Having set up her Leeds-based events business We Love This from home in , Rebecca Marriott is constantly looking for new ways to make her business stand out in a highly competitive industry. It is crucial to keep up to date with new ways of marketing yourself, and offering clients interesting new ways of working with you.
It puts me in direct contact with people searching for wedding styling ideas or party planning, and then once I'm in touch with the prospective new client, it couldn't be easier to see the kind of thing they want.
Sign up to become a member of the Guardian Small Business Network here for more advice, insight and best practice direct to your inbox. From lace to latex, meet the home-based entrepreneurs stitching their own niche in a crowded market.
Topics Home business How to Order by newest oldest recommendations. Show 25 25 50 All. Threads collapsed expanded unthreaded.
According to the Association of Bridal Consulting, 2. The wedding planning industry has an annual growth rate of 1. The expansion witnessed in the industry is as a result of stronger economic conditions. With increased disposable income, it is expected that couples will be encouraged to get married and spend more money on services that are related to wedding activities.
Wedding planners are also now more accessible to clients that need their services as a result of increased use of the internet, this has led to a decrease in the costs incurred by the industry for marketing activities and has increased their profit margins. The industry growth is expected to accelerate in the next five years if the economy keeps on getting stronger.
The wedding planning industry is still growing and as a whole, it is an industry that represents a lot of money, but the industry is made up of other multiple smaller enterprises. These smaller enterprises that make up the wedding planning industry include wedding consultants, caterers, photographers and a host of others.
The industry cannot be said to be saturated because if you find a niche that you can occupy, you will continue to attract lots of clients for your business. The factors and incentives that encourage people to go into this line of business is the ability to get good returns on little investment in the business as long as you are passionate about the job. It is a cost effective business that can be started with little initial investment. The demographic and psychographic composition of the people who require the services of a wedding planner cuts across men and women who are planning for their wedding ceremony.
The following represents the list of people that needs the services of a wedding planner. In setting up a wedding planning business, there are a couple of niches ideas in the industry that you can choose from as an entrepreneur. Tapping into the niche market helps you distinguish yourself in what is now a crowded industry. Once you have decided on the niche you want to work in, then you can go ahead to own it. Survival in the wedding planning industry is dependent on a number of factors which include your organizational skills, ability to manage different people effectively and deal with different emotions.
Survival in the industry is also based on your contacts as these are the people who will give you jobs and keep you in business. There are a lot of big investors in this industry such as Martha Stewart Weddings and Sarah Haywood, but that does not mean that there is no room for new wedding planning companies that are just emerging. To survive as a start-up company in this industry, you should concentrate on getting your friends and family to know your business so that they can patronise your business and spread the word around about what your company does.
There are some well-known brands in the wedding planning industry and you can hardly talk about wedding planners without mentioning the likes of US based Sasha Souza of Sasha Souza events and UK based Sarah Haywood. To start a wedding planning business, you need to carry out critical economic analysis to make sure that the risks and threats that which are associated with starting a business or putting your investment in a business idea are reduced.
Opening a business is not just about getting a nice looking office space and furnishing the place. A major concern you should have as a business owner is how to get customers for your business and how to ensure that the existing customers keep coming back to use the services your company offers.
On the average, starting and running a wedding planning business is cost effective. This is because you do not have to spend a lot of money in starting up the business. If you are able to deliver quality services to your client, the quality of your service you render will attract more customers for your business, as the invited guests for the wedding you planned for will always remember the good job you did and they will use your services if they have a wedding to plan as well.
In starting your wedding planning business, you need to consider the best approach for your business, whether to start the business from scratch or to become part of a network that has already been established? If you have the intention of starting your wedding planning business from scratch, you will have absolute control over all areas of your business and in the process you will end up building a brand that can be transferred to your children or a brand which you can sell as a franchise in the future.
Starting a business from scratch can be a refreshing experience but it can also be exhausting. If on the other hand, you are more interested in making money and becoming a part of a network that is already established, you should consider buying the franchise of a successful wedding planning company.
This way, you get to become part of an already established community which can be helpful in some ways but limiting in some aspects. In the wedding planning industry, new and established companies are subject to threats and challenges from various angles and one of the greatest challenge is the influx of new wedding planners with no trainings and certifications in the industry who are in the habit of charging ridiculously low amount of money and providing poor services to people thus giving the industry a bad name.
There is also the challenge of a lack of industry standards with which to hold vendors accountable for the quality of their services, products and ethics. This is because there is no regulation in the industry and these set of wedding planners give the good wedding planners a bad reputation with their activities.
Newly established wedding planning companies are also faced with the problem of competing with other well established businesses in a location where their business has got a strong presence. The legal entity you choose for your wedding planning business will go a long way in determining how big your company can grow.
Before making a choice, there are a lot of things you need to put into consideration. Speak to an accountant and an attorney before making a decision; this is because different laws exist for business structures in different states. The decisions you make will affect your personal liability, the amount of money you pay as tax and how much money you can borrow and so on. Different legal entities exist for a wedding planning business that you can choose from.
They include sole proprietorship, limited liability company LLC , partnership, C corporations and S corporations. Each of them has got its own advantages and disadvantages so it is imperative to choose the right one that is applicable to your situation.
If you are just setting up your wedding planning company, sole proprietorship and LLC are the best legal entity you should consider using as the legal entity for your business. Sole proprietorship is not difficult to set up and it gives you total control over your business. Choosing an LLC gives you the benefits of a corporation without the hassles involved and a sole proprietorship.
This legal entity protects the business owner from having their personal assets confiscated when the company runs into debts. You can start your wedding planning business as a LLC and later upgrade it to a corporation or S corporation whenever you have plans of going public. Greater Manchester , England. A rare opportunity to buy a well established bridal boutique situated in a prime location selling dresses from sought after exclusive designers.
A change in circumstances prompts the sale of this successful bridal business of 6 years with Milton Keynes , Buckinghamshire , England. Search for a specific business. You can search for a specific business by seller reference number. Wedding Businesses For Sale Browse the listings below and refine your search to help you buy Wedding Services for sale in all locations. Start a new search. Per page 20 40 X Send me a link to reset my password Email Address.
X Thank you an email has been sent Click on the link in the email to reset your password If you did not receive the link in a couple of minutes, please check your junk folder No email? Check your spelling and try again. East Sussex , England Search categories: Somerset , England Search categories: Bridgend , Mid Glamorgan , Wales Search categories: Asking price Price on Application.
Wedding, School, Portrait and Event Photography Business The Vendors created a successful wedding, school and event photography business eleven years ago in Kent , England Search categories: Macclesfield , Cheshire , England Search categories: Fife , Scotland Search categories: Tyne and Wear , England Search categories: West Midlands , England Search categories: Cheltenham , Gloucestershire , England Search categories: West Yorkshire , England Search categories: Highly Profitable Photography and Video Services Business Central Business Sales is delighted to offer to the market an award-winning, highly successful and very profitable photo and video experience business.
Retail Shops - Bridal Shops I am reluctantly selling my stylish bridal boutique. Derby , Derbyshire , England Search categories:
On-site wedding coordination is a viable career path that might serve your interests well, but if and when you decide to launch your own wedding planning business, consider following these five steps.
Wedding Planning Business Facts. Here are some facts and figures about the wedding planning business you should consider: Wedding planning business startup costs. Entrepreneur estimates that a wedding planning startup can run between $2, to $9, This would include office supplies, equipment, and furniture; financial, word processing and wedding planner software and a computer.
A wedding planning business may help couples with any and every aspect of planning for the wedding. This may include helping pick clothing for all parties, creating thematic decorations and décor, picking a wedding cake, handling photography and video, and more. Starting a Wedding Planning Business from Home – A Complete Guide The Wedding Planning Industry Overview According to the Association of Bridal Consulting, million weddings are held every year in the United States and weddings make up $51 billion in the United States.
Event planning can be a seasonal business; demand for Christmas parties creates a festive peak season, while enquiries about wedding planning services frequently follow prime engagement periods of Christmas, New Year's Eve and Valentine's Day. The Bureau of Labor Statistics expects event planning to increase at a much faster than average rate between now and A wedding planning business may be .