Cash In on 'I Do'
Learn how to invest your IRA or 401k into a franchise penalty-free. ($50k min)
These days, weddings aren't just about the bride and groom; they're big business. According to a founder of the Association of Bridal Consultants, 43 different businesses are involved in creating the average wedding. And with destination weddings on the rise, wedding festivities are becoming more like family reunions.
All of that means bigger budgets. According to The Knot, the average wedding costs approximately $25,000. As a whole, the U.S. wedding industry brings in about $72 billion each year, with more than 2 million couples taking the plunge annually. Carley Roney, editor-in-chief of The Knot, says brides and grooms are contributing more to the wedding event when it comes to both paying and planning.
One thing hasn't changed: Word of mouth is still the best form of advertising for wedding businesses. "Brides speak to each other," says Roney. "They're waiting to hear confirmation on a potential vendor from someone they trust." As a result, many wedding vendors working in the same region develop a network. For instance, a wedding photographer could recommend a florist, d�cor company and DJ.
Want to cash in on this growing industry? Click here for a list of 43 ways you could get involved.
Are you looking for a low-cost wedding business to start, or perhaps one that's service-oriented? Click on any of the following links for businesses by category.
- Low-cost startups
- Home based businesses
- Product-oriented businesses
- Service-oriented businesses
- Planning and advising
- Favors and accessories
- Creative and artistic
Is Creating Wedded Bliss In Your Future?
Wedding planners and industry experts warn it's not all fun. You'll likely have to give up your weekends. And stressed brides aren't always the easiest to work with. But if you decide the industry is for you, check out wedding directory websites like The Knot, WeddingChannel and WedAlert. You can also tap into the minds of brides by looking at bridal blogs like Weddingbee or Manolo For the Brides.
For reprints and licensing questions, click here.