Weddings are one of the most expensive events a couple can host. In 2019, the average cost for a wedding in the United States was a whopping $28,000. When considering that the average per person annual income is $35,977, this price tag becomes even more astonishing. Nonetheless, couples continue to plan spectacular weddings that create memories to last a lifetime.
An excellent way to pay for wedding-related expenses is to start a side gig. If you’re engaged and in search of ways to make extra cash, explore these five helpful tips from Abell DJ Company.
Decide what kind of side gig you want to start
Earning an income on the side of your day job is a relatively easy undertaking. However, before you can start pulling in sales, you need to decide what type of business you plan to run. You may have numerous ideas swirling around in your head, but you will eventually need to pick one to run with.
Start by brainstorming all of the side gigs you can envision yourself running. Consider all of the things you are good at and passionate about. Next, pick your top three favorites from this list. Explore what it would take to launch all three, and see which choice aligns best with your schedule, income goals, and preferences. After analyzing your ideas, you can more easily select the side gig that will be most profitable and enjoyable.
File all paperwork to make your new venture legal
All side businesses require at least some paperwork before they can be fully legal and compliant with local regulations. Depending on the type of business you decide to launch, you may need to register for a state sales tax permit, one or more business licenses, and a health inspection. Failing to follow all rules and regulations — no matter how small your operation is — can result in hefty fines and even time in jail.
On top of making your business legal, you will want to research business entity formation. Instead of acting as a sole proprietor (which can be appropriate in some instances), you may want added protections when starting a business. For example, when you form an LLC, you can shield your personal assets from lawsuits and uncollected debts that may arise. As you research the right option for you, be sure to explore all requirements and fees.
Make your official product or service list (with prices)
Next, it is time to create a product or service list. You should also set your pricing at this stage. A common temptation is to spread yourself too thin. While you technically may be able to offer an expansive list of products and/or services, you should provide a core offering initially. Once you have officially launched your side gig, and feel comfortable with your pricing and products/services, you can expand.
Start promoting your business online
Upon the official launch of your business, start promoting your business online as much as you can. In the world of social media and online advertising, there is no such thing as getting too much exposure. It is a well-known theory that consumers need to be exposed to a message at least seven times before taking action. Rarely do people see one ad or social media post and make a purchase immediately. Be persistent and consistent in your messaging. Construct a brand identity that fits your personality and that resonates with your audience.
Attend in-person events to make your side gig even more successful
Whether you plan to offer homemade candles, baked treats, or handcrafted apparel for dogs, attending in-person events can drive sales for your side gig. Browse listings for local farmers’ markets and vendor fairs to see what events are accepting applications. Often, these events are affordable to book and provide ample exposure for your business.
Saving money for your wedding is far easier when earning income from a side gig. As you contemplate what kind of business to open, ensure that whatever you select is something you love to do.
Abell DJ Company provides St. Louis-area couples with exceptional wedding DJ and entertainment services. Read our testimonials and explore service offerings today.