Notes From The Bridal Roundtable November 9th 2006

The average cost of a wedding here in New York is over $30,000 (according to the website Cost Of Wedding.com). This website has a breakdown of average costs for various items like flowers, wedding attire, and more. The question is are you in touch with your customer base and are you charging fair market rate or well below the industries numbers?


On Nov. 9, 2006, The Local Development Corporation of East New York held it's first Bridal Roundtable, below are notes from that event:

Greetings to all our colleagues and friends in the bridal industry!

The LDC of East New York held our first bridal industry roundtable on Thurs., Nov. 9, from 6–8PM. A very dynamic group got this networking group off to an exciting beginning.

Seven bridal vendors took part, representing a rich spectrum of knowledge, skills, and experience:

• two event planners
• a cake maker
• a photographer
• a maker of handmade soaps that are sold as favors
• a stationery designer
• a headpiece designer.
  
  We kicked off with introductions and brief descriptions of each business. We then had each entrepreneur state her immediate business goals and what actions she is taking to achieve them. We heard a number of common goals:

1. build website presence and internet commerce
2. increase overall sales volume
3. attend/take a booth at a bridal show
4. cross-promote with other vendors
5. generate press coverage

We followed goals with needs: what needs do you have that the bridal networking group could help with, or that the LDC could help with? Responses included:

1. develop a team
2. do joint advertising and email blasts, sharing costs and labor (and possibly lists)
3. share supplier resources
4. get some help with pricing and marketing
5. organize a small, targeted bridal expo

After a lively conversation, the group decided to meet again on Thursday, January 18 at the LDC. That meeting will start with a show-and-tell, in which everyone shares their product or service (samples, portfolios, photos, etc.). Following the show-and-tell, we will discuss initial plans for an expo/event in Fall 2007. Several participants expressed an interest in creating a “one-stop-shop” bridal network, where a bride can get custom help on every aspect of her wedding, and we may pursue joint direct mail or press efforts.

If you are a New York City entrepreneur in the bridal industry, please join us at our next Bridal Roundtable—and bring samples for show-and-tell!

Thursday, January 18th 2007

6-8PM

Local Development Corporation of East New York

80 Jamaica Ave., (at Pennsylvania Ave,), 3rd Floor

Brooklyn, NY 11207
Please RSVP to Teresa Stern, Marketing Coach at the LDC:

(718) 385-6700, ext. 17 or teresas@ldceny.org.