Well my daughter is getting married next year! And yes, I'm extremely excited about this fact since I really like the guy that she's marrying and I think they'll both be very happy. But, at the same time I have to figure out how to pay for this great event without going into debt. The average cost of a wedding these days can be anywhere from $25,000.00 on up and I can't afford to go that high without going into major debt.
So, I decided to list all of the typical things that are part of the wedding celebration and costs involved to see what I was up against. With today's prices being what they are (which is high) and everything that it takes to make up a beautiful reception, I've got to figure out more creative ways to tackle this project. You see, I think of this as a 'project' since I've been in marketing for decades now and approach everything as if it's a marketing plan. I list out the identifiable goal, the associated budget I have to work with, and what I need to accomplish my goal without going over budget.
In this case, there are some basic large committments that have to be considered in order to reach our goal of a beautiful, elegant wedding reception and still stay under our target budget of $17,500.00. That said, we also have to take into account the bride and groom's ideas of having the ceremony outdoors and keeping the guest list to between 150 and 200 people. They don't want a huge wedding (which is a good thing), and really want to be able to celebrate this occassion with only family and friends that they actually know and care about. They don't want to have to wonder who someone is when they thank them for coming.
Having an outdoor wedding can be good or bad, depending on the location and the weather. The venue should have a beautiful area outside where we can have the ceremony take place, yet be flexible enough to be able to move it indoors should unexpected weather problems occur. I also found that by finding a place that has one price for both the food and beverages (including alchohol), it would save us from worrying about what the final cost of the bar bill would be at the end of the evening.
There are actually several main items I need to budget for since we are having an outdoor ceremony and won't have to pay for a church service fee (which can range anywhere from $500 and up). We also won't require a limo because the ceremony and reception will be at the same site. That will save us another $900 or so.) Savings here: $1500.00)
1. Wedding Reception Venue - Estimated Cost: $12,000.00 (Should include the following items: Rental Fee, Tablecloths, Chair Covers (optional), Food, Beverages, Open Bar, plus the cost of Servers and tips.) We found a beautiful English Manor that we can rent which has a lovely outdoor patio big enough for a reception, can accommodate up to 150 guests and they work with a reputable caterer that can handle everything for $75 per person. This would be perfect and fits in our budget!
2. Printing (Invitations/Response Cards/Envelopes, etc.) & Postage - Estimated Cost: $1,000.00, depending on the stationery, amount needed, etc. (And, don't forget the stamps for the invitation envelopes and the RSVP envelopes.) In discussions right now with a printing company who may be willing to do this at no cost to us if we are willing to have the name of the company on the back of each invitation and thank them publicly on Facebook and Twitter! Cost for printing services = $0; Approximate Postage = $100.00
3. Flowers & Decorations (Bridal Bouquet, Corsages, Centerpeices, etc.) - Estimated cost: $2,000.00. However, if we use more "greens" and less actual flowers, and make our own centerpeices, I think we can end up cutting this cost in half. (I also plan to schedule some time to visit with some local florists to see if I can't trade my marketing services or get them to be a sponsor and promote their shops via the social media channels.)
4. Music (DJ / Band) - Estimated Cost: $1,500.00. However, in this case the bride and groom are going to put together there own music cd's and all we'll need to find is someone to be in charge of making sure everything streams well together. My brother, who happens to be an Intellectual Propery Attorney AND a whiz at this sort of thing has offered to do this during the reception at no cost. (We may however look to see if we can't get someone in at a discount so he can enjoy himself instead of worrying about the music.) Budgeted cost: $500.00
5. Photographer - Estimated Cost: $3,500.00. You'll want a good, experienced wedding photographer since you will have the pictures as a visual document to show your children, grandchildren and to remind you of this special event in your life forever. (My cost = $0, since I'm bartering marketing services with her photography services.)
6. Cake - You should call around to bakeries close to the location of the venue to get an idea of cost and delivery charges involved. Estimated Cost: $500.00 and up. It just so happens that my sister is Dean of Student Services at an institution that teaches culinary students and guess what? That's right, her students specialize in cakes! So by getting her students to make the wedding cake and buying a few sheet cakes at Costco so that they can be cut up in the kitchen and then served to the guests, the total cost should be no more then $100.00!
7. Miscellaneous - Wedding gown, Rings, Tuxedo rentals, place cards, menus, minister/officiant fee, honeymoon, etc. (All of these expenses are being left to the bride and groom to cover. :-).
In business, when I'm looking to fund a project, I also figure out who I could partner with that would want to participate and benefit from an event. As a result, would also be willing to fund some of the items to offset the overall cost of the event. But who would be interested in sponsoring a wedding and what would they get out of it?
After doing some research, to my surprise, more and more companies are willing to "sponsor" personal events so that they can get brand awareness from the guests or "attendees" of a wedding or reunion. For instance, I found that if you're willing to simply promote their businesses through some social media resources such as Facebook and Twitter after the event thanking them publicly, they may consider working with you.
Judith Ann Graham, author of My Bride Guide, says that sponsored weddings can be a great way to save. "The whole point of getting things that are economically more feasible to us is very appealing," Graham said. And, Retail experts say the idea will be appealing to sponsors, too, especially smaller, newer companies. "What a wonderful way to get your card, your logo, your brand out there to the general public," said Scott Krugman, of the National Retail Federation.
Some vendors are also willing to barter for services too. I found that the wedding photographer I really wanted to use was looking to expand her business and was willing to drastically reduce her rate to me if I would be willing to help her market her photography services to obtain new clients. Done. I signed a contract stating that she would be the photographer at my daughter's wedding and drew up a marketing strategy plan to help promote her services targeting bridal boutiques, flower shops, etc.
Hopefully the wedding reception will be everything they want it to be and more. (And at the same time won't send me to the poorhouse . . .)
Wish me luck!
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