The Venue Podcast

In the latest episode of The Venue Podcast, we dive into the topic of client gifting strategies for venue owners, emphasizing the balance between thoughtfulness and budget. Our hope in today’s episode is to inspire venue owners to implement or refine their gifting strategies, ensuring you make a lasting impression on your clients. Here's a closer look at the insights and tips shared:

Client Gifting as a Dual Purpose Tool: We underscore that gifting is not just an act of kindness but also a strategic marketing move that helps in building stronger relationships with clients and promoting your venue through positive word-of-mouth.

• Nine Creative Gift Ideas:
1. Customized Welcome Gift Baskets featuring local treats, personalized notes, and a bottle of champagne.
2. Personalized Stationery, useful for wedding planning notes or thank-you cards.
3. Regional Wedding Magazine Subscriptions, providing inspiration and local vendor options.
4. Spa Gift Certificates for relaxation during the stressful wedding planning process.
5. Custom Sketch of Your Venue, a keepsake item for couples to cherish.
6. Comprehensive Wedding Planning Books to assist in the organization and planning.
7. Personalized Wedding Ornaments, a festive reminder of their special day.
8. Monogrammed Items, offering a personal touch that celebrates the couple's union.
9. Custom Spotify Playlists, a free and thoughtful way to share music that might resonate with the couple's journey.
• Strategic Gifting Moments:

• Upon Booking: A gesture of welcome and excitement about their decision.
• After the First Planning Meeting: Offering practical items like notepads or stationery.
• During Stressful Milestones: A spa certificate to encourage relaxation.
• Six Months Before the Wedding: Checking in and reminding couples of your support.
• During the Final Walkthrough: Providing vow books as a thoughtful touch.
• One Month Before the Wedding: Focusing on relaxation-focused gifts.
• A Week Before the Wedding: Building excitement with a custom playlist.
• On the Wedding Day: A small, personalized gift as a token of appreciation.
• After the Honeymoon: Sending a framed photo from their wedding day to prolong the joy.

We also recommend the book "Giftology" by John Ruhlin for further inspiration on crafting a meaningful client gifting strategy. If you’re interested in one on one Venue Consulting with Lindsay, visit her here: https://thelindsaylucas.com/

In today's episode of The Venue Podcast, Kinsey Roberts steps in solo, as Lindsay Lucas dedicates time to her thriving one-on-one venue consultations! You can reach out to Lindsay here about Venue Consulting: https://thelindsaylucas.com/ We're chatting and brainstorming about all things HIRING when it comes to your first or next Marketing Assistant. 

Recognizing the Right Time for a Marketing Hire

Three pivotal signs indicating it's time to bring a marketing professional on board: 1. Growth Signals: Your venue might be experiencing a surge in bookings, or you're aiming to upscale your brand or delve into new market segments. An overload of leads you can't manage alone also points towards this need. 2. Strategic Shifts: Whether it's a brand overhaul, targeting a new customer demographic, or significant enhancements to your venue's offerings (like adding accommodations or a decor line), these changes necessitate specialized marketing expertise. 3. Expertise Gaps: Realizing the complexities of digital marketing or identifying areas beyond your skill set are clear indicators that a marketing expert could significantly benefit your business.

Finding Your Marketing Match

Four places to scout for the perfect marketing assistant: - Industry Networks: Engaging with professionals through industry associations or social media groups can lead you to potential hires. - Job Platforms: Utilizing job boards like Indeed, LinkedIn, or FlexJobs can open doors to candidates with the specific skills you seek. - Referrals: Tapping into your industry contacts for recommendations can yield valuable leads. - Freelancing Platforms: For those not ready to commit to a full-time hire, exploring freelance marketers could be a strategic initial steps. Pre-Hiring Steps to Success

To ensure you're making an informed decision, preparation is key:  1. Define Your Goals: Clarity on what you aim to achieve with your marketing efforts is crucial. 2. Audit Your Current Marketing: Understanding what's working (or not) will help tailor your search for a marketer with the necessary expertise. 3. Budget Accordingly: Determine your financial readiness for this addition, keeping in mind that effective marketing strategies are an investment that pays off. 4. Develop a Job Description: Crafting a detailed job description will attract candidates aligned with your needs.

Engaging Interview Questions

In the episode, we detail six specific questions to ask your potential hires to gauge their skillset and understand if they're the best fit for the position you're hiring for. We also share the benefits of having candidates perform a small sample project.

Kinsey's Favorite Place to Buy Property Signs: https://www.smartsign.com/

Living on-site at your venue can blend the lines between personal privacy and professional spaces. In a candid discussion on The Venue Podcast, hosts Kinsey Roberts and Lindsay Lucas share their perspectives on managing this unique situation. Kinsey, who lives on her venue property, offers firsthand advice on maintaining privacy while ensuring a seamless experience for guests.

One of Kinsey's first tips involves clear signage and gated areas to direct guests appropriately and prevent them from inadvertently accessing private areas. This not only aids in guest navigation but also serves as a first line of defense for privacy. By locking gates and posting directional signs, venue owners can significantly reduce unwanted foot traffic near their personal residences.

• Practical Measures: Utilize gates and custom signs to guide guests, minimizing confusion and protecting private spaces.

Venue policies can be strategically crafted to support the dual purpose of the property, serving both as a business and a residence. Kinsey highlights how specific rules around noise control and event end times not only respect neighbors but also contribute to a peaceful living environment for the venue owners themselves.

• Policy Implementation: Adjust venue policies to ensure they accommodate your living situation, balancing guest experience with personal needs.

Interestingly, Kinsey shares her journey from openly discussing her on-site residence with clients to choosing a more reserved approach. This shift was prompted by unexpected requests from clients and vendors, illustrating the importance of setting clear boundaries. However, she also notes situations where disclosing her residence can be advantageous for policy enforcement and operational clarity.

• Communication Strategies: Weigh the pros and cons of disclosing your on-site residence, focusing on privacy while maintaining open lines of communication where beneficial.

Looking ahead, Kinsey and Lindsay ponder the implications of raising a family on a venue property, particularly as children grow older and become more independent. They discuss potential safety and logistical considerations, underscoring the importance of proactive planning and policy adjustments to accommodate changing family dynamics.

• Future Considerations: Anticipate how living on-site will impact family life in the long term, especially as children reach driving age, and plan accordingly.

In episode 68 of The Venue Podcast, Kinsey Roberts and Lindsay Lucas address a recurring question from Airbnb owners about transitioning their successful short-term rental properties to also serve as wedding venues. This episode unpacks the considerations and steps needed to capitalize on the burgeoning demand for intimate and mid-sized weddings at unique locations like Airbnb properties.

• Initial Considerations: Recognizing the overlap between the short-term rental and wedding venue industries, Kinsey and Lindsay highlight the growing interest among Airbnb owners in hosting weddings.
• Key Questions: They dissect an inquiry from Stephanie, who wonders how to venture into weddings without disrupting her successful Airbnb business.

One of the first hurdles mentioned is Airbnb's strict no-events policy. Kinsey points out that while Airbnb currently prohibits large events, including weddings, there's a workaround by booking weddings directly, bypassing Airbnb's platform. This approach, however, requires additional marketing efforts and the creation of a separate business entity for the wedding venue aspect.

• Direct Booking Strategy: Encouraging Airbnb owners to consider direct bookings for weddings to circumvent platform restrictions.
• Legal and Marketing Considerations: Highlighting the importance of adhering to Airbnb's policies while exploring direct marketing strategies for wedding bookings.

Lindsay emphasizes the importance of treating the wedding venue as a distinct business venture, necessitating investments in infrastructure, legal structuring, and dedicated marketing efforts. This approach ensures that both the Airbnb and wedding venue operations can flourish without infringing on each other.

• Investment in Infrastructure: Discussing the potential need for physical upgrades or additions to accommodate weddings.
• Separation of Business Entities: Advising on the legal and financial separation of the short-term rental and wedding venue businesses for clarity and efficiency.

Kinsey suggests innovative ways to utilize the success of the Airbnb business to fuel the wedding venue venture. One such strategy involves building an email list of past and potential guests through tools like StayFi, enabling direct communication about wedding opportunities outside the Airbnb platform.

• Building an Email List: Utilizing tools to capture guest emails for direct marketing of wedding services.
• Capitalizing on Warm Leads: Leveraging the positive experiences of Airbnb guests to introduce them to the wedding venue offering.

In the latest episode of The Venue Podcast, Kinsey Roberts and Lindsay Lucas tackle the complex subject of budgeting for renovations, a crucial aspect of managing a wedding venue. Lindsay emphasizes the significance of phased development, advising venue owners to break down their vision into manageable, financially viable stages. This approach not only aids in securing funding by reducing the immediate financial burden but also allows for strategic growth and improvement over time.

• Phased Development: Implementing your venue’s vision in stages to manage costs and growth effectively.
• Strategic Improvements: Prioritizing renovations that enhance client experience and, by extension, the venue's appeal.

Kinsey shares her personal journey with venue improvements, highlighting the benefits of cash-based renovations to avoid substantial debts. She regrets not integrating certain necessary improvements, like storage solutions, into the venue's initial financing. These reflections provide valuable lessons on the importance of foresight in planning and the balance between enhancing client experience and managing financial health.

• Cash-based Renovations: Kinsey’s approach to funding improvements through the venue’s profits, minimizing debt.
• Importance of Foresight: Recognizing the need for essential improvements early to integrate them into initial financing plans.

When contemplating renovations, Kinsey advises weighing the cost against the potential return on investment (ROI). While some improvements directly impact revenue, others enhance the client experience or operational efficiency. These decisions require a careful assessment of the venue’s financial status, future booking projections, and the overall impact on the venue's marketability and client satisfaction.

• Assessing ROI: Evaluating the financial and experiential return of proposed improvements.
• Operational Efficiency vs. Client Experience: Balancing renovations that streamline operations with those that directly benefit clients.

Kinsey opens up about her method for prioritizing projects and the learning curve involved in venue management. She underscores the significance of not dwelling on past decisions but learning from them to make informed future choices. Moreover, setting aside a "fun money" budget for annual improvements allows for continuous enhancement without compromising the venue’s financial stability.

• Prioritizing Projects: Using a systematic approach to determine which renovations to undertake based on their impact and cost.
• Learning from Experience: Kinsey reflects on her journey, stressing the value of learning from past decisions to guide future renovations.

Reflecting on the Desire to Sell

In this episode, Kinsey and Lindsay provide a comprehensive guide for venue owners contemplating a sale. They cover emotional, strategic, and practical aspects, offering listeners a holistic view of the decision-making process. The message is clear: whether deciding to sell or combat burnout, the approach should be methodical and data-informed.

• Genuine Desire vs. Temporary Burnout: Assess if selling is a response to recent hardships or a well-considered decision.
• Impact of Recent Years: Recognize the exceptional nature of challenges faced by venue owners recently.

Preparing for the Sale

Lindsay, with her experience in selling businesses, advises owners on initial steps for selling a venue. She emphasizes the importance of early planning, understanding the end goal of the business, and preparing for potential outcomes. This involves evaluating the business's worth, legal structuring, and tax planning.

• Business Evaluation: Use resources like www.bizequity.com to determine the venue's value.
• Legal and Tax Considerations: Seek the expertise of acquisitions and real estate attorneys for informed planning.

Addressing Burnout

Kinsey provides practical advice on dealing with burnout. She differentiates between being disorganized and being genuinely burnt out, emphasizing the importance of having efficient systems in place. "Learn to rest, not to quit," she advises, suggesting that sometimes taking a break can rejuvenate one's passion for the business.

• Identifying Burnout: Understand the root cause—whether it's organizational issues or true exhaustion.
• Overcoming Burnout: Implement systems to improve operations and consider taking a break to recover.

Making a Smart Business Decision

Finally, the hosts delve into the business side of selling a venue. They stress making decisions based on data and numbers, rather than emotions. If an owner decides to sell, they should ensure their business is in top shape, from financials to online presence, to maximize its value.

• Data-Driven Decisions: Let financial performance guide whether to sell the venue.
• Optimizing Business Value: Refresh social media and other business aspects to increase the venue's marketability.

The Surge of Interest from Wealth Management Firms In a recent wave from January to June 2023, Lindsay observed an unusual trend: a number of wealth management firms expressed keen interest in investing in the wedding industry, specifically wedding venues.

After some thorough research, she confirmed that these firms were independent of each other and scattered across the US, from New York to California. Their goal was to invest large sums, often with the intent to acquire and grow various wedding venue businesses.

• Diverse Interest: Multiple wealth management firms are looking to invest in the wedding industry.
• Investment Goals: Strategies range from flipping venues for profit to monopolizing local markets.

Initial Skepticism and Due Diligence

Lindsay shared her initial hesitations about these inquiries, emphasizing the importance of due diligence. She expressed concern over the firms' approach, which seemed to undervalue the hard work of venue owners by referring to their businesses as "mom and pop" venues. The firms aimed to purchase profitable venues, with profits matching their investment, which Lindsay questioned, suggesting that a venue making significant profits wouldn't likely sell for just one year's earnings.

• Protecting Venue Owners: Approach inquiries with skepticism and due diligence.
• Understanding Value: Consider the true worth of a profitable business before entertaining offers.

Negotiating Power and Legal Protection

The hosts advised venue owners to involve legal counsel in any serious acquisition discussions. With wealth management firms likely having extensive legal and financial advice, it's crucial for venue owners to level the playing field with their own experts, particularly acquisitions and real estate attorneys.

• Legal Representation: Engage an acquisitions attorney and a real estate attorney when approached.
• Know Your Worth: Ensure you understand the full value of your business and have professional financial advice.

Emotional Considerations and Strategic Decisions

Moving beyond the financials, Kinsey and Lindsay discussed the emotional and strategic aspects of potentially selling a venue. They advised venue owners to separate emotions from the decision-making process and to consider the long-term implications for the industry and their personal lives.

• Emotional Detachment: Keep emotions away from the transactional aspect of selling your business.
• Future of the Industry: Reflect on the potential impact of such sales on the wedding industry's sustainability.

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.

In this episode of The Venue Podcast, hosts Kinsey Roberts and Lindsay Lucas delve into the intricacies of managing in-house bar services at your wedding venue. This episode provides venue owners with practical tips on introducing bar packages, ensuring clients are well-informed, and handling common concerns with grace and confidence.

Setting the Stage for Successful Bar Management

Kinsey shares her approach to introducing bar services, emphasizing the importance of clear communication from the outset. Her strategy includes making bar package options transparent on the venue's website, ensuring potential clients are aware of the services before they even book a tour. This level of upfront transparency continues through the tour process and subsequent communications, reinforcing the venue's in-house bar policies and helping to set expectations early on. By embedding information about the bar in multiple places—such as the FAQ section, pricing page, and tour booking confirmation—Kinsey ensures that clients are never caught off guard by the venue's alcohol policies.

Personalized Communication and Firm Policies: The Key to Client Satisfaction

A standout part of the episode is a role-play segment where Lindsay pretends to be a 

bride with questions about the bar service. This engaging scenario showcases how Kinsey addresses typical client queries, from budget considerations to fears of running out of alcohol, in a manner that is both relatable and firm. Kinsey's method of relating the venue's liquor license to that of a standard bar helps demystify the process for couples, making it easier for them to understand and comply with the venue's policies. Throughout, Kinsey maintains a balance between adapting her communication style to match the client's personality and firmly upholding the venue's established bar policies.

Role-Playing for Confidence and Clarity

Both Kinsey and Lindsay advocate for the practice of role-playing complex conversations with team members to build confidence in delivering and upholding policies. This technique, borrowed from Kinsey's experience in real estate, is highlighted as an effective way to prepare for real-world interactions with clients. By practicing responses to potential questions or concerns, venue owners can ensure they convey their policies with the right mix of warmth, professionalism, and authority.

Clear communication, personalized client interactions, and the strategic use of role-play to master the art of conveying bar policies effectively, is a recipe for a successful in-house wedding venue bar. Good luck!

In this practical episode of The Venue Podcast, Kinsey Roberts and Lindsay Lucas tackle an often overlooked but critical aspect of running a wedding venue: the legal agreements necessary to protect your business. This isn't just about having a rental agreement; it's about ensuring your venue is covered from all angles. On today’s episode, we mention one of our favorite resources for legit legal templates for wedding venue owners, The Creative Law Shop. You can find The Creative Law Shop Here: https://www.shopcreativelaw.com/ USE CODE LINDSAYLUCAS FOR 10% OFF YOUR ORDER AT THE CREATIVE LAW SHOP

The Legal Foundation: From Operating Agreements to Privacy Policies

• The Core Seven: Lindsay breaks down the must-have contracts, which include an operating agreement (both single and multi-member), a venue rental agreement, a rescheduling agreement, an independent contractor agreement, a termination agreement, and surprisingly, a cancellation agreement. Each serves a unique purpose, from defining the operational backbone of your venue to setting clear terms for client engagements and staff relations.

• Digital and Operational Protections: Beyond the client-facing documents, Lindsay emphasizes the importance of having a privacy policy on your website, especially in the wake of GDPR regulations. This ensures that you're transparent about how you handle visitor data. Additionally, terms and conditions protect your website's content, safeguarding your intellectual property from unauthorized use.

Real-World Insights and Practical Applications

• Beyond the Basics: Kinsey and Lindsay don't just list these agreements; they dive into the nuances of why each is crucial, sharing personal anecdotes and lessons learned. For instance, Kinsey's story about finding her personal contact information on another venue's website underscores the importance of customizing legal templates to fit your specific business needs.

• Annual Reviews and Proactive Updates: One of the golden nuggets of advice is the practice of reviewing and updating your contracts annually. The dynamic nature of the wedding industry, coupled with the long booking cycles, means that staying legally current is not just recommended; it's essential for continued protection and peace of mind.