Are You Intimately Aware Of The Code Regulations And Permits That Will Be Required
Heres a question that you need to consider early on.
Just like you need to be intimately knowledgeable about the market demand and local climate of your area, you must know everything possible about codes, regulations, requirements, and permits in your county.
The frustrating point here is that regulations can vary drastically from area to area and district to district. For example, what the fire district may say is okay in one area can be totally different from what is acceptable in the district right next door. And this difference is going to have a big effect on your wallet.
Before you make any concrete plans, do yourself a favor and take some time to learn everything you can about your city or countys requirements when it comes to owning and operating a venue. Not only will this help you avoid unpleasant surprises down the road, but it will help you advocate for yourself if something goes wrong.
And thats important: you HAVE TO be your own best advocate, because no one else is going to do it for you.
The venue industry is booming, and as a result most counties are still playing catch-up. Learn as much as you can because this is your business and your money on the line. And more importantly, its a brides wedding day on the line.
Being aware of the codes, regs, and permits will save you a huge headache down the road, so take the time to dive deep. And whatever you do, DO NOTstart booking weddings until you have everything in order.
Create A Brand For Your Business
Do not underestimate the importance of branding your business. A brand name will give your venue a more complete and professional look. It also creates a good impression on potential customers, encouraging them to use your venue.
If you are not good at designing websites, hire the services of a professional graphic designer. A few examples of sites where you can find designer services include Upwork, Fiverr, etc.
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Open Your Wedding Venue For Business
So, youre ready to start booking? Hosting an open house will help you meet new professionals in your industry and get the word out about your venue. You can also offer discounts to the first few couples who book weddings with you. I kept my prices low in the beginning to get more bookings, said Hansen. I also booked some weddings while we were still under construction, so I had to be ready to open by the first wedding date. Those last few weeks I felt like I was on one of those high-stress home renovation shows. Our stove got delivered three days before the first wedding!
Owning A Wedding Venue Is A Business
As weve said before, if you decide to open a wedding venue on your property, you are running a business. Sure, you can hire out managers and staff to handle the day-to-day operations. But at the end of the day, you still have the responsibilities that being a business owner comes with.
If you own a venue, you have to do marketing, hire appropriate people, and do upkeep on the property. Simply opening up your doors to couples seeking a wedding space wont cut it.
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How Much Does A Wedding Reception Venue Cost
One of the first decisions youll make when planning your wedding is choosing your wedding venueand there are lots of types of wedding venues to choose from, from barns to ballrooms! Youll likely spend a large portion of your budget on your wedding venue cost , so its important to do your research before selecting your wedding site. The average wedding venue cost in the U.S. is $6,000, with most couples spending between $3,000 to $11,000. Note that these are only averages and pricing varies widely depending on a variety of factors, like whether in-house catering is included.
What Else Should You Expect
Seasonal shifts are fairly universal when it comes to weddings. Most venues host the biggest amount of weddings during the summer and fall, while numbers drop off significantly during the holidays and colder months.
Making sure you have a yearly budget that can handle these peaks and valleys of business will help you survive as a venue.
Another thing to keep in mind if that while people will always want custom options for their special day, youll be viewed as a wedding expert.
Your guidance will help guests and families make big decisions about these once-in-a-lifetime occasions, so be prepared to really sell your services and venue as something catered just for them.
It doesnt matter if you open your family barn property as a venue or you invest in waterfront property. If you have good service, good prices, and a good selection of inventory, youll be set for success.
Call the wedding furniture rental experts at Event Stable at 866-360-4642. We can help get your started with a venue package that’s right for your needs!
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Vines Of The Yarra Valley
Vines of the Yarra Valley is a stunning property located at the gateway of the Yarra Ranges just 45 minutes from the Melbourne CBD.www.vinesoftheyarravalley.com.auPhone: 9739 0222
Surrounded by acres of vineyard in every direction, lush lawns and magnificent rose gardens we provide everything you need in one location including free ceremony time. We offer a ceremony location on-site with 360 panoramic views of the valley and mountain ranges.
Vines floats above vineyards on Helens Hill and offers the best views of the Yarra Ranges making it a perfect location for your Yarra Valley wedding reception.
We host stunning Yarra Valley weddings year-round at Vines, taking advantage of our various indoor/outdoor facilities, depending on the weather. Our facilities are versatile and accommodating, designed to maximize spring and summers open-air freshness and fall and winters crisp light and cozy warmth.
Operate Your Barn Wedding Venue Business
Its important to note you will be getting potential clients at any time of the day. It is essential to keep the business tidy and well maintained to create a good first impression and increase the chances of customers choosing your venue. If you cant operate the business on your own, hire one or several assistants to help you manage the company.
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The Secret To Profitable Wedding Venues
Like other wedding businesses, venue owners need to know their numbers to find success.
How much income do you need to draw from the business?
How much are your expenses?
How many weddings do you need to book at what price to make your target sales revenue?
How many leads and website visitors will you need to hit those booking numbers?
Its not rocket science, but it sure isnt easy, either. It takes guts, hard work, and determination.
Do your research, know your numbers and search your heart. Youll know whether this is the adventure for you.
If you have a venue and you are ready to book your wedding venue up but want some help getting it done quickly, connect with us here:
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Here Are Some Questions To Consider:
What are the state or city laws governing venue spaces?
Will you need a liquor license?
Will you be selling food?
Are there any licenses you need as the venue owner?
What are your responsibilities legally if someone if injured at your venue?
These questions will help you to make the best decision and be prepared for the unexpected when you start an event venue.
How Much Does A Wedding Ceremony Venue Cost
Some couples choose to have their wedding ceremony and reception in separate locations. A wedding ceremony is shorter than a reception and doesnt include catering, so the cost of a ceremony venue is typically cheaper than wedding reception prices. In the U.S., the average starting site fee for wedding ceremonies is $600.
Know Your Startup Costs
Before you start shopping for venues or even looking for financing, know your startup costs. Take stock of your current financial situation. Do you want to buy or lease the location for your venue? Do you have enough money for your down payment? What improvements will you need to make to the property to get it ready for events? How much will you need to borrow, and how will you borrow it? Will you be able to qualify for a small business loan, or will you need to take out a personal loan, open a business line of credit, or get a small business credit card?
You can begin to assess your finances by making connections with wedding vendors in your area and asking them questions about startup costs for a new venue. They can also help answer other questions you might have, such as where the best location for a new wedding venue might be. Find out what your venue will need in terms of facilities and amenities, not just to comply with local laws, but also to make your guests happy. For example, an outdoor venue needs some kind of shelter for a foul weather plan. While you might start out with a large event tent, a more permanent structure should be in the works.
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Prepare To Eat The Cost Of Promotion
Other costs to factor in when trying to figure out how to start an event venue pertain less to purchasing certain items or hiring a certain number of people and more to promotion.
The best way to promote your business is networking and getting involved with other people in the industry, says OReilly. You have to keep building on yourself and showing people who you are and what your skills are you cant sit in a dark space and expect people to show up.
For us, the next step is letting people know about my culinary talent, she says. Im starting a web-based identity for myself Katie Os Food Carnival because my clients have been asking for it and you have to listen to that.
Beyond networking in-person and demonstrating your prowess online, there should also be some money put into the actual exposure of your place throwing parties and events that showcase your capabilities, and why the next big wedding or corporate event should be at your venue.You have to get people to eat your product before they agree to pay for it, OReilly explains.
Most Wedding Venue Owners Start Out Working For Free
What’s unfortunate that so many don’t understand is that many new wedding venue owners are working for free. Even if the business is breaking even or making some profit, the venue owner is often not taking a salary.
Often it’s thought, “Well, next year will be better or Next year will be the year without big projects.” But that happens year after year, and then more and more venues open and the market becomes more saturated.
Even though from the outside it looks like an easy, fun, profitable business in many cases, that’s just not true.
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Make The Place More Acoustic
Music is a huge part of the event, so if thereâs any remodeling to be done, you need to invest in making the place more acoustic. Look at it like this, music will determine the way in which the guests will remember this night. In other words, it also affects the impression that they form about your venue. This may determine whether they recommend you to their friends and family members who are currently looking for a wedding venue.
Build A Wedding Venue Business Plan
Even if you think the job is a simple one, you have to flesh out a detailed business plan.
This is an important step to take not only for your own benefit but especially for outside investors or banks from whom you will seek initial funding. Investors will want assurance that theyll be seeing returns on their investment.
What needs to be included in the plan?
- Your type of business organization
- Summary of your operations
- Expected costs and revenue projections
- Business goals
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Location Location Which Location
With your finances in order, you can look for a property to convert into the perfect wedding venue.
If youre interested in rural properties, keep in mind that a barn could require $250,000 in renovations just to be brought up to code. On the other hand, with an outdoor property, you can start by hosting events under a tenta quality 100-person tent with a liner should cost less than $5,000, for instancewhile you complete work on pre-built structures.
For leasing or purchasing in urban areas, your property costs will largely depend on the location and the state of the building you rent. You’ll also want to look into the size of the wedding market in your area to gauge local demand.
Look for inspiration, too
Are you looking for a rural or urban location?
An indoor or outdoor structure?
A multi-use space or a dedicated wedding venue?
Research local laws
In a location-driven business like a wedding venue, local zoning laws and building regulations determine much of what youre able to doand how quickly. If youre not a property owner, or plan to open your wedding venue in a different county than where you live, start your search with a specific place in mind. Then, call the county where your prospective property is located, and ask for zoning information and code requirements for event spaces before making a down payment.
How To Start An Event Venue: The 6
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If youre a people person eager to please, meet new people and help create the bonds that often arise from sharing good food, drinks and ambiance and youre interested in using that passion to start a business, you may be ready to start an event venue.
Katie OReilly is the senior partner of business development at Kenmare Catering and Events, which operates the Germania Place location in the heart of Chicagos Gold Coast. She says that her business was born out of her love for people.
I came from a family of attorneys and I just didnt want to do that, OReilly says. I have a passion for food and people that started early on that was my core. So my perspective when I got out of college was that I wanted to throw parties and hold events and meet people.
With O’Reilly’s help, we’re going to take you step by step through how to start an event venue.
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