The cost of doing business

I was just reading a wedding planner blog and found this fantastic paragraph that I want to highlight. The reason this caught my eye is:

1 - you can put yourself in the shoes of a wedding planner and see how many "HOURS" are put into the simple, 'day of coordination'

2 - you can see how their fee, worked backwards, pays them almost nothing

3 - you can then see why low fees mean you get low paid vendors, which means... you either get someone without a lot of experience (which is fine if you are aware of that), or someone who isn't really math saavy who may be overcommiting and going to get burned out real fast when they realize they aren't making enough money to survive and be passionate about what they do!

$8-9/hour, depending on where you live, is most likely going to be unskilled labor. Fast food, retail, someone who files papers.

If you want to get someone with tremendous experience at complex events like weddings you are going to have to pay well, with the idea that you are going to get a lot more for your money.

The paragraph is taken from this wedding planning blog.

Charge what you are worth. Take time to figure out how much money you want to make per hour then multiply it times 3. That is a very rough estimate of what your clients need to pay you. You will pay almost 30% for taxes alone plus all your business expenses before you can pay yourself. For example, if you charge $500 for wedding day coordination that includes the final walk-through, rehearsal and 10 hours on the wedding day plus a few meetings with your bride, creating time lines and confirming vendors, you end up with around $25 or so per hour before taxes/expenses. Take your taxes and business expenses from that and you make about $8-$9 hour. AND that does not include paying an assistant. Isn't all your hard work worth more than that? I sure hope so, even as a novice.

Simple wedding budget tip

If you know how much you can spend on a wedding dress, follow these rules:

• tell your sales person that you can not go a penny over and do not want to see any dress above that rate
• if you aren't sure of the wedding dress shop, call and find out their wedding dress options in YOUR price point. maybe call ones you know are high end to get a sense of how many dresses in your price point they would even carry
• do not shop at stores where you've got free range to look at all dresses in all price points (or rather, do not look but let your sales person or wedding party pick out dresses in your price point)
• find designers who sell dresses at your price point, then go to their websites and find the retailers that sell their dresses.
• do not try on a high priced dress out of curiosity. It can sometimes really mess with our minds to see a high end item and all the sudden see our "favorite" in a new, less attractive light
• do confirm if you have any restrictions from your religious institution
• talk with your fiance on whether he has any strong feelings about general style (great example is whether the two of you agree on whether brides should have clevage or not!)
• once you commit to a dress do NOT TRY ON ANY MORE WEDDING DRESSES. There is no faster way to lose money than to have to sell a dress because you bought a second one.

Wedding Trends for 2009

Here is a short list of expected trends for 2009 from The Wedding Report which says the average wedding will be between $21,000-$25,000. The wedding budgets for 2009 have dropped and here is where the "drop" will be seen:

• Smaller weddings with fewer guests
• Destination weddings or destination type weddings closer to home
• Accent colors on dresses and cakes with the most popular being greens and blues
• Increased reliance on family and friends to help plan, pay, and provide some of the services
• Increased use of green and echo friendly products and services
• Simplified decorations, centerpieces and wedding invitations
• Increased use of on-line RSVP's vs. traditional mail-in RSVPs
• Off-peak weddings; Mornings, Afternoons, Fridays, Sundays, October becomes the new June
• Buffet meals, Hors d'oeuvre, and cocktail receptions
• Cheesecakes, cupcakes and miniature cakes
• All-inclusive packages

Bridal Budget | Brides on a Budget

Just wrote up a new article on wedding budgets. It's a work in progress, trying to figure out the best way to mock up what I did for my wedding... I was able to calculate my "definite", "Maybe", and "unsure" invitation list and see exactly how much my budget would be when food budget changed as well as invite costs changed (having to buy in groups of 25.) Then you have to add if you have 8 person tables, every 8 new people represents not just 8 more meals, but a NEW table, new centerpiece, more wedding favors, more chair rentals, and may impact where you need to have your reception (or, too few people in too large creates a bad atmosphere... too empty.)

My ideal bridal budget for you would also include REGIONAL averages instead of national. The bridal budget worksheet would also include ranges so you could get a super rough idea playing with your priorities. For example, you can print your own invitations for maybe 50 cents, or buy super high end ones for $5 each. In my metro area, you can get a dinner for $15/person, for a lower end rate, or you could spend $50/person (or more) in a hotel setting. Photography can be bare bones for 2-3 hours, or can be an all day package. When I do this bridal budget worksheet, I'd let people add in their own rates and share with me what your regional numbers are so I could make bridal budget worksheets by region!

Bridal budget worksheets are very hard to find online in part because prices vary so widely based on a region. My idea of "ranges" by category also creates SO many possibilities it may be hard for math sufferers, or non-techie brides who get confused with all the options... (like high end invites, but low end food, etc.)

I'll get there some day! If you have any help for that project, send'em along. www.thefirstdance.com/contact-us.php