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A Wedding is an important event in which people willingly spend a huge sum of money to ensure everything is in order. Wedding planning involves venue selection, flower decoration, DJ or band hiring, photographers booking, menu selection, bridal dress selection, and a lot more things that are difficult to manage. Here, wedding planners come to the rescue.
In the last decade, the steep growth in wedding planners’ market size is experienced, that’s expected to become $1.2 billion by 2023 in the USA. Post-corona, the wedding market size, and revenue get a facelift but the Russia-Ukraine war influence is projected to revise by 2028.
Millennials and high-class people are increasingly employing wedding planners to make their special day- very special. Have you decided to start your wedding planning business? Do you want to work with big clients, get featured in magazines, and be recognized as one of the top wedding planners globally? If so, you need to learn how to start your wedding business.
Here we have come up with a guide that helps you build a profitable and scalable wedding planning business. Take a deep dive to stay on the right track and grow your wedding planner business gradually.
The 10-step guide helps wedding business planners to get started effortlessly and market their business to grow boundlessly. The steps are-
Establishing the goals for the wedding planning business is all-important as they change over time, which requires plan changes as well. For instance, you are planning for a celebrity wedding, a millennial wedding, a destination wedding, or small-class people wedding business. After selecting one of the options, industry research is vital.
Under the market research umbrella, you should be ready with a list of questions- how can I get the first customers, know the minimum expectations of the target customers, and how to get started? The research help in building a solid foundation for the business. Thereafter select the right business models based on your business needs.
The budding entrepreneurs willing to start a wedding planning business with no prior experience need formal training to acquire the necessary skills to become wedding planners. You can join organizations that provide wedding planner certifications or join online courses for wedding planners hosted by wedding professionals. Also, assisting local wedding planners in their wedding planning events is a pro tip to gain experience.
You need to learn about customer service, marketing, finance management, and other event planning topics. Join networking events organized for event planners and wedding professionals and learn them face-to-face.
The business to plan a wedding comprises different wedding planning services that you should select before you get into the details of business planning and its setup. Majorly, wedding planners opt to provide the wedding planning service in three different packages that are-
This type of business offers comprehensive planning and coordination services from start to finish. They handle every aspect of the wedding planning process, from vendor selection and negotiation to day-of coordination. Different types of this include traditional wedding planners, extreme wedding planners, and budget-friendly wedding planners.
As the name suggests, the coordinator is responsible for overseeing all the details and getting all the necessary assistance for all the events of your wedding day to ensure that everything runs smoothly. They usually come on board a few weeks before the wedding day to ensure all plans are in place and executed perfectly on the big day.
This type of wedding business provides support for specific aspects of the wedding planning process, such as vendor selection, budget management, or timeline creation. This option is ideal for couples who have already completed a significant amount of planning but still need help with certain tasks.
This wedding business specializes in planning weddings at exotic locations, both domestically and internationally. They have the expertise and knowledge to help you navigate the unique challenges of planning a wedding away from home.
The business providing luxury wedding planning is an expert in creating extravagant and elegant weddings. They have access to the best vendors, suppliers, and venues, and provide their clients with personalized, top-of-the-line service.
This type of wedding business specializes in a specific type of wedding, such as beach weddings, eco-friendly weddings, or LGBTQ+ weddings. They have in-depth knowledge of the challenges and opportunities associated with their niche and can provide tailored planning and coordination services.
When you have got the necessary training for the business of planning a wedding and decided on the wedding planning services to offer, it’s time to create a solid business plan that helps in building the business from scratch. Basically, a business plan includes- business information, wedding planning services, management strategy, financial plans, and marketing strategies that create a roadmap that helps in making the business profitable.
The business illustrates the goal of starting a wedding planning business, identifies target customers, creates financial plans to arrange funds, revenue models to make money, and much more. The business plan helps in comprehending business structure, which further determines if you need a business license, need to open a business bank account and pick up a business name.
Also Read: How to choose the best Business Plan for your startup?
The wedding planning business registration is critical to becoming a legal entity to run the business glitch-free. The wedding planner business can opt to register as a sole proprietorship, general/limited company, or limited liability company. Generally, small wedding planner businesses prefer to be registered as LLCs. If you are unsure about this, hire an attorney for the required consultation.
When the business structure is chosen, the business name is selected that’s available as the domain in the region gets registered with local authorities. Not to forget, obtain EIN (Employee identification number) even if your business is a one-person business because gradually as your wedding planner business grows, you need to scale the staff. EIN helps in filing taxes, opening a bank account, getting business insurance, and other business necessities.
Keeping the business account and personal account transactions is healthy for your wedding planner’s business growth. The EIN helps in getting a business credit card or business bank account. When wedding planners need to set up their business, they work either from a home-based office or working out of the house to buy décor or marketing products.
When wedding planners are outside, having a business credit card helps them complete the purchases easily. In the same vein, having a business credit card helps in filing for tax seamlessly and increase business credit score.
Regardless of the size of the wedding planning startup you are launching and the place from where you are operating the business- a home-based office or business space, you definitely have some expenses to start a wedding planner business. You need funds to start a new venture when you don’t have enough savings to cover the initial cost.
You can opt for getting a business loan, raise funds by showcasing the business plan to investors, and get interest-free APR business credit cards. The latter option is preferable as it allows wedding planners to set up their business cost-effectively without any burden of interest.
The wedding business requires showing visual proof to the prospects that make customers stop in their tracks. Create and publish a logo on your wedding planner website that’s unique and memorable. Place the design elements aptly that make the brand visually appealing.
Take care of the brand’s voice and tone with contextual content even on social media. It is to be made sure that the wedding planner business looks professional and communicates wedding planner services to potential prospects well.
A better idea here is to get an app developed for your wedding planner business that will ensure your customers that every aspect will be looked into in the most appropriate manner.
It will include features wherein customers can check the available options for all their requirements and be timely notified of the preparations made for every wedding function. Thus the app development for wedding planning will strengthen customers’ trust in the brand.
Brand building is accompanied by business marketing to continuously draw in maximum customers and convert them at scale. To summarize the branding and marketing aspect here’s a tried and tested approach to promote and market wedding planner business services-
Enable online presence by opting for quality web development and adding a business name to My Google business page that improves organic traffic. It is suggested to first build a website and get a response on how it is working and what changes are required. Then based on the budget you have in hand you can plan to top it up with a mobile app.
Create social media pages on various social platforms such as Facebook, Instagram, or Pinterest where people are searching for wedding planning business services. The insights from social platforms help in improving marketing strategies.
As people spend more time on their mobile phones, event management app development is on the rise. It makes perfect sense to get build a mobile app that enables business owners to view potential venues, manage appointments with calendars, connect with clients, and plan budgets at their fingertips.
Publish the reviews of the existing customers on the website and social platforms that inform the people about unique services that are well-liked by the customers.
Begin publishing blogs on the website or even start guest blogging for leading wedding planner magazines or blogs that helps in spreading the word about your business.
When you are starting a business to plan weddings it is crucially important to locate and establish relationships with vendors and suppliers in the wedding industry who can provide the products and services you need to plan and execute successful weddings. These vendors might include florists, caterers, photographers, musicians, and other professionals who play a role in creating the wedding day experience and making the occasion memorable.
Having trusted vendors is important for a wedding planning startup because it ensures that the products and services you offer your clients are of high quality and reliable. It also helps to build trust and credibility with your clients, as they know that they can count on you to provide them with the best possible wedding day experience. Building relationships with trusted vendors can take time, but it is a critical aspect of starting and growing a successful wedding planning startup business.
When starting a wedding planning startup being creative, innovative, and unique are the utmost required skills that clients ask for before all. So to be a step ahead developing unique and creative ideas for weddings should work well. Creating wedding concepts is an important aspect of starting a wedding planning business not only helps you to stand out from other planners but also offers your clients to visualize something truly unique and memorable.
A wedding concept is essentially a theme or vision for a wedding, which can guide all aspects of the planning process, from the decor and color scheme to the menu and entertainment. Clients often look to wedding planners for inspiration and guidance, and having a variety of well-defined wedding concepts can make it easier to attract and retain clients.
When developing wedding concepts, it’s important to consider your target audience and their preferences, as well as current trends in the wedding industry. You should also take into account the availability and cost of different vendors and suppliers, as well as the logistics of executing each concept. With careful planning and creativity, developing wedding concepts can be a rewarding and lucrative aspect of starting a wedding planning startup.
The business of planning a wedding is a profitable one and doesn’t require you to have any degree to start the business right away. Hold on! To survive and thrive in the lucrative market, you need to have some skills, dedicatedly paying attention to details, and be committed to giving the best shot. With everything ready, launch the wedding planning business step by step to make the ‘once in lifetime event of the people special.
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The world is now very much compact, we call it Global Village as a result of digitization and this impresses him! He likes to explore the nooks and corners of the incessantly modernizing world and marvel technologies. He leads the Digital Marketing Team at Prismetric. His passion for digital trends taught him the knack of reaching the huge digital mass to find business opportunities instantly. He writes articles about digital, technical and marketing tactics for business enhancements.
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