Despite the fact that there are fewer and fewer marriages, weddings are still a very interesting market for many businesses that take advantage of this special day in the lives of two people (especially the first time). We are going to review some business ideas around weddings that we had already detailed on the blog and add some others, beyond the classics such as photography, catering, or music.
Last year, more than 160,000 marriages were celebrated in the USA, among which about 3,000 between people of the same sex. The number of links varies greatly from one year to another, depending on elements such as the economic situation, the evolution of the population pyramid, or cultural changes regarding the concept of marriage.
To put some more specific data, according to the INE, almost 261,000 weddings were celebrated in 1976. In 2004 this number had dropped to about 216,000 (17% less). But then came the economic crisis and ten years later, in 2014, the number of heterosexual marriages (to maintain a comparable figure) was just over 158,000. In other words, in ten years the number of weddings fell by 27%.
It is quite probable that the economic recovery will lead to an increase in weddings, and that perhaps in a few years we will be talking about figures around 180,000 a year. If we add to that that some organizations such as FUCI estimate that the average expenditure is higher than € 15,000 per wedding, we would be talking about a market of approximately 2,700 million euros. Surely there is more than one way to get a piece out of the cake. Here are the top 5 business ideas around weddings
Organizing weddings is a business that can be very profitable, and the good thing is that the way to charge for the service is indirect: instead of charging a fee to the client, what is usually done is to negotiate commissions with the main suppliers (catering, decoration, music, flowers, photographer). Of course, it is a business that works a lot by personal recommendation, so it is essential to always focus on the requirements of the couple, to offer them the best experience.
If you are interested, detail many elements of the business plan for a wedding planning company on my professional blog.
Ecological and Solidarity Wedding
For many people, the wedding is a day where no expense is spared and a certain opulence is sought. The problem is that this often results in some excesses, mainly on the subject of food. I think we have all been able to experience how in Spain there is a lot of food leftover from the banquet, and that many times the surplus is simply thrown away. There is also usually a great display of lights, luxury cars are used, etc.
I believe that for all these reasons, there is a market niche for those concerned about their social and environmental impact. It would be about organizing solidarity and ecological weddings, where simple measures are taken such as having an agreement to give away the food that may be leftover, involving the guests in some solidarity action, having a lower energy impact, etc.
Online Wedding Cake Store
The cake is usually a high point in the development of the event, and many couples look for something original and personalized. Having a specialized online store could be an excellent showcase to attract customers from all over the area. The cakes often cost around € 200 (although it depends on the size), so the annual turnover would be interesting.
Second-hand Wedding Dress Store
I presented this idea on the blog a few years ago. It is based on a simple fact: the wedding dress is worn only once, and therefore in theory it could be an excellent candidate to have a second life being reused by another bride at another wedding. I say in theory because it is clear that a large majority of people prefer to keep it despite the investment is involved. But there is a niche market that can be exploited.
Luxury Car Rental
The wedding is a special day, and many grooms like the idea of arriving at church, town hall, or registration with a special vehicle, such as a limousine or other luxury wedding limo Castle Rock. It is again a market niche, probably with greater possibilities in large cities, but which also has potential, especially if you have a wide portfolio of vehicles, from sports cars to classic cars, in agreement with professionals and individuals.
So these were the most popular business ideas around weddings