Reference no: EM131215952
Project Description
Develop a business plan for an event company (ex. fundraising event, circus, concert, sporting event, etc.) which will include the following components:
1. Operating plan
a. Description of the event
b. Schedule of the event
c. Resources needed for the event (staff hours, parking, etc.)
2. Financial plan
a. Budgeted income statement (revenue – expenses)
i. What are sources of revenue and matching expenses
ii. Additional revenues (t-shirts, concessions, CDs, etc.)
iii. What percent of customers purchase additional items?
b. Cost-Volume-Profit analysis
i. Calculate Breakeven point and Target Profit
1. Consider various ticket price levels (VIP section, bleachers)
c. Cost/Benefit analysis
i. Identify alternative venues (indoor vs. outdoor, city vs. suburb)
ii. Compare both alternatives
d. Measure performance after the event
i. Prepare an “actual” income statement
ii. Investigate variances
3. Presentation
a. Present your business plan to the class
b. Describe why you made certain decisions and price points
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