If you are artistic, creative, have a background in decorating and love weddings, you might find a lucrative and rewarding career as wedding decorator. An average of 2.4 million weddings takes place in the United States each year, according to the National Mail Order Association. However, an eye for decor and liking for weddings isn't enough for a small business to flourish. It takes intense planning to launch a successful wedding decor start-up.
Training and Experience A wedding is one of the most important days in most people's lives, and few are willing to hire inexperienced help. Acquire the proper training and experience to function efficiently within the wedding industry. Having a significant amount of hands-on experience adds to your credibility as a professional. If you have previous experience in decorating or event planning, you're ready.
Novice wedding decorators should complete an apprenticeship with an established wedding planner or participate in decorating classes at a local community college to gain experience.
Competitor Evaluation It's crucial that you evaluate your competition before opening a wedding decor company. You need to have a good idea of what other wedding businesses in your demographic are offering, and at what price. Review websites, pamphlets, brochures and testimonials of your competitors to establish a reasonable pricing schedule and get an idea of what types of decorating services are in demand locally. Find a way to differentiate your services and stand out among competitors.
WORKSPACE OR OFFICE
Create a comfortable and functional workspace/office from which to conduct your business. The type of work facility you choose depends on the volume of business you expect to generate and the services you'll offer. Smaller wedding decor companies may operate from a home-based workspace, while larger, high-volume businesses often require a separate facility.
In either scenario, you'll need an office to receive and consult with clients, and a work area for storing and assembling wedding decorations.
SUPPLIERS
Shop around to find the most cost-effective materials and supplies to create your wedding decorations. Such items generally include fresh and artificial flowers, floral supplies, ribbons, linens, party favors, balloons and streamers, as well as numerous craft-making supplies.
Locate distributors of these items and build solid business relationships with wholesale dealers of wedding supplies.
BUSINESS AND MARKETING PLANNING
Business and marketing plans are the road maps to success. Create a business plan that includes detailed information about all facets of your start-up. Include all financial information regarding loans, investors and capital, estimated overhead expenses and future profit projections. Also include an outline of your operational procedures and target demographic. Write up a summary of how you plan to market your business. This might include social network advertising, fliers, TV or radio ads and word of mouth. Licensing and Tax ID Depending on your location and the type of workspace you choose, certain business licenses and zoning permissions may be required. Check with your state, city or county governing agencies to find out what's required in your area. Regardless of the license requirements, you must choose a legal business structure, such as a sole proprietorship, partnership or limited liability company.
Also obtain an employer identification number (EIN) from the IRS to operate legally, report your income and pay your taxes. Choose a business name related to wedding décor and apply for an EIN at IRS.gov.
INSURANCE
Before taking on your first client, be certain that all business insurance policies are active. Bonding insurance is not always necessary, but it can protect you against allegations of theft or damage to a client's property when working weddings in residential homes and rented banquet facilities. Obtain liability insurance to cover instances of breached contracts and dissatisfied customers. Personal auto insurance will not cover any damages or accidents incurred while on company time. You'll need commercial auto insurance for traveling to and from wedding sites and for the transport of flowers and decorations.
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