Do you consider yourself a romantic person? And are you great at planning events? Then why don’t you mix both of these passions and do business out of it?
The perfect business opportunity for someone like you is a wedding planning business. By being a business planner, you are able to run wild with your event planning ideas with a romantic flair to them.
But how would you start a wedding planning business? In this article, we are going to tackle this exact question. So keep on scrolling down.
How To Start A Wedding Planning Business?
So, before starting a wedding planning business read these guides. Therefore, you will have an idea to plan it accordingly.
1. Acquire The Training Necessary
If you don’t have any experience running a business, then you should consider taking training before you open a business of your own. You need to learn basic business skills to run a business on your own.
You can join certain organizations like the American Association of Certified Wedding Planners to get a certificate for the wedding planning business.
To learn the business firsthand, you can intern with a wedding planning business and learn the comings and goings of the business.
2. Have A Great Business Plan
Now that you have the basic training and certifications for running your own business, you need a business plan. For any business to be successful and profitable, the core is to have a great business plan.
Start with opening a business account in your bank. Then decide on business names and a domain name in your region. Having the right name is very important for any business.
While making a business plan, you need to have proper information and services of the business you are offering. With that, you need a solid marketing strategy and financial planning.
3. Have An Idea Of The Services You Offer
When you are creating a business plan, you should already know the services you are going to offer. When it is a wedding planning business, there are certain services you should think of.
There are several options you can go for with wedding planning. There are wedding consultations, full wedding services, and even partial wedding services. With each of the services, the prices are also different.
4. Take Care Of The Legal Area
One thing you should keep in mind is that when starting a wedding planning business, you need to have proper documentation and other legal certificates ready. You need to choose a business structure that will determine the tax that you would pay and also protect all personal assets of yours.
If you are in the US, you need to apply for the Employer Identification Number. This will enable you to file taxes, open a bank account and also hire people.
5. Have Control Of Your Finances
On average, in the US, a wedding planning business makes about $49,370 each year. But to make that figure yearly, you need to have control of your finances.
Starting off, you need to have the essentials such as computers, phones, and other software and office supplies. This might cost a significant amount. But after that, you need to focus on cash flow inwards and not outwards.
6. Create A Wedding Planning Brand
To find success in a business, you need to have a unique brand. The more unique your brand is, the more you are going to attract clients to your business. To make your business stand out and unique than the rest, you can do a few things.
- You need to have a unique niche that is different than the rest.
- The logo and the name you chose for the business should have a unique ring to them.
- The overall look and tone of your business should also be different than the rest.
7. Have Trusted Vendors
Now with a wedding planning business, it’s not possible for you to arrange everything, you need to have vendors. Like caterers, decorators, furniture renters, and also florists. So you need to manage all of them.
When you are working with different vendors, you need to have people who are professional and trustworthy, and whom you can rely on. And moreover, you need to maintain a good relationship with all of them and coordinate properly.
8. Create Concepts For Your Portfolio
When you are starting off as a wedding planner, you might not have a proper portfolio right in the beginning. But what you can do is have mock-ups of wedding themes, which would be highly marketable.
Your portfolio should have the trendiest wedding decors, themes, and the most popular wedding venues. With all the latest and trendiest stuff in your portfolio with the best vendors in hand, your portfolio will look great.
9. Promote Your Wedding Planning Business
For any business owner, it is important to promote your business as much as possible. And to do that, you need to create a business website foremost and have an online presence.
There are many ways through which you can promote your business. Some of these are digital marketing, word of mouth through friends and family, and finally, social media. Any and all of these marketing techniques are going to do wonders for your business if done right.
Frequently Asked Questions (FAQs):
As a wedding planner, your income or profit completely depends upon the client you are working for. Also, the magnitude of the ceremony also influences the profit you are going to make. Let’s say you are planning a wedding for 10lac; you will be getting a 1lac of profit.
Wedding planners make money by charging for the services they are providing to their clients. Other than standard costs, there might be specially added costs for certain services.
In order to sell yourself as a wedding planner, follow the necessary steps:
1. Your aim should be to convince your clients to buy your service.
2. Use social media to promote your event planning business.
3. Networking is the key!
4. Social media is not always the key; offline marketing is important.
Wrapping Up!
Like any other business, the wedding planning business also has certain obvious steps initially. You need to have a creative mind to come up with new themes and concepts for every wedding event.
As a wedding planner, you need to know how to juggle a lot of things at once. But if you are successful with your venture, then getting bigger clients would be easier. Wedding planning is a multi-billion dollar industry. So with a bit of effort, the reward will be huge.
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