Organizing a wedding can be an exciting, confusing, and all-around stressful experience. Everyone wants to have an unforgettable wedding ceremony that their guests will remember for a long time. Meanwhile, a few others are working around the clock to bring the couple’s fantasy wedding to life. Wedding planning is one of the greatest and most stressful occupations in the event business. From a small-scale celebration to an extravagant destination wedding, Indian weddings come in many shapes and sizes. As a result, there is a huge demand for wedding plan business in India. This article guides you on how to start a wedding planning business in India.
Scope of Wedding Planning Business in India
- Every day, at least 2,000 marriages take place in India, ranging from small and private to large and lavish.
- Over one million weddings were held in India in the past year alone, according to Mazhar Nadiadwala, general director of Dome India, an event management organization.
- The rituals might range from a few hours to up to five days.
- Hosting costs range from a few thousand rupees to more than a million rupees.
- Wedding planning is a recession-proof sector since the number of potential brides and grooms is on the rise.
What do you do in the wedding planning business in India?
Everything from the initial ceremony till the bride and groom leave for their honeymoon must be arranged by a full-stack wedding planner.
A full-service wedding planner is responsible for nearly every aspect of the event, from the initial planning stages through its conclusion.
Planning a wedding includes everything from decorations and cuisine to transportation, pick-up and drop-off arrangements, venue selection dance choreography music, and beauticians.
Procedure to start wedding planning business
Consider Your Business Name and Company Formation Type:
The first step in figuring out How To Start A Wedding Planning Business entails thinking about your business name and the type of firm or service you want to offer.
Couples with varying financial means can choose and select from a variety of packages to meet their specific requirements.
Hence, to start the business of wedding planning in India, you must have company formation to legally comply with rules and also become a trustworthy business for your clients.
Have a Business Plan
Having a well-thought-out business plan is the best approach to ensure your company’s long-term success. This involves deciding on a business name, managing finances, establishing long and short-term goals, and identifying a target audience.
Business Plan will also help you in getting a small business loan to meet your funding requirements. Furthermore, you should consider the ways of marketing and protect your branding through Trademark Registration.
Lastly, your business plan should also include steps to overcome competition. For example, using ISO Certification, Logo Registration and digital marketing are the ways to stay one step ahead of your rivals.
Gain knowledge
It’s critical to provide excellent customer service and have a strong professional network. You should work with a team and go through the entire procedure before beginning a business. To be successful in this line of work, you’ll need some prior experience in a related field.
Hire manpower
A large-scale event might net you between ten and fifteen percent of your overall spending. As a result, it is crucial to maintain track of your earnings to understand how your firm is progressing and what adjustments, if any, need to be made to increase profitability. So, you can avail and other staff to manage your business effectively. You will also need to have bookkeeping and accounting services in place.
Tax Registration
Creating a legal and tax-related framework for your firm is an important step. Hence, you must have GST Registration for your wedding planning business, and also must do GST Return Filing and ITR Filing on time. Timely completing compliances ensures the legality of your business and helps you avoid penalties and punishments.
Marketing
At this point, it’s time to start marketing your events to get the word out about them. In this industry, nothing beats the power of personal referrals.
Your best friends are Instagram and Facebook pages, so use them wisely. It would also be beneficial to have website development.
Summary
Wedding planning isn’t rocket science, but if you’re willing to put in the time and effort, you can get off to a good start. However, the steps to starting a wedding planning business can be time-consuming and require much effort. Hence, if you need any assistance, feel free to contact our business advisors through our website.
Moreover, If you want any other guidance relating to Company Formation. Please feel free to talk to our business advisors at 8881-069-069.
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