Do you want to start a wedding video business? If YES, find here a wedding videography business plan sample checklist with starting guide.
If you already in the photography or videography industry, then starting a wedding videography business is quite natural for you. However, if you are a beginner and want to start this business then you can take help of online videography courses.
Currently, you can find a lot of good cameras and equipment. Additionally, there are several software solutions that help in editing. So, it is not difficult to be a successful one in this industry. However, it is true highly important to know your competency and specific market demand. This business starting guide will definitely help you in establishing your own wedding videography business.
Wedding Videography Business Market Potential
In most of the cases, every wedding used the services of a professional wedding photographer. In the US, there are 300,000-plus wedding vendors operating currently. It includes ceremony and reception venues, DJs, coordinators, photographers, caterers, hair and make-up artists, limo drivers, and more. However, a stronger economic environment will always help in boosting the market.
Irrespective of economic downturns, weddings remain a stable business as it is a once-in-a-lifetime event for most of the couples. While weddings were a simpler affair about two decades back, economic liberalization and the increasing disposable income have prompted a change in attitudes. And today’s brides and grooms are ready to pay hefty fees for making their big day memorable. So, starting a wedding videography business is quite a lucrative proposition for the young entrepreneurs.
Wedding Videography Business Plan
In starting this business, the first step is crafting a business plan. Actually, the business plan is a blueprint. It is important to understand the specific market demand in your locality. Also, you must have the knowledge about the established businesses, their pricing, and marketing strategy. Then only you can chalk out your business plan in a foolproof way.
A business-plan outline has the following 10 sections: Title Page, Table of Contents, Executive Summary, Business Description, Product or Service Description, Organizational Data, Marketing Strategy, Competitive Analysis, Operations Plan and Financial Information.
Steps for Starting Wedding Videography Business
Get Skill & Experience
For a successful business model, these both are important. You must get valuable experience and develop a portfolio at the same time. However, you must be careful not to give away your services free. So, before commencing the business in a commercial manner, offer your service to the people in your known circle at a cheaper rate.
Procure Quality Equipment
Video equipment is becoming more and more affordable these days. But you’re going to need more than just a good camera or two. Some of the basic tools you need are Prosumer Cameras and Tripods, Wireless Mics, Camera Light, Hot Light and Stand, and cables.
Create a Portfolio
When you get some work assignments from your known circle, you must create a demo reel for creating your portfolio. However, never try to show a potential client the 150 minutes video. Rather, take the best of the best from each of your weddings and edit them together in a two- to three-minute reel.
Offer Professional Approach
You must present yourself in a professional manner with contracts and brochures ready. Literally, you have only one chance to make a first impression. When first meeting with a client, try to present yourself as an established business.
Pricing is a very important part of being successful. You don’t want to price yourself too low, as it sends a bad message out to clients. But you don’t want to price yourself out of the game, either. So, it is better to keep a little high price and an opportunity to offer special discounts.
Promote your Wedding Videography Business
Social networking sites (Facebook, MySpace) and pay-per-click advertising are very efficient through companies like Google and Yahoo. Also, try posting a blog. They’re free – and remember to regularly post your work.
One of the most effective ways to get yourself out there is to participate in Bridal Shows. This gives you the opportunity to put yourself directly in contact with potential clients and show off what you can do first hand. Additionally, contact with the other vendors in the industry. Such as wedding consultants, DJs, caterers etc. You can establish a business tie-ups with then in exchange for some referral incentives.
Basically, the most important aspect of starting a wedding videography business is to stay relevant. To achieve this, you need to be up to date with all the new trends and technologies in the video industry, as well as in the wedding industry. It helps to keep your wedding videography business more professional and acceptable.