Feasibility Study on Establishment of Treasure Wink in Regalado Avenue Fairview Avenue, Quezon City
Keywords:catering, contingency, event
Treasure Wink is an events company that specializes in event planning ranging from birthday parties, weddings, anniversary parties, company meetings and events, and holiday celebrations, People have come up with many occasions for organizing events because they get to know and talk todifferent people. Treasure Wink wasestablished in 2019 by a group of young students who areexperienced in organizing events. The proponents came up with the name of “Treasure Wink,”wherein“treasure” means the essential things and happenings in life that every person wants to cherish,and “wink” is the synonym of the moment. The proponents chose these words as they aim to help plan an important event. The researchers conductedbrainstorming, ocular visitson the site, surveysaround the area, and industry reviewson the proposed business. The survey was conducted near the location with 50 respondents to know their preference for hiring an event planner. According to the survey, 44% of the respondents were millennialswho can convince their parents to hire an event planner for theirspecialeventsbecause they want to have a unique Instragrammable set up for it. The resultsshowed that 66%of the respondentsare female,66% of the respondents were single, and 34%of the respondents were already married. Meanwhile, 62% of the respondents were employed andhiredan eventsplanner during their company occasions. A total of 46%of the respondentshiredan eventsplanner once a year;most of them were young professionals who love to socialize.A total of36%of the respondentshiredan eventsplanner every five years for a significant occasion,while 18%of the respondentshiredan events planner because of financial issues. The beach theme was the most preferred concept by the majority of the respondents. Price sensitivity was the highest considerations among the respondents with38%. The ambiance was the top priority among the respondents, with a birthday party as the most common event for the respondents to hire an events planner. According to the survey, 90%of the respondents were willing to spend ₱50,000 to ₱100,000 for the event because they also consider the cost of conducting an event. The preferred time for the event was during the daytime. The study proved that event management is the future industry of the country. The planner should be able to adapt to sudden changes and be a quick thinker. The proponents concluded that Treasure Wink is feasible and viable to the market.