An evaluation of the feasibility of setting up an event theming and décor hire business in Cardiff, specialising in weddings, parties and corporate events
Cardiff Metropolitan University
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The project aim is to critically assess and evaluate the feasibility of setting up an event theme and décor hire company based in Cardiff, specialising in weddings, parties and corporate events. The proposed idea is to offer a professional and affordable service of hiring equipment and décor items to enhance the appearance of events. Comprehensive research was undertaken in the form of current and reliable literature on Entrepreneurship, starting a business, wedding industry, corporate event industry and the current economic trends. Primary research was then conducted via a telephone interview with the director of a competitor company and through two online questionnaires. The market research provided evidence that 80-96%of participants would pay between £750 and £1000 for event décor items such as chair covers, centrepieces, table runners and dance floors. The business proposal was created from the academic knowledge gained whilst studying for a BA (Hons) Event Management degree at Cardiff Metropolitan University. Previous work experience within the event industry also assisted with constructing this proposal. The research results allowed a detailed marketing plan to be constructed, the strategy was devised to create cost effective methods to target the market, as well as devising tactics to put the business in a stable market position. The financial forecasts highlight the feasibility of the business being in a stable position from years one to three and show the business expanding at a healthy rate over this period. The author feels the aims and objectives of the project were successfully achieved, evidence is provided through the literature review, business plan, marketing strategy and financial statements.
B.A. (Hons.) Events Management
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