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A Feasibility Study Of the Likelihood Of Opening Up KLH Wedding Co-ordinators.

Extracts from this document...

Introduction

A Feasibility Study Of the Likelihood Of Opening Up KLH Wedding Co-ordinators I decided to go for a type of business that I believe is up and coming, and so not many people have yet thought to use as a business. My idea is to make a business based on planning weddings. I believe wedding planners are becoming exceedingly more popular in the modern day due to a number of reasons, the main ones being that working women are having less and less time to spend planning their wedding due to the increasing pull of equal rights for women in work and their work hours. Working full time is leaving women (and men) with little time to plan their weddings compared to what they used to have when most women were housewives or only part - time workers. I also believe this business will be popular due to the continuous increase in disposable income. I have found 60 businesses on www.yell.com that claim to be wedding planning services, however 60 over such a large country is not many, therefore I decided to make my business a wedding planning service. I also found that of the 60 wedding planning services, less than half of the businesses were based on just wedding planning, most also planned functions like birthday parties and other such gatherings. Therefore, my business is servicing a niche market as there are only 3 other similar businesses in Chorley and they do not specify in weddings, just general planning. I wanted my business to be seen as a classy, elegant and professional service, therefore this must be reflected in the name of the business. ...read more.

Middle

No ? was better than you doing it yourself? 4. If you were to get married, would you think about getting someone to plan Yes ? No ? your wedding for you? 5. In accordance to the above question, give reasons: ..................................................................................................................................................................................................................................................................... 6. How much would you be willing to pay for your wedding (excluding organising costs)? Below �3,000 �7,000 �11000 Above �3,000 - - - �15,000 �7,000 �11,000 �15,000 ? ? ? ? ? Questionnaire Continued 7. How much commission on overall costs would you pay a wedding organiser? Below 5%-10% 10%-15% 15%-20% 20%-25% Above 5% 25% ? ? ? ? ? ? 8. Would you prefer a wedding planner to be businesslike or professional or both combined? Business Like Professional Both Combined ? ? ? 9. Which of the following features do you think would be most important in an organised wedding? Place in order of importance, where 1 is the highest and 8 is the lowest. Cost ? Place ? Everything Organised and On Time ? Good Decoration, Flowers, etc... ? Clothing ? Wedding Reception ? Catering ? Hospitality & Professionalism From Planning Staff ? 10. If there was one thing that we could do as a wedding planning service that would make your wedding perfect for you, what would it be? ......................................................................................... ......................................................................................... ......................................................................................... ......................................................................................... Survey Methods Survey Methods Advantages Disadvantages Face To Face Questionnaire * Find out exactly what you want * Choose sample group * Know reliability * Varied response * Quick response * Good control over data collected * Researcher bias * Costly (have to employ people to do it or do it yourself) * Time consuming Postal Survey * Relatively inexpensive * Slow response rate * Low response rate * Can gain skewed results * Must be made simple and easy to complete (Low depth of questioning) ...read more.

Conclusion

Hopefully this will give me reliable results. I know the results will not be representative of the population, but they will be representative of my clients. I also chose this over the other methods of sampling as none of the other methods would focus on just surveying people who are getting married. If I did use one of these methods, I would probably find that the views of those who plan on getting married, are different to those who don't, as things like money and time are more important than you think to those when planning a wedding, compared to those who aren't planning a wedding. Competition In my area, and generally in England there are few business that focus on organising only weddings. In Chorley there are 3 other businesses that organise weddings, parties, functions, etc... so these are my primary competition as they do the same thing as my business and are in the same area. Primary Competition Name Location Activities Garforth Consulting Ltd 6 Shaw Brow, Whittle le Woods Chorley Lancashire Consultancy agency about the planning of parties, weddings, etc... Cloud 9 Celebrations 57 Oak Croft, Clayton-le-Woods, Chorley Lancashire Business for organising parties, weddings, hen nights, etc... Organised Occasions The Croston, Runshaw Hall, Runshaw Hall Lane, Euxton, Chorley Lancashire Organising occasions such as parties, corporate entertainment, weddings, etc... As we can see from my table, none of my primary competitors focus their business solely on wedding organising. I believe this is an advantage to me as it means that I do not have to DIRECTLY compete with these competitors. I am aiming my business at people who want to plan a wedding, this is my business's USP (Unique Selling Point). None of these other businesses have that unique selling point, which makes me seem more focused and specific to my customers than the other businesses. ...read more.

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