5 Venue Hunt Challenges & How to Solve Them Event Venue Startup Tips

finding the right property for your event venue can feel downright discouraging you're excited to finally take action but every space is either too expensive not zoned correctly or it just doesn't fit your vision it's exhausting right i know i've been there but here's the good news you're not alone and there is a smarter way forward today I'm going to walk you through five challenges I see all the time when searching for an event venue and more importantly how to solve them whether you're just starting out or deep into search these tips will save you time money and stress so let's dive in [Music] let's start with zoning this is where a lot of people get tripped up not all properties are legally allowed to operate as an event venue and trust me wasting time on the wrong ones is frustrating and expensive before you even tour a property call your local zoning office and confirm that that event venues are allowed ask about special use permits they sometimes allow exceptions and most importantly work with a real estate attorney to make sure you're meeting fire codes parking requirements and noise regulations before you sign anything doing your homework now will save you from legal nightmares later and believe me I've been there and I've seen it happen now let's talk about money because commercial properties are no joke prime locations are expensing ching and can add up quickly but don't count yourself out just yet first expand your search area even just 15 to 30 minutes outside the major area the major cities can save you tens of thousands of dollars at least instead of buying this lets you test the market before making a major commitment look into creative financing like small business loans grants or even investor partnerships and don't be afraid to start small a more intimate venue can allow for growth over time your dream venue may not look like you want or expected to look yet and that's okay you'll get there here's a big one skipping market research if you don't know your market how will you stand out or even survive start by identifying your ideal clients whether it's weddings corporate retreats birthday parties or special events then research the local demand what venues already exist what do they charge how are they booked are they booked already and what are their amenities make sure your location is accessible and convenient for your audience make sure that transportation is nearby and let the data drive your decisions not your emotion one of my clients was about to sign on a beautiful venue in a saturated area we pushed the pause button to do a quick competitor scan and found she was up against 12 similar venues within 5 miles we shifted to a nearby underserved town and within three months she had booked 15 events that's the power of smart research now a lot of people think they need a ballroom or banquet hall but guess what some of the most profitable venues are anything but traditional think non-traditionals uh non-traditional event venues barns warehouses historical homes art gallery if you have land consider building outdoor setups with tents or pavilions check out underutilized spaces old churches schools vacant buildings that can be transformed and don't forget partnerships some restaurants breweries or even co-working spaces allow for a venue rentals your venue's uniqueness could be your biggest selling point now let's talk about landlords this may be one of the hardest parts and I know I've had to deal with landlords in negotiating my space for my venues many are hesitant to lease to event venue they are worried about noise property damage and disrupting other tenants but you can ease their concerns with preparation build a portfolio that includes a clear business plan a cover letter with your background and intentions and references from trusted sources or anybody that you've worked with in other venues or any other event capacity then address their concerns directly your noise management plan security details parking and maintenance strategy they're just not rejecting you they're protecting their investment and you have to show them how you intend to protect their investment show them that your business is low risk and high reward and you'll stand out let's do a quick recap zoning budget market research alternative property and landlord hesitation each one of these is solvable and now you have the tools to make a smarter decision i know the venue hunt can feel overwhelming but you don't have to do it alone tell me in the comments what's one thing that's held you back from securing your venue space zoning budget fear of choosing the wrong one let's talk about it below i read every single comment and if you're ready for one onone help check out my coaching sessions at bonniehawthorne.com i'll walk with you through the entire process step by step if this video helped you go ahead and hit the like button subscribe and turn on notifications so you never miss another tip thanks for watching and I'll see you in the next video