Smart Money lists some of the various mark-ups associated with having a wedding. These include:
Flowers -- "When doing flowers for a wedding, florists always buy more than they use," says Tara Simone, owner of Barbara's Flowers in New York. The reason: The florist needs to hedge against smaller blooms or those that aren't quite perfect enough for a wedding. To help lower the bill, choose flowers that are hardy and also in-season.
Ceremony and Reception Sites -- The big reason brides and grooms pay more for a reception location has to do with the wedding packages that most venues require. One way to gain more negotiating leverage with a venue is to book the wedding during the off-season. To get the most bang for your buck any time of the year, arrange the reception at a hotel. Hotels tend to offer better rates for weddings than other events because they draw lots of out-of-town — and potentially hotel-bound — guests.
Bridal Gowns and Accessories -- Shops typically mark up gowns by at least 100% from the wholesale price, he says. A far sneakier move: Dresses without labels and designers' nonadvertised lines may be as much as 600% more, because the label-free dresses make it harder for brides to price-compare. One way to save on a dress is to do research online first.
Catering -- Whether it's a wedding or a business luncheon, restaurants and caterers typically mark up the cost of their food and services anywhere from 300% to 500% from wholesale prices to factor in preparation time and to hedge against rapidly rising food prices. To avoid paying extra, look for a caterer who's willing to offer a la carte pricing, he says.
Cakes -- Cakes are marked up as a result of construction and decoration, says Fields. While sheet cake might cost 75 cents a slice, a sliver of wedding cake with handcrafted sugar flowers and colorful icing can easily top $15. One way to save: Consider buying (or renting) a small decorated cake for the cutting ceremony, with a sheet cake to be cut up behind the scenes and served to guests.
The piece also includes a few suggestions for lowering the cost of a wedding including:
- Shop with a variety of vendors.
- Ask for hard evidence.
- Ask about every option available.
- Talk about your budget first.
I suggest you spend as little on a wedding as possible and pocket the difference between what you could have spent and what you actually did spend. Save that amount and you'll be well-rewarded financially for doing so.
For some of my tips on how to save on wedding costs, see these posts:
What a waste of funds. This is why I always advise people to elope.
Posted by: Bronco | July 15, 2008 at 06:41 PM
I think the civil magistrate charges $15 to perform a ceremony, and they'll even file it with the county clerk when it's done!
Posted by: Matt | July 16, 2008 at 07:32 AM
It's not that wedding markups are too high. It's just that if you want something to look 'perfect' you're going to have to pay for it, probably in cash.
If on the other hand you don't mind if all your flowers aren't exactly the same size or shade, or your cake isn't incredibly detailed, or whatever you can save money. You get what you pay for, but that's a good thing :) .
Posted by: plonkee | July 16, 2008 at 07:58 AM
This is a great post because I am looking at getting married in the next 12 months and I am starting to think about ways I can save money on what otherwise would be a very expensive wedding.
One of the best ways I have found is to get deals off friends. I have friends who work in photography, flowers, and wedding dresses. So hopefully I can find some great discounts
Posted by: Ryan McLean | July 16, 2008 at 08:00 AM
We just held my daughter's wedding, and the key to saving money would have been trimming the guest list. She invited around 400 people, 300 plus attended the wedding, and about 260 attended the reception. We had to rent a reception hall, as our own church's facility wasn't large enough, and the multiplier on reception food costs was, of course, higher than a small wedding would have been. The most ridiculous expense was, however, the wedding dress - and she bought a relatively inexpensive one, I understand. She did her own invitations and programs, friends performed the music, a relative did the flowers, and I catered the reception myself. We were way under the national average cost at the end, but it was still a large chunk of change. Keep it small, simple, and use your friends and family to help keep costs down.
Posted by: Jon | July 16, 2008 at 10:43 AM