As in previous years I chaired a Mentor panel today as part of the New Ventures BC competition. It was great to see half a dozen of the final companies present their story and have the opportunity to comment. My fellow mentors and I aim to provide feedback which helps the competitors refine their story and maybe get through to the final round of the competition.
One of the competitors I saw today has a business around weddings. This stirred a thought about the subject. (By the way, that business looks really interesting, if you are in the market to have a wedding, or supply one, you should definitely check it out!) The truly staggering thing about weddings is the increasing amount of money people spend on them (Undeniably a huge market!). Sources vary on this but spending $25,000 or more is not uncommon. This doesn’t include the honeymoon – but blow out trips of a lifetime I’ll get to later.
This is a lot of money for one day. The return on this money is also questionable for the Father of the Bride who, traditionally at least, picks up the tab. My struggle with this is that much of what is spent on that one day has zero longevity. This is kind of ironic given it’s meant to be something the couple commit to for life. Of course none of this is exactly: news.
All this may be why I like the concept of going off on a big holiday and getting married whilst you are away. It saves a lot of money for sure and also means that you and your bride get value for money(!). I wonder though, is there a market for something called Wedding Legacies? Take the $25,000 and do something different, i.e. plant some trees. In many cases the trees will outlive the marriage!
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