People ask me, why I think a wedding venue is a good business to start, most are skeptical on how this type of business can be successful, and others just plain think I am crazy when I tell them my plans. Check out these numbers what do you think? Do wedding business's making a profit?

Wedding Industry Overview

With more than 2.5 million weddings per year in the U.S. and an average budget per wedding of nearly $30,000, according to The Wedding Report, Inc., the wedding event rental industry has always thrived.  It is estimated that between $40 and $90 billion is spent annually on American weddings.  For reception site rentals, an average of $8,000 is spent per event, with rentals being much higher in major metropolitan areas of the northeastern U.S., according to a study compiled by Jaeger Interactive Communications.  The average wedding cost in Cullman, Alabama is $19.245 with the wedding and reception venue costs averaging about 13.5%, or $2,295, of that cost.

Opinions vary on the effect of recent economic conditions on the U.S. wedding industry.  The wedding industry may be recession-proof, but wedding budgets are not.  Some analysts predict that wedding industry revenue will remain consistent year-over-year and may even enjoy a spike due to marriages by the children of baby boomers.  According to the National Association of Catering Executives, however, 48% say they have seen a decline in recent wedding spending.  Experts agree that brides, grooms and planners are concerned with saving money and getting the best value on their special day.  Understandably, brides, grooms and planners alike will look for more cost-effective event venue options into the near future. 

Brides and grooms may decide to move forward with the ceremony, but there is increasing evidence of efforts to save:

·         Haggling with wedding vendors

·         Buying wedding supplies online

·         Using discount merchants

·         Doing more of the work themselves

Start up cost....Say you already have the location and looking to get the large or main things you need for a venue  to hold 250 people.

One of the places I found online is : Chairs 4 Less : http://www.churchchairs4less.com/

(500)  White Resin Stacking Chiavari Chair               $34.99 each  total  $17,495.00

(30)  96 x30 long rectangle tables (reception tables)  $250.98 each total $7,529.70

(30) 72in round tables (reception tables)                     $258.98 each total $7,769.40

(1) Half Moon table (cake table)                                   $97.99 each   total $97.99

(2) Buffet Tables                                                             $ 140.98 each total $281.96

(2) 3 gallon drink dispensers                                         $290.99 each total $581.98

TOTAL: $33,756.03

American Discount Tableware     http://www.americandiscounttableware.com/

China (plates and bowls) Flutes, Drink glasses, and Cutlery     Total: $3,844.23

Table Linens                                                                                  Total $3,565.08 

GRAND TOTAL: 41,165.34

There is still many things to be added to this list, but these are the larger things or the necessities for a venue.

 

 

 So working on how to get started, how to find clients and get your NAME out there.

This blog is extremely informative:

 Creative Ways to Book More Weddings

1. Partner with other businesses the couple visits just BEFORE you.
Now if your business is a wedding venue, you’re one of the first stops on the wedding planning checklist. But there are a few businesses the bride gets to know before you…
Jewelry Stores – The engagement ring usually gets purchased before the question is popped and the date is set. Partner with a local jewelry store and make the soon-to-be engaged couple an enticing offer that puts your location top of their list.
Bridal Shops – Brides are notorious for shopping for a dress…even before he pops the question! This is a great place to introduce your venue to brides before any of your competitors.
Give your partners a voucher coupon to present to newly engaged couples that makes a special introduction to your venue as soon as the engagement is official.
Ideas:

• A free romantic brunch or lunch at your venue.
• An exclusive invitation to a wine tasting.
• A wedding planning workshop hosted at your location.

If you target wedding businesses like these who work with similar clients in your budget range, you’ll get extremely warm leads delivered right to your door. Win them over, and you’ll book up your calendar.
2. Meet them online.
One of the biggest challenges a couple faces when planning a wedding is finding the right location. Consequently, it’s the #1 question asked in the chat rooms and the #1 search done online. They’re simply rabid for wedding venue ideas and reviews.
Be there online when they start the hunt for the perfect wedding venue.
Step 1 – Type the name of your local area followed by the word “weddings” or “wedding locations” into Google.
Example: Little Rock wedding locations, Dunedin weddings, Portland wedding venues
Step 2 – Make a note of the websites that come up on Page 1. Is your on the list? If not…
Step 3 – Get listed on as many of those websites as possible.

• Advertise or list yourself on every site on Page 1.
• Partner with those websites and businesses to get your venue listed there.
• Write a guest blog post for them in exchange for a link to your website.

Step 4 – Get your location reviewed on these free local business directories.
Promote your venue on every local online hot spot and you’ll book more weddings.
3. Feature your Real Weddings everywhere.
Brides are addicted to real weddings, and they’re especially interested in seeing photos and reading reviews. Partner with a photographer to submit yours to wedding websites and blogs such as Style Me Pretty and the Knot. Try out this list of top wedding blogs for starters.
4. Run a Facebook or Google PPC Ad campaign.
Facebook Ads – These are much simpler to set up and run, so they’re a good place to start for pay per click beginners. Target demographics by Relationship Status (Engaged or In a Relationship), Interests (My Fiance), Age, Sex, even affluent zip codes in your area so that ONLY your prospective clients see your ads.
Google PPC – This is another way to get onto Page 1 of Google when brides and grooms are searching for locations in your area. WARNING: This is much more complicated and more difficult to do well than Facebook Ads, so please invest in PPC training or hire someone to help you. You’ll end up wasting time and money otherwise.

 

 

3 Simple Steps to More $$$

The key to getting your location in front of couples who are searching for a venue right NOW is to:

1. Think like a bride/groom.
2. Find out where they’re searching.
3. Meet them there.

Use your creative genius to come up with even more ways to meet and wow those couples right from the start.

 http://www.bookmorebrides.com/4-ways-for-wedding-venues-to-attract-more-brides-and-grooms/