With so many weddings happening almost every day and people spending so much money for the once-in-a-lifetime event, opening a wedding planner business is actually a good idea!
Of course, you do have to have enough funds to cover everything and the talent to set things up to make sure that even your first clients will have the best weddings! But once you establish yourself in this business, wedding planning can be a good business.
Putting Up the Investment
You need a lot of money to invest in wedding planner business. While you can start the business at home, you need to invest enough money on a lot of things. It would be a good idea to check whether you will only offer wedding planning (at first, anyway) or entire wedding packages for your clients.
For purely wedding planning, all you need is a cellphone and laptop. But you have to work hard on building your list of reliable and excellent suppliers. You can also strike a deal with these suppliers so they can recommend you, if their clients are looking for a wedding planner.
If you plan on offering entire wedding packages, you have to invest in decorations, possibly chairs and tables (unless this is offered by the catering package), and other supplies. This could cost you at least Php100,000.
Clients often prefer registered businesses, with notarized contracts. Thus, make sure to process this before advertising your services.
While you can rely on word of mouth, that won’t give you a lot of clients. Marketing your business is, therefore, very important. A lot of new wedding planners offer discounted rates or other promos to introduce themselves in this market.
Make sure that you have a Facebook page; the website can follow later. These days, you can easily make use of Facebook’s Marketplace to advertise your services. You can also post your services on local Facebook groups dedicated for goods and services.
Your earnings would depend on a lot of factors. But if you’re offering a full package to guests, you can expect earnings of around 15-20% of the entire package. For freelance wedding planners, you can offer your services for a fixed price.