Sample Business Plan For Event Venue Business Owners

sample event center business plan
 
A well-developed business plan is essential for any business owner looking to start or expand their venture. This article will provide a sample business plan for an event venue business following our proven event venue business plan format and including all necessary sections.

It is important to keep in mind that this sample should not be taken as gospel but rather used as a guide to help you create your own custom business plan tailored specifically to your event space.

 

Event Venue Example – Sunny Event Venue

Executive Summary

Business Overview

Sunny Event Venue is a full-service event venue located in the heart of the financial district of downtown Los Angeles. We offer our clients a unique and sophisticated setting for their events, complete with state-of-the-art audio/visual equipment and experienced event planners to ensure a successful event.

Products Served and Target Markets

Sunny Event Venue offers its clients a variety of event packages that can be customized to fit any budget or need. We specialize in weddings, corporate events, and social gatherings. Our target markets include the following:

  • Weddings: couples getting married, wedding planners, event coordinators
  • Corporate Events: small to medium-sized businesses, corporations, non-profit organizations
  • Social Gatherings: private parties, fundraisers, holiday parties

Industry Analysis

The event venue industry is growing at a steady rate as more and more people are seeking unique and special venues for their events. The industry is expected to grow by 3% in the next five years. Sunny Event Venue is well positioned to take advantage of this growth with our centrally located venue and experienced event planning staff.

Customer Focus

Sunny Event Venue prides itself on providing its clients with a one-of-a-kind event experience. We take the time to get to know our clients and their needs in order to provide them with a personalized event that meets all of their expectations.

Management Team

Sunny Event Venue is owned and operated by husband and wife team, John and Sarah Jones. John has over 10 years of experience in the event planning industry, while Sarah has a background in marketing and sales. Together, they bring a wealth of knowledge and experience to the business.

Success Factors

The success of Sunny Event Venue will be driven by the following factors:

  • Location: our venue is centrally located in downtown Los Angeles, making it easy for clients to get to
  • Experience: our event planners have over 10 years of experience in the industry and are experts at executing successful events
  • Customer Service: we pride ourselves on providing outstanding customer service and working closely with our clients to ensure their complete satisfaction

Financial Highlights

Sunny Event Venue is a profitable business that generated $1.2 million in revenue and $250,000 in net profit last year. We are projecting similar numbers for the next five years.

 

Company Overview

Who is Sunny Event Venue?

Sunny Event Venue is a full-service event center business located in the heart of downtown Los Angeles. We offer a variety of services to our clients, including event planning, catering, and decorating. We strive to provide our clients with a one-of-a-kind experience that they will remember for years to come.

Company History

Sunny Event Venue was founded in 2009 by entrepreneurs Sarah Jones and John Jones. We saw a need in the market for a full-service event venue that could provide its clients with a truly unique and memorable experience. Since then, we have been dedicated to providing our clients with the best possible service and creating lasting memories.

Mission Statement

Our mission is simple: to provide our clients with the best possible event planning experience from start to finish. We are dedicated to making your event planning process as easy and stress-free as possible so that you can enjoy your special day.

Products / Services

At Sunny Event Venue, we offer a variety of services to our clients, including event planning, catering, and decorating. We also offer a wide range of event packages that can be customized to meet your specific needs. No matter what type of event you are planning, we will work with you to create a package that is perfect for you.

 

Industry Analysis

The event venue industry is growing at a steady rate as more and more people are seeking unique and special venues for their events including weddings, corporate functions, and private parties. The industry is expected to grow by 3% in the next five years.

Sunny Event Venue is well positioned to take advantage of this growth with our centrally located venue and experienced event planning staff. We can handle the local demand as well as the growing demand from out-of-town clients who are looking for a unique and special event venue.

 

Customer Analysis

Sunny Event Venue’s typical customer is a bride-to-be who is looking for a unique and special venue for her wedding. We also have a strong corporate and private party business. Our customers come from all over the Los Angeles area, as well as from out of town.

Demographics:

Local Clients:
  • Location: Los Angeles, CA
  • Age: 25-40
  • Income: $50,000-$100,000
Out of Town Clients:
  • Location: all over the US
  • Age: 25-40
  • Income: $50,000-$100,000

Service Segmentation:

  • Weddings: 50%
  • Corporate Events: 30%
  • Private Parties: 20%

 

Competitive Analysis

Sunny Event Venue has several competitors in the Los Angeles area, but we are the only full-service event venue in downtown Los Angeles. We believe that our central location, experienced event planners, and outstanding customer service set us apart from our competitors and give us a competitive advantage.

Direct Competitors:

The Wedding Chapel

The Wedding Chapel is a full-service event venue that offers a variety of services to its clients, including event planning, catering, and decorating. They strive to provide their clients with a unique and memorable experience that they will remember for years to come.

The Wedding Chapel is Sunny Event Venue’s biggest competitor. They are located in the Los Angeles area and offer a similar range of services. The Wedding Chapel has been in business for 10 years and has a strong reputation in the industry.

The Ritz Carlton

The Ritz Carlton is a luxury hotel that offers a variety of services to its guests, including event planning, catering, and decorating. They strive to provide their guests with a truly unique and memorable experience.

The Ritz Carlton is Sunny Event Venue’s most direct competitor. They are located in the Los Angeles area and offer a similar range of services. The Ritz Carlton has been in business for over 20 years and is a well-known and respected brand in the industry.

The Beverly Hills Hotel

The Beverly Hills Hotel is a luxury hotel that offers a variety of services to its guests, including event planning, catering, and decorating. They strive to provide their guests with a truly unique and memorable experience.

The Beverly Hills Hotel is another direct competitor of Sunny Event Venue. They are located in the Los Angeles area and offer a similar range of services. The Beverly Hills Hotel has been in business for over 30 years and is a well-known and respected brand in the industry.

Indirect Competitors:

Local Venues:

There are many local event venues in the Los Angeles area that offer a variety of services to their clients, including event planning, catering, and decorating. Some of these venues include:

  • The Los Angeles Convention Center
  • Staples Center
  • Hollywood Bowl
Hotels:

There are many hotels in the Los Angeles area that offer a variety of services to their guests, including event planning, catering, and decorating. Some of these hotels include:

  • The Beverly Hilton
  • The Four Seasons
  • The Peninsula
Restaurants:

There are many restaurants in the Los Angeles area that offer a variety of services to their clients, including event planning, catering, and decorating. Some of these restaurants include:

  • Sugarfish
  • Nobu
  • Spago

 

Marketing Plan

The Sunny Event Venue Brand

Our brand is all about luxury, elegance, and creating unforgettable experiences. We want our clients to feel like they are the only ones that matter when they are working with us. We strive to provide our clients with top-notch customer service and attention to detail.

Our logo is a simple sunburst design that conveys the message of warmth, happiness, and positivity. Our brand colors are gold and white, which represent luxury and sophistication.

Mission Statement

The Sunny Event Venue’s mission is to provide our clients with the most memorable event experience possible. We will work tirelessly to make sure that every detail is perfect and that your event is one that you and your guests will remember for years to come.

Vision Statement

The Sunny Event Venue vision is to be the premier event venue in the Los Angeles area. We will achieve this by providing our clients with the highest level of customer service and attention to detail.

Marketing Goals

The Sunny Event Venue marketing team has set the following goals for the upcoming year:

  • Increase brand awareness by 20%
  • Generate 30 new leads per month
  • Convert 10% of leads into sales
  • Increase website traffic by 25%
  • Increase social media followers by 10%

Marketing Strategies

To reach our marketing goals, we will focus on the following strategies:

  • Develop a strong online presence: We will create a strong online presence by developing a well-optimized website and active social media accounts. We will create informative and engaging content that will showcase our venue and what we have to offer.
  • Advertise in local publications: We will place ads in local publications that target potential clients in the Los Angeles area.
  • Participate in local events: We will participate in local events, such as bridal shows, that will allow us to meet potential clients and market our venue directly to them.
  • Develop relationships with local vendors: We will develop relationships with local vendors, such as florists, caterers, and photographers. This will allow us to provide our clients with a one-stop shop for their event planning needs.
  • Provide discounts and promotions: We will provide discounts and promotions on our services to encourage potential clients to book our venue.

 

Operations Plan

The Sunny Event Venue will be open for business 7 days a week, from 9 am to 5 pm. We will be closed on major holidays.

Our venue can accommodate up to 200 guests for seated events and up to 300 guests for standing events. We have a variety of event spaces that can be used for weddings, corporate events, holiday parties, and more.

We will have a team of 4 event planners on staff who will work with clients to plan their perfect event. Our event planners are experienced and knowledgeable about the industry and will work tirelessly to make sure that your event is everything you’ve ever dreamed of.

In addition to our event planners, we will have a team of 4 customer service representatives who will be available to answer any questions you may have about our venue or services. Our customer service team is friendly and efficient, and they will do everything they can to make sure that you are satisfied with our services.

We will have two event spaces available for rent:

  • The Grand Ballroom: This 5,000-square-foot space can accommodate up to 500 guests and features a stage, a dance floor, and a built-in bar.
  • The Garden: This 3,000-square-foot space can accommodate up to 300 guests and features a beautiful garden setting with a gazebo.

Milestones

The Sunny Event Venue has set the following milestones for the next year:

  • Book 10 events
  • Generate $100,000 in revenue
  • Hire 2 additional event planners
  • Launch a new website

 

Management Team

The Sunny Event Venue management team is comprised of experienced event professionals who are passionate about making your event a success.

 

Our team includes:

CEO – Sarah Jones

Sarah is the founder and owner of The Sunny Event Venue. She has over 10 years of experience in the event planning industry and has planned events for clients all over the world. Sarah is a certified event planner and has a bachelor’s degree in business administration.

CFO – John Doe

John is the chief financial officer of The Sunny Event Venue. He has over 15 years of experience in the finance industry and has a deep understanding of event planning finances. John is a certified public accountant and has a bachelor’s degree in accounting.

Director of Sales – Jane Smith

Jane is the director of sales for The Sunny Event Venue. She has over 8 years of experience in sales and marketing, and she has a deep understanding of the event industry. Jane is a certified event planner and has a bachelor’s degree in marketing.

Director of Operations – Tom Cruz

Tom is the director of operations for The Sunny Event Venue. He has over 20 years of experience in the hospitality industry and has a deep understanding of event planning and operations. Tom is a certified event planner and has a bachelor’s degree in hospitality management.

 

Financial Plan

The Sunny Event Venue is a for-profit company and our financial goal is to generate a profit of $50,000 in our first year of operation.

To achieve this goal, we will need to generate $500,000 in revenue. We expect that 50% of our revenue will come from event rental fees and the other 50% will come from food and beverage sales.

Our operating expenses for the first year of business are projected to be $450,000. This includes $200,000 for salaries and wages, $100,000 for rent, $50,000 for marketing and advertising, $50,000 for repairs and maintenance, and $50,000 for miscellaneous expenses.

We have secured $250,000 in funding from private investors and we will use this money to cover our start-up costs. We are confident that we will be able to generate the revenue needed to make a profit and pay back our investors within the first year of operation.

 

Appendix

The appendix of our business plan includes our financial statements, resumes of our management team, and copies of our lease agreements.

 

Conclusion

With this event venue business plan example, you can see that there is a lot of work that goes into planning and launching a successful event venue business. However, if you have a clear plan and an experienced team in place, you will be able to achieve your goals and make your event venue a success.

 

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