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Q. What is the average amount spent on weddings each year? What are the advantages, and pitfalls of the consulting industry? In general, or specifically, what should I know about this industry? And would you consider business to be sporadic, or relatively consistent?
 

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.

 

 

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