BUSINESS DEVELOPMENT PLAN

Submitted By:

Susmita Shrestha

Sailina Shrestha

Emmaja Rai

Bikash Patel

Pranish Pradhan

Submitted To:

Niranjan Shrestha

ACE INSTITUTE OF MANAGEMENT

March 17, 2020

 Acknowledgement:

We would like to express our sincere gratitude to all those who gave us the guidance and support to
complete this Business Development Plan. A special gratitude we give to our subject teacher
Mr. “Niranjan Shrestha” whose contribution in stimulating suggestions and encouragement, especially in
writing this Business Development Plan. Special thanks go to my thank colleagues in completing this
report and helped me out with their abilities and finally I would like to thank Ace Institute of Management
whose direct and indirect support was considered most in submitting this plan.
 Executive summary

Wedding wonders is a standard and professional wedding planning company that will be based in
Kathmandu, Nepal. We will be able to secure a standard and well positioned office facility in a business
district in the heart of the city. We concentrate on wedding management for those who want hassle free
and cost effective wedding. Wedding Wonders believes that many couple who are planning to get married
has their own dream of wedding to mark it the most memorable event in the life. We also see middle class
couples or families are ready to spend on their wedding to make it more socially recognizable. We commit
to deliver social values and to make personal dream come true.

Wedding wonders wedding planner is a client focused and result driven wedding planner company that
provides broad based services at an affordable fee that won’t in any way put a hoe in the pocket of our
clients. We will offer a standard wedding planner services to all our clients at local, state, national and in
future international level too. We will ensure that we work hard to meet and surpass our client’s
expectation whenever they contact their wedding planning to us. We learn and preserve what our client’s
value the most and accordingly we establish a strong relationship with them. Our client’s best interest
would always come first, and everything we do is guided by our values and professional ethics. We will
ensure that we hire professionals who are well experienced in the wedding planners industry. We will
handle all aspect of wedding such as wedding coordination, wedding shower Bachelor’s eve, manage
client’s time constraints, manage client’s budget, day of coordination services, conceptualization and
design, full coordination services and month of direction. We are aware that to run a standard wedding
planner company can be demanding which is why we are well trained, and equipped to perform excellently
well.

We use social media platform for brand introduction and promotion. Since we are service provider our
marketing plan will be customer centric. We feel our client’s dreams and convert it on events. We offer
complimentary service for our members on their family events besides wedding. Our marketing strategy
concentrates on customer life time value (CLTV) and will develop the relationship accordingly. Our plan
is to position the business to become leading brand in the professional wedding planner’s line of business
in the whole Kathmandu, and also to be amongst the top professional wedding planner companies in the
Nepal within the first 10 years of launching the business.
 Business Highlights

1. Name of the business: Wedding Wonders Pvt.Ltd

2. Nature of the business: Wedding planners

3. Legal status of the business: Registration as per the government

4. Address of the office: Baneshwor, Kathmandu

5. Contact:
Contact name: Aabha Shrestha
Tel .No: 014221650, 9843341307
Email: [email protected]

6. Major product service: Silver, Gold and Platinum packages and also customize as per
their wish.

7. Target customers: The targeted customers of the business are couples who are getting
married, bachelors, about to get married, family members or relatives of bride and groom.

8. Major market: our major market would be at Baneshwor, which will cover the market
area of Kathmandu city.

9. Working schedule: Working schedules of our company would be from 10:00 to 8:00 pm.
On an urgent basis we shall provide additional service to the customer if they order.
Everyone will work fulltime for the company.
10. Human resource: 6 employees

11. Total investment: The wedding company shall be initiated through injecting of NPR
________ of capital which will be structures 60% and 40% debt and equity capital where
NPR ______ shall be injected through the capital of shareholders and NPR _____ shall be
injected through debt capital. The fund shall be raised through long term from financial
institution.

12. Capital structure:

Loan 40%

Capital 60%

Total 100%

13. Key performance indicators:

Our source of income will be service fee in each event. We negotiate with vendors for cost
effectiveness. The profit would be low for initial two years since we will focus on
sustainability and quality assurance. We organize wedding events only five months of a
year (Mangshir, Magh, Falgun, Baisakh and Asadh). Number of events will be increased
once we establish our brand in the market.
Table of Contents
List of Tables and Figures: ......................................................................................................................... 8
List of Tables: ............................................................................................................................................. 8
List of Figures: ............................................................................................................................................ 8
1. INTRODUCTION ............................................................................................................................... 1
1.1 Vision: .......................................................................................................................................... 2
1.2 Mission: ........................................................................................................................................ 2
1.3 Values: .......................................................................................................................................... 2
1.4 Objectives: .................................................................................................................................... 2
1.5 Key Resources: ............................................................................................................................. 2
1.6 Key Partners: ................................................................................................................................ 3
1.7 Key Activities:.............................................................................................................................. 3
1.8 Channel: ....................................................................................................................................... 4
1.9 Customer Relationship: ................................................................................................................ 4
1.10 Cost Structure: .............................................................................................................................. 4
1.11 Revenue Structure: ....................................................................................................................... 4
2. Product and Services: .......................................................................................................................... 5
2.1 Product’s Category: ...................................................................................................................... 5
2.2 Costing and Pricing Basis: ........................................................................................................... 6
3. Industry and Market Analysis.............................................................................................................. 7
3.1 Five forces of market and its state in this industry:...................................................................... 7
3.2 Competitor Analysis ..................................................................................................................... 8
3.3 Consumer and demand analysis: .................................................................................................. 9
4. Marketing Plan .................................................................................................................................. 10
4.1 Market Analysis: ........................................................................................................................ 10
4.2 Marketing and Growth strategy: ................................................................................................ 10
4.3 Marketing mix: ........................................................................................................................... 12
5. Operational /Production Plan............................................................................................................. 15
5.1 Location Premises: ..................................................................................................................... 15
5.2 Time plan/Work schedule: ......................................................................................................... 15
5.3 Supply chain: .............................................................................................................................. 15
 5.4 Source of raw materials and supplies: ........................................................................................ 15
5.5 Plants/Machineries: .................................................................................................................... 16
5.6 Technology: ................................................................................................................................ 16
5.7 Skills require .............................................................................................................................. 17
5.8 Operation Process:...................................................................................................................... 17
6. Management Plan .............................................................................................................................. 18
6.1 Organizational Structure: ........................................................................................................... 18
6.2 Departmentalization and their core functions: ........................................................................... 18
6.3 Job Description of Key Positions and Employees: .................................................................... 20
7. Financial Plan .................................................................................................................................... 23
7.1 Background ................................................................................................................................ 23
7.2 Start-up costs: ............................................................................................................................. 23
7.3 Packages Expenses ..................................................................................................................... 25
8. Critical Risk ....................................................................................................................................... 27
8.1 Key Risk in the business: ........................................................................................................... 27
8.2 Risk Management Plan: ............................................................................................................. 27
9. Harvest Strategy: ............................................................................................................................... 28
10. Milestone Schedule ........................................................................................................................ 30
Bibliography: ............................................................................................................................................ 32
List of Tables and Figures:

List of Tables:
Figure 1: Organizational Structure............................................................................................................ 18
Figure 2: Departmentalization .................................................................................................................. 18

List of Figures:
Table 1: Job Description ........................................................................................................................... 20
Table 2: Preliminary Expenses ................................................................................................................. 23
Table 3: Capital Structure ......................................................................................................................... 23
Table 4: Vehicles ...................................................................................................................................... 24
Table 5: Furniture and Fixtures................................................................................................................. 24
Table 6: Office equipments ....................................................................................................................... 24
Table 7: Silver Packages ........................................................................................................................... 25
Table 8: Gold Packages ............................................................................................................................ 25
Table 9: Platinum Packages ...................................................................................................................... 26
1. INTRODUCTION

Marriages are made in heaven. In past, Marriage ceremonies were conducted under supervision of
senior most of the family. They simply gather to perform rituals and celebrations. But in recent
years, at least catering, event Management Company and banquets are booming for such
ceremonies to minimize the time of preparation. Many people find it very difficult to manage
everything in their wedding day and wish for a savior from all these troubles to pull off the wedding
smoothly and beautifully for a memory to last for a life time. Since few years event management
companies has started wedding management too by organizing partial services as desire by
customers. However, there is no complete service provider yet in the market. By keeping the same
in mind, Wedding Wonders aims to start a complete solution or one-stop for wedding planning
and management in Kathmandu.
Wedding Wonders plan events like this on regular basis. Wedding Wonders helps plan the
wedding, deals with vendors, and co-ordinate the chains of events at the wedding and reception to
make sure the day goes off without a hitch. In a nutshell, wedding planners are in the business of
creating happiness and keeping everything organized, so the couple doesn’t have to worry about
little and big things. When it comes to planning weddings, there are many moving parts, from
picking out a bridal dress and venue to choosing invitations, to hiring a band to selecting a menu
and list goes on. Similarly, other services are Band Baja, musical performance, vehicles for Janti,
venue decorations etc are emerging for wedding events.
Wedding wonders is a full phase wedding planning and co-coordinating company, providing
services to all the Nepalese. Delightful and memorable wedding don’t just happen, they take
thoughtful planning and careful co-ordination. Wedding Wonders will help in developing a vision
to make the event totally unique and remarkable. We believe in creating better than the best and
strive for the complete satisfaction of our clients. Wedding Wonders can ease the burden of finding
and arranging every requirement of Nepalese weddings, lightening the task of co-coordinating the
event and most importantly save your time and money. Wedding Wonders primary goal is to
ensure that your event reflects the style and images associated with who you are and what you
stand for. We will create events suited to the couple’s unique style as a true expression of their
relationship and individuality as a couple.

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1.1 Vision:

Become a most preferable wedding planner.

1.2 Mission:
• Consistent and accurate fulfillment of the client’s wishes and wedding dreams
• Maintain an excellent working relationship with vendors
• Contribute to preserve values, social culture and rituals
• Competitive pricing for the quality of services offered

1.3 Values:

Our values: integrity, services, excellence and teamwork can be seen through our work.
We believe in positive and result-oriented attitude than skills. We connect with customer’s
emotion and values to deliver what matters them.

1.4 Objectives:
Long term:

• Be one of the best wedding planner specialists in the world

• Stress free and handy wedding planning and co-ordination

Short term:

• Produce the same quality results every time

• Create better than the best and strive for the complete satisfaction of our clients.

1.5 Key Resources:

• Contact Office
• Website/Social media pages maintainer
• Theme/Concepts and Service packages
• Customer database

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 • Finance

1.6 Key Partners:

• Brides/Groom and family

• Vendors/Suppliers
• Decorators and Caters/Hotels
• Fashion retailers designers
• DJs, expert photographers and beautician

1.7 Key Activities:.

Pre-wedding:
1. Understanding customers requirement
2. List of activities
3. Budget planning
4. Design the service
5. List of deliverables
6. Vendors/Suppliers contact

During wedding:
1. Venue, food and beverages
2. Puja and procedures
3. Guest arrangements
4. Entertainment
5. Photographer and videographer

Post Wedding:
1. Research and documentation
2. Honeymoon arrangement
3. Feedback and documentation

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1.8 Channel:

• Word of mouth
• Blogs
• Digital Media and print media
• Vendor networking
• Online official websites

1.9 Customer Relationship:

Better Customer relationship increases the market through word of mouth, which can be
made stronger through:
• Anniversary Gifts and discount offers
• Cost effective
• Dream Wedding
• Family membership and Community events

1.10 Cost Structure:

• Initial cost
• Fixed cost(Salary, rent, utilities, furniture)
• Variable cost ( operating overhead, working capital, marketing cost, PR
management cost)

1.11 Revenue Structure:

• Service charges
• Wedding Packages
• Lending/renting

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2. PRODUCT AND SERVICES:

Wedding Wonders primary goal is to ensure that our event reflects the style and images associated
with who you are and what you stand for, whether this our client’s matchmaking, wedding
ceremonies, shopping, entertainment etc. We want every detail to be both pleasurable and a
memorable experience. Therefore, we offer a host of packages and services specifically tailored to
the needs of each couple. Many people find it very difficult to manage everything in their wedding
day and wish for a savior from all these troubles to pull off the wedding smoothly and beautifully
for a memory to last for a life time. Since few years event management companies has started
wedding management too by organizing partial services as desire by customers. However, there is
no complete service provider yet in the market. By keeping the same in mind, Wedding Wonders
aims to start a complete solution or one-stop for wedding planning and management in Kathmandu.

2.1 Product’s Category:

In today’s context, couples have more disposable income to afford the wedding expenses; and
they are more likely to look for some special unique wedding styles, such as theme wedding,
green wedding, destination wedding etc, which probably involve different elements, such as
ethnic, religious custom, family tradition, class identity, regional practice and individual tastes
and preferences.

Types of wedding packages:

➢ Silver Packages:
• Venue and catering
• Decoration and lighting
• Musician (Band Baja)
• Mandap (Puja materials)
• Photography/Videographer

➢ Gold Packages:
• Invitation card
• Venue and catering

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 • Decoration and lighting
• Sound system
• Beautician
• Musician (Band Baja)
• Mandap (Puja materials)
• Photography/Videographer
• Transportation Facilities (Buggy, Cars)

➢ Platinum Packages:
• Invitation card
• Venue and catering
• Decoration and lighting
• Sound system
• Beautician
• Musician (Band Baja)
• Mandap (Puja materials)
• Photography/Videographer
• Transportation Facilities (Buggy, Cars)
• Theme Wedding (as per customer’s choice) or Destination Wedding.

2.2 Costing and Pricing Basis:

Most of the people generally consider the price for the wedding expenses and want to
achieve quality services at minimum price. The price should have reference to its cost, as
they must be recovered at least in the long run. The price should be average enough to
attract the customers but keeping in mind about the reasonable profits to the company.
Thus, Price should match with the positioning strategy of the company. We will provide
various schemes like car decorations, free decorations and in case of platinum package we
will provide hotel night stays during bride-groom honeymoon.

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3. INDUSTRY AND MARKET ANALYSIS

Wedding planning is emerging in name of industry. Market Analysis from the past research found
that young generations finds wedding as a stressful event and It is also seen that a family with
higher earnings are much more attracted to the wedding company rather than the family with low
earnings. Education also influences the growth of this business as educated people are more aware
about the wedding company rather than uneducated people as they are more connected to social
media, more exposure regarding to this kind of event Management Company. However, there is
no complete service provider yet in the market. By keeping the same in mind, Wedding Wonders
aims to start a complete solution for wedding planning and management.

3.1 Five forces of market and its state in this industry:

Bargaining power of supplies:

Since in carrying out our business, 90% of our services depend on our vendors, their
importance cannot be overlooked. However, since there are many suppliers, their bargaining
power remains low. But since we believe long term relationship with our suppliers, we would
do business in a way that maximizes profit for all.

Rivalry within industry:

Since there are already four wedding planning companies in Kathmandu. The uniqueness along
with responsible pricing and different variety of packages we shall be offering to our clients
gives our company a competitive edge over our competitors.

Threats of new entrants

The new entrants can easily enter the market because of the profitability and the availability of
high market share. However due to the initial capital requirement, required expertise in event
management and country's current political instability, this threat may remain low.

Threat of substitute products:

The substitute in the case of our proposed business would be the various individual vendors
such as the party palaces, event management companies, decoration etc. but they are limited

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 to their respective business areas. None provides an entire wedding service packages. Thus
substitute products and their threat remain low.

Bargaining power of customers:

Since there are presently only four wedding planning companies in Nepal. The customers do
not have a strong bargaining power. Our company will be the only company to provide a wide
range of wedding planning packages to meet the needs of the different segments of customers,
thus our bargaining power remains stringer than that of our customers.

3.2 Competitor Analysis

We will need to compete against event planners both on large and small scale. However, the
major challenge is we must compete with the couples or their families who choose to plan their
wedding themselves. There are six wedding management companies in Kathmandu so far. But
we only were able to communicate three out of them. Out of three one company has stopped
operation and informed us they will resume some time later with new strategy and they will
focus only in niche market for high class families. However there are few other event
management companies who also are doing wedding management when customers request
them. Based on those competitors' position, we have conducted SWOT analysis to identify the
business and competitors in the market.

Strengths

• Strong relationship with vendors/ suppliers

• Dedicated team
• Strong social network
• Innovative business ideas

Weakness

• Lack of past experience on wedding event management

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 • Research and Development in culture part yet to be done
• Lack of professional experience in the field

Opportunities

• Emerging market demand

• Changing lifestyle and growing disposable income
• Couples in abroad who want to organize wedding in Nepal

Threats

• New entry of competitors

• Educating customers about the nature of business and quality benchmark
• Conversion of existing big consultancies into career counseling

3.3 Consumer and demand analysis:

Young generation finds this concept of wedding planning very useful while older generation
is not sure about this. It is also seen that the family with higher earnings are much more
attracted to the wedding company rather than the family with low earnings. Education also
influences the growth of this business as educated people are more aware about the wedding
company rather than uneducated people. Also those who have their family members abroad
are accepting the concept easily may be because of the global exposure they have through their
family members. So, our market analysis shows that my business concept has immense scope
and we are very excited about starting the business.

The wedding industry is globally diverse and there are a variety of types and traditions that are
involved in ceremonies between ethnic groups, countries and cultures. The demand for
wedding services is dependent upon the personal income of the customer and/or their families,
as well as consumer preferences for their wedding ceremony. Some business offer more than
one wedding service in order to generate increased revenue, while others specialize in one
sector of the wedding industry and focus on supremely efficient and effective in that unique
area.

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4. Marketing Plan

4.1 Market Analysis:

Market Analysis from the past research found that young generations finds wedding as a
stressful event and It is also seen that a family with higher earnings are much more attracted to
the wedding company rather than the family with low earnings. Education also influences the
growth of this business as educated people are more aware about the wedding company rather
than uneducated people as they are more connected to social media, more exposure, and access
to information regarding to this kind of event Management Company. Since few years event
management companies has started wedding management too by organizing partial services as
desire by customers. However, there is no complete service provider yet in the market. By
keeping the same in mind, Wedding Wonders aims to start a complete solution or one-stop for
wedding planning and management in Kathmandu. So, my market analysis shows that my
business concept has immense scope and I am very excited about it.

Wedding Wonders have segmented the market according to the income status, type of family
and various other characteristics. Other marketing segment is joint families and nuclear
families. Those who have their family members working abroad make another category to do
the group of family with young earners. The main product of the organization is categorized
into Silver Wedding, Gold Wedding and platinum wedding. The cost of the product is
determined by the choice of customers. Within each product package the customer can either
increase or decrease their requirements as per their convenience and the price will vary
accordingly. With the marketing strategies being applied and aggressive marketing that we are
going for, we expect the brand awareness to increase by 20%-40% in the next one and half
year.

4.2 Marketing and Growth strategy:

We are mindful the fact that there is stiffer competition amongst professional wedding planner
companies in Kathmandu; hence we have been able to hire some of the best business developer

10
to handle our sales and marketing. Our goal is to grow our professional wedding planner
company to become one of the top professional wedding planners. Our sales and marketing
team will be recruited base on their vast experience in the wedding Planners industry and they
will be trained on a regular basis so as to be well equipped to meet their targets and overall
goal of organizations.

We will also ensure that our excellent job delivers speak for us in the market place; we want
to build a standard professional wedding planner business that will leverage on word of mouth
advertisements from satisfied clients (both individual and corporate organizations). Our goal
is to grow our professional wedding planner company to become one of the top professional
wedding planner companies in Nepal which is why we have mapped out strategy that will help
us take the advantage of available market and grow to become a major force to reckon with
not only in Kathmandu city, but also in other cities in Nepal. With the marketing strategies
being applied and aggressive marketing that we are going for, we expect the brand awareness
to increase by 20%-40% in the next one and half year.

Wedding Wonders is set to make use of the following marketing and sales strategies to attract
clients:

• Introduce our business by sending introductory letters, alongside our brochure to

corporate organizations, religious organizations, households, and key stakeholders in
other cities.
• Advertise our business in relevant business magazines, newspaper, TV stations and
radio stations.
• Attend relevant local expos, seminars, business fairs etc
• Create different packages for different category of clients in order to work with their
budgets and still deliver quality wedding planning services to them.
• Leverage on internet to promote our business
• Engage direct marketing approach.
• Encourage word of mouth marketing from loyal and satisfied customers
• Join local chamber of commerce and industries with the aim of networking and
marketing our services.

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4.3 Marketing mix:

Product:
Our company will offer different packages of wedding depending on the wedding budget
of the customers, the packages being simple, elaborated and marvelous packages. Wedding
Wonders primary goal is to ensure that our event reflects the style and images associated
with who you are and what you stand for, whether this our client’s matchmaking, wedding
ceremonies, shopping, entertainment etc. All the packages will include a whole range of
products and services such as making invitation, arrangement for venue and catering, floral
decoration, lighting, entertainment, photography and videographer, arrangement of return
gifts. Timeliness, accuracy, courtesy, responsiveness, consistency, accessibility is the
service will be of high quality.

Price:
Pricing is very important aspect of any business. As the wedding planning is directly of
customer based, pricing has much more importance. We will not charge separate fees for
the service. We will provide discounts for those who chose the whole package of the
wedding service. Similarly we will make arrangement for discounts if the customers are
willing to buy through the vendors we have suggested. Various free schemes can be offered
to the customers to attract to our business. For instance, if one chooses a marvelous
wedding package then we offer a free hotel stays during their honeymoon trip at various
hotels in the different part of the country.
The prices we will charge our customers will include all payments to be payments to be
made to all vendors as per their rate. The customer’s will get to choose the packages they
like the best. We will offer customization of products to our clients by adding/removing
vents they want to. We will charge service fees of 10% of the total wedding budget/cost of
our customers. After consultation and finalizing the scope of services, the expenses for the
same and the fee are:
-25% advance for booking our services
-50% two weeks prior to the wedding/function
-25% two days after the function

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Promotion:

Internet/website:
We must convey the message of our service and our performance to the world via the web.
Starting a web site is less important maintaining it. At least weekly updates should be made.
New offers and packages, price lists and past events should be regularly uploaded. On the
other hand, it is going for the viral marketing in various internet sits including the
“Facebook”, which is cost effective and is very great way to link with the youth of the
country.

Public relation:
As wedding itself is a mass gathering, we can advertise our service in the wedding itself.
We have to make people know about our service. We have to attend the wedding ceremony
and deal with the guest personally. They will know about us and thy will expertise our
service. We have to make frequent public appearances. We have to meet with the vendors
and our supporters frequently and maintain a smooth relation with them. It helps to enhance
the customer loyalty and helps to maintain better relationship with publics.

Cards and pamphlets:

We will distribute our visiting card and attractive pamphlets among the guests attending
the wedding. They will know about us and thy will expertise our service. The card will
contain our contact information and the pamphlet ill contain our service list, package
programs, discounts and other attractive offers.
Adequate emphasis on marketing and advertising will be done in the initial stage.
Continues advertisement will be undertaken even after the initial stage. This is the most
appropriate medium of promotion because attracting new clients will mostly be based on
the referrals made by our previous clients. Public relations will be built through giving
attention to the target consumers, by putting stalls at local markets. Social media one of the
medium which is inexpensive and also attracting to thousands of people at the same time
and other medium like magazines, brochures, fliers, etc.
Places:

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The office or our company will be located in Baneshwor from where various operations
will be carried out. The reason for choosing as it is the very centre of the city and easily
accessible with public transport. A parting area underground will be very useful. The office
will be operated in a rental area. Initial rental agreement will be for a period of 5 years and
the renewal of the rent contract will be on mutual consent. The place is convenient for the
customers as well as for the business operation. This area has potential market with
presence of many restaurants, beauty salons and clothing stores, shopping complex and
accessibility to transportation facility.

Process:
Process in which the services are delivered to the clients is the most important aspect of
our business. Our focus is on making the overall events hassle free, fun filled and
memorable for the clients and their family. Clients can make their queries in the office or
even in the company’s website/phone calls. The entire planning of the events will be
accepted and followed in every step of planning the wedding.

Physical evidence:
Our office is located in a very convenient place. The interior of the office will be well
designed and decorated in order to attract the clients. Comfortable sofas will be placed so
that they can decide their packages relax and comfortable that we offer. Our office walls
will have framed of most of the exquisite wedding decors where showing our different
packages through the photographs.

People:
When we talk about ‘people’ component in marketing mix, we are talking about two main
groups namely: Service personnel and customers. Our overall business motive is to provide
good and satisfactory service to our customers. To achieve this objective, There is effective
selection, recruitment, motivation and training of right service personnel which enhance
the consistency of appearance of personnel, the accessibility of people, customer-customer
contact and so on.

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5. Operational /Production Plan
5.1 Location Premises:

The office of the Wedding Wonders Pvt.Ltd will be located at Baneshwor, the reason for
choosing as it is the very centre of the city and easily accessible with public transport. The
office will be accommodating in a flat including a meeting room. A parting area
underground will be very useful. The office will be operated in a rental area. Initial rental
agreement will be for a period of 5 years and the renewal of the rent contract will be on
mutual consent.

5.2 Time plan/Work schedule:

Working schedules of our company would be from 10:00 to 8:00 PM. On the urgent basis
we shall provide additional service to the customers if they order. Everyone will work full
time for the company.

5.3 Supply chain:

Wedding Wonders will establish and maintain good relationship with all the suppliers.
Right from the wedding venue providers/caterers to the florist and photographers, we will
maintain an excellent network. From booking the vendors to coordinating the payment,
we will ensure constant follow up with the vendors or any changes of wedding plans and
details.

5.4 Source of raw materials and supplies:

In order to get competitive prices we may require gathering various quotations from
various vendors which may vary depending upon client’s requirement. Following are the
supplies we require for the wedding event:
• Sweet shops, supari providers, packaging materials etc for saipata or supari ceremony
• Transportation providers
• Photographer and videographer
• Pandit and puja materials
• Catering and rental
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 • Venue and decoration
• Florist and lighting men
• Dress designer, tailors and jewelry shops
• Band Baja, DJ, Musical bands and other entertaining groups
• Beautician, Makeup artist and heena artists
• Invitation supplier
• Couriers and Gifts shops
• Bakers for cakes
• Interior designer
• Travel agencies
• Hotels
• Buggies suppliers

5.5 Plants/Machineries:

The main product of the organization is categorized into Silver Weddings, Gold Weddings
and Platinum weddings. This entire product contains different packages. The cost of the
product is determined by the choice of customers. Within each product package the
customer can either increase or decrease their requirements as per their convenience and
the price will vary accordingly. We are full-service wedding consultants group and provide
the following services: etiquette advice, event scheduling, discounted invitations and
products, vendor confirmations, rehearsal attendance, supervision of both reception and
ceremony setup and budget planning.

5.6 Technology:

For the daily operation of product and service provided, Following Software shall be used
to keep the record of service provided and to smooth its services to the clients:
• Event Management Software
• Customer relationship management
• Hash tag in the internet

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 • Latest sound and light system
• Video screening
• 3D printed cakes and desserts
• Using drones for photo and video

5.7 Skills require

Basic skills for a service industry are communication skills, social skills or public
relationship and customer care. In wedding planning specially we need to have excellent
organizational skill, excellent attention to detail, budget management and sales and
negotiation skill. But in general, we also need to be able to work under pressure and deal
with unexpected problems.

5.8 Operation Process:

• It will take one month for preparing legal documents and company registration
process.
• Recruitment will be done and induction and training for new employees
• In the meantime, we develop our website, facebook page and instagram page and
printing business card and brochure.
• Review and update service design as per the market trend and change.
• Marketing approach to stakeholders by leaving the business cards , brochure etc
• List of prospects clients and approach them by fixing meetings and discussion about
the mutual partnership for business
• Vendor management and prepare checklist as per service designed
• Create virtual portfolio of expected events
• Start marketing campaigns on social media and Hire blogger and publish blogs
• Hire part time on call staff and train
• Final review of task and final preparation
• Event day co-ordination
• Invoice release along with feedback

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 6. Management Plan

6.1 Organizational Structure:

Managing Director
Business Helper/ Customer
Event Manager Development Accountant Care
Executive Messenger Executive

Figure 1: Organizational Structure

I will be the CEO of the company, I will have staffs designated as Wedding Planner, Wedding Manager,
Event co-coordinator, Interior and Exterior Designers, the general manager will be the corner store of the
company. I will be dealing with increasing public relation, making future plans for the company, attend
meetings with external agencies. The general manager is the leader and is also responsible for the company
and also principle partner. He handles the projects of the Wedding ceremony and other events. He makes
all the arrangements for the smooth running of the event. Similarly other personnel’s perform their task
as assigned to them respectively.

6.2 Departmentalization and their core functions:

Functional
Departmentalization

Production Marketing Human Resource

Finance Department
Department Department Department

Figure 2: Departmentalization

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Production Department:
The production and planning department will set standards and targets for each section of the
production process. They will make sure that the quantity and quality of the materials, components,
and equipment required to keep the production process running smoothly is properly monitored.
In businesses focusing on lean production, quality will be monitored by all employees at every
single stage of production, rather than at the end as is the case for businesses using a quality control
approach. This department will be responsible for stocking all the necessary tools, spares, raw
materials and equipment required to service the manufacturing process.

Marketing Department:
The senior member of the marketing department takes responsibility for setting marketing strategy
in line with overall company strategy and objectives. The strategy may be to increase share in a
specific market sector, for example to enter a new sector, or to open a new channel of distribution,
such as the internet, to reach a wider geographical market. The marketing department reaches
agreement on strategy with the board or senior management team before planning campaigns in
detail. Marketing employees provide development teams within formation on customer needs and
preferences to help them identify the features or improvements to incorporate in new products.
Later in the product development process, the marketing department sets prices and prepares plans
to launch the product. As per the need they may appoint advertising agencies to produce the work.
They also promote external events to customers and prospects to ensure successful attendance.

HRM Department:
Recruiters who work in house as opposed to companies that provide recruiting and staffing
services play a key role in developing the employer’s workforce. They advertise job postings,
source candidates, screen applicants, conduct preliminary interviews and coordinate hiring efforts
with managers responsible for making the final selection of candidates. Employee relation is the
HR discipline concerned with strengthening the employer-employee relationship through
measuring job satisfaction, employee engagement and resolving workplace conflict. The HR
functions include setting compensation structure and evaluating competitive pay practices.
Finance Department:

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The finance department is also responsible for management of the organization’s cash flow and
ensuring there are enough funds available to meet the day to day payments. This area also
encompasses the credit and collections policies for the company’s customers, to ensure the
organization is paid on time, and that there is a payment policy for the company’s suppliers. Where
there are cash needs beyond the day to day working capital, the finance department is responsible
for advising and sourcing longer term financing. Finance department can often contribute to the
management and improvement of the operations by measuring and reporting regularly on key
numbers crucial to the success of the organization. Organization know the finance department
should be considered a resource to assist managers in the running of the business.

6.3 Job Description of Key Positions and Employees:

Designation Job Description

Managing Director Managing Director is responsible for developing company's policies
and implementing them. She will be responsible for overall company's
growth and will be representing the company in public at events. She
will be leading, coaching and mentoring and supporting the
subordinates for their professional development.
Qualification and Experience:
Managing Director Ms. Aabha Shrestha has degree of Executive
MBA. Following are her experiences:
− Social and professional event management for more than five
years.
− Good public relations and communication skills.
− Good at micro management and organizing skills.

Event Manager Event manager is responsible for planning, managing and

implementing events within time, budget and expectation. He/she

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 should be creative and able to work under deadline pressure.. He/she
is responsible for people management during the event and prepare
post event evaluation in inform future events.
Qualification and Experience:
− MBA graduate with preferable specialization in project
management and marketing
− Experience in hospitality, event management, public relations
are preferable
− Should possess organizing skills with leadership and
communication skill

Customer Care Customer Care Executive ensure all the contact with the clients,
Executive provides the client with personalized customer service experience of
the highest level. They are expected to manage administrative duties
assigned by the manger in an effective and timely manner.
Qualification and Experience:
− MBA graduate with preferable specialization in personalized
customer service
− Fresher are encouraged to learn and grow
− Should possess organizing skills with leadership and
communication skill
Business Business Development Executive is solely responsible for marketing
Development activities along with sales and campaigns. We don't have position as
Executive marketing personnel but we call it business development. So BDE is
highly expected to create, plan and executive branding, sales and
marketing strategies. He/she will be meeting clients and acknowledge
the requirements which are communicated to event manager. He/she
shall be responsible for client relationships, social relationships and
media relationships.
Qualification and Experience:

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 − MBA graduate with preferable specialization in project
management and marketing
− Should possess an excellent communication and outspoken
skill

Accountant Office Assistant is responsible for day to day administrative and

financial works. He/she will reports to event manager for overall
administrative assistant for overall events. He/she is responsible to
attend clients visit at office and provide basic information they inquire.
She makes sure bridging between suppliers and event manager and
client and BDE.

Qualification and Experience:

− BBA graduate with two years experience in administrative and
finance jobs
− Should be pleasuring personality and possess learning attitude

Helper/ Messenger Helper/Messenger is responsible for distribution of documents, ensure

bank transactions, utility bills payment etc. He/she assists office
assistant for day to day work and also look after pantry when required.
Qualification and Experience:
− Minimum SLC
− Should be able work under pressure, travel daily for
transactions, possess driving license both two and four
wheelers

Table 1: Job Description

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7. Financial Plan
7.1 Background

A financial plan is a comprehensive evaluation of an investor’s current and future financial state
by using currently known variables to predict future cash flows, assets values and withdrawal
plans. Most individuals work in conjunction with a financial planner and use current net worth,
tax liabilities, assets allocation, and future retirement and estate plans in developing financial
plans. When you’re putting a business plan together, the financial plan can feel like the most
intimidating part. Financial plan helps to know about the financial position of the business.

7.2 Start-up costs:

Preliminary Expenses
Particulars Amount
Registration 15000
Company logo 20000
Internet Registration 5000
Telephone 5000
Website 50000
Repairs 5000
Renovation 50000
Total 150000
Table 2: Preliminary Expenses

Capital Structure
Loan 40% 1200000
Capital 60% 1800000
Total 3000000
Table 3: Capital Structure

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Vehicles
Particulars Quantity Price Amount
Scooter 2 200000 400000
Total 400000
Table 4: Vehicles

Furniture and Fixtures

Particular Quantity Price Amount
Sofa set 2 30000 60000
Cupboard(second hand) 2 25000 50000
Book cases 1 10000 10000
Plastic chairs 10 200 20000
Table 3 10000 30000
Chairs (Office chairs) 7 6000 42000
Carpet 2 30000 60000
Curtains 4 40000 16000
Total 270000
Table 5: Furniture and Fixtures

Office Equipment
Particulars Quantity Price Amount
Laptop 3 35000 105000
CCTV 1 30000 30000
Smart phone 2 20000 40000
Phone 2 2500 5000
Printer 1 20000 20000
Inverter 1 30000 30000
Total 230000
Table 6: Office equipments

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 7.3 Packages Expenses

Silver Packages:

Particulars Quantity Rate Amount

Venue and Catering 300 1000 300000
Decoration and lighting 20000
Musician (Band Baja) 10000
Mandap (Puja materials) 20000
Photography/Videographer 50000
Total 400000
Table 7: Silver Packages
Assumption: Number of people will be 300

Gold Packages:

Particulars Quantity Rate per unit Amount

Invitation Card 600 50 30000
Venue and Catering 600 1200 720000
Decoration and lighting 40000
Sound system 40000
Beautician 50000
Musician (Band Baja) 20000
Mandap (Puja Materials) 40000
Photography/Videographer 50000
Transportation Facilities 10000
(Buggy, Cars)
Total 1000000
Table 8: Gold Packages
Assume: Number of people will be 600

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Platinum Packages:

Particulars Quantity Rate per unit Amount

Invitation Card 1000 100 100000
Venue and Catering 1000 2000 2000000
Decoration and lighting 50000
Sound system 50000
Beautician 60000
Musician (Band Baja) 40000
Mandap (Puja Materials) 50000
Photography/Videographer 80000
Transportation Facilities 20000
(Buggy, Cars)
Theme Wedding 50000
Total 2500000
Table 9: Platinum Packages
Assume: Number of people will be 1000

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8. Critical Risk
8.1 Key Risk in the business:

Every business involves some kind of unfavorable uncertainties which can be termed as
risks. But the business should analyze and address such risks in order to do better in the
market.

Internal risk:

• Delay in the process of registration and legalities involved.

• Lack of experienced staffs
• Human resource and logistics management
• Lack of organizing management

External Risk:

• Political instability may arise strikes

• Disputes with vendors and suppliers
• Entrants of new competitors
• Natural calamities

8.2 Risk Management Plan:

Following steps are involved in risk management which should be carried out in a planned
and professional manner:
• Identify those elements or activities which could carry a risk
• Determine the possibility of occurrence of the risk and the severity of the consequences
if the risk does happen.
• Risk prioritization
• Formulate, prepare and implement strategies to manage the risks( risk avoidance,
retention, risk transfer ,risk reduction)
• Monitor the risk periodically

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9. Harvest Strategy:

One of the main goals of our company is to achieve growth and expansion that can lead in the
market. Our company will be establishing in Kathmandu only for now but later years we will be
building our office and expanding our service to other cities too. Wedding wonders wedding
planner is a client focused and result driven wedding planner company that provides broad based
services at an affordable fee that won’t in any way put a hoe in the pocket of our clients. We will
offer a standard wedding planner services to all our clients at local, state, national and in future
international level too.

In the starting phase, we will do marketing and branding intensive so we will able to tap the
customers to fulfill the gap in the market. Furthermore, we have also thought of adding new
facilities in packages within cost limit so that our customers can get new experiences. And, we can
hire intern to grow the team along with interaction and documentation with the experts for research
and development in culture, history and rituals. Spreading word of mouth in social magazine and
appearance in wedding magazine will help to reach the more number of customers. Since we are
startups, we might not earn profit due to underestimating the cost as well as we solely needs to
depend on vendors/suppliers. Also it would be our skill negotiating with vendors for low
quotations. This way we as well we will offer low cost for customers.

In the maturity phase, we will be creating referral sources for new business and gaining a sense of
which vendors are professional, reputable and worth referring to our own clients. Direct contact
with venues, caterers, photographers, videographers, florists, officiates and more other sources
need to be consideration like visiting the store or website to learn about the types of services, you
should be offering competitive pricing, affiliates, staff requirements, industry resources and
suppliers. The customers can order their own design as per the design catalogue, where customer
card to every customer for getting discount offers on according to their wedding plan. Booking
through phone and online, swap of a credit card, visa card, SCT card shall be provided. Our key
to success or business strategy includes the commitment to quality by every person who is a part
of team. Each one of us will be responsible to push ourselves to higher level of professionalism.
Since, it is a new concept and service is directed to customers.

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In the decline phase, Demand is expected to decrease as compared to previous month as season
gets over. We will stick with general working schedule with seven full time workers. We will cut
down part time workers which will reduce the expenses. We will participate in other events like
pasni, bartabanda, anniversaries as it is not hard to manage the event which is not so different from
wedding. Full time workers will be engaged for planning and development of the events and
marketing in off seasons. Also they will be busy for the business extension plan, vendor
management and public relations

For our exit strategy, we shall be merging with similar company, or being bought by a larger
company so we can pay investors, pay our self, take some time off. One often-overlooked exit
strategy is simply to shutdown, close the business doors and liquidate. If we fail in future we would
not think of closing our business completely. Instead, we would examine from the right beginnings
on where we have made mistakes and try to correct them. We will be focusing on our goals, and
the way we grow it, we be aligned with our exit strategy. And rather thinking of it as a succession
plan, or a successful transition.

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10. Milestone Schedule

Wedding wonders is a full phase wedding planning and co-coordinating company, providing
services to all the Nepalese. Delightful and memorable wedding don’t just happen, they take
thoughtful planning and careful co-ordination. Wedding Wonders will help in developing a vision
to make the event totally unique and remarkable. We believe in creating better than the best and
strive for the complete satisfaction of our clients. Wedding Wonders can ease the burden of finding
and arranging every requirement of Nepalese weddings, lightening the task of co-coordinating the
event and most importantly save your time and money.

We will also ensure that our excellent job delivers speak for us in the market place; we want to
build a standard professional wedding planner business that will leverage on word of mouth
advertisements from satisfied clients (both individual and corporate organizations). Our goal is to
grow our professional wedding planner company to become one of the top professional wedding
planner companies in Nepal which is why we have mapped out strategy that will help us take the
advantage of available market and grow to become a major force to reckon with not only in
Kathmandu city, but also in other cities in Nepal.

We will at all times demonstrate our commitment to sustainability, both individually and as a firm,
by actively participating in our communities and integrating sustainable business practices
whenever possible. We will ensure that we hold ourselves accountable to the highest standards by
meeting our client’s needs precisely and completely. We will cultivate a working environment that
provides a human, sustainable approach to earning a living, and living in our world, for our
partners, employees and for our clients. The operation process or milestone schedule for the
wedding wonders is as follows:
• It will take one month for preparing legal documents and company registration process.
• Recruitment will be done throughout the month
• In the meantime, we develop our website, facebook page and instagram page and printing
business card and brochure.
• Induction and training for new employees
• Review and update service design as per the market trend and change.
30
• We will focus on spreading our brand name through social media.
• Marketing approach to stakeholders (vendors, prospects, media etc) by leaving the
business cards , brochure etc
• List of prospects clients and approach them by fixing meetings and discussion about the
mutual partnership for business. We will offer cost effective event and present the
intangible benefits to them. We would even start a small portion of management in initial
years.
• Vendor management and prepare checklist as per service designed
• Create virtual portfolio of expected events
• Start marketing campaigns on social media
• Hire blogger and publish blogs and article in wedding bells magazine right before wedding
season starts.
• Receive orders and prepare proposal as per clients requirement with in a business day
• Negotiate and sign MUA
• Prepare project details in project management tools to ensure the management in time
• Hire part time on call staff and train
• Final review of task and final preparation
• Event day co-ordination
• Invoice release along with feedback form
• Post event meeting with client for discussion about the event
• Documentation and learn.

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Bibliography:

• https://www.outfitternepal.com/blog/marriages-system-in-nepal
• https://www.reddit.com/r/Nepal/comments/a3aikp/middle_class_wedding_cost/
• http://www.ceremonynepal.com/services/nepal-wedding-planners
• http://www.ceremonynepal.com/services/nepal-wedding-planners

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