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Babson Business: Wedding Payment Plan, LLC


  • Name of business: Wedding Payment Plan, LLC; 
  • Mission: To be the leading consumer finance company specializing in special events.
  • Began in: 2006
  • Where: 320 Washington Street, Norwell, MA 01923
  • Founder: Scott Almeida;; 617.828.8532; Babson Undergrad '95, Evening Grad Student (currently on leave of absence)
  • Employees: 3 (including Jeannie (Kelly) Burtch U91)
  • Founder's Past Life/Business: CPA, prior six years as CFO in venture capital
  • How The Idea Began: After my wife Michele (Goulet) (U 95) had our second daughter friends joked with me that I better start saving now for their weddings and school. I knew 529 Plans existed for college, as well as student loans but I began thinking about how people pay for weddings and that is how Wedding Payment Plan started.
  • Initial Preparation to Germinate Idea: The first step was contacting businesses that offer special events, and gauging if this would be a viable product they would consider offering to their clients. After receiving a positive response from these locations, I enlisted the help of Joey Curtis (U 92), of Cercone, Brown & Curtis.  Together we developed a consumer survey to measure the public's appetite for a product like this. After determining that consumers were interested, I began the financial modeling process, along with searching for a bank to partner with.  All this took place while I was enrolled in the Evening MBA program at Babson, working on an independent study with Prof. H. David Hennessey to develop the business plan.
  • Favorite Thing about the Business: My favorite thing about Wedding Payment Plan is helping people host a very special event by providing a stress free payment option.  By allowing them to find a monthly payment that fits easily into their budget, I remove stress for clients – and that is a great feeling!
  • Worst Thing about the Business: I was a CPA and now I am a salesperson, it forces me to have a personality!
  • Biggest Challenge: My biggest challenge is juggling all of the hats I need to wear as a small business owner positioned in a heavily regulated industry (banking)… while not getting bogged down and losing focus on the most important thing, THE CUSTOMER!!!
  • Lesson Learned: The biggest lesson learned is that Babson is a GREAT resource. The professors and the courses definitely helped prepare me for this endeavor (most importantly the independent study and sales classes!)  Also, Babson alumni have been a tremendous help; alumni form my largest investor group; one of my employees is an alumni, and two of my three outside board members are alumni.   Babson is an excellent resource!