Tag: wedding business ideas

  • Best Wedding Business Ideas in India

    Indian weddings have one primary goal to create a memorable experience for the couple as well as their families, by focusing on as much opulence as possible. This business opportunity in India, the UK, and other locations around the world needs to be filled to celebrate Indian weddings through a supportive industry.

    The most memorable day in the life of any individual is their wedding day. Almost every parent in India has dreamed of a big fat Indian wedding for their sons and daughters since their childhood. But it varies from person to person, as money plays the main role in these weddings. There are over 10 million weddings celebrated in India every year. For many analysts, that implies that the global Indian wedding industry is recession-proof. This article covers the best wedding business ideas in India which you would like to start with.

    Indian Wedding Business Worth
    Best Wedding Business Ideas

    1. Wedding Planner
    2. Wedding Caterer
    3. Makeup Artistry
    4. Wedding Dresses
    5. Wedding Jewelry
    6. Wedding Blogger
    7. Wedding Magazine
    8. Wedding Videographer
    9. Wedding Musician
    10. Wedding Custom Gifts
    11. Wedding Choreographer
    12. Costume Rentals
    13. Wedding Invitations
    14. Wedding Floral Arrangements
    15. Custom Wedding Cake Designing

    Indian Wedding Business Worth

    Weddings in India in November-December
    Weddings in India in November-December

    The Indian wedding industry is the second largest in the world. A report by the Economist says the wedding industry in India is the fourth biggest industry in India, with people spending around $130 billion each year. This large industry creates jobs for millions of people. India’s big wedding season was set from November 23 to December 15, 2023. A survey by the Confederation of All India Traders (CAIT) estimated that about 3.5 million weddings would happen in these 23 days. This would boost the economy, with around $57.2 billion (INR 4,74,000 crore) expected to be spent on wedding expenses and services.

    Best Wedding Business Ideas

    Many niche businesses cater to weddings. They are either full-time or part-time businesses. The factors and incentives that encourage people to go into this line of business are the ability to get good returns on little investment in the business as long as you are passionate about the job. It is a cost-effective business that can be started with little initial investment.

    Wedding Industry Business Ideas in India
    Wedding Industry Break-up By Services

    Here are some wedding related business ideas in India that are highly profitable:

    Wedding Planner

    The job of a wedding planner is to assist with the designs, management, and planning of a client’s wedding. The planner takes care of every aspect of the program from food to decorations and entertainment. A wedding planner eliminates the stressful and energy-consuming part of planning a wedding leaving the couples to cherish the event fully, without caring.

    According to a survey, the wedding planning market in India is expected to hit INR 2 trillion by the year 2024. Many wedding planners have begun to charge up to 15% of the wedding budget as their consultation fee. Wedding planners can earn good money by helping couples plan every part of their big day, making it one of the best wedding business ideas. A wedding planner business idea helps couples organize everything for their special day making it stress-free for them.


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    Wedding Caterer

    One of the most important aspects of weddings is the food. Because food taste and quality of service are becoming serious issues to consider, more couples prefer to have professional caterers prepare and serve the food during the wedding event. A wedding caterer takes care of the meals based on the couple’s request.

    Catering for wedding events has become quite popular due to the wide range of menu options that are possible. Starting a catering service business is a great idea for entrepreneurs who are well-organized, hardworking, creative, and able to accommodate and adapt to changing customer needs and demands. It’s a business that can be done part-time while you gain experience, build a client base, and buy equipment.

    Makeup Artistry

    A makeup artist is someone who uses cosmetic techniques and processes to create beauty as desired. Every bride wants to look her best on her wedding day. The makeup business is practicable as a one-man business with low overheads. Makeup artists are some of the top earners in the entertainment, bridal, and beautification industry. Their level of income is a factor in their pedigree, experience, and network. This can be a profitable wedding related business idea in India.

    Wedding Dresses

    Starting a wedding dress business is a great marriage business idea, as many brides look for the perfect dress to make their day extra special. Based on an estimate, the average clothing budget for a wedding in India is $375,500 or more. Wearing an exclusive designer sari for the event can cost as much as INR 110,000 and more. So the clothes business is a huge success. If you do not have too much capital to invest in the business, and funding is a barrier for your business then you can still cater to money-conscious couples. You can start with a wedding dress rental service with a few dresses, a business telephone, a business card to start with, and a website, you are ready to get started with your business.

    Wedding Jewelry

    According to some estimates, families might spend up to $250,000 on elaborate bracelets, earrings, necklaces, and other jewelry items for the whole family as part of the Indian wedding. So this is a very profitable business idea. You can also rent the jewelry.

    Wedding Blogger

    Weddings are usually a very hot and attractive topic, especially among young unmarried people. They are always interested in the latest trends in weddings, including the latest gown/dress fashion, creative wedding hashtags, wedding themes, rings, cake designs, flowers, decorations, and many other things. During these weddings, the brides-to-be always need help and information regarding the ceremonies, events to be held, and dress to wear on occasion to make their dream wedding a huge success. To fulfill these needs publishing a wedding blog is usually easy and cheaper to start than publishing a magazine.


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    Wedding Magazine

    Even though capital intensive, you can start a wedding magazine. Start publishing bridal magazines and in no time you will be popular. The business requires licensing and permits. You need seasoned writers, editors, photographers, and location drivers.

    Wedding Videographer

    A wedding videographer’s job is to capture the whole event. Becoming a wedding videographer is yet another easy business idea and can be a lot of fun. You get to spend your professional life at parties where people are energetic, positive, and excited. You also get to engage with the challenge of turning one of the most important events in someone’s life into a visual souvenir that they’ll be happy to watch over and over again.

    To make a wedding videography business successful, you’ll need a vehicle so that you can travel freely, as well as the space and equipment necessary for editing.

    Business Ideas for Weddings
    Wedding Related Business in India – Wedding Videography

    Wedding Musician

    Modern-day musicians have a huge customer base at weddings. Employ your compilations of music from a variety of eras to please every generation in music at weddings. Couples with bigger budgets are springing for both a DJ and a band. They may want their first dance song to be played live but prefer a DJ later in the evening for a nightclub atmosphere. Or some may stick with the live band all night.

    Wedding Custom Gifts

    Offer personalized engraving or monogramming services for wedding gifts. The main challenge is making sure each piece is high quality. Personalized gifts are meaningful and can sell at higher prices, making this a profitable business idea. You can start with simple tools and grow as you get more clients, using social media to show your work and attract more people.


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    Wedding Choreographer

    Offer dance choreography services for couples who want a special dance at their wedding. You can run this business from a home studio. The main challenge is building a client base and marketing your service, but couples often highly value this, making it a profitable wedding business idea.

    Costume Rentals

    Clothing rental is a great wedding business idea with many benefits. It supports sustainable fashion by reducing waste, as people rent instead of buying new clothes. It’s cost-effective, letting customers wear designer outfits for special occasions without paying full price. Plus, you can run a clothing marriage rental business online, so you can reach customers anywhere without needing a physical store.

    Wedding Invitations

    You can make special, one-of-a-kind invitations for people’s weddings, either as digital ones or as real printed ones. Styles change fast, so you’ll need to make new designs often. But people always love invitations that feel personal and unique. How much money you make depends on the price of materials and what people are willing to pay. This can be a fun and profitable idea for the wedding business in India.

    Wedding Floral Arrangements

    Marriage Business in India
    Best Wedding Business Ideas – Floral Arrangements

    A wedding floral arrangements business involves creating beautiful flower designs for weddings, like bouquets, centerpieces, and decor. Flowers add beauty to weddings, so this is a great wedding business idea. To start, learn floral design skills and make a portfolio of your work. Connect with local flower suppliers to keep a steady supply. Set prices for different services, like bridal bouquets and venue décor. Create a website and use social media to show your work and attract clients. It is one of the best wedding industry business ideas that will cater to you with maximum profit.

    Custom Wedding Cake Designing

    Offer custom wedding cake services, letting couples design a cake exactly how they want. The main challenges are creating detailed designs and delicious flavors, but happy clients can lead to more word-of-mouth referrals. Each cake can be very profitable, and you can grow your business by sharing photos of your cakes on social media to attract more couples.


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    Conclusion

    India has one of the largest population centers in the world today, it will continue to boast one of the largest wedding industries in the world as well. Over the next 10 years, as incomes rise in the country, the wedding industry may begin to close the gap between it and the United States. Though there was a huge drop in the wedding business in India during the pandemic, it started getting better as things went back to normal. In the future, we can look forward to seeing many more weddings.

    FAQ’s

    How do I start my own wedding business in India?

    1. Choose the Type of Wedding Business You Want to Start and a Name.
    2. Choose a Business Entity.
    3. Write a Detailed Business Plan.
    4. Get an EIN.
    5. Get a Business Bank Account and Business Credit Card.
    6. Get Any Funding You Need.

    Is the wedding business in India profitable?

    Yes, owning a wedding venue can be a very profitable business, but not if you take on too much debt. This business requires a lot of work, and if you get in over your head in terms of debt and assume you’ll book 50, or 100, or 150 weddings a year, you could find yourself working nonstop which can put you in a difficult situation.

    Do wedding planners make a lot of money?

    The typical wedding consultant salaries are wide open from a few hundreds to a few thousand. The wedding planners earn wages of $100K a year easily and there are some who could barely cross $15K. The difference in a wedding consultant’s salary is the number of years they’ve been in the business.

    Is wedding planner a good business?

    A full time and experienced wedding planner can earn between 10-15 percent commission of the total wedding budget. So, for a wedding budget of INR 10 lakh, one can easily earn at least INR 1 lakh. Wedding planning requires creativity, people management, time management, and working at unearthly hours.

    Are wedding planners in demand?

    Yes, wedding planners are in demand because they help couples organize everything, making the wedding day easy and enjoyable.

  • What Is Marry Now Pay Later Business? | Top Indian MNPL Schemes

    Marriage is a once-in-a-lifetime concept because it is such a significant life event. Typically, all parents will set aside some funds for their children’s weddings, which may occur shortly. As we all know, parents invest their earnings for the benefit of their families and their children’s futures.

    So, what exactly qualifies as saving? Imagine saving up all of your money for a big event, from invitations to arranging the wedding in a 5-star hotel with lavish decor, providing A-class cuisine, hiring professional photographers, and wearing designer clothes as wedding attire that would undoubtedly look lavish in the eyes of guests, and would undeniably be the talk of the town for some time.

    While no one considers the long-term consequences of such extravagant spending for one day, such as paying off a loan (if one was obtained), making future investments, and so on?

    Yes, I agree with the concept of a once-in-a-lifetime event, but spending your entire life’s hard-earned money on one day with zero returns is absurd. Enrolling in a ‘Marry Now Pay Later’ policy, on the other hand, will help you in a variety of ways, as you will only have to pay a minimal amount as an EMI  on an installment basis, rather than investing all of your savings into one lump sum, and you will have the same amount of excitement on your wedding day.

    What is Marry Now Pay Later (MNPL)?
    What are the Benefits of Marry Now Pay Later (MNPL)?
    Marry Now Pay Later (MNPL) Schemes in India

    What is Marry Now Pay Later (MNPL)?

    A wedding can easily cost an arm and a leg, and an Indian destination wedding will almost certainly last a week. From invitations to Haldi, engagement, and wedding functions in a luxurious resort, to meeting all of the guests’ requests for their stay, cuisine type, and other demands, tons of money.  

    As a result, several Indian companies have come up with the concept of a ‘Marriage loan,’ which is similar to a ‘personal loan,’ but where the funds are solely used for marriage purposes. Like the policy name ‘Marry Now Pay Later’, where you will spend all the money on your wedding and pay off the sum in later days as EMIs.

    What are the Benefits of Marry Now Pay Later (MNPL)?

    Availability of Maximum Tenure:

    MNPL provides nearly Rs 50,000 to Rs 40 lakhs as marriage loan for length & flexible tenure of about 12-60 months. Plus comes with instant pre-approved wedding loans, within one day of submission of the required documents relating to the policy.

    No Collateral Required:

    Another major benefit is that no collateral support is required to enroll in MNPL policy. Just proof of income and the name of the company or organization you are working in, to get the policy sum.

    No Liquidation of the Asset:

    To pay for a wedding, some people choose to surrender their fixed deposit or liquidate their savings/assets early. However, in the case of MNPL, you can pay the due amount from your salary, without disturbing your investments or savings.

    Reasonable EMIs:

    One of the reasons I recommend MNPL is that they charge a reasonable interest rate on loans taken out. The interest rate ranges from 10.50 percent to 20.40 percent, with EMIs varying between institutions in some situations.

    Marry Now Pay Later (MNPL) Schemes in India

    Hotel Royal Orchid chained Bajaj Financial services company

    To make wedding planning easier, Royal Orchid Hotels has launched the Marry Now, Pay Later scheme. Weddings will be held at Royal Orchid Hotels’ leisure resorts in Bengaluru, Goa, Mussoorie, and Jaipur, with the venue, decorations, catering, lodging, music, and transportation all taken care of. Royal Orchid has partnered with Bajaj Finance to offer zero-down payment wedding financing, with the first EMI due 30 days after the booking.

    HDFC

    HDFC Marriage Loan
    HDFC Marriage Loan

    HDFC Loan product is just what you’re looking for to help you pay for your dream wedding. Customers can choose from several EMI repayment choices and term lengths for their marriage loan. To help you organize the wedding, there’s also an uncomplicated online approach and speedy disbursal.

    You can borrow anywhere between Rs 50,000 and Rs 40 lakh with an HDFC Bank personal loan for weddings, which has a flexible 12-month to the 60-month repayment period.

    HDFC Bank provides personal loans for weddings based on your monthly pay and the company you work for, so you can acquire one without putting up any security or collateral.

    ICICI

    ICICI Marriage Loan
    ICICI Marriage Loan

    You can realize all of your wedding days desires with an ICICI Bank Marriage Loan. The interest rates on an ICICI Bank Personal Loan for a spectacular wedding start at 10.50 percent*p.a. Loans ranging from 50,000 to 25 lakhs are available to you. It only necessitates a small amount of paperwork and does not necessitate any kind of security or collateral. The ICICI Bank Marriage Loan has various repayment choices, allowing you to repay the amount over a period of 12 to 60 months.

    LazyPay

    LazyPay Marriage Loan
    LazyPay Marriage Loan

    LazyPay relieves you of the stress of wedding planning. They provide personal loans up to one lac in a matter of minutes. All you have to do now is obtain the wedding loan funds and begin planning your dream celebration! Start your trip to a great life with a marriage personal loan.

    Fullerton India

    Fullerton India Marriage Loan
    Fullerton India Marriage Loan

    Fullerton India offers a private loan for marriage with interest rates as low as 11.99 percent* per year. The precise interest rate you’ll be paid is determined by your financial profile, which includes your good credit score, the type of your job, and your previous contact with us. The interest rate offered is also influenced by the loan term and the amount chosen. There may additionally be a processing fee of up to 3% of the loan amount.


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    Conclusion

    Registering in a ‘Marry Now Pay Later’ insurance will benefit you in several ways, including the fact that you will only have to pay a little amount as an EMI over time rather than investing all of your funds in one lump sum, and you will experience the same level of excitement on your wedding day.

    FAQs

    What are the requirements for a marriage loan?

    Only salaried employees are eligible for a marriage loan. The staff of select private companies and PSU employees are eligible for Personal Loans.

    What documents are needed to apply for a wedding loan?

    The following documents are required to apply for a Marriage Loan: most recent salary slips, photographs, KYC documents, and the last three months’ bank statements.

  • Wedding Insurance: An Emerging Business Model

    Having insurance for anything that goes wrong ensures that you are shielded. The insurance will pay you back the money. Looking in the times we are, having industry in place is a must. Insurance is available for everything. Ranging from insurance for your car to one for your home or even your wedding.

    A humongous task
    But what if your dream day turns into a complete nightmare?
    Why get a Wedding Insurance?
    Types of Wedding Insurance
    How Wedding Insurance is Emerging as a new Business Model?
    FAQ

    Planning a Wedding is a Humongous Task

    Planning a wedding is no joke, and people involved in the wedding business will tell you about it. Behind the scenes of a single wedding day requires months or even a year of planning in advance. Besides, you want everything to be perfect and dreamy as per your wishes.

    For so long, the industry that has been dealing with weddings has been a completely different sphere. It includes:

    • Dressing
    • Cakes
    • Decorators
    • Food
    • Booking
    • Music
    • Venue

    And you know, the list does not end here. You need to constantly be on the look-out for everything.

    But what if your dream day turns into a complete nightmare?

    You can plan everything, but at times some things are beyond our control. But still, at times, not everything works out according to what you plan, and there goes the months of planning and taking every minute detail of planning right in the bin.

    Weather

    The last thing you want is a snowstorm to hit and not being able to do anything about it. Now, the climate is something that is natural, and you can’t help it.

    Fireworks gone wrong

    All the while, you are walking and your guests are holding sparklers to make your entrance memorable. Your dress accidentally catches your wedding dress on fire.

    Health issues

    What if your other half faces an emergency health problem right on your wedding day. Or someone from your immediate family.

    Why get a Wedding Insurance?

    Insurances act as a shield when something goes wrong. Planning every tad tidbit. Covering all the minor and major factors that go into the planning and arranging of your wedding day. Walking down the aisle when everything is just perfect. Because you do not want a scandal while having the day that you dream of coming to life.


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    Types of Wedding Insurance

    Event cancelation coverage

    Now, this policy will pay you back if your wedding is canceled over some of the reasons like the following:

    • The bride or the groom needs to be immediately deployed to the military.
    • If any extreme weather does not allow you or most of your guests to attend the event.
    • If either person from the couple could be facing any serious emergency health issues or someone from their immediate family.

    Just in case if you need to reschedule, the policy may also help you reimburse your money if you already have paid for the venue and the caterers under unforeseen circumstances.

    Which also includes:

    • Wedding gifts, photographs, videos that are lost or damaged.
    • If your photographer does not show a refund.
    • Repair or replacement costs for your wedding attire and rings.

    Event liability insurance

    Majorly limited to a 24-28 hours period. It helps if you are planning on a rehearsal. It protects:

    • The rehearsal dinner
    • Wedding ceremony and reception
    • The set-up and removal within 24 hours of the event.

    It also covers the cost if you are legally accused of injuring someone at your wedding or causing damage to the venue.

    How Wedding Insurance is Emerging as a new Business Model?

    Need of the hour

    The pandemic caused much chaos in our lives. Delayed the reopening of our schools, colleges, restaurants, parks, and some of the most important days planned by many. It prolonged many people’s weddings.

    Establishing trust with the customers

    Providing people with that peace of mind. The segment of the market that is booking halls for their weddings are also trusting. These wedding insurance companies, that they will protect their investments if anything goes wrong during these uncertain times.

    Specifically tailored policies

    The couples have the policy to choose from which suits them according to their wants. With the flexibility to also add some packages along with either event cancelation coverage policy and the freedom to add some specific package to the policy if needed.

    Search Engine Marketing

    The wedding insurance industry is leveraging platforms like Google Ads to increase their organic search results (SERPs). So, for example, if someone is looking for a company, it will use the keywords like “wedding insurance” and organize your websites by topic. So that it increases the probability of coming up in the search results.

    Using pay-per-click (PPC) allows you to pay a fee to have your website on the search engine result page when people are looking for specific keywords or phrases in the search engine.

    Social media marketing

    Reaching out to young couples looking to plan a wedding on social media. Especially the brides who look for the options directly on social media when researching for what they are looking for.

    These companies use Pinterest as it is the go-to place to plan anything and everything.

    Ranging from ideas for DIYS; indoor decor to planning your weddings. They expand their boards using seasonal photos, and optimize the boards in a way so they gain visibility on Pinterest.

    Referrals and Digital marketing

    There is no one better advocate for your business than a satisfied customer. Wedding insurance companies now have their own websites. To make their presence visible online in the digital world.

    Sharply pairing up the space with a section of reviews from satisfied customers with the service, that in turn act as referrals.

    They also use E-mail marketing appropriately for their wedding business and getting into the right directories for digital marketing.


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    FAQ

    What is covered by wedding insurance?

    Wedding insurances usually covers the cost of the wedding ceremony and reception if something goes wrong.

    How much does wedding insurance typically cost?

    Wedding insurance policies ranges roughly around $215 to $1300.

    What are the types of wedding insurance?

    There are two types of wedding insurance, Event cancelation coverage and Event liability insurance.