The Venue Podcast: Recent Episodes
Kinsey Roberts and Lindsay Lucas
The Venue Podcast is a bi-weekly show airing new episodes every Monday and Wednesday.
The podcast is for future, current and experienced wedding & event venue owners who want to up their game in the industry.
TVP is co-hosted by Kinsey Roberts and Lindsay Lucas.
Connect with us on Instagram: @thevenuepodcast
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:
- Customized Welcome Gift Baskets featuring local treats, personalized notes, and a bottle of champagne.
- Personalized Stationery, useful for wedding planning notes or thank-you cards.
- Regional Wedding Magazine Subscriptions, providing inspiration and local vendor options.
- Spa Gift Certificates for relaxation during the stressful wedding planning process.
- Custom Sketch of Your Venue, a keepsake item for couples to cherish.
- Comprehensive Wedding Planning Books to assist in the organization and planning.
- Personalized Wedding Ornaments, a festive reminder of their special day.
- Monogrammed Items, offering a personal touch that celebrates the couple's union.
-
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.
Establishing Boundaries with Signage and Gates 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 Supporting Privacy 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.
Managing Expectations and Communications 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.
Planning for Future Scenarios 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.
A Common Inquiry Among Airbnb Owners 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.
Navigating Airbnb's Policy on Events 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.
Taking the Plunge: Investment and Commitment 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.
Leveraging Existing Success for Future Growth 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.
Embracing Phased Business Growth 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.
Learning from Kinsey’s Experience 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.
Deciding on Renovations 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.
Reflections on Prioritization and Regret 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.
In this episode of The Venue Podcast, hosts Kinsey Roberts and Lindsay Lucas unpack the intricacies of leasing a venue. With Kinsey's unique position of owning a venue business while leasing the physical space and Lindsay's extensive experience advising clients, they offer a well-rounded perspective on why leasing might just be the golden ticket for aspiring venue owners.
Leasing: A Stepping Stone to Ownership
- Flexibility and Financial Savvy: Kinsey and Lindsay discuss the benefits of leasing as a financial lower-risk entry into the venue business. For those who've faced financing hurdles or want to dip their toes in the industry waters without the commitment of purchasing land and buildings, leasing provides an invaluable opportunity. It allows you to build a track record, hone your business acumen, and potentially pave the way for that triumphant moment of securing your own space down the line.
The Nitty-Gritty: Pros, Cons, and Protections
- Pros of Leasing: The flexibility to test the venue business waters with less financial risk, the opportunity to build a proven track record, and the potential for a "Pretty Woman" moment with banks in the future.
- Cons and Considerations: Potential limitations on venue modifications and the need for clear, negotiated terms around upgrades and design changes. Kinsey highlights the importance of ensuring the lease agreement allows for the business's growth and operational needs, including insurance responsibilities and the lease term's length to match the booking cycle, ideally aiming for a minimum of five years to ensure stability and the ability to plan for the future.
Professionalism and Preparation: Keys to Success
- Kinsey and Lindsay stress the importance of approaching lease negotiations with a professional mindset, emphasizing that both parties stand to gain from a well-structured agreement. They advise preparing thoroughly, consulting with legal experts to draft a lease that protects your interests, and understanding the value you bring to the table. The conversation also touches on the significance of planning for an exit strategy, ensuring financial stability throughout the lease term, and the respect that comes with treating the venture with the seriousness it deserves—even when dealing with family-owned properties.
Leasing a venue can be an excellent strategy for entering the venue business with a solid foundation and lower initial financial risk. Kinsey and Lindsay's shared experiences and insights provide a valuable roadmap for navigating the complexities of leasing, emphasizing preparation, negotiation, and professionalism as the cornerstones of a successful venture. Whether you're facing challenges getting a full loan for building a venue from scratch or seeking experience before investing in your own property, this episode of The Venue Podcast offers practical advice and encouragement for the journey ahead.
Welcome back to The Venue Podcast, where your hosts, Kinsey Roberts and Lindsay Lucas, dive deep into the practicalities of launching an outdoor venue. This episode, Part Two, builds on our previous discussion, shifting from mindset to offering you hands-on advice to make your outdoor venue venture a reality. Whether you're considering a semi-permanent structure or dreaming big with a pavilion, this episode is packed with insights drawn from our extensive experience and interactions in the industry.
- Understanding Local Regulations: One of the first steps in your journey should be familiarizing yourself with local zoning laws and county codes. Kinsey and Lindsay share the importance of approaching these discussions with hypotheticals to keep your cards close to your chest during the early stages. It's about navigating the bureaucracy efficiently while planning for your venue, ensuring you're compliant without limiting your future options.
- Financing Your Vision: The financial landscape for outdoor venues, particularly those not considered permanent structures, can be complex. Lindsay, our finance guru, breaks down the nuances of securing loans, such as the SBA 504, and the recent changes in refinancing rules. It’s crucial to understand how these factors can impact your funding strategy and the importance of planning for financial sustainability from the get-go.
- Marketing Matters: Once you've cleared the hurdles of approval and are ready to start construction, it's time to ramp up your marketing. The strategy remains the same, irrespective of your venue type. Share your journey, host 'dusty boot tours,' and engage with your community. Early marketing efforts are key to booking clients quickly and building momentum for your outdoor venue.
Kinsey and Lindsay wrap up with a reminder to revisit Part One: Owning an Outdoor Venue for a holistic view of starting an outdoor venue and invite listeners to share their progress or questions on Instagram.
In this episode of The Venue Podcast, join hosts Kinsey Roberts and Lindsay Lucas as they dive into becoming a venue owner, through the approach of starting with an outdoor venue. Whether you're dreaming of hosting weddings, corporate retreats, or something else, Kinsey and Lindsay share invaluable insights on how to embark on this journey using forethought and market research.
- Starting Small is the New Big: Discover why beginning with minimal investments like a tent or an open-air pavilion not only saves on upfront costs but also opens the door to market testing and invaluable firsthand experience. This strategy allows aspiring venue owners to grow organically, ensuring that every step is sustainable and aligned with market demand.
- Profitability and Client Satisfaction: Learn from successful industry examples that prove outdoor venues aren't just a fad—they're a lucrative business model that appeals to high-end clients looking for unique experiences. However, the road to success isn't just about expansion; it's about mastering the art of profitability and client service within your current means. Kinsey and Lindsay stress the importance of resisting the urge for constant upgrades, instead advocating for a focus on filling a market need and excelling in customer satisfaction.
Tune in to gain a comprehensive understanding of how to start and thrive as a venue owner with an outdoor venue!
CLICK HERE TO GET INSTANT ACCESS TO OUR SOP DOWNLOAD In this episode of our podcast, Kinsey and Lindsay dive deep into Standard Operating Procedures (SOPs) for wedding venues, offering insights for venue owners looking to streamline and elevate their internal operations. We break down the concept of SOPs, explaining what they are and why they're crucial for a smooth-running venue. Through a series of detailed examples, listeners will gain a thorough understanding of various SOPs that can be implemented to cover everything from client consultations to the day-of event execution.
- Key Highlights:
- Defining SOPs: Kinsey and Lindsay define Standard Operating Procedures, why you need them, and their significance in maintaining high standards of operation within your wedding venue.
- Examples of SOPs: The hosts provide a range of SOP examples, covering diverse aspects of venue management and event coordination, offering listeners a comprehensive overview of potential areas for SOP implementation.
- Training and Accountability: A pivotal section of the episode is dedicated to effective strategies for training your team on these SOPs. Kinsey and Lindsay share their advice and experience on not just imparting knowledge but also ensuring that your team understands, embraces, and adheres to these procedures. The discussion extends to practical tips on holding your team accountable, ensuring that SOPs are not just read but executed by every member of your organization, thereby guaranteeing the seamless execution of every event and the satisfaction of every client.
This episode is packed with actionable advice so whether you're in the process of developing your venue's SOPs or looking to refine and enforce existing ones, you’re in the right place!
Attorney Kinsey used for her Trademarks: Paige Hulse Law Today on The Venue Podcast we're talking all things Trademarking your business. Kinsey recently completed the trademarking process for her venue, Vista View Events, and is sharing her insights into what she learned and giving you some info that can help you decide if Trademarking is a good next step for your own wedding venue! This episode includes a full Pros and Cons List for venue owners to utilize as they consider whether or not to trademark their venue business. Pros of Trademarking Your Wedding Venue Business:
- Brand Recognition: A trademark helps establish a unique identity for your wedding venue business in the market. It makes it easier for clients to identify your brand and up levels your venue amongst other wedding venues.
- Legal Protection: Trademarks legally safeguard your business name, logo, and other identifiers. This prevents others from using similar marks that could cause confusion among customers and dilute your brand's reputation.
- Market Exclusivity: Once your trademark is registered, you gain exclusivity of your mark(s) in connection with your goods and services within your geographic area. This can help you establish a strong market presence.
- Asset Value: A registered trademark can become a valuable business asset. It can enhance your business's value in case you decide to sell or expand in the future.
- Licensing Opportunities: Trademarks can be licensed to others, providing an additional revenue stream. You can license your trademark to other entities or people for use in related products or services.
- Credibility and Trust: A registered trademark can boost the credibility and trustworthiness of your business in the eyes of customers and partners. It shows that you are committed to protecting your brand identity.
Cons of Trademarking Your Wedding Venue Business:
- Costs: The process of registering a trademark involves fees, including application fees and legal costs if you choose to hire an attorney. Additionally, there are ongoing maintenance fees to keep the trademark active.
- Time-Consuming: Trademark registration can be a lengthy process, taking several months or even longer. This might delay your plans to use the trademark in marketing and branding.
- Complexity: The process of trademark registration can be complex, especially if you're not familiar with intellectual property law. It may require legal assistance, adding to the costs.
- No Guarantee of Approval: Not all trademark applications are approved. If your chosen mark is too similar to an existing trademark or doesn't meet other criteria, your application could be rejected.
- Geographic Limitations: Trademarks are typically registered within specific geographic areas. If you plan to expand your business internationally, you might need to register the trademark in multiple jurisdictions.
- Maintenance Obligations: Registered trademarks require ongoing maintenance, including periodic renewals and continued use of the mark in commerce. Failure to meet these obligations could result in the loss of the trademark.
- Public Disclosure: The trademark registration process involves public disclosure of your business name, logo, and other information. This could potentially expose your business to imitators.
Today on The Venue Podcast we’re sharing how you can work with one or both of us as a wedding venue owner.
As industry coaches, we each have a niche specialty that allows us to help you meet the unique challenges that come with being a wedding venue owner.
Lindsay, a Wedding Venue Consultant, shares the services she offers and who her ideal clients are to help you determine if she’d be a great fit for you!
And Kinsey, a Marketing Coach for Venue Owners, opens the curtain on her services and products so you can ascertain if she’d be an asset to your marketing team.
Are you considering transforming your old barn into a venue but worried about accommodating large parties with limited space? In our latest episode of The Venue Podcast, we've got you covered.
We address a listener's concerns and provide valuable insights on making the most of your charming yet cozy venue space. Some key takeaways from this episode:
-
Is It Worth It? The listener wonders if it's worth the effort and investment to convert her old barn into a wedding venue without the capacity for large gatherings. We discuss how smaller, more intimate venues can create a unique and sought-after experience. Often, couples are searching for intimate settings that allow for personalization and a close-knit atmosphere, and we explore how to leverage this niche market.
-
Unique Offerings for Your Local Market We emphasize the importance of tailoring your venue to your local market. By establishing the specific needs of your community and identifying what's missing, you can create unique offerings that set you apart from the competition. We share practical strategies for conducting market research and crafting offerings that resonate with your target audience.
-
Get Creative with Event Opportunities Even with limited space, there are countless opportunities to host various events beyond weddings. We encourage our listener to think creatively and explore options such as hosting small corporate retreats, family reunions, or workshops. By diversifying the types of events you host, you can maximize your venue's potential.
-
Highlight Your Unique Features Your venue's smaller features, such as an orange orchard and stunning mountain views, are assets that can be a unique selling point. We discuss how to showcase these elements to attract couples seeking a distinctive and picturesque backdrop for their special day.
In this episode, we debunk the myth that bigger is always better in the wedding venue industry. With thoughtful planning, creativity, and a focus on your venue's unique attributes, you can transform your old barn into a thriving venue business that caters to the desires of your local market. Join us on The Venue Podcast for more expert insights and tips on growing your wedding venue business!
In the latest episode of The Venue Podcast, we're diving into a timely and essential topic for all wedding venue owners: preparing for economic uncertainty without succumbing to the "doom and gloom" mindset. We understand that running a successful venue is no walk in the park, and in today's ever-changing economic landscape, being proactive is the key to weathering any financial storms. Join Kinsey and Lindsay for a conversation about preparing for economic uncertainty while keeping your venue business strong and vibrant. Remember, the key to success as a venue owner is staying enthusiastic and resilient, no matter what challenges come your way.
Cutting Expenses and Trimming the Fat (Business & Personal)
One of the first strategies we discuss is the importance of trimming unnecessary expenses, both in your business and personal life. By taking a hard look at your venue budget, you'll be able to see opportunities for cutting back without sacrificing quality.
Renegotiating with Vendors and Suppliers
In uncertain times, renegotiating contracts with vendors and suppliers can be a game-changer. We'll share tips and insights on how to have these conversations effectively, ensuring that you maintain good working relationships while also reducing costs.
Streamlining Operations and Building Emergency Savings
Streamlining your venue operations increases efficiency and helps you save for emergencies. We delve into practical ways to optimize your processes and bulk up your savings, creating a financial safety net for unexpected challenges.
Diversifying Revenue and Preparing for the Unexpected
While diversifying your revenue streams is crucial, we emphasize the importance of doing it wisely, without accumulating unnecessary debt. We also discuss broadening your client base while staying true to your brand identity.
Legal Preparedness and Marketing Creativity
Legal matters can be daunting, but we've got you covered with insights into protecting your business, including a link to the Creative Law Shop for guidance on crafting a solid cancellation policy. Additionally, we share success stories of venue owners who proactively secured lines of credit from their banks and how this saved their businesses during times of crisis. The Significance of Marketing & Creativity
Lastly, we emphasize the significance of staying creative in your marketing efforts, even when times are good. We'll remind you why complacency is your worst enemy and share tips on staying resilient and adaptable, ensuring your venue survives and thrives in an ever-changing economic landscape.
Are you a wedding venue owner looking to enhance your revenue without breaking the bank? Whether you're looking to capitalize on unused time slots, reduce expenses, or explore new revenue avenues, our latest episode of The Venue Podcast is packed with practical strategies for wedding venue owners eager to think creatively and put in the effort to boost their earnings. Tune in now to discover how these cost-effective ideas can transform your venue's financial outlook.
-
Extend the Celebration: One tactic we discuss in the episode is offering an additional hour to couples, but with a twist. Create a sense of urgency by setting a deadline for them to decide. This subtle but effective strategy can encourage couples to book that extra hour sooner, boosting your revenue without any significant upfront costs.
-
Cash is King: To avoid credit card processing fees, we suggest considering a cash-only or cashier's check payment policy. By implementing this strategy, you can save on transaction fees and keep more of your hard-earned money.
-
Digital Products: In today's digital age, there's a wealth of opportunities to create and sell digital products to your couples. We delve into various ideas, from customizable wedding planning guides to virtual venue tours. These digital offerings provide additional revenue streams and enhance the overall customer experience.
-
Micro Wedding Packages: Do you have weekdays or slow seasons when your venue remains underutilized? We discuss the concept of crafting micro-wedding or elopement packages that cater to smaller, more intimate gatherings. This fills in your off-peak times and appeals to couples seeking a unique and budget-friendly wedding experience.
In today's episode of The Venue Podcast, Kinsey and Lindsay dive deep into the world of decor and rentals and how they can be a game-changer for your business. Whether you're considering expanding your revenue stream and just starting with a small amount of inventory, or you're ready to optimize your current decor selection, we've got you covered with valuable insights and strategies.
Assessing Market Demand: To start, we explore whether incorporating a wide range of decor into your offerings is what your market truly needs and wants. Understanding your clientele's preferences and staying ahead of trends is essential for making informed decisions that align with your business goals.
Strategic Purchases: Discover how to make smart choices when deciding what to purchase. We discuss the latest trends and the foundation pieces that are essential for any wedding venue. Learn how to strike the perfect balance between timeless classics and trendy additions.
Quantity and Pricing: Determining the right quantity of decor items to stock can be a challenge. We provide a formula for calculating the optimal amount of decor you should have on hand, ensuring you're neither overstocked nor underprepared. Additionally, we delve into pricing strategies, helping you understand how to price each piece effectively, maximizing your return on investment.
Storage and Maintenance: Efficient storage is critical to managing your decor inventory. Get the 411 on storing your decor properly to maintain its quality and longevity. We share expert tips on organization and care to save you time and money in the long run.
Keeping it Fresh: Learn how to keep your decor catalog fresh and exciting for clients by regularly updating and refreshing your offerings.
Pricing Strategies: Explore the pros and cons of pricing items per piece versus including them in your overall rental package. BONUS TIP: We also introduce a creative approach, collaborating with key vendors like your top five wedding planners to rent out items during off-seasons, boosting your revenue and strengthening valuable partnerships.
In today's episode of The Venue Podcast, Kinsey and Lindsay share the WHY and the HOW of keeping your wedding venue business lean and scrappy! We dive into our personal (and very recent!) experiences with downsizing our businesses and the results we've seen from doing this! Here's a sneak peek of what we discuss in this episode:
- How Lindsay cut her team prior to summer and has taken over multiple duties previously outsourced/delegated.
- How she's enjoying being back in touch with those areas of her business
- How she's rethinking hiring for new positions that she's never had before but have always wanted
- Kinsey's key takeaways from also downsizing her team at the venue
- Tips for getting scrappy - what should you do before cutting your team
- Take over client files and be brought up to date with each file
- Remove access to accounts
- Make sure you let a team member go legally - review your rights
- Termination agreement - if necessary
We're celebrating 50 Episodes of The Venue Podcast TODAY!
In honor of this cute little milestone, we're doing something fun on the podcast and sharing FIFTY ideas for events you could host at your venue that are NOT weddings! We hope this episode gives you a ton of ideas and helps you think creatively about your space <3
Thank you for tuning in every week and supporting the show. We're here because of YOU, and we can't thank you enough! GET YOUR LIST OF 50 EVENTS TO HOST AT YOUR VENUE HERE
GET IN TOUCH WITH THE VENUE PODCAST: EMAIL US AT: thevenuepodcast@gmail.com
DM us on Instagram: https://www.instagram.com/thevenuepodcast/
Get ready to elevate your wedding venue game with ChatGPT! In today’s episode you’ll discover 5 easy-to-implement ways to create captivating content for your wedding venue without the blogging burnout! We’re sharing how to develop never-ending blog ideas, venue descriptions that dazzle, engaging social captions, authentic testimonials, and even educational courses for your couples! Tune in to today’s episode to learn how AI-powered magic can transform your venue into a content machine!
GET IN TOUCH WITH THE VENUE PODCAST: Email Lindsay: hello@thelindsaylucas.com Email Kinsey: kinsey@shecreatesbusinesspodcast.com
DM us on Instagram: https://www.instagram.com/thevenuepodcast/
If in-house day-of coordinators aren't your thing, Kinsey and Lindsay are discussing another option in today's episode. Lindsay gives her perspective and lessons learned from when she owned her wedding planning firm and was a contractor for local venues outsourcing their coordination.
Here are a few things being covered in this episode:
- How Lindsay landed a third party partnership with a venue as a planning company
-
Math is key. Don’t make the same mistake Kinsey did and overpay your DOCs while not charging enough for the venue rental.
- Don’t operate at a loss, especially with a cancellation
- Partnerships is an expense, you don’t have to train planners, less staff to manage
Stay tuned for the next episode where Kinsey shares her experience and perspective as a venue owner outsourcing day-of coordination for her couples.
GET IN TOUCH WITH THE VENUE PODCAST: Email Lindsay: hello@thelindsaylucas.com Email Kinsey: kinsey@shecreatesbusinesspodcast.com
DM us on Instagram: https://www.instagram.com/thevenuepodcast/
In this episode Kinsey and Lindsay are providing listeners with insight on the pros and cons of having in-house coordinators at your venue as well as digging into the details of having these employees. Lindsay also shares her experience as an in-house coordinator.
- Training in house employees, taxes, W2s, etc. - If you're interested in a training program for in-house wedding planners Kinsey highly recommends The Planner's Vault. You can find information about that program here: https://shecreatesbiz.krtra.com/t/uVgzmZx5AkZa (aff link)
- Training documents we recommend having your employees sign
- The importance of an NDA
- What is a Hold Harmless document and why is it important
-
Employee Training Overview:
- Company culture
- Upholding policies and procedures
- Huge commitment to implement training
- Trainings are a living document, constantly updating, adjustments and pivots
- Employees should never be surprised if they’re not doing well
- Employees need to know and feel confident that you have their back
-
Qualities to hire for
-
Pivot quickly and gracefully
- Service industry experience - waitress etc
- Self-led/self starter
- Planners vault link
- Linds experience of being an in-house coordinator
GET IN TOUCH WITH THE VENUE PODCAST: Email Lindsay: hello@thelindsaylucas.com Email Kinsey: kinsey@shecreatesbusinesspodcast.com
DM us on Instagram: https://www.instagram.com/thevenuepodcast/
In today's episode Kinsey and Lindsay are discussing the pros and cons of including a Day Of Coordinator at your venue in an effort to help you discern whether or not this is a good addition for your venue.
Questions we encourage you to ask yourself:
- Do you actually need this?
- Are you currently attracting your ideal client? If not, to do this first.
- What does your market need/want?
- What are your clients saying?
- Example: Kinsey’s clients LOVE it because the vast majority of venues are requiring a DOC nowadays. It’s nice to have one included and not have to worry about it.
GET IN TOUCH WITH THE VENUE PODCAST: Email Lindsay: hello@thelindsaylucas.com Email Kinsey: kinsey@shecreatesbusinesspodcast.com
DM us on Instagram: https://www.instagram.com/thevenuepodcast/
In today's episode of The Venue Podcast Lindsay and Kinsey quickly answer the top questions they've received from venue owners interested in adding on-site lodging. Tune in to hear our answers to:
Should my lodging be available to wedding clients only or should I put them on short-term rental websites like Airbnb?
Should I have my own direct booking option?
Sales Tax 101 for your lodging options.
Is it a good idea to charge cabin deposits and charging cleaning or damage fees if left in bad condition? What happens if a guest leaves my lodging a mess at checkout?
Insurance 101 for lodging.
GET IN TOUCH WITH THE VENUE PODCAST: Email Lindsay: hello@thelindsaylucas.com Email Kinsey: kinsey@shecreatesbusinesspodcast.com
DM us on Instagram: https://www.instagram.com/thevenuepodcast/
In today's episode of The Venue Podcast, Kinsey and Lindsay share eight accommodation types you can consider as a venue owner if you're ready to add overnight stays to your wedding packages. Then, we'll reveal the #1 MISTAKE VENUE OWNERS MAKE when adding onsite accommodations to their property. Types of Accommodations We Discuss Today: CabinsGlamping TentsYurts Exisiting House (remodel)New Build specifically for this purpose Treehouses Glass Houses Clear Top Tents/Yurts/Etc GET IN TOUCH WITH THE VENUE PODCAST: Email Lindsay: hello@thelindsaylucas.com Email Kinsey: kinsey@shecreatesbusinesspodcast.com
DM us on Instagram: https://www.instagram.com/thevenuepodcast/
We've chatted with many wedding venue owners who are interested in adding onsite accommodations to their venue property as an additional stream of revenue. If this is something you've also been considering, today's episode is for you! DISCLAIMER: This episode is not legal or financial advice. We're just sharing our stories and tips! Please consult your own legal and financial professionals before pursuing any loan. One of the first questions we often receive is: "I need an amount of upfront capital, can you give me an example of loan options you've seen?" In this episode Lindsay shares: Three loan types to consider when adding onsite accommodations to your wedding venue property.
-
Standard Commerical Loan
-
DSCR - Debt service coverage ratio Quick Tip: Based on the property’s income potential vs the purchaser’s credentials/credit - if approved lenders don’t require money down. Perfect for venue acquisition or/on-site accommodations.
-
Portfolio loan - lender keeps the loan in-house - doesn’t sell to another company. The benefit of small, local banks - may be more flexibility within the terms.
-
BRRR (Buy Rehab Refinance Repeat)
Today's episode of The Venue Podcast is a quick Listener Q & A from our friends at RedTreeHollow. The Question: Ok so this is my dilemma. I am trying to keep this venue at 3000 sq ft total. I have to have 15 sq ft per person in my ballroom according to the county. I don’t know what makes more sense, to have a 1800sq ft ballroom that can hold 120 people or a 1500 sq ft ballroom that can hold 100 people. We need 300 sq ft for the bathrooms. I would like to have a 500 sq ft bridal suite, 300 sq ft groom suite, and 400 sq ft warming kitchen. Something is going to have to give what makes the most sense to cut or reduce in size. Hit play on today's episode to hear our suggestions and tips when it comes to determining the correct square footage of your wedding venue! Want us to answer your question? DM us on Instagram HERE!
BOOK A BAR STRATEGY CALL WITH KINSEY In Episode 40 of The Venue Podcast, we share a list of potential expenses you may run into when obtaining your Liquor License at your wedding venue as well as one-time/yearly costs of running your In-House Bar. Here are some example expenses:
-
Adding/Building a dedicated bar space if you don’t already have one
-
Hiring and training bartenders and/or bar managers 3. The initial investment in alcohol inventory
-
Editing your current or creating a new contract with the help of your attorney that includes your new bar information
-
Sales Tax 6. Application Process through the City, County, and State 7. Attorney Fees to help you through the Application Process as well as to update your Venue Contract and add a Bar Package Contract
-
Yearly maintenance fees range per state but are typically a few hundred dollars each year.
-
Updating your business insurance to include liquor liability (Kinsey went from $6,000 per year to about $11,000 per year in insurance when she added a liquor license).
Book a Bar Strategy Call with Kinsey Here
Having an in-house bar/liquor license as a wedding venue owner can be a great way to provide your clients with a great customer experience and can be a lucrative option for your wedding business.
There are different ways to charge for a bar at your wedding venue, and your chosen method will depend on several factors.
Four In-House Bar Pricing Methods for Your Wedding Venue:
- Per person in a set alcohol package: This is a common way to charge for an in-house bar. This is a convenient option for couples who want to have a fixed budget for the bar and not worry about additional expenses.
- Per person/hourly: Another option is to charge per person per hour. Couples may like this option if they want to limit the time of the bar service. This method allows for flexibility in the budget, as the couple can choose the number of hours they want the bar to be open.
- Cash bar: A cash bar is a way to charge guests directly for the drinks they consume. This is a good option for couples who want to save on the overall cost of the wedding, as the guests are responsible for their own drinks. However, this option may be less popular with guests.
- Tally drinks and charge after the wedding: Lastly, you can tally the drinks consumed during the wedding and charge the couple after the wedding for the total drink tally managed by your bartenders. For couples who want to pay for the exact number of drinks consumed, this is a good option. That being said, this is Kinsey's least favorite option for charging as she doesn't like any financial surprises for couples following their wedding day. This option will require more paperwork and administration after the wedding.
GET IN TOUCH WITH US:
LINDSAY: HELLO@THELINDSAYLUCAS.COM
KINSEY: KINSEY@SHECREATESBUSINESSPODCAST.COM
SHOULD YOU ADD A LIQUOR LICENSE TO YOUR WEDDING VENUE? Today's episode on The Venue Podcast kicks off our Bar Series where we'll explore everything you need to know about bringing on this powerful, but responsibility-filled, additional revenue stream. In this episode, we discuss: - The forethought that should go into taking this step with your wedding venue. - How a Liquor License can be quite a lucrative option for your venue but a liquor license also carries a lot of responsibility and liability. - The increase in overall business expenses at your venue needs to be considered. - Think about how much time you currently have to dedicate to your wedding venue. Is this a full-time job for you? Is it a side hustle right now? Do you have the bandwidth to dedicate to successfully brining a liquor license in-house and managing it appropriately?
- Do you really need the money from a bar or is your current operation providing excellent income/profit margin with less responsibility/liability?
Reach out to Us: Lindsay: hello@thelindsaylucas.com Kinsey: kinsey@shecreatesbusinesspodcast.com
LINDSAY'S AMAZON STOREFRONT FOR VENUE OWNERS
How Kinsey preps personally and professionally for a busy wedding season as a venue owner: AT HER VENUE: Calculate consumable, non-perishable items and order all of those or put them on auto-order if you don’t have storage space. Examples of Items You Might Need for the Season: Trash bags, toilet paper, paper towels, soap, hand sanitizer, cleaning supplies, air filters, vacuum bags, emergency kit supplies, first aid supplies, bathroom/kitchen soap, Swiffer dusters, BAR: Disposable cups, Cocktail straws, cocktail napkins, mixers that have a long shelf life, bottled water.
AT HER HOUSE: HOME: Trash bags, laundry detergent, dishwasher tabs, paper towels, toilet paper, fabric softener, bleach, cleaning supplies, non-perishable snacks
CALENDAR: DUE DATE REMINDERS: Go into your calendar now and put due dates and reminders that you know of for the whole summer:
- All things school like start date, school supplies purchasing season
- Bar ordering deadlines or any other vendor deadlines
- Trips/Vacations
- Conferences
- Birthday & important dates
GET IN TOUCH WITH US:
LINDSAY: HELLO@THELINDSAYLUCAS.COM
KINSEY: KINSEY@SHECREATESBUSINESSPODCAST.COM
Wedding venues should diversify their revenue streams to maximize earning potential. Here are six additional revenue stream ideas for your wedding venue:
- In-house bar: Offering a bar service at your wedding venue can generate considerable revenue. This revenue option has many responsibilities and additional liabilities, which must be considered. There are numerous ways to run a successful bar; as mentioned, it can provide a massive return.
- Accommodations: Consider adding onsite lodging to your wedding venue. Onsite lodging can be anything from cabins and cottages to tiny homes and rooms for guests to stay overnight.
- Farm store: Consider opening a farm store if your wedding venue is rural or on a farm/ranch. Examples of things you can consider selling are retail goods, cottage products, anything that is small-batch, custom-branded gear, the list goes on.
- Wedding planning: Offering wedding planning services can be a great way to generate additional revenue. Most venues require, at minimum, that their couples hire Day of Coordination. Bringing this in-house is easy and effective at creating extra income, not to mention the benefits of marketing this inclusion.
- Decor rentals: Many couples seek unique decor to make their weddings stand out. You can offer decor rentals at your venue, including everything from centerpieces to lighting to furniture.
- High-ticket Events: You can host educational conferences and workshops at your venue. This can range from industry-specific conferences to personal development workshops. Events generate high ticket sales and add another revenue stream for your wedding venue.
Get in touch with us! On Instagram: @thevenuepodcast
Lindsay: hello@thelindsaylucas.com
Kinsey: kinsey@shecreatesbusinesspodcast.com
Starting a boutique within a wedding venue business where you sell a small but mighty selection of physical products can benefit you as a venue owner.
Here are three reasons we love the idea of a physical product shop utilizing the space you ALREADY own!
- Additional Revenue: By offering physical products such as wedding favors, decor, and accessories, wedding venue owners can increase their revenue potential beyond the rental fees.
- Enhanced Customer Experience: Offering physical products can improve the customer experience by providing additional options for couples to personalize their wedding day. From unique decor items to customized favors, offering a boutique can set your venue apart from competitors and increase customer satisfaction.
- Marketing Opportunities: A boutique can be a marketing tool for your wedding venue. You can attract potential customers and increase awareness of your wedding venue business by showcasing your products on social media and other marketing channels. Additionally, offering unique and high-quality products can help establish your business as a leader in the wedding industry.
We shared on the podcast that we'd link to some cute display options! Find them below: Option 1 Option 2 Option 3
Get in touch with us! On Instagram: @thevenuepodcast
Lindsay: hello@thelindsaylucas.com
Kinsey: kinsey@shecreatesbusinesspodcast.com
Owning a wedding venue is a highly competitive business. As a venue owner, an easy way to stand out from your competition is by offering a loss leader on your website.
A loss leader is a product or service sold at a lower price point to attract clients. At your wedding venue, the loss leader could be an add-on service, such as a discount on your in-house rental products, a free night's stay at your onsite accommodations, or, our favorite, a digital product that you create once and sell over and over again.
Even if a couple doesn't book your venue, they may still be interested in your loss leader product leading to additional sales and profits for your business. It's important to note that the loss leader should still be profitable, even if it's sold at a lower price point.
When deciding on a loss leader, choose a product or service that is still profitable and adds value to the wedding experience. DM us on Instagram @thevenuepodcast Contact Lindsay or Kinsey: hello@thelindsaylucas.com
kinsey@shecreatesbusinesspodcast.com
Mamie Hudson is the owner of Lazy S Hacienda and is a previous 1:1 client of Lindsay’s. Today Lindsay had the honor of interviewing Mamie and they reminisced on their time together and Mamie’s journey to becoming a venue owner. In this episode you’ll learn about
- Where and how Mamie got started with renovating an old barn into a stunning wedding venue
- How her family’s ranch became the most sought after wedding venue in the DFW area
- The challenges Mamie faced with funding and one thing she wished she didn’t stress over in the funding stage
- Mamie’s advice on having the courage to create something uniquely extraordinary
- What it’s been like for her flying solo after her work with Lindsay concluded
- Her current struggle as a venue owner
- Her tips for marketing a unique wedding venue in a saturated market
- The additional revenue streams she has and her advice on getting them started
- And much more
This episode is a rare glimpse into the life of a current wedding venue owner and what their day to day looks like running one of Texas’ most popular wedding venues.
In today's episode Lindsay is talking all about business coaches/consultants and answering some of your questions around this.
What is a coach vs consultant?
The 4 core values I look for in a coach/consultant.
How to find a coach/consultant.
What is an educational echo chamber?
What type of education should you be investing in for your venue?
What are the pros and cons of different types of education for your venue?
We're answering all of these questions and more in today's episode.
Is video marketing right for your wedding venue? My answer might surprise you!
Kinsey Roberts is flying solo on the podcast today to kick off her Video for Venues Series.
We’re going to ask ourselves some important questions today so we have a great foundation to work from as we dive deeper into the tactical “how to’s” of video marketing in this series.
In today’s episode of The Venue Podcast, we’re diving into each of our goal planning processes.
We both have different methods of planning out our yearly goals and keeping track of our progress and hope this helps you put your goals down in a way that works for you!
Last episode (episode 027), Kinsey and Lindsay shared what the last year or two looked like for them which set the foundation for where they're headed this. Tune in to this week's episode to hear all about their top three goals for 2022.
Welcome to 2022! Kinsey and Lindsay are excited to be back in your ears with fresh content this year! But first, they have some catching up to do with you. In this episode they get outside of their comfort zone and get a little vulnerable updating you on what's been going on behind the scenes.
In today's episode Kinsey and Lindsay discuss how to setup and manage a preferred vendors list at your venue. The episode covers the following topics about preferred vendors lists:
Why is it important to have a vendor list?
Different Types of lists: Preferred, Recommended, Required
How to manage your preferred vendor list.
Should you take money from vendors to be on your list? (Pros/Cons)
Discuss the vendor buyout of a preferred list.
How to respond to requests to be on your vendor list
How to develop a list as a brand new venue
When and how to properly blacklist a vendor
Today Kinsey and Lindsay are talking all about styled shoots and answering the following questions:
What is a style shoot?
How can a styled shoot be beneficial to your venue?
When is a styled shoot not beneficial to your venue?
How to handle requests for a Styled Shoot?
Putting a great follow up process in place at your venue should help you to increase your booking rate. In today's episode, Kinsey and Lindsay are giving you more tips and tricks on the structure of a great follow up process so you can cherry pick what will work at your venue.
In this episode Kinsey and Lindsay discuss tips and tricks for the inquiry and tour follow up processes. Here's what is covered in this episode:
When does the follow up process start?
How quickly should you follow up with an inquiry or tour?
Example follow up processes.
The #1 thing venues are not doing that could be hurting their booking rate.
In today's episode we're showing you how to review, edit and improve your client experience as well as your pricing strategy. As usual we're debunking a couple myths for you and giving you our two cents on why it's important to do this type of business audit regularly. We aren't just giving you the why, we're also giving you the steps as to how we conduct this audit in our own businesses.
Links + Resources:
The Business Audit Template
10% off Discount Code: THEVENUEPODCAST
A thoughtful email funnel can be an easy and effective way to warm up cold leads that find themselves on your wedding venue website.
In today's episode, we share a high-converting but easy-to-set-up email funnel that you can add TODAY.
Additional Resources for Venue Owners: https://linktr.ee/thevenuepodcast
Tune into today's episode of The Venue Podcast where we share 4 Marketing Mistakes your Venue Could be Making.
Then, we discuss how to avoid these mistakes and what to do instead!
Contact Lindsay: hello@thelindsaylucas.com
Contact Kinsey: team@shecreatesbusinesspodcast.com
If you need help marketing your wedding venue business the WED Content 365 Bundle is for you. Formerly known as the "She Creates Content Calendar," this 3.0 version has been updated and combined with additional material to kick up your marketing 10x.
In today's episode, we're back with Part Two of our conversation about why your venue needs a content marketing plan.
Here's the scoop:
What kind of content can you create to help them create the experience they want?
- We know where clients are coming from and what content we’re creating but what do I do with the content? Where does it go? REPURPOSE YOUR CONTENT THROUGHOUT THE WEEK
What is pillar content?
How do you repurpose pillar content? Give a blog post example.
“Feed the beast” - keep viewers on social, serve them in the way they want to ingest content
- Don’t create content for content’s sake
Email list - argument: my client has a defined life cycle
Lead magnets
Content upgrades
Link in bio
Content Marketing Plans for Wedding Venues
Click Here to Access the Content Calendar
Notes for this episode:
-
Review analytics - where are clients coming from? Focus on the streams producing revenue.
How to find your numbers
Google analytics
Website analytics
Online scheduler - how did you find us?
Focus on top 2-3 referral streams -
Creating content to serve your clients
What kind of content will move potential clients to want to work with you?
What kind of content can you create to help them create the experience they want?
- We know where clients are coming from and what content we’re creating but what do I do with the content? Where does it go? REPURPOSE YOUR CONTENT THROUGHOUT THE WEEK
What is pillar content?
How do you repurpose pillar content? Give blog post example.
“Feed the beast” - keep viewers on social, serve them in the way they want to ingest content
- Don’t create content for content’s sake
Email list - argument: my client has a defined life cycle
Lead magnets
Content upgrades
Link in bio
Kinsey's COVID-19 Resource Guide
Venue COVID-19 Impact Best Practices Webinar
Lindsay's COVID-19 Resources for Venues
What is a newsletter?
Best time in business to use a newsletter?
Is it only best utilized as a new venue to get the word out on updates?
New Venue in the building process: build your list to keep vendors, locals, potential couples, interested parties updated on the venue process. Bring them along the journey. Give your list insider access to updates and make it clear that you do that!
New Venue: use this list when it’s time to open for your Grand Opening party! The bigger the turnout, the better.
Existing Venue: Filter out your booked couples on email blasts (we’ll explain why in the next point)
Existing Venue: use your email list to educate, entertain and inspire potential couples.
Newsletter vs creating a workflow within your CRM - when to best utilize each.
Top email marketing software:
Mailchimp - beginner
Active Campaign - mid-level
Convertkit - a seasoned expert that needs more support for a growing list
Newbie: Flodesk - still experimenting
- P&Ps have a tendency to grow
- Strict P&Ps can be intimidating to enforce but necessary
- Soften the blow with a couple-friendly version
-
- Policy Example: HEATING VENTILATION & AIR CONDITIONING (HVAC)
- Contract Verbiage: If two or more barn doors are requested to be left open or remain open for an extended period of time The Best Venue Ever has the right to turn off their HVAC system at their discretion.
- Couple-friendly Verbiage: One of the things our couples love most about The Best Venue Ever is our wide-open spaces and beautiful views. We couldn’t agree more! If you’re blessed with perfect weather and wish to have the barn doors open to enjoy the views and fresh air even more then please reach out to TBVE and inquire about how to best facilitate this. We want to do everything we can to make your day perfect while also being gentle with our AC system.
- When/how should each version be delivered?
-
- Couple friendly PDF - given during pre-booking phase - hidden brochure on the website with a link to bride friendly P&Ps, hard copy during tours, and during the onboarding process inside bride guide or welcome magazine
- Regular P&Ps - built into the contract or at least as an addendum to the contract, you could require signature or initials on these. Also, use your final walkthrough as a time to remind couples about P & Ps.
Resources Mentioned:
Annie McCarty - https://www.anniemccarty.com/
Today on The Venue Podcast we're sharing Part Two of our training on hiring at your wedding and event venue.
We take you step by step through the differences between a Venue Manager and an In-House Coordinator and the traits you should look for when it comes to each of those hires.
We also share ideas on the "Job Description" for each role at your venue to help you understand what each position can be responsible for and how they can impact your business.
Today on The Venue Podcast we're sharing Part One of our training on hiring at your wedding and event venue.
We take you step by step through the differences between a Venue Manager and an In-House Coordinator and the traits you should look for when it comes to each of those hires.
We also share ideas on the "Job Description" for each role at your venue to help you understand what each position can be responsible for and how they can impact your business.
FREE DOWNLOAD: 50 Events You Can Host at Your Venue that Are Not Weddings
How to Get More Clients at Your Wedding and Event Venue.
Here's what we'll discuss in Part Two of this episode:
Aligning with other vendor partners to create something new
All-inclusive package
Is this viable in your market?
have couples expressed interest?
Create local workshops or experiences at your venue for potential couples
Only host workshops that speak to your brand
Expand your offerings to bring in different clients, if it makes sense to your business model **ONLY expand if you’re ready - this is NOT an answer to money problems
Corporate meetings/retreats
Municipal events
City events
Schools
Date nights
Can you host industry events?
In-person networking
Activity of intentional networking - local industry events - are they working?
Set goals for each event
Good goals for introverts at in-person networking
Gatherer of people - if you’re the connector it makes you more memorable
Directories
Large and small
Regional
Get very serious and understand where your ideal clients are hanging out and go to them.
Entrepreneur meetups
Local creative groups
Create a local class on something you’re good at
Get outside of our industry to find your ideal clients - get creative!
FREE DOWNLOAD: 50 Events You Can Host at Your Venue that Are Not Weddings
How to Get More Clients at Your Wedding and Event Venue.
Here's what we'll discuss in Part One of this episode:
Working your network - vendor partners, past couples, friends/family
Do people know what you do and do they know who to refer to you?
No shame in asking for referrals
Healthy and consistent content marketing strategy
Are we creating content that actually serves couples?
No - Create content around your post that will serve the next bride. Don’t just post pretty photos but partner them with helpful content.
Paid advertising
Google
Facebook
Pinterest
Instagram
Linked in
Should wedding venues require their couples to obtain Special Event Insurance for their big day?
We weigh the pros and cons on today's episode of The Venue Podcast!
Mentioned in this episode:
- Event Helper link
- Event helper’s partner program link
The Knot article link: Wedding insurance 101 (to help educate couples on the importance of event insurance)
Article on Event Insurance on Kinsey's venue blog
The Pros and Cons of Accepting Card Payments at Your Wedding Venue
PROS:
Fast way to get payment
Universally recognized form of payment (Kinsey tells her couples it’s like buying something on Amazon...everyone understands this).
Minimizes late payments considerably (If you have Honeybook, you can set up automatic withdrawals. In Dubsado, you can send automated payment reminders
Minimize administrative tasks (waiting for checks to arrive, going to the bank to deposit or mobile deposits, don’t have to file paper checks away, hoping the check clears, following up if it doesn’t, etc.)
Easier to project cash flow each month
CONS:
Clients can perform “Chargebacks” on their cards which is them “stopping payment” and being refunded what they paid you. This isn’t common but can totally happen. It’s the exception, not the rule.
Processing Fees: cost of doing business in the 21st century folks, build credit card fees into your revenue plan! Make it easy for people to pay you. Kinsey paid $3,400 in credit card fees in 2019
Profit First by Mike Michalowicz
In today's episode, we're diving into Part Two of Wedding Venue Contract Sample, A Walkthrough of Kinsey's Exact Rental Contract.
As venue owners, our contracts are essential to protecting ourselves, our clients and our businesses.
Kinsey is pulling back the curtain on her own contract in an effort to shed some light on what she includes, how her clients sign their contracts and the purpose of each section within her wedding venue contract.
Get in touch with us:
thevenuepodcast@gmail.com
@thevenuepodcast
Welcome to The Venue Podcast and thank you so much for tuning in!
Today, we have a wedding venue contract example to share with you. Kinsey is taking you step by step through the wedding venue contract she uses at her wedding venue in Colorado.
Here are the Venue Contract Clauses we discuss in Part One:
General Information (wedding date, client name, the venue address, business name, etc.)
Section One: Wedding Date, Times of Permitted Use, Ceremony Start Time Rules, Climate Control Clause
Section Two: Kinsey's venue's important rules such as last call, last song times, allotted hours for decorating, when decor has to be completed, only approved vendors onsite until 1 hour prior to the ceremony (aside from getting ready suites), when we get final guest count, etc.
Section Three: An explanation of our Day of Coordination Services that are included in their rental fee
Section Four: Communication Clause (how, when and where clients can communicate with us)
Section 5: Venue Rental Fee and Payment Schedule including amounts and due dates
Section 6: Damage and Infraction Deposit Amount and Explanation
Connect with Us:
@thevenuepodcast
kinsey@shecreatesbusinesspodcast.com
hello@thelindsaylucas.com
We're back with Part 2 of How to Prepare Your Wedding Venue for Engagement Season!
Here's what you'll find in this episode:
Refresh online presence:
Web - Click Here for a Google Analytics Explanation and Walkthrough
Social
Advertising audit:
- What is your budget for advertising this year?
- Directories
- Which ones are performing?
- Which ones are not converting?
- Can you leave or decrease your account?
- If performing well can you upgrade
- Do you want to add directories to your portfolio (i.e. regional/more local directories)
Print:
Does your print ad need to be recreated with fresh copy/images
When will it renew?
Recreate and submit ahead of time
Online:
Google business listing - confirm all details are accurate
Can you hire a google photographer/videographer to do a 3D tour to appear on google listing
Add photos
Video
Reviews Request:
If you haven’t requested reviews recently go back to brides within the last 12 months and send an email template.
Request google reviews first, paid platform reviews second
Click Here for a Review Request Template
Social:
Updated profile and cover photo or video
Update About section - contact info, hrs, location
Content
FB autoresponder setup
Bio updated
Profile photo
Content
Pinterest Resources:
Simple Pin Podcast
Vanessa Kynes
Update profile photo, description, claim your website - is your profile a business account?
Board audit - clean what isn’t relevant
Best of Your Venue Name and where you’re located
In Part One of today's podcast episode we're walking you through some of the first steps you need to take to prepare your wedding venue for a successful engagement season and subsequently, the booking season that immediately follows.
Financially speaking, these two "seasons" are the most important to wedding venues so it's imperative you follow the steps in today's episode (and in Part 2, episode 007) so you can set yourself up for success.
Resources Mentioned in Today's Episode:
She Creates Content Calendar
Dubsado
Gmail Autoresponder
Here's What We Discuss Today:
- Autoresponder
- Review survey results - this will inform you what you need to focus on as a business
- Contract audit
- Policies & Procedure audit - being clear is being kind
- CRM refresh
- Onboarding
- Booked bride workflow
- Archive files - create white space!!
-
- Upload updated paperwork
- Questionnaire refresh - added info to gather from clients
- How can you streamline your workflows more
- Complete offboarding!
In today's episode, we mention Lindsay's course, Funding 101. This course will help you walk into Investment Meetings confident and Prepared.
5 Video Lessons in the Course Walk you Through:
- Running a Market Analysis
- Writing a Business Plan
- Showing up prepared to request funding
- What to do once you’ve received funding
- Pricing Yourself for Profit
Learn more about Funding 101 Here!
Onto Today's Episode!
We're Discussing These Five Funding Options Today:
-
Lease to own options - leasing an existing building that may need little to no renovation, talk about the 2-year lease (why this is a good idea), seek out spaces that already have a commercial designation.
-
Owner finance options - find an existing venue that’s profitable to see if they may be in the market to sell, use your current network to gather information (don’t just knock on someone’s door and ask if they want to sell),
-
Loans from banks - if you don’t have 20% to put down towards the requested loan amount you’ll need some sort of collateral
-
Loans from investors - payback percentage and terms will depend on your investor.
For both bank and private investors - they’ll need building capital as well as operating capital
- Find a partner or multiple partners - this can look like family, friends, silent partner, vendors in the industry.
Connect with Kinsey and Lindsay:
thevenuepodcast@gmail.com
@thevenuepodcast
Thank you for listening to another episode of The Venue Podcast. This episode is all about contracts and agreements for venues. You’ll hear me reference my lawyer, Paige Hulse, quite a bit throughout.
Paige’s contracts are what I use to protect all of my businesses as well as my clients’ businesses. Paige has an online template shop which is where you can purchase any or all of the contracts we mention in today’s episode.
Just go to www.shopcreativelaw.com and you can use code Lindsaylucas10 at check out for 10% off your purchase.
5 Legal Agreements:
The Multi-Member LLC Operating Agreement or the Single-Member LLC Operating Agreement - if you haven’t set up your business structure yet you’ll need to choose one of these, not both. If your company will have multiple members then choose the Multi-Member LLC Operating Agreement.
Please note this is highlighted in yellow but is only required if you have NOT set up your business structure yet and if your business will be structured as an LLC. If you’d like to learn more about operating agreements go here.
Privacy Policy - if your website has or will have a contact form where you collect visitor information such as name, contact information or email address then this is required by law to be linked on your website. A good place for your privacy policy is linked in the footer of your website.
Terms and Conditions - this is not legally required but I highly recommend having this contract linked in the footer of your website as well because it governs how visitors are allowed to use content from your site if at all. In other words, it helps to protect you from copycats. If you’d like to learn more I encourage you to read this blog post.
Termination Agreement - Unfortunately, there may come a time when you may need to let a team member go and this agreement covers things such as settlement fees and protects you from potential slander.
Independent Contractor Agreement - most venues' first hire will be classified as an independent contractor in which case you’ll need to have them sign this agreement.
Grab our Wedding Venue Business Plan Template that has helped secure $11.4M in funding for venue owners.
The List of 13 Things to Add to Your Venue Building Process that Vendors will Thank You For:
- Vendor room
- Storage area for gear
- Adequate power
- Natural light
- Hospitable loading/unloading area
- Photogenic space to display bouquets
- Open cooler
- Accessible kitchen drain
- Ice machine
- Bridal suite perks
- Reserved parking spot for the media team
- Ceremony space perks
- Covered area for DJ on the outdoor ceremony
Grab our Wedding Venue Business Plan Template that has helped secure $11.4M in funding for venue owners.
Are you the Right Type of Investor for your Venue Business?
The Outline for Today's Episode:
Two types of venue investors/owners - legacy and business
Is one better than the other?
Both types should enter into the business with the intent to sell
Give examples of decisions that need to be made that are influenced by the type of investor you decide to be.
Wrap up:
Every venue owner is an investor
Legacy vs business investor - there is no right or wrong decision
Legally and financially set your business up correctly so that you’re maximizing tax breaks - hire a tax accountant if needed
Welcome to The Venue Podcast, we're thrilled you're here!
The Venue Podcast is co-hosted by Kinsey Roberts and Lindsay Lucas.
Kinsey is a wedding venue owner in Colorado and host of the long-running podcast, She Creates Business a Podcast for Wedding Pros.
Lindsay is a former wedding planner turned national venue consultant with almost 10 years of experience in the industry.
In this episode, we share a bit more about ourselves and what you can expect from the podcast.
New TVP Episodes will air: Every Monday & Wednesday
Connect with us:
@thevenuepodcast
www.thelindsaylucas.com
www.shecreatesbusinesspodcast.com