HOUSTON, TX / ACCESSWIRE / February 27, 2020 / When it comes to weddings, unsurprisingly, one is instantly taken over by the ideas of grandeur and extravagance. Modern-day weddings have become an increasingly luxurious affair, especially over the last few years.
Across the United States, not only do weddings cost 35-40 thousand dollars upwards on average, but these figures are skyrocketing every few months. The increasing costs, however, bring tough competition in the market for the talent who work behind the scenes. This is the story of David Wilson, a renowned videographer turned entrepreneur, who built his million-dollar earning empire from the ground up as he worked inside the wedding industry.
"Most people don't really think much about the wedding industry. They typically envision businesses in this sector as individuals and with a side-gig. As true as that is in some cases, there are large, rapidly growing wedding companies that are taking the industry by storm."
Originally from Houston, Texas, David was able to get in early to the industry as a young videographer; he was only 14 years old at the time. He remembers working for free and building his portfolio in the initial years of his career. As he began taking on his first paid clients, David realized fairly early on that it was tough to compete against the bigger names in the industry and that his only real edge in the marketplace was to identify a problem in the industry worthy of innovation.
"There was a real problem in the industry, and I realized it pretty early in my career as a freelance wedding videographer. The entire wedding marketplace was filled with mostly part-time vendors like myself. Primarily photographers, videographers, makeup artists, and planners, a good majority of these companies were just one or two people who had weekday jobs, and they were pricing themselves out of business to make ends meet, while creating a rising average of industry pricing across the board."
After investigating his competition in the wedding marketplace, a rather large market in Houston and surrounding areas, David created a new strategy for generating high amounts of revenue, without charging higher rates.
"I love and respect my fellow wedding companies in the industry, however, what most wedding vendors who came into this marketplace early on did not understand, is that there is no room for setting prices based on arbitrary, personal criteria. Many wedding companies based their pricing on, essentially, what they felt their art or skill was worth, and working their way up from that mark. What's worse, is that these arbitrary figures bleed into other new wedding startups, who think that this is the industry standard pricing. This specific mindset of price creation might work if you're selling a painting, but a wedding business is still a business, and that's not what your clients want to see on the price tag, nor will it help you see the large volume. A couple getting married, in theory, wants to start at a simple price: $0. They want your services for free. So when I priced my services, I started at free. I calculated my actual costs per wedding, and then I worked my way up to a margin and a price that my clients could afford and stopped right there. I offered the best possible services the industry could offer, without nickel and diming couples for ‘an extra hour', or ‘a re-edited wedding video'. These things cost me nothing, and shouldn't cost my clients anything either. We do not charge hourly on any of our packages, and anything that does not cost our company extra, we do not charge the clients for. Many companies are continuing to upcharge couples on obscure costs that they cannot, or should not financially justify. This is no way to build a successful business with solid longevity"
David quickly began moving to adopt an empire-mindset as he settled into the ideology that, if he couldn't provide an industry-leading, high-quality product at a reasonable price for his services, then he was doing an injustice to the couples who were entrusting him and his company with their big day. He dropped out of college at the age of 21 and pursue his role as an innovator and entrepreneur.
To achieve aggressive expansion, David began hiring new, talented wedding professionals to work for him and stepped out of an on-site position to run his now booming wedding company, Cinematic Saviors, which now effectively provides fairly-priced services of all varieties (Videography, Photography, Planning, Coordinating, DJ, and Photobooth services) to couples across the country, as well as internationally.
"People still give us a hard time for not charging more, when we could. We get a lot of negativity for keeping our prices so low, but I know there is good business, and there is bad business. I am confident that, when I look back in 20 years, I will know that I was on the right side of capitalism. We will continue to expand, and to offer couples services they need, at prices that just make sense."
In 13 years, David was able to turn his freelance videography side-gig into a million-dollar earning, multi-service wedding company by assessing his competitors' greatest flaws and truly creating a business based on client trust, fair pricing, and unparalleled customer service. His hope is to continue to be an innovator and leader in the industry, and that the 300,000 wedding companies in the United States will follow suit, and begin offering brides an affordable wedding, so they no longer have to compromise on the biggest days of their life.
Contact information:
Company: Cinematic Saviors
Website: www.cinematicsaviors.com
Instagram @cinematic.saviors
SOURCE: Cinematic Saviors
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https://www.accesswire.com/578187/Entrepreneur-David-Wilson-On-Skyrocketing-His-Wedding-Company-Through-Innovation-And-Passion
