Costs

Costs are an important aspect when approaching any business model even more so when working on a scale of an event. I have been working out budget that I would be asking from the people who I would be pitching this presentation to.

The Amount I Would Be Requesting

From the two main sponsors, i would be requesting the sum of £35,000 from each to fund the majority of the event. In return their company logos will be on all the Asian Twist main branding before and during the event.

For all the local business that I would be inviting, I would be hoping to raise a further £5,000 which would work out at around 50 businesses paying £100 to set there stands up and show off their produce to a wide audience for the whole day.

Which in total would raise a grand total of £75,000

Spending

• I would set aside £10,000 for the venue.
• For a team of thirty staff to run the day, I would set aside £6,000 (£200 per person for the day).
• £10,000 would be set aside for entertainment.
• The whole marketing Budget would be £30,000 for pre and during the event.
• £3,000 for Insurance taking into account wet weather insurance.
• £5,000 for merchandising.
 Bringing it a grand total of £64,000 in costs leaving a total of £11,000 for in case we went over budget.

As I stated this would run as a non profit event aimed at injecting growth in the local economy with any profits made going to a chosen charity and the St John ambulance service who would be in attendance.

I must add that these figures are just based on a very simple model, I understand the amount of research that would need to be done for a event of this size but for a mock presentation, I believe its enough.