COLLEGE OF FINANCE, MANAGEMENT AND DEVELOPMENT

DEPARTMENT OF ACCOUNTING AND FINANCE

OPERATION MANAGEMET GROUP ASSIGNMENT

TITILE; COUPLE WEDDING CONSULTANTS (CWC) IN ADDIS

ABABA, YIKA SUB CITY

Program: weekend extension

Group members: ID NO

1. Getahun Belete ……………………………………ECSU1901157

2. moges Nigusie ………………………………………. ECSU1901152

DECEMBER, 2023

ADDIS ABEBA, ETHIOPIA

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Table of Contents

1. Company introduction.............................................................................................................................1

1.1 Mission..............................................................................................................................................1

1.2 Objectives..........................................................................................................................................1

1.3 Keys to Success..................................................................................................................................2

2. Company Ownership...............................................................................................................................2

2.1 The starting source of the Company..................................................................................................2

3. Services....................................................................................................................................................4

3.1 Some of our packages are:.................................................................................................................4

3.1.1. Pre marriage training package...................................................................................................4

3.1.2 The information guide package..................................................................................................4

3.1.3 Half service packages..................................................................................................................4

3.1.4 Full coordinator & consultancy package.....................................................................................4

3.1.5 after marriage psychological training counseling service...........................................................5

4. Market Analysis.......................................................................................................................................5

4.1 Market Segmentation........................................................................................................................6

4.2 Target Market Segment Strategy.......................................................................................................6

4.3 Market Needs....................................................................................................................................6

4.4 Service Business Analysis...................................................................................................................7

4.5 Competition and Buying Patterns......................................................................................................7

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5. Company Strategy and Implementation..................................................................................................7

5.1 Competitive Edge...............................................................................................................................7

5.2 Sales Strategy and Sales forecast.......................................................................................................8

5.3 SWOT analysis....................................................................................................................................9

5.4Marketing Strategy and Positioning...................................................................................................9

5.5 Pricing Strategy...........................................................................................................................9

5.6 Promotion and Advertising Strategy........................................................................................10

6. Our Company`s Management................................................................................................................10

6.1 Personnel Plan.................................................................................................................................10

7. Financial Plan.........................................................................................................................................11

7.1 Start-up funding...............................................................................................................................11

7.3 Break-even analysis.........................................................................................................................12

1. Company introduction
Couple Wedding Consultants is a start-up company that provides wedding, holy union, and
anniversary consulting services to brides, grooms and other family members. We are a full-
service bridal consulting group and our goal is to put the "fun" back into planning a wedding,
holy union or anniversary party. Too many people become overly stressed and frustrated when
planning these wonderful events. We are experienced and professional consultants and will use
our expertise to help create memorable and stress free events for our customers. By doing this,
our clients can sit back and enjoy their event. The result we create events suited to the couple's
unique style--a true expression of their relationship and individuality as a couple.

1.1 Mission
Couple Wedding Consultants is a full service company that provides complete consulting
services for weddings, holy unions and anniversaries. Our mission is to design and carry out
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personalized, innovative event that meet our client need and desires. In addition to that we aimed
to increase wedding consulting standards and decrease divorce rate by preparing psychological
trainings. Our staffs will be experienced and dedicated professionals with many years of event
planning experience. Couple is unique in that we give our clients our undivided attention and the
training packages we deliver before and after marriage. We listen to their needs and work with
them to create the event of their dreams. Our clients' wishes become our commands. So whether
our client wants a traditional, religious or any other type of wedding or anniversary party, we can
help. Our services include pre marriage training, weddings, honeymoons, receptions, anniversary
consultations, budget planning, answers to etiquette questions, as well as full-service referrals to
florists, hair stylists, entertainers, musicians, etc.

1.2 Objectives
Our objective is to increase public awareness of professional wedding consultants and add
positive contribution to the society by protecting the well bigness of marriage institution.
Whether this is our client's first wedding, a renewal of their promises or their anniversary, we
want every detail of their event to be both a pleasurable and a memorable experience.
Therefore, we offer a host of packages and services specifically made-to-order to the needs of
each couple. We are confident that this business venture will be a success and we estimate that
our net income will increase modestly by the second year.

1.3 Keys to Success

The keys to our success are as follows:

1. Service our clients' needs promptly and efficiently.

2. Maintaining excellent working relationship with vendors such as florists, hair salons and
bridal shops.
3. Maintain a professional image at all times.
4. Build the capacity of worker as well as owner.

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2. Company Ownership
This business will start out as a very small enterprise, owned by a partners have a good idea on
business. As the operation grows, the owners will consider re-registering as a small enterprise
and also medium enterprises, whichever will better suit the future business needs.

2.1 The starting source of the Company

The enterprise will acquire this initial capital mainly from Personal Saving and through
borrowing from finance institution.

Starting source of costs will cover office equipment like furniture, computer, printer, office rent,
employee salary, promotion expense, process of license and any other related costs

Pre and after marriage training certificate 4000

Education
Wedding Planner Certification 5000
Legal Fees legal advisor 7000
scheduling software 18000
Software
finance software 20000
Design 6000
Website
Hosting 4000
Marketing Materials Business Cards 1000

Fax and Copy Paper 1000

Client Binders 2000

Brochures 500

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 Miscellaneous (Business Supplies:
5000
envelopes, pens, staples, etc)

Letterhead 2000

TV promotion 15000

Newspaper Advertisement 4000

Advertising
Magazine 3000
Radio 8000
Potential Client Gifts 3200
Business License 16000
Insurance 5000
others Office rent 10000
office furniture 50000
Salary 14500

Estimated Total Start Up Costs 200200

2.2 Company Locations

Initially the office will be located in Addis Ababa, Yeka Sub City and for the coming years we
will expand branches in other sub city.

3. Services
We are a full-service wedding consultant group and provide the following services: protocol
advice, event scheduling, discounted invitations and products, vendor confirmation, supervision
of both ceremony and reception setup and budget planning, before and after marriage counseling
and training etc. All of our services have been strategically designed to make each clients’
special day memorable and stress free.

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3.1 Some of our packages are:

3.1.1. Pre marriage training package

This package contains all psychological, financial, emotional & religious readiness for the
couples before they decide to marriage. This helps to minimize divorce, stress and homeless
Childs.

3.1.2 The information guide package

This package is perfect for needing professional assistant only on the day of their wedding. We
consult them how to plan their wedding day. We give full information on their needs like hall
rent, decor professional, car renter, studio professionals, food and beverage suppliers etc…

3.1.3 Half service packages

This package is a great choice for those who need support on some area of their wedding day. On
this package we list down each price of wedding day activities. For example, those who need a
help on décor service only we provide their need and also for those who need menu and bar
planning we prepare the service.

3.1.4 Full coordinator & consultancy package

Are you too busy to plan the wedding of your dreams? If you are looking full support on creating
and organizing the ultimate wedding, this is the package for you. No more stress about your “big
day” by using this package we let you simply ready to go for your ceremony. In this package
starting from planning each and every activity of your wedding, invitation card preparation,
negotiating with vendors, budget planning, décor, dressing style, menu and bar planning, venue
arrangement, set up hotel accommodation for out of town gusts, security, and all necessary
activity for your wedding day. In addition for those who buy this package they will receive free
package of after marriage training events and discounted gift of marriage counseling service.

3.1.5 after marriage psychological training counseling service

This service is mainly used to build healthy and peaceful family. We provide trainings on how to
care about our child growth, managing marriage conflicts, and other psychological training will

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be prepared. In addition to this we provide counseling service for married and unmarried
couples.

4. Market Analysis
According to Central Statistical Agency, Ethiopian Demographic and health survey in
2016 42% of men and 26% women have not married, and 2% of men and 6% of women
have divorced/separated.

Addis Ababa the capital city of our country has a total population of more than 3.3 Million

people with 3.8% growth rate of population. A city has very few wedding consultant
organizations.

High amount of budget spent for wedding ceremony. Therefore, professional wedding
consultants are a mandatory, not a luxury. Couple Wedding Consultants are full-service wedding
consultants that offer a variety of services to our clients. We pride ourselves on being
professional and courteous at all times and we have packages to suit everyone's needs.

As far as marriage has growing demand in the society there are potential clients. However, we
mostly advertise to brides, grooms, and family members. In addition to that the pre marriage
training participants will become our loyal customer on their marriage.

4.1 Market Segmentation

According to Cambridge journal of Biosocial Science “Forty-five per cent of first marriages in
Ethiopia end in divorce within 30 years, and two-thirds of women who divorce do so within the
first five years”. It’s an amazing data so marriage counseling and psychological training for
couples become a mandatory so our main target customers are who need an advice on marriage,
brides and grooms need professional event organizers and those who need quality training on
marriage psychology.

Another customer segment is represented by the numerous family members and guests attending
weddings, anniversaries, and similar events. This segment requires event preparation services
like gift ideas, etiquette tips, etc.
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4.2 Target Market Segment Strategy
Couple Consultants will offer its services mostly to the brides and bride grooms, as well as to the
family members. The company will position itself as an experienced provider of wedding
planning services. Unlike most of its competitors, Couple will be offering a full range of services
and thus provide the convenience of one-stop shopping for its clients. This will significantly
reduce the customers' time and efforts preparing for such an important event as a wedding.
Moreover, by utilizing numerous supplier contacts that the company owners have established
and economies of scale, Our Wedding Consultants will be able to pass on to its customer’s
sizable cost savings.

4.3 Market Needs

The market needs for wedding planning services are strongly shaped by the customers' desire to
have a perfectly planned and executed wedding ceremony. Although major customer segments,
brides and grooms and family members, plan and budget for the wedding ceremony as far as a
year or more in advance, they often realize that they cannot make all the necessary preparations
by themselves in a cost effective manner. Strongly affected by the established social values, such
customers seek professional advice to ensure that all the important aspects of the wedding
ceremony meet or exceed perceived expectations.

4.4 Service Business Analysis

The wedding services market is categorized with seasonal service. There are numerous florists,
hair stylists, and studios to choose from. However, there are almost no companies that will
provide the full range of services associated with the wedding planning and execution including
counseling and training.

4.5 Competition and Buying Patterns

Competitive analysis conducted by the company owners has shown that there are few companies
currently offering some sort of wedding planning services in Addis Ababa. However, the
majority of the competitors offer only a limited line of services like decor, flower arrangements
or gifts, food and beverages and music DJ etc … In fact, of those competitors only few offered a

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range of services comparable with what Couple Wedding Consultants plan to offer to its
customers but no one of them include counseling and training.

5. Company Strategy and Implementation

Our strategy is simple: we intend to provide our customers with a wide range of services custom
tailored to their individual needs. Therefore, whether they require a complete package, or simply
consulting on a particular service, we can help. The second strategy is giving pre marriage
training with a fair price and a good quality let trainees to stay with us on their wedding day and
after marriage training.

5.1 Competitive Edge

By aggregating a complete range of wedding services under one roof, our Wedding Consultants
will offer its customers the ease of one-stop shopping. The company will influence its owners'
expertise in planning such events to competitively position itself as a premier provider of
wedding services. Both owners have very strong communication skills that will help develop the
telephone call about the high quality of the services offered by our Wedding Consultants.

5.2 Sales Strategy and Sales forecast

The company's sales strategy will be based on the following elements:

 Advertising in the Radio–By selecting FM Radios and programs who have more
audience, we release advertising.
 Web site and social media advertising.
 Sponsoring Graduate students considering they are near to marriage
 Placing advertisements in the local press
 Developing affiliate relationships with other service providers (florists, hair stylists,
caterers) that would receive a percentage of sales to the referred customers.
 Word of mouth referrals - generating sales leads in the local community through
customer referrals. And the company's Sales forecast will be the following;

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 Sales forecast Year 1 Year 2 Year 3
Consultancy 100,000.00 150,000.0 200,000.0
0 0
Training 100,000.00 200,000.0 300,000.0
0 0
Wedding 200,000.00 300,000.0 400,000.0
0 0
Total Sales forecast 400,000.00 650,000.0 900,000.0
0 0

5.3 SWOT analysis

Strengths
 Varity of related service
 Need based packages are available
 Committed staffs
 Affordable pricing strategy
Opportunities
 The growth of wedding demand
 Less competitors in the market
 High divorce rate easily treated by
counseling
Weaknesses
 Shortage of available cash at hand
 No branch at other cities
Threats
 Lack of commitment on professionals we
work in collaboration
 Shortage of available place for weddings

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5.4Marketing Strategy and Positioning
Our wedding consultants focus strategy on its market. By specifically targeting three
primary segments they can cater specifically to their needs.

 Young couples
We will target this market simply by our before marriage training programs and
psychological consultation service.
 Adult Bride and Bride Grooms
We will attract those customers by effectively organize their wedding ceremony.

 Families
The third targeted markets are families with in need of marriage counseling and
psychological training on conflict management , child psychology etc..

5.5 Pricing Strategy

Couple wedding consultants primarily utilize competition based pricing. Our
company does not utilize coupons and discounts (other than opening promotion)
because we believe that the most valuable customer is not influenced by discount
programs or coupons.
5.6 Promotion and Advertising Strategy
 Online Advertising - We will advertise regularly on popular social media sites, such
as Facebook. Telegram etc ... Compared to traditional print advertising, this is a cost
effective tactic that will allow them to reach prospects in a highly targeted way (e.g.,
based on criteria such as age, gender, geography, etc.).
 Web Site - We will develop a simple Web site, which will provide basic information
about the business, the packages, and links to their presence on the aforementioned
social media channels.
 Radio Advertising - During the first six months of operation, and during the wedding
season, the business will advertise on local radio stations.

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6. Our Company`s Management
We have planned to higher professional and experienced wedding planner, psychiatrist, trainers
and sales, interior decorator. Our wedding consultants are knowledgeable about all areas of
planning, decorating, as well as budgeting.

6.1 Personnel Plan

Initially, our Wedding Consultants' personnel will hire one psychiatry1, wedding planner1,
interior decorator, and two sales person including Manager.

Monthly salary year1 year2 year3

Manager 6500 78000 97500 113100
Consultants' 2500 30000 34500 37950
Planner 2500 30000 33000 36630
Decorator 1000 12000 13200 16500

sales person 2000 24000 30600 46380

Total 14500 174000 208800 250560

7. Financial Plan
The following sections lay out the details of the financial plan for the future years.

7.1 Start-up funding

This business plan is prepared to obtain financing as follows;
 Birr100,100 from Commercial loan
 Birr100,100 of personal savings from the owner7.2 Projected profit and loss
Profit and Loss Year 1 Year 2 Year 3
Sales forecast
100,000. 150,000. 200,000.
Consultancy 00 00 00

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 100,000. 200,000. 300,000.
Training 00 00 00
Wedding 200,000.00 300,000. 400,000.
00 00
Total Sales 400,000. 650,000. 900,000.
00 00 00
Expenses Forecast
Payroll 174,000. 208,800. 250,560.
00 00 00
60,000. 60,000. 60,000.
office rent 00 00 00
20,000. 30,000. 40,000.
Legal Fees 00 00 00
- 20,000. -
Software 00
10,000. - -
Website 00
20,000. 30,000. 40,000.
Training Materials 00 00 00
100,000. 40,000. 30,000.
Advertising 00 00 00
20,000. 30,000. 50,000.
others 00 00 00
Total Expenses 404,000. 418,800. 470,560.
00 00 00

Total Sales 400,000. 650,000. 900,000.

00 00 00
Total Expenses 404,000. 418,800. 470,560.
00 00 00
Profit (4,000.0 231,200. 429,440.

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 0) 00 00

7.3 Break-even analysis

According to our calculations the expected break-even date will after 6 days of the second year.

Daily Profit 231,200.00/365= 633.42

Total Loss 1st year 4,000.00
Loss divided by daily
profit 4000/633.42=6.31
Conclusion
After 6days in the second year break-even will be accomplished

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