What You Will Learn in this Guide
- 1 Nitty-Gritty of Wedding Planning Business Plan In Nigeria
- 2 Why Is a Wedding Planning Business Plan so Important?
- 3 Wedding Planning Business Plan Template
- 4 Conclusion
Nitty-Gritty of Wedding Planning Business Plan In Nigeria
Several occurrences of a failed wedding planning business in Nigeria can be attributed to incompetence of the planner or lack of having a well designed wedding planning business plan in place.
Most people who are into wedding planning business in Nigeria are usually confronted with none payment. And findings show that clients fail to pay them as the outcome of their wedding events is disappointing.
Where there is no provision in place for an unplanned or unforeseen occurrence during the planning, there is no way the wedding planner won’t disappoint his clients.
As a result of this, many wedding planners have lost big contracts while they have a lot of debs or damages to pay their customers.
Against this problem, you must have a wedding planning business plan in place in order to achieve your objectives. This article will walk you through how to create a perfect wedding planning business plan in Nigeria for your next contract.
But first of all, let’s quickly look at the importance of having a business plan for your wedding planning venture in Nigeria.
Why Is a Wedding Planning Business Plan so Important?
Based on the seriousness a wedding planning business demands, a business plan enables you to be more committed to the contract.
Oftentimes, clients might not have enough money for their demands, then the business plan can help you to invest more time to source for alternatives that will match up with what the clients can afford.
For the organiser to have a glimpse of what the event would look like, the plan must be able to reflect what you intend to present and that can create a room for reviews in case your plan doesn’t suit the taste of your clients.
Also, the wedding planning business plan helps the event planner to develop a business idea. While deliberating on the type of wedding to plan, creating a business plan gives room for inquisitiveness and research, and this can go a long way in producing a new and unique wedding.
A wedding business plan also makes you accountable. It helps you easily checkmate cheques and balances.
Many Nigerian wedding planners are not conscious of the fact that the pricings for some services and products required for a wedding usually fluctuates due to the unstable Nigerian economy. Hence, a wedding planner needs a business plan to work with so that the money available can work for the wedding by improvising for services with other services where necessary.
Furthermore, a business plan helps you to be prepared for various uncertainties. Various things can try to subdue the wedding plan such as a misunderstanding between families or unavailability of money to cater for the event.
The business plan trashes out all the uncertainties because the blueprint of the event would be tabled out and there would be a checkmate between order of programme and items needed, those available and those that are yet to be available.
Lastly, a wedding planning business plan gives you an insight into what amount of money would be needed to start with.
Rather than starting on the things of less importance, a wedding planning business plan can also help you to start based on priority and that will give you a precise amount of what all the costs may be.
Wedding Planning Business Plan Template
For your wedding planning business to be successful, you need a template to guide you on the overall activities and purchases. As a Nigerian wedding planner, here is a perfect planning template for your business.
Prepare a Cover Page
A cover page contains necessary details of the event and your company. Make sure to include the name of the wedding to be planned. For instance, you can add the name of the couple and the year. Then include the details of your company such as your company name, address, phone number, email address and/or fax. Do this accordingly with the right business text, font size and spacing.
This page is a confidential agreement between you and your client. To avoid unnecessary disagreements in the future, the client has to read through the terms and conditions of your business and sign an undertaken to comply with your plans according to the budget agreed on. The budget should be stated and the information in it should be highly confidential. To affirm to the stated terms, a space should be slotted for signature and date.
Table of Content
This includes a list of the content of the plan. Below is a list to guide you with a constructive plan for a wedding:
- Executive Summary
- Summary of the Company
- Strategies and Implementation
- Financial Plan
Each item on the table of content should contain substantial points to back each plan up. Here is what the item 1-7 entails.
This section contains an overview of the whole business plan. Ensure to make use of well explanatory words and add the topic of the wedding plan.
Summary of the Company
This section contains every detail of your company. Describe who you operate as in your wedding planning company in order to give a formal description of yourself. Don’t forget to add your achievements and a brief summary of your company’s achievements and awards received on planning several weddings. This will make your clients endeavor to find you more trustworthy and easy to work with. Then, summarize in tables, charts and figures, all you might need to process the wedding plan including expenses and assets.
Give a well-defined detail of the services you offer which might be useful for the wedding. Some wedding planners also offer catering services or decoration services which would, most likely, be at discounted rates. Drop the list and make a brief proposal that explains why you need to be preferred among others.
Strategies and Implementation
Use this medium to summarize how your plans can be carried out. Categorize various activities under departments. In this section, also identify risks that may come from any angle or department as the case may be and give adequate solutions to those problems.
Don’t forget to include the type of team you would work with and their capabilities in ensuring a successful wedding.
Outline the financial details of the event and how much you intend paying every company or body working with you in various departments.
Write out a summary of the idea you have of the wedding and why you have to work with your business partners. Give a precise amount of the total costs and necessary means by which the needs can be met. Outline necessary suggestions to avoid exceeding the budget and why you should be considered. Finally, give a sample wedding you have planned that tallies with the new wedding to be planned and how you made it worthwhile.
Nigerians deserve the best weddings irrespective of the budget and simplicity or extravagance. This is a resourceful template that can guide you in effectively producing a compelling wedding planning business plan in Nigeria. Be precise and straightforward while designing your business plan and make sure you follow the plan strictly. Otherwise, the business could be affected.