Wedding Planner Business: How to Do It Yourself

01/11/2018 18:00 | Start a business

wedding planner

Weddings are generally considered to be one of the most special days in any couple's lives. Consequently, the event itself needs to be meticulously planned and studiously executed. For this reason, wedding planners are often brought in to oversee the preparations. Here, we take a look at how you could launch your own wedding planner business by joining a franchise.

Wedding planner UK

In the UK, weddings are big business. According to wedding specialists, approximately £10 billion is spent on British weddings every year, and a diverse array of companies have emerged to capitalise on the growing demand for planning services.

The average wedding costs around £36,127, of which £12,000 is spent on preparations for the big day, a further £21,000 on guest expenses, and £2,700 on a honeymoon. The sheer scale of modern weddings means that the bride and groom devote considerable financial resources to a wide range of products and services, generating income for many different types of business.

Wedding planner jobs

When organising weddings, a surprising number of details need to be considered to ensure that everything passes off without a hitch. For instance, a typical wedding will require custom stationery, flower displays, an intricate wedding cake, a professional photographer, and hair and makeup services, amongst other things.

Typically, all of these services are provided by different companies, making organisation incredibly complex. This is one of the critical reasons wedding planners are an increasingly popular means of guaranteeing the smooth running of the event. They take the pressure off the bride and groom (while still allowing them creative control) and give them the opportunity to relax and enjoy their big day.

Becoming a wedding planner

If youre hoping to take advantage of the surge in demand for wedding planning services, franchising offers an excellent entry point for the budding entrepreneur. Usually, franchises provide comprehensive support and training, giving your business a better chance of success. To become a franchisee, you'll need to follow these five steps.

1. Find the right franchise opportunity

Finding the right franchise opportunity is all about doing your research. You need to look at what opportunities are available and explore those that appeal to you in greater depth. At this stage, its a good idea to establish search criteria, as theres no point wasting time researching a franchise that youll never be able to afford.

2. Perform your due diligence

Once youve established which franchises offer the best investment opportunity, its time to perform your due diligence. This involves looking at market conditions and the competition, as well as your franchise's financial performance, to establish whether it's a financially viable opportunity.

3. Talk to the franchisor and existing franchisees

Franchising requires you to work closely with a franchisor and to develop a strong partnership based on open and honest communication. Before you make any commitment, it's vital that you meet with the franchisor and get a feel for how your future working relationship may manifest itself. Of course, it's in the franchisor's interest to "sell" the opportunity to prospective franchisees, so it's a good idea to get a second opinion. One of the best ways to do this is by talking to existing franchisees and asking them to corroborate what the franchisor has told you.

4. Draft your business plan

If youre happy with how things are progressing, its time to draft your business plan. This will be submitted as part of your finance application. Most wedding franchisors will help you write the plan, as they have plenty of experience doing so and understand precisely what major lenders want to see. They also have access to statistics and financial projections that can be used as evidence to support your calculations.

5. If its not right, go out and do it yourself

If you can't find the right wedding franchise, you can always start your own business with the aim of franchising it at a later date. While this is a lot more difficult and will take much longer to realise, it may be the best option for those who already boast the skills required to build a franchised business from scratch.

Necessary franchisee qualities

The wedding industry is remarkably competitive, and those who are going to thrive within the sector need to develop an impressive array of skills and personal attributes. A successful wedding planner needs to have the following qualities.

1. A people person

As with any events management business, wedding planners need to be able communicators and people pleasers. This is a social role that depends on the ability to realise a customers vision by drawing it out in a series of detailed discussions.

2. Excellent organisation

You cannot be a wedding planner without excellent organisational skills. There's so much to consider and prepare that supreme organisational skills are required to keep everything on track. If you struggle to organise your own time or cant prioritise to ensure efficiency, theres a good chance youre not well-suited to wedding planning.

3. A head for marketing

As we've already mentioned, the wedding industry is cut-throat and competitive. It takes a lot to stand out amongst the large number of other planners advertising their services and any business that's going to make it will need to understand the power of carefully considered branding and high-quality marketing campaigns.

4. An eye for detail

Weddings are all about the little touches. With so much to think about and organise, its easy for wedding planners to get caught up in the big picture and forget that attention to detail is paramount. If youre a talented wedding planner, youll understand that this type of event is defined by the details and youll work hard to ensure that absolutely everything is just as it should be.

5. Dedication

Finally, a wedding planner needs to demonstrate dedication and devotion to their franchise. Without a serious amount of hard work, there's no chance of building a successful business. This means that franchisees should be aware that its going to take long hours to get their business off the ground.

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