by jcookston, Performer
- Created: July 18, 2011, 4:43 pm
- Updated: January 27, 2015, 10:47 am
I've been in the Wedding Industry as a Photographer for 5 years now and every year I book more Weddings. This year I've booked 29 Weddings at an average price point of $4,000. This industry seems so healthy and vibrant it's interesting to me that more companies don't take advantage of it. I parallel this industry with buying a car: On average we buy cars with a price point of $20-$30k, Weddings in my area have a median price point of $20-$30K yet I don't see Wedding companies on every corner like auto dealerships.
As a photographer the venue is the MOST important aspect of the Wedding Day. A majority of the venues in my area are dated with a small number being relatively new. The newer locations book 75-150 Weddings every year with a price point of $20-$30k per event. I called all of the major venues here and they quoted me these numbers. Astounding numbers I think for this economy...
So, long story I know... I'm looking to build a new venue that offers a completely different aesthetic. This space would serve all functions of a Wedding Day and be built with photography and imagery as the primary selling point. The aesthetic is the main selling point, not the idea of building just another venue with little to no care in terms of design and aesthetic. Another HUGE selling point is the use of social media. All of these local venues have terrible, and I mean awful, web presence. Images are dated, information is hard to find... the overall presence is stagnant.
I started my business renting camera equipment 5 years ago and have grown a very healthy revenue stream from Zero funds upfront. Unlike the photography niche, where anyone can buy a camera for $500, this niche requires significant financing. I expect the development to be at least $1 million in expenses.
I have a business plan, market analysis and potential revenue for 3, 5 and 7 years out....
Should I mainly look at private investors for this type of business or should I seek Gov/Bank financing OR Both?
Thanks in advance for your input.
This post was edited to remove a link. Please review our Community Best Practices for more information about how best to participate in our online discussions. Thank you.)
Comments have been locked for this thread.
- Community Home
- Discussion Boards
- Tell Us...
- Discuss Popular Topics
- Developer Resources
- Social Media