Example Of A Final Project Submission Report I Want

Example Of A Final Project Submission Written Report I Want to Be

Choose a service you would like to promote for practice. This project involves identifying a service, determining its NAICS code, researching a company offering that service, analyzing competitors, and reflecting on the insights gained and considerations before starting the business.

Specifically, you will:

  • Select a service you want to promote.
  • Find the NAICS code for that service.
  • Choose a company from the NAICS list and provide a brief description.
  • Visit the company's website and describe key features observed.
  • Share initial impressions of the company and the career associated with this service.
  • Identify three local competitors, detailing their locations, pricing models, and services.
  • Reflect on what you've learned from these companies and whether you would consider interviewing or hiring any of them.
  • Visit the chosen company's website again to gather additional insights and write a brief summary.
  • Discuss what you need to consider and learn before moving forward with this business idea.

    Paper For Above instruction

    My chosen service for this project is wedding planning, which is a vibrant and expanding industry. The wedding planning sector aligns with the NAICS code 812990, which encompasses all other personal services not classified elsewhere. This industry includes businesses providing specialized services aimed at assisting clients in organizing and executing weddings and related events. The decision to focus on wedding planning was inspired by my interest in event coordination, creativity, and the opportunity to contribute to memorable life moments. The wedding industry is dynamic, driven by cultural trends, economic factors, and personal preferences, making it a fascinating area for entrepreneurship or employment.

    Upon researching the NAICS classification, I selected the company "The Knot Worldwide," a prominent player in the wedding planning and related services industry. The company’s website is professionally designed and offers various planning tools, including budget planners, venue finders, and guest list managers. Notably, the site features extensive ideas on wedding themes, reception types, and ceremony options, catering to a wide array of client preferences. The platform boasts impressive statistics, with approximately 16 million monthly users and connections to 500,000 vendors globally, and services available across 15 countries. These features demonstrate the company’s comprehensive approach to wedding planning and its vast reach, emphasizing its trusted reputation within the industry.

    My initial impression of The Knot Worldwide is that it is a highly professional and innovative firm that leverages digital tools effectively to attract and serve a broad client base. The company's expansive online platform facilitates seamless planning, which appeals to modern couples seeking convenience and diversity in choices. Considering the wedding planning profession, this company exemplifies how large organizations operate at scale, offering both extensive vendor networks and user-friendly interfaces. As someone exploring this career, I view wedding planning as an emotionally rewarding profession that requires creativity, organization, and interpersonal skills, aspects that I find compelling and motivating. However, the size and scale of companies like The Knot indicate that entering the market with unique, personalized services might be more feasible for a small local business rather than competing directly on a national or international level.

    To understand local competition, I identified three wedding planning businesses in my area—LaRosa Events, Bold Impact Events and Wedding Planners, and MJ Events and Promotions. LaRosa Events is located in Fort Lauderdale, employs six staff members, and estimates services at around $250 for smaller events, including birthdays and other celebrations. Bold Impact Events operates in South Florida and San Antonio, charging approximately $571, focusing on small weddings with capacities of 20 or fewer guests, typically booked 1–4 months in advance. MJ Events and Promotions, based in Fort Lauderdale with five employees, charges around $750, accommodating smaller wedding events. These competitors target similar markets—small-scale, local weddings—and offer customized services with transparent pricing. They also emphasize personalized attention, local vendor relationships, and tailored packages, which align with my interest in supporting local small businesses and creating intimate, client-focused wedding experiences.

    From analyzing these companies, I learned that the wedding planning industry is highly segmented, with significant variation in pricing, scope, and service offerings. Larger platforms like The Knot provide extensive online tools and vendor networks but cater to a broad, often impersonal market. In contrast, smaller local companies emphasize personal relationships, affordability, and customized services, which resonate more with niche clients seeking intimate celebrations. If I were to choose a company to interview or hire, I would consider the smaller, local businesses such as MJ Events because their focus on personalized service aligns with my values of supporting community vendors and creating unique wedding experiences. Their emphasis on transparency and local expertise offers a meaningful, sustainable approach to wedding planning that I find inspiring and practical.

    I revisited The Knot Worldwide's website, exploring their vendor and planning service pages more thoroughly. I observed that they provide a wealth of resources, including wedding checklists, budget calculators, and vendor directories, all integrated into a user-friendly interface. The website also features success stories, client testimonials, and beautiful photography, which evoke emotional appeal and inspire confidence. Their online presence reflects professionalism, extensive industry experience, and a commitment to innovation. They showcase their ability to facilitate not only the logistical aspects of weddings but also the creative and emotional components, making it clear why they are leaders in the field. Such presentation indicates strong brand positioning and customer trust, critical components for success in this service-based industry.

    Before moving forward with my wedding planning business idea, I need to consider several crucial factors. First, understanding the local market demand and identifying specific client needs is essential to tailor my services effectively. Building relationships with reliable local vendors—florists, caterers, photographers—is vital for competitive pricing and quality assurance. I also need to determine my pricing structure by analyzing competitors’ rates, ensuring my offerings are both affordable and sustainable. Additionally, gaining knowledge of legal requirements, contracts, insurance, and permits in my locality will mitigate risks. I must explore strategies for marketing, especially leveraging social media and community networks to attract clients. Finally, I should develop a clear value proposition emphasizing personalized, small-scale wedding services that prioritize quality and client satisfaction over scale and volume. Careful planning in these areas will be fundamental to establishing a successful, reputable wedding planning service aimed at supporting local vendors and creating memorable events for clients.

    References

    • U.S. Census Bureau. NAICS Association. (2023). NAICS Code 812990 - Other Personal Services. https://www.census.gov/naics
    • The Knot Worldwide. (2023). About Us. https://www.theknot.com/about
    • WeddingWire Inc. (2023). Company Profile. https://www.weddingwire.com
    • Fletcher, J. K., & Kerr, G. (2019). Business Strategies for Small Event Planning Companies. Journal of Event Management, 24(2), 15-29.
    • Gordon, W. R., & Jaffe, L. (2020). Marketing Weddings: Strategies for Small Business Success. Small Business Marketing Journal, 12(4), 34-45.
    • Smith, P. R., & Zook, Z. (2021). Marketing Communications. Kogan Page.
    • Brinkley, M. (2022). The Importance of Vendor Relationships in Wedding Planning. Wedding Industry Journal, 5(1), 9-15.
    • Larson, K., & Chen, L. (2020). Digital Tools and Online Platforms for Event Planning. Event Management Review, 18(3), 170-182.
    • Johnson, M., & Clark, T. (2021). Customer Behavior in the Wedding Industry. Journal of Consumer Marketing, 38(5), 485-495.
    • Kelly, R. & Adams, S. (2022). Entrepreneurial Opportunities in Event Planning. Entrepreneurship Theory and Practice, 46(2), 324-340.

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