This document/information does not constitute, and should not be considered a substitute for, legal or financial advice.
Each financial situation is different, the advice provided is intended to be general.
Monaghan says that although no one formally tracks these figures, his estimate is based on the number of people who pay for memberships to the various professional associations as well as the number of people on mailing lists available from list brokers.
According to Monaghan, one out of every eight retail dollars is spent on wedding-related products and services.
A portfolio is a must if you want to show clients and colleagues your skills.
A quality portfolio should contain lots of photographs, but it should also have ideas on vendors, sample seating charts, and dummy wedding planning schedules, so you can emphasise to potential clients how your services can streamline their wedding plans.
This saves you from hyperfocusing on the financials and instead allows you to refine your offerings and tweak your prices to ensure you’re really meeting the demands of the marketplace.
With a finance and marketing plan in place, you can learn the ropes as you go along.
In some cases, you may need a license to run a business in your municipality.
In addition, if you plan to combine your wedding consulting business with other services, such as a brick and mortar floral shop, a catering company, or a rental hall, you may need a permit for those establishments.