How To Start A Wedding Planning Business? [Business Plan!]

Table of Contents:

1. How To Start Wedding Planning Business?

2. Steps For Starting A Wedding Planning Business

3. Wedding Planner Business Plan

4. How Do I Start A Wedding Planner Business?

5. Do You Need A Degree To Be A Wedding Planner?

6. How To Be A Successful Wedding Planner?

7. Risks Of Starting A Wedding Planning Business

8. How To Have a Green Wedding in India?

9. Key Takeaways

1. How To Start Wedding Planning Business?

With the winter winds sailing our ways, India has reached its official wedding season. Planning a wedding can be full of craziness, excitement, confusion, and overall overwhelming. Most people dream of the picture-perfect ceremony that'll leave their guests awestruck. While a few others work day and night to make the couple's wedding dream come true.

Wedding planning is one of the best yet hectic jobs in the event industry. Indian requirements for weddings come in various sizes from a close-knit reception to a destination wedding. Hence, the need for a wedding planner is extremely important to help you out from the beginning to the end of all ceremonies. Let's learn all about- How To Start A Wedding Planning Business In India?

2. Steps For Starting A Wedding Planning Business

Before you put your investment money into starting your own wedding planning business, read these tips to understand the skills you need to become a wedding planner-

1. Pick a Business Name & Type- The first thing to think before How To Start A Wedding Planning Business is a business name will be responsible for client attraction while the type of firm or service you will provide will be responsible for the future clientele. Different packages for various budget couples give them an option to choose and decide their needs.
2. Get Relevant Experience- Research on different wedding planning businesses and intern/work with them for an insider experience. You can also apply for event management firms to get a hang of handling large-scale clients and the commitments involved per event i.e, from costing to execution.
3. Have a Solid Business Plan- As we have always known, a business without a plan fails faster than anything. This includes choosing a business name, financial management, long and short term goals along with target clientele.
4. Be Clear with your Goals- While goals keep changing with time, it's important to be consistent with your dedication. Do you want to organise celebrations amongst the local crowd, or do you want to make it big and reach out for the big leagues someday? Figure out your forte, that'll help you get more organised in planning.
5. Conduct Industry Research- Just dreaming of opening your own wedding company won't become a successful affair overnight. You need to read and research thoroughly on things like- competitors, wedding planning books, wedding blogs, and explore the websites. It will give you a briefer and realistic understanding of the wedding market in India.
6. Getting A Team- Before deciding the financial commitments, you need to figure out the team, you will need ready for every wedding pitch. Some important resources that are mandatory include- decorators, caterers, venues, travel arrangements, musician or band, choreographer, Mehendi artists, and clothing. If you are a beginner, you can opt to hire freelancers instead of a full-time team to save time and money.
7. Jot down your Investments- Every business needs a basic amount of standard investment, that'll help the operations get started. From a hefty hard drive, good quality laptop, co-working space for meetings, or home office are a few that come obligatory. For the initial wedding planning business, start-up costs may range anywhere between 5 lakh to 15 lakh rupees.
8. Marketing Strategy- The story of every successful business starts with a vigorous marketing plan. If you have started organising ceremonies, it's time to start your marketing process. The best techniques for marketing your business in 2020 are- word of mouth, setting up a brief website, begin and invest in social media platforms like- Instagram and Facebook.
9. No Fixed Work Hours- Wedding planning ain't an indoor desk job and it ain't a fixed timing work. Flexibility is key in this field, you have to learn working extra hours or be present during any emergency. From late-night calls to early morning staff supervision, everything is your responsibility. The client's happiness and satisfaction lie in the hands of the wedding planner.
10. Track Your Earning- A grand ceremony can help you earn a commission of over 10 to 15% of the total budget. For example: If the wedding cost was around 20 Lakh Rupees, you can easily earn around 2 Lakh rupees.
11. Presence of Mind- A sudden last-minute cancellation to unavailability of materials are some of the common crisis that is bound to happen during a wedding. In such situations, keeping your calm and dealing with the vendors is a primary factor that you should develop. It will take a few years to build up your reputation, but once you get the hang of it, profits come pouring in.
12. Licenses & Permits- Structuring your business as per the legal laws and tax purposes is an important step. Choosing an LLC (Limited Liability Company) as your business entity might help you prevent any judicial repercussions. Registering your business will help establish your brand identity and strengthen your goals. All federal and local permits should be ready before you start organising weddings.

3. Wedding Planner Business Plan

Your wedding planner business plan needs to include the following things-

1. Goals and methods to achieve them
2. Generate a business backstory via a website or other portal
3. Brief of products and services you will be offering
4. The gist of the Market Analysis to mark your target
5. Estimate out milestones as you progress along the way
6. Financial summary- anticipated, fixed, and variables
7. Staff and management planning for a better organisational structure
8. Jot down your expertise as a company hence defining its USP

4. How Do I Start A Wedding Planner Business?

Before you begin venturing to curate your How To Start A Wedding Planning Business, you must have a lot of things in place like- Get all the training and skills needed to begin in the business. In the wedding planning business, you need to have a strong business plan or proposal ready for pitch. Keep your services defined beforehand to avoid any confusion between clients.

Do not forget to fulfil all your legal documentations and other requirements. Other things to keep in mind are your- cash flow management, Branding plus awareness, finding trusted vendors, and curate customised wedding concepts. This will ensure a trust between your clients and also provide them with numerous options for their special day.

5. Do You Need A Degree To Be A Wedding Planner?

Getting a professional certification for wedding planning business is always a good idea, it has a lot of benefits like-

• Helps you build your event experience portfolio
• Encourages you to develop long term relations and client management skills
• Learn from the industry experts to get insights
• Gain insider secrets from planners
• Learn how to manage a crisis
• Understanding client needs better
• Creating budget plans
• Understanding location and themes
• Studying tips and tricks on decor
• Get hands-on experience in live events
• Assist in party planning and administration
• Learn to develop personalised wedding plans
• Discover resources, vendors, and clients
• Understand Food and Beverage along with Hospitality & Logistics

6. How To Be A Successful Wedding Planner?

There is a difference between a general wedding planner and an excellent one. A certain set of understanding the job requirements might help you get in the wedding planning market easily like-

1. Empathise with the clients and families
2. Develop a "never stop learning" mindset
3. Be available for all kinds of Q & A's
4. Predefine the type of packages/services with rate charts
5. Meeting clients one on one to understand their needs
6. Respect clients preferences and don't pile up
7. Develop immense communication skills
8. Be organised while multitasking
9. Sustain good relations with professional resources
10. Manage clients paperwork, licenses, and signature formalities
11. Price correctly; understanding local rates and negotiate accordingly
12. Try throwing free events for experience and portfolio

7. Risks Of Starting A Wedding Planning Business

Before commencing your wedding planning business, you need to be aware of the risks of becoming a wedding planner in India. Since most of the weddings in our country happen during weekends, you won't be having much free time during weekends. Acknowledge scheduling day-offs during the week to reduce burnout. Moreover, you can’t build a loyal or regular clientele from a wedding planning business.

Your previous clients might advocate you to their friends and families, but it’s not probable that those who've worked with you might hire you again. You must also market your business extra during low seasons. Curate a strategy that inspires more people to get married during off-seasons. Contrarily, you might jeopardise losing income during unoccupied times.

8. How To Have a Green Wedding in India?

1. Weddings have always held incredible importance in society and it is arguably the greatest day in a person’s life.
2. As a result, people always want to make their weddings as memorable as possible.
3. In order to create this perfect and picturesque day, so that it remains etched in everyone’s minds, people tend to buy impulsively a huge amount of items.
4. Weddings have got extremely extravagant over the years, but what we tend to forget is that this extravagance comes at the cost of a large amount of waste (both biodegradable and non-biodegradable).
5. Paper goods, torn flowers, excess food, hordes of plastic and a host of other waste items, are produced as the byproduct of any wedding.
6. Even though it may be hard to imagine, wedding wastes contribute significantly to the worldwide Carbon Footprint and Landfills.

9. Key Takeaways

It isn't rocket science to venture into the wedding planning business, but with dedication and quality experience you can start easily. Just follow the above wedding planning tips and checklist to get you going from the initial hurdle.

Also read:

1) How To Start An Organic Products Store?
2) Online Business Ideas That Could Make You Hit Gold in 2020
3) Unique Packaging Ideas for Products: How impactful it is?

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FAQs

Q. How much money do you need to start a wedding planning business?

Ans- Every business needs a basic amount of standard investment, that'll help the operations get started. From a hefty hard drive, good quality laptop, co-working space for meetings, or home office are a few that come obligatory. For the initial wedding planning business, start-up costs may range anywhere between 5 lakh to 15 lakh rupees.

Q. Is wedding planning a profitable business?

Ans- In the wedding planning business, the profit margin depends on the scale of weddings you organise. A full-stack wedding planner can rope in around 10-15% commission from the total budget. For example: If the total budget of the wedding is 20 Lakh Rupees, one can easily earn at least 2 Lakhs.

Q. Is it hard to start a wedding planning business?

Ans- Yes, it is a pretty hard business to start as you're the front to end for your company. From the visionary to the execution, everything will be under your control. But the rewards for the same are pretty beneficial if you plan and operate your business well.

Q. Do wedding planners make a lot of money?

Ans- Any wedding planners income depends on their experience and clientele level. Wedding planners who have been regularly working for 5 years can pull down annually 65 Lakh Rupees, while planners with over 10 years of can easily earn around 75 Lakhs annually.

Q. How do wedding planners get clients?

Ans- Some of the methods via which wedding planners get clients are:

• Intern with a good agency or a popular wedding planner to get a lay of the land(industry).
• Start with hosting local wedding to build networking.
• Create a website filled with blogs of your special moments at weddings planned by you.
• Try other marketing mediums like- Podcasts, Social media influencing, email marketing.

Q. Is a wedding planner a good job?

Ans- Wedding Planning Business is an extremely rewarding career. People never stop getting married whatever the situation, hence, you will never undergo a downturn in wedding planning job opportunities.

Q. What qualifications do you need to be a wedding planner?

Ans- A background in event management is highly desirable and beneficial for you to need to be a wedding planner.

Q. How many years does it take to become a wedding planner?

Ans- If you're going for a certified course in wedding planning, an average course ranges up to 3 months, where you receive the following things:

1. Graduation Certificate
2. Tips and Tricks of the Trade
3. On-site experience
4. Internship Certificate (if applicable)

Q. Can you be a wedding planner without a degree?

Ans- No, you do not need to be a college degree to become a wedding planner but to lay down a powerful foundation you can go for the following educational degrees:

• Event Management
• Communications
• Business Management
• Public Relations
• Marketing

Q. How can I start a wedding planning business with no money?

Ans- For starting a wedding planning business you must follow these steps:

1. Step 1- Develop a website.
2. Step 2- If you have got the talents to create your website, there will be the least start-up costs.
3. Step 3- If you don't have the professional skills, work with a freelance web developer, who'll be much cheaper than a web designing company.