Are you looking for wedding business ideas? The list below can help you find one.
The wedding industry in the United States is a big industry. The wedding services industry facilitates millions of weddings, employs thousands, and generates billions in revenue. As per the IBIS World, the market size of the wedding industry in the United States is $70.3 billion as of 2023.
After two years of major disruption, 2022 was a boom for the wedding industry and marked a return to “pre-pandemic” norms.
Profitable Wedding Related Business Ideas
Weddings are cherished events that unite families and friends to celebrate love and happiness. For couples, the planning process can be overwhelming, and makes them take assistance from specialized companies, and here lies the business opportunity for aspiring entrepreneurs. By offering services related to wedding planning or specialized products, entrepreneurs can decrease stress and ensure that every big day’s detail is meticulously executed.
Here is the list of best wedding-related business ideas that are not only profitable but can be started with a low budget.
1. Wedding Planner
Wedding planning services are required in order for a couple’s big day to go smoothly. Wedding planning starts by selecting the right venue, followed by making arrangements for the ceremony, reception, entertainment options, or catering services.
Some people find it difficult to organize even smaller parties. If organizing parties and events is your skill then a wedding planning business will ideally suit you. You have to help couples with all the aspects of their big day including theme, attire, colors, venue, and food.
In the United States, 27% of couples getting married hire a professional wedding planner, with day-of planners being the most in demand, and the average cost of a wedding planner is $1,850.
2. Bridal Wear Business
The bridal wear business is highly profitable but equally competitive. You can have an offline or online presence or both. Some of the important bridal wear items include innovative jewelry, hair accessories, shoes, bridal lingerie, clutch bag, and more.
Some of the major factors expected to benefit market prospects in the future are growing demand for innovative and novel wedding jewelry, increased focus on engaged couples, constant increase in average spending on weddings, the growing prominence of e-commerce, and more.
The United States currently accounts for a 44.16% share of bridal wear in the global market. in 2022, the Bridal Wear market in the United States was estimated at US$27 billion.
3. Wedding Caterer
If you are passionate about cooking and like to prepare delicious food, then starting a wedding catering business makes sense. This is one of the most lucrative wedding-related business ideas with high returns for an entrepreneur. Catering companies have cheaper costs for food and labor, hence they high-profit margin than restaurants.
Weddings generate the most revenue for catering companies.
4. Bridal Make-up Artist
For every bride, flawless wedding makeup that lasts throughout the day and night is a coveted desire. For this reason, an increasing number of brides hire bridal hair and makeup artists to enhance the beauty of their entire entourage.
As the wedding industry continues to flourish, the demand for skilled bridal makeup artists will increase in the future. The services of professional bridal makeup artists will remain in high demand in the years to come.
5. Wedding Photographer/Videographer
If you have good photography skills, you can think of venturing into this lucrative business. Couples are giving high priority to capturing wedding day photos. The rising production of high-quality photo albums that are customizable has helped to generate traction. You should possess technical expertise, an artistic eye, and the ability to capture emotions and candid moments.
The demand for high-quality wedding videos is increasing and this is a rewarding opportunity for talented videographers to showcase their skills.
6. Wedding DJ Service
A DJ is a must for a wedding ceremony and adds to the energy and entertainment of the venue. Wedding DJs curate playlists that cater to the diverse tastes of the guests and ensure a memorable experience for everyone. Your earning will depend on your experience, the wedding type, negotiating skills, and the frequency at which you can work.
7. Wedding Cake Making
If you love baking, then this low-cost business is just perfect for you. This business is easy to start and can be operated from home. Wedding cake is a bit more work than your regular party cake, as customers will rely on you to determine the size of the cake to cater to 100+ guests.
The wedding cake business involves creating unique and beautifully designed cakes that are in sync with the theme and style of the wedding.
Many wedding cakes usually sell for as much as $500 each or even more, and they cost just 20% of the retail value. The fastest way to establish the business is to build partnerships with wedding planners and caterers, even though you will have to split the revenue or sell the wedding cakes on a wholesale basis.
8. Wedding Floral designer
This is another low-cost and easy-to-start business related to weddings if your passion for horticulture. As a floral designer, you will choose flowers and related decorative accessories that work best with the wedding event, season, and venue and are as per the preferences of the couple.
You will have the responsibility of delivering them to the venue. The task will include storing the flowers at your home and a vehicle for transport.
As per salary.com, the median salary of a floral designer is $53,000.
9. Wedding Blogger
If you have natural skills in writing and are good at marketing and advertisement, you should think of a blog related to the wedding. It is a low-cost business with great earning potential, but it’s a lot of hard work and persistence before you actually start earning. Many bloggers earn more than $10,00 a month consistently.
There are multiple ways you can earn through blogging like display ads, sponsorships, affiliate marketing, collaborating with vendors, selling your own products, etc. Blogging is a long-term game and not a get-rich-quickly scheme. If you can consistently put in hard work for a year or two, you can think of starting a wedding blog.
10. Wedding Favor Business
A wedding favor adds a touch of appreciation and charm to the guests’ experience. The wedding favor business involves creating and providing unique and memorable tokens of gratitude for guests to take home.
You must be a creative person and must make favors as per individual preferences. Delightful favors will enhance guests’ enjoyment and will create a lasting reminder of the couple’s special day.
As per the Knot, based on a survey of nearly 12,000 newlyweds who got married in 2022, the average cost of wedding favors and gifts was $440.
11. Wedding Venue Renting Business
If you have a good-looking big space, then you start a business by renting it out for wedding events. Of course, you have to make initial investments, but the rewards are many folds. To augment the rental income, you should provide additional facilities. Customers won’t mind much to pay you an extra amount if you provide good services.
12. Wedding Gift Making
If you are good at making crafts and have expertise in it, you can surely consider this business, which requires low start-up capital. This business involves crafting unique and customized presents that are in sync with the couple’s love story and individuality. This may include handmade keepsakes, custom artwork, home decor, sentimental items, and more. The ability to capture the couple’s essence is the key to success.
13. Honeymoon Planner
Though the honeymoon is a post-wedding event, essentially part of the wedding for married couples. Some couples may prefer simpler, shorter trips while others may go for luxurious and exotic destinations. As a honeymoon planner, your responsibility will be to decide on the right destination as per the comfort and budget of the couple.
14. Wedding Car Rental Business
As the couple always wants to make their big day very special, luxury cars are in good demand during the wedding season. The initial investment is huge but returns are equally attractive.
If you want to venture into the car rental business, make sure you check out your competition and determine what type of cars people tend to rent in your city. In addition, keep in mind that chauffeuring the newlyweds requires additional staff.
Why you should start a wedding-related business
The wedding industry is a big market and couples allocate the most substantial portion of their budget towards venue, catering, and photography/videography. Of late destination weddings have gained traction with couples opting for picturesque locations and unique experiences. It is an evolving industry with an increasing emphasis on personalization, technology integration, and sustainability, allowing couples to reflect their individuality.
Some of the interesting wedding industry statistics related to the United States are as under.
| Wedding Industry Statistics in 2023 (U.S.) | |
| Wedding Services market size | $70.3 billion |
| The average cost of a wedding (as of 2022) | $29,195 |
| The number of weddings in 2022 | 2,401,148 |
| The average amount spent on wedding rings (as of 2020) | $3,756 |
| The average cost of a wedding venue (as of 2021) | $10, 700 |
| Wedding Services Industry businesses (as of 2023) | 413, 597 |
Pros and Cons of Wedding-Related Business
| Pros | Cons |
| Huge Market: It’s a multi-billion dollar industry, with numerous niches to specialise in. | Very High Competition: Presence of many vendors and businesses makes it difficult to stand out and attract customers. |
| Personalization & Creativity: Allows you to showcase your artistic skills and bring the couple’s vision to life. | Seasonal Nature: As marriages take place during certain months, there can be fluctuation in revenue. |
| Meaningful work: You participate in the happiest moments in people’s lives, spreading joy and creating lasting memories. | Logistical challenges: Plan execution can be complex and demanding, requiring strong organizational skills and attention to minute details. |
| Repeat Business: Satisfied couples often refer vendors and services to friends and family. | High Pressure: Require meticulous planning, attention to detail, and working under time deadlines. |
| Networking Opportunities: Possibilities to create collaborations and partnerships that can benefit your business. |
Frequently Asked Questions
1. How to make money in the wedding industry?
There are numerous ways to make money in the wedding industry. Below is the list of services you can offer in the wedding industry and make good money.
1. Wedding Planner
2. Bridal Wears Business
3. Wedding Catering
4. Bridal Make-up Artist
5. Wedding Photographer/Videographer
6. Wedding DJ Service
7. Wedding Cake Making
8. Wedding Floral designer
9.Wedding Blogger
10.Wedding Favor Business
11.Wedding Venue Renting Business
12.Wedding Gift Making
13.Honeymoon Planner
14.Wedding Car Rental Business
2. Is the wedding industry profitable?
Yes, the wedding industry is generally considered profitable. It is a huge market and the average cost of a wedding in the United States as of 2022 was $29,195. The profitability of your business will depend on the business’s reputation, location, market trends, and other related factors.
Conclusion
The wedding business offers a wide range of opportunities for aspiring businessman. It is important to weigh all pros and cons before you start. The industry is highly competitive in nature. It is advisable to check your own area of expertise and investment capacity before you make the final decision.