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More Than Life

More Than Life

All inclusive wedding organizer Tourism Management 2/19/2010

Preface

Project Feasibility study and evaluation course is studying the feasibility in business. This project shows about feasibility of wedding organizer in Bangkok and throughout Thailand. This project included with wedding organizer business management in term of business, competition analysis, technique of process, the financial and risks in this business. The project provides information to everyone who wants to invest about wedding business. It shows about the process, the operation, the benefit and profit to investment in the wedding business. We hope this project can help any investor to make decision before investment. We expect the project will provide the benefit to people who interests in the project. If there is any mistake in this project, our group has to apologize for those of it. More Than life Chapter 1 Introduction

Background and Significance of the project Babies. They are irresistible. And their arrival is a cause for celebration whether theyre the first or the last baby to come in this world. This study celebrates the baby shower in all its forms and renditions. The baby shower was born in the late 1830s. In its infancy, showers were given after the baby was born because it was not considered fashionable for pregnant women to be seen in public. So Victorian ladies gathered for tea after the baby was born to bestow upon the little cherub handmade or silver gifts.Times have changed. Today, baby shower planning starts as soon as the blue plus sign appears on the pregnancy test. Guest list includes boyfriends, girlfriends, husbands, children and pets, coworkers, family and neighbors. Showers come in the form of cocktail parties, barbeques or sporting events, as well as the traditional teas and garden parties. Almost any party ideas can be transformed into a baby shower. And they are not just for moms and babies anymore. Husbands can throw a shower for their brother or best friend at a ballgame or over a hand of poker.Shower invitations have also turned away from the traditional fuzzy pink bunnies, yellow duckies, and powder blue rattle stuck unceremoniously onto card stock. While custom or preprinted cards are still the most popular way to get the word out, electronic invitations are providing to be a force to be invited with.The gifts have changed, too. Though a handmade blanket or sweater is always sought after, the gift list has expanded to include jogging strollers, cribs, beddings, and more. New equipment has spawned a new vocabulary co sleepers, pack n plays, boppys, binkies, robeez, pee pee teepees and kangaroo pouches. Baby gift giving is now a multimillion industry. Department stores have opened gift registries to ensure that babies get what they need. A baby shower should be a joyous celebration of all the optimism and good wishes to new parents and to the new life they bring. Party organizers play an important role as professionals within the industry. Their primary function is to help the clients learn, implement and manage all the necessary tasks required to host a successful baby shower event. As a baby shower organizer, the role of a planner, facilitator, mediator, money manager, artisan and organizer of all parties concerned is assumed. The role is to be "on top" of everything - every finite detail of the party. Baby shower planners can do just about everything - from arranging a budget to timetable. Duties can include setting up appointments, offering etiquette advice, mailing invitations and recording responses, coordinating the decorations, negotiating contracts, and attending to many other details. However, many planners also set their limits as to what they can and cannot do. One baby shower planner draws the line at writing the thank-you notes. Baby showers, being extremely emotional events, can oftentimes try the patience of a saint. The event coordinator must be able to "handle" any situation that will arise. He/She will be dealing not only with not with the parents, but everyone else in their families and circle of friends. Even the most well-planned, beautifully orchestrated event has some sort of emotional twist or turn that a consultant must be able to skillfully negotiate. Our organizer is located at Pueblo de Panay, Roxas City because there is the most popular shopping mall in the city. It is the best way to contact and service with customer easily. Pueblo de Panay will be the biggest main office for our organizer. It will be a world class destination in the future.

Project objective To stimulate commerce for the Colors and Themes either directly or indirectly through Colors and Themes Parties and acknowledging the high level of spending this industry provides to the region. Provides an opportunity to showcase an event product or service being provided as well as collect leads from parents and future parents interested in what is/are being offered. To educate the community, region & government bodies on the benefits the Colors and Themes Parties contribute to the tourism industry in the area. To research and obtain statistical & numerical data via the party businesses to get a more accurate overview of evens spent in Colors and Themes Parties and how much parties directly and indirectly bring into the economy. To have a unified body of party professionals in Colors and Themes company. To provide networking opportunities and introduce new businesses to the industry who prior to the association would have trouble promoting their business to the region. Colors and Themes Parties presence at national expos and cluster advertising when smaller businesses wouldnt be able to do this on their own. Providing industry updates & updated statistics on the industry as a whole to our members. Professional Development Programs. Providing resources to the event industry.

Chapter 2 Industry profileNature of Industry For most people that are getting ready to become parents for the first time or any order for that matter, planning a baby shower party can be a time-consuming and overwhelming task. Planning for a baby shower party includes finding a party location, meeting with all the different party organizing organizations, vendors including florists, disc jockeys, photographers, and caterers, invitations, etc. The costs of a baby shower vary; one thing is certain, people are willing to spend when it comes to a special event of their loved ones. Colors and Themes Parties will offer you the best party styles by tailor - made method. Today's parents are too busy to plan the party, and the expected help from family members is now often unavailable, because they live in other cities or are very busy with their own careers. To reduce tension and to insure a perfect party, more parents are turning to event organizers for assistance. When choosing an event coordinator, remember to use one who is easy to get along with, communicate easily to and understands what the clients are looking for such as what type and style of party the clients want, the color and theme, type of dcor, entertainment and most importantly the gift registry. Colors and Themes Parties will facilitate the party planning process from the buildup, all the way to the celebration. With reputable suppliers and vast amounts of information supplied the baby shower will be a momentous one.Situation of Industry Colors and Themes Parties is entering in three years of operation. Through market research including focus groups, it appears the idea will be well received and marketing is now crucial for developing visibility. The store offers party dresses and accessories for rent. The basic market need is the ability to rent party costumes and accessories as opposed to the customary practice of having to purchase them for only one day. Market size: Nowadays, baby showers are getting more innovative; and are getting bigger and better. Market Stage: Baby shower party is a new market. It is a latest trend to hire party coordinators to take care of the entire baby shower celebration. Market Needs: The market needs for party planning services are strongly shaped by the customers' desire to have a perfectly planned and executed baby shower party. Although parents and family members, plan and budget for the party as far as six months or more in advance, the clients often realize that they cannot make all the necessary preparations by themselves in a cost effective manner. Strongly affected by the established social values, such customers seeking professional advice to ensure that all the important aspects of the party are met. Market potential: The party scenario in Roxas City and the province of Capiz is more than just celebration. The change is visible in the middle class who want the flavor and ambience of elite parties. Seeing the world around, they, too are spending and want the best. It sorts of coincided with the rise in disposable incomes of the rich and upper middle class and over the years, parties have become more inspirational - the party should be better than the neighbors. Demand Cycle: October to December is the most popular months for baby shower parties. A full-time experienced Planner can organize 30 to 40 parties or events per year. Not only has that, most professional planners calculated their fees based on a percentage of the total party cost (usually from 10 to 15%). Employment of party planners is projected to grow faster than average for all professions, increasing 20% from 2015 to 2020 (1). Population growth and increased demand for organized party services will drive job growth. Job prospects are expected to be very good especially for party planning with formal training and experience. Job openings will also stem from the need to replace party planners that retire, transfer, or leave the field for other reasons.

Product and service in General Colors and Themes Parties will offer the best service in the industry. A large network of vendors is needed to ensure that each and every clients need can be satisfied. Professional managers and staff members will face with clients to ensure expectations are exceeded. Additionally, equipment (e.g. banquet tables and chairs) will be purchased, as cash flow allows, increasing the profit margin. The business is about baby shower planning, so the products will include a variety of packages which are selected by customer. However, Colors and Themes Parties offers customer products and services as follows: Baby shower cake Champagne & canaps Flowers Table decorations including table plans, personalized menus, and place names, table confetti, popper and bubbles Party venue (restaurant, hotel, yacht, resort, etc.) Video and photo services Party decorations Guest transport in a variety of different sized vehicles DJ or live musicians Assistance with the accommodation Vision of Organization One Stop Wedding Services is at the heart of our business. Our philosophy is to take care of every customer, by offering professional consultation services in every wedding related step to prepare you for your most important day. We are starting with the concept of your wedding, the venue, the floral arrangements, the musical arrangement, selecting your wedding gown, make-up and hair style that would make you the most special bride in this most important occasion. We also offer other complementary services such as exclusive Limousine rental, and many other services that would make the wedding an unforgettable experience. Every consultation given will mainly be based on our customers needs just to make this occasion as you dreamed of. -Mission of Organization More Than Life is here to help from this day forward and create some of the most memorable moments for your special day. We try to distinguish ourselves through our service and our concern for our customers. We are a full service company that provides complete wedding consulting services. Our consultants are experienced and dedicated professionals in the areas of wedding themes, wedding dressmaking, photography and videographer etc. We offer a high-quality option for a real life wedding, making it one of a kind, and we give our customers our undivided attention. We listen to our customers' needs and have them involved and work with them to create the event of their dreams. Our customers' wishes become our desires. So whether our customer wants a Lanna, tropical, western, international or more traditional wedding; we can help and direct. Our services include weddings, weddings receptions, budget planning, as well as full service referrals to florists, hair stylists, entertainers, musicians and photographers, etc. More Than Life was established by a group of friends, out of a desire to create every wedding to be the best day for every couple. We will make every effort create a special day that will be memorable for the rest of their lives, making sure that the wedding style suits the bride and groom, from the location to the wedding attire. We understand that every couple wants something special for their wedding. More Than Life is confident to make your dream come true. And we love to make a memorable wedding gallery by professional photographers. In according, we are not just an advertisement, so choose More Than Life and let us make your wedding dreams become reality! Our heart to create a beautiful memory of each wedding is what we believe, one of the secrets to our success. We constantly strive to achieve the desired results for our clients. We will provide the highest level of customer service and maintain customer satisfaction, always trying to exceed their expectations. Our commitment to our clients is based on longterm relationships formed through dedicated service, value of creativity and loyalty. We will create a friendly and stress free environment. This will be accomplished by emphasizing excellence in service. Strategy Corporate Strategy More Than Life is new wedding planner business which will be well-known wedding business in Siam Paragon. The business will expand the product by horizontal strategy to reach the high value for profit from competitors. We will increase the product line of our product into many categories such as bridal dress, wedding card, wedding cake, and wedding venue, style of food and beverage, wedding themes by increasing an awesome idea into the product. We think this strategy will lead us to be growth rapidly in the wedding industry. Business Strategy We are dependable and keep our word. We put our customers ideas first, and support their ideas with our professional impute. Our strategy is to have all great agreement between our customers. We love being a company that can be customers' friend and consultant. We value our relationship with customers. We do not have a minimum budget but cater to couples from all walks of life. This is how we increase our clientele, in comparison to those companies who only take on clients with a set budget. Product differentiation: It is very important for any new entrant or even for an existing product to cater such services to the customers that are not catered by its competitors. Our creative teams at SUTRADHAR will continuously work to evolve our services in a such a way that we always stay number one in the market and be in the best in customer satisfaction. Personnel differentiation: Since ours is a service industry, our employees are our brand ambassadors. They are the one who will be directly dealing with our clients. Customer satisfaction will totally depend on their efficient handling of our clients. Wedding is a occasion which is very close to every ones heart and each client would want it to happen exactly the way he/ she has dreamt about it. So a personnel training is an important tool for our success. Channel differentiation: Our strategy is our superior BACK END SYSTEM, which is made up by our channels coverage, expertise and performance. Not partially, but our complete success is based on our superior channel development. Image differentiation: The image which we want to portray for our wedding services is that of a wedding planner which turns out to be the connecting point for our clients. We intend to portray ourselves as the wedding planner who takes care of the smallest of details of the wedding, and provide the best of services, and making the one day of our client a lifelong memory. Some of print advertisements to portray our image are shown as follows. Functional Strategy Marketing Strategy Product Strategy Presented the quality products and services to the customer. Always update products and services in trend. -Created the different strategy with interesting promotion to attract the customer. Price Strategy Setting the price in the neutral selling to customer. Update the price of new products the services in price list. Place Strategy Presented our products and services in the exhibition. Selected the location to promote the products and services. Financial Strategy Provide the financial management to improve circulation in business every month. Join with SMEs that is the policy to loan the money with the cheaper interest. Improve financial system to develop the form and present financing clearly. Human resource Strategy Setting course of training to employee and the member in the business to be skillful. Share work and provide the rules of employee to be clearly. Tests the evaluation of employee before enrolled them to the business. Selected the best Human Resource Manager to control the system.

Chapter 3 Marketing Feasibility Study Chapter 3: Market Feasibility Study Market Analysis -General Environment Analysis Political: Nowadays, government supports for SMEs business to build stability for any business. Government releases a lot of fund to give an opportunity to any business, so it becomes more positive impact for our business as well. Resource: As you know where there are wedding ceremony, almost around location must decorate by a lot of flowers. As you know our head office situated in Bangkok, so its quite easy to find a lot of flowers to decorate some ceremony near Bangkok. It will be less cost for transportation. You can see its the best way to reduce budget of flower in wedding ceremony. Now, there are many organizations that support production of any decoration for wedding ceremony, we can use their service to prevent economic leakage as well. Economy: Thailand has good policies from government. The government of Thailand support about tourism business. It is the best chain that will increase benefit of wedding company business. Tourists who travel in Thailand will be interest group to be organizing their wedding. The valentine day will be increased the value of business. The economic in Thailand makes the government set up the policy about SMEs, is the project for any investor. They can borrow the money from the government with lower interest. Wedding organizer can be spread the organization and business that support by SMEs. However, there are many ways to support the economic in Thailand. The investors can join with the policy of government.

Social and environment: More Than life is located in Siam Paragon, so its quite easy to promote our business and attract people come to use our service. Beside, an interesting culture and tradition of each province in Thailand can create a unique wedding ceremony to both Thai and foreigner. As you know Thailand is popular country for travel, so its a competitive advantage to attract some couple to use our service and them willing to pay much for their weeding because its once in their life to try setting their own weeding as their mind. Technology: Technology has played an important role to create easier to communicate with many business suppliers we need to contact. For example; we use internet to access any suppliers to use their service for serving our customer. Moreover we bring a new technology to apply with our business. We present many plan to customer with 3D innovation. It can create satisfaction and impression of customer who come to use our service. Competition Analysis (3C Analysis) >Competitor analysis: In formulating business strategy, More Than Life consider the strategies of the firm's competitors. While in highly fragmented commodity industries the moves of any single competitor may be less important, in concentrated industries competitor analysis becomes a vital part of strategic planning. Occasions are in a unique position of competition. Wedding planners compete against hotels with banquet facilities, other event planners both on the large and small scale, persons within an organization who are assigned the task of organizing an event, and people who wish to organize their own events without the benefit of assistance. The benefits and drawbacks of each of our competitors, as compared with the services we offer, are hardly a match in quality and price >Competitive analysis: More Than Life use technology to be competitive advantage. As you see, its easy to access our customer wherever they are. We bring a new innovation to be applied in our business. For example, we present many plans or projects to customers, so they can get it easily with 3D media we offered them. To be successful in competitive advantage, we strive to use put strategy and pull strategy to complete our target. Currently there is no more company that provide all-inclusive wedding planner with several style such as Western, Europe, Eastern, or Lanna style. Customer can design their dream for wedding, and then we will continue their wedding to be a perfect dream as their mind. SWOT Analysis The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing More Than Life. Strengths Variety of product and service. A practical, efficient way to have a wedding while minimizing sunk costs. High quality products. Outstanding alterations allowing all products to be fit to the wide variety of body types. Weaknesses The company lacks visibility. The whole industry is so cutting edge it lacks consumer awareness. The requirement to generate awareness, not only about the company, but for the industry as a whole. Opportunities Similar companies in other markets have seen explosive growth. Rationality. Threats Competition. STP Analysis *segmentation Although the flash and excitement of impending nuptials can be intoxicating, it can also be overwhelming. Therefore, we primarily market our services to the people who need those most--brides and grooms. Another customer segment is represented by the numerous family members and guests attending weddings, anniversaries, and similar events. This segment requires event preparation services like gift ideas, etiquette tips, etc. Besides the wedding arrangements, which More Than Life Wedding Planners believe to be their major client assignments, other events the company will provide services to include corporate retreats, etiquette training, etc. This customer segment is estimated to have the annual volume of 1,000 orders in Thailand.

*Target Market Being the first year of our business, our head offices will be in one main city, Bangkok. We have chosen the city for keeping in mind our TARGET SEGMENT. Well for the time being we have classified our segment according to income. Our target segment for the time being are the customers whose budget for the wedding is 500,000 baht and above. The reason that being, because these people will be ready to shell out more money for grandeur and for a magnificent wedding. This explains our choice of city for our head offices. Thailand is an attractive country, because of the lifestyle they have, customers there are more open to new ideas. But again our segmentation is multisegmentation. As mentioned earlier also, we will be providing services to all religions, in order to get the maximum share in the consumer market it is indeed very important to cater to all possible religions we can. Below is the profile of the target market: Age Targeting consumers of the age group 21 and above. Apart from the marketing campaign which will be approaching to all, we will be also having special campaigns for young people (looking for different wedding) and old people. ( see product development and differentiation).

life stage We will be targeting people who are themselves planning to get married, those who are planning for their childrens wedding and also those who want to celebrate their 25 or 50 years of wedding anniversaries.

Gender Our target segment is both men and women

Income People in Thailand are very well experienced in arranging weddings. Its the occasion they enjoy and cherish the most. Hiring a wedding planner requires to shell out extra money from their pocket. So we will be targeting only those people whose wedding budget is above 500,000 baht

Religion We will be providing services throughout Thailand and international

Lifestyle Lifestyle of our target segment will be quite lavish. They would believe in maintaining status and would want class-apart services.

* Positioning More Than Life will position itself as a niche service wedding planner serving Thai or foreign customer. The market will recognize the value that More Than Life provides with its specialized services. More Than Life will leverage its competitive edge to achieve the desired positioning. More Than Life's competitive edge will be based on two factors, specialization and strategic relationships. More Than Life will be specializing in many distinct areas of corporate planning. While specializing essentially precludes More Than Life participating in some other market niches, it allows the company to excel in serving its chosen markets. Additionally, the expert knowledge allows More Than Life to provide the service as a cost saving to the client company because it can concentrate on improving the current offerings. Improvements that More Than Life strives for are a reduction in cost charged to the client and an improvement to the level of services offered. Positioning of More Than Life Marketing Mix strategy Product: Product: As you know, our business is about wedding planner, so our product will be many plans which are selected by customer. However, we can offer customer for product and service as they wants. We can divide our product and service as follows: Wedding Cake Champagne & canaps Flowers Table decorations including table plans, personalized menus, place names, wedding favors, table confetti, poppers, bubbles and disposable cameras. Reception venue (restaurant, hotel, yacht, taverna, beach ) Photographer & wedding DVD, album or storybook Bridal transport (white Mercedes, vintage car, Rolls Royce, horse & carriage) Guest transport in a variety of different sized vehicles DJ or live musicians for the wedding reception Assistance with travel arrangements for bride, groom and guests Assistance with accommodation in either hotels or villas for the wedding party Price: As you know More Than Life is a wedding planner, so our business cannot identify a specific price for each plan because each plan is not the same. However, the prices that we set are very reliable. Some strategy is applied to our business such as skim, market penetration, etc. As you know in the world of business, there are high and low season so our business prepare for promotion to serve the needs of customer even if low season as well. Also we have to use price discrimination to be a alternative for customer. The pricing scheme will be based on a per project estimate tailored to each customer. Place: More Than life is situated in Siam Paragon and can be performed throughout Thailand, determined by the needs of customer. We concern about the easy way to connect any business supplier. We need to follow order processing which we have planed. However, the customers can connect us every where such as, internet or agency in Bangkok. We try to spread communication in every region of Thailand. We proud present the image of our business and increase reputation. Promotion: Several forms of advertising and promotion will be used including website, partnership/networking, and participation at various trade shows. We use technology to be promoting our business through many websites. Also we offer sale promotion for our customer at least twice a year. For example; customer who used to try our service that is cost more than 1,500,000 baht then the next time you will get 15% discount automatically. CustomCard SouvenirFloristLocationMake up and hairstyle Musician RitualFramesPhotographyVideo

Conclusion in market feasibility The table of sale forecast of More Than Life Company in each year, it can represent clearly. In every season, it can affect directly to total sales for More Than Life Company. In winter season, it is between Oct Feb, This period is high season in every year, and it has high demand of customers to use our service. And it has festival for love in February that is Valentines Day cause to increase trend of total sale in every year and makes more profits to our company. In summer season, it is between Mar June, it has moderate of total sale but this period not affect to our company. Then we attend and believe to increase the growth of total sales in summer season. And in rainy season, it is between July Sep, it has declining demand of customers for use our service, when compare other seasons. However, More Than Life has high total sale from other events, studio photograph and wedding fair. We always adjust and develop marketing strategy to suitable for situation. Moreover, we also believe in each year in this season will increase of total sale fully.

-Conclusion More Than Life is wedding planner that located in Siam Paragon. Our business supports a quality services and products to customers. We will be the one who give opportunities to local community. We are planner who likes the agency. We share income to other business such as car rental, stylist, bakery shop, vendors, or etc. Many companies will work with us to make customers dream come true. Prospective spouses, new spouses and interested people will be potential target group. We choose the best destination where the customers design to be theirs wedding. More Than Life is a wedding planner company specializing in corporate customers. More .Than Life will offer many types of services; such as provide customer a special wedding plan, design wedding ceremony, as well as organize their wedding to be as their mind. More Than Life is an all-inclusive wedding planner. Moreover we bring new innovation to apply with our business to satisfy needs of customer. So, technology plays an important role to build up image and reputation of our business. More Than Life can take care of the planning of the wedding, as well as actually offering the customer through the use of one of More Than Life's strategic business partners. The mission of the More Than Life is to provide companies with the highest level of wedding planning. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers. The corporate market for wedding planning is steady and profitable. For some large companies, economic downturns means cuts in training. This is only the case for shortsighted companies however. The benchmark companies may trim down the work force during a downturn, but they do not cut funds for training. They recognize that an investment in human resources is always a good investment. More Than Life intends to profit nicely from this intelligent business strategy. Additionally, even in times of economic downturn, companies still have many good plans and will still need someone to organize these wedding. In short, the need for corporate wedding planning/ hosting services rarely diminishes, it is a steadily increasing demand that More Than Life will capitalize on. More Than Life projected growth rate is over 100% through year three and will have profits as a function of sales over 11% by year three. Chapter 4 Technical Feasibility Study Chapter 4: Technical Feasibility Study - Product and Operations Analysis Product Characteristics (in Detail) As you know our business is a wedding planner, so the primary thing that we need to take into consideration is a good plan for our customers. Anyway our product can be divided into many kinds as follows: Location: More Than Life is situated in Bangkok at Siam Paragon. The Location Company also works with leading internet service operators around the world to help them to develop and offer services designed to attract new customers, increase average revenue per customer and reduce customer churn. Why paragon? Siam Paragon serves as its slogan the Pride of Bangkok goes. Located in the heart of Bangkok, Siam Paragon is the first mega shopping complex in Thailand, offering a magnificent and elegant shopping experience as it houses various world class international brands and flagship stores of the most prestigious hi end brands; truly a shopping paradise for brand name lovers. Shop til you drop and explore our 10 facets of luxury, beauty, sports, hi tech communications, lifestyle and dining. Dont forget to visit Paragon Department Store where all the best of everything are waiting for you all under one roof.

Map for location of More Than Life

Facility Layout

2 M e e t i n g R o o m B A C K O F F I C E C E O R O O M R E S T R O O M P R O D U C T I O N R O O M

#Logistic Management We attend on complete wedding. Our logistic management is only transport the components that will support our wedding plan such as flower, souvenir, accessory or food and beverage. We manage to be ready when we want. We prepare transportation agency to manage logistic management. We will order the products to be a part of wedding and then corporate with the transportation agency to transport the product to the wedding site. Logistic management of our company will be a less part of business. We manage the business with planning in long time. So it is possible to solve problem with logistic management. The component of the wedding was prepared before. If we have problems, we will set the second plan to manage with that problem. Our logistic management will be participation with transportation and logistics agency. It is the way to share responsibility an income to other company. #Facility management Our business is core role to make facility and convenience to customers. It is very hard work for us. We attend to facility management. We set everything and prepare convenience way to customers. We will make customer satisfaction and happiness for them. Each activity will smooth. All items will set from customer. The guests will share their activities to bride and groom. Wedding planning will not be bored. Everything that the guest and the owner want will be prepared for them. Location and accessories should be prepare and organize. It is very hard beginning from the way that guest come to wedding, their food and beverage, marriage ceremony, the ready of location, supportive of their activities, or sending the guest. The beginning to the end of wedding will be complete and convenience. We have staff that prepare to each activities. Our staff will set and solve problem in that situation. Facility management is important in our business. -Cost of investment # Pre-operating cost More Than Life has large office that customer can contact us. We sell our product by internet, front office, brochure, and Exhibition. Our Pre-operating cost is following: Building reservation 500000 Furniture 100000 License permitted 50000 Internet and telephone setting 50000 Website design 10000 Office decorate 100000 Exhibition Reservation 25000 Equipment/tool/machine 300000 Investment Plan The investment plan comprises primary capital needs for the foundation and operation of the business. The plan also includes initial marketing and sales promotion expenses. Investment cost in development of business Building investment 34,000.00 Furniture 17,000.00 Office equipment 45,000.00 Technical equipment 16,000.00 Software 10,000.00 Additional equipment 10,000.00 Total 132,000.00 Operation cost of business Licenses 12,000.00 Rent (3 months) 11,000.00 Add. Prop. Expenses 8,000.00 Development cost 5,000.00 Leasing expenses 7,000.00 Marketing and distribution Start promotion 6,000.00 Online-application 4,000.00 Employee and recruiting costs Employee recruitment 3,000.00 Employee investment 43,000.00 Start-up costs Consulting 2,000.00 Founding fee 2,000.00 Insurance 1,000.00 Financial costs Interest (3 months) 5,000.00 Liquidity 21,000.00 Total 130,000.00 - Management Analysis Wedding industry that is made up of multiple smaller enterprises like caterers, wedding consultants, dresses, various beauty suppliers (hair, makeup), photographers, favors/bridesmaids gifts, music, honeymoon related, etc , there are difficult to management in each part of wedding. The More than life of Wedding Planners was founded for one purpose to promote professionalism in wedding planning. This is done through membership, training courses and specialized events. A wedding is the most personal and important event in a couples life and those involved have a duty to act with integrity and honesty. All members listed in our directory are vetted through our strict entrance requirements and abide by our code of ethics and, although every member is different in the way they operate, all conduct their business in a professional manner. Our wedding coordinators are here to ensure your day is magical, stress free and devoid of anxiety. They can assist with your entire plan from engagement to honeymoon or can tailor their services to include only a select number of the options listed below. Our relationship with a catalogue of loyal suppliers worldwide allows us to intensify your buying power and ensure that you get the most for your budget. Define the wedding you are dreaming of and More than life assist you to create that dream. From site selection and contract negotiations to planning and production, Every Last Detail works of more than life to ensure that guests receive the finest service, and are left with lasting memories, there are Complete Wedding Managements, including; Budget planning and management Organized planning timeline and follow through Assistance in locating the perfect facility for ceremony and reception Customized pre-screened vendor referrals in all categories Attendance at vendor appointments and contract review Schedule and attend attire selection appointments and fittings Wedding and tabletop design Assistance with guest accommodations, welcome baskets and transportation Etiquette and logistics expertise Assist with coordinating save the dates, invitations, place cards, and other stationery Facility and table dcor layouts Vendor confirmations and complete coordination Detailed wedding day timelines and logistics Direct ceremony rehearsal Wedding day coordination and on-site troubleshooting Administrative cost There are a number of costs associated with a More Than Life Company, and the administration costs vary according to the needs of the couple. The standard administration cost covers the following: -Salary and Commission of employee 300,000 -Cost of interpreters for legal meetings, wedding ceremony and all documents 10,000 -Consulting company 20,000 -Musicians 50,000 -Chef 30,000 -Florist 50,000 -Photographer 15,000 -Telephone 7,000 -Electricity 8,000 -Tax 1,000 -Etc. 50,000 The standard price for the above is 640,000 baths, but this price will be adjusted according to customer requirements. Conclusion The Technical Feasibility Study assesses the details of how we will deliver a product or service (i.e., materials, labor, transportation, where our business will be located, technology needed, etc.).Our company thinks of the technical feasibility study as the logistical or tactical plan of how our business would like to manage in wedding of customer. When analysis do not make the mistake of trying to entice investors with staggering growth projections and potential returns on investment that only includes income (revenue) to the business. With any increase in revenue there is always an increase in expenses. Expenses for technical requirements (i.e., materials and labor) should be noted in the technical feasibility study. A technical feasibility study is an excellent tool for trouble-shooting and long-term planning. In some regards it serves as a flow chart of how our wedding company. We should also not strictly rely on feasibility study conclusions to impress an investor. The technical component serves as the written explanation of financial data because if offers you a place to include detailed information about why an expense has been projected high or low, or why it is even necessary. It demonstrates to potential investors and lenders (and in some cases, potential clients) that when have thought about the long-term needs our business will have as it grows evolve and move through our business to physically reach our market. Therefore, it is critical that the technical and financial data in our study reconcile. If other parts of our feasibility study shows growth, we will also have to project labor and other costs and the technical ability to support that growth of our company. *Supplier Souvenir, Florist, Food Beverage, Musician, Location, RitualMore Than Life Company Income Statement For Month Ended More Than Life Company Income Statement For Month Ended More Than Life Company

Net income 646,800 2,630,800 960,800 646,800 1,192,800 1,580,800

Net income 646,800 2,630,800 960,800 646,800 1,192,800 1,580,800

More Than Life Company Cash Flow Statement More Than Life Company Cash Flow Statement

Chapter 6 Risk Management Chapter 6: Risk Management The aim of risk management is to safeguard business as well as a good financial position and operating profit and helps to prevent these claims but a good risk should to provides increased productivity and reduced errors. Business risk is a circumstance or factor that may have a negative impact on the operation or profitability of a given company. Sometimes referred to as company risk, a business risk can be the result of internal conditions and external conditions that may be evident in the wider business community. More Than Life is a new business that may have risk but we will use the appropriate strategies to measure and analyze risk both external and internal that will be threat to effect and occur in order to ensure the business can expand and develop in positive way and we will solve problem in which positive to our. External Forces External forces is factor that will make problem and affect to business such as political, economic, social, technology, customer want and need and, etc, these are may occur that we cannot expect but we can protect, adjust and improve business when problem occur in order to still have company. 1. Political In side of political that about of regulation that may have problem with limit age to marriage, this is a little bit that may affect to our company because of our target market is not group of teenager and who is love in same sex, for Thai regulation is not allow them to register a marriage certificate but they can contract. For this case, it affect in a little bit but in positive. Inside of politic, now is a big problem of Thailand, there are conflict between red shirt and yellow shirt, problem in south 3 provinces and, etc to make tourist who want to marriage in Thailand change to other country. For above problem, that may risk to wedding company in a little bit and our cannot to control or change the regulation but we still to promote and set some promotion for who love in same sex for increase sale 2. Economy Economic has an influence to worldwide and is main factor that affect directly especially the business. Economic is an indicator to predict such as income, GDP, standard of living, and growth rate of business. If occur economic problem or income reduce, people will increase more carefully to spend money many businesses will lose of sale, that may risk to small and new business and may risk to our business. While the economy has impacted our business, More Than Life will setting strategy to increase sale in save concept using advertising placements in wedding publications is an expense that clients have been cutting back on to save money and we will increase to promote before wedding festival and setting low cost wedding package in during non wedding festival. Although we set package in low cost, service quality will not low. More Than Life will decrease weakness by increase strength by offer the high quality and variety of product and service and increasing the reliable and satisfaction to customer for to spread word of mouth. This is a way to protect new competitor and to win exiting competitor. So, More Than Life assures that we can expand market and make a lot of profit in early. 3. Social Thailand is a developing country will has many classes of people that may has different in living, fashionable, education and ,etc that mean people will has different about want and need in products and services which relate in price, that we can see many companies has many products line to offer customer in all classes. For Thai wedding is the same, if groom and bride want to wear Thai suites in morning and ware wedding dresses in evening that wedding company should have many products and services to offer customer when their need, if we can not to response customer need they will change to other that we will lose of sale and money. For this reason may risk to our business if we can not to response their need. For above situation, More Than Life will not make it occur by search and collect information of customer need in all classes and use it to apply with our products and services and make differentiation such as dresses, we will offer in luxury, classic, and, etc and divide into Thai style, American style, Korean style and, etc in order to attract customer in all classes and although our company look like a luxury wedding company that is not refer to only high class, that we will set low price and medium price and do not make different in service between high and low price for make customer satisfaction. If our company has more options in products and services and reputation than other means many customers will want to use our services, after that we will have a lot of money and can expand market. 4. Technology Technology is an important factor in all of business such as telecommunication, internet, and other equipment that makes many businesses and people save time and money but now technology is rapidly changing. For some business, technology in equipment is an important thing for produce goods but it may use a lot of capital to invest, the business should to careful for spending money. For wedding business devices are computers, cameras, storage devices, and other software for photo retouching and, etc, these are very important for wedding business. When changing in technology it can make better technical and more efficiency. For this reason, it may risk to our business. More Than Life will update the news and to find information about development and changing in technology to learn and adjust with our company to be an efficiency and to serve service about media in faster and short time in order to make customer satisfaction in time and quality products and services. 5. Competitive Bangkok is a metropolis and a city of youth and working people, that have many entrepreneurs and many new competitors want to launch wedding company because Bangkok has more target market. Due to high competition, wedding company will try to be all inclusive in products and services that may hard for invest in small business. Moreover the reliable, reputation, professional and varieties of products and services are competitive advantage for big company that may risk to our new company and will effect to amount of customer and lose of sale. So, More Than Life must to use competitive advantage and increase our strength that mean to offer and serve products and service in higher and better than competitors and to search and study strength and weakness of competitors and make our products and services in differentiation and use marketing mix or 4Ps to analyze our company and use it in appropriate and efficiency. After that we think, our company can make more customer satisfaction than other, that is a way to spread word of mouth when customers are satisfaction and we will be an efficiency wedding company. When our company has reputation, reliable, professional and varieties of products and services we think, we can make a lot of customer satisfaction that mean we can make a lot of sale and profit. 6. Need and Want Need and want of people will change when social, lifestyle, attitude, time, trend, and, etc has change. Many people has different need of products and services that up to useful, fashionable and price, like a trend of wedding dress it will change in every year, then products must to add more and up to date in all time. So it risk to our company in directly. More Than Life will manage risk by keep the old to adjust to be a new one and fashionable for save money and we still to offer more choice by add more products in every season if it necessary for save money. Internal Forces Internal force is factor that may occur in organization by executive and operating in an organization but it can control and solve when it occur, these cause may risk to our company. 1. Employee Who have some grudge against the company and college and have malicious intentions in creating a situation adverse to business operations. For this situation, manager or supervisor should to reconcile with them and to investigate and judge the problem and punish to who is bad. 2. Operating This is a risk arising from execution of a company's business functions such as fraud risks, mistake of working. It often occurs in marketing and accounting department. For employee fraud it like a cheating, the employee may lose in their working time or not working in full time or cheating in accounting to fraud money. For these reason may risk to our sale and lose of money. From above situation, we will set an auditing to audit in each department and to keep and check working record of employees and to warning for who less in work and to support who work in better and honest to company. 3. Human Resource The business success depends on its professional staff. The availability of qualified professionals is an important factor for the growth and profitability of the business, and if low carefully in recruitment employee, the company will has low quality of products and services; company may lose of sale and profit. More Than Life will careful about recruitment and send them to training before to start working and motivate employee to work in qualification and make customer satisfaction by give bonus or holiday for who best working from colleague. 4. Time Time management is an important factor for all who do business and on time is important for employee, delivery, meeting, and, etc. When they are not on time it may affect to another part, it may risk to our reputation if product is delay of delivery, it may risk to our reputation and reliable of company and our sale may decrease. More Than Life will solve time management by arrange it in clearly and for delay in delivery to customer we will tell to customer in truly and apologize to them and to change time arrange and when products has come in, we will give an extra gift or some discount. For employee late, we will punish them by warning and after will decrease salary. For customer not on time or forget time, we will call to them before 1 day to confirm about an appointment. These are threat of business if it occurs, it will decrease of sale and money of company, we will make it occur or make in less. Chapter 7 Summary Chapter 7: Summary of project feasibility study A wedding organizer business offers an opportunity to earn an excellent income, as well as the pride and self-satisfaction of business ownership, while doing something you already enjoy. It is a great business for those who love weddings and who are highly organized. It is also a natural progression for those already in the wedding industry - people who are currently operating bridal boutiques, wedding stores, floral services, catering companies, and reception venues. A wedding organizer has the role of a planner, facilitator, mediator, money manager, artisan and organizer of all parties concerned. Wedding planners can do just about everything. Duties can include setting up appointments, offering etiquette advice, mailing invitations and recording responses, coordinating the decorations, negotiating contracts, and attending to many other details. Wedding planner is the team that can develop their skills in other structures. We service to the customer who want to rent the dresses or who want to have the creative for any occasion beside of wedding planner. It is the way that the investors will have the benefit from this business. Wedding planner is the opportunities to meet with many agencies. Market condition is the way that company can learn from this business. When we success in wedding planner, we will have chain or franchise for this business. It is the ways to increase the potential of the business and up the business to be greater from common. There are many agencies that involve with wedding planner. The business will connect with the agencies. Sometime we can manage the agencies business with ourselves. More Than Life will offer you the best several of wedding style by tailors made method. Thai weddings, Buddhist Weddings and marriages, and Christian marriages at a Venue are your choices from Church to Beach, Waterfall and Hotel. Marriage services in Thailand for overseas Brides and Grooms and for Thai ladies marrying, we can arrange all types of wedding from Buddhist Ceremonial and Thai Marriages and Wedding Services through to Christian wedding service at a venue of the customer choices. More Than Life will use many of styles to attract the customer use our services. More Than Life is entering its a few year of operation. Through market research including focus groups, it appears the idea will be well received and marketing is now crucial for developing visibility. The store offers wedding dresses and accessories for rent. The basic market need is the ability to rent wedding dresses as opposed to the customary practice of having to purchase them for only one day. The wedding scenario in Thailand is more than just getting married. The exotic destinations, Thailand have the important attractions that successful usage of these places in the form of Imaginative weddings. The change is visible in the middle class who want the flavor and ambience of elite weddings. Seeing the world around they too are spending and want the best available. It sort of coincided with the rise in disposable incomes of the rich and upper middle Thai class and over the years weddings have become inspirational. More Than Life consider the strategies of the firm's competitors. While in highly fragmented commodity industries the moves of any single competitor may be less important, in concentrated industries competitor analysis becomes a vital part of strategic planning. Occasions are in a unique position of competition. Wedding planners compete against hotels with banquet facilities, other event planners both on the large and small scale, persons within an organization who are assigned the task of organizing an event, and people who wish to organize their own events without the benefit of assistance. The benefits and drawbacks of each of our competitors, as compared with the services we offer, are hardly a match in quality and price. More Than Life will leverage its competitive edge to achieve the desired positioning. More Than Life's competitive edge will be based on two factors, specialization and strategic relationships. More Than Life will be specializing in many distinct areas of corporate planning. While specializing essentially precludes More Than Life participating in some other market niches, it allows the company to excel in serving its chosen markets. Promotion will be used including website, partnership/networking, and participation at various trade shows. We use technology to be promoting our business through many websites. Also we offer sale promotion for our customer at least twice a year. We bring technology to complete our plan. Technology can help to be convenience when we show the entertainment and pleasure situation. A wedding is the most personal and important event in a couples life and those involved have a duty to act with integrity and honesty. All members listed in our directory are vetted through our strict entrance requirements and abide by our code of ethics and, although every member is different in the way they operate, all conduct their business in a professional manner. Our wedding coordinators are here to ensure your day is magical, stress free and devoid of anxiety. They can assist with your entire plan from engagement to honeymoon or can tailor their services to include only a select number of the options listed below. More Than Life is a new business that may have risk but we will use the appropriate strategies in order to ensure the business can expand and develop in positive way and we will solve problem in which positive to our. Thailand is a developing country will has many classes of people that may has different in living, fashionable, education and ,etc that mean people will has different about want and need in products and services which relate in price, that we can see many companies has many products line to offer customer in all classes. It can show the way to increase the customers in the business. More Than Life must to use competitive advantage and increase our strength that mean to offer and serve products and service in higher and better than competitors and to search and study strength and weakness of competitors and make our products and services in differentiation and use marketing mix or 4Ps to analyze our company and use it in appropriate and efficiency. More Than Life is the interesting business that the investor should to invest, because there are already to prepare and the investor will have the benefits from the business. There are many chains that begin from this business. It is the opportunity that the investors should have and it was supported by many organizations such as government. We make sure that the investor will have the profit from More Than Life