Wedding Planning Income Statement Template

Once the categories reflect your business, enter revenue and expenses for the current month. If you don't track in real time, pull your bank statements and credit card records for the month and work through each category. The COGS section is where the detail matters most for planners — enter assistant wages, any sub-planner or contractor fees, and the actual cost of vendor services you passed through to clients. The formulas calculate gross profit, operating income, and net income automatically. Repeat the process as each month closes.

The margins that define a healthy wedding planning business are gross margin (revenue minus direct event costs like assistant pay and vendor pass-throughs) and net margin after all operating expenses. Gross margin in wedding planning typically runs between 55% and 70%, with full-service planners on the lower end — where the complexity justifies higher fees but also more assistant hours — and day-of coordinators on the higher end where direct costs are minimal. Net margin after marketing, software, insurance, and owner compensation usually falls between 15% and 25%. If your net margin is consistently below 15%, the culprit is almost always either marketing spend that isn't converting to bookings or pricing that hasn't kept pace with the cost of doing business.