In the last blog, I promised to discuss some interesting statistics on wedding costs. So, here goes –
First, let me explain the numbers: the first number is the cost in the year noted. The second number is the cost in today’s (2009) dollars accounting for inflation.
Total Costs –
Beginning at the end of WWII, in 1945, the average wedding cost around $2500/$29,500. This average rose steadily until 1990 to $15,200/$24,600, although when factored for inflation, it actually dropped. Then the rate of rise decreased, eventually peaking in 2007 at $28,700/$29,700. With the downturn in the economy, 2008 and 2009 both delivered a decrease in the average cost of a wedding to just under $20,000. So, in today’s dollars, the average wedding costs 30% LESS today than in 1945! It is expected to continue to decline, albeit at a slower pace over 2010 – 2012.
Now let’s look at some of the specifics –
The US peaked at over 2.44M weddings in 1990 and has been on a steady decline ever since. Not surprising when you look at data on the average age people are getting married (rising), the divorce rate (rising), and more people living together (also rising).
According to the Bureau of Labor Statistics, the market will add nearly 12% more photographers over the next 8 years. With less weddings and more photographers, it’s not surprising that the forecast for the average wedding cost is in a downward trend. It’s simple supply and demand.
So let’s say you are an aspiring photographer. You crave working for yourself. You want to spend more time with your family. You want to express your artistry and at the same time put some money in your pocket. These are all admirable desires. However, it’s not as easy as it seems. Over the next 8 years, nearly 18,000 people are thinking the same thing! And there are less and less weddings available for everyone to photograph. So, what do you do?
First, if you are serious about making a career out of photography, get some formal training. You need training on the technical side of the business as well as the business side of the business. Just because you have a nice camera, doesn’t make you a photographer. Most wedding and event photographers carry with them over $20,000 in equipment. The equipment doesn’t make you a great photographer who can command thousands of $’s for his/her photos. It’s your ability to understand lighting and how the camera sees that light. It’s your ability to adapt to ever changing moods (people AND lighting). It’s your ability to deliver a professional looking product(s) in a timely manner. It’s your ability to relate to people to make them feel comfortable. It’s your ability to build rapport and sell your photographic services.
Capturing beautiful photos alone, won’t put $ in your pocket. You have to market, market, market and build rapport with the prospects you meet. You can’t make a living photographing weddings for $500. Someone will always do it for less. You have to compete on building rapport, trust and expertise in your client relationships.
And THAT is why Aunt Sue can’t be a professional photographer. She is a hobbyist, not a professional. Most hobbyist who turn their photography hobby into a business, go out of business within 2 years. They can’t break out of the hobbyist mode and into the business mode.
I know we’re talking about weddings, but let me demonstrate TRUST. Take a look at these photos. This young man is 13 years old. We wanted to do these photos in an urban environment. So, I suggested an ally – complete with pallets, cables, electrical panels, etc. Mom was willing to let me try (trust and rapport) and we went for it. She LOVED them. They spent nearly 3 hours culling the images down to these select few. Her exact words were “You took so many great photos, it’s hard to edit them down.” It came down to her trusting me. Not my camera, not my lights, not my gear. TRUST. I built rapport with her to the point that when I suggested something a little out of the ordinary, she trusted me.



More about this topic in the next blog. Leave me a comment below. I LOVE to hear what you’ve got to say. Until next time – Leon
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