Wedding Business Plan

Create a wedding business plan by first determining the type of wedding business you'd like to own. Assess your skills honestly then plan accordingly. If you are passionate about fashion design, perhaps your business could involve designing or creating wedding gowns or assisting brides in finding their dream gowns. Other wedding-related businesses include working as a wedding photographer, caterer, or consultant. When creating your business plan, focus on one or multiple aspects of the wedding process.

  1. Basics

    • Outline how you plan to start, fund, and market and develop your wedding business. Describe your business goals -- such as whether you want to generate more than $10,000 in profits each month or book two weddings per month. Estimate your operating costs. These will differ if you work from home, for instance, rather than leasing office space. Benefits of working from home include low overhead costs and tax incentives, but family distractions might eliminate significant benefits. If you are planning an Internet-based wedding business, evaluate the cost of establishing and maintaining a web site.

    Niche

    • Thousands of wedding-related businesses already exist. Your business plan should explain your competitive advantages in the wedding industry -- such as cost savings for brides or experience. It also should explain how you will fulfill market needs -- such as by developing creative wedding favors or beautiful-yet-inexpensive floral arrangements. Include how you will attract your target audience -- perhaps by age bracket or income level. Think about your potential customers -- for example, your business might target career women by offering entire wedding planning with few schedule interferences for the bride-to-be. Find reputable suppliers, such as wedding cake bakeries, disc jockeys, photographers and videographers to fill needs you cannot meet personally.

    Tips

    • It does not matter whether your business plan is two pages or twelve, but it must provide a well-written analysis of your wedding business. Find out how wedding needs in your area are currently being met and analyze your competition. Include sales forecasts and your rates. Determine whether you will charge for initial consultation and whether your fees will be fixed or based on a percentage of the wedding expenses. Consider the cost of hiring part-time consultants to assist you when needed, such as facilitating wedding day events.

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