AN EVALUATION OF THE FEASIBILITY OF SETTING UP AN EVENT INTERIOR SPECIALIST BUSINESS IN CARDIFF
Cardiff Metropolitan University
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This enterprise project aim is to critically evaluate the feasibility of setting up an event interior specialist company based in Cardiff. The concept of the venture is to offer those putting on events the ability to hire professional and affordable products to create spectacular events. The name of the proposed business is “Wish Events Ltd” and will operate as a limited company. The business proposal was created when studying for a BA (Hons) Events Management degree at Cardiff Metropolitan University, carrying out various types of events and business work experience. Secondary research was undertaken in the form of a literature review on; the events industry, the corporate and wedding events industry, business start-up, entrepreneurship, technology influences, consumer spending habits, location, competitor industry, and economic impacts. Primary research was also conducted in the form of 50 questionnaires distributed to potential customers and interviews to potential customers, venues and suppliers. The research provided evidence that 92% of participants thought that the business would be beneficial to them. Both primary and secondary research contributed to decisions made within the business plan. Having an understanding of who the target market is from the market research stage. This allowed a detailed marketing plan to be constructed. The strategy was created to ensure cost effective aspects were considered and establishment of the business for a stable market position. The financial forecasts portray the feasibility of setting up the business, highlighting the positively projected income and net profit across the first three years of trading. The author believes that all aims and objectives originally set of the project were successfully achieved, evidence of this is stated within the literature review, business plan and financial forecasts.
BA (HONS) EVENTS MANAGEMENT
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