How Much Do Wedding Planners Make: Facts And Figures
Say, you enjoyed planning and coordinating your best friend's wedding or your very own event. What more, you received positive feedback. Do you think it is a sign to start a career in the wedding industry?
Of course, you need to make an informed decision. The first thing you may need to ask is – how much do wedding planners make? In this article, we will not only answer that question. We will get into the factors that affect the money they make.
Wedding Planner Salary
On average, a wedding planner may earn $44,000 annually or $3,000 for every wedding. Then again, several factors influence how much do wedding planners make a year.
A wedding planner's salary will depend on industry experience and reputation, marketing strategy, the location of the business, and other related income streams.
Experience And Reputation In The Industry
As you start, your network in the wedding planning business might still be small. It may limit your opportunities to book clients in a year. If couples experience quality service from you, they will be referring you to friends and families. This way, your network expands, and you develop a good reputation in the industry. For some, it takes two or more years to be fully-booked with clients.
However, a newbie in wedding planning may charge more if they have extensive experience in related fields, such as floral or interior design. If you have a degree and certifications from accredited wedding planning schools, you could also come with a heftier price tag.
Your clients will have higher expectations, given your experience and education. It will translate to their willingness to pay your services well.
Marketing and branding are essentials in any business venture. Branding is the professional culture you develop within your business—work ethics, your responsiveness to clients' needs, and the way you handle competition. They define who you are as a wedding planner.
Marketing, on the other hand, is a set of strategies and tools that builds awareness among target clients. Excellent marketing strategies invite more clients to avail of your services.
Marketing tools include websites and search engine optimization (SEO), social media presence, even word-of-mouth advertising. How well you market yourself will make a significant difference in how much money you will make.
Location Of Business
Operating in the rural and urban areas affects how much do wedding coordinators make. Wedding planning businesses in popular wedding destinations are more profitable than ones in rural areas. However, the costs of trade, such as space rentals, fuel, advertising, travel, and certification costs, are higher in the metropolis.
Other Income Streams
As a wedding planner, you have direct access to the couple's preferences. Therefore, this opportunity will allow you to offer a range of other services other than wedding planning. You may provide floral services, wedding invitation design and production, event styling, honeymoon planning, and rentals of Chiavari chairs, décors, or tents.
Some couples will prefer availing your add-on services, as this reduces the number of vendors they have to deal with.
As with other businesses, how much do wedding planners make depends on hard work and strategies. Your experience, reputation, location, marketing strategies, and involvement will dictate your price tag. Starting a venture will be challenging, especially that the wedding planning industry is bustling with talents. However, you can make yourself stand out. Invest in enhancing your capabilities, and develop a good work ethic. How much you put in is how much you get out, or maybe even more.