Should I Start a Wedding Venue in 2020?

Should I Start a Wedding Venue in 2020?
By Larah Winn
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Should I Start a Wedding Venue in 2020?

Here at EventStable we pride ourselves on helping our new party rental and venue customers make their first inventory purchases.

Beyond recommending folding chairs and tables, we also aim to give our customers thoughtful advice based on our event industry experience. 

With uncertainty looming because of Covid-19, we understand those who have had hopes of starting a party rental company or opening up a wedding venue, now have reservations about their dream businesses. 

Today we’re going to talk more specifically about wedding venues as we know many are wondering if it is wise to start or purchase a wedding venue during this pandemic.

While the answer isn’t straightforward, we can offer tips to take into consideration if you are planning on starting a wedding venue in 2020.

Do Your Due Diligence

This may seem a bit obvious but before you start envisioning your ideal wedding venue, you’re going to have to do a lot of research - a lot.

First off, understand your market. Is it already saturated with large barn venues? Is there room to offer something your future competition isn’t?

Learn everything you can about your location and what types of brides you are hoping to attract. We’ve previously written about How to Make Your Wedding Venue More Attractive to Brides.

If you are considering building or renovating an existing property to make it a wedding venue, your first step should be to check with zoning.

What potential zoning obstacles could you face? Never purchase without knowing if the property has approval by zoning to hold weddings.  

Lastly, understand what it takes to run a wedding venue. Reach out to venues you admire and learn about what is required of them to successfully run their business.

Often this demands working weekends and dealing with potentially unruly wedding guests.

If you aren’t ready to commit your time and energy, then it may not be for you.

Understand New Guidelines

As the wedding industry begins to sort out postponements and cancellations due to Covid-19, there is hope for the future.

While we may not know how the Coronavirus pandemic will evolve, we already know that there are new guidelines for weddings and larger gatherings. 

Ultimately for the foreseeable future, weddings will be more intimate. We’ve recently shared a helpful blog post on How to Help Your Customers Throw Intimate Gatherings.

Think about how your new venue would adhere to these guidelines. Is it large enough to accommodate social distancing? Does it have the technology setup to allow guests to attend the wedding virtually?

There are many new possibilities to consider when opening a wedding venue in 2020.

Know Hidden Costs

It is widely known in the industry that almost every new wedding venue will go over their budget when starting out.

It is important to understand hidden costs with starting and running a wedding venue.

For example, when it comes time to purchase your first wholesale wedding chairs, there are hidden costs you should prepare for. Our owner wrote more in depth about inventory costs here.

If you’re thinking about opening a wedding venue in 2020, don’t let uncertainty stop you.

Do your research, know your potential costs and be prepared to work hard for your dream wedding venue!


Related Resources:

Why You Should Start a Wedding Venue

Questions You Should Ask Before Starting a Wedding Venue

Author: Larah Winn

Larah is the creative and marketing specialist here at EventStable. She lives in the old axe factory town of Collinsville, Connecticut with her husband and dog Baya. In her free time you can find her helping her husband restore their 1860's cottage.

June 7, 2020