The Expensive Knot
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| Pic Courtesy: www.profiletree.com |
Wedding is considered as the most auspicious ceremony for every Indians. In typical Indian weddings , the rituals may lead upto 2 days. Wedding is considered as the sacred one and it will be only did infornt of a priest with tying a holy knot to the bride. Marriages may be made in heaven, but they have to be paid for, right here, on earth :)
In India on an average around 1crore (10 million) weddings are happening /year. Marriage is considered as the occasion for showing there wealth, family status and pride for Indians. When calculating the annual wedding budget of Indians, you will be literally freezed. The Indian wedding market size worth Rs 19,0000 crore (1.9 Trillion) , Which will be higher than the annual budget of small African countries. The market is growing at a constant pace 0f 20-30% per year.The expansion of middle income class and the improved per capita income will increase the spending in the coming years. On an average an Indian family will spend around Rs 10 lakhs (1 million) to Rs 70 lakhs or more (7million or more ) per wedding.Currently Wedding loans and Wedding Insurance were available in market
I think there is a great potential for a start up in Indian wedding market. If we can closely analyse the cash flow in every segment of the marriage market, its pretty impressive and lucrative. I found the marriage market is mainly an unorganised business sector. Most of the players were local vendors and follows traditional methods. With the invent of new technology , we can capitalise the unorganised sector. The marriage market consist of mainly the following segments
1) Textile sector
2) Jewellers
3) Matrimonial websites / Wedding brokers
4) Hospitality sector
5) Printing and Stationary
6) Bridal make over
7) Photography/Video
8) Decorations
9) Catering
10) Transportation
11) Event management etc
In the listed sectors, there will be multiple sub sectors inside that and some of them were not accessible to start ups because of the brand image of competitors and high capital intensiveness.
For start ups you can focus on :
a) Floral Designs - With innovative theme based wedding and style you can be a good floral designer and can start a small business without much investment.
b) Decorations - You can start an organised decoration firm with perfect designs available online
c) Wedding cards - You can start a business as a wedding card developer. Collaborate with priniting industry and develop more design oriented cards with minimal cost
d) Catering - If you are interested in food industry you can go for a catering business..
e) Event management - If you have good connection with people, and a good organizer, then go for event management.
f) Honeymoon packages - You can start an enterprise with a theme wedding and a honeymoon package into it. Organiser wonderful tours and be an entreprenuer.
g) Bridal make over - If you are interested in beauty saloons, there will be a lot of opportunity for that. Gave free tips and offer good services, the business will be yours..
I think there is a great potential for a start up in Indian wedding market. If we can closely analyse the cash flow in every segment of the marriage market, its pretty impressive and lucrative. I found the marriage market is mainly an unorganised business sector. Most of the players were local vendors and follows traditional methods. With the invent of new technology , we can capitalise the unorganised sector. The marriage market consist of mainly the following segments
1) Textile sector
2) Jewellers
3) Matrimonial websites / Wedding brokers
4) Hospitality sector
5) Printing and Stationary
6) Bridal make over
7) Photography/Video
8) Decorations
9) Catering
10) Transportation
11) Event management etc
In the listed sectors, there will be multiple sub sectors inside that and some of them were not accessible to start ups because of the brand image of competitors and high capital intensiveness.
For start ups you can focus on :
a) Floral Designs - With innovative theme based wedding and style you can be a good floral designer and can start a small business without much investment.
b) Decorations - You can start an organised decoration firm with perfect designs available online
c) Wedding cards - You can start a business as a wedding card developer. Collaborate with priniting industry and develop more design oriented cards with minimal cost
d) Catering - If you are interested in food industry you can go for a catering business..
e) Event management - If you have good connection with people, and a good organizer, then go for event management.
f) Honeymoon packages - You can start an enterprise with a theme wedding and a honeymoon package into it. Organiser wonderful tours and be an entreprenuer.
g) Bridal make over - If you are interested in beauty saloons, there will be a lot of opportunity for that. Gave free tips and offer good services, the business will be yours..
"Lets make a blossom , make the world happier "
2 comments:
Excellent Post !!!! For Starting a small scale business enterprise , Entrepreneur India provides Small business Ideas, entrepreneurship ideas & best business opportunities with low investment .
Thankyou, I made a humble step to provide some limelight for the people who were confused on what to do next or were to start a business.
The words were really magical and truly inspirational.. Expect your suppory in future also..
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