How to Start a Bridal Business

How to Start a Bridal Business - Background Info:

Starting your own bridal business may seem a little daunting at first. After all, you're selling items to be put to use during (what will hopefully be) once in a lifetime experiences. Make no mistake, your customers are going to be Picky, with a capital P.

Luckily, even if the market can be competitive, people are always going to be getting married. The bridal business isn't really a market that comes and goes. People are married every day, and there will always be a lot of potential customers no matter where you set up shop.

You should decide what end of the bridal business you'd like to take part in. For example, you may want to become a bridal business retailer, selling and tailoring dresses to beautiful brides to be, or you may want to put your design and sewing skills to use and create wedding dresses for customers.

There really is a wealth of opportunity in the bridal business if this is where your passion takes you.

In selecting dresses for your bridal business stock, keep an eye on fashion trends (as of the time of this writing, strapless wedding dresses seem to be in vogue, but don't count on this remaining true by the time you read this!) Keep up to date on the bridal business world.

Running a bridal business requires a bit of a passion for fashion, but keep a wide variety in stock so that your bridal business can appeal to a wide variety of customers.

If you're talented enough to create wedding dresses for your bridal business from scratch, you're looking at cutting your startup costs for your bridal business inventory in half. The bare materials of a wedding dress can cost literally hundreds of dollars less than the completed dress.

You will, of course, have to be willing to invest more time into your bridal business than you would if you simply bought your stock from bridal gown distributors, but really, this can be the true test of the extent of your dedication to your bridal business.

Something that's been in vogue lately, and looks like it's here to stay, is the custom dress bridal business. There are billions of women in the world, and every woman who wishes to marry will have her own idea of the ideal wedding. If you have the imagination and skill to pull it off, custom wedding dresses might be perfect for your bridal business.

A wedding is a very special, personal event, and many customers simply aren't willing to buy from a bridal business stationed miles and miles away.

How To Start A Bridal Business - Tasks And Skills Needed:

Business Specific Tasks:

If you are planning to do all the business tasks or hiring or subcontracting tasks, here's a list of tasks that need to be attended to when it comes to the business side of running a bridal business:

Bookkeeping

Scheduling

Advertising/Marketing/Promotion

Planning

Industry Specific Tasks:

Same as above if you plan to do everything yourself or get help, here are some of the tasks necessary to operate a bridal business:

Schedule and/or perform fittings

Assist with hair styling and other appointments

Assist with choosing colors and theme

Assist with wedding cake and food choices

Reception tasks including finding a venue

How To Start A Bridal Business - Approximate Daily Hours Needed:

General Hours of Operation: - When your business is open - If you have a retail shop, you will hold general retail hours. However, if you have a home business or operate your bridal business online, your hours will fluctuate according to tasks.

Hours Needed to Prepare - Before Opening and After Hours Activities - Return all phone calls, do scheduling, appointments, and consult with a wedding planner if one is designated, answer questions for the bride-to-be, help to set up wedding directory.

Number of Employees Needed To Run A Bridal Business:

Minimum Number of Employees -During the Start Up Phase: You can start this business yourself on a full-time basis.

Number of Employees - Once Your Business is Up and Running Successfully:

Website maintenance

Record/Bookkeeping

General office

Customer Service

Fittings

Cake creation and/or delivery

Delivery of flowers and other deliveries

Hair/nail stylist(s)

Wedding photography

Disc jockey

Skill Requirements for This Business:

Retail sales experience helpful

Ability to work with nervous people, or people who upset easily

Patience and ability to readjust schedules, etc.

Helpful, easy-going nature is desirable

High attention to detail, organization, prioritizing skills

Good financial skills

Licenses:

You will need a business license and other permits if operating a storefront. If you are operating from your home, you will need to check your local government's ordinances.

If you are a franchise, you will need to conform to all regulations and, depending on what bridal items you carry, you may be required to obtain a dealer's license.

Approximate Minimum Start up Cost:

Bare essential: - $5,000-10,000. The startup costs for setting up a small bridal business shop vary greatly from location to location and depending on your goals for your bridal business, but you probably won't need much more than a modest sized location to start your bridal business in (you can upgrade later when your bridal business really takes off) and a decent collection of dresses and other items.

Minimal exposure - If you have an impressive portfolio of work you've done, you might not have to put much into this in terms of start up costs. You can simply work out of your home and advertise in the local papers or on classified ad websites like Craigslist.org, dealing one on one with new brides to be by commission.

Discuss ideas with your bridal business clients and show them plenty of preliminary sketches of what you have in mind, and your bridal business can be funded entirely by commission, with each job paying for itself.

If you want to deal in retail, selling online can be great, but bridal business customers often prefer to be able to try things on and talk one on one with the retailer.

Necessary Equipment to A Bridal Business:

Necessary Start-Up Equipment & Supplies:

Computer

Printer

Cell phone

Website

Camera

Supplementary Equipment: - Equipment or helpful products that you can acquire to once your business is off and running:

Fitting room

Dealer's license for renting or selling wedding apparel and accessories

Photo studio

Delivery vehicle(s)

Video equipment

Monthly Expenses To Consider:

Wages
Phone/cell phone
Internet access
Permits
Advertising/Marketing
Electricity
Water

Special Requirements and Considerations A Bridal Business:

Find out all you can about the trends in the industry. Know your competition, in particular, their strengths and weaknesses. This will help you identify your competitive advantage. In other words, this will help you figure out what you can give your customers that they're not getting from the other businesses. And keep from emulating the competition's strategy. Instead, make the most of your own advantage points.
Constantly update your knowledge of wedding trends and etiquette. Read magazines to keep you abreast of the ins and outs of wedding protocol. You also need to learn about wedding and reception decorations, starting with flowers. Catch up on the latest trends on wedding attires. Take time to attend other weddings in order to learn some other great ideas that you can use in your business, as well as the big mistakes and fiascoes that you need to avoid. Attending bridal shows is also useful. Be sure to collect your ideas in a notebook.
Strive to improve your people skills. A wedding coordination business is people intensive: your success will greatly depend on how well you work well with your clients. The bride and groom, as well as their families, can be nervous about getting everything ready for the big day. You need to have the ability to maintain a cool head and possess social graces.
Establish a network of suppliers that you can rely. Research the vendors that provide food, beverages, entertainment, clothing, and supplies for weddings within your region. It is important to know who is available and what they charge, and to be acquainted with their reputations. Establish relationships with your potential suppliers and negotiate for the best possible price.
Build your portfolio of satisfied clients. The wedding consulting business is built on reputation. Potential clients will want to look at your credentials and record of accomplishment in managing and organizing weddings. To help you build a portfolio of your work, organize weddings for families and friends. Be sure to get pictures from the photographer and a recommendation from the bride.
Understand start-up expenses for a bridal boutique. Starting a bridal business can be expensive. Expect to spend about $30,000 on inventory and about $1,000 for office expenses. Plus, if you need to build displays and dressing-room areas, this can add costs of up to several thousand dollars. Check with the Small Business Association for loan options.

Pros And Cons of Opening A Bridal Business:

The Pros of Running a Bridal Business:

It is an exciting and lucrative business

Extremely easy to expand into other bridal industry niches

Can be worked in cooperation with wedding planners, florists, and banquet services

The Cons of Running a Bridal Business:

Has a tendency to be seasonal

You can deal with people with fluctuating emotions

Can be highly competitive

Type of Customers You Need to Attract:

Obviously, you are attracting brides and grooms-to-be, but remember that you can also cater your services to anniversary and other big even celebrants.

Bridal Business Statistics:

Weddings are big business. The Association of Bridal Consultants estimates that consumers spend a whopping $33 billion on their weddings every year. In 1999, the average wedding cost approximately $20,000, and many more couples spend on top of that amount.

Although it's difficult to put an exact number on how many wedding consultant businesses there are nationwide, the best guess is approximately 10,000, according to Gerard Monaghan, president of the Association of Bridal Consultants (ABC).

According to Monaghan, one out of every eight retail dollars is spent on wedding-related products and services. That makes the wedding industry a $42 billion business, although some estimates put that figure as high as $70 billion.

Also see Wedding Central and TheKnot for a variety of current reports.

Bridal Business Revenue:

The pricing of a wedding coordinator will depend on the location, nature of tasks involved and your level of expertise. Some wedding coordinators charge based on a percentage of the wedding's cost, while others charge a flat fee. Flat fees may range from 10 to 15 percent of the wedding budget. Since the average wedding using a coordinator costs about $15,000, your earnings may run from $1,500 to about $2,000.

Some others charge an hourly rate ranging from $50 to $150 per hour. According to many wedding coordinators, the average wedding takes about thirty-to-forty hours of coordinating, which ends up costing between $1,500 and $3,000.

If you work on thirty weddings in a year at an average rate of $1,500 per wedding, you can expect to earn $45,000 in a year. If you work alone on a full-time basis, you can service about 40 weddings a year, providing nine man-days per wedding.

Bridal Business Resources:

Industry-Specific Websites:

Wedding Business Today

VOWS Magazine

A Guide to the Wedding Industry

Save On Crafts

Starting a Bridal Shop Business

Courses:

How to Open a Bridal Boutique, Bridal Salon, Bridal Store or Bridal Shop (Guide Course)

Universal (online)

Bridal Business Boot Camp

Forums:

Idea Cafe

BridalTweet

Franchises:

Start Your Own Bridal Shop

Bridal Consultancy

FranchiseWorks

Bridal Franchise

Associations:

Association of Bridal Consultants (ABC)

Association of Wedding Gown Specialists

Wedding and Event Videography Association

Association for Wedding Professionals International

Books:

Amazon Listings

StyleCareer

MyMommyBiz

The Healthy Bride Fitness Business

Wedding Planner's Guide with Kit

Software:

PlanMagic

Other:

How to Become a Wedding Consultant

Free Bridal Gown Shop Business Plan

Businesses To Related to a Bridal Business:

Wedding Planning
Cake decorating and baking
Florist
Courier/Delivery
Seamstress/Clothing Designer
Hair Stylist/Nail artist
Spa owner
Reservations
Hotel/Motel
Party favor supplies