A wedding planner is a professional who plans and organizes the entire day-to-day activities of a couple. A bride wants to know that every detail will be covered, while the groom would want to ensure his needs are met.
If you’re thinking about starting a wedding planner business, then you’ve come to the right place! This article will give you a top 10 step-by-step guide on how to start a wedding planner business.
How much does a wedding planning business make?
A wedding planning business can make a lot of money depending on the number of weddings that are planned and executed.
The average wedding planner in America will typically make around $70,000 to $150,000 annually
However, this number is heavily dependent on the size of the company as well as their experience level. The amount of revenue generated by a wedding planner also depends on what type of services they offer and how many weddings they plan per year.
To get started with this business, you will need to be skilled in some areas such as event planning and accounting. You also need to have a strong understanding of the legalities surrounding weddings so that you can avoid any issues that may arise during your career.
If you don’t have these skills yet, then consider taking classes at an online school or community college for these topics before starting your own business.
How to Start a Wedding Planner Business | Top 10 Steps
It’s time to start your own wedding planning business! However, before you jump into the process of opening a new business, here are some useful tips to keep in mind.
01. Get training and be skilled
As you start your own wedding planning business, you must have the necessary skills to be successful. You should also gain experience by volunteering or working for a local venue and catering company in the area where you want to open your new business.
In addition, many online courses can teach even beginners about event planning and accounting but these programs are less expensive than traditional schools so students may find them more affordable as well.
02. Be skilled in accounting
If you decide to start a wedding planner business then the first thing that you will need to do is invest in learning how to use accounting software. The most popular for this type of program is QuickBooks but others include Xero and FreshBooks.
Once your company has been up and running for a while, it’s time to consider paying professionals at an outside firm or accountant experienced with what your business needs, as opposed to being one who just makes sure everything looks good on paper – they can help provide direction while keeping things simple so there are no mistakes made along the way which may cost you money.
03. Make a solid business plan
A solid business plan is the best way to ensure that you are always prepared and ready for any issues with your new wedding planning business. There are many different types of business plans and they may vary in what information is shared.
For the best outcome, you should make sure that your plan includes all these important details: how much capital will be needed to start; a detailed explanation of each financial goal including profit goals for major events like weddings; strategic marketing ideas, as well as estimates on cost and time to reach those goals.
You can also include projections about how long it will take for you to pay your current debt off if you choose this option. There’s no one-size-fits-all type of business plan so it’s important to make yours as specific as possible.
04. Get a business bank account and business credit card
When you first start a business it will be necessary to have your bank account so that you can make payments and keep track of all the money coming in.
As part of opening up an account, any business owner is required by law to provide information such as their personal details, the nature of their company’s activities, whether or not they are operating for-profit, and if so what percentage(s) should be declared on tax returns, etc.
Having your own business bank account means that you will have the ability to track all of this and be prepared for when it does come in, which may require some planning on your part.
When dealing with banks there are many different types of accounts available depending upon what type of business you’re starting – from current accounts for cash paid-in or deposited, to savings/current deposit accounts where money is set aside for specific purposes.
05. Take care of legal documents
A business owner should have a will and the rest of their legal documents in order before they start up their company. This includes contracts, leases, and deeds.
These documents should be updated as business circumstances change throughout the running of your company so that you don’t have to worry about any legal issues arising in the future.
If you have employees, you will need to make sure that they are given proper legal documents such as an employment contract and health insurance. This is just a good idea because it protects all parties involved in the company from any issues that may arise down the road.
06. Get a business phone system
You will need a phone system for the business so that you can receive incoming calls and have an automated response back to potential clients.
There are many different types of systems available, from small company plans all the way up to large enterprise companies. The decision is entirely dependent on what your needs are in terms of features, capabilities, and price point. One thing to consider is how many people will be using the system.
If you are looking at a business phone system designed for your office, then it may not meet all of your needs if you want users across multiple locations or even international clients as well.
Some companies provide solutions that can accommodate small teams and larger groups so do some research on what kind of systems work best in various scenarios before deciding on which solution would suit you best during business hours and after-hours.
07. Build a website and social media account
A website is a great way to connect with potential customers and clients. This allows you to provide information about your business, promote special sales or discounts, post announcements regarding new services that are available for the public or partners in your network of other businesses.
A social media account can be used as an additional marketing tool by posting blogs and articles related to wedding planning on Facebook, Twitter, and LinkedIn.
You can also use these accounts as means of contacting people throughout the industry who may have questions about various wedding planning practices through private messaging features called “direct messages” which allow users direct access to the specific person you are messaging.
08. Establish your brand for wedding planning
To grow your business you need to have a unique and recognizable brand. This helps in many ways, first, it gives you an identity as a wedding planning company which will help with retaining existing customers or attracting new ones. It also helps with building trust in the wedding industry and from your customers as well.
Creating a brand involves developing an image for your business, creating marketing materials to market that identity, establishing yourself as a personality through interviews or speaking engagements about what you do.
The more you do this the better your brand becomes and people will be able to recognize it from a mile away.
09. Promote your wedding planning business
To grow your business you will have to promote and advertise. You can do this in a number of ways, such as through email marketing, social media advertising, or the use of direct mail.
You can also do it in person at trade shows and events across the country where you will meet with potential clients. To grow your business, you need to be networking and meeting people who are interested in what your company has to offer them so that they may refer others their way.
The first step is getting connected by attending bridal expositions and meetings with other wedding planning professionals like yourself for referrals from customers, suppliers, vendors, and anyone else within the industry who might have something useful for you!
Also, invest in a business card so that people can contact you no matter where they are.
10. How and when to build a team
Building a team is something that you need to do as soon as possible, ideally before your business grows too large and requires more employees. It can be difficult at first because you need the right people for different roles in the company.
You will have to decide which areas of the business you want help in, such as event planning, wedding photography, or videography and design. Then you can hire people into those positions based on their skill sets and experience.
People need to put themselves out there because most employers are looking for that hard work ethic when hiring new employees so do everything within your power not only to be a great employee but also to make sure prospective clients know about how good this person is!
You may have heard the phrase “Plan your work and work your plan.” But planning is just the first step to starting a successful business. The second step is to put in place all of the necessary tools, resources, and systems that will allow you to focus on what you do best: running your business.
Once you’ve established these basics, it’s time to get started! To help you with this process, we’ve outlined some of the most important steps for starting a wedding planner business.
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