Jumping into any business when we are fired up and ready to go is common, and learning on the go is a great way to make sure lessons stay learnt! However, there are a few things you may want to attend to before you get started in your new wedding consultant career.
Find Great Suppliers
A great supplier, whether it is a venue, stationary or caterers, is a combination of price, service, and creativity, much like your own wedding consultant business. Suppliers who are willing to go the extra mile, deliver on short notice and become an asset to your business are few and far between. Finding them and building relationships can make all the difference.
Get Everything in Writing
Having a contract drawn up by an attorney may sound like a tedious and unnecessary step, until, that is, you need it. Your business is like any other, and you need to be clear with your clients upfront. That way, you are both protected.
Find a Niche
Yes, believe it or not, even as a wedding planner, you can specialize! You can choose to become a wedding consultant who specializes in a particular culture, or type of wedding, or you can make your specialty organizing weddings that are a little out of the ordinary. Whatever you choose, remember, just because you specialize, that does not mean turning away other jobs!
Check Out the Competition
As with any business, knowing your competition gives you a competitive edge as a wedding planner. Find out which other related professionals or companies operate in your area. Enquire anonymously about their pricing and services. This will help you to determine your own pricing, and figure out how to set your business apart in terms of service.
If there are a lot of wedding planners in your area, you may choose to launch in a different area, or combine a unique selling point in your marketing strategy.
Before you get started as a wedding planner, you may want to investigate what your earnings will be. There are usually two ways of pricing – a flat fee, which is a percentage of the project cost, and an hourly consulting fees.
Usually, the former runs to 10 or 15 percent of the cost of the wedding, and the latter is in the region of $50 to $150 per hour, either way, your earnings per project are likely to be around $1500.
Expand Your Earning Potential
One of the key factors to bear in mind when doing work related to weddings is that depending on where you live work is largely seasonal, with the busy seasons depending often on weather factors. That being said in off time you don’t want to sit still, look into other means of expanding your business’s profits.
Focus in on your marketing and promotion, get involved in printing and offering custom wedding stationary, or start a rental division. You may even try something a little different like candles or flowers. For most new wedding planners to break even takes around 3 years, so you will probably need a second income!
There are probably multitudes of other little things you need to consider, and they will depend on your situation and your unique business plan. Becoming a wedding consultant takes planning, so make sure you do yours early, and ensure your success!