This article answers the question – is wedding planning a profitable wedding business?
The quick answer is yes! Wedding planning is a profitable wedding business, especially if you have set your prices and packages and designed your wedding planning business around what you want and what you need.
If you’re considering the idea of starting a wedding planning business or haven’t set your wedding prices and packages yet, here’s a quick-read article all about wedding prices and how to calculate your wedding planning rates.
Why is Wedding Planning a Profitable Business?
Wedding planning is a profitable business because you as the wedding planner will be doing the work. This means that you do not need any fancy equipment or expensive infrastructure to deliver the service.
As a wedding planner, you need to organize and plan a couple’s wedding on their behalf and you get paid for that service.
How Do Wedding Planners Charge?
There are various pricing models for wedding planners and wedding planning companies, but most wedding planners charge a set wedding planning fee per wedding.
This can range from wedding to wedding based on the number of guests at the wedding, or it can be a percentage of the overall wedding budget.
When I started my wedding planning business, I used a different model, I created packages based on the total number of people at a wedding.
For instance, my smallest package was for weddings with 20ppl or less, then I had another with 50ppl or less, and so on.
I found this wedding planning pricing model to work really well for my company because I understood how the psychology of a bridal couple impacts their buying decision.
My pricing model was simple and straightforward so they never had to worry about any extra or unexpected charges.
The Best Booking Process for Wedding Planners
To simplify the booking process and to help you book more brides, you will want to help bridal couples feel comfortable and relaxed throughout the booking process.
To help them feel at ease and ready to book your wedding planning services, I recommend two things:
- Use an automated booking process. I recommend HoneyBook for this.
- Allow a smaller booking fee upfront and a monthly payment plan
I know the monthly payment plan is not normal in the wedding planning business world, but I got so many wedding bookings because I offered this to bridal couples.
Always remember – bridal couples have a lot of money to pay out and oftentimes, have to wait to save up to afford booking fees and vendor payments.
When you lower your booking fee and allow for monthly payments, you’re helping them that need that help.
Most of them that can afford your services will pay in advance with no worries, but with this model, you’re opening up your business to others that really want to work with you, but who just need a relaxed payment system.
How to Ensure Your Wedding Planning Business is Profitable This Year
To ensure you have a profitable wedding planning company, you will need to have consistent wedding leads from target brides and you will need to know how to convert those leads to bookings.
To attract your target brides to your wedding planning business, I recommend following my 12 Marketing Tips for Wedding Planners.
It’s a simple process taking you through every strategy you need to use if you want a successful and profitable wedding business this year and every year after that.
Conclusion
So if you wondering if wedding planning is a profitable wedding business, my answer is yes, absolutely! It’s one of the best wedding businesses to start from home or when you have no money.
That’s how I got started. I started my wedding business from home with very little money and went on to book a lot of weddings and it was very profitable.
If I can do it – Anybody can do it 🙂
Further Reading:
How to Start a Wedding Business From Home
Can You Start a Wedding Business With No Experience?
Top Tips for Starting a Wedding Planner Business
Should You Take a Wedding Planning Course?
Until the next time
