Originally written by Ben Lobel on Small Business
So, you want to be in the wedding industry? It’s a strong sector of the economy, worth over £10 billion a year. The ‘Bridebook Wedding Report‘ estimated that the average cost of a wedding was over £30,000 and rising annually at close to 12% a year, mainly due to a focus on personalisation.
You’ll no doubt hear about how hard it is, how competitive it is, how saturated the market is. It’s true for almost every industry, though, and it doesn’t mean you can’t bring something to the wedding market through quality and effective business preparation.
The wedding business is unique; you’re asking someone to trust you with what they may deem to be the biggest day of their lives, but every wedding business has to start somewhere, so we’ve put together a plan to cover before starting a business in the wedding sector. First though, you should decide what you kind of business you want to be. Are you:
1. A whole new idea in the wedding industry?
2. Buying an existing wedding business?
3. Franchising an existing wedding business?
4. Distributing an existing wedding-oriented product not currently in the UK market?
The point of asking these questions is