The wedding business is one of the most profitable types of entrepreneurial activity. The huge expenses incurred by the newlyweds in preparation for the wedding serve as sources of high income for other people.
Many people are eager to take a bite out of the sweet wedding cake:
- some earn on organizing a wedding,
- others in photo and video shooting,
- the third — on the sale of wedding dresses and accessories.
Having opened a wedding salon, you can safely count on a monthly income of more than one thousand dollars. A well-promoted bridal salon brings in ten to forty thousand dollars a month, and this is not the limit.
Such high profitability attracts the attention of many entrepreneurs; there is high competition in the wedding business.
Therefore, the basis for starting a business should be market research and a solid business plan.
When preparing for a wedding, most people are guided by two conflicting desires:
- be no worse than others
- to hold a wedding not so different, original and unusual.
This entails, on the one hand, the formation of certain standards in the preparation and conduct of the wedding, and, on the other hand, the need for creativity and originality. The wedding salon needs to take this into account when organizing their own business.
For a wedding salon, as for any other store, the right choice of location is very important.
The more visited area of the city the wedding salon is located, the more likely it is to achieve high profitability and large sales volumes. Very important is also the availability of convenient access roads and parking near the salon. The room itself may not be too large, starting from 60 square meters, but spacious enough to allow easy access to the exhibited samples of goods.
It is necessary to place from 30 to 50 models of wedding dresses and at least 20 models of men’s suits in the sales area.
In addition, it is necessary to allocate space for showcases with wedding accessories, as well as organize a buyer’s corner, in which to place 2-3 chairs and a table with catalogs.
Mandatory attributes of the wedding salon are fitting room and large mirrors.
This is not such a big cost compared to the cost of purchasing an initial stock of models and accessories. This will require another 20-30 thousand dollars.
A critical condition for the success of a bridal salon is the right choice of suppliers.
The desire of clients to choose an original outfit for a wedding makes salon owners look for suppliers who can fulfill this desire. This is a tricky business, since most suppliers offer a standard set of collections that are repeated in most salons. This greatly reduces competitiveness. The buyer, having traveled around several salons, meets the same models everywhere. The search for original models, on the other hand, reduces the possibility of obtaining new suppliers, which, in turn, affects the level of markup and the overall profitability of the enterprise.
Some owners of wedding salons follow the path of a comprehensive offer, placing a standard collection of inexpensive dresses on the trading floor, and offering several samples of expensive exclusive models, made to order or bought outside the collections. This approach allows us to satisfy the needs of the majority of customers who are looking for both inexpensive models of dresses and those who want to find original ones.
Often successful is the cooperation of a wedding salon with a specialized sewing studio.
The price of tailor-made wedding dresses is much higher than that of standard models, however, it allows the bridal salon to earn on the sale of related accessories, and attracts additional buyers.
Since, in preparation for the wedding, the newlyweds and their parents inevitably visit bridal salons, it is also logical to offer services for organizing weddings and other related services. For this, a kind of pools of firms related to the wedding business are created.
Such cooperation leads to an increase in the income of all participants in the agreement, as it allows you to transfer customers to each other and increase the overall profitability. Recently, more and more bridal salons offer a variety of services, such as hairdressing, festive makeup, and transport services.
The profitability of a wedding salon is usually about 10-15%, because you have to spend significant amounts on staff salaries, the purchase of goods, advertising, and rent. The payback of such an enterprise occurs within one to one and a half years.
But, of course, ordering a business plan , including on our website, will help speed up the payback and increase the profitability of a new enterprise.