Did you know that the global wedding industry is estimated to be worth over 300 billion dollars? Yet there are very little modern solutions to planning a wedding! Read about how PlanYourWedding.my aim to capitalize on this and become Malaysia’s No.1 wedding website…
What is it?
In it’s essence, PlanYourWedding.my is the modern solution to wedding planning, and has gained serious popularity in Malaysia.
Using the platform, you can get wedding inspiration and connect with wedding vendors. Brides and grooms-to-be can search for photographers, make-up artists, caterers, wedding dresses, cakes, flowers and much more on one platform.
Traditional wedding planning vs. PlanYourWedding.my
Traditionally, planning a wedding can be stressful and time consuming. That’s not to say brides-to-be don’t enjoy the process, but whether you like it or not, it takes a lot of time and effort to plan a dream wedding.
First you need to hire a wedding planner. According to Costhelper, most people pay around $1,500 per day to hire a wedding planner, while a full wedding planning service could cost anywhere between $5,000 to more than $10,000, depending on experience and demand. In addition, you could spend weeks, or sometimes months, trying to find a venue, a photographer, a band, a florist, a caterer and more. As well as visiting all of these places and trying out different things, it’s an all consuming process, and one that you need to start at least 8 months before your wedding.
What PlanYourWedding.my have done is simplify the process. The platform is your free wedding planner. There is no need to pay thousands of dollars when you can access PlanyYourWedding.my’s interactive platform and plan your own wedding with just a few clicks of a button. As we mentioned before, the website offers tons of helpful resources such as reviews, blogs, recommended photographers, make up artists, venues and more.
Meet the founders
In order to get inside PlanYourWedding.my’s proposal, we caught up with co-founder Stanley Chai to discuss all things PlanYourWedding.my:
Q1: What makes PlanYourWedding.my a unique proposition?
“Weddings are a niche, yet huge market, where people are willing to spend large amounts of money for a once-in-a-lifetime event. The market is promising because hundreds of thousands of vendors are serving the industry across 20 different categories. With minimum start-up funds we have managed in six months to develop an entire platform, as well as build brand awareness and acquire about 20% of available Malaysian vendors. These milestones reflect our capabilities, so imagine how far we could go if we get funded!”
Q2: What will successfully completing a funding round with Eureeca do for you?
“Once we successfully reach our target, we can start executing our marketing strategy to grow our business in the way we want, this essentially revolves around recruitment to increase market penetration and system enhancement to bring more value to our members.”
Q3: Why have you decided to use equity crowdfunding as your funding route?
“The main reason for using equity crowdfunding as our funding route is that we are able to access Eureeca’s international investor community. We are also opening our doors to all our customers, professional vendors and channel partners to share in our success.
Q4: Who are your competitors and what gives you the edge?
“In general, we have very few direct competitors but of the ones that exist they are built with different features, and are moving in different directions. In terms of features, PlanYourWedding.my has everything in place, from advertising to our marketplace, to a comprehensive and interactive platform ready to pamper our valued members. Our intention has always been to help couples in planning, and that is why we are building several planning tools. Technically speaking, our system is designed in such a way that we are prepared to face any and every upcoming challenge.”
Q5: Is this your first venture as an entrepreneur?
“No, I started my own software company as a business development director in 2012. In order to fulfill my dream, I quit the software company and ventured into setting up a new start-up to hold my PlanYourWedding.my platform.”
Q6: Finally where do you see PlanYourWedding.my in the next few years?
“If everything stays on the right track according to what we have planned, we are confident to say, we will be the No.1 Malaysian wedding platform in the next 2-3 years. Every couple will visit PlanYourWedding.my for their wedding plans, whether they need a specific product, service or even inspiration for their dream wedding. We are already making good headway in the Malaysian wedding sector, and we don’t want to stop there as we look to enter into other lifestyle verticals!”
The PlanYourWedding.my team definitely have the technological expertise to develop the platform into Malaysia’s No.1 wedding destination. All the ingredients are in place to allow them to succeed but what’s missing is the necessary funds that will take the platform to the next level, and successfully getting funded on Eureeca would allow them to develop their winning platform into a winning business.
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