How to Start a Wedding Planning Business in India?

Are you thinking of having your own wedding planning business in India? An exciting venture like planning a wedding can be a great idea to thrive in this industry. While starting a business like this may look fun, executing this idea may require expertise. With our years of experience in helping entrepreneurs start their own business, we have got this comprehensive guide just for you.

Why an Indian Wedding Industry?

Weddings in India are an emotion with a massive market size. From grand celebrations to intimate happenings, moments of cultures and tradition cannot be ignored. With over 1 crore weddings happening every year, it is the fourth largest industry in India.

Before you invest your money into this business, you should know that you are entering an industry which is diverse. This gives a privilege to develop a business plan that combines personalisation and market trends. From destination weddings events to cultural theme decorations, it is becoming an evolving industry.

Key Market Factors:

• As weddings are becoming a part of the economic growth in the country, around 68% of people are supposed to get married in the next few years.
• Known for its lavishness, people in India spend a large portion of their savings on weddings.
• Being a multi-billion dollar industry, it holds an ideal opportunity for entrepreneurs to create a 1000Cr business.
• Many people prefer destination weddings with customized decorations and events. There it comes the role of wedding planners to bring innovation.
• With the rising demand for high-end wedding services, there’s a market for dreamy wedding attire, aesthetic photography and luxurious venues.

Knowing the Services to Offer

From minimal decor to a full-fledged wedding event, a wedding planner can do wonders. Before you start with the legal formalities and registration process, you must plan the services you will be offering as a wedding planning business. You can offer services like wedding decor, photography, wedding film shoot, choreography, catering, venue accommodations and entertainment.

Key Points to Develop a Business Plan

• Market analysis: The wedding planning business is projected to reach $95 by the year 2030. When thinking of starting your own business in the wedding planning industry, it is crucial to know your competitors, potential challenges faced by them and your target audience.

• Revenue model: Research the financial projection to understand business expenses. You can also seek some professional advice or business mentorship. Wedding planning businesses make money through services, commission and overall cost percentage business.

• Marketing strategy: A well-defined marketing strategy can help you drive leads, market your services, networking with the wedding vendors and positioning your brand.

• Finding your USP: There are so many wedding planners in the country, how will you stand out? It is crucial to make sure to create some unique offers or have some classic venues.

Initial Investment: Startup Cost

A wedding business may not cost you all your lifetime earnings. You can start with just little investment as the earnings may depend on the services. The initial investment in a wedding planning business, entirely depends on the services you offer, location, and scale of your business.

• Business Registration and Legal Formalities: A catchy name and legal formalities are a must in a wedding business. Before you dive into planning a wedding, you need to shift your attention to registering your business, applying for GST and obtaining a license. It may cost around Rs5,000 - Rs15,000 (sole proprietorship); Rs15,000 - Rs25,000 (private limited company). A GST registration may be included in this.
• Office Setup and Infrastructure: A basic infrastructure is necessary for any wedding planning business. If you rent an office, the cost may depend on the location and area. You can also choose a home office that may save up your money for the initial years of your business. Additionally, a website development may cost Rs10,000 - Rs30,000, depending on the complexity.
• Marketing and Branding: You may need a marketing plan to position your brand. Business cards and marketing materials may cost you around Rs 5,000 - 15,000. Social media marketing and online advertising can be around Rs10,000 or more per month.
• Networking and Vendor Partnerships: A wedding planning is incomplete without a proper team. You will require to attend a few networking events. A vendor agreement may cost you Rs5,000 - Rs20,000.
• Miscellaneous Costs: Any other cost like travelling and skill development that may be required in your business setup will be around Rs30,000.

Step by Step Guide to Build a Wedding Planning Business
Weddings in India continue to become more extravagant with massive celebrations, leading to economic growth. After you get an idea of the wedding business and its market, follow this step by step guide to build your business.

1. Understand the market: Start with understanding your target market around the location you will be establishing your business in. Identify your target audience, potential clients and their preferences. Are people opting for a traditional wedding, destination wedding or a typical big fat Indian wedding? Don’t miss out on what your competitors are doing. What are the services they are offering and what is that you can do differently. Understand the various cultures and customs in Indian weddings.
2. Build your skills: Any business requires relevant skills and expertise, in particular a business like wedding planning may require organizational skills with a creative aspect. If you lack any of the expertise, skills or experience in this industry, you may need to learn the necessary.

3. Make a business plan: A strong plan directs you and motivates you towards your goal. It's unavoidable to move ahead without knowing your why. A brief overview of your goal, pricing strategy, investment plans, services, financial planning, team members, and marketing strategy may help you sustain in the long run.

4. Register your business: As discussed, registering your business according to the type of business and having a license to operate is imperative. You can decide a catchy name for your business and register for GST.

5. Set up your business: Build a website that may highlight your services, contact information and portfolio. You will also require a business bank account for the finances. To market your business, a social media presence would be necessary. This will help you meet your potential clients.

6. Offer your services: It’s time to start delivering your services to your clients. You can simply start by working on a low budget wedding. This helps you get recognition, build a portfolio and references.

Pro tip:

• Gain experience: Consider taking a relevant experience by working with a wedding planning company. You will get hands-on experience on wedding planning, idea of venues, budgeting, vendor management and services offered.
• Formal courses: It is not imperative to go for a formal education for a wedding planning business. However, to understand some nuances or excel some skills, you can consider enrolling for a course. There are several courses available on wedding schools and Udemy. There’s a 6 months and 3 months certification program in wedding planning offered by IIEM Delhi. Usually the fees of these courses depend on the type of the program and the institution.

Key Consideration:

• Offer a stress-free service: A survey by Zola says 52% people find wedding planning a stressful task. Another report says that 59% believe that planning a wedding is overwhelming. To avoid your clients feeling stressed, offer them a stress-free and hassle-free service.
• Market your business: A report by HubSpot, 63% and 43% of marketers respectively say that social media and email drive the highest ROI of all marketing channels. You can create a team of digital marketers or simply seek mentorship to master the idea of marketing.
• Keep realistic goals: Setting unrealistic goals at the beginning of your startup may end up in trouble. Make a small yet achievable target for your business.

70% of brides and grooms now contribute financially, spending on meaningful experiences services like premium outfits, professional photography, and custom engagement rings.

Are you ready to start your wedding planning business and take it to the next level? This is the ultimate guide that can help you build your business that drives growth.