A Quick Guide to Start your own Wedding Planning Company in 7 Simple Steps
Weddings hold a great cultural significance in India. But Indian weddings have a reputation of being grand, glitzy, and glamorous. From destination weddings to Bollywood-themed private ceremonies, weddings have come a long way from being just a two-day affair.
Several stressful weeks of planning go into the preparation to ensure the outcome is breath-taking. From shopping to selecting a venue, sending invites to finalizing the food menu, decoration to attending guests, a wedding planner has to take care of a lot of other things.
Though pandemic in2020 acted as a speed-bump, with the government extending the social gatherings to up to 100 people, the weddings are back in business.
According to Business Insider, the $50 billion Indian wedding industry is back on its track and offers a lot of scope for growth.
But if the craziness, excitement, confusion, and overall euphoria give you an adrenaline rush, you can start your own wedding planning business.
How can you start a wedding planning business? Here is your step-by-step guide to understanding all the essential skills you will need:
- Give your company a Business Name & Type
Your business name is the first thing that a client notices. While the type of firm or service you will provide will attract future clientele belonging to the same segment. Try to offer a diverse range of choices to the bride & groom, so that they can choose accordingly.
- But First, Get Some Relevant Experience
Delivering the best customer experience is very important for your wedding planning business. Hence, it is advisable to work with a team to gather experience before starting your own company.
- Investment
Deciding on the initial investment is important for any business, and the wedding planning business is no exception. Initially, you will have to invest in a good laptop that could cost you INR 20,000 or above. To save on the rented workspace, you can start working from home or a co-working space.
However, to place initial orders with vendors, you will require around INR 2-5 lakh. Create a reliable network of vendors to keep the smooth supply of essentials.
- A Business Plan
Anything without solid plan bombs in no more than 2 minutes. Thus, having a business plan in place is crucial for a wedding planner. This includes a business name, industry research, target segment, financial management along with long and short-term goals.
- Getting a Team On-board
A skilled team is imperative for a wedding planning business. Before taking any assignments, you will need to figure out a team. From decorators, venues, caterers, musicians, travel arrangements to Mehendi artists, choreographers, and apparel stylists, you must rope-in all of them to ensure a successful wedding.
Cost-effective tip: Hire freelancers rather than a full-time team to save time & money.
- Marketing
Once you have organized few ceremonies, showcase all of them and start marketing your services. Instagram and Facebook could be your best friend. However, a word-of-mouth recommendation could be your best bet. You can also create a website, which could cost you anywhere around INR 1,500 to INR 3,000.
- Earnings
Depending upon your clientele, and the ceremonies you organize, a wedding planner could easily earn up to INR 1 lakh on a wedding with a budget of INR 10 lakh.
So what are you waiting for? With restrictions being eased-out and weather playing its charm, you too can become a wedding planner. You can know more about how to set up your business with our Everything about Entrepreneurship course. To know more click here: https://www.badabusiness.com/?ref_code=ArticlesLeads