Starting a Wedding Planning Business From Your Home
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What’s the Wedding Business Like?
Communicate with vendors Send out invitations Plan receptions Secure venues Manage finances Track RSVPs
Steps to Starting a Wedding Planning Business
1. Determine the Type of Wedding Planning Business You Want to Start
Full-service wedding planner: You plan everything, beginning to end. Day-of wedding planner: Help keep couples on time and on top of everything that needs to be done the day-of. Destination wedding planner: Destination wedding planners scout out locations that the couple may want to get married in. They learn about local rules and regulations, and speak with community vendors on the couple’s behalf. Month-of wedding planner: Designed for couples who want to plan their entire wedding themselves but still want some help speaking with vendors, managing payments, and arranging deliveries. Weekend coordinator: Weekend coordinators are best utilized by couples who are having multi-day weddings with many guests and non-wedding activities. Custom wedding planner: Perhaps you want to offer your clients an á la carte approach. For this, customers choose which services they want your help with. Vendor specialist: A vendor specialist helps couples review contracts, gives them referrals for noteworthy companies, and helps them scout out various venues and vendors they may be considering.
2. Take an Online Course
3. Determine Your Ideal Client and Write a Business Plan
4. Choose a Business Structure
5. Register and get an EIN
6. Secure Funding
7. Advertise Your Services
How to Write a Business Plan as a Wedding Planner
Company description: What will your company do? Who will it serve? Competitors: Look at what your competitors do to gather business. What services do they offer? How much do they charge? Legal structure: Who runs your business and how is it structured? Services: Will you only offer one service, or will customers be able to pick and choose what they want? Advertising and marketing: How will customers find out about you? Funding: How much money is needed to get started?
Methods to Receive Funding
Bootstrapping: Save up until you can fully fund all expenses on your own without any outside help from lenders or investors. Investors: As a new start up, you may have trouble securing funding through an investor. However, if you have a unique angle to offer the world, investors may want to buy in early. Partnership: A business partner will share the financial burden with you, but you will have to split profits with them, as well. Crowdfunding: Crowdfunding takes many forms, but one option is to pursue donation-based crowdfunding so you don’t have to relinquish any equity or go into debt. Grants: Small business grants do exist, but there will be plenty of competition. Definitely research and apply, but don’t let it be your only option. Business loan: There are many business loan options, including startup business loans for those that are just getting their business up and running.
Frequently Asked Questions
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