TH230 Dynamics of Trip\Event Planning Welcome to Seminar Units 6 & 7.

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Presentation transcript:

TH230 Dynamics of Trip\Event Planning Welcome to Seminar Units 6 & 7

Unit 6 Introduction to Event Planning Event Management for Tourism, Cultural, Business & Sporting Events Chapters 1 & 2

Event Planning Characteristics: One-Time Event Infrequent Classifications: Mega-events Regional Major Minor

Types of Events: Sporting Entertainment, Arts, & Culture Commercial Marketing & Promotional Meetings & Exhibitions Festivals Family Fundraising Miscellaneous

Determine Purpose

Know Group’s Interest

Develop Timeline Plan/Implement Details

Hospitality Managers: Behave in appropriate manner Manage un-ethical situations Yield not to temptation Be organized Event Planners

Event Team Venue Managers Stage Managers Decorators & Florists Entertainers Lighting, Audio & Video Employment Agencies Public Relations & Marketing Consultants Rental Security Catering Cleaning Ticketing Operations Printers

Unit 7 Financial Management Event Management for Tourism, Cultural, Business & Sporting Events Chapters 7 & 9

Financial Management Operating Budget for Event Income Expenses Fixed Variable

Income/Revenues Fees from Clients Entry Fees Booth Rentals Merchandizing Miscellaneous

Expenses Fixed Variable Semi-variable or mixed expenses

Fixed Expenses Rent Insurance premiums Salaries Subscriptions Professional memberships fees Office furniture Bands Dancers Speakers/MC’s Decorations Lighting Sound/Audio/Visu al Management fee

Variable Expense Based on Number of People Table Decorations Food/Beverage Band/Entertainer Meals

Break-Even Point Fixed + Variable + Contingency # Tickets Sold Break-Even Point = Above this is Profit!

Profit & Loss Statement Includes: Total Revenues Total Expenses Net Loss or Net Gain (Profit)

Balance Sheet Includes: Assets Liabilities Owner’s Equity A balance sheet shows a company’s financial condition at one point in time.

Cash Flow Analysis: Income Received – Expenses = Cash Flow

Unit 9 Events – Final Project Turnbull Family Reunion Guest Information Turnbull’s Information Planning & Timeline Budget

Questions? COMMENTS? CONCERNS?

Winter Break Schedule December 21 st (Wednesday): Unit 7 Begins December 21st - January 2nd: Winter Break January 3rd (Tuesday): Unit 7 resumes: The unit will end the same day, but the deadline for work has been extended until Friday, January 6th. January 4 th (Wednesday): Unit 8 begins. January 6 th (Friday): All Unit 7 work must be turned in by 11:59 PM ET. January 10th (Tuesday): Unit 8 ends. January 15 th (Sunday): All Unit 8 grades should be posted by the instructor.