Building your Business (Phoenix Event Company): Keys to Success, Products and Services

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Business Plan
Executive Summary
Phoenix Event Company is an entity developed to meet the needs of the current social world in planning, managing, and running events. Phoenix anticipates contracting several vendors in the market, writing event-plans and products and training several students in event planning. The company will provide an equal opportunity to customers in the planning and management of events, an element that makes the hosting of parties easier and manageable at competitive prices in the market.
Objectives
In order for Phoenix to center on its vision, the company will collaborate with its owners, employees, vendors, and founders in dispensing its vision that will be manifested in three primary ways:
1 Turn out to be the best event planning company in the United States.
2 Justly employ efficient measures directed towards compensating its owners, employee’s and the founders of the company.
3 Maximize its profits in the market through the production and development of quality event products.
Mission
The success of Phoenix is wholly based on its efforts directed towards determining organization’s good choices that would have lasting effects on the functions of the organization. This would be achieved through the inclusion of communication in ensuring that the employees work together towards providing the clients with efficient event planning products that meet its quality threshold at prices that are reasonable (Michel, pp.63).
Additionally, the organization will keep in tune with the ever-changing needs of the market through the inclusion of the latest trends and technology that ensure the clients receive the attention they require. All the functions of the business will be documented to ensure the customers achieve the same results every time, thus forming the basis of the company’s ownership.
Keys to Success
Our organization’s keys to success would include the initiation of a commitment to offer clients quality products and services through the development of events that display the organization’s professionalism as depicted in three areas:
1 Significant profits accrued on the planning of events.
2 Consistency in fulfilling the wishes of the customers.
3 A competitive pricing plan in the offering of its quality services.
Company Ownership & Business Legalities
Phoenix Event Company is developed as a sole proprietorship established with the sole intention of selling the organization to one of the stakeholders who invested in the business upon its profitability. All the functions of the entity will be documented, including the use of the sole proprietors name as a guarantee of the services it offers in the market (Chegg, pp.6). The company will be licensed as a sole proprietorship. This will require the organization to obtain an operational license to validate its legal operations, an occupational license that certifies the organization is authorized to provide event-planning services to the public and lastly a permit that certifies the name of the entity.
In order to enhance the quality of the services the organization offers in the market, the company will ensure that it takes the statutory obligation of protecting the safety and health of the employees and other individuals who may be affected by our organization’s work activities (Chegg, pp.6). This will be in compliance with the Management of Health and Safety Regulations at Work in ensuring that the required safety measures are adhered to effectively.
Products and Services
Although Phoenix Event Company is a service business, the company will offer products that will aid its consumers to plan and manage events effectively. The company’s products will include:
1 Party Packs
2 Corporate Event Planning and Management
3 Birthdays, Anniversaries, Graduations and Holidays
4 Weddings, Showers and Receptions
5 Banquets, Company picnics, and award ceremonies
Environmental Scan
Phoenix Event Company will develop products that meet the needs of different customers who may not afford the high costs related in planning and managing events that are provided by other competitors in the market. The organization will also develop products that suit the needs of the market (Gray, pp.20). Secondly, Phoenix will differentiate its products from those of its competitors, thus ensuring its products and services are immutable. Through this, the Company will consequently gain a competitive advantage in the market. The company will also differentiate its products from those of its competitors by initiating a pricing structure and developing quality products and services in the market.
Determining Phoenix’s Target Market
Market Segmentation:
It is significant that the breakdown of the company’s market in the planning of events takes concern of a wide and diverse approach in grouping, and meeting different organizations and individual preferences as well as demands on the product the company provides (Gray, pp.20). The market segments will be broken down into age groups, public and private organizations.
Private Organizations
The private organizations will make up the company’s largest client base by focusing on corporations, businesses, and political parties who host most of the events that generate large revenues.