For everybody, wedding is a ceremony that holds a special place in their hearts. Everybody dreams of their wedding – some want an intimate wedding, while others believe in a big fat wedding, and a few dream of a destination wedding too!
Regardless of the type of wedding, no one can deny that weddings are never ending (as long as people fall in love or get themselves arranged together for life by parents and relatives). That’s why the wedding industry is one of those few industries that are never going to face recession.
Talking about the lucrative business ideas in the industry, wedding itself is an event that requires a great deal to be planned into a successful ceremony. To make their wedding a memorable day, people look for professional wedding planners these days instead of being dependent on the elders to carry out all the arrangements themselves.
Is a Wedding Planning Business Profitable?
Traditionally, there was no such thing as wedding planning. That’s because weddings were always planned by the seniors of the family. All the arrangements ranging from applying ‘mehendi’ to managing catering services to setting the ‘pandaals’ to even dressing up the bride, everything was the responsibility of the neighbours or relatives.
In most of the Indian suburban areas, people were not aware of the concept of banquet halls or wedding venues as the weddings used to happen in their own courtyards with minimal decorations. With time, things have changed gradually and weddings have achieved a special status amongst people. The lavish weddings are becoming the status symbol for many families, and are celebrated with a great pomp and show. The different wedding trends and themes appeared out of nowhere to add up to the expectations of the society. To match up to those expectations, professional wedding planners are being appointed by the groom’s as well as from the bride’s side.
Wedding planning firms take care of things like deciding venues, carrying out the photography and videography, arranging catering services, sound systems, make-up services and every other thing related to a wedding in the given budget of their clients. They coordinate with the service vendors and arrange the weddings in the given amount to plan as best as they can. They prepare a planner that carries the layouts of the wedding theme and every other essential thing in the wedding so that they can plan out a great show.
Statistically, the global wedding industry is approximately $300 billion worth and is constantly witnessing a steady growth.
Lucrative Franchise Opportunity in Wedding Planning
Although, starting a wedding planning business doesn’t require a huge investment, with franchising you can get an added benefit. With franchising, your wedding planning firm gets an established identity and hence you can earn more revenue as compared to the independent firm.
A wedding planning franchise of an established brand can be owned in an investment of Rs 5-10 lakhs that ensures proven system in place, higher likelihood of success, corporate image and brand awareness, and an easier model to obtain financing.
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