Is the wedding industry over saturated? If you have a wedding business and you are finding it hard to book quality weddings we are here to guide you. We want your wedding business to be successful and for you to have the ability to book more brides every year. Learn how to run a profitable wedding business year after year.
Before we get started, we wanted to invite you to join our Wedding Pro group. And if you are serious about your Wedding business, then you should be on Pinterest. Join our Pinterest group and let the pinning party begin. We also want to mention that we use affiliate links to our posts including Amazon links, and if you purchase anything, we might make a commission.
If you want to fast track your success and position your wedding on social media for booking more weddings, then grab our guide: “An Easy Guide to Booking more Weddings with Social Media”! It’s simple and easy to use! It is packed with actionable tips you can use to start booking brides fast. It requires you to make a few changes to your marketing efforts, perfect for running a profitable wedding business.
What does it take to run a profitable Wedding Business?
Do you know exactly what it takes to run a profitable wedding business? A lot of wedding professionals do not take the time to sit and reflect on the business side of running a profitable business. And this involves proper pricing structures, looking at your overall monthly expenses and all the costs of running a great successful wedding business.
No matter how much you love the business, you need to remember that this is not a hobby but you are here to make money. We will be looking at what is involved to run a profitable wedding business.
Make money by operating a Profitable Wedding Business
Here are a few things you need to keep in mind when considering running a profitable wedding business:
Finding a target market – Come up with a target market for your profitable wedding business. A market that you love and are passionate about. Examples include Destination weddings, same-sex weddings, Indian weddings and so on. Become an expert in that one area and focus your time on promoting that as much as you can. If you want to cater to rustic weddings, ensure your brand, website, wording, and portfolio reflects this.
If you google Rustic Weddings, this wedding professional is among the first few sites that show up. They are extremely well positioned to plan rustic weddings as well as attract the right type of brides.
Limit your wedding services – Don’t try to do it all. If you are a wedding photographer don’t offer video services unless you have someone on the team that is good at that. Don’t spread yourself too thin, trying to offer every service under the sun. Instead, focus on growing your photography business by bringing in more photography associates. This will ensure you book multiple weddings per weekend.
Finding ways to run a profitable Wedding Business requires scaling it and booking more hand on deck.
Ensure your ideas are protected as you investigate new projects + partnerships. You do not want interns & subcontractors stealing your ideas.
Marketing your efforts – Focus on marketing to one type of bride. Earlier we mentioned finding a target market for your wedding business. Your brand message should speak to that bride and that bride only. Don’t confuse your web visitors. If you deal with Indian weddings ensure your marketing reflects that.
This does not mean that you do not cater to everyone else, it just means you are focused and more likely to run a profitable wedding business if you are known for a certain niche.
If someone is asking for an Indian wedding DJ or a Wedding planner that caters to Indian weddings, your name should always pop up.
Do not give up on your niche market – Want to run a profitable wedding business? Stick to your niche market. Have a clear vision of who you are trying to target as a bride and stick to that. Work on developing and growing that brand. Over time your clients will come flooding in as they get to know you.
Submit your weddings to big blogs like these vendors, work on your branding and your business will grow.
Be better than the competition – Do you want to be like ABC Events or do you want to surpass them? Don’t limit your potential strengths by following what the competition is doing. Analyze what you are good at and build on that. If you are a people person, show your potential brides and form bonds. If you are really organized, show your brides how organized you are.
Want a way to get more clients? Our “Book 50K worth of Wedding Business” will take you through the steps needed to start off a strong business and become successful. The course focusses on setting a strong foundation that you can develop and grow further as your business evolves. You can check what is included here.
Do you have a great business plan? Most wedding professionals do not have a strategic business plan. Don’t waste time and money on a million different ideas. Create a simple business plan that will outline your business short and long-term goals. Create a business plan that will set you up apart from your main competition. In other words, get ahead of the competition.
Price your wedding services to ensure you do not lose money. Not sure how to price your services to make a profit? Take our course “Book 50K of wedding business per year!” We outline what the different areas of the wedding industry should be charging to make a profit. You need to understand your prices in order to make it in the business.
If you are not a seller and having a hard time marketing and selling your business, you might want to grab this book from Amazon entitled – Shut Up and Sell More Weddings & Events: Ask Better Questions, Listen to the Answers and Grow Your Business. It’s epic and packed with amazing information to booking out and selling out.
Are you constantly worrying about how well your wedding competition is doing? Don’t do this. Instead, find a way to stand apart from the competition and book more weddings. You want the bride to be able to book you over the next person due to your outstanding services.
Keep your goals and vision in mind when marketing yourself. Revisit your goals on yearly basis and see what you can tweak and change to make yourself better as a business owner.
Those are our tips on how to run a profitable wedding business. Did we miss anything? If you have more cool ideas on running a profitable wedding business, tell us in the comments below.
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