According to PayScale, the average annual salary for wedding planners is $35,608 per year. This income includes an hourly rate and fees from commissions and bonuses. According to the “Occupational Outlook Handbook” published by the US Bureau of Labor Statistics, event planning is expected to grow faster that the national average of all other occupations.
A wedding planner must have top-notch organizational skills. They also need to be able to manage people and keep them calm. Attention to detail and crisis management are also essential.
The pros and cons of a home-based wedding planner business
- Being a wedding planner has many great benefits.
- Weddings are still a significant event in a couple’s lives. People will spend a lot of money to get it right.
- To be a wedding planner, you don’t need any education, training, or certification.
- Celebrating romance is a great way to make money.
- It is possible to get started with very little investment.
- The business can be run from your home.
- A good wedding will be remembered by your guests for future weddings.
- Every business has its downsides, and wedding planning is no exception. Here are some cons:
- Unhappy parents, brides and grooms can get in the path of wedding planning and cause awkward moments for the wedding planner.
- It can take some time to get your wedding date booked, and many years to make a substantial profit from a wedding planning business. Keep in mind that most people only want to get married once. This means you won’t have repeat clients.
- Weekends are the most important days to work. The summer and other traditionally vacation times are likely to be your busiest.
- Even when your wedding party is at their worst, you need to be your best and most calm.
- In slow months, idle time can lead to erratic income and cash flow problems for wedding planners.
The background you may need
You don’t have to be a professional wedding planner in order to do so. You should have some experience in event planning or wedding planning. You can gain experience by planning your own wedding, or helping a friend or relative plan their wedding. You might consider working with another planner to gain experience. This will allow you to gain experience and also give you the chance to build your portfolio and reference list.
To increase your marketability and allow you to charge higher prices, consider taking courses in hospitality management or becoming a certified wedding planner. It is important to keep up with the latest wedding trends by reading bridal magazines, and attending weddings with an open mind.
Establish Your Wedding Planning Business
Before you can book your first client, you’ll need to address legal issues like establishing your business and securing your business licenses. A business plan will outline all aspects of your business including how you intend to reach clients, your market and the fees you’ll be charging. A marketing plan should be created, detailing the methods and materials you will use to attract couples. Get the licenses and insurance you need.
To ensure that you have everything in order to pull off a perfect wedding, organize your calendar. A schedule and organization are key, especially if there are multiple weddings being planned simultaneously. You will need your contacts and calendar to be mobile so you can keep your planner handy or store it in your phone.
Pull together a network of suppliers and vendors, including caterers, tux rental, wedding photographers/videographers, reception halls, florists, restaurants and country clubs.