Wedding agency business plan.
The organization of any wedding event, even the smallest one, requires the involvement of many specialists. How to choose the best, and most importantly, reliable? How to do everything when the time until the X-hour is less and less every day?
These and many other questions are acutely faced by future newlyweds..
A wedding agency allows you to solve almost all organizational problems. This is the reason for the relevance of such a business..
With the right approach, agency services will be in demand, regardless of the locality. After all, even in times of crisis, people want to make their wedding day the most important and beautiful day in their lives..
Business scale, upfront costs and profits may vary.
A wedding agency can be set up by one person with little or no cost. Without registration, office, company website. To search for clients and contractors, use only a mobile phone, social networks and personal connections.
And for meetings with clients, you can prefer a cafe.
However, in this case, it is much more difficult to gain customer loyalty. Since not every client will calmly give his money for intermediary services to a person who represents a company that is not registered in any way and does not have a legal address or office..
The option of a wedding agency with a personal luxury office in the city center, expensive furniture and appliances, a large staff of employees is possible. But the initial costs will pay off much longer than starting a business more economically. Consequently, the payback of the project will have to wait..
In this business plan of a wedding agency, a certain middle option is considered. With the registration of an individual entrepreneur, renting an inexpensive office, equipping it with furniture and appliances, creating and promoting a website, an advertising campaign conducted in order to enter the market, the necessary optimal staff.
Initial investment amount – 324,600 rubles;
The break-even point is 3 months;
Payback period – 7 months;
Average monthly profit – 81 808 rubles.
2. Description of the business, product or service.
The most successful option for competent adjustment from competitors would be to offer a full cycle of wedding services. From a beautifully made marriage proposal to a romantic honeymoon trip after the celebration.
This agency should be ready to satisfy any client’s request:
Organize an original marriage proposal event. For example, a romantic date on the rooftop, in the woods, in a restaurant. Or, on the contrary, organizing a public offer during a concert, while shopping in a shopping center, while walking along one of the central streets of the city. Flash mob, musicians, ring.
And she says: “Yes!” Help clients decide on the date of the celebration. For many people, it is important that the wedding date does not fall on a religious holiday or fast, and someone wants to save money and selects a day in the “off-season”. Someone dreams of a fabulous winter or yellow autumn wedding.
Organize on-site registration. Find a suitable place for it. Standard registration at the registry office today is often replaced by an exit one. The owner of the wedding agency must also be ready to conduct an onsite registration in another city or even country.
Help choose a restaurant and menu for a wedding banquet. Particular attention is paid to the choice of the size and design of the wedding cake, its preparation and delivery to the banquet. Offer and help the customer to determine the style, color (combination of colors) of the entire event. It will be a pirate, biker or Japanese or Hawaiian wedding. Or maybe just a wedding in a single color or in a combination of colors.
To professionally arrange a banquet hall, place of registration, cars in the same style chosen by the customer. Select and create an image of the newlyweds and guests. In accordance with the choice of the style or color of the wedding, the agency’s employees help to determine the image of the newlyweds: the outfit of the bride and groom (purchase ready-made, to order), if necessary, the guests are provided with outfits. In addition, masters are selected who will do the hair, makeup, manicure and other cosmetic procedures for the bride, haircut for the groom. Arrange all transport necessary for the event.
Lease of the main car for the bride and groom, other cars for the wedding cortege, providing motorcycle escorts, a bus for the evening delivery of guests. Arrange for the bride price. Develop a script, prepare props. Arrange the funniest wedding banquet. Scenario development.
Selection of the presenter, sound engineer, artists. Discussion of preferences for dance and music breaks. Provide the customer with a professional choreographer for staging the first dance of the young. Find a photographer and videographer. Discussion of wishes for a wedding photo session.
Selection of props. Making a movie about the newlyweds, a wedding photo album or a slideshow. Provide the necessary florist services.
Original bridal bouquet, boutonniere, decoration with fresh flowers for the registration hall, banquet room, cars. Have a bachelor party and a bachelorette party. Organize fireworks as the final stage of the evening. Prepare exclusive wedding invitations.
Organize weddings and other religious (national) wedding ceremonies at the request of clients. Organize a honeymoon trip.
The number and scope of the above services will vary depending on the budget of the event and the wishes of the customer. But the main point is that the agency completely takes over the organization of the event, freeing the bride and groom from unnecessary hassle and fuss..
3. Description of the sales market.
Many serious companies and individuals offer to organize a wedding celebration in any city of our country and even abroad. But for the most part, they are simultaneously organizing a wide variety of events. Such companies are the main competitors of the proposed business.
Therefore, it is necessary to position this agency as a company exclusively engaged in organizing weddings..
Moreover, it is important to provide the entire rich range of wedding services. This will be a clear difference from competitors, who are most often amateurs, who take on several cases at once, without becoming a professional in any particular field..
But there are also large event companies among them, in which a certain department is engaged in the organization of each type of event, including weddings. The experience of such companies can be useful for the development of this business..
The audience of the project is men and women of marriageable age. Their financial situation does not matter, because a business plan implies services for any event budget. It can be a modest wedding in a cafe for 20 people, without live music, fireworks and other delights.
Or maybe a wedding in a chic restaurant, with a media person as a host and a wedding cortege consisting entirely of limousines.
On average, from 100 thousand to 1 million rubles are spent on a wedding today. According to official statistics, 983,000 marriages were concluded in Russia over the past year. Even last year’s crisis did not greatly affect the number of marriages.
Compared to 2014 this figure has decreased by only 1%.
This data tells us that wedding planning is in demand. Therefore, even if there are serious competitors on the market, with the correct organization of the business, the receipt of revenue, and, consequently, profit is inevitable. As for the obvious seasonality of this business, you can find your client at any time.
Attractive promotions and discounts during off-season will easily solve this problem.
Wedding agency SWOT analysis.
Great demand for quality wedding services. Providing wedding services of any kind. Pricing policy that allows you to reach target audiences with different income levels.
When entering the market, there is no established customer base. The company has not yet established itself, so it may be difficult to attract customers.
The agency can become the leading provider of such services in its region. Opening a branch of a wedding agency in another city.
The presence of competitors in the market Financial crisis in the country.
4. Sales and Marketing.
The main competitive advantage of this wedding agency is its narrow focus. That is, the company deals exclusively with weddings, but at a professional level, taking into account all the subtleties of this event.
The business is customer-oriented, so a different approach must be found for each customer. Someone is looking for exclusivity and is ready to pay any money for it. Some clients, on the contrary, are very short of funds, so they are looking for the most economical option.
But most of the customers of a wedding agency are people with an average income who need peace of mind, reliability and quality of services provided..
Strategic Go-to-Market Plan.
Creation of corporate identity. It includes: the name of the agency, corporate color, logo, main slogan of the company.
Informing the public about entering the market. The main step at this stage will be the creation and competent promotion of the company’s website, pages and groups in social networks. Placement of advertisements in special wedding publications of the city (for example, in those that are given to a couple who submitted an application to the registry office). Distribution of business cards among partner companies (bridal salons, flower shops, car rental companies).
A sign above the agency’s office, a billboard on the street near the office, informing about the services.
When entering the market, special attention is paid to the first organized events, since the most effective marketing tool in this area is word of mouth.
Alternatively, during the launch, you can organize a contest on a social network (a photo contest, for the number of reposts, a contest for the best love story), where the main prize will be a certificate for a free wedding organization. And this wedding must be organized so that they talk about it and only with delight! It is important for the coverage to attract the local TV channel, city newspaper, social networks, to place information in the news on the website.
In the course of work, a portfolio is formed for each type of service. It is important that the customer can visually represent what he is offered. It is ideal if the portfolio includes a wide selection of hosts, decorators, florists and other professionals who provide wedding services in the agency.
To provide services to clients with different levels of income, the price list should have service sections, both “economy” and “VIP” -class. Ideally, if each type of client will be handled by a specific person or department.
To correctly determine which “financial” group the client belongs to, leading questions are asked: “How do you imagine yourself your wedding?”, “What
would you like to see on this day by all means, and what do you categorically deny?”, And finally: “How many are you? ready to spend on your wedding? “.
Depending on the answers received, the wedding organizer offers a portfolio and a price list of those contractors who “fit” into the named budget.
Starting with the first wedding organized by the agency, it is necessary to keep a book of comments and suggestions. The positive feedback received after the event about the work will be useful for attracting the following customers. The book can be shown at the first meeting with a potential client.
It would be logical for the first customers to offer good discounts. You can also develop a discount “for a referred friend”, that is, for a recommendation. Various promotions and discounts will help you stand out from competitors and “stay afloat” in the “off-season”.
Additional activities to promote the agency’s services will be expert consultations in social networks, various master classes, creative meetings with well-known leaders in the city and the region, photographers, decorators and other specialists in the wedding industry..
5. Production plan.
To start the production process in a wedding agency (providing services for organizing celebrations), it is worth deciding on the scale of the activity. Both initial and current costs and profit directly depend on it. It can be an agency without any official registration, office and employees, where all activities are carried out by the head independently.
Such a business can be opened with little or no initial and ongoing costs. But also an agency can be a registered LLC, with its own office, a large staff of employees. Any wedding agency can go from a small company that practically does not require financial costs, but also does not bring serious income to a large event-agency that is popular.
This business plan considers the “golden mean”, which implies the rental of a small office, a minimum of necessary equipment and a minimum staff.
Usually, the formation of such a business takes place in the following stages:
The choice of the form of ownership. Company registration.
For the business to be legal, it is better if the agency is properly registered. The best option would be to register as an individual entrepreneur (IE). The registration cost is lower, the process itself is easier. Attractive taxation system.
But if a joint business is planned, then, as an option, it is better to consider the registration of an LLC, where each participant will be a full founder..
In addition to registration documents, this type of activity does not require obtaining special licenses..
Selection and preparation of premises.
As mentioned above, a wedding agency with minimal costs can be opened without an office. But nevertheless, clients will more trust a company with a permanent office, which has a permanent legal address, rather than an agency, with a representative of which the client meets in a cafe or at home..
The wedding agency office should be selected according to the following criteria:
Location. The main requirement here is availability for the client. Therefore, it is better to rent an office on one of the central streets of the city, in a shopping or office center with good traffic, transport interchange, parking for personal cars of clients. The size of the room. A small room of 30m2 or more is enough.
There you can easily fit a manager’s desk and workstations for several employees. If possible, it is advisable to make the manager’s office separate. The exterior of the room. Ideally, if there is an opportunity to renovate the office using the agency’s corporate colors.
The office is the business card of the company. That is why it must be presentable, comfortable, and trustworthy..
Purchase of the necessary equipment.
This implies the creation of 4 jobs: for a manager, an administrator, two managers (project managers). Each workplace consists of a table, an armchair and two visitor chairs.
The manager’s workplace is completed with more expensive furniture. There is a computer on each table, which is connected via a local network to a common 3-in-1 device (printer, scanner and copier).
The office has one city telephone line, to which 4 telephones are connected. For cellular communication, employees’ personal phones are used, communication costs are compensated. Each of the managers additionally receives tablets for going to meetings with clients and contractors.
All office employees must be equipped with constant Internet access. For this purpose, it is recommended to install a wi-fi router.
In addition to workplaces, it is necessary to equip a place for meeting clients. Therefore, the reception area is completed with a comfortable sofa, a wardrobe for outerwear, preferably with a mirror, a coffee table. And for the normal life support of the office, an electric kettle, a refrigerator and a microwave oven are purchased.
The list of required equipment and its approximate cost are presented in the table below..
Name Quantity Price for 1 piece. Total amount Table 4 6,000 24,000 Armchair 4 4,000 16,000 Chair 8 1,200 9,600 Computer 4 30,000 120,000 Office equipment 1 18,000 18,000 Coffee table 1 7,000 7,000 Wardrobe 1 8,000 8,000 Rack 1 4 000 4 000 Tablet 2 18 000 36 000 Tea corner equipment 1 12 000 12 000 Total: 254 600.
Selection of personnel, contractors.
At this stage, the manager selects personnel, draws up labor contracts. Creates a base of contractors.
The following channels are used for recruiting personnel and contractors:
personal connections; recommendations of friends; recruitment agency services.
Contractors here mean direct performers and suppliers of wedding services: presenters, photographers, car rental companies, florist shops and others. To find them, you can use the advertisements given by them for the provision of services. Each contractor prepares his portfolio, presenters write scripts, exclusive programs are developed for especially demanding clients.
Informing the public about entering the market.
At this stage, an advertising campaign is carried out. The agency’s website is being created, its competent promotion is organized. It is at the stage of entering the market that it is important not to save on this..
Service delivery process.
The service delivery process is as follows:
First meeting with a client. The needs and wishes of the customer are listened to. The approximate budget of the event is determined. Second meeting.
An agency employee offers services and specific performers, the plan and cost estimate of the event is approved, a contract for the provision of services is concluded. The client makes an advance payment. The process of preparing for the event. Consultations by phone, if necessary, an appointment.
Day of the event. Signing of the certificate of completion after the celebration.
6. Organizational structure.
For the normal functioning of an average wedding agency, especially when entering the market, it is enough to have the following employees on its staff: the head of the agency, an administrator who will also perform the functions of an accountant. Indeed, with the form of ownership of an individual entrepreneur and choosing a simplified taxation system, all reporting is submitted only once a year. And the administrator can also perform current duties: payroll, payments to the budget, transfers to suppliers and contractors, maintaining cash records and others.
In addition, he answers phone calls, organizes meetings of the head and managers with clients and contractors. Meet clients in the office.
The main work with clients is carried out by project managers (managers). For the first time, two people are enough. With sufficient agency workload, business expansion and the emergence of new staff units are possible.
The role of the business owner here can be different. He can perform the functions of a business leader, or he can hire a specialist for this purpose. Can only manage employees, or can participate in the process of organizing weddings.
The staffing table with an indication of all the necessary specialists and their approximate salary are indicated in the table below.
Fixed costs Salary Number of employees Amount Average salary per month per employee Head 30,000 1 30,000 76 340 Administrator 20,000 1 20,000 57,072 Manager 25,000 2 50,000 57,438 Insurance premiums 30,000 Total payroll 130,000.
The administrator accepts incoming calls from clients or meets them at the office. Directs the client to a specific manager. It is the administrator who is assigned the primary role of the “determinant” of the client’s financial solvency.
All staff members report directly to the head of the agency. As a rule, he is also the owner of the business..
The head is in charge of VIP clients. He can also be a wedding planner in case all managers are busy with work, and the expansion of the staff is not included in his plans..
Wedding services are provided to clients by contractors. These are presenters, artists, photographers, videographers, florists, car rental companies and others. A one-time contract for the provision of services will be concluded with each contractor. Contractors work on a 50% prepayment basis. The contractor receives the second 50% after the provision of the service and the signing of the certificate of completion.
All these conditions are spelled out in the contract between the agency and the contractor..
The contractor sets the price for his service. The price for the service depends on the work experience, the quality of the services provided. For example, the cost of a beginner wedding host and a media person (famous person) will vary greatly.
The agency will receive a commission of 10% on each service rendered by a specialist or contractor company.
Managers control their work, and their activities are controlled by the head.
7. Financial plan.
Investments for opening Registration, including obtaining all permits 10,000 Signboard 30,000 Advertising materials 20,000 Purchase of equipment 254,600 Other 10,000 Total 324,600 Monthly payroll costs (including deductions) 278,288 Rent 31,500 Utilities 4,000 Advertising 20,000 Accounting (remote ) 10,000 Contingencies 10,000 Total 353 788.
The sales plan for 24 months, taking into account the seasonality, the forecast of investment efficiency and the calculation of the economic indicators of the business are presented in the financial model.
8. Risk factors.
Like any business, setting up a wedding agency comes with some risks. Let’s take a closer look at the risk factors and analyze their degree of influence..