This week Your Legal Fairy Godmother headed to the Society of Professional Wedding Vendors, and I talked all things wedding industry contracts with Donna. You can listen to The Wedding Pro Cast episode on all good podcast platforms, and whether you already have a contract in place or not (especially if not!), it’s full of helpful tidbits and advice!
#YourLegalFairyGodmother
In the podcast I talk about how my widely used hashtag ‘Your Legal Fairy Godmother’ came about to help bridge the gap between the creative wedding industry and the more formal law world. I recognise that they’re not sexy, fun or an exciting part of running a business, but coming from a dispute resolution law background I know how vital they are. Stanford Gould Ltd was born out of a desire to help small businesses get the important contractual ‘stuff’ in place in an accessible way – and eventually Stanford Gould Online was created to dial in on the wedding industry niche I’d begun to see opening up.
Biggest Mistakes
I briefly talked to Donna about the three biggest contract mistakes I see people make, and these can be within wedding industry contracts or from any other small business. The first is user-friendliness! People make the mistake of thinking that just because it’s full of ‘legal jargon’ it must be a good contract, but in a nutshell if neither you nor your customers and clients understand it, it’s no good to either of you!
Secondly, people often make amendments and additions to their contracts as time goes on and problem scenarios crop up. However, this can lead to conflicting clauses in different parts of the contract which can in turn land you in hot water! I develop on this point and give examples in the podcast episode.
The third mistake I so often see in wedding industry contracts is missing liability clauses. Particularly as a sole trader, it’s your assets (car, house, pension…) on the line if you have to pay up. Limiting your liability and protecting this is a MAJOR reason to have a properly created contract!
Your Legal Fairy Godmother’s 3 Top Tips for Contracts
Donna also asked about my three top tips for contracts for your business. Number one on the list in bold, underlined and with gold fairy dust all over it is simply this – HAVE ONE, and have it in writing! Your clients will think more highly of you if you produce one at the right time and get them to sign it, particularly in a world altered by the pandemic.
My second tip is to make it understandable – make sure you know what it all means, and your clients do too. This is one thing we pride ourselves on with our wedding industry contract templates – they have the necessary legal terminologies but without being unfriendly and hostile to read.
My third tip is very simple – USE your contract. Don’t set yourself up for a fall by not producing your contract on every single sale or booking.
Do I Need An Update?
On the episode we also discussed times when you might need to update, revisit or change your contract. First and foremost, if you don’t yet have one in place then make it your next priority. Consider spending less on things to drive more sales and make sure your contractual responsibilities are met – starting with a contract template is the easiest and most affordable way to do this.
If you haven’t had your contract reviewed since the pandemic begun, now is probably a good time to revisit it and make some amendments. I recommend annually or bi-annually reviewing your contracts.
Other reasons to change your current contract include changes or additions to your services (particularly if you’ve expanded into training – see THIS BLOG for more on that), increases in your prices or changes in the way they are paid, or if your insurance broker changes your cover.
To see our options for wedding industry contract templates, CLICK HERE – if you’re reading this before 12th April 2021 then lucky you as our prices will be increasing! Grab your contract now to lock in the current price. If you don’t see one that fits what you do exactly, don’t hesitate to send us a message on Instagram (@stanfordgouldgroup) or Facebook (Stanford Gould Limited) – we will be introducing a set of new contracts within the coming months, so we can advise on whether we’ll have one for you in the near future!
With thanks again to Donna at the Society of Professional Wedding Vendors.
Your Legal Fairy Godmother