The Venue Podcast

Listener Q & A: Practical Tips for Reviving a Wedding Venue Business


Listen Later

In this episode, co-hosts Kinsey Roberts and Lindsay Lucas respond to a listener's inquiry about reviving a farm-turned-wedding venue.

The listener, Amanda, faced discouragement after hosting one wedding that led to financial loss, followed by the pandemic's halt to their business. With the farm's future at stake, Amanda contemplates hosting weddings again as a financial lifeline.

This episode provides a blend of empathy and practical advice for venue owners facing challenges in their current venue situation. Kinsey and Lindsay offer actionable steps to stabilize and grow a venue business without overextending financially.

They emphasize creative thinking, flexibility, and grit as essential qualities for overcoming adversity in the venue management industry.

• Challenges: Hosting one wedding before COVID led to a financial setback. • Current Situation: The need to revive the venue is urgent to sustain the farm.

Immediate Strategies Without Further Investment Kinsey's immediate advice is to utilize the current venue space without additional investment, focusing on attracting clients who are looking for what the venue already offers. This approach emphasizes minimizing costs while maximizing the potential of the existing infrastructure.

• Utilizing Current Resources: Capitalize on the venue's existing state to avoid further expenses. • Target Market: Identify and cater to clients who desire the venue's current ambiance and facilities.

Generating Quick Wins with Creative Event Planning Lindsay suggests exploring alternative event opportunities for quick financial gains. These include organizing farmer's markets, corporate retreats, and themed photography sessions. The idea is to create a diverse event portfolio that can bring in immediate revenue.

• Diverse Events: Consider hosting different types of events like markets and retreats. • Partnerships: Collaborate with photographers for seasonal mini-sessions to fully book the calendar.

Long-Term Financial Planning and Hustle Mindset The hosts advise on structuring payment plans for weddings to improve cash flow and discuss the importance of a 'hustle mindset,' including taking on additional jobs if necessary. They stress that temporary sacrifices may be required to save the family farm and sustain the business.

• Payment Structure: Implement a payment plan for clients that ensures steady cash flow. • Adaptability: Consider supplementary employment as a temporary measure to support the venue business.

...more
View all episodesView all episodes
Download on the App Store

The Venue PodcastBy Kinsey Roberts and Lindsay Lucas

  • 4.8
  • 4.8
  • 4.8
  • 4.8
  • 4.8

4.8

57 ratings


More shows like The Venue Podcast

View all
Hidden Brain by Hidden Brain, Shankar Vedantam

Hidden Brain

43,627 Listeners

The EntreLeadership Podcast by Ramsey Network

The EntreLeadership Podcast

4,393 Listeners

The Goal Digger Podcast | Top Business and Marketing Podcast for Creatives, Entrepreneurs, and Women in Business by Jenna Kutcher

The Goal Digger Podcast | Top Business and Marketing Podcast for Creatives, Entrepreneurs, and Women in Business

12,064 Listeners

Crime Junkie by audiochuck

Crime Junkie

368,611 Listeners

Morbid by Ash Kelley & Alaina Urquhart

Morbid

99,069 Listeners

Murder With My Husband by OH NO MEDIA

Murder With My Husband

18,243 Listeners

The Venue RX by The Venue RX Podcast

The Venue RX

46 Listeners

Two Hot Takes by Morgan Absher

Two Hot Takes

7,845 Listeners

Own Your Business by Sam Jacobson with Ideaction

Own Your Business

56 Listeners

Marketing Against The Grain by Hubspot Media

Marketing Against The Grain

355 Listeners

The Mel Robbins Podcast by Mel Robbins

The Mel Robbins Podcast

20,347 Listeners

Good Hang with Amy Poehler by The Ringer

Good Hang with Amy Poehler

10,036 Listeners