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Getting your payment schedule right

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

10 Tips for Managing your Wedding Business Finances

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

Coping with seasonal cash flow

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

Cashflow for your wedding business

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