Home-Based Wedding Business: Writing a Business Plan

June 26, 2015 at 9:17 am Leave a comment

81363526Couples getting married seek the products and services of a wide variety of wedding professionals to help make their wedding dreams come true. Each year over two million couples get married in the US, planning a wedding requires lots of organization and attention to detail. Offer your customers the same consideration, an organized wedding business that helps with the details and a good way to start is with a sound business plan, a document outlining your plan to success. Read on to learn some of the basic elements of writing a business plan for home-based wedding businesses.

Wedding Business Description

Provide a detailed description of what your business does and describe what section of the wedding market that you intend to fulfill. Describe how exactly your wedding businesses will serve the needs of couples looking for your products or services. List how your wedding business will be competitive and what are the factors that will contribute to success such as expertise or value.

Wedding Market Analysis

In this section of your business plan you will conduct a market analysis of your particular sector in the wedding industry. Determine who your target market is, the current size of the market and what their pressing need is and how your business will help. Understand who your competition is and what are their strengths and weaknesses as well as your own. Outline your pricing structure, determine gross margins levels and decide on the types of discounts you plan to implement.

Selecting a Business Structure

Choose a structure for your wedding business such as sole proprietorship, partnership, corporation, S corporations or Limited Liability Company. Establish ownership information, listing the owner names along with profile information including expertise, previous experience and nature of involvement with company.

Services or Products

In this section of your business plan you will elaborate in detail about the features and benefits of your products or services. Focus on meeting your client’s needs and the competitive edge you have to offer.

Marketing and Sales Strategy

Describe how you plan to get customers and your method of approach. Go into detail regarding your market entry strategy, growth strategy, distribution strategy and communication strategy.

Objectives and Projections

Know your objectives and generate a projection for your wedding business including pertinent information such as balance sheets and cash flow statements to a ratio and trend analysis. The purpose is to assist with applicable allocation of your resources and reach goals.

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

 

References

Create Your Business Plan

SBA.gov: Home-Based Businesses

Library of Congress: Wedding Industry Research

 

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Entry filed under: Exhibitor Information. Tags: , , , .

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