Wedding Planning Costs - Explained

 
 

How much does a wedding actually cost?

We get asked all the time, “how much does a wedding actually cost?”, and the answer can be surprisingly complex. While relying on sites like the Knot, WeddingWire and others may be good for gaining inspiration and even possibly finding vendors, they are not the best gauge for what a wedding actually costs. They poll couples who have a huge variety of budgets, guest count sizes, expectations and styles to get their “average cost”, but what is missing from those numbers is not only the actual breakdown of those costs, but the couples own priorities and the aforementioned variables.

To set an accurate budget, you need to understand the different types of costs and services associated with your event. Fixed costs and price-per-person costs are key components. Fixed costs are flat rates, such as a band charging a set fee for a three-hour performance, regardless of guest count. Price-per-person costs vary based on the number of guests. Additionally, vendor pricing can fluctuate based on the vendor's service level, expertise, and talent, among other factors.

The easiest way to understand budget is to know that the more guests you invite, the more you will spend. Your guest count is the single biggest determining factor for your budget.

Below, we will go more in depth around the costs associated with events and what factors into the total.

What Determines a Vendor’s Pricing

Multiple factors go into how a vendor prices themselves and their services. Generally, the more experienced someone is, the better their creativity and talent and the

  • Experience

    • This might seem obvious, but a beginner photographer can cost up to ten times less than an experienced one. Many expert photographers employ less experienced photographers under their brand, giving clients the option to benefit from the expertise of a renowned photographer for a smaller investment than hiring the primary photographer directly.

  • Number of years in business for themselves.

    • The number of years a vendor has been in business can affect their pricing. Established vendors often charge more due to their reputation and reliability.

  • Costs of Goods Sold and Business Overhead

    • This includes such as wholesale costs from a florist or film costs for a photographer, office space rental, business insurance and in many cases staffing costs

  • Quality of Customer Service and Time Dedicated to Each Event

    • Vendors who provide high-quality customer service and dedicate substantial time to each event may charge more.

  • Capacity, or how many events does the vendor take on each year?

    • The number of events a vendor takes on each year can influence their pricing. Vendors who limit their bookings to provide more personalized service might charge higher rates. For instance, we only plans ten events at a time to ensure we are as dedicated as possible to each of our events.

  • Their Skill and Creativity in Their Respective Field

Fixed Costs of an Event

These are costs that remain the same regardless of guest count. For instance, a 10-piece-band performing for three hours will cost the same whether you have 30 guests or 300 guests. Similarly, a two person photography team for ten hours won’t change in pricing based on your guest count. Examples of fixed costs include:

  • Photography

  • Videography

  • Band or DJ

  • Gown, Suit or Tux Costs, additional fashion items

  • Reception Venue Rental or Tenting Costs

  • Church or Ceremony Venue Rental

Price per Person

These are the cost that vary with guest count or are billed at “cost per person”. For each guest you invite, you must pay for food, drinks, staff as well as each additional menu, escort card and potentially place setting. Each additional eight to ten guests is an additional centerpiece, table and linen rental.

  • Catering Costs (Food and Beverage)

  • Cake and Desert Costs

  • Staffing and Service Charges, Gratuities

  • Rentals: tables, chairs, flatware, serviceware, linens, glassware for instance

  • Paper Products: items such as invitations, menus, escort cards, and programs

  • Floral and Decor

  • Wedding Planner Cost

Budgeting Tips for Couples and Families

The best thing you can do when setting your budget is determining your priorities. I ask every client who comes to me to plan their event - “what are your top three priorities when it comes to your event?” Some want an awesome live band rocking the dance floor all night long, others dream of over-the-top, artistic florals and other want a chef-driven menu or entertainment. By sitting down as a united front and deciding what is most important to you, that helps determine the best way for you to prioritize spending.

Like in life, unexpected expenses come up when planning events so it is very important for have flexibility in your budget. Set aside a contingency fund for unexpected expenses - a good rule of thumb is to set aside 10-15% of your budget for las minute costs.

Ready to plan your dream wedding? Contact us today for a personalized consultation and let us help you create an unforgettable experience. Follow us on Instagram for more tips and inspiration!

KC Cloud