Apparently, people who get married are spending more for their weddings. Every year for the last ten years, the wedding planning website TheKnot.com polls brides and grooms for its Real Weddings Study. This year 13,000 real brides and real grooms were surveyed, and if you are the purveyor of any products or services that cater to the wedding industry, you should be encouraged. Couples are spending money and a pile of it to say, “I do” on their big day.
Here are a few of the highlights from The Knot’s 2016 Real Weddings Study.
• In 2016, the average cost of a U.S. American wedding was $35,329 (that is not including the honeymoon). This amount reflects an 8% increase over the previous year.
• Assuming a median income of $54,000, it is not far-fetched for couples to spend more than half of their yearly wages on their wedding.
• Geography matters. Couples who get married in Manhattan spend the most at $78,464. The most affordable place is Arkansas where the average wedding costs $19,522.
• More and more couples are avoiding the summer months and opting for September and October nuptials.
• With an average price tag of $16,107, the reception continues to be the most expensive part of a wedding.
• The runner-up for costliest wedding item goes to the engagement ring. The average cost rang in at $6,163.
• Even though the groom’s attire is only $280, brides are spending more on their dresses at $1,564.
• The tradition of getting mommy and daddy to fork over some financial assistance to fund a couple’s wedding continues. A minuscule 10% of couples ultimately paid for their wedding on their own.
As the owner of a dry cleaning establishment, what does all of this mean for you and your business? I do not know about you, but if I were in your shoes, I would want to grab a piece of that pie. If you are not already doing so, begin marketing yourself to real would-be brides and real would-be grooms that want to have real weddings. They are spending more money on their marriages, and it is just a matter of strategically positioning your business to capitalize on this growing trend.
Let’s take a few minutes and brainstorm together about ways to get paid.
• Wedding gown cleaning, repairs (you would be surprised how wild it gets at wedding receptions) and preservation.
• Pre-wedding wardrobe alterations for the bride’s wedding party and key family members of both the bride and groom.
• Providing an on-site tailor during the big day to help out with potential wardrobe malfunctions. (Remember the Janet Jackson/Justin Timberlake half-time show at Super Bowl XXXVIII)?
• If the couple is budget conscious and doesn’t want to spend a whole lot of money to keep you on-site, you could offer to be on-call for any “clothing emergencies” at a reduced price.
• Arrange to meet the newlyweds at the airport upon returning from their honeymoon. At this time you will take their suitcases full of dirty clothes so you can do what you do best.
If there are some bridal/wedding services you currently provide that are proven money-makers and would like to share them with your fellow readers, please send me an email.
Next month, we will explore ways to connect and network with other wedding service providers and bridal care specialists. The possibilities for shameless cross-promotion are plentiful and worthwhile.