YesConcertsyesyesValet parkingyesyesVIPs servicesyesyesTime sharenoyesWedding receptionsFrom all corners of the worldMainly for united states citizensSocial eventsheldheldSocial media useyesyesBillboard adverts40 % used in marketing10 % used in marketingTarget marketWorld wideUnited states of AmericaAs seen in the table above there is stiff competition between the two companies. The only thing that brings about the change is differentiation and branding.
The service
Description of the site
The website was created with the main aim of showing what samAce provide for its clients. It offers services like events organizations, for companies that do not have the time to go into the duty of organizing events from scratch up to completion. The website also offers a high-class opportunity for theatrical performances for artist. Live bands also have a place since people have started developing a liking of live performances. Culinary facilities of world-class level are offered and considerably fair prices
SamAce ballroom
SamAce has a ballroom event venue that is designed in such a way that it is equipped with sophisticated audio equipments that brings out music with different effects as may be desired the ballroom is spacious enough to hold more that 1500 people at a ago. The ballroom is served with three fully equipped counters and bar, with waiters and waitress that are highly trained. The lighting of the ballroom is designed in such a way that it can be customized in accordance to the event being held. The ballroom also has a wall-to-wall screen that is designed by Samsung Company. To be able to host live parties, fashion shows and concerts the ballroom has a stage that is fitted with a 30’ x 60’ hydraulic system. The stage is raised so that all the people in the ballroom have a clear view of all that is happening. The website also has page solely for a photo gallery of all the areas it provides service.
Other ideas to be incorporated
There will be a column dedicated for advertisement for other companies of a different industry this will also be a source of income. There will be a link in the site that will enable visitors to welcome friends to view the site. If after the referral the invited friend hosts an event in the facility, the person inviting will be rewarded.
Commercial opportunities
For any corporate body that will use the facilities of SamAce they will receive free advertising in the website. This will go a long way in ensuring that samAce a notch higher than its competitors.
Areas of interest
The main areas of interest will be provision of high-class events holding ability ranging from weddings, concerts, fashion shows, parties and the likes.
Added value
In the site if a person has ever booked for an event he or she will be entitled to a discount if booking online.
Revenue streams
As earlier discussed SamAce.com is expects a net of $10 million in the first one year of operation. With aggressive and extensive advertising and marketing income is expected to rise by half in second year, third year and forth year.
Income will be generated from all sectors starting with the advertisement column. The advertisement column will be one of the major areas that are meant to generate income as a result of the traffic in the site. The column will be divided into four rows, the upper bigger area and the other minor regions. Meaning at any given time there will be four advertisements running. The revenue generated in the advertise column is expected to be quarter of the total revenue. There will also be an upcoming events icon; for people to place their event in the icon they pay at hourly rate. Incase clients require video coverage for their events using the facilities of SamAce they will have to part with some cash. Coverage of weddings events comes at a premium price as a result of the equipments that will be used. In case of concerts where people pay for entry charges the company will receive additional income on top of the amounts paid to host the event. To maximize on the facilities small parties will be held in the ballroom, which will be partitioned with temporary barriers meaning that there can be up to 10 events at the same venue.
Technology plan
On the onset when one opens the website he or she will first be great with photos of the elegant ballroom with photos that change after every 15 seconds and by being in the website for like a minute one will be able t...