Planning a party: Tips from the Experts: Christine Merser, Owner, Water Mill Party

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Christine Merser, Owner, Water Mill Party

Lower-cost beverages: Like many other experts, Merser has noticed a big change in event food and drink service. "There are rarely open-bars now," Merser says. "Signature drinks and wine are the way to go financially."

Small cake for show: Along the same lines, Merser suggests having a small cake to show guests, and larger, much less expensive sheet cakes in the back for actual dessert service.

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