If you find passion in helping people having a good time, creating a flawless experience and you’re interested in turning that passion into a business you might want to consider starting up a venue of some kind and become part of the event industry!
If that’s your case, we want to sum up for you this great advices that Katie O’Reilly (Senior Partner of Business Development at Kenmare Catering and Events) gives in an interview with Eric Goldschein for Fundera to those starting an Event Space.
1. Find a location that is convenient and comfortable
Securing a quality building in a good location is the first and most important step in the process.—your building and location will be a fixture of your business.
2. Start your equipment investments off small… (and do it right!)
After what is likely to be a heavy investment in your venue there might not be much left over for the equipment, like tables and chairs or silverware. This is common, says O’Reilly, and she advises starting slow in this category.
– And this is why we want you to remember the benefits of a good investment in quality chairs like ours! Doesn’t matter if is a small investment at the beginning, but the best thing you can do is making that investment last.- See our products here.
3. Prepare to eat the cost of promotion
“The best way to promote your business is networking and getting involved with other people in the industry,” says O’Reilly.
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.
4. Price yourself in line with the market—if not a little lower
When it comes to charging your customers, you’ll need to follow the same pattern that most other businesses do: Put yourself in line with the rest of the market.
O’Reilly says that she recommends venues that are just starting out to book whenever they can and worry about making your expected profit later.
5. Always keep the food conversation going
You have to watch the trends and be aware of seasonality, expenses, and where we would pay the extra for the client to have that item of the highest quality.
You need to be conscious of what makes the most economic sense.
What we think is a great piece of advice for those looking to break into the industry:
“Have your product be as promised, if not better,” O’Reilly says. “Make sure you’re aware of it, and be involved. If you’re an artist, you have to control your art.”
If you want to know more, you can read the complete interview here.
It’s time for you to turn that passion into business!
If you want to start an Event Space we can Help You! The Chairville offers wholesale pricing for event chairs and Financial options are available.We have unbeatable prices because our business is helping your business to save money.
Contact us today!
1 888 253 0956