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
Duties & Responsibilities
.
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.
Duties & Responsibilities
.
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
Basic allowance 8000
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:
Basic allowance 2000
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.
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