I. Executive Summary
This Section's Contents
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Business Overview
[Company Name] is a new banquet hall located in the heart of downtown [Location]. Our grand hall is the perfect venue for anyone needing a luxurious, modern, and elegant setting for their wedding reception, party, or other formal gathering. Our hall features a spacious floor plan with high ceilings and floor-to-ceiling windows, creating a light and airy atmosphere. The elegant decor is perfect for any occasion, and our state-of-the-art sound and lighting systems will ensure that our clients’ events are always a success. We also have a full kitchen on-site, so our clients can rest assured knowing that their guests will be well-fed. We are committed to providing our clients with the best possible service, and we will work with them to create a truly unforgettable event.
Products Served
[Company Name] provides an enormous grand hall that will host weddings, parties, and other extravagant events. Our grand hall can accommodate up to 200 guests and features a state-of-the-art sound system, multiple outlets, and a full kitchen for catering services. We also offer ample parking, an outdoor patio, and the best customer service in the industry.
Customer Focus
[Company Name] will primarily serve businesses, organizations, and wealthy individuals within the [Location] area who are looking for a banquet hall for their formal events. We will primarily target individuals who are hosting wedding receptions, formal parties, and other gatherings.
The demographics of the area are as follows:
- 204,184 residents
- Average income of $81,000
- 35% married
- 42% in Mgt./Professional occupations
- Median age: 35 years
Management Team
[Company Name] is led by [Founder’s Name]. [Founder’s Name] graduated from the [University] where he majored in Business Management. After graduating, he enjoyed a successful career in the event management industry, managing various banquet halls and other venues. While [Founder’s Name] has never run his own banquet hall before, his experience has provided him with in-depth knowledge of the operations and the management (e.g., scheduling, organizing, marketing, etc.) sides of running a banquet hall.
Success Factors
[Company Name] is uniquely qualified to succeed due to the following reasons:
- There are very few luxury banquet halls in the community we are entering. In addition, we have surveyed the local market and found that our hall is in high demand.
- Our location is central to the downtown, airport, and corporate district of the city.
- The management team has a track record of success in the event management industry.
Financial Highlights
[Company Name] is seeking a total funding of $1,000,000 to launch the event venue. The capital will be used for funding capital expenditures, manpower costs, marketing expenses, and working capital. Specifically, these funds will be used as follows:
- Banquet hall design/build: $500,000
- Equipment and supplies: $200,000
- Working capital: approximately $300,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even
Top line projections over the next five years are as follows:
| Financial Summary | FY 1 | FY 2 | FY 3 | FY 4 | FY 5 |
|---|---|---|---|---|---|
| Revenue | $560,401 | $782,152 | $1,069,331 | $1,379,434 | $1,699,644 |
| Total Expenses | $328,233 | $391,429 | $552,149 | $696,577 | $776,687 |
| EBITDA | $232,168 | $390,722 | $517,182 | $682,858 | $922,956 |
| Depreciation | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 |
| EBIT | $225,168 | $383,722 | $510,182 | $675,858 | $915,956 |
| Interest | $6,016 | $5,264 | $4,512 | $3,760 | $3,008 |
| Pre Tax Income | $219,152 | $378,458 | $505,670 | $672,098 | $912,948 |
| Income Tax Expense | $76,703 | $132,460 | $176,985 | $235,234 | $319,532 |
| Net Income | $142,449 | $245,998 | $328,686 | $436,864 | $593,416 |
| Net Profit Margin | 25% | 31% | 31% | 32% | 35% |
