Enhanced Event Hire - A critical evaluation of the feasibility of establishing an event hire business in Bristol, specialising in weddings, parties and corporate events
University of Wales
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The project aim is to critically evaluate the feasibility of establishing an event hire business in Bristol, specialising in weddings, parties and corporate events. The proposed business idea is to offer a service of hiring equipment and décor items to enhance the appearance and ambience of events. After comprehensive research, of current and accurate literature on Entrepreneurship, starting a business, wedding and the event industry and the current economic climate, primary research was conducted via the form of an online questionnaire which had 100 respondents. The market research concluded that 84% would prefer a service that offers wedding décor packages. 62% would pay over £1,000 pounds for wedding décor for items such as centrepieces, dance floors and draping elements. The business plan was conducted using the knowledge gained from studying an event management degree, previous work experience in the event hire industry and management, plus detailed primary and secondary research. The primary and secondary research assisted the development of the marketing strategy. The strategy was aimed at gaining a competitive advantage and maintaining a strong position within the industry. The plan included all elements that had to be considered when setting up a business. The financial forecasts highlight the feasibility of the business growing at a healthy rate over the first three years. The author feels that the aim and objectivities of this project were achieved, evidence is provided in the literature review, business plan, and marketing strategy.
BA Enterprise Project
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