Weddings: Big Business

With this week marking the countdown to the "wedding of the century" and dubbed "Royal Wedding Week," I as an event planner and aspiring wedding planner had to do my part being a part of the extravaganza. On the SOA Event Blog on Tumblr, we discuss different wedding details: royal wedding dresses, locations, etc. On The Unemployed Entrepreneur, we'll be discussing more of the business side of the royal wedding and weddings in general. So sit back and enjoy as I and we take you on a journey into weddings!

Weddings: Big Business

-The average wedding costs approximately $29,000 dollars compare that to the $6.4 million dollars it cost for Lady Diana and Prince Charles' wedding in 1981!

-Brides will spend an average of $1000 and upwards to $10,000 on her wedding dress. Price is determined on how ornate the design, the designer, location, and season. Diana's silk dress with 25 foot train cost $115,000. Speculations estimate Kate Middleton's dress to be twice that amount.

-A man will choose a stone carat (typically a diamond) at an average size of 2.0 carats. The Duchess of Windsor, Wallis Simpson was given a 19.77 carat diamond and emerald engagement ring by her beloved Edward VIII.

-Most newlywed couples travel to the Caribbean's for their honeymoon. The Royal Family has traveled to their own estates in England and surrounding countries.

-The average couple will be together for about 1.5 years before getting engaged. Diana and Charles were together for about 6 months. Kate and William dated for NINE years before he finally proposed!

As you can see, weddings are big business. The average wedding takes a lot of time, energy, and money to put together. But as I posted in Royal Weddings: The Original Stimulus Package, weddings don't just take a lot of money but they make money too. Between the publications, fashions, memorabilia, food, flowers, and trends the wedding industry is a $40 billion industry that is continuing to grow annually. With more celebrities creating trends and brides wanting newer more unique weddings, it's no wonder a bride is willing to spend a small fortune for her "perfect day."

Not sure what the estimated wedding costs will be for Prince William and Kate Middleton, but whatever it is it will reflect the grandeur of the occasion.

The Unemployed Entrepreneur