Getting into the wedding industry right now makes a lot of sense. Not only is there money flowing into it, but the decades-long decline in marriages is likely coming to an end, with a sharp reversal in sight as culture and society change once again. More happy couples are now ready to fully commit in marriage.
But what are the main reasons for people getting into this industry? Why does it attract so many career-minded individuals?
The wedding industry is among the most recession-resistant in the world. Even with economic pressure, people continue to get married and start their lives together.
What’s more, despite the rising cost of the average wedding being more than $35,000, people continue to pay those sort of fees to tie the knot. And that money mainly goes to vendors and venues, not third-parties outside of the industry.
Then, there’s the fact that pent-up demand is a real thing. Despite it being nearly five years since the pandemic, people are still looking to tie the knot and stop postponing their weddings and finally make them happen.
What this means is that right now, the wedding market is booming. It’s bumper season for a lot of vendors and businesses in the industry. The collapse in wedding attendance in 2020-2022 is still being felt today.
The idea of micro-wedding is also out right now. Most brides are looking for ceremonies with at least 150-300 people in attendance, which naturally pushes up the cost and draws in more vendors and service providers.
For example, a lot of couples are willing to spend thousands on floral arrangements. Others are okay with dropping a couple of thousand on a DJ.
The idea, though, that a wedding can cost $10k and be done in a backyard is fading fast. Nobody seems to be interested in ideas like that anymore.
Furthermore, there are opportunities to get into the wedding industry everywhere. For example, you could become a wedding officiant if you literally wanted to preside over the ceremony, or you could do photography, catering, floral arrangements, planning, and stationery. The field is right open and there are still opportunities in all of these categories in most areas, especially if you can offer something a little unique and unusual.
Another big benefit is that you can start a wedding business almost immediately. Most don’t require much to set up. All you need to do is get the ball rolling.
For example, officiants can learn online for a small fee. You could also transition from a TikTok creator to a videographer and then charge a fee for posting your creations on social media.
Lastly, you can often get repeat business if you do a good job. If the bridesmaids and groomsmen like what they see, they will also likely use your service in the future. This means you don’t need to worry a great deal about things like marketing and ads. Your business and customers do all that for you.
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