Discount – it’s a dirty word for small business owners. But it’s one that most of us hear every week. When I ran my wedding stationery supplies business it was a frequent question. From “do you offer discounts for military personnel?” to “is that your best price?”. “No” and “Yes” were our standard answers! Just … Read more
Pricing is one of those topics we all struggle with. So I’m delighted to bring you this guest post from videographer Stuart Kinghorn on how to set your prices and charge what you are worth. He also tackles the tricky “should I put prices on my website” question! Over to Stuart…… It’s no secret that … Read more
Are you scared of raising your prices? Worried that all your customers will disappear? Read too many “wedding rip-off stories”? While there may be a few wedding suppliers who charge extortionate rates for poor quality service, the vast majority of the wedding businesses I meet are offering incredible value for money and are frequently undercharging. … Read more
You’ve probably heard the phrase “turnover is vanity, profit is sanity”. It may be a cliché, but it’s certainly true. It doesn’t matter how many sales you make, if you don’t make any profit from them, then there is no point. So it’s vital to control your expenses and ensure that, as your business grows, … Read more
However much we love what we do, ultimately we are in business to make a profit so we can pay the bills and enjoy the lifestyle we want. If you are struggling to make enough from your wedding business, here are four areas to look at in order to increase your profits. Find more clients … Read more
For many wedding suppliers there is a long time between taking a booking and delivering the service. So it’s normal to take payment in stages. A deposit when they first book and one or more payments along the way. And it’s vital for the profitability of your business that you put together a payment plan … Read more
Whether your wedding business is part-time or full-time, just yourself or employing staff, it’s vital to have control of your finances. You don’t need to be an accounting wizard – just informed and organised. Here are our top 10 tips for financial mastery: 1. Know your legal position It’s important to set up your business … Read more
Somewhere, tucked away on my computer is the business plan I wrote when I started the Wedding Crafter back in 2004 which says: “This business will not be particularly seasonal” How naïve I was! This is probably the most incorrect and utterly bonkers phrase ever included in a serious document. I can joke about it … Read more
Setting your prices is often the most tricky aspect of setting up a wedding business. Start too low and you will be very busy for very little reward. Too high and it will be hard to attract any clients. Either way you will struggle to build a viable business. At the most basic level, there … Read more
It’s a common saying that more businesses fail due to lack of cash than lack of profit. With the banks toughening up their lending criteria these days, credit is harder to access so managing your cash is even more important. The seasonality of much of the wedding industry makes this an even greater challenge, so make … Read more
