BUSINESS PLAN

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EXECUTIVE SUMMARY

Who: Jade Leung Weddings and Special Events is solely owned by Jade Leung. What: A wedding and events business offering bespoke planning, styling, and hire services. Why? Modern couples don’t have time to plan their weddings in the way that they used to. They are keen to take on help to iron out the finer details, bring on board suppliers, carry out administration tasks and manage budgets. They are also becoming more style conscious and so the design of their wedding is a higher priority. Wedding planners and stylists are therefore in high demand, particularly for those who are planning the DIY wedding which is dramatically increasing in popularity over the more traditional Hotel venue wedding. North Wales is gradually becoming a style savvy, fashionable area to live and work. It is still slightly behind the English cities such as nearby Chester and Liverpool but nonetheless there is a definite rise in young, professional, fun couples who are living in the area and thus wanting to get married in the area. North Wales is also becoming quite the destination wedding location, with couples from all parts of the UK as well as further afield seeing it as a beautiful area to host their wedding. Founded in 2017, JLW plans to capitalize on this. This business plan outlines how, over the next 5 years JLW will steadily increase the number of Weddings delivered year on year, as well as how a successful wedding hire service will be introduced. It also details how it will launch a series of events which will be an alternative offering to the current wedding fayre set-up which is available within North Wales. The three key priorities outlined within this business plan are;

1) To be the go-to wedding planning and styling Company within North Wales 2) To have an extensive hire portfolio of sought after styling items and furniture 3) To host successful celebrations and events at a fully functional Unit

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INTRODUCTION

To create beautifully designed, modern weddings which truly reflect the individual

personalities of the style conscious couple in question. And to empower brides and grooms to be who are in the planning stages to do the same, in their own unique way.

Plan – Hire - Inspire

Jade Leung Weddings and Special Events (JLW) was created to assist the style conscious modern couple with the sometimes-burdensome task of planning their wedding. It is a service led business, with the clients’ needs shaping the end product that is delivered. This means that a couple can choose JLW to plan their whole wedding from start to finish, to come on board for certain elements that they need along the way, or they can plan everything themselves but entrust the management of the day itself to JLW. Company history

JLW is a sole proprietorship company, owned and managed by Jade Leung. It was founded in July 2017 and is enjoying a successful first calendar year thus far. With a successful career as an Events Consultant with 6 years plus experience of delivering high end and large scale corporate events across Europe, Jade had a long term corporate client from within the IT industry with whom her working relationship should continue for the foreseeable future. Keen to further her design capabilities and enter the wedding industry within her home County, she successfully completed a diploma in Wedding, Planning, Styling and Design via the UK Academy of Wedding and Event Planning (UKAWEP).

JLW’s successes so far include gaining recognition in two National wedding blogs; the Mountainside bride and B.Loved blog for its design credentials, as well as being a published stylist within Rock My Wedding. These successes have helped gain a respectable following on social media across its two main platforms; Facebook and Instagram without any notable marketing activities to date. This has also set the standard and expectation that JLW is a high end, professional and on trend company. It’s social media followers are in fact its target market; professionals who are looking to plan a stylish, modern wedding. JLW’s place in the market has naturally replicated this, it is an exclusive brand; a wedding planning service that brings together the very best suppliers in the area to deliver a seamless wedding, with stunning styling to match.

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Since its launch, the company website has also worked its way up to the first page on google search when searching for ‘North Wales wedding planner’ (the first wedding planner listed) meaning that prospect clients can easily find out about the company. There are currently no other employees at JLW, although an assistant wedding coordinator may be required in the future, should the scale of the weddings planned by JLW increase, and should there be multiple enquiries over the same wedding dates. The current legal status of the Company is of Sole Trader status. The long-term plan may involve moving to be a Public Liability Company, depending on the taxable benefits involved. The long-term vision for the company is for it to attract high end clients who require the full wedding package, within which we could also include the hire of props and equipment for JLWs extensive stock at an additional fee. At the end of the 5-year plan it is the aim to be able to deliver this service from a showcase unit. The services offered within this 5 year period are set in three main branches; Plan, Hire and Inspire and are detailed below.

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Services – Plan

Three wedding planning packages were launched in August of 2017, ranging from ‘On the day’ wedding management to ‘Full Wedding Planning’. The mid-point package, ‘Bespoke’ allows for a price to be quoted based on the needs of the client. It is expected that 7 weddings will have been delivered within the first calendar year of business, since weddings are typically planned a year to 18 months in advance, this is quite respectable. It is also without any great marketing efforts, just reliant on social media channels and word of mouth. Full Wedding Planning The whole works! I’ll be with you every step of the way, supporting you through all the major decisions, from venue search to stationary selection, to dressing your venue and managing your wedding on the day. £1,750 Bespoke This package is designed to be completely customisable and bespoke to you. It includes creative design, on the day styling and management, plus my support on any number of the following add ons: Venue search and selection Supplier sourcing Administration Budget management From £850 On the day Got everything planned but want to be able to relax and enjoy your day, knowing that every little detail will be looked after? This is the package for you! £500 *package descriptions are as described on website

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Plan pricing The current pricing strategy of the business is mid-high range within North Wales. Perhaps this will discount a proportion of the area’s potential clients, but the pricing is fair based on a business in its infancy that is aiming for a high-end niche clientele in the future. With the growth of the company and when the recognition of the company within the industry grows the pricing strategy will reflect this change, with the top two packages; bespoke and Full Wedding Planning increasing in price. The current pricing structure also takes into consideration the geographical area in which the company is based. Wedding planning and design is a relatively new concept within North Wales and therefore the pricing needs to be at such a level that it does not intimidate its local customers. Once the company is at a level where it is a truly recognizable brand consideration will need to be given to increase the pricing into a more premium level, more similar to those who are based in nearby cities such as Chester, Liverpool, Manchester and Leeds. It will also be worth assessing whether a move towards budget % based fees would be more profitable. For example, the Full Wedding Planning fee will be 10% of the clients overall wedding budget. This is more synonymous with pricing in larger cities and London. The ‘On the Day’ package will remain at £500, even when the company has matured and has reached its desired level of recognition and quality. This is fair pricing for the work involved and will continue to attract potential clients who have done all of the planning for their wedding themselves but are just looking for that security on the day that someone highly experienced and trusted will take care of proceedings so that they can enjoy their day. It is also a similar price for ‘On the Day’ packages in other areas of the UK, and so will be an accepted and comparable price for any potential clients who are coming to North Wales as a destination wedding venue and looking for someone local who knows the suppliers involved to look after the running of the day.

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Service – Hire

JLW currently has three hire items, an upcycled vintage dresser, bureau and a grey round table. These are perfect for displaying table plans, dessert stations, gift and guest book stations or as alternative ‘candy carts’.

These items are available to hire at £100 each. Should the client wish for JLW to also produce confectionary/the guest book/the table plan then a quote can be provided on application. JLW delivered this service as an ‘add-on’ for a clients wedding in December 2017, at a cost of £170. This is competitive pricing for the hire of quality, unique pieces. The pricing is comparable to what is currently available in the area but of a completely different style. For example, there are numerous companies offering ‘candy carts’ or ‘rustic postboxes’ that are marketed at a similar hire cost, however these items have had their day in terms of wedding design and there isn’t a modern, unique alterative within the area. The items that JLW stocks are perfect for a modern, eclectic wedding – suiting the industrial chic trend, minimalist trend and the rejuvenated vintage trend (classic pieces with modern styling, rather than the hessian and jam jar trend that was popular for many years but has since died down). As the hire portfolio grows to include glassware, tableware and accessories – pricing will remain competitive, just slightly higher than its local competitors. Potential clients will select JLW over its competitors since it will be able to cater to the latest trends. Example pricing: Eames or tolix chair: £4.50 each Quality real wood 6ft table: £10.00 each Quality table runners in chiffon or cotton: £10.00 each Coloured wine goblet: 10 for £2.50

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Local competitor (The Hire Co) pricing, for similar items: Chivari or cross back chair: £3.50 each Standard trestle table: £7.50 each White linen tablecloth: £9.50 each Standard white wine glass: 10 for £2.50 Services – Inspire This is a complimentary service, available to anyone via the JLW website and publicized via the JLW social media platforms! JLW writes engaging, insightful and honest blog posts which are available to anyone but aimed at the bride and groom who are embarking on, or are currently in the wedding planning process. They will also be interesting to the fellow wedding industry supplier, as well as to ‘working mothers’ since they will cover lifestyle topics such as juggling the home/life balance as well as topics such as ‘Wedding trends for 2018’. The Inspire service will also include a review of JLWs collaboration in styled shoots, as well as summaries of real weddings. Its goal is to inspire the bride and groom to be, and to empower them to plan their wedding, their way. Finally, the inspire service will include a series of events organized by JLW and hosted at its showcase unit. In the interim between now and the opening of the showcase unit, a local facility will be used for such events; Shed. This is a creative space in Felinheli which currently hosts collaborative community projects, vintage flea markets, comedy evenings and workshops as well as being a base for a local photographer and some graphic designers. The events will be set up as an alternative to a traditional wedding fayre. The best suppliers in the area will be invited along to create a ‘real life’ wedding set-up, styled to the highest specification and showcasing the latest trends in floral design, stationery and table scaping. High end caterers and alternative catering companies will serve canapes and food, and the very best photographers, videographers and cake makers will be on hand to answer questions and showcase their work too. Finally, a bridal boutique from the area which stocks the most suitable gowns for the JLW ideal client will organize a catwalk of their collection., accompanied by music from the best bands in the area. This will be a one stop shop for all of the modern bride and grooms wedding needs. The event will be free for potential clients to attend, and the suppliers will collaborate with JLW on the project without cost since they will see it as an opportunity to showcase their businesses too. JLW will benefit from having inspired potential clients and demonstrating its ability to bring together all of the best suppliers in the area to put on a great event; thus, resulting in new clients coming on board. As the events become more popular, JLW will look at charging a supplier fee to cover costs. This will be a small amount, for example £50 each. This will be very attractive to suppliers, the largest competitor for Wedding Fayres; Celebration Events charge £175 for a traditional ‘stand space’ at their largest Wedding Fayre.

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Long term plan and success criteria JLW’s goal is to be seen as the go-to wedding styling and planning company in the North Wales area for the creation of sophisticated, trendy weddings, all of which are unique and designed to reflect the personalities of the happy couple, whilst also being identifiable as a ‘Jade Leung’ wedding due to its effortless style with a touch of quirkiness. Couples who work with JLW will find the whole planning experience to be enjoyable, and they will feel comfortable and confident that their dream day will be realized. Since all packages require Jade Leung to be present on the wedding day itself, there is currently a limit to the number of weddings that JLW can take on at a time. This adds to the exclusivity of the brand, and potential clients will recognize that early booking is required. Contacting JLW will be as important as booking a wedding venue! As the Company grows, and multiple enquiries are being received over the same wedding dates, a Wedding Coordinator may need to be employed. In all cases, only one ‘full wedding planning’ package will be booked on any one date, and this will always be managed and attended on the day by Jade. Hiring a wedding coordinator will enable a lower package client (such as the On the Day client) to be looked after by Jade during the planning process and then by a fully trained, briefed and entrusted employee on the wedding day itself. JLW’s long-term plans also include increasing the hire portfolio to include tableware and accessories, and opening a showcase unit – where future brides and grooms can come in for meetings, view latest styling trends, plan their wedding with JLW, as well as hire from the extensive stock. The showcase unit will also be used for alternative wedding fayre’s and celebrations. A 5-year plan is forecasted to get to this point. It will entail a gradual build-up of props, starting with the current stock of up cycled dressers, bureau’s and tables and steadily increasing to include chairs, glassware, tableware and accessories. A gradual build up of stock is required since JLW has one sole investor, and so profits will be used and reinvested in this method. The success criteria will naturally be measured by the number of weddings delivered and the number of future weddings booked in the diary. But also, will be measured on factors such as maintaining a good Search Engine Optimisation (SEO) and having a high engagement level within the Inspire section of the website and a strong social media following. Success will also be measured by peoples understanding of JLW’s business, and what it offers and by their acceptance that a wedding planner is not an unneeded expense. A wedding planner will appear on the ‘to book’ list as frequently as a photographer would be, for example. The vision for the future – What will JLW look like in 2023?

Fully operational unit where bridal consultations and supplier meetings can be held. The unit will also house a large stock of hire items, many of which will be out on display and

demonstrating various styling options that are currently on trend.

The unit will also be used to host celebrations, open days and events as well as collaborative projects with fellow industry professionals, such as styled shoots.

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The JLW website will be refreshed and will clearly define the three areas of business; plan, hire, inspire. The website will be modern and representative of my brand. It will feature

many real-life weddings and styled shoots in its portfolio and have a successful blog attached to it. The copy will also embody Jade Leung’s personality and will engage with its dream

client, rather than being a more corporate driven message.

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MARKETING PLAN

Market overview, size and trends The average spends on weddings in 2017 varies from £15,000 to £36,000 with 13% of the wedding market opting to get married within a non-traditional location; marquees, outbuildings, or within their home grounds for example, all venues that will tend not to have wedding coordinators in place. These sorts of venues are often referred to as DIY wedding venues, and will notably require the couple in question to do much more planning themselves. For example, they will need to bring in wedding venue structures, caterers, lighting and sound professionals, toilets, power and so on as well as the usual suppliers such as florists, cake makers and photographers. The DIY wedding is often seen as a more cost-effective way of planning a wedding, but the time involved in the planning process is much greater, these are therefore much more likely to require a wedding planner to come on board. The DIY wedding is the most popular choice for a couple who want to stamp their own personality on their wedding, and so they are also more likely to contact a professional to assist them with this. There are various venues across North Wales that would be classed as the ‘non-traditional venue' and will therefore require the involvement of a planner or stylist, unless the bride and groom have a lot of spare time on their hands. This is not to say that JLW will not attract those getting married within traditional venues. Of the enquiries and confirmed bookings made with JLW so far, there has been an equal split between those who have opted for a traditional wedding venue; Hotels and Country Manors which have their own in-house wedding coordinators and the non-traditional venues such as Converted barns and camp sites. The difference between the enquiries is on the level of assistance that the potential client is looking for, and for this there has been a clear difference. Those who have opted for non-traditional venues are looking for Full Wedding Planning, whereas those who have opted for the traditional venue are looking for On the Day support, or a bespoke service where styling and specific supplier sourcing is required. There are 65 wedding venues within Gwynedd, Anglesey and Conwy (the Counties in North Wales closest to JLW’s base) ranging from hotels to Country estates. There are no clear statistics regarding the number of weddings each year within the target area.

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SWOT Analysis Customers Target market

Strengths

• Experience in delivering large scale events, with large budgets.

• Integrity and professionalism.

• No shareholders in the business and therefore no interference with business direction.

• Creative mindset

• Strong connections with high end wedding suppliers within the area.

• Recognition from fellow industry professionals as the go-to wedding stylist for collaborative and innovative projects.

Weaknesses

• New to wedding industry.

• Experience and reputation relatively unknown in North Wales.

• Funding is solely from Jade Leung meaning that growth is slower than financially backed competitors.

• The business is based on Jade as the planner and therefore limited scope for large scale development without getting staff.

• Quality styling prop hire are having to be sourced from England and further afield. Therefore, increase costs due to delivery.

• Non-traditional event structures e.g. Geo-Domes also sourced from further afield.

Opportunities

• No direct competitors in my area who specialize in design and styling, as well as having vast event planning knowledge.

• New ‘DIY’ wedding venues opening in North Wales.

• Develop the hire side of the business

• The rise of home based wedding reception celebrations.

• Destination weddings.

Threats

• Rival company start-ups.

• Other hire companies who are established and have capital to invest in new equipment/props to hire.

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Target market North Wales is an area of outstanding natural beauty and beautiful scenery. A large proportion of brides get married within their local village or within a 15-mile radius of where they grew up. Of these local women, my target market would be those who don’t have time to plan their own weddings and/or who have disposable income available to create their dream wedding. Equally, North Wales attracts people from large Cities around the UK, as well as further afield. For this group, my target would be the professional, high earners. Within these groups there are certain types of brides/grooms to be who would select my brand over a different wedding planning company. These I would describe as my dream client;

The modern couple; the bride and/or groom who appreciates the romance of a wedding but who wants their wedding to truly reflect their personalities in a fun and creative way. They will be looking for modern styling with a quirky twist!

The dream client will not want to recreate what they have seen in other weddings,

and will not feel that they ‘should’ have something in their wedding because someone else did. They will truly be creating THEIR dream wedding.

The dream venue to work on would be a complete blank canvas. A tin shed, a warehouse, an art gallery, a space where we can really be creative together.

The dream client could typically be described as the following types of people:

GROUP ONE: Female, aged 23-36 living in North Wales Professional women – In full time employment; with little spare time Annual income of 20,000 – 40,000 (mid/high within North Wales)

GROUP TWO: Female, aged 23-36 living in London or other large Cities away from North Wales who want to get married in North Wales Professional women – corporate executives and/or business owners Annual income of 30,000 – 50,000 (mid-range within Cities but high in comparison to North Wales)

Creative Fashionable Trend setter

Free spirit

Modern Wedding blog readers

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Competitor analysis There is no direct competition within the North Wales region, nobody offers the same high-end wedding planning service that JLW does. However, below are 3 companies identified, who are also operating within the area, and that offer similar services, or that may attract the same target market as JLW. Competitor A: Events by Caroline Louise WHY? Events by Caroline Louise is more known in the wedding industry in North Wales than I currently am. She has recently shifted her focus to ‘Bella the Prosecco Van’ which is a converted van offering drinks reception services for weddings and events. She doesn’t seem to be promoting ‘wedding planning’ as a service anymore, but she does still appear in a google search as such. Although she has many years’ experience within the industry, there isn’t much visual evidence to be found of her previous work, and she doesn’t seem to have any styling elements to show, more behind the scenes planning. There are no visible pricing structures for her services, all are price on application. Competitor B: The Hire Co WHY: The Hire Co has been established for over 25 years and is the go to company for hiring anything from tables and chairs, glassware and crockery, linens and napkins right through to industrial dishwashers. They do a huge amount of business within the wedding industry, particularly due to the rise of DIY weddings. Their brand, however is tired and dated and their stock is also quite unfashionable. For example, for chair hire they have Cheltenham chairs and Chivari chairs, which are quite dated and also are suited to a certain style of wedding – more regal/opulent and perhaps suited to a Hotel venue. My preferred hire stock would be items such as eiffel chairs, a collection of mismatched cross back chairs (all different colours) and good quality solid wood benches. Similarly, with their glassware, crockery and linen ranges – they are dated and more mass market than stylish. I would stock coloured goblets, charger plates and quality linens such as silk chiffon table runners and high-quality cotton napkins. Competitor C: Celebration Events WHY? Celebration Events host ALL of North Wales’ independent wedding fayre’s. This includes a series of fayre’s at various venues in the region, as well as the all-region event which is currently held at Venue Cymru, Llandudno and attracts around 400-500 potential clients. It is attended by the majority of wedding suppliers in the area. Celebration Events’ wedding fayres are somewhat dated. The set-up is in need of a refresh, and the clientele that they attract are not the ideal JLW client; they are more traditional hotel venue clients who aren’t looking for design and planning assistance.

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Competitor Analysis

JLW Strength Weakness Competitor A

Competitor B

Competitor C

Importance

Branding Strong brand. Resonates quality and is recognizable. Brand message is consistent across all channels.

YES NO Branding is a little confusing, Are they wedding planners or drinks service providers?

Weak brand, dated. Pricing information and brochures are old.

Dated brand – aimed at traditional weddings.

1

Marketing No budget thus far for marketing. Social media marketing is strong. Content is inspirational as well as factual. Strong blog.

YES NO Active on social media. Notable marketing campaigns around the launch of the prosecco van.

Virtually no marketing. All business seems to be on word of mouth and reputation. Weak presence on social media.

Active on social media, quarterly marketing campaigns ahead of their major events but relatively quiet for the rest of the year. No inspirational content.

2

Service JLW offers a bespoke service based on the clients’ needs. JLW also offers quality in the way that it operates and in the end result that it delivers.

YES NO They offer a quality service in terms of the new side business; the prosecco van. No information readily available in terms of the services they offer in wedding planning.

They have a vast catalogue of furniture and items available to hire. Seem to have most bases covered except decorative accessories that add style or individuality to a wedding.

Based on mass market – no bespoke offerings.

1

Expertise Although new to the industry JLW is quickly proving expertise in styling by becoming published in well-respected wedding blogs. Planning expertise is also being

YES NO 17 years in the industry – but this isn’t evident visually. No gallery of previous events and not many reviews.

Long standing Company and therefore expected that they have expertise. No expertise shown in modernizing the company to match todays trends.

Have hosted wedding fayres successfully for many years. Have expertise in what they do but haven’t adapted to modern trends and methods of communicati

2

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proven in the weddings that I am managing successfully.

ng with brides and grooms. Reliant on old formula and no competition.

Reputation New to the wedding industry and so just beginning to build reputation. However, 7 years of experience within the events industry and experience of delivering events across Europe.

NO YES Good as far as can tell. Has god contacts with business networking groups.

Currently the go to company in the area for hire items. They have a good reputation and are well known.

A good reputation, but they have never faced any competition in the industry.

2

Location Based in Llanrug, Caernarfon. All main wedding venues are reachable within 45 minutes-1 hour maximum and travel routes are straightforward.

YES NO Based in Conwy – good location. Closer to North East Wales than JLW and so if delivering wedding planning could compete for clients getting married in Wrexham area.

Based in a rural location on Anglesey. Difficult for some clients to get to them, but they offer a delivery and collection service to combat this.

Have several small fayre’s in various venues across North Wales, none of which are JLW targeted venues. The main event at Venue Cymru is a great location; accessible from all over North Wales and beyond and large enough to host a large-scale event.

3

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Niche market JLW’s talents and passion: styling and meticulous planning Customer needs: beautifully designed weddings with personal touches throughout, and a stress-free wedding planning experience JLW’s niche is planning and styling a wedding for the modern couple, who have busy lives and don’t want the stresses involved with wedding planning to take away from their enjoyment of being engaged. They want a stylish wedding with gorgeous styling but haven’t got the time or resources to pull it off on their own. How to stay ahead of the competitor – offering something more! Potential clients will contact JLW over their competitors due to: Design and styling is an integral part of JLW’s work. Clients will receive detailed proposals which include mood boards and inspiration boards as well as detailed plans of how we will achieve a certain look or theme. Each consultation will be followed up and an online individual client pack will be kept for all couples, including images, notes, contacts and current budget updates so that they have a readily available resource should they wish to check on progress at any one time.

Creativeness and Styling

ability

Positive planning

experience

Experience in the industry

Reviews and recommendations

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Each client will have a personal relationship with Jade, who will demonstrate great attention to detail from the very beginning. There is no limit on the amount of contact that a client can make with JLW, however this must only be via email or telephone. Clients will also be informed that whilst contact is limitless, there may be some delay in replies due to commitment to clients. Nonetheless, all contact will be replied to in a timely manner. Clients are effectively investing in Jade as a service and so the relationship between the client and Jade must be a positive one. Jade herself has built a reputation for delivering high quality events, with excellent attention to detail. She is experienced, supportive, honest and calm. Any future employees of JLW will be required to work to the same high standards and to embody the same qualities. This is imperative to the brand. JLW works with the very best suppliers in the area, and is able to quickly identify the most suited suppliers for each wedding in order to create the look that the client wants to achieve. There is no ‘mark-up’ added on to suppliers’ costs for JLW’s benefit and this transparency will sit well with the client. JLW will be with the couple right from the beginning, from concept design to sourcing, and of course on the day. This is a more personable approach than a traditional planning and/or hire company, couples can relax in safe hands. The Future The Wedding industry is a growth industry, 42% of wedding vendors reported more bookings for 2018 season compared to the 2017 season, while 34% reported the same volume. Equally so, there is an increase in the number of DIY weddings, wedding weekends which stretch the celebrations over a number of days and typically include the whole wedding party staying at the venue for a whole weekend, and also an increase in the more designed focus weddings. This is all great news for wedding planning companies. There is a trend however, for couples to get married later in life often after they have started families. This is having some effect on budgets, with them becoming smaller and managed by the couple themselves rather than by parents of the couple as is more traditional. 68% of vendors report that couples are funding the majority of their own wedding expenses now. Whilst this can mean reduced budgets, it also sees a trend towards the couple in question having to do more of the planning themselves, with less outside opinion and contribution. They are therefore more likely to know exactly what they want but have less time available to make it happen alone. Average wedding budgets have been steadily increasing over the years. Should this trend stop in the future, and budgets either stay at a certain level, or decrease, JLW will need to ensure that the current pricing strategy still works.

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Marketing strategy Brand recognition JLW has a strong brand. Its logo is simple, a ‘J’ on a circular purple background. The circle has a watercolour effect and is not perfectly complete, giving it a relaxed feel. The darker shade of purple also resembles a figurehead which is synonymous with quality. The company sits as a high-end service provider and its pricing will reflect this. The company will utilize social media as a means of generating interest. From the above identification of customer base, much of them will be using social media to search for trends within the market and for various suppliers. 43% of vendors have reported social media as their primary resource for bookings, 32% reported Google as their top resource, 16% pointed to client referrals. Sponsored blogs and posts on the main social media platforms; Facebook and Instagram will be used to target newly engaged potential clients via their intuitive algorithms which identify users who have recently changed their relationship status. Other means of reaching the target market is via the company website which comes up on the first page of Google, under a search for ‘North Wales wedding planners’. Ensuring that this website is regularly updated with new content such as the blog and the gallery will maintain the sites high ranking. The posted blogs will also include direct hyperlinks to other high-end suppliers within the area, and likewise JLW will look to feature on those websites too so that traffic can be generated via other suppliers’ sites and not just specific google searches. Additionally, a local network of the area’s high-end suppliers, including JLW has recently been formed and is actively promoting each other’s businesses. This is working in a vendor referral format but there are currently no financial implications. The companies involved are:

The Silk Loft Bridal Boutique Heledd Roberts Photographer Fox and Bear Photographer The Function Hub Entertainment agency Hayley’s Piped Dreams Cake maker Ivy, Pip and Rose Florist Luna Flower Florist Rosehip and Wren Florist Rhiannon Pritchard Make-up artist Alexandra Ellen Make-up artist Kay Evans Make-up artist Ypdws Elin Wyn Hair stylist

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The websites blog posts, and the social media platforms will inspire individuals to engage with the brand and its services. Those who then decide to connect with the brand will each receive a speedy response by means of a friendly reply message, and then a telephone call or a face to face meeting arranged soon after. Every consultation will be in person, direct with Jade Leung to reflect the high-end nature and personal service of the company. The closing of sales so far has all been made following a face to face consultation. Although this is the more expensive ways to sell, for this type of business it is important that face to face is used as the customer is effectively paying for Jade Leung herself as a service. Other channels that the company will seek to use to approach customers and get those who have not approached the company by means of its social media and website is to attend to Wedding Fayre’s to increase brand recognition within the area, generate further interest and connect with other suppliers within the industry. As previously identified, the wedding fayre’s currently available in the area don’t perfectly suit JLW’s business, but they will serve well to get the brand out there and increase its presence on social media. In time, JLW will have established an alternative wedding fayre of its own. JLW is open to collaborative projects with fellow wedding industry suppliers, as well as those working within industries such as fashion, jewelry and interior design. JLW will continue to network and increase her brand recognition within the area by attending events such as the Network She conferences which target local business women. Education is also important to JLW, and attendance on courses which will develop creativity, skills and business acumen will be sought. A huge opportunity for attracting new clients is via customer referrals and reviews. The wedding industry thrives on this, a clients wedding is the biggest day of their life – a supplier who makes this memorable and positive for them is sure to benefit from the client telling their friends and family how good the service delivered was. Wedding guests who are impressed by the styling, details and smooth running of the day are also likely to talk about the wedding suppliers involved. They themselves could become future clients and so it is imperative to think of each wedding as an additional business opportunity, with bigger impacts than any wedding fayre or networking event could ever give.

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THE SALES PROCESS Inquiries are currently being received via the following means:

- Direct website inquiries (using the online contact form) - Telephone/Email inquiries as a result of finding website - Messaging direct via social media accounts (Facebook and Instagram) - Telephone/Email inquiries as a result of following social media accounts

All inquiries are followed up in a timely manner, and a complimentary telephone/face to face consultation is offered to all potential clients. At the consultation, JLW listens to the clients plans for their wedding day. What have they organized so far? What concerns, if any do they have about their wedding day? What type of wedding do they want? Have they come across any challenges so far in the planning process? JLW will use a number of techniques to sell to the bride and/or groom, but it will be done in a subtle way and not by a direct hard sell. JLW will listen carefully and be knowledgeable, responding with facts that will trigger the client emotionally. JLW will read the potential clients body language and bride/groom type and bare this in mind with the sale technique. JLW will be upfront about prices from the offset, showing confidence in them and in their value. A package will be recommended at the consultation. All consultations will be followed up via email within 1 working day, and a client pack shared. The client pack will detail a summary of what was discussed, and the reason for recommending a specific package. That package will then be detailed, and the cost confirmed. The client pack will also include a letter of agreement, detailing payment terms, cancellation terms and working practices. A 30% deposit is required to secure a booking, via direct bank transfer. Once payment of the deposit is received, a timeline of the steps from that point forward is shared. The remaining balance is due 8 weeks pre-wedding, again via bank transfer. Most contact will be via email/telephone. At least one site visit per client No limit on contact but clients are aware of having other projects and that I will answer within 48 hours (24 hours for an emergency).

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OPERATIONAL PLAN JLW currently operates from 6 Minffordd, Llanrug, LL55 4PU. This is the owners home address (owned) and will be the base for JLW up until the point where the company is ready and able to move to a showcase Unit, also local to the area. Preferable location will be Caernarfon or Y Felinheli. Meetings with prospective clients are currently held at one of three places: The Swellies: A trendy café in Felinheli, which has comfortable seating, free wifi access, complimentary water and an extensive light bites and cake menu. This is great for meetings during the day with potential brides and/or grooms to be since it has a relaxed vibe, has modern yet comfortable décor and furniture and therefore is synonymous with the typical style of the ideal client. The Swellies is also ideally placed, it is quite central within the North Wales region and has good road links to the main express way; the A55. Y Galeri: A creative hub/gallery/bar/café and office space for local businesses. Y Galeri has free wifi access, a bar and café. JLW uses Y Galeri as a meeting place should the client require an ‘after work’ meeting; after 17:30. It is open until 20:00 and is a great place for meetings as long as there isn’t an event taking place, in which case it can get loud and busy. It is located in Caernarfon, with easy access to the main express way; the A55. Wedding venue: JLW will also host client consultations at the wedding venue if that suits. The current operational set-up works well since JLW is able to extend working hours as and when required, the office is at home and so there is 24-hour access to office equipment such as laptop, printers etc. Its disadvantages are that there is no storage or display space to enable the showcase element of the business to begin just yet. A lot of time is also spent going off site for meetings and consultations, and this travelling time is taking up working time. Long term plan for business location: Option A: Showcase Unit within local Industrial park. Large enough for office space, storage space and showcase space. Also with toilets and functioning kitchen, and parking for clients. Option B: Dedicated office space within a creative space such as Y Galeri. Costs: £4,000 per year JLW creates its own marketing and promotional materials, as well as its own templates, contracts and styling proposals to be shared with clients. All social media marketing is also managed in-house meaning that everything is consistent, and updates are made on a regular basis and at suitable times for highest impact. JLW operates off an HP laptop, its files are also backed up within the cloud (personal files all encrypted). An apple iMac will be purchased in Q2 2018, and files transferred. This will make the operational side of the business more streamlined, since an iPad is used during consultations for visual purposes. Having the iPad and iMac operate off the same system means that files can easily be synced and updated whilst out of the office.

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FINANCIAL PLANNING Forecasts for next 3 years 2018 (based on confirmed bookings only): Corporate project: £33,000 Weddings: 1 x Full Wedding Planning @ £1,750 1 x Bespoke Package @ £850 1 x Bespoke Package @ £1,150 1 x On the Day Package @ £550 = £37,300 2019 Confirmed bookings: Corporate project: £33,000 Weddings: 1 x Full Wedding Planning @ £1,750 1 x On the Day Package @ £550 Forecast bookings: 5 x On the Day Packages @ £550 = £2,750 3 X Hire @ £100 = £300 =£38,350 2020: Confirmed bookings: Corporate project: £33,000 Forecast bookings: Weddings: 3 x Full Wedding Planning @ £1,750 = £5,250 3 x Bespoke package @ £850 = £2,550

5 x On the Day Packages @ £550 = £2,750 3 X Hire @ £100 = £300 1 x Hire @ £350 (100 x chairs) 1 x Hire @ £80 (10 x tables) = £44,280

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These forecasts are conservative and have taken into account that wedding planning typically begins 12-18 months in advance. A large increase is expected in Year 4; 2021 taking the revenue to £50,000. Operating costs JLW has a low operating cost at present. Using a home office means that no rental fees are paid. Additionally, the cost of working from home can be rewarded to some extent via the Self-Assessment procedure (a percentage of utility bills can be claimed back). Current costs are for travel and subsistence during meetings and site visits. Average annual cost based on last two years = £1,850. A move to a Limited Company A consideration for the future of JLW would be to move it towards becoming a Limited Company. The benefits of this would be reducing Jade Leung’s salary so that tax and national insurance payments are lower and to utilize tax saving measures such as the payment of dividends to Jade as a shareholder. A Limited Company could also offset equipment and other large purchases against the Company. This would work well for purchasing a larger car or van which would help the operational aspects of the company. Jade Leung currently relies on her own vehicle to transport transporting hire items to weddings as well as to transport props and equipment for styled shoots etc.

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APPENDIX Resources: http://www.marketingteacher.com/pricing-strategies/ http://hitched-wife.org/wedding-facts-economics/summary-stats/each-year-uk-weddings-are-worth-10-billion-pounds/ International Wedding Trend Report 2018