Here’s something kind of shocking: when we ask wedding vendors, “How much do you need to make with your wedding business to have the lifestyle you want?” most of them can’t answer the question.
They simply don’t know how much it costs to run the business, and how much more it would cost to have the life they REALLY want. Well, we’re going to fix that right now!
We recently surveyed the wedding pros in our Book More Brides community. We asked: What is your IDEAL business income?
10% of people decided not to answer. (Chickens!)
• 21.8% want to make $50,000 – $75,000.
• 22.4% want to make $75,000 to $100,000.
• 18.4% want to make < $50,000.
An income goal of $100,000 per year would satisfy the desires of 62.6% of the people surveyed.
$120,000 should pretty much hit or exceed the income goal for most wedding vendors in our community. But we usually need more than we think to not only pay our bills, but bump our lifestyle up to that next level of happiness, something we’ll call Stress-Free Abundance.
Stress-Free Abundance = $150,000 / $12,500
With that in mind, let’s set $150,000 of annual income or $12,500 per month as our Stress-Free Abundance goal.
That should give you a pretty nice lifestyle.
Now we need to get specific and measurable. If you’re only making $25,000 with your wedding business (remember that was almost half of the wedding vendors we surveyed!) getting to $150,000 can seem like an impossible task. We’ll break it down into numbers that tell you exactly what you need to do.
Let’s say you make $1,500 from your average wedding, you book 50% of the couples you meet with and meet with 50% of the leads you get.
To hit Stress-Free Abundance you need…
Crunching the Numbers for $12,500 per month
• $1,500 per wedding = 8.3 weddings/month
• Book 50% meetings = 16 meetings/month
• Meet 50% of leads = 32 leads/month or 1.07 leads/day
Can you get 1 lead per day?
When you know and track your numbers, getting to Stress-Free Abundance is a reality.
Want to Figure Out Your Own Stress-Free Abundance Numbers?
CLICK HERE and enter your name and email to download the FREE 6 Figure Wedding Business Calculator and watch Video 2 to determine exactly what you need to do to hit your Stress-Free Abundance Goal this year.