Typically, the father of the bride speech comes first. Therefore, it is your job to set the tone and keep the mood lighthearted and happy. It is your time to talk about your daughter and welcome your son in law into the family.
To start, you want to acknowledge your daughter and tell a story or two from when she was little. You can tell an embarrassing story if you like, but be careful about making it too embarrassing. It is generally safer to tell a story that shows how she got where she is today.
Next, say a few things about the groom. Say things like he is a fine man or you are happy your daughter found someone like him. You want to make it known you are excited to have him in the family and be able to consider him as a son.
Lastly, give a toast and wish the couple a life full of love and happiness. A wedding is a time to celebrate, so you will be happy to know as the dad that you do not have to give a long speech. Keep it short, sweet and personal. It is your job to open up the speeches on the right foot and keep the wedding moving along.