The key ways to market and promote have already been mentioned. You should use a combination of a professional-looking website, social media presence, and advertisements via newspapers, radio, and television.
Flyers, business cards, and other print advertisements at locations like florists and hotels can also help to catch the eye of couples looking for a planner. A website is essential for promoting your business and attracting customers. Weebly is a great tool. In addition to using the advertisement methods above, you should run contests via social media where people can win things like dresses and discounts from your affiliated vendors.
To add to the impact of such contests, part of the free entry should be customers writing sweet poems or stories about how they met their significant others. People get excited about the prize but quickly come to associate your business as a place that understands and cares about why people fall in love.
This helps spread word of your business and its contests via traditional word-of-mouth advertising. Most wedding planners start out on their own. This makes it easier to create a cohesive vision for weddings and to make sure everybody sticks to a set game plan. However, there will always be more weddings than you can reasonably work, so when you have more interested clients than you have time to serve them, it may be time to hire a partner or a team.
While this can make things a little harder to organize, it does give you the flexibility of hiring people that are naturally better at some of the aspects of the job you are weaker at such as hiring someone who studied graphic design and making sure they are in charge of creating invitations and wedding programs. In most states, it is necessary to obtain a business license. Most businesses are required to collect sales tax on the goods or services they provide.
To learn more about how sales tax will affect your business, check out our informative guide, Sales Tax for Small Businesses.
Wedding planning businesses should require clients to sign a services agreement before starting a new project. RocketLawyers Make your Free Wedding Planner Agreement clarifies clients expectations and minimizes the risk of legal disputes by setting out payment terms and conditions in advance. Here is an example service agreement.
Rocket Lawyer makes it easy to create a professional service agreement for your wedding planning business when you sign up for their premium membership. Structuring your business as a limited liability company LLC ensures your personal assets are protected in the event your business is sued. What is an LLC? How much you charge, and how you charge, is usually contingent on how much you have to do.
Another highly attractive feature of being a wedding planner is that there are almost no ongoing expenses. The various costs related to vendors for the wedding are paid for by the couple, and if you are operating out of your home or meeting clients at their own homes, the only real ongoing cost is your advertising. How much profit you make is mostly a matter of mathematics. To make your business more profitable, offer incentives or prizes to people who refer friends to you.
Consider sponsoring monthly parties where you talk about how people can have a perfect wedding, and offer them a chance to win a nice door prize for attending. Aside from ideas like these, the best thing you can do is to do the best job possible on the weddings you plan and let positive word of mouth do the rest! Get more ideas with our Business Ideas Tool. Check out our How to Start a Business page. Sign up at the Business Center to access useful tools for your business.
What are some skills and experiences that will help you build a successful wedding planning business? What are the costs involved in opening a wedding planning business?
What are the steps to start a wedding planning business? Once you're ready to start your wedding planning business, follow these steps to ensure that your business is legally compliant and avoid wasting time and money as your business grows: A clear plan is essential for success as an entrepreneur. A few important topics to consider are your initial costs, your target market, and how long it will take you to break even.
Form a legal entity. Establishing a legal business entity prevents you from being personally liable if your wedding planning business is sued.
You will need to register for a variety of state and federal taxes before you can open for business. Open a business bank account. A dedicated checking account for your wedding planning business keeps your finances organized and makes your business appear more professional to your customers.
Set up business accounting. Recording your various expenses and sources of income is critical to understanding the financial performance of your business.
A wedding business can take various forms, from bridal boutique to wedding consultant. If you love all things wedding-related, you are motivated and would enjoy the challenges that come from working for yourself, starting a wedding business makes sense. There are many directions your wedding business can take. If you love photography, you can start a business taking professional photos for the bride. If you are particularly organized and savvy in the latest wedding trends, starting a wedding consultant business could prove lucrative.
Or you may elect to open a bridal boutique. Evaluate your skills and interests and compare those with the skills needed to operate various business types to help you determine where you would fit best. Compare your business model with other successful entrepreneurs in your field to ensure that you can compete. Obtain a list of all of the wedding planners or boutique owners in your area and then visit the store or website to learn about the types of services you should be offering, competitive pricing, affiliates, staff requirements, industry resources and suppliers.
Wedding consultants wear many hats. They are adept in hospitality, event planning, music, decorating, food, photography and fashion. Boutique owners must also be aware of the latest trends in wedding locations and fashion. You can also find vendors and get your business listed, once it takes off. Consider obtaining certification in your field, such as with the Association of Bridal Consultants or the Association of Certified Professional Wedding Consultants. Develop a business plan that details your vision for your business, your target market older brides, frugal brides , how you intend to reach them and how you intend to compete.
Then identify your business expenses for supplies, advertising, insurance, business permits, location and staff if applicable and inventory. If operating as a consultant, a sole proprietor may be the way to go.
However, LLCs offer liability protection for your personal assets. An accountant, attorney or successful business professional whom you respect can help guide you.
And apply for a sales tax permit and federal tax ID.
On-site wedding coordination is a viable career path that might serve your interests well, but if and when you decide to launch your own wedding planning business, consider following these five steps.
Wedding Planning Business Facts. Here are some facts and figures about the wedding planning business you should consider: Wedding planning business startup costs. Entrepreneur estimates that a wedding planning startup can run between $2, to $9, This would include office supplies, equipment, and furniture; financial, word processing and wedding planner software and a computer.
A wedding planning business may help couples with any and every aspect of planning for the wedding. This may include helping pick clothing for all parties, creating thematic decorations and décor, picking a wedding cake, handling photography and video, and more. Starting a Wedding Planning Business from Home – A Complete Guide The Wedding Planning Industry Overview According to the Association of Bridal Consulting, million weddings are held every year in the United States and weddings make up $51 billion in the United States.
Event planning can be a seasonal business; demand for Christmas parties creates a festive peak season, while enquiries about wedding planning services frequently follow prime engagement periods of Christmas, New Year's Eve and Valentine's Day. The Bureau of Labor Statistics expects event planning to increase at a much faster than average rate between now and A wedding planning business may be .