• Mr Obafemi Akin-Laguda

• 21 – November – 2011

“Epitome Events is a event management service aggregation firm”

• Seeking loan facility to the tune of GHc50,000

The Events Management industry is on the rise in Ghana but still that firm that excels primarily in corporate or professional events management does not exist yet.

Epitome Events2

This void, of a “one-stop shop” for all event management needs of a professional event, will be filled by Epitome Events.

Our major market segments will be Corporate Clients, Government Departments and Parastatals, Professional organisations and Academic institutions.

Organisations that arrange events but do not have the expertise to adequately perform the task or do not wish to be bothered with this outsource the planning and management od their event.

Epitome Events3

A service provider who ensures that this service is provided to a high quality with efficient use of resources is required to that up this sort of jobs.

Most event managers in Ghana perform a wide array of services that the expertise to best manage high profile technical, professional or corporate event is lacking within the industry

An events management firm that caters to professional’s need for information, knowledge, tools and techniques by providing the perfect learning experience.

Epitome Events4

Major exceptions to the product package will the one-stop process of handling professional events with its significant cost savings.

HOW: Events management optimization through

strategic partnerships with both professional organisations and event subcontractors e.g. catering services, hotel chains, event venues et cetera

Epitome Events will provide a time-saving, valuable event planning services to companies who have a lack of expertise, are understaffed or unable to take on the time consuming tasks involved in event planning and management.

Epitome Events5

With partners in Ghana and Sub-region wide, the best fit for the clients' needs will be found while generating maximum revenue for Epitome Events.

• The majority of the demand will be from Corporate clients e.g. Banks and Telecom companies

Epitome Events6

• Followed by Government Department e.g. Ministries and Parastatals e.g. GCB

• Projected Sales for our 3rd fiscal year is stated conservatively at Gh₵567,500

• Professional Organisations e.g. IEEE and Academic Institutions like Pentecost University College will make up the rest of the market

There are six key elements we will accomplish to succeed:

Epitome Events7

Continual and diligent client and partner prospecting.

Provide timely, reliable, money-saving service option that best suit the needs of clients

Maximizing revenue potential by creating partnership and standard service contracts with industry players.

Utilize the unique expertise of a set specialist event management team members.

Maximize returns through service tariffs to clients and profit sharing with sub-contractors through commissions.

Create innovative events through partnerships with professional organization.

The market for event management firms is growing as companies are utilizing outside providers for event planning services instead of paying permanent in-house employees.

Epitome Events8

An aggregated event consultancy, planning and management company with partnership that provide expertise in diverse fields can provide an holistic service approach.

The key to our service packages is the high level of expertise brought about through our partnership and the resource savings that we can deliver.

Here are some reasons why certain companies are chosen over others:

Epitome Events9

Timely follow-up.

Leverage.

Objectivity.

Technical Knowledge.

Advocacy.

Integrity.

Intelligence.

Custom Solutions.

Personal Service.

There are three categories of competitors, all of which have distinct weaknesses compared to Epitome Events:

Epitome Events10

First, competition comes in the form of event planning houses such as Functions Ghana, Global Media Alliance and EMS. These companies provide a full array of services to the client but are so large that the clients are just numbers to them.

The second type of competitor is the hotel/resort representation firm. These companies only work with one or a few resorts/hotels, some of which may not fit the client's needs.

Small competitors, which are solely owned and operated by one individual, offer event planning and management to the client.

There are several competitive edges that Epitome Events has over its competitors.

Epitome Events11

First, Epitome Events has the freedom and ability to present any service provider as a solution to the customer.

Second, we can offer the services of a big company but are still small enough to offer great customer service.

Third, we have the ability to help with all aspects of the event; from planning to completion.

Fourth, our alliance with partners and sub-contractor allows us access to a wide array of experiences and expertise in various fields.

Overall, Epitome Events will offer the best of both worlds – small company service with big company expertise.

Within the target marketing segments the following situations may exist, creating a need for the services offered by Epitome Events:

Epitome Events12

Companies and organizations who have "downsized" and/or eliminated their event planning department are prime prospects.

Companies and organizations who have administrative staff take on the responsibilities of event planning will find that utilizing the services offered by Epitome Events to provide more professional outcomes.

Non-specialist planners who are searching a new area and have little or no knowledge about that area or segment.

Event planners that need to concentrate on internal meeting content and have little or no time to complete the time consuming task of planning and managing their events

The owners' 4 years of experience in the industry will bring a wealth of contacts with whom to build a network of referrals.

Epitome Events13

We will utilize the marketing materials that have been successful in the past .

Partnership marketing with hotels/resorts.

Web marketing e.g. Google AdSense

Social Networking e.g. Facebook, Twitter

Professional Networking e.g. LinkedIn

Newsletters and journals of our partners e.g. The IEEE Spectrum

Start-up Costs

Requirements

Start-up Expenses

Incorporation Fees Gh₵150

Accountant Gh₵300

Office Equipment Gh₵2,500

Software Gh₵350

Communication Lines 3 per office - 6 total Gh₵400

Event Directories Gh₵700

Other Gh₵400

Total Start-up Expenses Gh₵4,800

Start-up Assets

Cash Required Gh₵50,000

Other Current Assets Gh₵0

Long-term Assets Gh₵0

Total Assets Gh₵50,000

Total Requirements Gh₵54,800 Epitome Events14

Sales Forecast

Year 1 Year 2 Year 3

Sales

Meeting Management Gh₵162,160 Gh₵280,500 Gh₵459,500

Sub-Contractor Commissions Gh₵42,000 Gh₵72,000 Gh₵108,000

Total Sales Gh₵204,160 Gh₵352,500 Gh₵567,500

Direct Cost of Sales Year 1 Year 2 Year 3

Event Planning and Management Gh₵5,000 Gh₵7,000 Gh₵9,000

Subtotal Direct Cost of Sales Gh₵5,000 Gh₵7,000 Gh₵9,000

Epitome Events15

Pro Forma Profit and Loss

Year 1 Year 2 Year 3

Sales Gh₵204,160 Gh₵352,500 Gh₵567,500

Direct Cost of Sales Gh₵0 Gh₵0 Gh₵0

Other Gh₵0 Gh₵0 Gh₵0

Total Cost of Sales Gh₵0 Gh₵0 Gh₵0

Gross Margin Gh₵204,160 Gh₵352,500 Gh₵567,500

Gross Margin % 100.00% 100.00% 100.00%

Expenses

Payroll Gh₵60,000 Gh₵70,000 Gh₵86,400

Sales and Marketing and

Other ExpensesGh₵40,600 Gh₵30,800 Gh₵19,440

Depreciation Gh₵0 Gh₵0 Gh₵0

Sales Telephone Cost Gh₵5,808 Gh₵6,098 Gh₵6,403

Service Telephone Cost Gh₵1,800 Gh₵1,890 Gh₵1,985

Sales On-line Service Gh₵264 Gh₵264 Gh₵264

Service On-line Service Gh₵264 Gh₵264 Gh₵264

Payroll Taxes Gh₵0 Gh₵0 Gh₵0

Other Gh₵0 Gh₵0 Gh₵0

Total Operating Expenses Gh₵108,736 Gh₵109,316 Gh₵114,756

Profit Before Interest and

TaxesGh₵95,424 Gh₵243,184 Gh₵252,744

Interest Expense Gh₵19,084.80 Gh₵48,636.80 Gh₵50,548.80

Taxes Incurred Gh₵23,856 Gh₵60,796 Gh₵63,186

Net Profit Gh₵54,483.2 Gh₵133,751.20 Gh₵140,009.2

0

Net Profit/Sales 25.71% 37.94% 24.67% Epitome Events

16

Pro Forma Cash Flow

Year 1 Year 2 Year 3

Cash Received

Cash from Operations

Cash Sales Gh₵204,160 Gh₵352,500 Gh₵567,500

Subtotal Cash from Operations Gh₵204,160 Gh₵352,500 Gh₵567,500

Additional Cash Received

Sales Tax, VAT, HST/GST Received Gh₵0 Gh₵0 Gh₵0

New Current Borrowing Gh₵0 Gh₵0 Gh₵0

New Other Liabilities (interest-free) Gh₵0 Gh₵0 Gh₵0

New Long-term Liabilities Gh₵0 Gh₵0 Gh₵0

Sales of Other Current Assets Gh₵0 Gh₵0 Gh₵0

Sales of Long-term Assets Gh₵0 Gh₵0 Gh₵0

New Investment Received Gh₵0 Gh₵0 Gh₵0

Subtotal Cash Received Gh₵204,160 Gh₵352,500 Gh₵567,500

Expenditures Year 1 Year 2 Year 3

Expenditures from Operations

Cash Spending Gh₵96,000 Gh₵100,800 Gh₵105,840

Bill Payments Gh₵16,524 Gh₵26,506 Gh₵51,229

Subtotal Spent on Operations Gh₵112,524 Gh₵127,306 Gh₵157,069

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out Gh₵0 Gh₵0 Gh₵0

Principal Repayment of Current Borrowing Gh₵0 Gh₵0 Gh₵0

Other Liabilities Principal Repayment Gh₵0 Gh₵0 Gh₵0

Long-term Liabilities Principal Repayment Gh₵12,822 Gh₵12,822 Gh₵12,822

Purchase Other Current Assets Gh₵0 Gh₵0 Gh₵0

Purchase Long-term Assets Gh₵0 Gh₵0 Gh₵0

Dividends Gh₵0 Gh₵0 Gh₵0

Subtotal Cash Spent Gh₵125,346 Gh₵140,128 Gh₵169,891

Net Cash Flow Gh₵78,818 Gh₵212,372 Gh₵397,609

Cash Balance Gh₵128,814 Gh₵341,186 Gh₵738,795

Epitome Events17

Pro Forma Balance Sheet

Year 1 Year 2 Year 3

Assets

Current Assets

Cash Gh₵128,814 Gh₵341,186 Gh₵738,795

Other Current Assets Gh₵0 Gh₵0 Gh₵0

Total Current Assets Gh₵128,814 Gh₵341,186 Gh₵738,795

Long-term Assets

Long-term Assets Gh₵0 Gh₵0 Gh₵0

Accumulated Depreciation Gh₵0 Gh₵0 Gh₵0

Total Long-term Assets Gh₵0 Gh₵0 Gh₵0

Total Assets Gh₵128,814 Gh₵341,186 Gh₵738,795

Liabilities and Capital Year 1 Year 2 Year 3

Current Liabilities

Accounts Payable Gh₵2,361 Gh₵2,162 Gh₵4,394

Current Borrowing Gh₵0 Gh₵0 Gh₵0

Other Current Liabilities Gh₵0 Gh₵0 Gh₵0

Subtotal Current Liabilities Gh₵2,361 Gh₵2,162 Gh₵4,394

Long-term Liabilities Gh₵37,178 Gh₵24,356 Gh₵11,534

Total Liabilities Gh₵39,539 Gh₵26,518 Gh₵15,928

Paid-in Capital Gh₵4,800 Gh₵4,800 Gh₵4,800

Retained Earnings (Gh₵4,800) Gh₵731 Gh₵44,874

Earnings Gh₵54,483.20 Gh₵133,751.20 Gh₵140,009.20

Total Capital Gh₵54,483.20 Gh₵201,903.80 Gh₵549,111.80

Total Liabilities and Capital Gh₵128,814 Gh₵341,186 Gh₵738,795

Net Worth Gh₵54,483.20 Gh₵201,903.80 Gh₵549,111.80

Epitome Events18

Net Present Value Year 1 Year 2 Year 3

Income

Gh₵204,160

Gh₵352,500

Gh₵567,500

Expenditure

Gh₵108,736

Gh₵109,316

Gh₵114,756

Net Value

Gh₵95,424

Gh₵243,184

Gh₵252,744

Net Present Value Gh₵95,424 Gh₵218,865.60 Gh₵204,722.64

Epitome Events19

Obafemi Akin-Laguda is current Vice Chairman of an IEEE Ghana Section SB for last 2 years two year and personally lauded for the conception and organizing the PIRC 2011.

Epitome Events20

His education includes a bachelor of science in Information Technology and several certifications in Technology and Business.

He has also has been briefly employed at Femi Johnson & Sons ltd as Lead Project Analyst and Developer

HeteroGenious Systems Limited (HGSL) as a Project Developer.

Our other Founding owner wishes to remain anonymous at the present time.

Epitome Events is looking to secure a loan facility to the tune of Gh₵50,000 from your firm.

Epitome Events21

Looking at the figures from the last chapter, you’ll notice that we project that the facility will be payable from the end of the first fiscal year.

However, we hope that the loan facility will be available at an interest rate of not more than 20% annually over the next 3 years. This deal will, therefore, earn your firm a profit of over Gh₵30,000 in just 3 years.

Epitome Events will provide a time-saving, valuable event planning and management service to corporate, professional, government and academic institution who require the perfect event without any hassles!

Epitome Events22

“www.Epitome Events.org” will be online shortly.

Thank you for you time.

Any Questions?