4 Tips When Buying a Wedding Business For Sale

by Vanessa Lovie 25th of February, 2024

Retail Wedding Boutique Business

Weddings are on the rise! It seems that Australians love of marriages continues with a sharp rise in weddings in recent years. It is estimated that the Australian wedding industry generates over $2 billion dollars a year, with 127,000 weddings occuring in 2022

With many weddings costing an excess of $20,000 there is a lot of money invested into these occassions!

What types of businesses are offering wedding services?

Unlike most industries when we look at wedding service business for sale we include any service that can be involved in the big day - and there are alot!

From wedding planners who coordinate all aspects of the event to catering companies offering diverse menu options to venues and function centres. Often businesses that are advertised for sale under wedding services have been specifically involved in the wedding industry. Though you might find them servicing other clients, for instance a florist for sale could be solely making bridal bouquets or they could offer a retail service to the public.

Here are some common businesses involved in the wedding industry:

Wedding planners
Catering services
Photographers
Videographers
Florists
Bakers (wedding cakes)
DJ services
Live bands
Venues (ceremony and reception)
Rental companies (tents, tables, chairs, etc.)
Bridal boutiques
Formalwear shops (suits and tuxedos)
Hair stylists
Makeup artists
Transportation services (limousines, vintage cars, etc.)
Invitation and stationery designers
Wedding officiants
Decor and lighting specialists
Honeymoon travel agents
Event security services

During covid the wedding industry took a big hit but businesses were still selling as the idea of weddings would return after the lockdowns.

What to consider when buying a wedding business

Reputation - Does the Wedding Business have a good reputation? Brides talk. If the business has managed a terrible wedding, forgot important details, failed to organise something, then the bride and groom will remember (not to mention the rest of the wedding party) and it will spread by word of mouth. Especially if you are buying a wedding business in a small town, it can be hard to change that reputation. Ask to speak with a previous bridal party that the business has dealt with, just to see how they viewed the business. You can also try doing review searches online.
Relationships - A wedding can be a big operation that involves a number of teams working together. Does the Wedding Business have good relationships with other businesses that may need to be involved, such as photographers, florists, decorators, celebrants, musicians.
Established - How long has the wedding business been established for? Can you view photos from previous weddings to see the style of wedding they put together.

consider if wedding are booked in advance

The biggest tip to buying a wedding business?

Forward bookings! You want to know what is on the books!

Weddings are typically organised years in advance. If you are buying a business that is heavily reliant upon weddings, then it should have forward bookings. So take a look at the contracts and deposits. How is the calendar looking for the year ahead?

When you buy a business, genrrally the price you pay is based on what money the business will earn in the future (yes we look at past financials - but the money is in the future). If a wedding business, like a photographer is based on that particular photographers skills, like Bens Photography - needs Ben - what are you actually buying? You need to understand what you are paying for and be confident the business will line up with sales in the future.

The wedding business needs to be seperate to the operator and it needs to have bookings and deposits!

Always make sure you get professional advice so that you know how to buy a business.

Tags: wedding buying a business florists