Wedding Planning Service

Together Forever Wedding Planners

515 West Cherry St. Jefferson City, MO 65109
Kari Lucke
Together Forever is a wedding planning service that is designed to provide couples with all the
services they need for an extraordinary wedding and reception while keeping within the
proposed budget. Because planning a wedding can be a very stressful and complicated process,
Together Forever exists to help couples navigate all the challenges to creating a beautiful
wedding that meets all of their expectations.
1.0. INTRODUCTION
1.1. Executive Summary
Together Forever is a wedding planning service that is designed to provide couples with all the
services they need for an extraordinary wedding and reception while keeping within the
proposed budget. Because planning a wedding can be a very stressful and complicated process,
Together Forever exists to help couples navigate all the challenges to creating a beautiful
wedding that meets all of their expectations.
1.2. Goals and Objectives
• Establish a reputation as a premier wedding planning service in the mid-Missouri area
• Plan 30 weddings a year by the third year of business

2.0. INDUSTRY AND MARKET

2.1. Industry Analysis
According to AFWPI, there were 2.2 million weddings held in the United States in 2008. The
most popular months for weddings are June through September, with the fewest weddings
performed in January and February. Other statistics show that about one-third of U.S. couples
hire a wedding consultant.
According to the Personal Money Store (http://www.personalmoneystore.com), in 2010 the
wedding industry was worth $120 billion and the average wedding cost $27,000. In addition,
Michael Eckenrod of the Personal Money Store stated, ‘‘Although wedding planners used to be
solely for the affluent, lately they are much more mainstream, playing parts in even the smallest
wedding affairs.’’ A publication titled ‘‘The Wedding Report’’ by Shane McMurray attributed
the growth in the wedding planning industry to people ‘‘waiting longer to marry and [being]...
too busy pursuing careers to plan their big day.’’
2.2 Market Analysis
Jefferson City is the capital of Missouri and has a population of about 40,000. Eighty percent of
the city’s population is white, 15 percent black, 2 percent Asian, 2 percent Hispanic, and 11
percent other. Columbia, Missouri, which is 30 miles north of Jefferson City, is also a primary
market. Columbia’s population is 94,000 and consists of a large concentration of young adults;
35 percent are ages 20 to 34. Columbia’s race distribution is 81 percent white, 11 percent black,
4 percent Asian, 2 percent Hispanic, and 2 percent other.
It is important to note that although the primary market for Together Forever consists of young
adults, their parents (especially the bride’s mother) are also potential clients, because
traditionally the bride’s parents foot the bill for the wedding and are very involved in its
planning.
2.3. Competition
The main competitor in the Jefferson City area for Together Forever is Weddings by Joan. This
is the only full-service wedding planner in the city; other establishments offer specific services
such booking the location, arranging for flowers, and so on, whereas others focus on the
reception (entertainment, catering, the cake), but none offer the range of services covered by
Together Forever. In addition, the operator of Weddings by Joan is a recent college graduate, is
not yet certified, and does not have as much experience in the business as Elaine, which gives
Together Forever a competitive advantage.
There are several event planners in Columbia, but only four focus on weddings in particular, and,
of those, only two offer a full range of services: Your Day Events and The Princess Bride LLC.
Both of these offer services and prices comparable to Together Forever. However, Together
Forever has an edge on both of these businesses. First, Your Day Events does not have a website,
which puts it at a distinct disadvantage as compared to Together Forever. Second, The Princess
Bride is locally known for its unusual themed weddings and seems to have created a niche for
itself in this area. Therefore, couples that are looking for a traditional wedding may not think of
that service as their best option.
2.4. Pricing
The full-service package is priced at a base rate of $2,500, whereas the consultation package is
charged at an hourly rate of $75. For the full-service package, a deposit of $500, which is applied
to the total cost, is due at the time of the first scheduled consultation. If the couple cancels within
seven days, half of the deposit is returned. Cancellations after seven days receive no refund.
There is no deposit fee for the consultation package.
3.0. STRATEGIES
3.1. Business Strategy
After identifying a potential client, Elaine meets with the couple for a one-hour complimentary
consulta- tion in which she gives a brief summary of her services and prices and tells the couple
what they can expect if they hire Together Forever to plan their wedding. She also gives the
couple a brochure that provides details about the service. At the same time, the couple can
explain to Elaine what they have in mind for the wedding, where they are in the process of
planning for it, and what budgetary restrictions they may have. If both parties are comfortable
that they are a good fit, Elaine schedules the initial appointment as well as some subsequent
appointments, if possible. Sometimes, the couple wants time to think over whether they will use
Together Forever, in which case Elaine gives them her card and encourages them to look at her
web site and call her with any questions. Elaine follows up with a phone call or email to the
couple if she has not heard from them within a week to ten days, but she does not employ any
pressure tactics in order to convince the couple to choose Together Forever. Usually, if Elaine
can provide the services the couple needs and they get a good first impression, they will choose
to hire her.
3.2 Growth Strategy
One area of growth for Together Forever will be in the destination wedding sector. Destination
weddings, which often take place in exotic locations, are becoming more popular in the United
States. In fact, according to Brides magazine, the number of destination weddings increased by
400 percent between 1996 and 2006. Planning these weddings involves a distinct set of
challenges, such as helping the couple choose a location that is right for them, securing airline
tickets and hotel reservations for the wedding party and guests, managing details such as flowers,
tuxedo rental, and reception details from a distance, and so on, but there is also huge potential for
growth. One option is to develop packages that are specific to a certain location—Together
Forever can then maintain ongoing contacts with vendors in that location, and all the couple has
to do is choose one of the locations. This option can also mean less time and work for Elaine, as
she would already have a familiarity with the location, which vendors to use, what facilities are
available, and so on.
4.0. MARKETING AND SALES
4.1. Advertising and Promotion
Advertising for Together Forever will consist of the following: business cards, a trifold brochure,
a 2-inch by 3-inch display ad in the local telephone company’s Yellow Pages, a 2-inch by 3-inch
display ad in the local monthly lifestyles magazine Inside Columbia, and a professionally
designed and easy-to-navigate web site. For the web site, ‘‘professionally designed’’ is key, as
many wedding planners (and countless other services) have web sites that look unprofessional
and provide questionable first impressions.
Word of mouth is considered another form of advertising. As people use Together Forever and
are satisfied, they will recommend the company to friends and family. Word of mouth is
considered one of the most effective means of advertising for this type of company.
Finally, Elaine will participate in two local bridal shows a year. The booth rental for each
averages $300 for a two-day event.
4.2. Cost
Total cost of start-up advertising is estimated at $800: $300 for the Yellow Pages ad, $200 for
the Inside Columbia ad, $200 for brochures, and $100 for business cards. Booth rental for bridal
shows will run $600 a year.
5.0. OPERATIONS
5.1. Customers
Customers are engaged couples, primarily brides-to-be, in the mid-Missouri area, including the
cities of Jefferson City and Columbia. Because the average age of brides is now 26 and the
average age of grooms is 28, this is the age group that will be targeted by Together Forever.
Customers also include brides’ parents, as they are often the ones who pay for the wedding.
5.2. Equipment
The only equipment necessary to begin the business consists of a computer and related software
and hardware, as well as basic office supplies. Elaine will also invest in furniture for the office,
as described in Section 7.4.
5.3. Hours
Appointments are scheduled on an individual basis. There are no ‘‘walk-in’’ hours for a
consultation business such as wedding planning, but the designated business phone line will be
answered 24 hours a day by Elaine herself or an answering machine.
5.4. Facility and Location
Elaine will work from her home at 515 West Cherry Street in Jefferson City, Missouri. The
house is a brick two-story that has been completely remodeled and updated. The front lawn is
professionally landscaped with flowers, shrubs, trees, and other features that add to the house’s
‘‘curb appeal’’ and make clients feel welcome and confident in the occupant’s good taste and
level of professionalism. Elaine will meet with clients at her home at times, and she has designed
an office specifically for that purpose. The office is outfitted with an executive meeting table,
leather chairs, and an audio-visual system including a flat-screen TV, DVD player, CD player,
and quality sound system. This office also contains Elaine’s work desk and computer, magazines
and books, DVDs, CDs, and other resources, and any other equipment or supplies that may be
needed when Elaine meets with clients. Because first impressions are important in this business,
the office, as well as the entire house, is tastefully and professionally decorated and includes
such special touches as fresh flowers and fine art. The office is located directly off the entryway
of the home.
6.0. FINANCIAL ANALYSIS
Wedding planning is a low start-up cost business. However, in order to provide a professional
image, Elaine will invest in some extra items such as furniture for her office. Money for start-up
costs will come from a personal savings account.
Expense
Office Furniture $ 2000
Computer and related equip $ 1 500
Office Supplies $ 200
Advertising $ 800
ACPWC membership $ 240
Insurance $ 200
Total $ 4 940

Income will depend on number of weddings per year as well as the level of services performed.
According to Elaine’s experience with Today’s Wedding as well as research on specific
demographics and characteristics of the mid-Missouri area, the average profit for planning a
wedding is $2,000. This allows for all operating expenses including salary for part-time
assistants and out-of-pocket incidental costs. Based on this conservative estimate, the first three
years’ profit may be projected as follows.

Profit
$7,000
$6,000
$6,000

$5,000
$4,000
$4,000 profit

$3,000
$2,000
$2,000

$1,000

$-
Year 1 Year 2 Year 3

Years Target ( Amount of weddings) Profit

1 15 $ 2000
2 20 $ 40 000
3 30 $ 60 000