A business plan presentation i prepared in 2011 for a Young Entrepreneur Competition back in Ghana. I learned a lot especially about Financial planning and projections during this process and was my first complete business plan. It is, of course, far from perfect but i think it will assist any young entrepreneur in preparing that first presentation. Obviously you should try and use less structured language and ease in models and pictures. I would suggest you look through some presentations on how to make presentations...Yeah, i said that. Anyway, the competition fell through but the organizers were impressed with it and i hope you are too.
- 1. Mr Obafemi Akin-Laguda 21 November 2011Epitome Events is a event management service aggregation firm Seeking loan facility to the tune of GHc50,000
2. 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. 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. Epitome Events 2 3. 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. 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 Epitome Events 3 4. An events management firm that caters to professionals need for information, knowledge, tools and techniques by providing the perfect learning experience. 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 4 5. Epitome Events will provide a timesaving, 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. With partners in Ghana and Subregion wide, the best fit for the clients' needs will be found while generating maximum revenue for Epitome Events.Epitome Events 5 6. The majority of the demand will be from Corporate clients e.g. Banks and Telecom companies Followed by Government Department e.g. Ministries and Parastatals e.g. GCB Professional Organisations e.g. IEEE and Academic Institutions like Pentecost University College will make up the rest of the market Projected Sales for our 3rd fiscal year is stated conservatively at Gh567,500 Epitome Events 6 7. There are six key elements we will accomplish to succeed: 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. Epitome Events 7 8. 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. 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. Epitome Events 8 9. Here are some reasons why certain companies are chosen over others: Timely follow-up. Leverage. Objectivity. Technical Knowledge. Advocacy. Integrity. Intelligence. Custom Solutions. Personal Service. Epitome Events 9 10. There are three categories of competitors, all of which have distinct weaknesses compared to Epitome Events: 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. Epitome Events 10 11. There are several competitive edges that Epitome Events has over its competitors. 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.Epitome Events 11 12. Within the target marketing segments the following situations may exist, creating a need for the services offered by Epitome Events: 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 Epitome Events 12 13. The owners' 4 years of experience in the industry will bring a wealth of contacts with whom to build a network of referrals. 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 SpectrumEpitome Events 13 14. Start-up CostsRequirementsStart-up Expenses Incorporation FeesGh 150AccountantGh 300Office EquipmentGh 2,500SoftwareGh 350Communication Lines 3 per office - 6 totalGh 400Event DirectoriesGh 700OtherGh 400Total Start-up ExpensesGh 4,800Start-up Assets Cash RequiredGh 50,000Other Current AssetsGh 0Long-term AssetsGh 0Total AssetsGh 50,000Total RequirementsGh 54,800Epitome Events 14 15. Sales Forecast Year 1Year 2Year 3Gh 162,160Gh 280,500Gh 459,500Gh 42,000Gh 72,000Gh 108,000Gh 204,160Gh 352,500Gh 567,500Year 1Year 2Year 3Event Planning and ManagementGh 5,000Gh 7,000Gh 9,000Subtotal Direct Cost of SalesGh 5,000Gh 7,000Gh 9,000Sales Meeting ManagementSub-Contractor CommissionsTotal SalesDirect Cost of SalesEpitome Events 15 16. Pro Forma Profit and Loss Year 1Year 2Year 3Gh 204,160Gh 352,500Gh 567,500Direct Cost of SalesGh 0Gh 0Gh 0OtherGh 0Gh 0Gh 0Total Cost of SalesGh 0Gh 0Gh 0Gh 204,160Gh 352,500Gh 567,500100.00%100.00%100.00%PayrollGh 60,000Gh 70,000Gh 86,400Sales and Marketing and Other ExpensesGh 40,600Gh 30,800Gh 19,440SalesGross Margin Gross Margin %ExpensesDepreciationGh 0Gh 0Gh 0Sales Telephone CostGh 5,808Gh 6,098Gh 6,403Service Telephone CostGh 1,800Gh 1,890Gh 1,985Sales On-line ServiceGh 264Gh 264Gh 264Service On-line ServiceGh 264Gh 264Gh 264Payroll TaxesGh 0Gh 0Gh 0OtherGh 0Gh 0Gh 0Total Operating ExpensesGh 108,736Gh 109,316Gh 114,756Profit Before Interest and TaxesGh 95,424Gh 243,184Gh 252,744Interest ExpenseTaxes IncurredNet Profit Net Profit/SalesGh 19,084.80Gh 23,856Gh 48,636.80 Gh 50,548.80Gh 60,796Gh 63,186Gh 54,483.2 Gh 133,751.20Gh 140,009.2 025.71%37.94%24.67%Epitome Events 16 17. Pro Forma Cash Flow Year 1Year 2Year 3Cash SalesGh 204,160Gh3 52,500Gh 567,500Subtotal Cash from OperationsGh 204,160Gh3 52,500Gh 567,500Sales Tax, VAT, HST/GST ReceivedGh 0Gh 0Gh 0New Current BorrowingGh 0Gh 0Gh 0New Other Liabilities (interest-free)Gh 0Gh 0Gh 0New Long-term LiabilitiesGh 0Gh 0Gh 0Sales of Other Current AssetsGh 0Gh 0Gh 0Sales of Long-term AssetsGh 0Gh 0Gh 0New Investment ReceivedGh 0Gh 0Gh 0Gh 204,160Gh3 52,500Gh 567,500Year 1Year 2Year 3Cash SpendingGh 96,000Gh 100,800Gh 105,840Bill PaymentsGh 16,524Gh 26,506Gh 51,229Gh 112,524Gh 127,306Gh 157,069Sales Tax, VAT, HST/GST Paid OutGh 0Gh 0Gh 0Principal Repayment of Current BorrowingGh 0Gh 0Gh 0Other Liabilities Principal RepaymentGh 0Gh 0Gh 0Gh 12,822Gh 12,822Gh 12,822Purchase Other Current AssetsGh 0Gh 0Gh 0Purchase Long-term AssetsGh 0Gh 0Gh 0DividendsGh 0Gh 0Gh 0Gh 125,346Gh 140,128Gh 169,891Net Cash FlowGh 78,818Gh 212,372Gh 397,609Cash BalanceGh 128,814Gh 341,186Gh738,795Cash Received Cash from OperationsAdditional Cash ReceivedSubtotal Cash Received ExpendituresExpenditures from OperationsSubtotal Spent on OperationsAdditional Cash SpentLong-term Liabilities Principal RepaymentSubtotal Cash SpentEpitome Events 17 18. Pro Forma Balance Sheet Year 1Year 2Year 3Gh 128,814Gh 341,186Gh 0Gh 0Gh 128,814Gh 341,186Long-term AssetsGh 0Gh 0Gh 0Accumulated DepreciationGh 0Gh 0Gh 0Assets Current Assets Cash Other Current Assets Total Current AssetsGh738,795 Gh 0 Gh738,795Long-term AssetsTotal Long-term AssetsGh 0Gh 0Gh 128,814Gh 341,186Year 1Year 2Year 3Accounts PayableGh 2,361Gh 2,162Gh 4,394Current BorrowingGh 0Gh 0Gh 0Other Current LiabilitiesGh 0Gh 0Gh 0Gh 2,361Gh 2,162Gh 4,394Long-term LiabilitiesGh 37,178Gh 24,356Gh 11,534Total LiabilitiesGh 39,539Gh 26,518Gh 15,928Total AssetsLiabilities and CapitalGh 0 Gh738,795Current LiabilitiesSubtotal Current LiabilitiesPaid-in CapitalGh 4,800Gh 4,800Gh 4,800(Gh 4,800)Gh 731Gh 44,874EarningsGh 54,483.20Gh 133,751.20Gh 140,0