People ask me, why I think a wedding venue is a good business to start, most are skeptical on how this type of business can be successful, and others just plain think I am crazy when I tell them my plans. Check out these numbers what do you think? Do wedding business's making a profit?

Wedding Industry Overview

With more than 2.5 million weddings per year in the U.S. and an average budget per wedding of nearly $30,000, according to The Wedding Report, Inc., the wedding event rental industry has always thrived.  It is estimated that between $40 and $90 billion is spent annually on American weddings.  For reception site rentals, an average of $8,000 is spent per event, with rentals being much higher in major metropolitan areas of the northeastern U.S., according to a study compiled by Jaeger Interactive Communications.  The average wedding cost in Cullman, Alabama is $19.245 with the wedding and reception venue costs averaging about 13.5%, or $2,295, of that cost.

Opinions vary on the effect of recent economic conditions on the U.S. wedding industry.  The wedding industry may be recession-proof, but wedding budgets are not.  Some analysts predict that wedding industry revenue will remain consistent year-over-year and may even enjoy a spike due to marriages by the children of baby boomers.  According to the National Association of Catering Executives, however, 48% say they have seen a decline in recent wedding spending.  Experts agree that brides, grooms and planners are concerned with saving money and getting the best value on their special day.  Understandably, brides, grooms and planners alike will look for more cost-effective event venue options into the near future. 

Brides and grooms may decide to move forward with the ceremony, but there is increasing evidence of efforts to save:

·         Haggling with wedding vendors

·         Buying wedding supplies online

·         Using discount merchants

·         Doing more of the work themselves