How to choose the right location for an event venue?
The type of venue you decided to offer should be based upon the demographics of your community, how large each demographic is, what types of venues those demographics need, and how many venues already serve each demographic. These demographics could be based upon income, venue style preference, event types common for each demographic, necessary venue size, and more. Choosing your target demographic/audience should dictate the type of venue you offer and where it should be located.
How much should my event venue charge?
Much like the previous question, it will be very important to understand the demographics of the community your venue will be a part of. Once you've identified the target demographic your price should then be based upon their budget range and what will be necessary to afford the overhead for your venue. That combination will tell you what your venue and package prices should be.
What type of licenses and insurance are required for an event venue?
Event venues require a number of insurances and licenses in order to operate safely and legally. Insurance for a venue can include business property, business liability, business crime, guest property coverage, product liability, and liquor liability if your venue will serve alcohol to guests. Licenses can include a liquor license which allows the venue to sell liquor but open bars can be operated with liquor liability insurance. Other licenses include a fire marshal permit depending on the city and a health department permit if you plan to serve food.
Should my event venue have a full kitchen?
Venues that have a prep kitchen versus a catering kitchen can offer different levels of catering options. Catering kitchens are commercial kitchens that provide a place for caterers to warm up and serve food rather than needing to prepare from scratch. Catering kitchens make venues a better option than venues that have no kitchen space. If you have a private event space or room attached to a restaurant that can also be an attractive option for smaller events and parties having access to a full menu.
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