An Evaluation of the Feasibility of Starting a Wedding Planning Service in Cheltenham, Gloucestershire.

Abstract

The aim of the project is to assess the existing wedding planning industry, whilst evaluating the feasibility of starting a wedding planning service in Cheltenham, Gloucestershire. Firstly, the author composed a literature review which details accurate, up to date information on the current wedding planning industry. Thus the literature review creates a base of knowledge to help support and develop the business. A SWOT and PESTEL analysis is conducted within the project to gain awareness of and acknowledge the impact of the external environment on the business. Thirdly, all the information is gathered and presented in the form of a business plan. The business plan presents a thorough analysis and justification of all the key components of starting and running a business such as: marketing, legalities and financial. The results of the business plan are discussed, and conclusions and recommendations are drawn as to how the business should progress To assist in assessing the feasibility of the project, the author completed the following objectives: 1. To compose a literature review and assess the relevant literature surrounding the wedding industry. 2. To carry out primary and secondary research to determine the target customer and if there is a demand for the service. 3. To assess the external environment using SWOT and PESTLE. 4. To present a business plan and three year financial projections. 5. To conclude on the feasibility of the business and recommend actions for the future. The completion of the objectives permitted the author to verify is the business is feasible. The author will determine the feasibility of the business in the project conclusion.