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Slow times for the wedding industry?

While the economy is sluggish in many areas, early indications show the wedding industry is not suffering an extensive slowdown. Couples are spending less, sticking closer to their budget, and scaling back where it makes sense; however, most vendors are reporting normal to better business sales.

Comments
We had a record number of bookings in Jan. 2008. However, we recorded our lowest number of bookings in 2 years for the month of March. Overall, our numbers have been less consistent. Yet, have remained positive over the long run. Bookings for 2009 are up compared to bookings at the same time last year. Not surprisingly, many customers are asking us to reduce our deposit amount or spread the amount over several payments. We expect modest growth in 2009 and are keeping a close eye on cash flows in the wake of a possible recession overseas. If Europe is hit hard, the US will go into serious economic recession and neither the Fed nor Bush will be able to bail us out of this one. The negative effects of Bush's economic stimulus package, and the "Bear Stearns bail-out" will not hit for some time. The free market is not meant to be tampered with (bailed out) and the huge budget deficit is going to haunt the new administration. As a small business, we are preparing for an economic disaster. Many local wedding vendors will not be able to weather the storm and we want to position our cash flow for difficult times.

Music By Design, Ltd. is a medium size Chicago are DJ company that specializes in weddings.
http://www.mymusicbydesign.com/
# Posted By David J. Savoia | 8/6/08 9:17 PM
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