So, that’s it. You’ve poured your heart and dreams into planning your 2020 wedding… you’ve made sizable deposits and payments… you’ve spent months worrying about your loved ones and how you might put them in danger… you moved your date to 2021 or 2022…
And then you faced the heart-breaking reality. Maybe you’re exhausted from the past few months, maybe you’re starting a family, maybe you just want to wake up from this nightmare and move on with your life.
So, you pick up the emotional pieces (I bet it took the strength you didn’t know you had). But there’s still a nagging sore. Your vendors are not returning your deposits.
Is there anything you can do to salvage at least some of your money?
Well, the world is a marketplace, right? Maybe someone out there is hoping to get married in 2021, and could pay you something to take over your contract. At a discount, obviously. Let’s try to think of this as a market transaction.
What value you are selling?
- a slot in 2021 (or 2022), which are becoming a little harder to get
- the convenience of having your perfect vendors all aligned to be available on the your date – say, in 2021;
- the loss you are prepared to take. In other words, the potential buyer could get much more value from the vendors than they actually pay you for.
Why do you have to accept a loss?
In a word, uncertainty.
- the pandemic may not be over by the time your new date rolls around;
- the vendors may go out of business and become unable to provide the service paid for.
In theory, there is a buyer, and a price, for everything out there. As long as you’re realistic about the price, you just need some luck to find the right buyer, and voila – you could feel a little better about your financial situation. It could be a win-win.
So, how do you find the right buyer?
- Through your venue (or the vendor, if you’re selling a contract with your photographer or another vendor).
If the stars align, your venue could be your best advertiser. The venue, through its own marketing, attracts interested couples, – and of course it would hate to turn anyone away just because it is not available on a particular date. But as long as the venue has a deposit from you, odds are, they cannot offer your slot to anyone else (mind you, this is not legal advice). If the venue can expect more revenue from the new couple than from you, they may want to contact you and arrange a sale of your contract to the new couple. Win-win. So, staying on good terms with your venue might be a smart move for you.
2. Cancelled wedding brokerages.
Believe it or not, there are businesses out there looking to match you with potential buyers. Of course, they do that for a fee.
3. Advertising your contract the smart way.
You would want to reach as many couples as you can – specifically, couples who are looking for wedding resources around Toronto and GTA. You would want your advertising to remain online and accessible, and you would want it to be keyword-searchable. Ideally, you would want your advertising to appear under some kind of a review for your venue.
Guys, here’s an idea – advertise with us!
– We’re the right platform! Couples like you come here to research wedding options in the GTA, and the information stays posted.
– There are no guarantees, of course. But what do you have to lose? We won’t charge you (or the buyer) any fees – we just want to be helpful in this tough time.
In order to advertise with us, just email us at TorontoWeddingResources@gmail.com. Mention your venue / vendor, your date, the deposit amount, and any other relevant details of your contract. Feel free to mention the reason why you’re selling, but please refrain from negative comments about the vendor. Covid caused heartbreak all around – including the wedding industry. All the wonderful people who dedicated their careers and their livelihoods to help couples like you plan their dream weddings, may suddenly be left without a way to feed their families. In this extremely difficult time, we’d like to give the wedding professional the benefit of the doubt. So, negative comments will not be approved for publication.