Love is an ecstatic journey, and for many, a wedding is the ultimate culmination of it. It isn’t as simple as the “happily ever after” shown in movies though. There are a lot of roles to fill when planning this grand day: a coordinator, photographer, designer, and caterer are just a few examples. For this reason, the US wedding industry has become an extremely lucrative one, with couples spending an average of $33,900 on the short occasion. If you’re an entrepreneur aspiring to be part of this profitable business, where you decide to offer your wedding services can play a big role in its success. Without further ado, let’s take a look at the best states to start your own wedding business in.
Nevada
The Silver State has the highest marriage rate in the US at 28.6 per 1,000 residents, due in part to the relative ease of getting a marriage license. Las Vegas, in particular, has primed itself as a top destination for weddings with its sheer number of churches for ceremonies and hotels for receptions. Not only does Nevada provide a large wedding market for entrepreneurs, it is also one of the best states to start a business in in general, according to US News. It has some of the lowest incorporation taxes and fees in the whole country, making it a very start-up friendly state. These together make Nevada a very ripe place to open your up-and-coming wedding venture.
Florida
Beach weddings have become increasingly popular, with more and more millennials in the US preferring destination weddings rather than traditional ceremonies at the altar. Florida, famous for its 1,200-mile coastline, has some of the best beaches in the country for the perfect destination wedding, including Clearwater Beach and Miramar Beach. This provides a unique opportunity for entrepreneurs in the state to cater to a more offbeat format. Beach weddings usually also span for more than one day, so Florida businesses can offer an elevated experience to couples and attendees including dining and touring activities, which definitely increases a wedding business’s profitability in the state.
Oregon
Known for its breathtaking forest trails and scenic farmlands, there is no shortage of beautiful places to get married at in The Beaver State. Many couples flock to Oregon for a fairy-tale like ceremony. Similarly, this has attracted new entrepreneurs who want to open a wedding business, such as a limited liability company (LLC), which is a business structure that legally separates an entrepreneur from the business entity. A vibrant market isn’t the only plus to having a wedding business in the state, though. One of the benefits of setting up an LLC in Oregon is that you can avoid double taxation. This is because LLCs have the privilege of being taxed only when filing for personal income taxes, bypassing the corporate taxes members of a corporation are subjected to. This lets you keep more of your income, which can be further invested to grow the business.
New York
Wedding gowns are such iconic pieces that American women are taught to preserve them—there are even experts in wedding gown preservation! When it comes to finding the perfect gown, the state of New York is second to none. After all the Big Apple is famous for its fashion scene, and New York is full of high-end bridal salons. It doesn’t come as a surprise that this is also the top state when it comes to household spending on weddings, with couples spending around 52.9% of their income on the festivities. Wedding entrepreneurs can definitely take advantage of this to make a profit in the state.
Weddings are timeless—nothing’s going to stop people from officially professing their love and tying the knot. If you push through with opening a wedding-related venture, then you can be assured that you’ll be in a secure playing field. But just like any other business, where you establish it plays a role in your profitability. After carefully considering location-related factors such as costs, taxes, and culture, you’ll be able to confidently put up your wedding venture and say “I do” to your own happily ever after in business. To stand out in this lucrative industry, investing time and effort into branding your wedding planning business is essential. A strong brand not only helps you connect with your target audience but also builds trust and credibility in a competitive market. With a clear vision and strategic marketing, your wedding venture can flourish and create memorable experiences for couples embarking on their lifelong journey together.