The pie just got a little sweeter as a Seattle based start-up offers couples to pay for their dream wedding. But wait there is a catch, if you are divorced you will have to pay them back in full with interest.
We all have dreamt of that perfect wedding with the special person in that wonderful place and all our friends and family cheering us as we leave for the honeymoon. The pie just got a little sweeter as a Seattle based start-up offers couples to pay for their dream wedding. But wait there is a catch, if you are divorced you will have to pay them back in full with interest.
The main business model of this start-up, SwanLuv is simple. Their model is based on their research where they have found out that nearly 40 to 50 per cent marriages ends in divorce. The company offers to pay couple for their wedding as long they are married but in the event of a divorce money needs to be returned to them with full interest.
When a couple applies to SwanLuv, they will study their relationship and will run through an algorithm and will select the couple if they matches their criteria and will offer a loan of up to $40,000.
The CEO and co-founder Scott Avy says their business is like a casino for marriages where sometimes there is failure and sometimes there is success. He really does want all the marriages to work but the statistics shows otherwise and the company depends heavily on that. “It comes back to statistics. We’ll have the right odds so we’ll be OK. But they won’t be so crazy that no one wants to do it” Avy said.
There will be clauses to protect the interests of both the partners however. So if a marriage ends in a divorce, only one person will be responsible to pay for the debt and to help the cause further the company will even offer free marriage counselling when things get out of hands.