Report on Hall Renting Services

 The business idea is concerned with providing hall renting services for party and other celebrative occasions. The name of the business is Celebration Rentals and it will deal with consumers who need to celebrate an event and don’t have a place or need a larger place for inviting a large number of people. There are no limitations to event services which will be provided by Celebration Rentals.

Introduction of Hall Renting Services

            Celebration Rentals is a new business which provides hall rental services to people who need to celebrate an event and don’t have the sufficient place to actually celebrate. The business will be providing party services along with other services related to events. The business will be located in Central London and will provide services to residents living in Central London. Generally, whenever it comes to celebrative events, people don’t have the necessary resources to actually celebrate an event. For instance, some people don’t have a wide space to plan the event and invite many people to the event. Similar to how some people don’t have the space, some people cannot decorate sufficient enough to make the place look vibrant.

            In order to resolve these issues, Celebration Rentals will not provide space but also an environment where people can feel comfortable. The space within hall will be sufficient enough for clients to invite more than 150 people. Other than providing space for people to celebrate, the organization will also provide decorative services to clients as it will help them in reducing the efforts which are required in decorating the whole place. These are the services which will be provided to clients in Central London.

Goals of the Business of Hall Renting Services

            There are several goals which will be pursued by Celebration Rentals and these include both long and short-term goals. Following are the short-term objectives of the organization:

·         Attract Customers: The very first short-term objective of the organization is to ensure that customers are attracted to the firm. In order to do this, several strategies will be implemented. For instance, a marketing strategy will be formulated which will be advertise the business to customers and gain their attention. Other than just advertising on the television, social media and internet will also be utilized for advertising and gaining the attention of consumers.

·         Build a Reputation: The second short-term objective for the organization is to create a reputation within the society and among consumers. In order to do this, quality services will be provided to consumers along with discounts. For the first-timers, there will be discounts on services and it will play an important role in not only attracting new clients but building a strong reputation among the existing clients. Building a reputation is very important for any organization and for this business as well, it is considered important.

·         Creating a Strong Customer Base: The last short-term objective of the organization is to create a strong and loyal customer base. Achieving this goal would help the firm in being successful in the future and in the present. When the customer base is loyal to the business, customers will continue to take the rental services of Celebration Rentals. It means that whenever they will need to celebrate an event, they will take the services provided by the firm and will not take services from a competitor.

Following are the long-term objectives of the organization:

·         Be a Strong Brand: The very first long-term objective of Celebration Rentals is to be a strong brand in Central London and be recognized by a large base of customers and clients. In order to achieve this goal, the short-term objectives will be achieved and then efforts will be invested in these goals.

·         Expand the Business: Another significant objective of the business is concerned with expanding the business into other territories and locations. For instance, the initial location of the business will be Central London and in the future, the goal is concerned with expanding the business into similar attractive and crowded places where the demand of party rental services is significant and the business will not suffer or face a risk.

Proposed Target Market of Hall Renting Services

            The target audience for this business is young, teenaged, and elder people who need to celebrate an event. It means that there are no limitations to who can get the services. Anyone who needs to celebrate an event can purchase the services and rent the hall. However, it is expected that most of the people who will be taking the services include families who need to celebrate birthday parties or other events.

Differentiation of Hall Renting Services

            What makes Celebration Rentals different is its focus on cost-effectiveness and customer satisfaction. In comparison with other businesses providing the same services, this organization focuses on providing services which are affordable and can satisfy clients. Even though other businesses provide rental services but the cost is significant. Celebration Rentals will ensure that the rental services can be afforded by clients and they can be satisfied with the quality and costs of services.

Management Team of Hall Renting Services

            The management team will include both experienced and inexperienced managers. They will be collaborate with each other to conduct different operations associated with management. This team will be recruited and adjusted by the HR team and they will be responsible for ensuring that the members of management team understand and complete their tasks in a proper and sensible manner.

Sales Management of Hall Renting Services

            The department of sales management will be accountable for managing the sales and will work closely with the operational management to ensure that during the processes and operations, no issues are faced by the firm. The sales manager will also guide the senior manager about key information and help in deciding the current and future strategies that must be implemented (Daft, 2015).

Budget Plan of Hall Renting Services

            This is the estimated budget that will be required for running the business successfully and ensuring that different operations of the business are conducted in an effective manner.

Value Propositions of Hall Renting Services

 Conclusion of Hall Renting Services

            Overall, it can be said that Celebration Rentals is the name of the startup business and the location for the organization will be Central London. Once its short-term goals are achieved, the organization will focus on the completion of long-term objectives which are concerned with being a brand among the customers and expanding the business into similar territories and locations where the demand of rental services is high.

References of Hall Renting Services

Daft, R. L. (2015). Organization theory and design. Cengage learning.