Vivah Wedding Ruff Draft

8/7/2019 Vivah Wedding Ruff Draft

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Business

Lovely

The Decision isiLet mak

Glorious and


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Vivah -Wedding Mall

One Stop Destination forwedding

Prepared By

Hetal Modi

Chirag Gandhi


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Co-owner:

Hetal Modi

Chirag Gandhi

Hathisinh Kamaria

Bhavik Parekh

Hemali Jadfava

Description of business:Our business will provide products like wedding dresses, cosmetics items andevent management service, invitation cards and all other wedding related itemsat one place. We will sale various stores. we would also rent stores tosmaller wedding item store owners. we will also establish two wedding hallon a floor. We will also maintain a friendly, fair and creative serviceenvironment, which greetings diversity, ideas, and hard work. The contact will beon package system. Event management contacts will depend according to thecustomers demand. We are assuring you a perfect arrangement of starting a newpart of life.

Financing:

Our total invested money is around 50 crore. Equally we will invest 10 crore byeachpartner. We also have an alternative plan to take a loan which will amount the50% of the total invested money and to be paid off over 3 years with 10% interest. For

carry on the business this debt will cover the portion of the expenses which we cannot finance with our invested amount of money. It might include office equipment,office rent, stationary items etc.


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Permission Letter

28th October, 2010Dr. J.S Joshipura

Director,Somlalit Institute Of Business Management

Permission for submitting the business plan.

Dear Sir,

We are pleased to submit the Business Plan on the wedding mall Vivah The Wedding Mall. The plan basically focuses on the Entrepreneurial aspects ofsetting up a wedding mall and tries to give an in-depth analysis in terms ofthe industry, the market, management, financing, the wedding products, and thestore itself.

We thank you for giving us the opportunity to explore critically the entrepreneurialaspects of establishing a new wedding mall that has become a lucrative businessthe country and worldwide. We are grateful for your valuable advice and kind co-operation.

Thanking you,

Sincerely,

Hetal Modi

Chirag Gandh


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Failing to plan is planning to fail. Now that we, the five partners, have decided tostart and run a wedding mall, we must develop a very efficient business plan to run thebusiness successfully in the long run. Well consider all the factors necessary for

establishing and running a successful business, including marketing,management, financing, operation, and above all, entrepreneurial opportunities andskills.

We have decided our wedding malls name to be VIVAH. The store will offerwedding products & services to its customers. In addition to selling those

Our target market is obviously the brides and bridegrooms. However, theirparents and guardians are mostly seen to do the shopping for them. So, the

middle-aged married guardians will get preference in our marketing strategy. Sincemost of the customers are seen to be women, we will develop the marketingstrategy keeping them at the center. We will also try to change this tradition, for whichwe will make some promotional campaigns so that the habit of shopping for wedding bythe brides and bridegrooms themselves is built over time.Currently there are manyestablished malls, including Central Mall, Reliance Mall, Himalaya Mall etc. in order tocompete with them, we have to develop some strong marketing tools. Our mainobjective will be to capture the large percentage of the market in one year of startingthe business and retain it in the long run as well. We project our sales to be minimum10% of the capital in the first year..

Executive Summary


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The SWOT analysis is a business tool available in the tool box of any smallbusiness owner. However, running a business forces to focus on the issues andfire burning today, not tomorrow. A SWOT analysis may sound like a form of

mission planning for James Bond. A SWOT simply stands for: Strengths,Weaknesses, Opportunities and Threats. We have done a thorough SWOTanalysis at the end of the marketing plan.

We, the five partners, will be the owner-managers. So we will be accomplishingthe management task ourselves. We are capable of doing it as we come from adiverse background and sound knowledge in our fields. We will personallyappoint the necessary personnel in our stores, and lead, control, supervise, anddirect them as well. In total, we will appoint personnel: a CEO, CFO, 1 projectManager, 2 security guards, a architect initially.

In case of finance, the primary source of the stores financing will be our initialinvestment of about rs 10 crore . We are 5 members that makes a totalinvestment of about rs 50 crore. We will need the initial huge investment amountfor buying a space and starting the construction of the mall space at stadiumRoad. We wont finance our business from outside sources unless it is tooemergency, which is not likely to be because were already doing an effectiveplan for that. Most part of the investment amount will be spent while establishingand operating the store in the very beginning. However, as a result of oureffective marketing activities, we will generate huge revenues from the beginning

of the second year, so there is not likely to be any problem in financing ourbusiness in near future. In addition, we will run some promotional campaigns inwhich we will be attracting giant players in wedding accessories to buy office spacein advance. And again, since there is no bridal mall, we are not likely to incurany loss because market research shows that other bridal stores are quite highprofitable.


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Finally, as entrepreneurs, we wont be sticking to conventional or traditionalproducts or services. We will always look for new ideas, products, and services

Business Overview

Vivah Wedding will be one of its kind wedding store inahmedabad. It will clearly attract most of the customersbecause they prefer to shop where they get enough room toroam around, observe the products and prices very well,and feel comfortable. Customers will feel good about ourmall when they will see more products at which they wouldpurchase at a one stop destination..

Vision .

The vision of the Lovely Wedding --

To bring all wedding related products& services under one roof forcustomers and enhance thereshopping experience by bringing latestin wedding accessories.

Business Plan

Lovely Weddingand then make our customers get used to them through extensive marketingstrategies; to get our store more & more competitive advantages.


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Mission

The Mission Statement is a crucial element in thestrategic planning of a business organization. Creating amission is one of the first actions an organization shouldtake. This can be a building block for an overall strategy anddevelopment of more specific functional strategies. Bydefining a mission an organization is making a statement of

organizational purpose.

The vision of the Lovely Wedding--

o To provide the quality and innovative products to

meet the requirements of the customers.o Contribute to the overall satisfaction of our customers

and focusing

o Co-operation, teamwork and partnerships.

o Continuous learning

o Honesty, fairness, integrity, and respect.


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Industry Analysis

Wedding is one of the most important events in everyoneslife. Everyone gets married at least once in life. Its a necessity that

has been being perceived since the very early age of human being.In India the customs and procedures of wedding events havechanged much. The weddings in India is becoming glamorous

day by day the way people celebrate a wedding. People are used

to spend as much as possible in a wedding ceremony and this

tradition is not going to change in near future. So, the need forwedding accessories will

never decrease.

Moreover, its increasing dayby day. Therefore, the

wedding mall business will

be very profitable over time if the perfect strategies of marketingare adopted.

SWOT Analysis:

STRENGTHS


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We are the pioneer in our city

The concept of a wedding mall is totally unique in our city. As we

are going to

provide each and everything regarding to a wedding ceremony

and so far we

know that there is no shop where one can get chance tobuy everything what ever they want for a wedding. So it is

certainly a great strength for us.

We are going

to have huge

collection

We will have latest in wedding at our each store each store

will provide a unique experience for customers. As the

wedding function is special, the customers of course will

want to choose among different alternatives. And after

watching the entire alternative, they will buy the appropriate

and suitable one for them. So we think it will be strength for

us as we will have leading players in wedding accessories in


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our mall.

We will provide quality service

So far we planned for our business, we the executive body

decided to put more emphasis on providing quality service.

We know for a business, it is very important to pay

attention to the product quality as it attracts customer. So it

is sure that our service will be strength for us.

Extensive marketing strategy

We will mostly emphasize on marketing and advertising

activities. No other bridal store performs this activity. So it is

definitely a great strength for our store. We will run

promotional campaigns, advertise on newspapers, banners

and many more, which other stores dont actually perform.

new Concept

Unawareness AS its a new concept for customers is our

main weakness. But we are able to overcome this


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obstacle at

the very first stage through extensive advertising and

promotion.

Roping in various players

Roping in various players will be an issue as smaller players maynot have proper resource to fit in there products in a mall. renting

them will also increase administrative hurdles.

Lack of product knowledge.

As we are the first in this business and this is the first time

that we have come up with such unique idea, it is obvious

that we will have lack of product knowledge.

Expansion in other areas of India

Up till now we decided to operate our wedding mall in the

ahmedabad city. As it is the capital and central part of our

country. Since we will have the largest market share in a

very short period, well also be able to expand our business in

different parts of our country. .

Opportunities

Lovely Wedding

Business Plan


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We the owner of the business areeducated

We the five executives as well as the shareholders of the

wedding mall are educated and studied in the field of

business. In market environment we often observe that many

business fail due to the lack of education of the founder. As he

has less education, he usually fails to carry on with his

business. But in our case the situation is different. We will

consider it as our opportunity.

Higher demand and increasing popularity

Our business will certainly have higher demand and its

popularity will increase day by day as people will get all the

necessary items in one mall and as they will get to know

about our store and its USP from advertisements and also

from other people. They need not to search couples of

markets to get their desired items.

Entrepreneurial opportunities

Because of the all time needs of wedding, there will always

be demand for wedding related products. we may also start

small wedding related shops on our own like puja material

store, decorative item store..


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More Expansion/Diversification May Lead toChaos

Up till now our wedding mall will operate in the ahmedabad

city. But we already said that we have plan to expand our

business out of . In that time as we will expand our

operations widely, it may creates any problems or chaos

Huge competitorsSince we will be the first modern wedding mall in ahmedabad, it

may happen that businessmen, after acquiring knowledge

from us, come up with more attractive feature than us. It will

become a threat for us.

Threats


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PASTE L Analysis:

Political Environment:

Sound political situation helps to grow sound business condition. In our country

Political situation is very good and especially Gujarat. the entrepreneurs have a very

suitable conditions for operating business. It always inhibits the growing of business. So

we may not face any major hurdles due to it.

Economic Environment:

India is a developing country. The national economy has been gaining

momentum. Gujarat is developing at a very fast pace and with so SEZs and SBUs

coming up in Gujarat the level of income will remain higher.. Ahmedabad continue

to experience rapid expansion and prosperity. As these regions accept many

newcomers from the rust belt and other areas, it has become more business

focused. Business is booming in the grass root level. The annual growth rates ofnew small businesses are soaring. Many businesses continue to expandjob creation

has advanced at a steady clip..


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Technology:

From the end of the 20th century, use of computer and other technology

have increased in a dramatic rate. People are very much familiar with them and

want to use them. So, any operation related to those technologies should not

face any problem regarding market demand.

Legal Concern: rules and regulations of Indian shop act and otherguidelines for developing a mall are to be followed.

Current Marketing Situation :

Our Vivah - Wedding Mall is a pioneer company for which the most vital

issue to its success and profitability in the long run is marketing. We will offer

superior and unique products and services to our customers. Most of the

customer go abroad to do their shopping. We want to attract those customers

providing them quality products in Ahmedabad being a metro city, the market for a

wedding service is growing for a whole year around.There are some well-

known malls that are providing with the different services like photography,

decoration on contractual basis. We think, we have likelihood to acquire the

largest share of this yet-to-identify market as we possess the knowledge and skillsas well as the intention to do so. But, we must make sure that we carefully

perform all the marketing functions.


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Analysis of Competitor:

We are going to face strong competition because there are already many

established and well-experienced bridal stores in this industry. The strong

competitors include Central Mall, Reliance Mall ,Himalaya Mall, and store in and

around CG ROAD. The brand names of those stores are very well known.

All those popular stores sell typical bridal products. They have good

looking environment. In addition, they are very experienced so they know very

well what customer expect from bridal stores.

Some truths regarding our competitors:

( Well established brand name

( Operating in this segment for MANY YEARS (

Have a huge collection

( Lacks in exclusive wedding products

( Lacks in WEDDING variety of products

Customer has to go at different places to buy various products.

Market Segmentation:

It is one of the most important parts of marketing research and analysis.

We cannot just go for the whole potential market. We have to select a target

segment from the potential market and communicate with them in order to sell

our service. The products and services we are going to offer are unique and


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Lovely Wedding

exclusive. So we have to identify the consumer segment that is willing

to take these unique and exclusive services, and is affordable of buying

them.

Target Market:

Vivah Weddings market consists of consumers-brides & bridegrooms,

who are going to get married and want to buy or borrow bridal dresses,

cosmetics, flowers, shoes, and other accessories needed in a wedding. Thereare several steps in a wedding. . So, invited people in the parties are also our

potential customers.

Its a common and traditional scenario that most of the time the brides or

bridegrooms parents or guardians or other family members are seen to shop for

them for the wedding occasions, and those shoppers are mostly women. So, the

middle-aged married women and their other family members are the most likely

customers of our store. Furthermore, we will also try to change the tradition by

encouraging the young couple-to-be people to come and shop themselves for

their wedding.

Occasion:

The whole wedding ceremony consists of different activities. Customers demand

differs according to each activity. So, we can segment our market according to

occasion to better understand the need of customers.

Business Plan


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Lovely Wedding

Target Consumer Profile:

Region people from gujarat n non resident Gujaratis from all over the

world

Income Level higher middle class and above

.Description of venture:

Product

Jwellery store

Bridal Accessories

Clothes

Invitation Card

Business Plan


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Matrimonial counter

Tours n travels

Decorators

Caterers

Wedding hall

Beauty salon

Restaurants

Fun zone

Wedding planner

Cosmetic items

Gift articles


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Photo studio

Footwear


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Size of business

Our venture will be spread on a 25000sq.ft plot in stadium road .it will

be spread across 4 floors with several shops and counters spread on

3 floors and 2 wedding halls on one floor.its a huge business venture.

Position Number of

Business Plan


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employees

ceo 1

cfo 1

Accountant 1

Site officer 1

Project manager {marketing} 1

Security Guard 1

Total employees 6

Physical plant:

The VIVAH mall will be located at stadium road,ahmedabad .its at the end of cgroad where many shopping outlets are located. so it will be easily noticeable by mostof our customers. Main reasons of locating our wedding mall at stadium Road are:

Most of the customers will be aware of it as its much sort after areas in thecity stadium road is easily reachable from any corner of the ahmedabad city. Regularcounter buses and other transport facilities are available at the ashram road which isconnected to it. .


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> it is just beside the main commercial area CG road in the city.

> Most people of the city used to go there for shopping and thats why it is

the most recognized place.

> Our mall will be spread across11000 square feet thus we hope, we can manage to all

the products and service portion of our business under a single roof


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Marketing Plans

Lovely Wedding

Organization Plan:

Form of ownership: Partnership Business

Identification of partners:

Chirag Gandhi

Hetal modi

Hemali jadafva

Hathising kamaria

Bhavik parekh

Terms of Agreements:

3 Years agreement

Have vision to expand the business

60% of profit earned in a year will be reinvested till further notice.

Responsibilities will be specific and realistic

Any kind of loss or profit will be distributed among the partners according to

their contribution for that particular loss or profit.

Partners should have good understanding between each other.

Any kind of unethical behavior will not be accepted.

Business Plan


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Confidentiality of the firm must be reserved!

All the partners should sit for a meeting to discuss future plan and recent threat

for once in month.

No products will be sold on account to the customers

Any of the director can not argue about the terms or agreement

Authority of principals:


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Lovely Wedding

Backgrounds of the management employees:

Our management employees should be enrienched and good communicator. As

our shop is about wedding and providing marital service, therefore, we need such

kind of people who can well communicate with the customers and make them to

buy our products and services. The officers who will work on site should be

experienced as well. We need experienced person here because to manage an

event is not an easy task and to have cost efficiency and to control any unexpected

situation, an experienced person is much better choice. An experienced person

does not mean that the employees must be educated. Any one who has deal with

such event for long time can be eligible for the position.

Roles and responsibilities:

Manager:

There will one manager in the firm, who will deal with all official and related issues

of the business. All kinds of official affairs will be reported to the manager. Moreover,

manager will possess the authority to change any procedure if he thinksnecessary, but in this case, decision of the directors is mandatory

Business Plan


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AvAvailable Positions : 1

Job description

After the five owners, he is the second most important and powerful position in the

shop. The main responsibility of this post is to carry out the policies issued by the

owners. He also oversees the present ongoing progress of malls so that everything

goes towards shops prosperity.

Duties & Responsibilities

o Coordination and control all department.

o Always need to oversee the present ongoing situation in the shop o

Implements policies for smooth functioning of the mall

o Resolve any critical issues and consult owners

chief financial officer:

Job position: financial

Reports to: owners

see the financial part of

the mall

co ordinate with ceo for all the functions

co ordinate with architect so that a mall becomes functional within the budget of the

Lovely

WeddingJob Title: ceo

Business


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organization

maintain all records of construction of mall,office space rented,leased or sold to others etc

ACCOUNTANT:

Keeping record of the equipments,matterials,etc used in the mall, deal with the

employees salary, financial support, and other issues. The accountant will report

to the cfo about the financial condition of the firm on a daily basis.

Duties and responsibilities:

Preparing the financial statement for the organization on each six months.

Recording inventory items, whether going out or in and how much is there

on the mall etc.

Recording daily sales and income on daily basis.

Site officer:

he will be posted on the site and will oversee the construction of the site n report to

the ceo. Their duty will be, monitoring the assigned task and reporting the

information to the ceo.


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Job description

He/she will be responsible to keep the shop environment neat and clean


.

o Clean and sweep the shop floor.

o Maintain a neat and clear environment in the shop

Clean the shop equipments

Security Guard:

Two security guards will be recruited on shifting basis on our shop. Their salary

will be decided according to the typical salary rate on the market.

Job Title: Security Guard

Reports to: Manager

Available Positions: 2

Job description

Business Plan


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Lovely Wedding

He has the job of keeping the security system of the shop and helps the Factory

Manager to keep the shop secured.


.

o Handle any awkward situation.

o Ensure shop security.

o Examines doors, windows, and gates to determine that they are secure.

Payment policies:

Salaries: All the employees will get monthly salary for their regular job. Their

salary plan will be decided by the normal salary rate of in india In addition, if any

change on pay scale is required it would be decided by the discussion between

director board and employees.

Ceo/cfo

Basic allowance 25000

Travel allowance (10% of the basic

salary)

2500

Mobile bill (5% of the basic salary) 1000

Business Plan


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Lovely Wedding

Others

o Yearly holy day 15 days without government declared

holy day. o a bonuses per year

accountant


Travel Allowance( 10% of the basic

salary)

800

Others . o Yearly holy day 15 days without government declared holy day.

o a bonuses per year

Security Guard:


Others

o Yearly holy day 15 days without government declared holy

day.

Project manager

Project manager 15000

Travelling allowance 10% of basic 1500

Mobile exp 750

Business Plan


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Site manager

We can keep the data of the existing customers. From the data of existing

customers we can identify the best seller zone and the group who mostly

buy our product.and we can inform tham when new schemes or events

happeing in the mall

Computer makes our daily life easier. We have our webpage and can sell

goods and can have virtual contracts of organizing parties out there on internet.

Site manager 10000Traveling allowance 10% of basic 1000

Mobile exp 500


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> If we get success then this business will keep on growing in future. We will

be planning to expand our market and include as much target consumer

as possible.

> In future, we plan to open another mall in Saurashtra at catering to their

needs .it will be easier to establish as the buzz had already been created

by our mall in Ahmedabad.

relation with customers. We should have good communication too with them.

It would help us to get well known to the customer group.

> To continue our business in long run we need to keep the existing

customers as long as possible.

> We have planned to take the opinions from the customer to improve the

quality of our products.

Business Plan

Lovely Wedding

Contingency plans:

> In the future we expanded our business.

Business Plan


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The first step in financial planning is

controlling the day-to-day financial affairs to enable to do the things that bring the

business success and satisfaction and enjoyment to the owners. This is

achieved by planning.

The second step in personal financial planning is choosing and following a

course toward long-term financial goals. As with anything else, without financial

goals and specific plans for meeting them, some businesses drift along and leave

their future to chance. A wise man once said: "most people don't plan to fail; they

just fail to plan." The end result is the same: failure to reach financial stability. The

third step in personal financial planning, "Building a Financial Safety Net,"

Vivahs financial goal is the same, that is to achieve financial stability and thats

why it is a must to prepare a plan. We five partners have equally invested 10

crore each to make a total investment ofrs 50crore initially for the store. Well

equally distribute any profit among ourselves. But the main goal is to get the most

of the investment as soon as possible. That is, the payback period should be very

short. The figures in the income statement also have to be significant otherwise

its not so profitable compared to other stores. The graph has to go higher. We

want to stabilize our business financially so that new competitors cannot cope upwith us by any means. Whenever there will be any problem, it could be solved

instantly without any hassle. And it is possible to get the payback period

very short and also this market segment is comparatively profitable.

Financial Goals

Business Plan


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Proposed Profit And Loss Account ;

Expenses Income Amt

dep 10% 2cr hall income 60lac*8mnths .4.8

hall and office 50lac25lac*4mn

ths 1cr

Maintenance 10lac rent 1.5lac*12 18lac

interest to partners 43.50lac Commission 25lac

Salary to staff 10.12lac

net profit 3.195lac

Total 6,33,12000 Total 6,33,12000

Liability Amt in crore

Capital 50

Drawings {30}

Net capital 20

Asset :

Mall 50

Shop Sold 30

Net 20


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1st balance sheet


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2nd balance sheet

Cash Flow

cash out flow (purchase of land) 35 cr

preconstuction sale of office space9(50%)

Restaurant4(50%)

Funzone2(50%)

Total 15

net outflow during construction 28

Next half yearly

Initially 28

Lialbilities amountMall 20Depri 2Net 18AssetsCapital


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Outflow 7

Interior 4

Legal 2

Inflow 15

Net cash flow 26


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Lovely Wedding

Conclusion:

Changes Brought About in the Indian Wedding Scenario

Many changes have come about in the matrimony structure in India. It is true that earlier mawere quite serious occasions, which happened as per the discretion of the parents. Even the y

wants to get married through websites now. It is because they provide him with better chanc

know what kind of choices he has before himself.

They can know about so many people. They can even marry someone who hails from anothe

India. This has expanded the freedom before people to marry anyone. Their choice is not restSuch Indian matrimonial websites have also expanded the right to get information about a pr

partner. A person can get to know whether the other person is stating correct information abo

himself.

This is because there is not much scope to hide information on such websites. Earlier, this w

scenario where someone was supposed to marry even without knowing anything about the o

person. Therefore, chances of forgery existed. A person had no guarantee that whatever somhis /her resume stated was true. Boys could provide wrong information about their incomes t

These pundits or intermediaries hid such information from people because of their greed for

This ruined the life of someone who got married to such an unscrupulous person.

The use of such websites has also become popular because children have given much freedo

parents. Now, they want their kids to be happy which has led to such change in their opinion

want their kids to experience the matrimonial bliss. Therefore, they do not force them to martheir own discretion. Children want to take their partners along with them where they work.

they have to look for partners who can fulfill such criteria.

People never had so much freedom in marrying anyone else as they have now. Therefore, suc

matrimonial site ensures that anyone can get married without confining to any particular cho

can find partners through such sites because they talk to them before getting married. Therefmarriage does not happen to an anonymous stranger. Parents are even accepting inter caste m

these days. This has led to new scope for children who get to know about partners of other ca

through such sites. In a return for a minimal sum of money, they can become members of suand talk to anyone in return. They can also post their snaps on such sites. The best part is tha

sites are like social networking sites, which allow so many chances for interaction to couples

Business Plan

-


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In the technological era of today, where one does not want to take risk for his/her life, using websites to get married is the best possible option. This is because we can get to know peopl

other countries also. Marriage only happens once in our lives, so why not get the best possib

Why restrict ourselves in terms of choices available to us.

Vivah Wedding Ruff Draft

Documents

Transcript of Vivah Wedding Ruff Draft