How To Start A Wedding Venue Business – Here’s What You Need To Know

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A Collection of Resources Related To Starting  A Wedding Venue Business

In this post, you will find an abundance of resources that will give you a complete overview of what it takes to start a wedding reception business and will provide insights about what you can expect from getting into this type of business. Before you get to the resources, here are a few brief points to consider.

If you’re interested in being a part of a couple’s special day and help to make this event a memorable one and a great start to their new life as a married couple, then you can contribute to that experience by providing a great place for celebrating their special day.

With many weddings comes stress because of all the details involved. Especially for large weddings. You can provide a great place to celebrate and ensure every little detail that is under your control and will be taking care of.

When you think of it this is the one day this couple has and if anything goes wrong it can’t be repeated. Once you think of it from that point of view you will make every effort to make sure things go perfectly on your end.

To make your business stand out you can offer a variety of products and services. Keep in mind you don’t have to specialize in every one of the products and services. You can set up joint ventures with people and companies.

For example, you can offer:

    • Video and photo’s
    • Limousine services
    • Decorations
    • Band
    • DJ
    • Full course meals
    • Bartenders
    • Servers
    • Cake
    • Airport pickup services for guest flying in
    • Accommodations for guest
    • Etc.

What you will want to make sure of is that you have the proper permits, especially if there will be liquor served.

You also want to make sure you have the right liability insurance to make sure all your guests are coved in case of any indecent.

This business model is tricky when it comes to scheduling. If you overbook you’ll be in a lot of trouble. If you underbook you’ll hurt you’re cash flow and may have staff on your payroll with nothing to do. What you want is bookings many months in advance. You’ll also want to have different room sizes so that not everything has to take place in your largest area.

You may also want to have an area for outdoor weddings.

A Few Areas You Need To Consider About This Business:

How Will You Run Your business?

Options Include:

1. You manage and run the business all on your own or hire employees for the jobs needed.

2. You hire a business manager and you deal with the products and services.

3. You hire a manager and employees to completely run the business while you overlook operations.

What options are you considering for this business?

Demand:

With any business, you’re considering you need to find out what the market is like in the area. If there is no demand for wedding receptions, then there is no use opening your business in the area.

Competition:

If the market is saturated, with other reception halls you’ll need to bring something to the market that will help you compete. Another point about market saturation is everyone will probably compete on price. If the price becomes too low, there won’t be any profit left to run a successful business.

Make Your Business Stand Out:

What can you do to make your business special? If you’re going to open a business that is just like any other, then why should people do business with you? Consider this and maybe you can come up with an idea that offers value to your potential customers.

Is This What You Really Want

It’s important that you get into a business you have an interest in. If you have no interest in weddings then you won’t give it your best effort and when a problem shows up, you’ll end up looking for ways to get out of the business instead of finding solutions.

The above considerations are important and part of deciding if you want to pursue starting your own wedding venue business. In the resources to follow you’ll find more resources to consider such as how to finance your business, getting registered, getting the proper insurance, startup checklist and more.

For a complete overview of a starting a wedding venue business, see the unique collection of resources below organized in sections for your convince.

Sections Included In This Post:

      • How To Start A Wedding Venue Business
      • Wedding Venue Business Trends and Statistics
      • Profitability and Revenue of A Wedding Venue Business
      • Licenses Needed To Start A Business
      • Business Insurance
      • Reception Halls Business Insurance
      • Employee Considerations
      • How To Finance Your Business
      • Business Plan
      • Marketing Plan
      • Business Cards
      • Wedding Venue Business Logo
      • Wedding Venue Software
      • Office Equipment Considerations
      • Wedding Venue Businesses For Sale
      • Franchisees Related To Weddings
      • Is Running A Business The Right Move For You?
      • Business Startup Checklist
      • Skill Set Needed To Run A Business
      • Top Wedding Venue Businesses
      • Tips For Marketing A Wedding Venue Business
      • Wedding Venue – Article Mix
      • Courses Related To Wedding Planning
      • Wedding Blogs To Follow
      • Industry Related Trade Publications
      • Wedding Glossaries
      • Wedding Venues Books
      • Tweets Related To Wedding Venues
      • Videos Related To Wedding Venues

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How To Start A Wedding Venue Business

Opening a Wedding Venue 101 | Gather

How to Start a Wedding Venue in 6 Easy Steps

So, You Want to Open a Wedding Venue? Here’s What You Need to Know – Modern Weddings

The Dark Side Of Owning A Wedding Venue – Wedding MBA

How to Start a Wedding Venue: Everything You Need to Know

5 Important Questions: Is owning an event venue right for you?

5 Things You Must Do Before Opening a Wedding Venue

Wedding Venue Business Trends and Statistics

Trends and statistics give you data you can use to make decisions about your startup.

Looking at statistics will allow you to determine if there is a decline, spike, or no change in the market.

Trends allow you to prepare for short and long-term changes in the market.

With trends and statistics, you may be able to identify any opportunities that may be missing in the marketplace that you can fill through your business.

Have a look at the resources offered below that offer trends and statistics related to this startup.

Wedding Services in the US – Industry Data, Trends, Stats | IBISWorld

The Wedding Report | Wedding Statistics and Unbiased Market Research for the Wedding Industry

The Wedding Industry in 2017 and Beyond

2019 Wedding Report | WeddingWire

Profitability and Revenue of A Wedding Venue Business

To keep your business and your lifestyle alive and well, you need to make sure you are generating enough revenue and making a healthy profit.

Both work hand in hand. Revenue without profit won’t get you anywhere, and profit without revenue doesn’t work.

So how much revenue and profit can you expect from this startup? No one will be able to tell you for sure, because there are too many variables involved.

For example, the following affect profitability:

  • Location
  • Pricing
  • Customer service
  • Products
  • Profit margins
  • Marketing
  • Demand

You may get an estimate of what to expect, but no one can give accurate numbers without knowing the above.

Have a look at the selection below that will give you a general overview of potential revenue and profit for this startup.

What is the average profit margin for venues hosting wedding receptions? – Quora

Weddings vs. Corporate Events: Which Are More Profitable? | Gather

Do Banquet Facilities Make Money? | Chron.com

Average Cost of a Wedding Venue – ValuePenguin

Licenses Needed To Start A Business

This section focuses on the licenses required for a business. When starting, you want to make sure you’re doing everything correctly and legally – especially when it comes to permits and licenses.

Have a look at the resources included in this post for an overview of what you need when it comes to permits necessary and licenses.

What Are the Legal Procedures to Start a Wedding & Reception Business? | Bizfluent

Could Your Wedding Venue Get Shut Down? – VAWE Network

See Our Resource Page For Resources To Get A License and Necessary Permits For Your Business

Reception Halls Business Insurance

Having the right insurance for your startup is very important. There are many types of insurance and you need adequate coverage for every aspect of your business. You need to make sure you’re covered for loss, damage liability, lawsuits, and other issues that can harm your business.

An experienced broker can help you get the right coverage and offer insurance for areas you haven’t considered.

Have a look at the resources I have selected for this section that will help you get the right insurance for your startup.

Banquet Hall Business Insurance, Liability Insurance For Reception Halls

Venue Owners Insurance Policy

If You Provide Rental Venues, Do You Need Business Liability Insurance?

Wedding Liability Insurance – Event , Venue & Liquor Liability | WedSafe

Business Insurance for Weddings – Encharter Insurance

Wedding & Special Event Insurance for Less | Progressive

See Our Resource For All The Business Insurance Resources You Need From One Page

Employee Considerations

Have you considered if you need employees for your startup? Maybe, in the beginning, you’ll be able to do most or all of the work yourself. But when your startup takes off you may not be able to keep up with running the business and doing all the work.

This section focuses on the type of employees you may need now or in the future to run a  business.

A List of Common Jobs You May Need For Running a Business

How To Finance Your Business

Have you given any thought as to how you’re going to finance your startup? Financing a business is difficult due to the fact that most businesses fail in the first few years. Therefore, banks see a startup as a high-risk.

In order to get the right financing, you need to present your business plan and provide adequate collateral. Have a look below for the resources needed that will help you finance your startup.

Event Venue Business Financing – Business Lending Authority

Considering Getting A Loan For Your Wedding Business?

See Our Resource Page For Resources To Help You With Financing Your Business

Business Plan

This section focuses on writing a business plan for your startup. A business plan will keep you focused. When you write a business plan, you have to think about each part in each section and it opens your eyes to many of the questions you need to fill in.

So, in other words, it makes you think about every part of your business.

A business plan is your roadmap for success. It also helps keep you on track and it’s essential when you have to apply for financing.

See the resources below that can assist you with your business plan.

Wedding venue business plan — Wedding Venue Owners Blog – Kristin Binford

Amazon.com: Progressive Business Plan for a Rental Banquet Hall: A Detailed Template with Innovative Growth Strategies (9781980642930): Nat Chiaffarano MBA: Books

 

See Our Resource For Tips On Writing A Business Plan

Marketing Plan

A marketing plan is something that will help you during the startup phase of your business, as well as when your business is up and running.

Writing a marking plan makes you think about how you’re going to get customers and how you will present your products and services.

Developing your plan makes you dig deep into the way you’re going to approach marketing your startup.

Keep in mind that a marketing plan can be adjusted as needed.

Once your plan is in place follow it, see working and do more of that. Find what’s not working and eliminate the tactics and try different tactics.

With marketing, it’s important to try new things and test. Never allocate a large amount of money on an untested marketing campaign — that’s a recipe for disaster.

Have a look at the following that can help you create a marketing plan for your startup.

The Guide to Creating The Perfect Venue Marketing Strategy

What Brides Want :: Effective Wedding Marketing Strategies

How to Increase Wedding Bookings At Your Hotel

How to Create a Venue Marketing Strategy | AttendStar

Wedding Venue Marketing Plan for Hoteliers – Are Morch, Hotel Marketing Coach

Internet Marketing Plan for Wedding Venue | Search Engine Optimization | Digital Marketing

9 Ways to Market Your Wedding Venue – Gather

See Our Resource For Tips To Write Your Marketing Plan

Business Cards

Your cards should look professional and offer the main benefit of doing business with you and using your products and services.

Have a look at the samples I have selected below that for ideas on designing your business cards to see what design appeals to you.

Elegant wedding venue brand design and logo design – Balinese Ballroom – Memphis wedding venues | Elegant logo design, Wedding logo design, Wedding logos

Create a unique logo for a Wedding Venue | Logo & brand identity pack contest

Free Wedding Logo Designs | DesignEvo Logo Maker

Designing Breathtaking Wedding Logos to Say “I DO” in Style

Wedding Services Logo Maker | Design Wedding Services Logos | GraphicSprings

See Our Resource For Creating Attractive Business Cards That Work

Wedding Venue Business Logo

Your logo is important: it lasts for years and it’s what people will use to identify your business once your business becomes well-known.

There are many considerations when it comes to designing your logo. Have a look at the list of resources I have selected for this section that will help you create a logo that works well for your business.

Elegant wedding venue brand design and logo design – Balinese Ballroom – Memphis wedding venues | Elegant logo design, Wedding logo design, Wedding logos

Create a unique logo for a Wedding Venue | Logo & brand identity pack contest

Free Wedding Logo Designs | DesignEvo Logo Maker

Designing Breathtaking Wedding Logos to Say “I DO” in Style

Wedding Services Logo Maker | Design Wedding Services Logos | GraphicSprings

See Our Resource For Tips To Create An Impressive Logo

Wedding Venue Software

Software makes complex processes easy and effective. There is a lot of general software used in business like Microsoft Office and various accounting packages.

Have a look at the resources below for the software that is essential or that can make your life easier when it comes to operating this startup.

Best Venue Management Software | 2019 Reviews of the Most Popular Tools & Systems

Banquet Hall Management Software + Wedding Venue Management

The Best Venue Management Systems to Keep You sane

Best Venue Management Software in 2019 | G2

BriteVenue | World’s #1 Venue software for managing weddings and events

Event, Venue & Catering Management Software | EventPro

Best Venue Management Software 2019: Reviews & Pricing

Office Equipment Considerations

What kind of business equipment do you need in your office? There are essentials and there are the things that people want for their office that come with all the bells and whistles.

When starting out, it’s a good idea to get only what you need to get started. Once your business is established and earning revenue, then you can upgrade your equipment and purchased the equipment you want.

You want to find a balance between getting equipment that will effectively do the job and costs.

You don’t want to pay for equipment that won’t do the job — that would be a waste. You pay for the cheap equipment and then pay for the good equipment. So, the cheap equipment ends up costing more than the better equipment.

Have a look at the resources I have selected for the office equipment you need for this startup.

See Our List For The Equipment You May Need For Your Office

Wedding Venue Businesses For Sale

This section offers listings for established businesses that are for sale.

There are pros and cons to buying an established business versus starting your own.

A few of the pros included:

  • Revenue comes in from the day you take over.
  • The business comes with customers.
  • The business has a proven track record and you know it works, etc.

A few cons:

  • The good and the bad comes with the business.
  • It’s harder to change the direction of an established business vs a new business.
  • The cost of buying an established business is usually higher than starting your own, etc.

Wedding Venues For Sale, 26 Available To Buy Now in the US

Wedding Businesses For Sale, 97 Available To Buy Now in the US

Wedding Venues For Sale, 92 Available To Buy Now in Worldwide

Banquet Halls For Sale – BizBuySell.com

Event Planning Businesses For Sale For Sale – BizBuySell.com

Franchisees Related To Weddings

There are pros and cons to owning a franchise over your own business.

Some of the pros include:

  • A proven business that works
  • An established business reputation
  • Established marketing

Some of the cons include:

  • You’re restricted in how you can run the business
  • Franchising costs

Have a look at the resources I have selected that offer the franchise related to this startup.

Franchise | Crystal Ballroom

Franchising Opportunities | Complete Weddings + Events

Event/Wedding Planning Franchise Opportunities

Wedding Planner Franchise Opportunities Guide

Is Running A Business The Right Move For You?

This section will give you insights that help determine if running a business is right for you.

Running a business is not for everyone. Owning a business is a dream for many people. It offers the chance of working your own hours, being your own boss, achieving financial freedom, and more.

It’s great to focus on all the benefits, but at the same time, you need to be aware of the difficulties involved in running a business.

Some people turn their passion into a business only to find they love what they are doing, but they don’t like the process of running a business.

Others enjoy running a business no matter what it’s about. Their passion is the process of running their own business.

See the following resources that will give you insights as to what’s best for you.

Click Here For A List of Important Steps You Must Consider When Starting A Business

Business Startup Checklist

This section offers checklists that you need when you’re starting a business. There are a few major issues that need attention and hundreds of small details.

Your major focus is to be up and running and generating revenue. It’s hard keeping track of the little things. That’s where startup checklists can help you manage everything and avoid missing anything important.

See the link below for the list of resources I have selected for some useful startup checklists!

Click Here To See The Business Startup Checklists Page

Skill Set Needed To Run A Business

This section deals with the skills you need to run a business. If you don’t have the skills, it’s not a problem most of the time because skills can be learned.

Even if you don’t have the skills but you have the budget, you can always hire someone with the skills to do the work and provide the services needed.

Have a look at the list below for more on the skills needed to run a business.

See Our Resource Page For Essential Business Skills You Need To Succeed

Top Wedding Venue Businesses

The section is designed for you to look at establishing startups. You’ll get an idea about the industry and market.

Take some time to go through each site for an overview of what you can expect from this type of industry.

Another issue to look for something that may be missing in the industry that you could provide.

See the list of established businesses related to your startup.

2019’s Hottest New Venue Openings Across the Globe

N.J.’s 41 highest-rated wedding venues, according to Yelp – nj.com

50 Amazing Wedding Venues – Best Places in the World To Get Married in 2020

Top 26 Coolest Wedding Venues in the United States – Green Wedding Shoes

America’s Best Wedding Venues

Tips For Marketing A Wedding Venue Business

This section offers tips and insights for marketing your startup. Marketing isn’t just for when you are getting started: It’s an ongoing process. It’s one of the keys that will keep your business up and running.

You could have the best product in the world, but if no one knows about it, then it’s useless. If you have the best product in the world, but people don’t understand it or know the benefits of it, then you won’t have any success in the sales department.

Marketing helps you understand your products and services from different perspectives. When you’re focused on marketing, you start to get experience in human behavior and look at things from different perspectives.

Have a look at the articles below that will give you an abundance of tips that you can use starting today.

Top 10 Social Media Marketing Tips for Wedding Venue Professionals | Wedding Advice | Bridebook

4 Ways for Wedding Venues to Attract More Brides and Grooms

5 Ways to Market Your Wedding Venue to Millennials – Gather

Venue Marketing Ideas, Tips and Strategies – Here’s How to Get More Bookings for Your Venue – Marketing 360®

5 Marketing Strategies to Grow Your Wedding Business

100 Powerful Wedding Business Marketing Ideas: The Complete Guide

Wedding Venue – Article Mix

These articles caught my eye as I was doing my research and I wanted to include them in this post.

Have a look at the list below for the tips and insights they provide.

The Dark Side Of Owning A Wedding Venue – Wedding MBA

5 Important Questions: Is owning an event venue right for you?

6 COMMON MISTAKES WHEN BUILDING A WEDDING VENUE – Kristin Binford – Medium

The 5 Biggest Venue Mistakes for Brides – PureWow

5 Mistakes Killing Your Wedding Business Profit

3 Wedding Planning Mistakes that Guests Hate

The 4 Biggest Wedding Reception Mistakes You Can Avoid

Courses Related To Wedding Planning

This section focuses on courses that can help you with your business. No matter how much you know, you can always learn more, learning and improving is part of life.

As a business owner, you should always be looking for ways to stay on top, improving the way you manage, reducing cost, improving efficiency, marketing, accounting, and specialized skills related to the products and services you offer.

You can learn a lot from experience, but that takes years to acquire. You can reduce that time by learning from others.

There are a lot of courses on the market that you can benefit from.

You can set 30 minutes a day to study. In around 20 days, this will become a habit. When it becomes a habit, it will feel natural.

Let’s move forward a few years. How much knowledge will you have gained from that 30 minutes a day spent learning?

Have a look at the following resources for the list of courses that can help you in this area.

Wedding & Event Design Online Certificate Course | Event Leadership Institute

Top 3 Wedding Planner Courses You Can Take Online — The Wedding Planner Book

Online Courses – Wedding Planning Institute

How to Become A Wedding Planner – Ashworth College

Home – AACWP – American Association of Certified Wedding Planners AACWP – American Association of Certified Wedding Planners

Online Event Planning Courses – QC Event School

Wedding Blogs To Follow

This section offers some popular blogs I have found related to your startup. Keeping track of industry-related blogs will help you stay on top of trends, news, marketing, industry tips, and more.

Takes some time on this section to see which blogs you want to follow.

Top 100 Wedding Blogs & Websites To Follow in 2019

Best Wedding Blogs To Follow In 2019 I The Blog Frog

12 Websites to Get Free Wedding Marketing

8 Blog Post Ideas For Wedding Venue – Content by Missy

37 Practical Blog Post Ideas For Wedding Professionals – Evolve Your Wedding Business – Wedding Business Marketing & Strategy

Top 100 Wedding Blogs to Follow for Your Dream Wedding – save on crafts

Industry Related Trade Publications

Industry trade publications are a great source of information for news, innovations, and tips, related to the industry you’re getting into.

These publications go way beyond your business and can give you an overview and knowledge you can use to improve your business and come up with new ideas.

Have a look at the publications I have found related to this industry.

Wedding Planner Magazine | A quarterly print publication that strives to educate and inspire the wedding industry

Premier Weddings

Every Bride’s Wedding Magazine For 2019 Southern Weddings

Exquisite Weddings | San Diego Wedding Magazine & Blog

Top 10 Wedding Magazines

Wedding Magazines | Artfully Wed Wedding Blog

Wedding Glossaries

This section allows you to become familiar with all the industry terminology that you need to know as the owner of this startup.

Terminology will come naturally with time and experience. During the startup phase, it’s important that you are aware of the terminology.

Have a look at the resources I have found related to the terminology you need to become familiar with related to this industry.

Glossaries of wedding terms

The A to Z of Planning a Wedding: A Glossary to Help You Master the Lingo | Martha Stewart Weddings

Wedding Planning Terminology from A to Z — PACIFIC ENGAGEMENTS

Wedding Venues Books

Books cover a lot of information and offer structure on the topic they are written about. If you take a look at the table of contents you can gain an overview of the areas you’ll want to pay attention to.

Have a look at the links below for books related to books available related to this business.

Books From Amazon Related To Wedding Venues

Google Book Search Related To Wedding Venues

The Latest About Wedding Venues

This section provides resources that will help you stay on top of the latest news, web content, books, videos, and tweets related to this industry.

When you keep track of changes, you’ll always be informed about industry updates and gain ideas for ways to improve or protect your business with changes happening.

Have a look at each section below for more.

Google Searches

Latest Search Results Related To Wedding Venues

Latest Scholar Search Results Related To Wedding Venues

Latest Image Search Results Related to Wedding Venues

News

Latest News Related To Wedding Venues

Twitter

Tweets Related To Wedding Venues

YouTube

Videos Related To Wedding Venues