In 2012, the median average wedding cost $18,086, and there are approximately 2.5 million weddings across the country every YEAR. This means that the wedding industry in the United States is a multi-billion dollar industry, and shows no signs of slowing down.
Generally comprising 28% of the average wedding budget, receptions rank the #1 expense for most couples. This is good news for wedding venue owners and managers! If you’ve been thinking about starting your own venue, there are plenty of reasons to do so.
Why Should You Open A Wedding Venue?
Picture it: lines of white wedding chairs draped in ribbon, lined up along a grassy field overlooking a sunset. The happy couple exchanges their vows and caterers are on hand to pop champagne bottles for the toasts.
Now picture this: it’s your hall, barn, or home that’s hosting the happy occasion. When you open a wedding venue, you literally help make people’s dreams come true. If you’ve been thinking about moving forward with a venue, there are plenty of reasons to do so.
For starters, weddings are a lucrative industry. It continues to grow every year, making it a relatively safe long-term investment. And barring most Bridezillas, weddings are generally fun events to throw. Plus, when you own property that gets rented for occasions like weddings, your real estate investment can pay out some serious dividends over time.
When you’re just getting started as a venue, you’ll want to find high-quality wedding furniture for sale right off the bat. That includes white wedding chairs like Chiavari chairs, linens, decorations, tables, flatware — everything you need to throw a great party. Here are a few must-have (or at least must-consider) items to start out with.
Outdoor wedding chairs — you might not be planning on managing an outdoor wedding venue, but if you have the space, you will use it. People love getting married outdoors, so making sure you can accommodate them is imperative. If you’re planning on offering an outdoor option, you’ll want to have a stock of outdoor chairs specifically designed to withstand sun, heat, rain, and other elements.
When looking for wedding tables for sale, you should err on the side of quality whenever possible. Banquet tables are going to be an extremely versatile part of your rental inventory, holding things from buffets to gifts and much more. Square or round, rectangular and folding, there are tons of wedding tables to choose from, but your budget and space will determine how many you can start with.
One often overlooked, but commonly used item, is a wedding backdrop. Wedding backdrops are gaining popularity as wedding photobooths become a more standard addition to photography packages. By offering drapes as an additional rental item, you’ll be able to pad your invoice while providing a desired service.
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, you’ll 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 doesn’t 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, you’ll be set for success.Call the wedding furniture rental experts at Event Stable at 866-360-4642. We can help you get started with a venue package that’s right for your needs!