CompanyThis 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
An 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 achieve the goals and objectives. In this report, details about the event that has been planned by Healthy Quila have 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 a 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, the main features of the place are also going to be disclosed in order to attract customers. The event will be conducted on the premises of the Healthy Quila only so that guests can have a look at the premises and get an opportunity to understand how fast foods are made oil-free.
For the entertainment of the people at the venue, it is going to have live music and a 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 the majority of the people to join the event and participate in it. Individuals greatly rely on the endorsements or advertisements done by celebrities. There are some chefs who are famous in the UK and it will be an honour for Healthy Quila to invite them in order to attract people.
The total number of people that Healthy Quila is considering inviting is about 250 and one of the main celebrity chefs is Gordon Ramsay who is a renowned personality not just in the UK but worldwide.
PART B
Budget
The budget is the amount which is required for carrying out 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 members which is 250.
Note 2: Live music singers and orchestra are charging about 15000 and charges for the 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, the budget should also be prepared to carry out all the activities.
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