You want to start a wedding planning business, but do not know how much money you need to watch? To calculate costs, you need to know what you need to buy. Here is a list of expenses you may incur. Actual costs will be determined by such things as fees related to starting a business in your area, as well as office equipment and accessories that you already have, and you don’t need to buy them.
Administrative costs
Bank charges
You will pay a monthly fee for the current account, and you will need to purchase checks.
Business insurance
Talk to an insurance broker or agent to find out how much it will cost you to get liability insurance for your business.
Business license
Contact your local government office to find out the cost of a business license in your area. If you work outside your home, you may need additional fees that you will need to pay to your city government.
Company name registration
County government agencies charge you for registering your business name. Contact your county office for prices.
Professional Services
You will need to talk with an accountant or lawyer to decide on the best venture for your business. They can tell you about additional fees if you decide to become or form an LLC.
Office space and furniture
Space
Office space can be rented in a commercial building or you can simply work from your home. If you decide to have a home office, when you first start your business, like many people, you do not have to pay rent, and you can get some taxes off. Contact your accountant for information.
Furniture
If your office is located in your home or in a rented location, you will need a table, chair, printer stand or table, storage cabinets and shelves. For your home you can get away with less furniture if you also have space for cupboards with shelves.
Technologies
a computer
You will need a computer that you can devote to your business. You should be able to keep confidential customer information, and you do not want someone to accidentally delete your documents.
Software
When purchasing software that allows you to write documents, save a calendar, and create a spreadsheet, most wedding planners use Microsoft Office. You can also get accounting software such as QuickBooks. If you intend to create or update your website, you will need a web design program. There is also special software for wedding and event planners that needs to be used when planning events.
Printer
You want to be able to print documents and sometimes some marketing materials. There are laser and inkjet printers. Before buying a printer, check the cost of replacing ink cartridges. An inexpensive printer can have very expensive cartridges.
Internet service
High-speed Internet access from a telephone company or a cable company is best, as you will be researching locations and providers on the Internet and want to do it quickly.
Telephone line with voice mail
It’s best to have a land line for your business. Many people use cell phones, but reception is not always reliable. Dropped calls will make it difficult to work with you. Also, get voicemail for your line and record a professional business greeting for people to hear when you are away.
Cellular telephone
Get a mobile phone for access when you are out of the office at weddings.
Fax
Contracts need signatures and are usually faxed between suppliers and customers, so it is helpful to have an actual fax machine. An alternative may be a printer, which is also a scanner and has the ability to send facsimile documents.
marketing
Web site
You must have an online presence. You will need to pay for web designer services if you cannot create a professional looking website. You will also need a web hosting company.
Business cards
You will need to hire a designer or create your own maps, as well as a print shop, which can be found on your local network or on the Internet. You will need professional business cards, so stay away from those that you type on your computer.
Marketing material
Some wedding planners also invest in printed brochures and other marketing materials. If you do, you will need to hire designers and printers. Again, stay away from doing them at home, not having the talent and equipment to make them look professional.
