In this video we discuss the huge opportunity for wedding planners and their salary. We cover the average hourly rate and their yearly wage based location, city and experience.
BUT – the largest opportunity income wise is actually through self employment…
Being self-employed in the wedding industry is typical, and what I recommend as it’s the most lucrative.
Being independent offers the greatest flexibility and earning potential. When working as a independent wedding planner, your earnings would be based on the amount of clients you have, and your average invoice per client.
Here are three main ways wedding planners charge:
First, as a percentage of the wedding budget:
If the wedding planner is working for a percentage of the wedding budget, the most common percentage is 10%. So if the overall wedding budget was $35,000 the wedding planner fee would be $3,500.
With rising costs of weddings $35,000 is a very typical budget, so it’s normal to be earning $3000-$4000 in just a single weekend as an independent wedding planner. Which is why it’s SO lucrative to be a self employed coordinator.
The second method is from commissions and referral fees from other wedding suppliers:
Wedding planners can add to their potential income by referral commissions. Some wedding suppliers may agree to lower their prices for some wedding planners, giving the bride a better price, and also allowing the wedding planner to earn a referral fee.
And the third way is “Set Package Prices” with set rates and responsibilities.
Wedding planners will create their own ‘packaged service’ with a list of services they will provide and responsibilities for a set price.
This makes it clear to the bride what they will get from the wedding planning service within a set budget. The Wedding Planner Institute teaches budding wedding planners how to put together their own wedding packages in their Wedding Business Course.
The starting prices of most wedding wedding packages can be from around $990 for just and “on the day” wedding coordination service, to $3,500 upwards, depending on the amount of time the wedding planner will spend planning, and her responsibility.
Here are two other methods to earn a great living in the wedding industry.
The common salary of a full time wedding coordinator at a larger wedding venue is around $60,000-$75,000 per year. This all depends on the size of the wedding venue, and the amount of weddings they have each year. The more responsibility you have as a wedding coordinator, and the more weddings you are looking after, the higher the salary. If you are at a smaller venue, or work in a country town, your salary may be calculated at an hourly rate. Hourly rates as an employee can be from $30- $35 per.
Larger wedding venues where there is multiple weddings per week that require a whole team to run the events may require a Weddings and Events Team Manager. This would attract a higher salary of around $80,000- $100,000 J
Wedding decorators and stylists will work on set packages as well as custom quotes. If a wedding planner is working with their own clients, they will get paid per wedding that they do.
The Wedding Services industry consists of not just Ceremony and reception venues, food and drink services, attire and accessories, photography, flowers… but also planners, coordinators, and stylists Among Others.
The wedding industry generates over 6 billion dollars a year in in Australia in wedding and ceremony related expenses. With a common way for a planner to charge for their services as a percentage this is a 6 BILLION dollar business opportunity!
Click the link below to learn more about the Certified Wedding Planner Course and you’ll discover why it’s the industry leading resource for TOP Wedding Planners.