10 cheap business ideas to start for under £5,000
If you’re looking for cheap business ideas with bags of potential, take a look at these...
10 low-cost business ideas
1. eBay business
2. Wedding planning
3. Childcare and babysitting
5. Editing and proofreading
6. Market stall
7. Sports coaching
8. Handyman business
9. Cleaning business
10. IT support and repairs
What does a wedding planning business involve?
Planning a wedding involves taking creative control of all aspects of your client's big day – from researching the venue to booking flowers, entertainment and wedding cakes, designing invitations and advising guests on etiquette.
How much does it cost to start a wedding planning business?
Kelly Chandler, of the UK Association of Wedding Planners (UKAWP), tells us: “You have to set up a good website, which can cost anything from £500 – although wedding planners generally have good creative skills, so you may be able to manage part or all of the web design stage yourself.” You could also set up a basic site for free using self-build, template-based services.
“There's no official qualification, although we at the UKAWP do training courses, which cost £599 for a full weekend. You also need a base – most people work from home but they still need a good computer, a digital camera and a colour printer,” adds Chandler.
Hundreds of companies have sprouted in this sector over recent months, so you may have to advertise to get your name out there. Rates will vary, although a full-page advert in a national wedding magazine should set you back at least £1,000.
How much can I earn as a wedding planner?
As long as you're prepared to wait it out initially, wedding planning can offer a potentially lucrative low-cost business opportunity. According to Kelly Chandler, “it's hard to say how much you'll earn, because it'll totally vary. Expect to earn very little in the first two-three years – you may even have to forget about a regular salary. Beyond that you can earn good money.”
What sort of skills and personality do I need?
You need to treat each client's wedding as if it were your own. Each wedding has to be given the utmost love and passion, and you need to establish close relationships with each couple that engages you, so you can understand their perspective and what they want.
You also have to be patient. Sometimes the client's views will differ wildly from your own, and you're sure to hit snags in the preparation of each wedding. If you're blessed with a warm, measured character, and good communication skills, you've got a real chance of success.
Top tips for wedding planning success
- Approach each project with passion and motivation.
- Be persistent – wedding planning is glamorous, but it's hard work too.
- Create a good support network, with all your family and friends on board.
With the wedding industry bigger than ever, if organisation and people skills are your key strengths read our step-by-step guide on how to become a wedding planner here.
Ready to get started? Find out everything you need to know about how to start your own business here.