Wedding Consultant: How Do You Do It Yourself?
If itís always been your dream to be a wedding consultant, a consultancy franchise may be your best opportunity to do so. However, starting a franchise requires a great deal of dedication and commitment. If you think youíve got what it takes, take a look at our handy guide on how to open your own franchise unit in the wedding sector.
Wedding consultant jobs
In the wedding industry, there are a large variety of roles and positions to pick between. Individuals can become wedding consultants, where theyíre responsible for the organisation of the entire day, or choose to specialise in a particular field of expertise. For instance, you could decide to build a business that provides photography services to those getting married. Alternatively, you may prefer to specialise in venue preparation and decoration.
This is an important choice to make, as youíll need to match your chosen position to your skillset. A wedding consultant needs to be sociable, organised, and equipped with excellent communication skills. On the other hand, a photographer must have an understanding of the key technologies involved in the photography process, be able to build a portfolio of work quickly and efficiently and market themselves well to new clients.
Itís also important to enjoy your chosen role and to maintain a passion for the industry as a whole. Starting your own wedding consultancy requires a great deal of commitment, and youíll need to invest considerable resources if youíre to make it a success. If you lack passion for the work, it becomes that much more difficult to make this investment. However, if youíve thought long and hard about the process of starting your own wedding consultancy and come to the conclusion that itís the perfect opportunity, youíll need to follow these simple steps to success.
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Research your franchise options
First things first, itís important to explore your options and discover what franchises are out there on the market. This can be achieved by employing the services of a franchise broker, browsing specialist franchising websites, reading trade publications, and talking with those already in the industry.
Networking plays a vital role in identifying suitable opportunities, so you may also find it useful to attend a franchise exhibition or expo. Here, youíll be able to meet a wide range of franchisors and discuss each business in greater depth. Similarly, itís a good idea to attend wedding fairs, as youíll get a better idea of what businesses are doing well in the industry and where to focus the search.
At this point, you shouldnít narrow your search too much. Take a broad approach and explore every opportunity but be selective. If a franchise isnít right for you, donít waste time by continuing to pursue your enquiries. Step away and look elsewhere.
Look into locations
As well as looking into what franchises are available on a national scale, itís necessary to consider where you would like to base your business and whether youíll have access to a suitable market. It should be possible to look into the statistics for weddings in the area. Information such as how many weddings there are in the region in a month and how much individuals spend on the average wedding can be useful when it comes to establishing whether thereís a large enough market to sustain your franchise.
Some franchises will require you to lease business premises, while others wonít. This could have a significant impact on where you choose to base your franchise unit and could limit your choices. For instance, if youíre looking to start a wedding consultancy in London, leasing office space may be prohibitively expensive. In such a case, you would need to look for a franchise that allows its franchisees to operate their business from home.
Talk to franchisors
As you begin to narrow down your choices to a select few franchises, itís necessary to start contacting franchisors and requesting further information. This should be an opportunity to ask questions, get to know the franchisor, and begin sounding out a future working relationship. The franchisor/franchisee relationship is central to the franchising system, and you need to be sure that youíll be able to work closely with any franchisor you go into business with.
Once youíve spoken to a few franchisors, itís time to corroborate what theyíve told you by contacting their franchisees. Any franchisor with nothing to hide will be more than willing to provide you with the contact information for their franchisees. This gives you the chance to question them about whether the franchisor was able to deliver on all their franchise package promises, whether their financial projections for earnings and expenditure were accurate, and how much support they receive from the franchisor and their team.
Perform due diligence
Having done your research and established that the franchisor can be trusted to deliver on their promises, youíll need to request detailed financial information that will allow you to carry out the necessary due diligence. Most franchisors will require you to sign a non-disclosure agreement to see this information.
Equipped with this knowledge, you should be able to establish whether the business is a financially viable enterprise. A potential franchisee must be aware of what is happening in the wedding industry as a whole, what competition to your business there is, what your businessí potential turnover is likely to be, and how much setting up the franchise unit will cost.
Sign the franchise agreement
The final step in setting up your own franchise operation is signing the franchise agreement. However, before you do so, itís a good idea to have legal and financial advisors look over all of your financial projections and legal documents. This will ensure that you do not agree to a relationship thatís dangerously one-sided or that isnít mutually beneficial. When it comes to talking to a legal professional, itís important to make sure that they have experience of working with franchises. Many of the documents youíll encounter contain terms that are used exclusively in franchising, and itís vital that your advisor has a full understanding of all they encompass.
The Editorial Team, Point Franchise ©
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