Home-Based Wedding Business: Wedding Favors & Gifts

June 3, 2015 at 9:18 am Leave a comment

1315837_56177348Turn your love of creativity into a home-based wedding favor and gifts business. Home-based wedding favor businesses create small gifts to show appreciation to wedding reception guests and wedding party members. According to Library of Congress research, the wedding industry is enormous in term of dollars, primarily composed of many smaller businesses including home-based wedding businesses. Now that you have a great product, read on to learn more about some of the basics of starting a wedding favors and gifts business.

First Steps                   

Before getting started, take the time to do your research and create a business plan. This is an essential for a guideline and measuring milestones for your new business. There will be many questions and decisions to consider from finances to distribution. Do you know how many weddings per year take place in your area? Learn about the most popular months to get married and who is your competition?

Home Office and Work Space

Designate a certain area of your home as your office and work space. By making a separate space for business this helps create a physical boundary between work and home life. Home office necessities include a computer, business software and internet. Procure the necessary supplies and materials needed to create your favors and gifts

Registration, Permits and Licenses

Decide on the type of legal structure for your wedding favors and gift business. Considerations include sole proprietorship, limited liability company (LLC), corporation, corporation S or cooperative. Obtain a tax identification number and register your business name with your state government. Ensure your business has the appropriate permits and licenses to legally operate in your area.

Finances and Budgets

Make a budget and stick to it, this will help you assess your cash flow and keep track of finances. Budgets may be intended for the fiscal year, semi-annual, quarterly or monthly.

Website and Social Media

Showcase your wedding favors on your own business website; let everyone know why they should choose your favors. Things needed for your own website include a domain name, web host, applications and analytics. Offer social media options for your customers as well such as Facebook, Twitter, Instagram or Google+

Advertising and Marketing

Spread the word of your new wedding favor business with advertising and marketing. Ideas might include exhibiting at a bridal show and meeting with potential customers, advertising on the internet with a Facebook ad or Google AdWords, , networking with other wedding businesses and joining professional business associations.

Exhibit at the Great Bridal Expo, the nation’s longest-running national bridal show — nearly 40 years in business featuring both national and local area businesses with the latest in wedding trends. Exhibit to meet with the couples, brides, friends, families and wedding planners who attend who are in need of your business’ product or service. The many benefits for exhibitors include high-quality venues, a comprehensive bridal show marketing plan, complete contact database, post-show advertising and the opportunity to present your business to the wedding market.

Request Exhibitor Information Here

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