A.
I will
answer your questions as best I can. The answer to all of your questions will
depend on where you are located (or planning to locate your business for the
assignment). Generally, a business located in a large city will be much
different from one located in a mid-sized city or a small town. I personally
live in a mid-sized city in the Northwest, so that is the market that I
researched for my business plan and that I know best.
1. The average amount spent on a wedding varies greatly from one area of the
country to another and one city to another. The majority of weddings,
statistically, are fairly inexpensive. The big country club reception is the
exception rather than the rule (however, it only takes one $50,000 wedding to
skew the statistics even if there are many weddings that cost $2,000 or $3,000).
The amount spent will also depend on whether the marriage is the first marriage
for the bride. In my state, the last figures available are for 1998 and they
indicate that over 46% of weddings in this state are for second time (or more)
brides. Generally, a second-time bride will not have as large or as lavish a
wedding. In my area, the average wedding (first time bride) runs between $8,000
and $10,000. A wedding that costs $20,000 or more is the exception. Many
couples choose to simply be married in a judge's chambers or have a simple
ceremony in a back yard (just the type of wedding that I did today). You should
be able to obtain figures (possibly on the Internet) from your state Vital
Statistics bureau that will tell you how many marriage licenses are issued by
county, whether they are first marriages, and the age of the bride.
2. The advantages of the industry are that you get to help people have a
beautiful event without the stress and pressure of having to do everything
themselves. The biggest pitfall is that it can be very physically draining when
you are on your feet for hours at a time, often without anything to eat.
3. You should be aware of several things. First, hiring a coordinator is a
luxury. If the economy goes down, people will choose to use their money for
other things. Also, when starting out, you can't make your prices too high or
people won't hire you. Start out at a reasonable rate, then increase your
prices. Most of us raise prices each year. You may have to spend time
educating the public to the advantages of hiring a coordinator. You need to be
very detail-oriented, flexible, and able to get along with all types of people.
Finally, don't try to offer too many services. One person can't do all things
well. If planning and coordinating is your primary activity, stick to it and
use the services of florists, bakers, decorators, rental centers, and other
professionals who know their craft better than you do.
4. The seasonality of business will depend on where you are located. In my
area, about 70% of weddings occur between mid-May and the end of September, then
it really falls off. In warmer climates and large cities, business is more
steady. In small towns, a coordinator may only do 3 or 4 weddings a year, if
that many. In my area, I spend the time from October to April on the planning
for the summer weddings, then the summer is primarily devoted to executing the
weddings. Brides are getting better about booking early, so I am now booking
for 2002, though we may not have too many meetings with merchants until fall,
since everyone is so busy right now.