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BACHELOR IN BUSINESS MANAGEMENT (HONS) ENTREPRENEURSHIP

FINAL YEAR PROJECT

THE BUSINESS MODEL CANVAS OF YOURS TRULY A

PROPOSED BUSINESS: CHANTIQUE SPACE & EVENT

Prepared by : Aina Afifah Binti Abd Rahman

Matric Number : 2017156121

Class : BA231 6L

Advisors : 1) Madam Nini Hartini Binti Asnawi

2) Madam Fazalina Binti Salleh


INTROUCTION

Chantique Space & Event is a business under the company of YTA Enterprise. It is a partnership
business type and is owned by two partners, who are the founder and the co-founder. The
business offers a rental of functional space and rooms and also provides other event needs. The
location of functional space is at Taman Perindustrian Alam Jaya, Puncak Alam. The aim of this
business is to become one of the earliest and the monopoly of event space that operates in
Puncak Alam.

Since Puncak Alam is now in the process of massive developments in residential, business shop
lots and other properties, we have decided to take the opportunity in owning a business asset
here. Hence, here comes the idea to open an event space at Puncak Alam since there is little
competitors running the same business. Besides that, based on our observation, we believe
that our business has high potential in the market since we are close to other neighborhood for
examples Saujana Utama, Meru and Sungai Buloh. Although in those area already have few
event space, but the uniqueness and concept that our company offers give us more advantages
compared to others.

The uniqueness that is offered by our service is that it has several packages for every functional
rooms we have. The rooms consist of seminar rooms, small hall and large hall. The packages are
subject to be changed according to clients need either to rent with ‘ala carte’ or to rent with
additional services that we offer. The additional services are photographer, catering, event
planner, event decorator, professional sound system and lighting, tent, coordinator team,
candy booth, photo booth, emcee, table and chair arrangement, homestay and event
coordinator.

As a start-up business, we are aware of the market fluctuations condition and financial
constrain. Furthermore, Chantique Space & Event is located at a factory outlet building that is
enough to place 300 people in the building. So, the cost for building rental, renovation and
decoration is expected to be the biggest expenses in managing this business. Due to that, we
plan to run it by stages since the building is divided into two areas which is the front area and
the back area.
YTA Enterprise has 4 permanent staff including the founders. As a small business, the founders
themselves involve in several managerial part and played an important role as the
spokesperson of the company. Another two permanent staff helps as the assistant of the
founders and also serves as in their stated positions. Meanwhile for the rest of the staff are the
part-timers and the freelancers that will only work for a certain period and session.

Our target market are definitely the residents of Puncak Alam with medium to high income
level. The main targets are the ‘soon to be married’ couple so that they can do their
solemnization and reception event at Chantique Space & Event. Next, our target are UiTM
members and schools in Puncak Alam and Saujana Utama that want to hold a workshop,
seminar or talk event by using our Seminar room. For further planning, we would like to
collaborate with UiTM Puncak Alam in providing job opportunities to the students. We offer the
students who have skills and talent in emcee, photography and event management to become
a part of our team as a freelancer to experience the real working surrounding.

The overall total start-up cost for the business is RM570 400. The source of finance comes from
the founders personal saving (RM15 000) per person and the balance of RM540 400 are from
our angle investor (RM162 120) and loan (RM378 280) from Perbadanan Usahawan Nasional
Berhad (PUNB).
BUSINESS MODEL CANVAS

1) Key Partnership

Key partners can the network of suppliers or other partners that make the business work.
Companies will usually create partnership with other businesses to optimize the business,
reduce risk and to acquire resources that the company do not have.

For YTA Enterprise, we have several partners to support the business and the partners are:

A. Fahrenheit69/ Sidah Catering/ RJ Events KL

These companies are the panel of suppliers for chairs and tables, tents and crockery sets. The
supplies are mainly for custom packages which is personalized for every clients according to the
event theme and needs. Hence, our company need to outsource the supplies to save the
inventory cost and storage space. These three companies were chose to become our panel of
suppliers due to their portfolio and ability in providing a good services and networks.

B. Sidah Catering/ Sajian Asnah Catering/ Nasi Arab Tareem 99/ Noriz’Qi Catering &
Event/UiTM Hotel catering

The listed companies are the panels of catering services for YTA Enterprise. The reason to have
5 panels on the list is to give choices to clients to choose their preferred caterer and menus
especially for wedding event. This is because some of the caterer has their own signature
servings. With that, it will give more satisfaction to customer in making selection on their
event’s menu and at the same time help to ease the company’s management and the panels
itself to avoid job redundancy.

C. Fahrenheit69/ Orchid Wedding Planner/ Butik Pengantin Marlynn Afzan

These companies are the panels of Wedding Planner and Decorators. It is for clients who wants
to hold event such as wedding and other special events that needs extra decorations and set
ups in the rooms or hall that we provide. These three companies are the experts in wedding
industries and has different end services due their profile and ratings. Fahrenheit69 offers a
high-end services with a medium to high price range while for Orchid Wedding Planner and
Butik Pengantin Marlynn Afzan offers medium to high-end services with price ranges as
medium to high price range. Other than that, the other reason to partnership with these
wedding planners are to supply their clients to our event space. Since these wedding planners
has built their name in this industry and has their own followers, they can promote Chantique
Space & Event to their clients as well.

D. Audio Synergy Projects & Concepts Digitalite Sdn Bhd (ASPCD)

Based in Shah Alam, this companies are the expert and the main suppliers in audio and lighting
for events. They have vast experience in many event and experienced in a big project like
awards ceremony, concerts and government events for supplying the audio and lighting. YTA
Enterprise gets the supplies from this companies for the rooms and hall basic audio system
equipment and lightings which is to be installed as permanent assets in Chantique Space &
Event. While for extra lighting and audio effects will be install when only it is needed in an
event.

E. Deluxe Homestay Puncak Alam/ Homestay Az-Zaharah/ Sentrovue 3R2B Homestay/ Caseh
Homestay Sentrovue Puncak Alam

These homestays are located in several Puncak Alam areas which are in Alam Jaya, Fasa 2 and
Fasa 3 which is not far from Chantique Space & Event. Our service offers a homestay for clients
who would like to have a space or room to rest or may be for the ease of their guests or
relatives who comes from other places. The choices of homestays depends on the number of
guests that will be fitted in the house and also by their own preferences too.

F. UiTM staff and student

Since the location is near to UiTM Puncak Alam, YTA Enterprise has another advantage in
sustaining and ensuring that the event space will continuously get supports by providing a
special packages for UiTM citizen. Not only providing a special packages, the company also
offers for job opportunity to the skilled and talented students to join the team as a freelancer.
By offering this opportunity, it is hopefully give benefits to both party where the company can
set its own service price and as for the freelancers, they get to make new working experience
and at the same time to add more collection on their portfolio.

G. Faculty of Hotel and Tourism Management (UiTM)

A collaboration with Faculty of Hotel and Tourism Management is one of our initiative to
enlarge our networking and maintain a good relationship with UiTM. This collaboration will
focus more on space and catering collaboration. We see that UiTM Hotel has demand for its
banquet hall and sometimes, early reservation is needed to block the hall. So, with this
collaboration, we can be the partner of UiTM Hotel for offering more event space at Chantique
Space & Event. Other than that, we can also collaborate with the catering package from UiTM
Hotel as it offers the same need in this business industry.

2) Key Activities

Key activities of a business represents on what the company must do to ensure the business
model work. It is also associated with the things that we do to add value in our business.

For YTA Enterprise, the key activities are:

A. Direct marketing and sales

It is mentioned earlier that YTA Enterprise has 4 permanent staff who played various roles and
responsibilities in running Chantique Space & Event. In conjunction with that, our business
conduct a direct marketing and sales by becoming the spokesperson, the promoter and the
salesperson of the company itself. Our business protocol that applies the ‘keep in touch’ with
clients from the beginning until the end of the project timeline method lead us to create a
strong customer trust and relationship. Other than that, we believe that Chantique Space &
Event will get indirect recognition and marketing when our client’s guest who come to the
event space. The recognition will be in a direct way which they experience the space
themselves or through an indirect marketing which the guests share their picture postings
through social media and mention the event space or the location.

B. Social media & Online advertisement


It is a very mainstream platform for a business to create its own social media but at the same
time, this platform give much exposures and opportunity to the business to reach more
potential clients. Same goes to YTA Enterprise, social media platform like Instagram is created
to present some portfolios of the event space so that it can be seen by the public who visits our
Instagram profile. Next, the reason to enter a social media platform is to utilize the online
advertisement facility through Instagram ads and Facebook ads to get recognition from the
users. However, we are aware with the advertising cost that will be charged if we proceed with
this online advertising method. Due to that, we are also relying on the indirect marketing that
comes from the visitors of the event space who shares their pictures while visiting the place.
For that, we are going to establish a concept and design that will remain as the trademark of
Chantique Space & Event. So, when people see the pictures from the visitors, they will
automatically know that it was taken at Chantique Space & Event.

C. Supply chain management

YTA Enterprise business model and operation is somehow related with managing and retaining
the outsourcings resources towards company suppliers and networks. The key partners are
undeniably becoming one of the backbones of the business. As listed in the key partnerships,
those partners are the main networks in ensuring the supplies and service performance. For
that, our main activities is to ensure that we have a good relationship and good management
with the key partners.

However, some of the key partners would become our client too as they bring in their own
customer to our place. This situation is usually for the event organizer or a wedding planner
that has their own client who wants to hold the wedding or event at Chantique Space & Event.
So, the key partners rent our space and deal for the rental directly to us.

D. Design and coordinate

Since the business operation involves in event organizing and partners collaborating, we have
to ensure that every event is organized and coordinated well. Customer satisfaction is our main
focus and goal. For that, we have to ensure that our team plays their role accordingly. Training
and pre event meeting will be joined by the freelancers who is selected for an event. For
designing, the team has to come out with the signature design of Chantique Space & Event and
also some featured design that will be established in certain spots in the hall for a seasonal
period.

E. Search and do collaboration with partners

In order to maintain the business survival, one thing that will keep this business alive is by doing
collaboration with partners or searching for more partners. Wedding industry in Malaysia is big
and most companies that is stable enough in this industry will face this one problem which is
they don’t have enough resources, supplies and they also might be in situation of too much to
handle in an event. So, the only thing to solve the problem is by outsourcing or collaborate with
partners. This is how collaboration mostly works in this industry.

3) Key Resources

Key resources are the most important assets that is needed to make a business works. It is
crucial for every business to have it and only from there, the company can generate the value
propositions and revenues.

For YTA Enterprise, the key resources are:

A. Physical asset

Our main business is offering a rental functional event space. So, the most important resources
is clearly a building with an adequate space to fit our functional rooms. We rent a factory outlet
building at Taman Perindustrian Alam Jaya, Puncak Alam. The building is sized at 190 ft x 46 ft
with 2 sections of the building which are section A and B. Section A consist of 3 floor office
building meanwhile the Section B is for the empty factory space. Section A will be the place for
seminar rooms and company’s office while for Section B will be transform into a wedding hall
with 2 partitions for small and large hall. The rental term is contracted at 2 years per contract.
Other physical assets are the basic equipment for the function rooms for example microphones,
speakers and lightings.

B. Human Resources
YTA Enterprise consist of 4 permanent staff which are the founder, co-founder and another 2
staffs. The positions of each staffs are as below:

1) Founder – Managing Director/Operation Manager


2) Co-founder – Chief coordinator/Designer
3) Permanent staff – Marketing Manager/Administration Manager
4) Permanent staff – Financial Manager

Other manpower that is needed to support our business operation are the part-timers and the
freelancer. The need of these manpower is to fulfil the job scopes as below:

A) Part-timers – 1) Cleaners
2) Decorators
3) Guards
4) Helpers
B) Freelancers - 1) Emcee
2) Photographer
3) Coordinator/ event manager team
4) RSVP team

The rest of manpower resources comes from the panels or the partners of our company. We
outsource for services that we do not own to fulfil our client’s demand and needs for their
event. For that, we have identified the panels and their preferred services supply.

C. Financial Resources

The crucial part in preparing financial or funding is the start-up cost. Chantique Space & Event is
budgeted to need a start-up cost that is amounted at RM570 400. Although the amount seems
big, but up to 58% of the amount is allocated for the rental and deposit fees. The funding for
starting modal is divided as below:
1) Founders personal saving: 5% of the overall cost = RM15 000 per partner
2) Business angle contribution: 28% of the overall cost = RM162 120
3) PUNB (loan) contribution: 67% of the overall cost = RM328,168

4) Value Propositions

Value propositions are the value of a company promises on what to deliver to customers and
why they should choose our services. It is also act as a declaration of intent that introduces a
company’s brand to clients by telling them what the company stands for, how it operates and
why it deserves the business.

YTA Enterprise has 4 value propositions to deliver to customers.

A. Services

We promise to provide a new experience to our clients through our overall services (packages,
facilities, management and working environment). Either to serve the end-client or the middle-
client (event organizer), both are important to us in keeping our services ‘clean’ and
professional. Our aim is to make our clients satisfy and happy while using our space. We want
them to enjoy their time and had a great experience at Chantique Space & Event whilst having
or attending event or program there. Other than that, we want to ease them in finding supplies
for their event such as catering, wedding organizer and others. That is why we come out with
our own team and panel to help them out with their event.

B. Customization

The packages offered are customs according to client’s need. Our basic space rental package is
divided into two categories which are the function rooms and the hall.

1) Seminar rooms for 40 pax (RM1,100)

(with basic PA Systems, projector, screen, tables and chairs, white board & stationaries,
registration table & signage)

2) Small hall for 150 pax (RM3,200)


(with basic PA Systems, projector, screen, registration table & signage, portable stage, holding
room, backdrop deco, emcee)

3) Large hall for 300 pax (RM5,200)

(with basic PA Systems, projector, screen, registration table & signage, portable stage, holding
room, backdrop deco, emcee)

The custom packages are altered according to client’s need. This alternation is usually for those
who want to use our all-in-one package where almost all needs for wedding or other ceremony
is included. The additional services that will be included is divided into two categories as well
since our space offers two types of function space.

1) Seminar room – Basic package + catering + (*optional)

(*Goodies /emcee/backdrop deco/holding room)

2) Small/large hall – Basic package + catering + (*optional)

(*Wedding or event decorator/tables and chair/additional PA Systems &


lightings/photographer/event coordinator/RSVP/homestay/goodies/canopy/live performance)

C. Signature

In order to make Chantique Space & Event become familiar to public, we create a signature
design that will become the landmark of our event space. The signature design will be placed at
few spots in the building and will be decorated as a photo spot. This will attract people to take a
photo at the signature spot and if they post it in their social media, a lot of people will see it.
From there, people will start to recognize Chantique Space & Event and this will create their
interest to do event at Chantique Space & Event.

D. Multipurpose space

We want to make Chantique Space & Event as a top choices of event space in Puncak Alam.
With the space we had in Chantique Space & Event, we take the advantage to utilize the
building with not only offer a hall space, but also a function rooms for seminar or any other
function. The hall space is open for any events such as wedding, dinner, forum or talk and other
considerable event.

E. Co-creation

This will allow client to be a part of the team where they will get more empowerment or
opportunity in deciding or selecting their needs for example the design, decoration,
arrangement and flow of event. Since every client has their own project manager, they have the
opportunity to share their ideas and collaborate with project manager to make their dream
event come true. Since we have two types of client which are middle-client and end-client, this
will give much satisfaction on both while working and collaborating together. When our client
satisfied working with us, the chances to get another project from them is high.

5) Customer Relationship

In a simple word, customer relationship is how the company establish the relationship with our
clients and how we manage the relation with them.

For YTA Entreprise, we have two customer relationship catagories:

A. Personal Assistant

For every clients that we deal, they will be assigned with one project manager who will assist
the client from the starting of acquisition until the end of event. With this, client will have
opportunity to interact and get more attention from the project manager. For every discussion,
confirmation, requisition and suggestion, the client can directly talk to their project manager.
This helps will enhance the flow of information so that it can avoid mistakes. Other than that,
client will feel appreciated and comfortable too in dealing with us because he or she do not
have to deal with many people and processes.

B. Communities

Creating communities of our own can be done through our social media in which it is targeted
to the followers. It is the role of marketing team to enhance the copywriting content to create a
two ways communication with the followers. With that, it is hope to gain responds from them
and create a bonding to both parties. At the same time, it will create a vibe in which it could
attract other people to follow us too since they see a good relationship among other the
followers and the business. Creating communities also can enhance our performance in which
we can ask for opinion from them or we can collect on information based on their sharing.
Thus, creating own community is seems to be beneficial towards company performance and
relationship as it is seen to become ‘the second advisor’ to us.

6) Channels

Channels or distribution channel helps to move our product to reach customers and how it
meets the target audience. Since we are selling services, the channel is more towards the
promotional and also how we do we get supplies. It could be a physical channel or a virtual
channel.

A. Physical Channel

We run our marketing channel through direct marketing and sales. For example, Chantique
Space & Event has its own building where in client can make appointments to have a site visit at
the space in off-event days to get a closer view for the set-ups and space. Other than that, we
also participate in wedding fairs as a vendor to reach more target audience and to introduce
our event space to them.

For middle-client like event/wedding planner, it is either they look for us or we look for them to
promote our space. If the collaboration happen, they will bring their customer to us. Then,
when it comes to the preparation day, the panel will bring their own team to come and set-up
their things at the event space. In this category, our event and wedding planner goes to the key
partners which are Fahrenheit69, Orchid Wedding Planner, Butik Pengantin Marlynn Afzan, as
well as the new event planners in customer segment which are Ekspresi Wedding, Wedding by
Bonda and Bunga Raya Event.

B. Virtual Channel
We create our own social media platform which is Instagram because it has a great platform to
publish our portfolio. The younger generation is more into Instagram when using social media
because the information is more direct through its picture postings and captions. Meanwhile
for Facebook, the audience is focuses more to the older generation because they are more
comfortable in the ‘Facebook zone’ and its lengthy copywriting. Based on the two channels, we
reach our audience through Instagram ads and Facebook ads to promote our event space. We
also have our company website so that audience will feel more confident with our services and
they can search for more info about us there.

7) Customer Segments

It is the community of customers or the set of customers that the company aims to sell our
services. As a start-up, it is important to select our community of customers so that we know
with whom we are dealing. A customer segment may also be defined through demographics
factor such as age, ethnicity, profession, gender or psychographic factors such as spending
behavior, interests, and motivations. Our customer segments has three categories which are:

A. Puncak Alam, Shah Alam, Saujana Utama and Sungai Buloh residents

We aim for our main customer which is the residents of Puncak Alam, Shah Alam, Saujana
Utama and Sungai Buloh. Based on our observations, the citizen in Puncak Alam, Saujana
Utama and Sungai Buloh have few choices in selecting event venue because there are lacking of
event space especially for wedding event. For example, in Puncak Alam, some of them had to
use ‘Dewan Serbaguna UiTM Puncak Alam’ or the ‘Banquet Hall, UiTM Puncak Alam Hotel’ to do
the wedding ceremony. Besides that, these three places also have quite large population with
various income level. Meanwhile in Shah Alam, even there are quite many event spaces existed
there, but due to its high population, the residents are facing difficulty in booking the place
because its often to be fully booked. Plus, as mentioned earlier in the Introduction, Puncak
Alam is now in the process of developing more residential and property. In near future, the
population here will increase more than current number.

B. Event/Wedding Organizer
We also target the event organizers in Klang Valley and the area nearby to collaborate with us
for example like Ekspresi Wedding, Wedding by Bonda and Bunga Raya Event. These three
names are quite new to the market and for that, it will give benefit to each of us since we can
help each other in growing the business. To ensure it works, we have to create more
networking with them and promote our event space. We can also ask our panels to help in
promoting the event space since we are working together. One of the closest prospect that we
can get is through UiTM. There are many events like talk, seminars, dinner and even an award
ceremony that is held in UiTM and a part of it is organized by the students. By promoting and
give a special package to them, it help our company to have better connections with UiTM.

C. Client’s relative and friend

An indirect marketing could happen when client’s guests come to Chantique Space & Event.
Even they come as a guest to fulfil the invitation of the host, they will indirectly experience and
evaluate the hall themselves and if they feel interested, they will become the next client of us.
Other roles of these guests are to be the indirect marketers whenever they post pictures and
tag the location on social media.

8) Cost Structure

The cost structure for YTA Enterprise is separated into few categories which are the marketing
cost, operational cost and administration cost. The reason to allocate these costing according to
its functional area is to ease the tracing and recording of financial activity in the business.

A. Marketing cost
- Building signage and road signage
- Grand opening of Chantique Space & Event
- Online advertisement
- Brochure
- Basic decoration (counter, entrance, signature photo spot)

B. Operational cost
- Electricity & water bill
- Telephone & mileage bill
- Business registration & license
- Monthly rental
C. Administration cost
- Salary (permanent staff)
- Wages (part-timer & free-lancers)
- Office equipment (Table & Chairs)
- Stationaries & whiteboard

9) Revenue Streams

YTA Enterprise has several revenue streams that contribute to our cash inflows. The
contribution comes from rental of function rooms & hall, sales of other services and also
margins from panel supplies.

A. Rental of Function Rooms & Hall

As the main business of our company, the event space is our ‘product’. Rentals of the spaces
will contribute to our revenue and cash inflows. We have 4 space rooms which are two seminar
rooms and two halls to be offered. The allocation of 2 seminar rooms and halls are made with
the hope that it will avoid booking clashes with the rooms or halls. With that, we can ease our
clients mind so that they don’t have to change their dates or find for another space to do their
event.

B. Sales of other services

Besides offering event space as our product, we also sell services which are event coordination,
emcee, photograph, music performance and RSVP service. We have create our own team with
our own panel of freelancers. For this service, it is not limited only in Chantique Space & Event
purpose but we can also supply the services to other place. The more job supply we get, more
revenue we get too.

C. Margin from panel suppliers

The margin comes from collaboration of supplies between of panels. For every customer that
take custom all-in-one package with us, that means there is a need of collaboration with our
partners. So, the costing for every services need to be calculated differently as we are
automatically as the ‘middle person’ to supply the needs. We get a special price from our
panels and we add a margin from the price. From there, we get some portion of revenue.

CONCLUSION
As a conclusion, the aim for this business proposal is to develop the idea for final year project
which is a business plan. It is hope that this project will increase student skills and ability to
become more creative and critical thinking, problem-solving skills, research skills and
management skills.

As for me, I decided to choose wedding and event industry because what can I see is that this
industry has a never ending demand due to the fact that the number of people are increasing
and growing. When the time has come, they get married and they will absolutely looking for
this kind of service. The fact that wedding industry has become as one of the biggest revenue
stream of the country as well has proven the stability and demand. Even there are many
companies offering the same service, I believe that with the right strategy and technique, this
business can go further and beyond its expectation.

Looking at the factor of population in Puncak Alam and the neighborhood, the factor of
development and the surrounding make me believe that this event space will attract the
citizens to try out our service. In the next three to five years, we will see the new Puncak Alam
and this is why I believe that an early preparation is needed to grab the business opportunity
here.

Last but not least, I hope that I can develop not only my knowledge, but also more
opportunities in finding my true self in furthering in business industry. I also hope that this
effort will help to create more job opportunities and an experience of lesson to everyone who
involves in succeeding the business.