How To Write a Winning Wedding Venue Business Plan + Template
Creating a business plan is essential for any business, but it can be especially helpful for wedding venue businesses who want to improve their strategy and/or raise funding.
A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.
This article provides an overview of the key elements that every wedding venue business owner should include in their business plan.
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What is a wedding venue business plan.
A wedding venue business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.
Why Write a Wedding Venue Business Plan?
A wedding venue business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.
Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.
Writing an Effective Wedding Venue Business Plan
The following are the key components of a successful wedding venue business plan:
Executive Summary
The executive summary of a wedding venue business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.
- Start with a one-line description of your wedding venue company
- Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.
Company Description
This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.
If you are just starting your wedding venue business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your wedding venue firm, mention this.
You will also include information about your chosen wedding venue business model and how, if applicable, it is different from other companies in your industry.
Industry Analysis
The industry or market analysis is an important component of a wedding venue business plan. Conduct thorough market research to determine industry trends and document the size of your market.
Questions to answer include:
- What part of the wedding venue industry are you targeting?
- How big is the market?
- What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?
You should also include sources for the information you provide, such as published research reports and expert opinions.
Customer Analysis
This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.
- For example, a wedding venue business’ customers may include:
- Wedding planners
- Couples getting married
- Parents of the bride or groom
- Friends of the bride or groom
You should also describe how you will reach your target market. For example, if you are targeting wedding planners, what is your strategy for marketing to them? Will you use online advertising, networking at industry events, or direct mail?
You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.
Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or wedding venue services with the right marketing.
Competitive Analysis
The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.
For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.
Below are sample competitive advantages your wedding venue business may have:
- More locations
- Larger venues
- More affordable venues
- Unique/specialty venues
- All-inclusive packages
- More experienced staff
- Better customer service
Marketing Plan
This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.
- Product/Service : Detail your product/service offerings here. Document their features and benefits.
- Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
- Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
- Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your wedding venue business via public relations, speaking engagements, or by exhibiting at trade shows.
Operations Plan
This part of your wedding venue business plan should include the following information:
- How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
- What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?
The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.
Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a wedding venue business include reaching $X in sales. Other examples include adding new locations, increasing wedding bookings by X%, or expanding service offerings.
Management Team
List your team members here including their names and titles, as well as their expertise and experience relevant to your specific wedding venue industry. Include brief biography sketches for each team member.
Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.
Financial Plan
Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix).
This includes the following three financial statements:
Income Statement
Your income statement should include:
- Revenue : how much revenue you generate.
- Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
- Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.
Sample Income Statement for a Startup Wedding Venue Business
Balance sheet.
Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:
- Assets : All of the things you own (including cash).
- Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
- Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.
Sample Balance Sheet for a Startup Wedding Venue Business
Cash flow statement.
Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:
- Cash Flow From Operations
- Cash Flow From Investments
- Cash Flow From Financing
Below is a sample of a projected cash flow statement for a startup wedding venue business.
Sample Cash Flow Statement for a Startup Wedding Venue Business
You will also want to include an appendix section which will include:
- Your complete financial projections
- A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
- Any other documentation which supports what you included in the body of your business plan.
Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your wedding venue company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.
A well-crafted business plan is an essential tool for any startup wedding venue company. It is also important to remember that your business plan should be a living document that you revisit and update as your business grows and changes.
Finish Your Wedding Venue Business Plan in 1 Day!
Event Venue Business Plan Template
Business Plan Outline
- Event Venue Business Plan Home
- 1. Executive Summary
- 2. Company Overview
- 3. Industry Analysis
- 4. Customer Analysis
- 5. Competitive Analysis
- 6. Marketing Plan
- 7. Operations Plan
- 8. Management Team
- 9. Financial Plan
Start Your Event Venue Plan Here
Event Venue Business Plan
You’ve come to the right place to create your business plan.
We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their event venues.
Event Venue Business Plan Sample & Template
Below are links to each section of a sample plan that can be used as a template for your own plan:
Next Section: Executive Summary >
Event Space Business Plan FAQs
What is an event venue business plan.
A business plan is used to start and/or grow your venue. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan, and details your financial projections.
You can easily complete your event venue business plan using our Event Venue Business Plan Template here .
What Are the Main Types of Event Venues?
There are many types of event venues. Some own one venue and rent it out for wedding receptions, corporate events, and other parties. Others have relationships with and rent out hotels, sports arenas, restaurants, and other venues which are desirable to their clientele.
What Are the Main Sources of Revenues and Expenses for an Event Space?
The primary source of revenue for event venues is booking fees paid by clients. Sometimes event spaces also generate revenue from catering events and providing entertainment at them.
The key expenses for event venues are the cost of leasing the venue(s) and staffing costs, particularly if they provide services during the events.
Read more about how to get funding: Seeking Funding from Angel Investors vs Venture Capitalists .
How Do You Get Funding for Your Event Venue Business Plan?
Event venues are most likely to receive funding from banks. Typically you will find a local bank and present your plan to them. Angel investors and credit card financing are other common funding sources.
What are the Steps To Start an Event Venue Business?
Starting an event venue business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop An Event Venue Business Plan - The first step in starting a business is to create a detailed event venue business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your event venue business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your event venue business is in compliance with local laws.
3. Register Your Event Venue Business - Once you have chosen a legal structure, the next step is to register your event venue business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your event venue business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Event Venue Equipment & Supplies - In order to start your event venue business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your event venue business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful event venue business:
- How to Start an Event Venue Business
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Wedding Venue Business Plan Template
Wedding venue business plan.
If you want to start a successful wedding venue or expand your existing business, you need a business plan.
The following wedding venue business plan template gives you the key elements to include in a successful wedding venue business plan.
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
Wedding Venue Business Plan Example
Below are links to each of the key sections of a sample wedding venue business plan:
- Executive Summary – The Executive Summary sets the tone for your business plan by providing a brief overview of the wedding venue and its services. If you are seeking funding for your wedding venue business, such as a business loan or angel investors, the executive summary will be a key component of capturing the interest of investors.
- Company Overview – In the Company Overview section, you should provide a detailed overview of your wedding venue business including your legal structure and business history. Describe the wedding venue services your business provides, such as wedding planning and coordination, catering, event management, and any a la carte services.
- Industry Analysis – This section of your wedding venue business plan will provide insights into the wedding venue industry, including the local demand, and outline the competitive landscape and potential opportunities for growth within the wedding industry.
- Customer Analysis – The Customer Analysis section will provide the demographics and psychological behaviors of your target audience. This is critical for understanding the needs of your customers and what they are looking for in a wedding venue.
- Competitive Analysis – The Competitive Analysis section you will identify the main competitors in your market and analyze their strengths and weaknesses to then identify your competitive advantage.
- Marketing Plan – In the Marketing Plan section, you will create a plan for how you will market and promote your wedding venue business. This section will include marketing strategies, promotional strategies, pricing, and advertising tactics.
- Operations Plan – The Operations Plan section of your own wedding venue business plan will include information on the systems and processes you will use to manage your wedding venue business. This includes event management, customer service, staff management, and more.
- Management Team – The Management Team section of your wedding venue business will include information on the owners and key personnel. This section should include their experience, qualifications, and responsibilities.
- Financial Plan – In your Financial Plan, you will include the financial projections for your wedding venue business. This section should include income statements, balance sheets, and cash flow statements.
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Wedding Venue Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
Wedding Venue Business Plan Sample
Field, hall and barn wedding venue business plan guide.
Due to the high demand for wedding venues and related services in Memphis, we are have researched the market over a 3-year period to measure the forces of demand and supply as well as the opportunities that will impact on our profitability. The results we obtained are impressive. However, we have discounted factors such as natural disasters and recession. The table below shows a summary of our findings.
Also because of the nature of weddings where there are several invited guests, we see this as an opportunity to attract others by our quality services as they are likely to recommend us to friends, family or even for their own wedding occasions.
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Wedding Venue Business Plan Template
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What You Get
- A compelling & detailed pre-written Wedding Venue business plan template in WORD
- A full & automatic Wedding Venue financial plan model in EXCEL you can easily customize
- Customized text tailored to the Wedding Venue business
- The ability to paste advanced charts and tables within a click
- No accounting or specialized financial knowledge needed
- A truly cost-effective solution saving you time and money
Wedding Venue Business Plan Template Description
If you are looking to launch a Wedding Venue then you definitely need a detailed business plan in order to properly prepare for the launch of such a venture. Moreover, if you are looking to engage additional partners or persuade investors to join your exciting Wedding Venue project, then a business plan with solid financials are a must to help you make a strong case. Fortunately, our aim it to greatly simplify the process for you, below is the detailed description of what you get when you purchase our ready-made Wedding Venue business plan package.
Wedding Venue Business Plan Document in Word
Our ready-made Wedding Venue business plan template is in Word format and includes 22 pages. The document is divided into multiple sections. Each section contains the essential points that are necessary to effectively present your Wedding Venue project. Each section and sub-section offers you a sample text that you can easily customize to make your business plan unique. Below is an excerpt from your pre-written Wedding Venue business plan document in Word.
Automatic Wedding Venue Financial Plan in Excel
Our pre-populated pro-forma financial model is in Excel format and includes multiples worksheets. You can easily edit the model’s inputs including changing costs and revenue assumptions to generate pro-forma financial forecasts including P&L, Cash flows and Balance Sheets. Below is a sample from your Wedding Venue financial plan in Excel.
This Ready-Made Wedding Venue Business Plan is For
- Entrepreneurs wishing to start a Wedding Venue business
- Aspiring Wedding Venue owners who want to create a business plan fast & easy
- Entrepreneurs who wish to pitch their project to investors
- Investors who wish to better understand the potential of the opportunity
Immediate Delivery by Email
- Once you complete the order, you will receive an email with links to download your documents
- Your order will contain the full pre-written business plan in Word
- Your order will contain the full customizable financial model in Excel
Your Wedding Venue Business Plan Content
Executive Summary: Our Wedding Venue business plan template starts with a compelling Executive Summary. This key section is very important as it summarizes in 1 page your Wedding Venue project. It will introduce your business model, the key people behind the project as well as the unique selling proposition offered by your Wedding Venue project. This section will also mention how market conditions and consumer trends are favorable for launching your project.
The Problem Opportunity: Next, your ready-made Wedding Venue business plan will list a number of problems experienced by your prospects in your target market and will show how this presents a unique opportunity for your wedding venue business. These can include issues such as lack of a particular type of venues in a certain location, low or average service quality offered by existing players, undifferentiated offering by current actors in the market…etc.
The Solution: This section explains how your Wedding Venue will take advantage of the current problems in the market and will detail your innovative solution.
Mission & Vision: Your mission will explain in a couple of sentences your Wedding Venue’s business ethos. In other words, it will summarize your unique value proposition and will explain how you are different than the competition. Your vision will explain the long-term plans for your Wedding Venue project. Are you planning to expand the Wedding Venue into a guest house or hotel? Are you planning to penetrate other markets? …etc.
Business Model: This section details your Wedding Venue concept using the business model canvas method. In a visually appealing table, we will detail your Wedding Venue’s key partners, activities, resources, value proposition, customer segments, customer relationship plan, marketing channels, cost structure and revenue streams.
Products & Services: Next, we will talk in detail about your various products and services. We will describe your various types of products and services including venue rental, catering, add-on services, full wedding packages and other offerings…etc. We will also provide information about your pricing by season and expected margins.
Market Analysis: This important section describes the various market statistics and consumer trends in the wedding venue industry and explains how they support your own business. The purpose of this section is to show that the market conditions are favorable for launching your new Wedding Venue concept.
Global Market Trends: In this sub-section of the market analysis, we will discuss the latest global market trends in the wedding venue industry. We will look at the global industry size, growth rate, growth diving factors and consumer trends.
Local Market Trends: This sub-section explains the local market trends that are relevant to your specific Wedding Venue in your specific area of operation.
Target Customers: In this section, we will describe your various customer profiles by providing information about their demographics, behavior and purchasing habits.
Competitive Analysis: We will analyze key competitors active in your target market and provide insights about their strengths and weaknesses.
Competitive Advantages: After looking at the competitive landscape, we will then show how your Wedding Venue is differentiating itself from the competition through a number of key advantages.
SWOT Analysis: This section features a 4-quadrant table with explanations about how your Wedding Venue intends to leverage its key strengths, mitigate weaknesses, capture opportunities and thwart any future threats.
Marketing Plan : This chapter provides detailed information about your go-to-market strategy. It includes a detailed action plan to help you build brand awareness and generate sales.
Branding & Awareness: We will describe in this sub-section your choice of key marketing channels to build branding and awareness.
Customer Acquisition: We will describe in this sub-section your choice of key marketing channels to acquire customers and increase sales.
Operating Plan: This chapter provides information about your Wedding Venue’s opening hours, internal processes and describes the interactions between various key departments and teams.
Management Team: It is very important to present the key people behind your Wedding Venue project and thus we have dedicated a section for this very purpose. It is also important to talk here about the founder’s vision, his past education and professional experience.
Hiring Plan: No business can succeed without having on board the right team. This section lists all the key positions you plan to hire with information about their salaries and expected start dates.
Key Milestones: To be able to launch and execute your Wedding Venue project, you need to follow a set of actionable tasks with target deadlines. This section serves this purpose.
Financial Plan: Without a robust financial plan, your Wedding Venue business plan would be an incomplete document. This important section provides crucial information about your pro-forma financial projections and shows that you have really done your homework. The data mentioned in this, and the following sections, will be provided by the dynamic and automatic Excel financial model accompanying your Wedding Venue business plan.
Projected Revenue: This module shows your Wedding Venue’s revenue projections over the next three years.
Projected Profit and Loss: This module shows your Wedding Venue’s income statement (also called profit and loss statement) over the next three years. Your income statement includes detailed projections about your sales and expenses and shows how your Wedding Venue’s revenue is converted into a net profit.
Projected Cash Flows: This module shows your Wedding Venue’s cash flow projections over the next three years. The first year of operation is even detailed on a monthly basis. Your cash flow statement will detail the various cash inflows your Wedding Venue will generate from its day-to-day operations and from funding sources, as well as the various cash outflows required to pay for operating expenses and business investments.
Projected Balance Sheet : This module shows your Wedding Venue’s balance sheet projections over the next three years. The balance sheet will provide a summary of your Wedding Venue’s short term and long-term assets in addition to your short term and long term liabilities, and capital.
Profitability Analysis: In this section, we will provide information about your gross margin, net margin and discuss the profitability of your Wedding Venue business.
Funding Requirement: This module states the amount of funding your need to be able to comfortably launch your Wedding Venue business. It also describes the planned allocation of the funds between Opex and Capex.
Conclusion : Finally, we will conclude your business plan by recapitulating the key points that make your Wedding Venue project compelling and reiterate the rationale behind your business opportunity.
Why Use our Ready-Made Wedding Venue Business Plan?
- Speed & Convenience: Once you complete your order, you will receive the Wedding Venue business plan directly in your mailbox. Since it is already pre-written with fully customizable automatic financials, you will only need to spend a couple of hours to edit it and adapt it to your own project.
- High Quality: Your Wedding Venue business plan has been written by our professional team of business plan writers and experts from the Wedding industry. You will receive a professional Wedding Venue business plan template ideal for presenting to potential investors or banks.
- Low-Cost: Our pre-written business plan template is the most cost-effective solution in case you need to build a solid and professional Wedding Venue business plan. We are confident you will save hundreds if not thousands of dollars by ordering our premium business plan compared to hiring a consultant or subscribing to complicated and expensive software.
If you have any question regarding our ready-made Wedding Venue business plan package, do not hesitate to contact us , we are here to help.
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TLC Wedding Consultants
Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.
TLC Wedding Consultants is a full service company that provides complete consulting services for weddings, holy unions and anniversaries. Our consultants are experienced and dedicated professionals with many years of event planning experience. TLC is unique in that we give our clients our undivided attention. We listen to their needs and work with them to create the event of their dreams. Our clients’ wishes become our commands. So whether our client wants a Western, Tropical, Las Vegas or more traditional wedding, we can help. Our services include weddings, honeymoons, receptions, anniversary consultations, budget planning, answers to etiquette questions, as well as full-service referrals to florists, hair stylists, entertainers, musicians, etc.
1.1 Mission
TLC Wedding Consultants is a full service company that provides complete consulting services for weddings, holy unions and anniversaries. Our consultants are experienced and dedicated professionals with many years of event planning experience. TLC is unique in that we give our clients our undivided attention. We listen to their needs and work with them to create the event of their dreams. Our clients’ wishes become our commands. So whether our client wants a Western, Tropical, Las Vegas or more traditional wedding or anniversary party, we can help. Our services include weddings, honeymoons, receptions, anniversary consultations, budget planning, answers to etiquette questions, as well as full-service referrals to florists, hair stylists, entertainers, musicians, etc.
1.2 Objectives
Whether this is our client’s first wedding, a renewal of their vows or their anniversary, we want every detail of their event to be both a pleasurable and a memorable experience. Therefore we offer a host of packages and services specifically tailored to the needs of each couple. We are confident that this business venture will be a success and we estimate that our net income will increase modestly by the second year.
1.3 Keys to Success
The keys to our success are as follows:
- Maintain a professional image at all times.
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How to Write a Wedding Planning Business Plan [Sample Template]
Are you about starting a wedding planning company? If YES, here is a complete sample wedding planning business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a wedding planning company .
We also took it further by analyzing and drafting a sample wedding planning service marketing plan template backed up by actionable guerrilla marketing ideas for wedding planning companies. So let’s proceed to the business planning section.
Why Start a Wedding Planning Business?
Wedding planning is a business that anyone with the necessary soft skills (i.e. organizing skills) can venture into. Wedding planning requires that you take off the burden of planning a wedding off the shoulders of your clients. Therefore, you would need an eye for details in addition to the eye you have got. Confused? Do not be, that was on a lighter note.
Now, the truth is that you would need to be extremely detailed. You do not want to come across your clients as one who leaves some kills important details out. If you do not possess this skill now, you may consider building it up.
Starting a wedding planning company is not too expensive except for the money required to rent and furnish an office space. The key to a successful wedding event is to ensure that all that is listed in your wedding event planning checklists is ticked. As a matter of fact, if you undergo wedding cum event planning training, you are going to be taught how to draft event planning checklists for various events and key components that must be listed in your checklists.
One good thing about wedding planning is that most often than not, weddings are done during weekends and if you are lucky not to be working during weekends, you can successfully test run a wedding planning business. The truth is that, most of the basic skills needed to effectively run a wedding planning business are some of the soft skills you are likely going to acquire in your work place.
If you are truly convinced that starting a wedding planning company is the right business for you to do, then you need to write your own business plan. Below is a sample wedding planning company business plan template that will help you successfully write yours with little or no stress;
A Sample Wedding Planning Business Plan Template
1. industry overview.
Wedding planners organize and design marriage ceremonies and receptions. A wedding planner ensures that they work with the stipulated budget of their clients and ensure that they deliver a successful wedding event as agreed. In some cases, it is the responsibility of the wedding planner to draw – up a budget for the client once they get a brief of the nature of the wedding event to be hosted.
A close study of happenings in the Wedding Planners industry in the united states shows that the industry has experienced remarkable growth and this is due to stronger economic conditions. It is normal that with increase in disposable incomes, there will be encouragement for more couples to marry, and to spend more on wedding planning or services related to their weddings.
So also, increased internet usage has made wedding planners more accessible to clients, decreasing the industry’s marketing costs and boosting profit margins. These trends will offset the impact on the industry of changing social norms that have led couples to postpone marriage longer. No doubt, as the economy continues to strengthen, the growth in the wedding planners industry is expected to accelerate.
The Wedding Planners Industry is indeed a large industry and pretty much active in countries such as United States of America, United Kingdom, France, Italy, Holland, Nigeria, Switzerland, Australia and Canada et al.
Statistics has it that in the United States of America alone, there are about 39,643 registered and licensed wedding planning company scattered all across the United States responsible for employing about 41,714 and the industry rakes in a whooping sum of $1 billion annually. The industry is projected to grow at -1.9 percent annual growth within 2011 and 2016. It is important to state that there is no establishment in this industry that has a lion market share.
A recent report published by IBISWORLD shows that the Wedding Planners industry is highly fragmented and largely distributed proportionally with population in the United States. The report stated that in 2015, the Southeast held the most industry establishments of any region, at 29.7 percent of the total. New England and the Rocky Mountains are expected to hold the least, at 4.4 percent each.
The Southeast region is expected to have 29.7 percent of industry establishments. This region also includes the state with the most establishments, Florida, which has an estimated 13.7 percent of industry establishments. The report further stated that States like Florida are population destination wedding locations. Locations such as Disney World are very popular for weddings, which is why the number of establishment outpaces the proportion of population located in the region.
Lastly, one thing is certain about starting a wedding planner company, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to secure clients because there are always individuals (bachelors and spinsters) who would want to hire your services when they are about getting married. Just ensure that the business is properly located and you have the right business network.
2. Executive Summary
Cloe Davenport Wedding Planners®, LLC is a standard and licensed professional wedding planning company that will be based in Panama City – Florida. We have been able to secure a standard and well – positioned office facility in a business district in the heart of the city.
Cloe Davenport Wedding Planners®, LLC will handle all aspect of wedding planning such as wedding coordination, wedding shower / Bachelor’s eve, manage client’s time constraints, manage client’s budget, day-of-coordination services, conceptualization and design, full coordination services, and month of direction et al. We are aware that to run a standard wedding planner company can be demanding which is why we are well trained, licensed and equipped to perform excellently well.
Cloe Davenport Wedding Planners®, LLC is a client-focused and result driven wedding planner company that provides broad-based services at an affordable fee that won’t in any way put a hole in the pocket of our clients. We will offer a standard wedding planner services to all to our clients at local, state, national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they contract their wedding planning to us.
Our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in the Wedding Planners industry cum event planning industry.
Cloe Davenport Wedding Planners®, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Our plan is to position the business to become the leading brand in the professional wedding planners’ line of business in the whole of Panama City – Florida, and also to be amongst the top 20 professional wedding planner companies in the United States of America within the first 10 years of launching the business.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our market research and feasibility studies and we are enthusiastic and confident that Panama City – Florida is the right place to launch our wedding planner company before spreading to other parts of The United States.
Cloe Davenport Wedding Planners®, LLC is a private registered business that is owned by Mrs. Cloe Davenport and her immediate family members. Mrs. Cloe Davenport has well over 10 years of experience working at various capacities within the wedding planners cum Event Planners industry in the United States of America. She will work with a team of other core professionals to help build Cloe Davenport Wedding Planners®, LLC to become a top brand in the Event Planners industry.
3. Our Products and Services
Cloe Davenport Wedding Planners®, LLC is going to offer varieties of services within the scope of the Wedding Planners industry in the United States of America. Our intention of starting our wedding planner company is to favorably compete with leading players in the Wedding Planners industry both in the United States of America and in the world at large.
We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition. Our business offerings are listed below;
- Wedding coordination
- Wedding shower / Bachelor’s eve
- Manage client’s time constraints
- Manage client’s budget
- Day-of-coordination services
- Conceptualization and design
- Full coordination services
- Month of direction
- Wedding planning consulting and advisory services
4. Our Mission and Vision Statement
- Our vision is to build a professional wedding planner company brand that will become one of the preferred choices for about to wed couples in the whole of Panama City – Florida and every other city where our services will be advertised. Our vision reflects our values: integrity, service, excellence and teamwork.
- Our mission is to provide professional and trusted wedding planners services that assist our clients in achieving their personal goals as it relates to their wedding event. We are going to position the business to become one of the leading brands in the wedding planner line of business in the whole of Panama City – Florida, and also to be amongst the top 20 professional wedding planner companies in the United States of America within the first 10 years of launching the business.
Our Business Structure
Normally we would have settled for two or three full – time staff members, but as part of our plan to build a standard professional wedding planner company in Panama City – Florida, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, honest and hardworking employees to occupy all the available positions in our organization.
The picture of the kind of professional wedding planner company we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around Panama City – Florida.
We will ensure that we only hire people that are qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer / Principal Partner
Wedding / Event Planning Consultant
Admin and HR Manager
- Business Developer / Marketing and Sales Executive
- Customer Care Executives
5. Job Roles and Responsibilities
Chief Executive Office / Principal Partner:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Organizes wedding and other events from start to finish
- Responsible for interviewing and hiring vendors, selecting and ordering materials, negotiating rates, coordinating the sequence of wedding events, following up with guests and vendors and producing full-scale events.
- Plans, designs and produces wedding events while managing all project delivery elements within time limits
- Liaises with clients to identify their needs and to ensure customer satisfaction
- Conduct market research, gather information and negotiate contracts prior to closing any deals
- Provides feedback and periodic reports to stakeholders
- Propose ideas to improve provided services and wedding event quality
- Organizes facilities and manages all wedding event’s details such as decor, catering, entertainment, transportation, location, invitee list, special guests, equipment, promotional material etc.
- Ensures compliance with insurance, legal, health and safety obligations
- Specify staff requirements and coordinate their activities
- Cooperate with marketing and PR to promote and publicize wedding event as requested by our client
- Proactively handle any arising issues and troubleshoot any emerging problems on the wedding event day
- Conducts pre- and post – wedding event evaluations and report on outcomes
- Research market, identify wedding event opportunities and generate interes
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Designs job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversees the smooth running of the daily office activities.
Marketing Executive / Business Developers
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writes winning proposal documents, negotiate fees and rates in line with company policy
- Responsible for handling business research, marker surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- create reports from the information concerning the financial transactions recorded by the bookkeeper
- Prepares the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the organization
Client Service Executive
- Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
- Receives parcels / documents for the company
- Handles enquiries via e-mail and phone calls for the organization
- Distributes mails in the organization
- Handles any other duties as assigned by the line manager
6. SWOT Analysis
Going by our vision, our mission and the kind of business we want to set – up, we don’t have any other option than to follow due process. Following due process involves hiring business consultant to help us conduct SWOT analysis for our business. Cloe Davenport Wedding Planners®, LLC hired the services of a seasoned business consultant with bias in start – ups in the United States to help us conduct a thorough SWOT analysis and to guide us in formulating other business strategies that will help us grow our business and favorable compete in the Wedding Planners industry.
As a company, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Cloe Davenport Wedding Planners®, LLC.
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in the Wedding Planners industry.
Aside from the synergy that exist in our carefully selected team members and our strong online presence, Cloe Davenport Wedding Planners®, LLC is well positioned in a city with the right demography and we know we will attract loads of corporate and individual clients from the first day we open our doors for business.
As a new professional wedding planner company in Panama City – Florida, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated Wedding Planners industry; that is perhaps our major weakness. So also, we may not have the required money to give the business the kind of publicity that we would love to give the business.
- Opportunities:
The opportunities available in the Wedding Planners industry is massive considering the number of wedding and other events that takes places on a daily basis in the United States. As a standard and licensed professional wedding planner company, we are ready to take advantage of any opportunity that comes our way.
Some of the threats that we are likely going to face as a professional wedding planner company operating in the United States of America are unfavorable government policies , the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
The Wedding Planners industry is in a continuous state of evolution and as such, ground breaking strategies and ideas that are once highly successful are no longer as productive as they were in time past. Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools.
The trend also extends to increased attention paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning wedding events, and of course increases in demands from wedding event sponsors.
Although operators in the Wedding Planners industry are increasingly investing in computers and software to engage members and market their organizations online, the industry remains highly labor intensive. The research further states that wedding planner companies rely much more heavily on labor than technology to conduct their operations.
As a matter of fact, social media has now become one of the most important tools wedding event planners leverage on to disseminate information about their wedding events, interact with attendees, solicit feedback, and create year-round engagement with their target audience.
Furthermore, new software apps and emerging technology have made it easier for wedding planners to gather all the needed data and information that will help them plan and project for the future.
In recent time, mobile event apps are becoming more popular; wedding cum event planner can now successfully market their services via social media platforms / online platforms. In the United States for example, there several vendors providing mobile apps with more wedding cum event planners patronizing the apps.
Over and above, increased internet usage has made wedding planners more accessible to clients, decreasing the industry’s marketing costs and boosting profit margins. These trends will offset the impact on the industry of changing social norms that have led couples to postpone marriage longer. No doubt, as the economy continues to strengthen, the growth in the Wedding Planners industry is expected to accelerate.
8. Our Target Market
Even though Cloe Davenport Wedding Planners®, LLC will initially serve clients within the location where our business is, but that does not in any way stop us from growing to be able to compete with the leading professional wedding planner companies in the United States.
As a standard and licensed professional wedding planner company, Cloe Davenport Wedding Planners®, LLC offers a wide range of services as it relates to wedding planning hence we are well trained and equipped to services a wide range of clientele base.
Our target market cuts across people of different class and people from all walks of life, local and international clients as well. We are coming into the industry with a business concept that will enable us work with the highly – placed people (celebrities and public figures et al) and at the same with the lowly placed people.
Below is a list of the people that we have specifically design our products and services for;
- About to wed couples
- Religious organizations
- Celebrities and public figures who are still singles and are getting set to wed
Our competitive advantage
No doubt, the Wedding Planners industry is indeed a very prolific and highly competitive industry. Clients will only hire your services if they know that you can successfully help them organize their wedding events and take away the stress from them.
We are quite aware that to be highly competitive in the Wedding Planners industry means that you should be able to deliver consistent quality service, your clients should be fell less stress or no stress at all and you should be able to meet the expectations of your clients at all times.
Cloe Davenport Wedding Planners®, LLC might be a new professional wedding planner company in the Wedding Planners industry, but the management team and the owner of the business are considered gurus in the industry, professional who have what it takes to grow a business from scratch to become a top brand within the shortest time possible.
They are people who are core professionals; licensed and highly qualified, people that can successfully help their clients organize successful wedding events. These are part of what will count as a competitive advantage for us. Aside from our robust experience and expertise of our team of experts, we have a very strong online presence that will enable us attract clients from any part of the world
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups wedding planner companies in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives. We will also engage freelance marketing agents on a commission level to help us market our services.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Cloe Davenport Wedding Planners®, LLC is established with the aim of maximizing profits in the Wedding Planners industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis. Cloe Davenport Wedding Planners®, LLC will generate income by offering the following services to individual clients and for corporate organizations;
10. Sales Forecast
One thing is certain, there would always be about to wed couples who would always need the services for professional wedding planners and also there would always be parties and events in the United States of America and as such the services of professional wedding planners cum event planners companies will always be needed.
We are well positioned to take on the available market in Panama City – Florida and of course throughout out the United States of America and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Panama City to other cities in Florida and other states in the U.S.
We have been able to critically examine the professional wedding planner market space and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Panama City – Florida.
Below are the sales projections for Cloe Davenport Wedding Planners®, LLC, it is based on the location of our business and the wide range of wedding planning services that we will be offering;
- First Fiscal Year-: $150,000
- Second Fiscal Year-: $350,000
- Third Fiscal Year-: $750,000
N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales strategy
We are mindful of the fact that there are stiffer competitions amongst professional wedding planner companies in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing.
Our sales and marketing team will be recruited base on their vast experience in the Wedding Planners industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.
We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard professional wedding planner business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).
Our goal is to grow our professional wedding planner company to become one of the top 20 professional wedding planner companies in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Panama City – Florida, but also in other cities in the United States of America.
Cloe Davenport Wedding Planners®, LLC is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our business by sending introductory letters alongside our brochure to corporate organizations, religious organizations, households and key stake holders in Panama City and other cities in Florida.
- Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
- List our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality wedding planning services to them
- Leverage on the internet to promote our business
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
- Join local chambers of commerce and industries with the aim of networking and marketing our services
11. Publicity and Advertising Strategy
We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the Wedding Planners industry by storm which is why we have made provisions for effective publicity and advertisement of our company.
Below are the platforms we intend to leverage on to promote and advertise Cloe Davenport Wedding Planners®, LLC;
- Place adverts on both print (community based newspapers and events related magazines) and electronic media platforms
- Sponsor relevant community based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote our brand
- Install our Bill Boards on strategic locations all around Panama City – Florida
- Engage in road show from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- Contact corporate organizations and religious organizations by calling them up and informing them of Cloe Davenport Wedding Planners®, LLC and the services we offer
- List our professional wedding planning firm in local directories / yellow pages
- Advertise our professional wedding planning company in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our schools’ logo et al.
12. Our Pricing Strategy
Just like in consulting business, hourly billing for wedding planning / event management / training services is also a long – time tradition in the industry. However, for some types of professional wedding planning services flat fees make more sense because they allow clients to better predict the overall service charges. As a result of this, Cloe Davenport Wedding Planners®, LLC will charge our clients both flat fee and hourly billing as long as it favors both parties.
At Cloe Davenport Wedding Planners®, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to our clients from time to time especially when they recommend clients to us.
We are aware that there are some clients that would need regular access to professional wedding planning consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.
- Payment Options
The payment policy adopted by Cloe Davenport Wedding Planners®, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Cloe Davenport Wedding Planners®, LLC will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via mobile money
- Payment via Point of Sales Machines (POS Machines)
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for our professional wedding planning services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our professional wedding planning services.
13. Startup Expenditure (Budget)
Starting a professional wedding planner business can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment. Basically, what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount to purchase the required software applications, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.
However, this is what it would cost us to start our own standard and world class professional wedding planner company in the United States of America;
- Equipping the office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
- Acquiring an office space that will accommodate the number of employees we intend employing for at least 6 months (Re – Construction of the facility inclusive) will cost – $35,000.
- The budget for liability insurance, permits and license will cost – $3,500
- Business incorporating fees in the United States of America will cost – $750.
- The cost for accounting software, event planning apps, CRM software and Payroll Software – $3,000
- Other start-up expenses including stationery – $1000
- Phone and Utilities (gas, sewer, water and electric) deposits – ( $3,500 ).
- Launching an official website will cost – $500
- Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
- Miscellaneous – $5,000
Going by the report from the market research and feasibility studies conducted, we will need about one hundred and fifty thousand ( 150,000 ) U.S. dollars to successfully set – up a medium scale but standard professional wedding planner company in the United States of America. Please note that the salary for the payment of staff members for the first 3 months is included.
Generating Funds / Startup Capital for Cloe Davenport Wedding Planners®, LLC
Cloe Davenport Wedding Planners®, LLC is a partnership business that will be owned by Mrs. Cloe Davenport and her immediate family members. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $50,000 ( Personal savings $35,000 and soft loan from family members $15,000 ) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Cloe Davenport Wedding Planners®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our professional wedding planning services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Cloe Davenport Wedding Planners®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Leasing a standard office facility in a good location plus reconstruction: In progress
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the school: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating awareness for the business in Smethport – Pennsylvania: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries: In Progress
More on B2C Sector
Here’s How to Make an Event Venue Business Plan
- Date : March 1, 2022
- Topic : Hosting
- By : Peerspace
Source: Peerspace
Having an event venue business plan is crucial to running a successful event space. Perhaps you own a fabulous space of one kind or another, and you believe it has the potential to be a moneymaker as an event venue for short-term rentals. Or, perhaps you’ve got an ultra-cool loft with lots of sunlight that you’d like to outfit as a space for high-profile meetings. Maybe you own a distinctive gallery filled with gorgeous art, and you’d like to add a source of income by hosting photoshoots. Or, you own it’s a stunning mansion that would be perfect for wedding receptions and parties.
Either way, you probably won’t want to jump right into renting your venue. It’s wisest to begin by creating a realistic, structured roadmap for yourself. That’s why your first step should be to create an event venue business plan. And we have exactly how to do so right here. Since Peerspace is the largest online marketplace for hourly event venue rentals, we know what makes a venue stand out from the crowd. Read on to learn how to make an event venue business plan.
Then, list your venue on Peerspace , and watch your bookings grow. Plus, to simplify rentals even further, Peerspace also offers an accompanying Concierge service that can help renters coordinate catering, furniture, A/V rentals, and other essential event logistics. We’ll explain ahead how putting your venue on the Peerspace platform complements a successful business plan while helping you generate lasting income.
What is a business plan?
First, let’s establish what a business plan actually means. At its most basic, a business plan is a description of what you envision for your business. They typically look forward to the next three to five years.
You can use your business plans to:
- As a guide for yourself, the entrepreneur
- As a way to demonstrate your ideas to possible investors
- To draw in new employees
- And really, anytime you need to clearly summarize your business and its goals
The average business plan is about 15 to 20 pages long (but some are much longer for more complex ideas). In the case of an event venue, your plan will probably run on the shorter side, especially if it’s just for your own planning purposes.
Whatever the length, a business plan is typically made up of three central sections, each addressing its own category:
- Description of the business itself — what will your business be like?
- Description of the market — who will your customers be?
- Financials — this is where quantitative stuff like income, cash flow, balance sheet, etc. will go
Ahead, we’ll share how to create an event venue business plan that works for your business needs.
Book the perfect event space.
Peerspace makes it easy to book the perfect event space. Browse our location library and enjoy no-hassle bookings today.
How to create an effective event venue business plan
Now that you know what a business plan is, how does this apply to the particular situation of an event venue business plan? Below, we share a list of five key steps that you can adapt to your specific needs and goals. After all, if you’re writing this plan intending to attract investors, it’ll probably be different from a document just for internal purposes.
Here’s our guide to creating an event venue business plan:
1. Do some initial research
This is one of the most crucial steps to writing an event venue business plan. Before you list your event space, you need to envision how its potential uses as well as the neighborhood, your target market, etc. Overall, you should be spending lots of time understanding your product, how it fits into the larger market, and the nature of your competition.
2. Brainstorm possibilities for your space
Now that you understand your product, market, etc., it’s time to think outside the box! It’s a total cliche, but it’s helpful to remember that there really are no bad ideas in brainstorming. Just go ahead and generate an extensive list of thoughts about what the space could do. Remember, consider who might be interested in it, how to redesign or redecorate to optimize its value to renters, and more. This is so individual that we can’t really give any specific suggestions. But, we’d recommend that you start by checking out this guide to mind-blowing brainstorming techniques .
3. Define the purpose of your event venue business plan
Decide whether you’re trying to attract investors or just funding the establishment of your event venue yourself. This makes a massive difference in what kind of information you’ll need to include in the final document — for instance, targeting investors means you’ll want to be exceptionally concise while being explicit about every detail that might concern investors (especially the financial aspects).
4. Gain a general understanding of the structure of a business plan
According to the U.S. Small Business Administration , the most well-known form of “lean startup” plan is the Business Model Canvas , created by Alex Osterwalder.
This form of a business plan should include the following elements:
- Key partnerships : Other businesses you’ll work with — this might include suppliers, cleaning companies, caterers, and so forth
- Key activities : How your business will achieve a competitive advantage, such as technological strategies (this might include use of Peerspace , which we’ve highlighted below); revenue streams, distribution channels, etc.
- Key resources : Significant resources and assets like capital, staff, etc.
- Value proposition : What it is, in a nutshell, that sets your business apart and allows it to make a distinctive contribution to the market
- Customer relationships : How your business will connect and interact with customers — the “customer experience”
- Customer segments : A defined target market or set of target markets for your venue
- Channels : The most significant modes of communication to customers
- Cost structure : Whether your business is more cost driven (with the leanest possible cost structure) or value-driven (more premium offerings); includes the most important costs (e.g. what key resources and key activities will be the costliest?)
Check out this helpful visual overview of the nine key business model building blocks listed above. And, of course, as you adapt this structure to your event venue business plan, you may or may not need all these sections. Feel free to omit whatever you decide is irrelevant to your goals or add more whenever you think some aspects of your plan require greater detail.
5. Plug it all into the business plan structure
So you’ve done your research, you’ve brainstormed a list of innovative possibilities that will set your venue apart in its market niche, and you understand how your business plan needs to be structured and what it should include.
Now it’s time for the nitty-gritty: you’ve reached the point of actually creating the event venue business plan itself! Good luck! We believe in you.
The best way to list your space for rent
Once you’ve got a business plan to be proud of and your vision for your event venue feels concrete, you can move on to listing it for rent on a revenue-generating platform.
Try Peerspace to draw in as many potential customers as possible. It’s the largest online marketplace for hourly rentals and will be most people’s go-to when they’re seeking out a location for their meeting, wedding, photoshoot, or other important events. This is because Peerspace is not only easy to use, but also includes the services of the Peerspace Concierge . The Concierge helps renters enhance their rentals with handy add-ons, such as catering and equipment.
Peerspace has learned that no matter the type of event space you own, there is a teeming marketplace just waiting to discover it! And by listing it on Peerspace , you open up the possibilities of having thousands and thousands of people across the globe see it. You set the price, upload incredible photos, and list the information and rules. And the simple and precise search features work to ensure that your target renters find you !
On top of that, there is a special Peerspace Host insurance policy to give you added peace of mind.
Having your listing on Peerspace will help considerably raise its profile, giving your new business its best shot at success. All on one safe and handy platform.
How do I list my event venue on Peerspace ?
It’s fast and easy to list your space on Peerspace ! Simply follow the link, click the “List Your Space” button, and follow the simple directions. The most crucial part of adding your event venue to the Peerspace platform is the listing you’ll create. This is where your potential guests will see your venue for the first time and examine all there is to know about it.
To prepare your listing, be sure to take about a dozen high-quality photos. We recommend hiring a professional photographer to do so, but if you’re taking the photos yourself with your photo, be sure to hold your phone horizontally. Aside from the photos that highlight your venue’s stunning features, you also need to craft an honest and thorough description and list all the amenities your guests-to-be can utilize when they book your space. This is about the time we encourage you to check out several other Peerpace event venue listings and see what other hosts list and use that to your advantage.
The final step is to set your hourly price, which is also where examining similar listings will help! It’s understandable if you’re not 100% certain what your venue’s rate should be. Factor in your business needs first and foremost and then compare prices with similar spaces near you. Once you’re ready to list, you can start accepting bookings. You can also contact Peerspace every step of the way with any questions you have.
Before you know it, booking requests will start flowing in and you’ll be enjoying some sweet, sweet revenue.
List your space and reach your target audience on Peerspace
Get together somewhere better.
Book thousands of unique spaces directly from local hosts.
Share your space and start earning
Join thousands of hosts renting their space for meetings, events, and photo shoots.
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Growthink's Ultimate Business Plan Template
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Wedding Venue Business Plan Template
– limited time offer –, special price. see below., the world’s #1 wedding venue business plan template — it’s the quickest and easiest way to create a winning wedding venue business plan, period.
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Frequently Asked Questions
Below are answers to your most frequently asked questions:.
Immediately upon purchasing Growthink’s Ultimate Wedding Venue Business Plan Template, you will be taken to our Member’s Area where you can instantly download our template and begin working on your business plan.
If for any reason you are not delighted with our product, simply contact our friendly support desk and you’ll be issued a full refund. You have an entire year to request a refund if desired.
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You can create an unlimited number of business plans with Growthink’s Ultimate Wedding Venue Business Plan Template. Once you purchase it, you have lifetime access to use it for any business in which you’re involved, now or in the future.
Yes, Growthink’s Ultimate Wedding Venue Business Plan Template works flawlessly on both PCs and Macs.
Growthink’s Ultimate Wedding Venue Business Plan Template is designed for both established Wedding Venues and startups.
Yes , you can! Anyone can easily follow our basic instructions and create a great business plan quickly and easily. Plus, my expert team is available to help you if you have any questions.
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Event Venues & Vendors near San Francisco, CA
If you are planning an event in San Francisco, there are some important things to consider. It's important that you're aware of the dates of your events, the kind of venue you might be interested in, and some specific details about the city that makes San Francisco unique from other destinations.
San Francisco is full of venue choices. You might choose an outdoor setting for your event, or a formal setting in a hotel or convention center. There are dozens of hotels that can accommodate groups ranging from 50 to 5,000 people, and the city’s outdoor settings that can also provide not only an interesting venue for your event but also a beautiful view as well.
San Francisco offers mild weather throughout the year, making outdoor events not only possible but desirable. However, the city can be windy and during certain times of the year rain can be expected, so with most locations, summertime is the best time to consider an outdoor venue. But there are many outdoor venues in San Francisco that offer views of the Golden Gate or Bay bridges, Golden Gate Park, or other well-known San Francisco landmarks.
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Linens, Moon-bounces, Tables, Tents, Lighting, Chair Covers, Dance Floors, Photo Booths
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A/V rentals, Projectors, Video Equipment, Audio Equipment, Computers, Sound and Lighting
Limo, Limousine, Airport Transportation
Marriage Ceremony, Justice of the Peace, Minister
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Bartenders, Wait Staff, Security, Valet Parking, Technical/Cleaning Services
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Wedding, Flowers, Florist
Home » Venues » CA » Carmel By The Sea
8 Beautiful Wedding Venues in Carmel By The Sea, CA (2023)
EDITOR'S CHOICE: We've handpicked the best of the best wedding venues in Carmel By The Sea CA to help you pick the right one for your big day.
Carmel-by-the-Sea is one of the most beautiful spots in all of California to host a wedding party, with its world-famous beaches and its craggy cliffs attracting tons of tourists and locals every day. Carmel-By-The-Sea is a small town, but with its proximity to Monterey and Big Sur, this gorgeous natural area is home to Pebble Beach, 17 Mile Drive, and Carmel River State Beach, as well as Carmel Mission and a variety of historic sites of cultural heritage.
To help you and your partner plan your upcoming wedding celebration in this area, we’ve created our list of the top eight wedding venues to be found in and around Carmel-by-the-Sea – we hope that you two enjoy reading through our list and checking out the very best venues to be found across Carmel and beyond!
Popular Regions near Carmel By The Sea :
Carmel Valley
Best Wedding Venues In Carmel By The Sea
Carmel Fields by Wedgewood Weddings
Rio Grill Restaurant
Sunset Cultural Center
La Playa Carmel
L'Auberge Carmel
- Forge In The Forest
- Anton & Michel
Carmel Fields by Wedgewood Weddings is one of the most sought after wedding venues to be found across Carmel and beyond, with its unforgettable locale and its natural beauty serving as a draw for local couples planning their wedding celebrations in this area. Carmel Fields by Wedgewood Weddings is tucked into the rolling hills and cliffs of Carmel, and this venue has a maximum capacity of up to 270 seated guests,in a variety of event spaces including banquet rooms and outdoor ceremony spots in the beaches, the gardens, or indoors. Featuring endless vistas of the surrounding Monterey area as well as an indoor reception room with opulent chandeliers and bistro lights, Carmel Fields is a fantastic choice of local venue.
Address : 4860 Carmel Valley Rd, Carmel-By-The-Sea, CA 93923
Phone : 866-966-3009
Facebook : Carmel Fields by Wedgewood Weddings
Instagram : Carmel Fields by Wedgewood Weddings
Contact : Carmel Fields by Wedgewood Weddings
When it comes to wedding ceremonies and receptions, few local venues can provide a space as elegant and convenient as Rio Grill Restaurant. Rio Grill Restaurant has an indoor event space that has been providing a setting for wedding celebrations for over 30 years, and today, this restaurant can provide incredible in-house catering and beverage services for wedding receptions. Event rooms at the Rio Grill restaurant include the Barrel Room for up to 28 seated guests, the Santa Fe Room for up to 45 seated guests, or a combination of the two for a party of up to 75 seated guests. This all means that the Rio Grill Restaurant is a great choice of event space for small to medium sized gatherings of close family and friends.
Address : 101 The, Crossroads Blvd, Carmel-By-The-Sea, CA 93923
Phone : 831-625-5436
Facebook : Rio Grill Restaurant
Instagram : Rio Grill Restaurant
Contact : Rio Grill Restaurant
The Sunset Cultural Center is a luxurious wedding venue that also serves as a music, theater, dance, and live event venue for artistic experiences for Carmel locals and visitors alike. The indoor space is matched by the outdoor garden space, which can make for a lovely ceremony held under the setting sun. Clients can work with outside vendors when planning a wedding party at the Sunset Cultural Center, with the event space simply serving as an elegant backdrop upon which the happy couple can exercise personal artistic control.
Address : San Carlos St at 9th Ave Carmel, CA 93921
Phone : 831-620-2048
Facebook : Sunset Cultural Center
Instagram : Sunset Cultural Center
Contact : Sunset Cultural Center
For a wedding celebration of supreme natural beauty, La Playa Carmel is a wedding venue that simply must be seen. La Playa Carmel offers on-site accommodations, with 75 guest rooms that can easily house a large collection of out-of-town guests hoping to stick around for a wedding weekend. Conveniently located just a few minutes outside of Monterey, La Playa Carmel offers in-house catering from a team of incredible on-site chefs, architecture dating back to 1905 with Spanish features, beautiful floral garden, and wedding ceremony and reception sites including the Courtyard, the Pacific Room & Terrace, the Garden Room, the Fireside Room, and the Patio.
Address : Camino Real at Eighth Ave. Carmel, CA 93921
Phone : 800-582-8900
Facebook : La Playa Carmel
Instagram : La Playa Carmel
Contact : La Playa Carmel
L’Auberge Carmel is one of the premier wedding venues to be found in the local area, with a stunning set of event spaces that can host wedding parties of total romance. In-houe catering is provided for parties by an Executive Chef and an Executive Pastry Chef who offer years of experience and the ability to customize menus while still preparing truly high-end dining experiences. Up to 20 guest rooms can be reserved for a large block of out-of-town guests, with room for up to 60 all told. The indoor restaurant is a great spot for a small reception, and the outdoor property can be set aside for a lovely ceremony held under the wide open California skies.
Address : Monte Verde at Seventh Carmel, CA 93921
Phone : 831-624-8578
Facebook : L'Auberge Carmel
Instagram : L'Auberge Carmel
Contact : L'Auberge Carmel
IMAGES
VIDEO
COMMENTS
Download the wedding venue business plan template (including a customizable financial model) to your computer here <- Financial Highlights LV Wedding Hall is seeking $500,000 in debt financing to launch its wedding venue business. The funding will be dedicated towards securing and renovating the hall and purchasing equipment.
Check out this fictitious example of a wedding venue business plan for the Azalea Gardens Farm. Even though this is focused on barn weddings, you can adapt it easily to your own outstanding event space. Remember to flesh out each section in your complete business plan, adding numerous details as appropriate. 1. Mission statement
Sample Income Statement for a Startup Wedding Venue Business Balance Sheet Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include: Assets: All of the things you own (including cash). Liabilities: This is what you owe against your company's assets, such as accounts payable or loans.
In your company analysis, you will detail the type of wedding venue business you are operating. For example, you might operate one of the following types: Banquet hall: this type of wedding venue is typically a one-stop-shop for weddings, and may offer catering and other services in house.
Event Venue Business Plan Sample & Template Below are links to each section of a sample plan that can be used as a template for your own plan: 1. Executive Summary 2. Company Overview 3. Industry Analysis 4. Customer Analysis 5. Competitive Analysis 6. Marketing Plan 7. Operations Plan 8. Management Team 9. Financial Plan
Wedding Venue Business Plan Example Below are links to each of the key sections of a sample wedding venue business plan: Executive Summary - The Executive Summary sets the tone for your business plan by providing a brief overview of the wedding venue and its services.
Wedding Venue Business Plan Sample FIELD, HALL AND BARN WEDDING VENUE BUSINESS PLAN GUIDE The wedding venue industry is one which has witnessed appreciable growth over the years. However, this has not been without its own challenges as you get to take the sole responsibility when things go wrong.
and the price), and Growthink's Ultimate Wedding Venue Business Plan Template automatically builds your 5-year Income Statement, Balance Sheet and ... Sample from Growthink's Ultimate Wedding Venue Business Plan Template: [Company Name], located at [insert location here] is a brand-new venue specializing in weddings ...
Wedding Venue Business Plan Document in Word Our ready-made Wedding Venue business plan template is in Word format and includes 22 pages. The document is divided into multiple sections. Each section contains the essential points that are necessary to effectively present your Wedding Venue project.
professional business plan with automated financial forecasts. You can also do: 200+ Sample business plans Get access to hundreds of sample business plans covering almost all industries to kick start your business plan writing. This helps you to get an idea how the perfect business plan should look like. View Sample Business Plans Step-By-Step ...
The keys to our success are as follows: Service our clients' needs promptly and efficiently. Maintain an excellent working relationships with vendors such as florists, hair salons and bridal shops. Maintain a professional image at all times. Next: Company Summary Start your own business plan Start planning
A Sample Wedding Planning Business Plan Template Table of Content 1. Industry Overview 2. Executive Summary 3. Our Products and Services 4. Our Mission and Vision Statement 5. Job Roles and Responsibilities 6. SWOT Analysis 7. MARKET ANALYSIS 8. Our Target Market 9. SALES AND MARKETING STRATEGY 10. Sales Forecast 11.
Wedding Venue Business Plan Outline This is the standard wedding venue business plan outline which will cover all important sections that you should include in your business plan. Executive Summary Customer Focus Success Factors Financial Summary 3 Year profit forecast Company Summary History Startup Summary Startup cost Products and Services
1. Do some initial research. This is one of the most crucial steps to writing an event venue business plan. Before you list your event space, you need to envision how its potential uses as well as the neighborhood, your target market, etc. Overall, you should be spending lots of time understanding your product, how it fits into the larger ...
The most important part of any wedding and event venue business plan is planning the feasibility of the business and that has been done by Daniel. It has been noted in the feasibility report that the business is not only feasible but will also be very successful if started and executed the right way. Step2: Developing a Brand
If you are planning to start a new event venue business, the first thing you will need is a business plan. Use our sample Divine Space - Event Venue Business Plan created using upmetrics business plan software to start writing your business plan in no time.. Before you start writing your business plan for your new event venue business, spend as much time as you can reading through some ...
professional Wedding Venue business plan that allows you to raise capital and build a strategically sound business. 100,000+ Satisfied Buyers "Your Business Planning Template has been the single most valuable tool for helping me think more critically and strategically. So thank you." Michael Saletta
San Francisco is full of venue choices. You might choose an outdoor setting for your event, or a formal setting in a hotel or convention center. There are dozens of hotels that can accommodate groups ranging from 50 to 5,000 people, and the city's outdoor settings that can also provide not only an interesting venue for your event but also a ...
Wedding Planning Venues & Event Spaces Party & Event Planning. 525 Crespi Dr "Wonderful venue for a wedding. ... This is a review for a venues & event spaces business in Daly City, CA: "We chose this venue for our daughters bday and we were so impressed.. Shay ( the event coordinator and who oversees the venue) is an amazing person to work with.
Reviews on Wedding Ceremony Venues in San Francisco, CA - Presidio Officers' Club, The Green Room, Dominic's at Oyster Point, Conservatory of Flowers, Presidio Chapel, The Box SF, Golden Gate Club at the Presidio, Marigold Event Space, Trocadero Clubhouse, Forest Hill Association
When it comes to wedding ceremonies and receptions, few local venues can provide a space as elegant and convenient as Rio Grill Restaurant. Rio Grill Restaurant has an indoor event space that has been providing a setting for wedding celebrations for over 30 years, and today, this restaurant can provide incredible in-house catering and beverage services for wedding receptions.