Business Type
Showeve.Com will be a business of online booking system that will be developed to help its consumers to find and hire services of live entertainment for the corporate events, weddings, nightclubs, private parties, grand openings and certain other events. Gradually, this business will expand its service offerings to include certain other entertainment services like comedians, caterers, dancers and photographers.
From the market research it has been evident that in Australia more than AUD $9 billion is invested in the music and entertainment services within various events each year. There are more than 14000 traditional or offline event booking agents in Australia and many of them have websites offer services of booking online services. These agents are observed to generally focus on high-end bookings and ignoring the broad market of consumers looking for quick and easy personalized event services. Considering such research problem, the business of Showeve.Com will offer quick and personalized online booking services for events all over Australia through its active website.
The business name selected for this event service website is Showeve.Com that will use the internet ability advantage for organizing and connecting fragmented marketplace for entertainers and musicians within a searchable database which will be consumer-focused and simple to use. Considering such research problem, the business of Showeve.Com will offer quick and personalized online booking services for events all over Australia through its active website. To make consumers event services booking easy, this new business will operate through a highly active and organized event service booking website that will facilitate its consumers to find quality entertainment services for any event they are having.
The business of Showeve.Com will offer with services of personalized press kits matching to the events they are having that will include biography and full description, color photos, audio and video samples, client testimonials, song lists, rates and prices, instrumentation and musical genre. Moreover, other services includes certain other entertainment services like comedians, caterers, dancers and photographers for live entertainment in the corporate events, weddings, nightclubs, private parties, grand openings and certain other events. Other revenue streams or services will include booking commissions, corporate sponsorships and merchant services. The consumers can type their ZIP Code with the type of event and entertainment services they are seeking and the company will offer services of providing audio samples, watches video, reads biographies, and views client testimonials from which they can select the services they prefer.
The services and the target market segment plan will be developed by this new business based on the The target consumer segments of the new business of Showeve.Com are mentioned below:
- Weddings
- Corporate Events/Conventions
- Nightclubs/Bars/Restaurants
- Bar/Bat Mitzvahs
- Festivals
- Vacation & Resort Entertainment
- Fraternity/Sorority Dances & Parties
- High School Proms/Dances
- Country Club Entertainment
- Hotel Entertainment
The vision statement of Showeve.Com will be to attain favorable positioning itself as a renowned event service website in Australia through offering exceptional and personalized event entertainment services all over Australia.
The goals and objects that are set for the business of Showeve.Com in attaining competitive and profitable position in the industry are explained under:
- To increase the number of visits to website by its target consumers by 10% at the end of first year of its business operation through search engine optimization
- To offer customized packages to the target consumers based on their event needs through constant innovation and creativity
- To increase profits generated from the revenue streams by 6% at the end of first year of business operation through offering quality services through all its revenue streams
|
Startup Expenses |
|
|
Buildings / Real Estate |
|
|
Purchase |
$ 40,000 |
|
Construction |
10,000 |
|
Remodeling |
– |
|
Other |
500 |
|
Total Buildings and R / E |
$ 50,500 |
|
Leasehold Improvements |
|
|
Online bidding system |
$ 5,500 |
|
Live music shows |
$ 5,500 |
|
Online press kits |
$ 5,500 |
|
Newsletters |
$ 5,500 |
|
Catering and photography |
$ 22,000 |
|
Capital Equipment List |
|
|
Furniture |
$ 55,000 |
|
Equipment |
$ 1,500 |
|
Fixtures |
$ 1,500 |
|
Machinery |
$ 6,500 |
|
Other |
$ 2,500 |
|
Total Capital Equipment |
$ 67,000 |
|
Location and Admin Expenses |
|
|
Rental |
$ – |
|
Utility Deposits |
5,500 |
|
Legal and Accounting Fees |
4,500 |
|
Prepaid Insurance |
55,000 |
|
Pre-opening Salaries |
5,500 |
|
Other |
5,500 |
|
Total Location and Admin Expenses |
$ 76,000 |
|
Opening Inventory |
|
|
Online bidding system |
$ 2,560 |
|
Live music shows |
$ 2,560 |
|
Online press kits |
$ 2,560 |
|
Newsletters |
$ 2,560 |
|
Catering and photography |
$ 2,560 |
|
Total Inventory |
$ 12,800 |
|
Advertising and Promotional Expenses |
|
|
Advertising |
$ 1,500 |
|
Signage |
$ 1,500 |
|
Printing |
$ 1,500 |
|
Travel & Entertainment |
$ 1,500 |
|
Other / Additional categories |
– |
|
Total Adv and Promo expenses |
$ 6,000 |
|
Payroll and payroll taxes |
|
|
Expense 1 |
$ 25,000 |
|
Expense 2 |
25,000 |
|
Total Payroll and payroll taxes |
$ 50,000 |
|
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|||
|
Gross revenue |
$80,000 |
$200,000 |
$300,000 |
$400,000 |
$500,000 |
||
|
Cost of goods sold |
$0 |
$0 |
$0 |
$0 |
$0 |
||
|
Gross margin |
$80,000 |
$200,000 |
$300,000 |
$400,000 |
$500,000 |
||
|
Other revenue [source] |
$21,000 |
$22,000 |
$23,000 |
$24,000 |
$25,000 |
||
|
Interest income |
$8,000 |
$7,000 |
$6,000 |
$5,000 |
$4,000 |
||
|
Total revenue |
$109,000 |
$229,000 |
$329,000 |
$429,000 |
$529,000 |
||
|
Operating expenses |
|||||||
|
Sales and marketing |
$6,000 |
$6,120 |
$6,365 |
$6,747 |
$7,286 |
||
|
Payroll and payroll taxes |
$50,000 |
$51,000 |
$53,040 |
$56,222 |
$60,720 |
||
|
Depreciation |
$27,900 |
$28,458 |
$29,016 |
$29,574 |
$30,132 |
||
|
Maintenance, repair, and overhaul |
$0 |
$0 |
$0 |
$0 |
$0 |
||
|
Total operating expenses |
$83,900 |
$85,578 |
$88,421 |
$92,543 |
$98,139 |
||
|
Operating income |
$25,100 |
$143,422 |
$240,579 |
$336,457 |
$430,861 |
||
|
Interest expense on long-term debt |
$1,500 |
$1,545 |
$1,591 |
$1,639 |
$1,688 |
||
|
Operating income before other items |
$23,600 |
$141,877 |
$238,988 |
$334,818 |
$429,173 |
||
|
Loss (gain) on sale of assets |
$330 |
$320 |
$310 |
$300 |
$290 |
||
|
Other unusual expenses (income) |
$0 |
$0 |
$0 |
$0 |
$0 |
||
|
Earnings before taxes |
$23,930 |
$142,197 |
$239,298 |
$335,118 |
$429,463 |
||
|
Taxes on income |
30% |
$7,179 |
$42,659 |
$71,789 |
$100,535 |
$128,839 |
|
|
Net income (loss) |
$16,751 |
$99,538 |
$167,508 |
$234,582 |
$300,624 |
|
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
Total |
||
|
Operating activities |
|||||||
|
Net income |
$30,000 |
$40,000 |
$50,000 |
$60,000 |
$70,000 |
$80,000 |
|
|
Depreciation |
$27,900 |
$28,458 |
$29,016 |
$29,574 |
$30,132 |
$145,080 |
|
|
Accounts receivable |
($76,000) |
$44,000 |
($13,000) |
($13,000) |
($13,000) |
($71,000) |
|
|
Inventories |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
|
|
Accounts payable |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
|
|
Amortization |
5,000 |
5,000 |
$5,000 |
$5,000 |
$5,000 |
$25,000 |
|
|
Other liabilities |
25,000 |
25,000 |
$25,000 |
$25,000 |
$25,000 |
$125,000 |
|
|
Other operating cash flow items |
0 |
0 |
$0 |
$0 |
$0 |
$0 |
|
|
Total operating activities |
$11,900 |
$142,458 |
$96,016 |
$106,574 |
$117,132 |
$474,080 |
|
|
$0 |
|||||||
|
Investing activities |
$0 |
||||||
|
Capital expenditures |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
|
|
Acquisition of business |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
$75,000 |
|
|
Sale of fixed assets |
$10,000 |
$10,000 |
$10,000 |
$10,000 |
$10,000 |
$50,000 |
|
|
Other investing cash flow items |
0 |
0 |
0 |
0 |
0 |
$0 |
|
|
Total investing activities |
$25,000 |
$25,000 |
$25,000 |
$25,000 |
$25,000 |
$125,000 |
|
|
Financing activities |
|||||||
|
Long-term debt/financing |
($43,500) |
$1,545 |
$1,591 |
$1,639 |
$1,688 |
($37,036) |
|
|
Preferred stock |
0 |
0 |
0 |
0 |
0 |
0 |
|
|
Total cash dividends paid |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
25,000 |
|
|
Common stock |
0 |
0 |
0 |
0 |
0 |
0 |
|
|
Other financing cash flow items |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
25,000 |
|
|
Total financing activities |
($33,500) |
$11,545 |
$11,591 |
$11,639 |
$11,688 |
$12,964 |
|
|
Cumulative cash flow |
$3,400 |
$179,003 |
$132,607 |
$143,213 |
$153,820 |
$612,044 |
|
|
Beginning cash balance |
$0 |
$3,400 |
$182,403 |
$315,010 |
$458,223 |
||
|
Ending cash balance |
$3,400 |
$182,403 |
$315,010 |
$458,223 |
$612,044 |
References
Burns, P. & Dewhurst, J. eds., (2016). Small business and entrepreneurship. Macmillan International Higher Education.
Chambers, I. & Humble, J., (2017). Plan for the planet: a business plan for a sustainable world. Routledge.
Evans, (2016). Financial Times Essential Guides: Writing a Business Plan. Harlow: Pearson.
Hopp, C. & Greene, F.J., (2018). In Pursuit of Time: Business Plan Sequencing, Duration and Intraentrainment Effects on New Venture Viability. Journal of Management Studies, 55(2), 320-351.
Hopp, C., Greene, F.J., Honig, B., Karlsson, T. & Samuelsson, M., (2018). Revisiting the influence of institutional forces on the written business plan: a replication study. Management Review Quarterly, 1-38.
McKeever, M., (2016). How to write a business plan. Nolo.
Nicolò, D. & Ferrara, N., (2015). Corporate reputation, business plan and start-up sustainability,[in:] Nicolò D.(Ed.) Startups and start-up ecosystems: theories, models and case studies in the Mediterranean area.
Nutting, M.A., (2018). The Business of Personal Training. Human Kinetics.
Qureshi, M.S., Saeed, S. & Wasti, S.W.M., (2016). The impact of various entrepreneurial interventions during the business plan competition on the entrepreneur identity aspirations of participants. Journal of Global Entrepreneurship Research, 6(1), 9.
Schaper, M.T., Volery, T., Weber, P.C. & Gibson, B., (2014). Entrepreneurship and small business.
Simón-Moya, V. & Revuelto-Taboada, L.,(2016). Revising the predictive capability of business plan quality for new firm survival using qualitative comparative analysis. Journal of Business Research, 69(4), 1351-1356.
Smith, K., (2018). Ouachita seniors win second place and Dr. Chris Brune honored at Arkansas Governor’s Cup Business Plan Competition.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
