BUSINESS MODEL

The term business model refers to the company’s plan for making profit and to make their business
successful. Business models are important for both new and established businesses. They help
new, developing companies attract investment, recruit talent, and motivate management and staff.
Established businesses should regularly update their business plans or they'll fail to anticipate
trends and challenges ahead.

 MY BUSINESS
The nature of my business is a service providing business as it is an event décor company. This
type of businesses provide decorating services to the clients and charge them for these services.

 PRODUCT/SERVICE MODEL
The appropriate business model that can be applied to my business is product/service model.
Products/services models are the business models that provide for consistent delivery of products
and services to the customers.

 The Infrastructure:
The infrastructure of a business are the basic services on which the rest of the business is built. It
includes the key business activities and key resources to provide value to your customer.
 Key business activities: The main business activities of my business include:
1. Planning the decorating that are to be done for an event.
2. Organizing the event and making the things needed for decorations
available.
 Key resources: Key Resources is the building block describing the most important assets
needed to make a business model work. Key resources of my business are:
1. Facility
2. Talent
3. Capital
4. Leadership
5. Equipment
6. Knowledge
 The Offer:
My business offers the best event decoration services to its clients by fulfilling their demands and
desires, giving them decorations that make their events more memorable. My business also
provides very reasonable packages and different offers to its clients.

 Customers:
In event decor businesses there is a vast target market because every individual wants to celebrate
special occasions (birthdays, weddings, bridal showers, baby showers etc.) in their lives and event
decorators are always there to fulfil this desire. And like any other event décor business my
business also provides services to everyone, no matter what their gender is or no matter to what
age group they belong.