MARRY ME The wedding planners

We make your wedding as the most memorable moment of your life

Submitted to: Ravinder sir

Submitted by: Birbal mahato Tanuj Mohd Parvez Kavish kumar Arpit Bajaj

Business idea:
Once upon a time on a perfect summer day, guests in colorful wedding finery filled an old cathedral. The fragrance of dew-kissed blossoms wafted through the air as soft organ music played. A radiant bride walked up the aisle at the arm of her father to meet the handsome groom waiting at the Fairy tales like this do come true. Now more than ever, wedding consultants are making them happen. In the last decade, the need for professional wedding consultants has grown exponentially. Today, women are often simply too busy juggling the demands of their professional and personal lives to oversee the details necessary to create the wedding of their dreams.With more than two million weddings occurring each year, the wedding planning industry is certainly one with a continuous customer demand. Marry me organize all of the wedding necessities and requests of the couple so that the bride and groom can focus on their special moment

Vision:

Service our clients' needs promptly and efficiently. Maintain an excellent working relationship with vendors such as florists, hair salons and bridal shops. Maintain a professional image at all times.

Mission:

Marry Me is a full service company that provides completes services for weddings and anniversaries.

Marry Me is unique in that we give our clients our undivided attention. We listen to their needs and work with them to create the event of their dreams

Business evaluation:
MARKET SEGMENTATION

Income wise :

Pearl :- Above 50 lakhs Platinum :- 30-50 lakhs Gold :- 15-30 lakhs Silver :- below 15 lakhs

Life style wise :

Classic style:- Middle class families Royal style:- Upper middle class families Maharaja Style:- High profile families

Business model:
Operational Process:-

We have decentralized operational process. Unique online scheduling system for vendors. Organizational Structure:

Art & Decorators Caterers Entertainment Sound & Technical Teams Suppliers

Marketing Channels: Print & Outdoor Media Visual Promotion Online Promotion Word of Mouth

Market Size and scope: Indian wedding are swiftly turning into a mega billion rupee industry. The Indian wedding market, which is currently estimated at Rs 50,000 crore, is all set to grow by 25 percent annually. USP (Unique selling point):
Provide a Happy wedding package for the first night for couple in a 5-star hotel.

We also provide unique honeymoon package of one week with 20% discount for GOLD and SILVER.

Industry analysis:
Indian Wedding Industry:- Overall 1,25,000 crore By Rediff.com BARGAINING POWER OF SUPPLIERS Vs BARGAINING POWER OF CUSTOMERS

SWOT Analysis:
Strengths:-

Low Profile Industry Easy to be Global

Weakness :-

Belief of People No market information

Opportunities:-

Scope for growth Opportunity to extend services online.

Threats:-

Tour Operators Hard to get quality staff.

Management team:
Art & Decoration: Caterers and Suppliers Entertainment Sound & Technical Teams Ceremony Location and Finance

Marketing plan Of Marry me: Executive Summary: Maintain a healthy customer relationship.

Brand Promotion through a special gift named Remembrance. Take care of all minute requirements. Every time come with a new and attractive theme. Proper Budget always keeps in mind.

Situation analysis:
Competitors Analysis: Reet- The Wedding Planners : 20% of market share. Undertake outstation projects also Provides packages but do not conclude middle-lower class families. More focus on the small individual parties.

Royal Embellish Planners : 12% of market share. Have less wedding themes idea. Only 2 Caterers in contact

Crishma Wedding Planners : Inexperienced planning team New in the market. Keep focus on other traditional ceremonies such as Greh Pravesh, Mundan, and Jagran.)

Category Analysis:
Market trends:-

Current and future size of market

Overall category penetration and usage of services. Environmental factor Seasonal Inflation

Market needs:-

Competitive pricing Customer needs

Customer Analysis:

Population of Jalandhar and Phagwara are our main customers. According to Income and Purchasing power of customer may differ in these regions. Best commitment and innovative ideas attract customers. Religion may not be a issue for us.

Planning Assumptions: Indian wedding are swiftly turning into a mega billion rupee industry. The Indian wedding market, which is currently estimated at Rs 50,000 crore. It is all set to grow by 25 percent annually so the industry has a high rate of projection to

Objective:

Our services will exceed the expectations of our customers. To capture 30% market share in next 2 years. Provide an awesome environment of wedding with different new ideas.

Product and Brand Strategy:

Advertising in the Yellow pages - Two inch by three inch ads describing the services will be placed in the local Yellow Pages. Placing advertisements in the local press, including Jalandhar Times, Punjab Kesri.

Developing affiliate relationships with other service providers (florists, hair stylists, caterers) that would receive a percentage of sales to the referred customers. Word of mouth referrals - generating sales and brand awareness leads in the local community through customer referrals.

Marketing Mix: Pricing- The pricing scheme will be based on a per wedding estimate tailored to each customer. Place- Services can be performed throughout the Posh Urban area and Semi-Urban Area determined by the needs of the customer.

Advertising and Promotion By Banners and Holdings Newspaper articles Mouth to mouth promotion. Radio Channels

Customer Service- The company goes about the day-to-day operations with
the belief that 100% customer satisfaction is required in order to make the business a success. Financial Documents: Break-even analysis:

Monthly revenue break even is $4,808.

Expenses:Art and Decorators- Rs.50,000- 5 lacs Caterers- Food Charges according to plate: Rs.300- Rs. 900 per plate Entertainment- Rs. 30,000- 2 lacs Sound and Technical teams- Rs. 40,000- 4 lacs Venue- Rs.50,000- 4 lacs

Sales Forecast:-

Monitoring and Control: Sales Information:- Regular monitoring of trend and update with latest designs and themes for increase in sales. Market share:- Regular monitoring of target market and competitors actions to achieve the market share.

Controlling:-

By feedback By focus group By survey

Contingency Plan:
Contact with several distributor and suppliers in the case of emergency. If current plan is not fluently working, arrange a rock show to engage people. Present the gifts to parties to hide our small mistakes.

OPERATIONAL AND HR PLAN OF MARRY ME:

Operational plan:
1. PURCHASING PROCESS SUPPLIERS:-

Art and decorators:

Trendz Interiors (Jawahar Nagar)- for furniture decorator Flower Point (Model Town)- for flower decoration Karvan Decorators (Nehru Garden Road)- for lighting decorations

Caterers and Raw material suppliers:a) Fancy Tent House (Model house)- for Tent and Mandaps, Shamiyanas b) Jai Son Departmental Store (Model Town)- for provisional and raw food items c) Cook n Chef (Jawahar Nagar)- for chefs and

Entertainment: Desi Beat Entertainers (Model Town) :- for Sound systems and Dj

Wedding Invitation Cards:-

JD Cards (Railway Road) :- for wedding invitation cards

Beauty And Make Up: Matrix & Sylvies salon (Model Town) :- for hair style and make up Photography & Videography:East West Photography (Model town)

Transportation:Travel Traveller (Jawahar nagar):-For rental cars services)

Hotel & Residential Facilities:Hotel Sekhon Grand Hotel Leo fort

Vivah Shopping (Garments & jewellary): Recent And Decent (At Model Town) -Garments Shop Tanishq (Model Town) for wedding ornaments

Wedding Gifts : E.k. Onkar Novalities(at wadala chowk) Homeshop18.com(online Shopping) Security Service:Armour securities pvt.ltd. (Model Town) :- for security gards.

Cleaning Services: B.M cleaning services (Nakodar Chowk) :- for cleaning staffs.

Purchasing situations:a) The communications and agreements with all service providers are made before 1 month of marriage. b) The place and venue is booked before 1 month of wedding. c) All food and provisional items are purchased 2 days before the ceremony.

Receiving goods and buying consideration:-

Receiving goods and services from the service providers and shopkeepers one day before and the day of the wedding.. Buying consideration with the every provider on the present rate and market rate. If we buying in bulk then we demand for concessions and discounts for our profit.

2. INVENTORY:

We are just the best service provider with the best and different vendors. We believe in hiring and rental products and believe in contracts.

Cash Outflows:We manage our cash outflow with Credit method: We just pay 20%-30% advances at the beginning of the wedding and rest at the end of the wedding to all the dealers and providers.

3. CASH MANAGEMENT: Cash inflows: We will receive our payment by party mostly at the end of the wedding. We just ask the budget and then we start the planning over it. But we need some advances from party also. We will demand 30%-40% money at the start of wedding.

e.g. Art and Decorators- Rs. 50,000- Rs. 5 lakhs we give Rs.15,000- Rs. 1,00,000 as advance Sometimes we credit this money from the Bank and different money lenders. 4.MANAGING DURING DISASTER 1. Security service:- 6 security guards appointed to monitor any mishappening and conflicts during the function. 2. Medical Emergencies:- Contact with a private ambulance in the case of emergency. 3. Fire Brigade:- Contact with a fire brigade person in the case of fire and electric short 4. Rain and Thunderstorms:- at the start of the construction of mandaps and tents, we will provide waterproof shades.

If the marriage is taking place at the resort, we will set up basic infrastructure like mandaps, catering inside the resort in case of emergency.

5. SEASONAL BUSINESS: o Arrangements of ANNIVERSARIES and KITTY Parties. o Arranging Corporate Meetings and social functions. o Arranging Tour and Travels packages in Summer.
HR PLAN OUR TEAM DecorationCaterers and SuppliersFinancialSound and TechnicalTotal3 Members 4 Members 3 Members 2 Members 12 Members

Job Specification:For Decorating Team Good knowledge of interior decoration Creative mind Experience for Organizing events

For Catering Team Good knowledge of supply chain management Experience in any catering business

For Financial Team: Good knowledge of Book of Accounts. Work experience in any finance company.

For Sound and Technical Team: Good knowledge of technical and electrical works. Work experience in any technical and electrical field.

JOB DESCRIPTION:For Decoration: Making the blue print of sets and creative theme. Creative decoration with flowers, lighting, and art work. Salary- Rs. 3,500- Rs.6,000 per wedding

For Catering: Arrangements of food stalls and manage the inventory. Monitoring the quality and quantity of food. Salary- Rs. 3,500- Rs. 5,000 per weddin

For Finance: Managing the cash outflows and supervise book of accounts. Salary- Rs. 6,000- Rs. 10,000 per wedding.

For Sound and technical: Set up of lightning system and sound systems. Managing all the electrical works. Salary- Rs. 3,000- Rs. 4,500 per wedding

Hunting for suitable candidates:

Advertisement on Newspaper and yellow pages for candidates. Option of Walk-in-Interview. Recruiting from Event and Management Institutions. Visiting specialized departments like Hotels for catering.

Induction: Induction of employees by meetings with top level management, small presentations and videos of the previous weddings. Introducing them to work culture, style, ethics and relationship with guests.

Motivating Employees:

Monitory Policy:-

Provide incentives for excellence in work. Rewarding for Best employee of the year.

Non-Monitory Policy: Provide free tour in off seasons for best employee. Provide gifts for better performance.

Training: Training through Previous marriage videos. Provide workshop of 2 days by a skilled and experienced trainer for decorations, lightning and technical. Special interaction sessions for personality development, behavior, skilled work and maintain CRM.

Termination of Employees: Improper behavior with Guests. Irresponsible and unpunctual. Ethical Issues. Indiscipline manner with other staffs

MARRY ME
The Wedding Planners We make your wedding as the most memorable moment of your life

With more than two millions wedding occurring each year the wedding planning industry is certainly one with a continuous demand. MARRY ME organizes all of the wedding necessities and requests of the couple so that the groom can focus on their special moment.

UNDERLYING ASSUMPTIONS
Marry Me will have an annual revenue growth rate of 16% per year. We will acquire Rs. 3,50,000 of debt funds to develop the business. The loan will have a 10 year term with a 9% interest rate

SENSITIVITY ANALYSIS
The businesss revenues are somewhat sensitive to the overall condition of the economic markets. In the event of a steep economic decline, Management expects that its revenue will decrease as people host weddings at alternative, less expensive venues. In the event of a decline in revenues, the business will be able to maintain profitability because the business generates significantly high gross margins

NET SALES

Pearl=00 ( ABOVE 30 Lakhs) Platinum=02 (15-30 Lakhs) Gold=03 (10-15 Lakhs) Silver= 02 (Below 10 Lakhs)

INCOME STATEMENT Net Sales Revenue less: Purchases Art & Decorators Caterers Suppliers 93,00,000 9,30,000 13,00,000 12,50,000

Venue Sound and Tech. Sets Cost of Goods Sold

7,50,000 1,80,000 1,50,000 45,60,000 47,40,000

Gross Profit Operating Expenses: Advertisement 1,50,000 Office rent 1,80,000 Repair & maintenance 40,000 Salaries 4,80,000 Travel & Vehicle 1,20,000 Office Equipment 1,00,000 Total Operating Expenses General Expenses: Electricity Telephone Other expenses Miscellaneous exp. 12,000 24,000 20,000 25,000 81,000 Net Profit

11,20,000

13,01,000 21,19,000

BALANCE SHEET

Liablities Owner Equity Loan O/S salaries Accounts Payable 2,00,000 3,50,000 50,000 1,00,000

Assets Cash Debtors Furniture & Equipment Dep. On Furniture @10% Sets Dep. On Sets @ 10% Total 2,50,000 1,75,000 1,00,000 10,000

1,50,000 15,000 7,00,000

Total

7,00,000

CASH FLOW STATEMENT Sources of Funds: Owner Investment Loan From Bank Utilization of Funds: Equipment & Fixtures Sets Salaries Other Expenses Total 2,00,000 3,50,000 5,50,000 1,00,000 1,50,000 2,80,000 20,000 5,50,000

RATIO ANALYSIS
1.

CURRENT RATIO:-

A liquidity ratio that measures a company's ability to pay short-term obligations. Current Ratio = Current Assets Current Liabilities = 3,75,000/1,50,000 = 2.3:1 2. QUICK RATIO:The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. Quick ratio = current asset- inventories current liabilities = 3,75,000 0 1,50,000 = 2.3:1 3. DEBT RATIO:-

A ratio that indicates what proportion of debt a company has relative to its assets Debt ratio = Total Debt Total Assets = 5,00,000 7,00,000 = 0.71
4. DEBT TO NET WORTH RATIO:-

Relationship between the capital contribution from creditor and those from owner Debt To Net Worth Ratio = Total liabilities Net Worth = 3,50,000 7,00,000

= 0.5:1

5. AVERAGE INVENTORY TURNOVER RATIO:-

A ratio showing how many times a company's inventory is sold and replaced over a period AIR Ratio = Cost of Good sold/ Average Inventory Since we have no inventory so Average inventory turnover ration is Nil. 6. AVERAGE COLLECRION PERIOD:The average collection period ratio represents the average number of days for which a firm has to wait before its debtors are converted into cash. ACP Ratio = (Trade Debtors No. of Working Days) Net Credit Sales = 1,75,000 x 360 1,48,000 = 40 days
7. NET SALES TO TOTAL ASSET RATIO:-

Its generally measure of its ability to generate sells in the relation to its assets. Net Sales to Total Asset ratio = Net Sales Total Asset = 93,00,000 7,00,000 = 13.2
8. NET PROFIT ON SALES RATIO:-

Net profit ratio is the ratio of net profit (after taxes) to net sales. It is expressed as percentage Net Profit on Sales Ratio = Net Profit Net Sales = 21,19,000 93,00,000 = 22% Conclusion:- Projected cash flow , income statement and projected balance sheet define a gross profit of Rs. 21,19,000 in one financial year. The Ratio analysis concludes the some satisfied ration for the projected profit.