Wedding​z​.

in SOP - Acquisition Team

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S. No. Topics
1 Business Model of Weddingz.in
2 How Do we Add Value to any Venue
3 Important data on Weddingz.in
4 Various Business Models & Features
5 Pitch Flow
6 Call / Meeting objectives and best practices
7 Email Format
8 Update Meeting Tracker - Daily Task
9 Pre-Signing Approvals (VComs)
10 Draft Contract Copy
11 4 Non-Negotiable Points in contract
12 Post Signing Activities
13 Fresh Onboarding EMail (Internal Team)
14 FAQ (By Owner)
15 Important Links
 Wedding​z​.in SOP - Acquisition Team
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1. Business model of Weddingz

Weddingz provides wedding services to its customers, anchored around venues. Our customer is a venue
customer, to whom we first sell a venue and then other services.

A customer comes to us looking for a venue. A RM serves the customer [understands the requirement,
recommends a few venues]. Venue managers from recommended venues then directly interact with customer
[calls for visit, shows around and closes the sale].

Venue manager will also ensure whatever is committed to customer is delivered.

Leads comes to Weddingz from various sources:

● Online: Paid / Unpaid

○ Web form: Customer fills a form online
○ Customer calls a venue … That number comes to us

● Offline
○ MM [Offline sales force of 2000 DMs bringing in leads]

These leads are qualified by RMs and then passed on to VMs who then coordinate with customers for bookings.

2. How do we add value to any venue

● We generate more customer visits

○ Walkins. Expect 50% growth of walkins
■ Venue get premium position on the site. Customers see that and visit.
■ We recommend to all customers looking for venue in that area. Some of them will just
visit on their own.
○ Weddingz assisted visits [which is a new source of leads]. Expect 50% of all visits to be driven by
Weddingz
■ Our system recommends the venue to all customer looking in the area. VM calls all such
customers to come and visit.
■ RMs also push customers to visit the venues.

● Improved conversions via ​Talent​ [trained VM] and ​Technology

○ Our VMs are trained professionals on sales. How to understand the customer? How to create
relationship with the customer? How to close the deal etc.
○ Our VMs use technology to ensure no lead is missed. Proper follow-up is done.
○ Tech based prioritization such as leads with nearby event dates. Leads that are very HOT.
○ National brand
○ One stop shop
○ Offers that no one can match [e.g. free pre-wedding / OYO money / ability to pay online]
 Wedding​z​.in SOP - Acquisition Team
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● Improved customer experience leading to better brand for the venue owner
○ We ensure no customer or guest is unhappy. We ensure whatever is committed is delivered. We
document and then work with owners to deliver

3. Important Data on Weddingz

80% of wedding customers use our website for venue 4 lacs visitors a month
research

We have leads for 75% of HHs in the city 20K leads a month

We manage 200 banquets across India Plan to reach 1000 by the year end

We are now in 5 cities Plan to be in 20 by April

Very large Social media presence. Largest in India 13 Lacs social media followers.

India’s largest wedding co. By # events. By revenue. By any metric. We did 1600
events last Dec.

4. Various models of partnership & Features

A. SM Model
B. MG-SM Model
C. Lease Model

A. SM [Sales and Marketing]. This is our most common model and easiest to explain and close. In
this model:
■ We provide sales growth of 30-40%
■ ~30-50% of bookings will be via Weddingz
■ We get paid on all bookings irrespective of channel
● Walkins + Weddingz
■ Venue owner cannot work with any other partner
■ 3 year contract. 1 year lockin
■ Customer pays us. We deduct our service fee and pass the rest to venue. If cash then
and there. If otherwise in 7 days
■ Service fee depends on revenue potential of venues: 10-20% + GST

​ ​Features Of S&M Model​:-

○ Dedicated Professional Sales Team

 Wedding​z​.in SOP - Acquisition Team
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○ Weekly Sales Report (Every Monday)

○ Marketing Support
○ Recommendation to every suitable customer (Approx 400+ leads - per month)
○ CRM Tool - Track every lead coming for the property
○ Inventory Management Tool
○ Revenue Optimization (MR Policy on Hot & Muhurat Dates)
○ Corporate strength of 1800+ Sales Managers to generate corporate bookings
○ SM Model Presentation for Venues​ - ​Link

B​. SM with MG: All the SM features + we guarantee a sales number (​Mi​ nimum ​G​uarantee)

○ If we underachieve, we pay penalty

○ Penalty = 2 * Service Fee * Shortfall
○ We need to get a floor price from the venue. This allows us to sell at a lower price for near term
dates. Floor prices are ~50% of Rack rate or 25% lower than normal selling price. Sometimes floor
price can be lowest price sold for last year
○ 4 Key pillars of MG Model - MG, Take Rate, Floor Pricing & Penalty

Important Part of MG Model & Formula​:-

MG 20-30% upside from the current books

Take Rate 10~20% (Minimum 10%) + GST

Floor Pricing / Power Pricing 60% of Rack rate OR Lowest Selling Price of the year

Penalty (If Target Not Achieved) 2 x Take Rate x Shortfall

Short Fall = (MG - Target Achieved)

C.​ Lease:

○ Here we pay rent to the owners and we run the property. Owner just gets monthly rent
 Wedding​z​.in SOP - Acquisition Team
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5. PITCH FLOW: Start with SM, close with any three of the models!!!

Below are the steps we need to follow during our MG discussion w Owners:

Step 1 - Pitch Normal SM Model

Step 2 - If the Owner asks about the MG

Step 3 - Let him ask for 2-3 times - Keep discussing benefits he will get from Weddingz.in i.e (Leads + Visibility +
Brand Name + Marketing + CRM tool + Professional sale team)

Step 4 - Start Deep Discussion on Numbers like monthly fix cost, yearly turnover, TO in March & April

Step 5 - Pitch MG model

Step 6 - Check Books Immediately - Ask for supporting documents (Electricity Bill)

Step 7 - Give him MG upto 1.4 times of current books

Step 8 - Lock The MG

Step 9 - Lock Take Rate - Minimum 10%

Step 10 - Start a discussion on Occupancy Level of Banquet - Pitch floor price (60% of Rack Rate OR least price sold
in a year) - Share the importance of Fill rate and Floor price (We are helping owners to move from normal profit to
supernormal profit)
 Wedding​z​.in SOP - Acquisition Team
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Step 11 - If the owner asks about Penalty - Start the discussion

Pitch Penalty:

● Weddingz will protect the Net Profit of the Owner i.e 20% or 2X of service fee of the deficit targeted
GMV.
● Penalty e.g.:
A. Target is 5 Cr
B. Service fee is 10%
C. Achieved 3 Cr
D. Deficit - 2 Cr

Weddingz will give penalty:- 2Cr x (2X of Service fee) = Rs.40 Lakhs

Step 12 - Lock The Deal - Sign a Contract

6. Call / Meeting objectives and best practices

● First call: Should be done by a tele caller generally. Weddingz.in India’s largest wedding co. We can give
you 50% growth in sales guaranteed. We do this for 1000s of banquets throughout India. Are you the
owner? If so, free at 2pm Thu?
○ You need to have a list of venues ready
○ Have your reference list ready

● First meeting: Walk through the pitch deck. Leave the pitch deck behind. Guarantee 50% growth. Show
examples. Be ready with references. Agree on next steps. Lock the meeting date and time. Don't be
desperate … but also don't leave open ended.
○ Urgency factor: Delay in signing … meaning loss of potential sales
○ Throw things like: We had 20 bookings today across Mumbai

● Second meeting: Keep repeating 50% growth point and keep talking about the loss due to delay in signing.
This is critical. If the owners are meeting for second time, they are keen. You need to take them over the
hump.

● Negotiation: Once you guys have agreed to move forward, close on the term. Key ones:
○ Service fee
○ GST
○ Upfront payment
○ If MG, Floor price
 Wedding​z​.in SOP - Acquisition Team
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7. Email Format

Email Format Post Venue Meeting

Subject Format : MOM - Weddingz - (Venue Name) - 24082018 (Date)

Dear Name,

Greetings from ​Wedding​z​.in - India's largest wedding company!

It was a pleasure meeting you. As discussed in our meeting, below mentioned is the plan for the Business SM
Model that we discussed and attached is the contract of the same.

● Dedicated Sales Person stationed at (Venue Name) for handling all social & corporate event
● (Venue Name) will provide a basic infrastructure for the Weddingz salesperson
● Weddingz will market the property and ensure maximum visibility via its platform that will help to
generate more leads

Weddingz will work towards increasing the footfall at the property and with the help of (Venue Name)
Management drive maximum closures.

● Weddingz Service Fee - 10 % + GST. To be paid post booking once 30% booking amount is collected
from the client. In the case of Booking cancellation - Weddingz to refund entire service collected for
that particular event
● Corporate bookings that are done via Weddingz will also be entitled to service fee of 10% + GST

Deliverables from Wedding​z​.in:

- Dedicated Weddingz Team - that will provide professional customer experience to customers

- Weekly Sales Report ( will be generated every Monday) - Booking and Event Month Wise - This will help to keep a
track of sales numbers and future cash flow.

- Improved Customer experience during booking and during event via professional venue manager and event
program management ⇒ Rating of your venue will go up

- Weekly Drop Analysis Report (post recce drop) - Weekly meeting with our cluster heads and venue managers to
understand the reason for the drop - This will help us to understand the consumer behavior and basis which
mutually we can plan the weekly/monthly strategies.

- Monthly Comprehensive 'Content Marketing Report' - Cluster Heads will have a detailed discussion with the
Venue Owners on this and take their feedback, basis which the next month marketing activities will be planned.

- Minimum Revenue Model - Weddingz have created an MR model for each venue, cluster heads will discuss with
the owners get their approval and basis that will ensure that all the HOT dates are sold using this criterion.
 Wedding​z​.in SOP - Acquisition Team
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- Venue Manager training - We have a training program in place where we will be focussing on the training of the
VMs - sales, soft skills and personality development. We are also introducing a feature where all the calls to
customers will be recorded for the training purposes.

We believe that some customer who is debating between two venues may choose venue that offers loans
everything else being equal.

Value add ​for your​ Venue:

- Premium Positioning of the Venue on our website - 5L+ unique visitors every month
- Content Marketing - Blogs, Social Media Promotions, Real Wedding Coverage etc
- Email Marketing - Monthly/Quarterly emails to 1000+ unique customers "About the Venue"/ Special Deals at
the Venue (if any)
- Recommendation - Monthly min 300+ unique customers are recommended*
- Print Media Campaign - Your venue has always been a part of our TOI campaign and will continue to be there
as and when the campaign will start again

...and many more activities like Industry meet and greet, food tasting events etc.

To ensure we deliver what we promise - We have assigned Venue Managers, Cluster Head, Area Head,
Relationship Managers, Quality Check Team, Tech-enabled workflow to manage SOPs and a Lead Management
System.

Looking forward to your continued support - let’s together build a prosperous business

8. Update Meeting Tracker

Everyday team needs to update Meeting Tracker Daily + Meeting G-Form : Ahmedabad ​Link
(For other cities - Tracker will be shared by City Heads)

MoM
○ MoM is supposed to be sent post meeting to the decision maker, Venue/ Banquet/
Management team and/or Venue visit.
○ Alliance/ MoM mail specifying the day of meeting to be sent to the venue team by EoD of the
meeting.
○ In case it was just a visit kindly collect authority's email address and drop a mail specifying the
day of visit and requesting for a meeting.
○ All the meetings should have calendar invite.
○ City Head and Acq Head should be tagged in every mail and calendar invites.
 Wedding​z​.in SOP - Acquisition Team
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9. Pre-Signing Approvals (VCOMs)

Before signing any venue - We need to send Vcom Mail for approval TO:

West Zone:
● Sandeep Lodha (​[email protected]​)
● Ankit Bajaj (​[email protected]​)
● Hardik Thakkar ([email protected])
● Immediate manager
● Finance Team ([email protected])

North & East Zone:

● Sandeep Lodha (​[email protected]​)
● Sunny Nagpal (snagpal​@weddingz.in​)
● Rupesh Saluja ([email protected] )
● Immediate manager
● Finance Team (​[email protected]​)

South & Central Zone:

● Sandeep Lodha (​[email protected]​)
● Anurag Sinha (anurag.sinha​@oyorooms​.com)
● [email protected]
● City Head/Immediate manager
● Finance Team ([email protected])

A.​ SM Model - VCOM

New venue acquisition -- SM

About the venue

Venue Name

Area + Locality

Venue link from weddingz.in

Owned / leased

# party areas [please fill capacity details

below]

Price per plate

 Wedding​z​.in SOP - Acquisition Team
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What other venues does weddingz
manage in the area

Is this property standalone or in a mall or

office building?

Google rating + Wz rating [if available]

Is there a place for VM to sit? Please

describe the sitting arrangement.

Capacity by Party Area [Please share clear pics by party area]

Party Area Type of party area [AC Hall / Size in sqft [carpet / Seating capacity [Theater]
Non AC Hall / Dining Hall / usable area]
Lawn / Terrace / Pool etc]

Payment terms
%

GST extra [YES/NO]

Did we have explicit GST discussion [YES/NO]

Are we getting paid on Decor + DJ

Who is collecting money from customer? [weddingz / venue]

Weddingz to collect 25%. Once collected, we will keep our

service fee. Pass the rest to venue. Please confirm.

Did we have explicit conversation that wz will collect and that

wz to be paid first?

Did we have explicit conversation on walkin bookings? That we

will be collecting for walkins as well. Please confirm
 Wedding​z​.in SOP - Acquisition Team
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Expected GMV at the venue

Party Area Expected bookings per Expected billing per Expected GMV per party
month booking (Lacs) area per month (Lacs)

Total

Please discuss this property with cluster head and share the views. Feel free to take the CLH to the property

Cluster head views on this property

Name of cluster head

Current GMV and expectation setting

Do we know how much GMV venue does on
its own

How did we get the above data

Have we promised any GMV to venue

How many leads can we send to this venue

Signage
Do we have signage approval from venue

Did we have explicit conversation on

signage?

Rooms
Does the venue have rooms

Is OYO managing rooms

 Wedding​z​.in SOP - Acquisition Team
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If OYO not managing, what are commercials
on rooms

Decorator
Can weddingz have their decorator at the
venue

If yes, what is the royalty we need to pay

Business history with venue

Have we done business with this venue in the
past

If yes, please share business history

Any payment still due. Please get confirmation

from collection manager

Venue look & feel

Comparable venues

Any concerns on the venue

Bathroom clean? Entrance clean? Party areas

clean?

Any ongoing construction

Owner profile
Is this the primary business for the owner

Does the owner sit at the venue? If not, who

does?

Does the owner have other venues?

 Wedding​z​.in SOP - Acquisition Team
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SHARE LINKS OF PICS OF THE VENUE:

--------------------------------------------------------------------------------------------------------------------------------

B. MG Model - VCOM

New venue acquisition -- MG

About the venue

Venue Name

Area + Locality

Venue link from weddingz.in

Owned / leased

# party areas

Price per plate

What other venues does weddingz

manage in the area

Is this property standalone or in a mall or

office building?

Google rating + Wz rating [if available]

Is there a place for VM to sit? Please

describe the sitting arrangement.

Capacity by Party Area

Party Area Type of party area [AC Hall / Size in sqft [carpet / Seating capacity [Theater]
 Wedding​z​.in SOP - Acquisition Team
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Non AC Hall / Dining Hall / usable area]
Lawn / Terrace / Pool etc]

MG TYPE
Service fee payback / Margin payback

Payment terms
%

GST extra [YES/NO]

Did we have explicit GST discussion [YES/NO]

Are we getting paid on Decor + DJ

Who is collection money from customer? [weddingz / venue]

Is this venue on 25-10?

[25-10 means, we collect 25%, deduct service fee and pass the
rest to venue]

MG Payback
If service fee payback share details [what
are we paying back]

If margin payback share details [how

much are we paying back]

Recon timing [will the recon be done at

the end of year]
 Wedding​z​.in SOP - Acquisition Team
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Current GMV and expectation setting

How much business has the venue done in the
last 12 months?

How have you checked above? Provide details

and attachment.

How many events has the venue booked for

next two months? GMV booked?

What is the electricity cost per event?

What has been the electricity bill for last 12

months?

Basis electricity bill, number of events done?

Expected GMV at the venue

Party Area Expected bookings per Expected billing per Expected GMV per party
month booking (Lacs) area per month (Lacs)

Total

Target setting
What is the min GMV have we promised?

If more than last year, how will we achieve

that?

Please discuss this property with cluster head and share the views. Feel free to take the CLH to the property

Cluster head views on this property

Name of cluster head

 Wedding​z​.in SOP - Acquisition Team
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Floor price
What is the floor price of food?

PAX RANGE

<100 100-200 200-300 300-400 400+

PKG 1

PKG 2

Decorator
Can weddingz have their decorator at the
venue

If yes, what is the royalty we need to pay to

the venue

Potential loss
How much revenue do you realistically feel
we can achieve

Hence what is the total payback / loss

expected

Signage
Do we have signage approval from venue

Rooms
Does the venue have rooms

Is OYO managing rooms

If OYO not managing, what are commercials

on rooms

Business history with venue

Have we done business with this venue in the
 Wedding​z​.in SOP - Acquisition Team
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past

If yes, please share business history

Any payment still due

Venue look & feel

Comparable venues

Any concerns on the venue

Bathroom clean? Entrance clean? Party areas

clean?

Any ongoing construction

Owner profile
Is this the primary business for the owner

Does the owner sit at the venue? If not, who

does?

Does the owner have other venues?

SHARE LINKS OF PICS OF THE VENUE:

10. Draft Contract Copy

● SM Contract:- ​Link
● MG Contract:-Payback Margin Contract - ​Link
● Important Note:-
1. If Multiple partner/owner is involved in a property then we need to take the signature
of all the partner/owner in a contract
2. Need Additional signature & Venue Stamp on Payments, Consideration & Branding
Clause, or else finance team will not approve the contract and venue will not get started
3. Approved VCOM and Contract should match (T&C should be same) - Or else it will get
rejected by finance team
4.
Note - Any change in the contract points, needs approval of:
● West Zone- Hardik Thakkar or Ankit Bajaj
● North or East Zone- Rupesh Saluja or Sunny Nagpal
 Wedding​z​.in SOP - Acquisition Team
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11. Four Non-Negotiable Clauses in the contract

A. Working space for Venue Manager - Venue Should give us a proper sitting place for Venue Manager from
where he/she can work and add value to the venue

B. Payment Clause - Weddingz will collect the booking amount from the clients and will deduct the
weddingz fee from that. Post deducting the service fee, balance amount will be transferred to the venue
in 7 business days

C. Signage ​- Weddingz need a space at property for signage ​(Should have good visibility)

D. GST ​- Weddingz will always raise the invoice with GST (Service fee + GST) - Not related to venue books &
clients payment mode

12. Post Signing Activities

Post signing contract, Weddingz Pre-Start Team works on following things:

Pre-Start Activities​:

● Once the entire status is marked in Green post that only we can start any venue
● Sakshi Rai (​[email protected]​) & Deepthi Parab (​[email protected]​) takes care of entire pre- start
activities

Activity Status

Venue Manager Staffing

Cluster Manager Staffing [Also will be at the venue until stable]
Week coverage plan + week-off plan + emergency plan

Training on the venue

Venue Cheat Sheet [how to sell] + Scripts + Whatsapp templates
Price Grid + MR Strategy
Menu + Other collateral (folders) -- Designed + Printed
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PPT + Videos to show/send to customers

VenueAPP configured [to track availability[

NV book designed + printed
VenueCRM up and running [to manage leads effectively]
Leads for last 15 days on VenueCRM

Growth file up and running [to track attendance]

Target setting for the VM team [in line with targets given to venue]
Reco logic tested [so that appropriate customers get this venue]
RM team trained to pitch to appropriate customers

Website updated -- Positioning + Content

Update price + deals on website
3 month marketing plan created -- Blog + Insta + FB + Deals + Pop-ups etc

13. Fresh Onboarding EMail (Internal Team)

Mail to - Sakshi Rai, Deepthi Parab, City Head, Regional Head & immediate manager

Subject -​ ​Fresh On Boarding - (Venue Name)

Hello Team,

Would like to inform that we have on-boarded a new ​SM/MG​ venue in (Location)

Please find the below details:

Venue Name:
Address:
Contact Person Name:
Email:
Contact Number:

@Ankit Bajaj​ Kindly please assign the Cluster Head

Note: Attach Contract copy and Documents in this mail

 Wedding​z​.in SOP - Acquisition Team
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14. FAQ - by Owners

● Why should I pay for my walkins

○ We increase walkins. We don't have a model where we cannot increase walkins.
○ Clashes start to happen if the lead is a walkin lead or a weddingz lead, leading to conflicts
○ If weddingz gets paid on overall, everyone's incentives are aligned to pushing sales and nothing
else

● I will not pay for my walkins

○ Explain why they need to pay. We don’t have any dynamic inventory model. Happy to provide
MG if they feel there is a risk
○ In this business there is no guarantee of sales. But happy to protect last year’s sales. We can
provide a MG to you

● 10% is too high

○ Sir we generally provide 30-50% growth. You should look at upside. You should focus on other
businesses and let us run this. 10% margin for this is nothing

● You should get paid post event. What if customer does not pay?
○ We are accountable to get 25% from the customer. Our internal systems are setup so that we
collect 25% from the customer
○ We are a sales and marketing co. Our role is to get sales and hence we need to be paid on sales
and not on event execution

15.Important Links

● Model - Presentation Link

● Email Format Link

● Vcom Sample - SM & MG Link

● Pre-Start Activities Link