Moon Valley Functional hall | Application Preview
Moon Valley Functional Hall is seeking government grants to establish an event planning business centered around creating a well-equipped banquet hall. The funding will cover various startup costs, including business incorporation, insurance, facility acquisition and renovation, office equipment, website creation, employee salaries, marketing, furniture, and miscellaneous expenses. The total estimated budget amounts to approximately $238,350.
The business intends to innovate through personalized technology tailored for event partners, assessing client needs during events, and gaining a better understanding of industry trends and consumer demands. Growth strategies include networking within various sectors, developing a multimedia-rich website, and targeted advertising as the business expands.
The banquet hall rental industry in the U.S. is thriving, with a 15% growth in facilities and nearly double the gross receipts in the past five years. Moon Valley sees an opportunity to stand out by catering to a diverse clientele ranging from young couples to large corporations, religious groups, political entities, families, government organizations, educational institutions, and sports organizations. This approach aims to serve both high-profile clients and smaller businesses, positioning the company competitively in the market.
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General Information
Business Registration Number: 001505715
Location: Lawrence, MA, United States
Length of Operation: 0
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
Starting an event planning business can be capital intensive; this is so because on the average, you would need enough capital to build a well – positioned and well – equipped banquet hall. When it comes to starting a medium scale but standard banquet hall and event planning company, the following expenditure should guide you; • The Total Fee for incorporating the Business – $750. • The budget for basic insurance policy covers, permits and business license – $2,500 • The Amount needed to acquire a suitable facility that will accommodate a well – equipped and well – positioned banquet hall in a good location (Re – Construction of the facility inclusive) – $200,000. • The Cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $ 5,000 • The Cost of Launching an official website – $600 • Budget for paying at least 4 employees for 2 months plus utility bills – $25,000 • Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500 • Tables and chairs ----$12,000 • Miscellaneous: $1,000
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Business Plan
The company is planning to conduct the following research and development: • Create personalized technology for all audiences, especially for partners who are part of the event business as decorators as they help to better track every detail. • Determine the needs of each client at the time of an event, whether it be entertainment at work occasions. • Broadening your awareness of industry, market area, consumer, and industry issues and opportunities. To grow the company, We Can Do It Consulting will do the following: • Network at Restaurants, catering industry, and administrative conferences • Establish a company website that contains engaging multimedia content about our services. • As the business grows, advertise in publications that reach our target industries. The leasing of banquet halls in the United States is an extremely large business. The growth of this industry has remained in lockstep with the growth of the economy in general. The number of facilities operating within this industry has increased 15% over last five years while gross receipts have increased almost two-fold. Some of the factors that encourage entrepreneurs to start their own banquet hall rental / party rental business could be that the business is easy to set up even though the start – up capital is not affordable, and the running cost can be put at the minimum level.
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Self Identified Competition
Salvatory's Andover Country Club Lawrence Elks Lodge Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses. Below is a list of the people and organizations that we have specifically design our products and services for; • Potential Couples / Young Adults • Blue Chips Companies • Religious Organizations • Political Parties / Politicians • Households / Families • The Government (Public Sector) • Schools (High Schools, Colleges and Universities) • Sport Organization
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