5/1/2013
Families expect to spend an average $578 on graduation parties for their high school and college students, down from the $983 they spent on graduates in 2010, according to party planning website GraduationParty.com. The average party takes place on a Saturday afternoon and includes 67 guests, down from 90 invited guests in 2010. Also:
- 71% host parties in their own homes; 29% hold the event at a party room, park, or rental hall;
- 51% serve alcoholic beverages to their adult guests;
- 17% purchase food from a restaurant, down from 26% who did so in 2010, and 24% hire a caterer;
- 88% use some type of Internet-based media to invite guests, up from 47% in 2010; of those using social media, 58% were satisfied with the control over who was invited, but only 47% felt they had a good idea of how many people would attend;
- 30% rent party equipment, such as tables, chairs, and tents, down from 56% in 2010;
- 23% complete some type of home improvement project, such as painting or deck repair, to prepare for a graduation party, spending an average $1,420 per project;
- Only 2% of parties are held as brunch (10 a.m.-1 p.m.);
- 13% co-host parties with other graduates to save money, up from 10% who did so in 2010;
- 25% of these student parties have to address the challenges with divorced parents; and
- “Order less food” is the top change those who have hosted graduation parties in the past would make.
SOURCE: GraduationParty.com, Ginger Venable, 9172 Victoria Dr., Eden Prairie, MN 55347, 952-934-0932; ginger@graduationparty.com; www.graduationparty.com.
© 2013 Business Valuation Resources, LLC (BVR). May not be reproduced without written consent of publisher.