Bus 591 Assignment 1
The Gardens on Marsh Business Plan
Entrepreneurship and Innovation
BUS 521
April 27, 2013
In 2012, it was reported that there were an estimated 49,640 weddings in the Dallas-Fort Worth area (snapshotpod.com). Popular wedding website theknot.com, lists 151 wedding venues for this same area. The wedding venue market is popular as well as very competitive. The Gardens on Marsh is prepared to enter this market. The Gardens on Marsh is a six-acre wedding and reception venue. The property boasts a wedding chapel and two ballrooms offering space for up to 300 guests. The ballroom spaces can also be used for holiday parties, quinceaneras, bar and bat mitzvahs, and any other celebrations. The Gardens on Marsh will partner with various local vendors in order to provide an array of options to our clients.
Mission
We are committed to providing our clients with the wedding or event that exceeds their expectations.
Vision
The Gardens on Marsh vision is to provide our clients with the most memorial event using the best vendors all at a competitive all-inclusive price.
The Wedding Industry With more than 2.5 million weddings per year in the U.S. and an average budget per wedding of nearly $30,000, according to The Wedding Report, Inc., the wedding event rental industry has always thrived. It is estimated that between $40 and $90 billion is spent annually on American weddings. For reception site rentals, an average of $8,000 is spent per event, with rentals being much higher in major metropolitan areas of the northeastern U.S., according to a study compiled by Jaeger Interactive Communications. The average cost of a wedding in the Dallas- Fort Worth area is $28,055, with the wedding venue and catering costing an average of $11,072, or 39% of the total cost. Opinions vary on the effect of recent economic conditions on the U.S. wedding industry. The wedding industry may be recession-proof, but wedding budgets are not. Some analysts predict that wedding
Entrepreneurship and Innovation
BUS 521
April 27, 2013
In 2012, it was reported that there were an estimated 49,640 weddings in the Dallas-Fort Worth area (snapshotpod.com). Popular wedding website theknot.com, lists 151 wedding venues for this same area. The wedding venue market is popular as well as very competitive. The Gardens on Marsh is prepared to enter this market. The Gardens on Marsh is a six-acre wedding and reception venue. The property boasts a wedding chapel and two ballrooms offering space for up to 300 guests. The ballroom spaces can also be used for holiday parties, quinceaneras, bar and bat mitzvahs, and any other celebrations. The Gardens on Marsh will partner with various local vendors in order to provide an array of options to our clients.
Mission
We are committed to providing our clients with the wedding or event that exceeds their expectations.
Vision
The Gardens on Marsh vision is to provide our clients with the most memorial event using the best vendors all at a competitive all-inclusive price.
The Wedding Industry With more than 2.5 million weddings per year in the U.S. and an average budget per wedding of nearly $30,000, according to The Wedding Report, Inc., the wedding event rental industry has always thrived. It is estimated that between $40 and $90 billion is spent annually on American weddings. For reception site rentals, an average of $8,000 is spent per event, with rentals being much higher in major metropolitan areas of the northeastern U.S., according to a study compiled by Jaeger Interactive Communications. The average cost of a wedding in the Dallas- Fort Worth area is $28,055, with the wedding venue and catering costing an average of $11,072, or 39% of the total cost. Opinions vary on the effect of recent economic conditions on the U.S. wedding industry. The wedding industry may be recession-proof, but wedding budgets are not. Some analysts predict that wedding
References: Associated Press. In sour economy, say “I do” on the cheap. Retrieved from http://www.today.com/id/26721403#.UX3cYWYo6c0 Snapshotpod. Dallas/Fort Worth wedding statistics. Retrieved from http://www.snapshotpod.com/photo_booth_rental_blog/dallas-fort-worth-wedding-statistics The Knot. Retrieved from http://www.theknot.com The Wedding Report. Retrieved from http://www.theweddingreport.com/wmdb/index.cfm?action=db.viewdetail