Business plan for a banquet hall

Share on Facebook Much of the success of a banquet hall follows the same rules as any other business. Maximize income while minimizing expenses. Advertise in tightly focused areas.

Business plan for a banquet hall

Roles and Responsibilities Chief Executive Office: Responsible for signing checks and documents on behalf of the company Evaluates the success of the organization Banquet Manager Achieves maximum profitability and over-all success by controlling costs and quality of service.

Controls of Banquet china, cutlery, glassware, linen and equipment. Completion of forecast and actual budget function sheets, Function Summary Sheets and weekly payroll input. Completion of weekly schedules. Schedule staff as necessary to ensure adequate and consistent levels of service.

Supervision of weekly schedules. Schedule staff as necessary to ensure adequate and consistent levels of service Supervision of Banquet Bar Requisitions. Responsible for Hotel Bar control policies and completion of necessary forms.

Following of proper purchasing and requisitioning procedures. Liaise on an on-going basis with the Food and Beverage Manager to ensure all client needs and requirements will be met. Works with the Chef and Head Server to ensure all arrangements and details are dealt with.

Inspection of Meeting Room prior to guest arrival ensuring that client specifications have been met. Co-ordinates the general housekeeping of the Ballroom, Lower Lobby, Lower public washrooms, kitchen, storage areas, entrance areas, etc.

Event Planning Consultant Responsible for interviewing and hiring vendors, selecting and ordering materials, negotiating rates, coordinating the sequence of events, following up with guests and vendors and producing full-scale events.

Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs. Defining job positions for recruitment and managing interviewing process Carries out staff induction for new team members Responsible for training, evaluation and assessment of employees Responsible for arranging travel, meetings and appointments Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.

Oversees the smooth running of the daily office activities. Marketing Executive Identifies, prioritizes, and reaches out to new partners, and business opportunities et al Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.

Responsible for financial forecasting and risks analysis. Performs cash management, general ledger accounting, and financial reporting for one or more properties.

Responsible for developing and managing financial systems and policies Responsible for administering payrolls Ensures compliance with taxation legislation Handles all financial transactions for the company Serves as internal auditor for the company Client Service Executive Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.

Aside from the fact that our banquet hall is well positioned and well — equipped to meet the 21st century demand of both high profile corporate and individual clients, we have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details.

We are well positioned and we know we will attract loads of clients from the first day we open our doors for business. As a new banquet hall rental and event planning outfit, it might take some time for our organization to break into the market and gain acceptance in the already saturated event planning and party rental industry; that is perhaps our major weakness.

The opportunities in the event planning and party rental industry is massive considering the number of corporate events, weddings, parties and other events that takes places on a daily basis in the United States.

As an all — round banquet hall rental and event planning outfit, we are ready to take advantage of any opportunity that comes our way.

SELECT STRUCTURE

Some of the threats that we are likely going to face as a banquet hall rental and event planning outfit operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good. This is so because such business will find it difficult to maintain its overhead and operational cost or generate enough income needed for business expansion.

In recent time, it is common to find banquet hall rental companies engage in other complimentary services such as party rentals and event planning services et al.

The event planning and party rental industry is in a continuous state of evolution and as such, ground breaking strategies and ideas that are once highly successful are no longer as productive as they were in time past. Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools.

The trend also extends to increased attention paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning events, and of course increase in demands from event sponsors. As a matter of fact, social media has now become one of the most important tools event planners leverage on to disseminate information about their events, interact with attendees, solicit feedback, and create year-round engagement with their target audience.

Furthermore, new software apps and emerging technology have made it easier for event and wedding planners to gather all the needed data and information that will help them plan and project for the future. In the United States for example, there several vendors providing mobile apps with more event planners patronizing the apps.

A Sample Banquet Hall Rental Business Plan Template

Over and above, with the invention of event apps, it is now compulsory for event planners and venue owners banquet halls to offer Wi-Fi throughout the event, in all meeting rooms.

The truth is that it will no longer be acceptable to not have Wi-Fi accessible at events; people will hardly rent halls without Wi-Fi facility. Our target market cuts across people of different class and people from all walks of life, local and international organizations as well.

We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses.The purpose of this business plan is to raise $, for the development of a banquet hall while showcasing the expected financials and operations over the next three years.

The Banquet Hall, Inc. (“the Company”) is a New York based corporation that will provide banquet hall rental and catering services to customers in its targeted market.

business plan for a banquet hall

The South Los Angeles Conference Center (SLACC) consists of an expanded venture starting with the Good Times Banquet Hall business model with two non-profit (c)(3) organizations, both practicing public benefit services since The purpose of this business plan is to raise $, for the development of a banquet hall while showcasing the expected financials and operations over the next three years.

The Banquet Hall, Inc. (“the Company”) is a New York based corporation that will provide banquet hall rental and catering services to customers in its targeted market. Sumptuous Cuisine Catering catering and ballroom rental business plan financial plan.

Check out some similar questions!

Established high-end caterer Sumptuous Cuisine Catering seeks to expand its operations by acquiring and opening a dedicated ballroom venue.

Start your own business plan» Catering and Ballroom Rental Business Plan. Caterers with banquet halls are /5(49). Much of the success of a banquet hall follows the same rules as any other business.

Maximize income while minimizing expenses. Advertise in tightly focused areas. An in-house bar is a sure moneymaker for most events and is often the largest profit center for banquet and event facilities. Revenue is higher for The Sumptuous Ballroom events due to the ballroom rental fee and greater leverage to provide additional services to lausannecongress2018.com table below presents the assumptions used in the financial calculations of this business plan.

than for revenue from off 5/5(1).

Banquet Hall Business Plan Banquet Hall