Are you about starting a wedding consulting company? If YES, here is a complete sample wedding consulting business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a wedding consulting company. We also took it further by analyzing and drafting a sample wedding consulting marketing plan template backed up by actionable guerrilla marketing ideas for wedding consulting companies. So let’s proceed to the business planning section.
Table of Content
- 1 Why Start a Wedding Consulting Firm?
- 2 Wedding Consulting Firm Business Plan – Executive Summary
- 3 Wedding Consulting Firm Business Plan – SWOT Analysis
- 4 Wedding Consulting Firm Business Plan – MARKET ANALYSIS
- 5 Wedding Consulting Firm Business Plan – SALES AND MARKETING STRATEGY
- 6 Wedding Consulting Firm Business Plan – Publicity and Advertising Strategy
- 7 Wedding Consulting Firm Business Plan – Financial Projections and Costing
- 8 WEDDING CONSULTING BUSINESS GROWTH: Sustainability and Expansion Strategy
Why Start a Wedding Consulting Firm?
Are you interested in starting a cool business that will earn you good money? Do you have good organizing and consulting skills? Do you have what it takes to give advice and execute wedding plans? If your answer is yes to these three questions, then you might consider starting a wedding consulting firm. A wedding consulting firm which is also called a wedding planning company; either assists the bride and groom to plan every detail of a wedding or simply helps with isolated tasks as directed by the couple.
It is not too expensive to start a wedding consulting firm except for the money required to rent and furnish an office space and perhaps acquire relevant event planning software apps. One good thing about the wedding consulting business is that it can be combined with other event planning or consulting related businesses.
So, if you have decided to start a wedding consulting firm, then you should ensure that you carry out feasibility studies and also market survey. Business plan is yet another very important business document that you should not take for granted when launching your own business.
Below is a sample wedding consulting firm business plan template that can help you to successfully write your own with little or no difficulty.
A Sample Wedding Planning Company Business Plan Template
- Industry Overview
Wedding consulting or wedding planning as it is popularly called organize and design marriage ceremonies and receptions. A wedding consultant assists the bride and groom with everything from a timeline to the choice of flowers, wedding location, musicians, caterers, even the cut of the groom’s tuxedo.
The wedding consultant is not only responsible for making sure all the details of the wedding ceremony pan out as expected, but also for absorbing the stress of planning so that the bride and groom can enjoy the experience of getting married.
A wedding consultant 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 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 a lot of developed countries. Statistics has it that in the United States of America alone, there are about 39,643 registered and licensed wedding consulting firms/wedding planning companies 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 are no establishments 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 distributed proportionally 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 establishments outpace the proportion of population located in the region.
One thing is certain about starting a wedding consulting firm, 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.
Wedding Consulting Firm Business Plan – Executive Summary
Diana Washington® Wedding Consulting Firm, LLC is a licensed professional wedding consulting firm that will be based in Colorado Boulevard, Pasadena – California. We have been able to secure a standard office facility in a business district in the heart of the city.
Diana Washington® Wedding Consulting Firm, LLC is well trained and equipped to execute wedding consulting services 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, etc for our clients. 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 well.
Diana Washington® Wedding Consulting Firm, LLC is a client-focused and result driven wedding consulting firm 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 standard wedding consulting services to all to our clients.
We will ensure that we work hard to meet and surpass our clients’ expectations whenever they contract their wedding related issues to us. We will ensure that we hire professionals who are well experienced in the Wedding Planners industry cum event planning industry.
Diana Washington® Wedding Consulting Firm, 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.
Our plan is to position the business to become the leading brand in the professional wedding planners’ line of business in the whole of Pasadena – California, and also to be amongst the top 10 wedding consulting firms 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 Pasadena – California is the right place to launch our wedding planner company before spreading to other parts of the United States.
Diana Washington® Wedding Consulting Firm, LLC is a private registered business that is owned by Mrs. Diana Washington and her immediate family members. Mrs. Diana Washington has over 15 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 professionals to help build Diana Washington® Wedding Consulting Firm, LLC to become a top brand in the Wedding Planners industry.
- Our Services Offering
Diana Washington® Wedding Consulting Firm, 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 consulting firm 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
Our Vision Statement
Our vision is to become the number one wedding consulting firm in the whole of Pasadena – California, United States of America. Our vision reflects our values: integrity, service, excellence and teamwork.
- Our Mission Statement
Our mission is to provide professional, trusted and result oriented wedding consulting services that assist couples and their families to organize and host seamless wedding ceremonies.
- Our Business Structure
Typically, we would have settled for two or three full – time staff members, but as part of our plan to build a standard professional wedding consulting firm in Pasadena – California, 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 consulting firm 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 Pasadena – California.
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 our stakeholders. 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
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.
- Generates, connects, 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
- Accountable for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Wedding/Event Planning Consultant
- 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
- Proposes ideas to improve provided services and wedding event quality
- Organizes facilities and manage 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
- Specifies staff requirements and coordinate their activities
- Cooperates with marketing and PR to promote and publicize wedding event as requested by our client
- Proactively handles any arising issues and troubleshoot any emerging problems on the wedding event day
- Conducts pre- and post – wedding event evaluations and report on outcomes
- Researches market, identify wedding event opportunities and generate interest
Admin and HR Manager
- 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
- 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 business
- Documents all customer contact and information
- Helps to increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- creates 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
- Distribute mails in the organization
- Handles any other duties as assigned by the line manager
Wedding Consulting Firm Business Plan – SWOT Analysis
Diana Washington® Wedding Consulting Firm, LLC engaged the services of a professional in the area of business consulting and structuring to assist the firm in building a reputable and result oriented wedding consulting firm that can favorably compete in the highly competitive wedding planning industry.
We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.
This is the summary of the SWOT analysis that was conducted for Diana Washington® Wedding Consulting Firm, LLC;
Our core strength lies in the power of our team. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in Wedding Planning. Aside from the synergy that exists in our carefully selected team members and our strong online presence, Diana Washington® Wedding Consulting Firm, LLC is well positioned in a city with the right demography and we know we will attract loads of clients from the first day we open our doors for business.
As a new wedding consulting firm in Pasadena – California, 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.
The opportunities available in the Wedding Planners industry is massive considering the number of wedding and other events that take place on a daily basis in the United States. As a standard and licensed wedding consulting firm, we are ready to take advantage of any opportunities that come our way.
Some of the threats that we are likely going to face as a wedding consulting firm operating in the United States of America are unfavorable government policies, the arrival of a competitor within our location of operation and global economic downturn which usually affects spending and 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.
Wedding Consulting Firm Business Plan – 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 increase in demand 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 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. In the United States for example, there several vendors providing mobile apps with more wedding cum event planners patronizing the apps.
Increased internet usage has made wedding consultants more accessible to clients, decreasing the industry’s marketing costs and boosting profit margins. These trends will offset the impact on the industry by changing social norms that have led couples to postpone marriage longer.
- Our Target Market
Despite the fact that Diana Washington® Wedding Consulting Firm, LLC will initially serve clients within the location where our business is, but that does not in any way stop us from growing to compete with the leading professional wedding consulting firms in the United States.
As a standard and licensed wedding consulting firm, Diana Washington® Wedding Consulting Firm, 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.
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.
Here is a list of the people that we have specifically designed our products and services for;
- About to wed couples
- Celebrities and public figures who are still singles and are getting set to wed
Our Competitive Advantage
It is a known fact that the Wedding Planners industry is a very prolific and highly competitive industry. Clients will only hire your services if they know that you can help them organize their weddings.
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 at all times.
Diana Washington® Wedding Consulting Firm, LLC might be a new wedding consulting firm in the Wedding Planners industry, but the management team and the owner of the business are considered gurus in the industry, and they have what it takes to grow a business within the shortest time possible. 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 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.
Wedding Consulting Firm Business Plan – SALES AND MARKETING STRATEGY
It is a known fact that there are stiff competitions amongst wedding consulting firms in the United States of America, hence we have been able to hire some of the best business developers 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 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.
Our goal is to grow our wedding consulting firm to become one of the top 10 wedding consulting firms in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Pasadena – California, but also in other cities in the United States of America.
Diana Washington® Wedding Consulting Firm, 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 and around Pasadena – California
- Advertise our business in relevant business magazines, newspapers, TV and radio stations
- 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 consulting 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
Sources of Income
Diana Washington® Wedding Consulting Firm, 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.
Diana Washington® Wedding Consulting Firm, LLC will generate income by offering the following services to our clients;
- 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
One thing is certain, there would always be about to wed couples who would always need the services for professional wedding consulting firms and as such the services of professional wedding planners will always be needed.
We are well positioned to take on the available market in Pasadena – California 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 profits from the first six months of operation and grow the business and our clientele base beyond Pasadena to other cities in California.
We have been able to critically examine the professional wedding consulting market space, 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 Pasadena – California.
Below are the sales projections for Diana Washington® Wedding Consulting Firm, LLC, it is based on the location of our business and the wide range of wedding consulting services that we will be offering;
- First Fiscal Year: $200,000
- Second Fiscal Year: $450,000
- Third Fiscal Year: $950,000
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown 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.
- Our Pricing Strategy
Just like in consulting business, hourly billing for wedding consulting services is a long – time tradition in the industry. However, for some types of wedding consulting services, flat fees make more sense because they allow clients to better predict the overall service charges. As a result of this, Diana Washington® Wedding Consulting Firm, LLC will charge our clients both flat fee and hourly billing as long as it favors both parties.
At Diana Washington® Wedding Consulting Firm, LLC we will keep our fees below the average market rate by keeping our overhead low and by collecting payment in advance.
- Payment Options
The payment policy adopted by Diana Washington® Wedding Consulting Firm, 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 Diana Washington® Wedding Consulting Firm, 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 consulting 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 services.
Wedding Consulting Firm Business Plan – 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 Diana Washington® Wedding Consulting Firm, 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 billboards in strategic locations all around Pasadena – California
- Engage in roadshows from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- List our professional wedding consulting firm in local directories
- Advertise our professional wedding consulting firm 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 logo
Wedding Consulting Firm Business Plan – Financial Projections and Costing
Starting a professional wedding consulting firm can be cost effective 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, furnish and equip the office, purchase the required software applications, 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 consulting firm in the United States of America;
- Business incorporating fees in the United States of America will cost – $750
- The budget for liability insurance, permits and license will cost – $3,500
- 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
- Equipping the office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
- 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 consulting firm 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 Startup Capital for Diana Washington® Wedding Consulting Firm, LLC
Diana Washington® Wedding Consulting Firm, LLC is a partnership business that will be owned by Mrs. Diana Washington and her immediate family members. They are the sole financiers of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings and sale of his stocks
- Generate part of the startup 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 documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
WEDDING CONSULTING BUSINESS GROWTH: Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting Diana Washington® Wedding Consulting Firm, 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 consulting 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.
Diana Washington® Wedding Consulting Firm, 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 retraining of our workforce is at the top burner of our business strategy.
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.
- 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 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 startup 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 software apps, furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating awareness for the business in Pasadena – California: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries: In Progress
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