This assessment will cover following questions:
- Explain concept of budgeting and its relevancy in organising an event.
- How budget has been allocated among various event conducted by an organisation.
INTRODUCTION
Event is important for launching a new venture or product/service. It should be planned by including budget and other major considerations which can help achieving the goals and objectives. In this report, details about the event that has been planned by Healthy Quila has been discussed.
PART A
Launching of Event
Healthy Quila is going to launch an event for launching its products in the market. It is likely to take the form of social gathering which will have some of the local chefs as the main guests. The ideas and variety of foods are going to be presented through a presentation by describing the prices. Furthermore, main features of the place are also going to be disclosed in order to attract the customers. The event will be conducted in the premises of the Healthy Quila only so that guests can have a look of the premises and get an opportunity to understand the how the fast foods are made oil free.
For the entertainment of the people at the venue, it is going to have live music and magic show followed by refreshment which is going to include the foods that will be served by Healthy Quila. The main reason behind choosing a celebrity is to give a solid factor for all majority of the people to join the event and participate in it. Individuals greatly rely on the endorsements or advertisements done by the celebrities. There are some chefs who are famous in UK and it will be a honour for Healthy Quila to invite them in order to attract the people.
The total number of people that Healthy Quila is considering to invite are about 250 which and the one of the main celebrity chefs is Gordon Ramsay who is a renowned personality not just in UK but in worldwide.
PART B
Budget
Budget is the amount which is required for carrying the activities smoothly and effectively (Treasury, 2012). There are different types of budgets which are chosen on the basis of their characteristics and features. In the case of Healthy Quila, it has prepared a budget which includes all the costs and money required for the event. It is important so that guests do not have to face any kind of problems.
The below-mentioned is the budget for this event and it includes all the major elements:
|
Items |
Cost (£) |
|
Food and refreshment (Note 1) |
10000 |
|
Music and other entertainment (Note 2) |
25000 |
|
Chairs and tables (Note 3) |
4000 |
|
Celebrity endorsement |
60000 |
|
Advertising |
6000 |
|
Total |
105000 |
Working Notes:
Note 1: The average cost per plate is £25 for a members which are 250.
Note 2: Live music singer and orchestra is charging about 15000 and charges for magic show is 10000.
Note 3: Chairs are about 2800 and tables are costing approx 1200.
Read More :- Sustainability of Mega Event
CONCLUSION
From the above report, it can be concluded that planning an event requires proper planning followed by management. Furthermore, budget should also be prepared to carry all the activities.
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