Wednesday, June 20, 2007

Cash in on I Do

From Entreprenuer Magazine and MSNBC.com comes an article entitled:

"Cash in on 'I Do': These 43 emerging and well-established businesses help couples tie the knot--and could help you turn a profit."

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├ęcor company and DJ.

Want to cash in on this growing industry? Click here for a list of 43 ways you could get involved and to read the entire piece.

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