Opening a New Event Venue: 10 Best Practices to Know
Opening a new event venue is such an exciting business endeavor, especially as we see the return of social gatherings, corporate events, and weddings. If you are passionate about the event business and have found the perfect venue space to launch, you may be thinking about what comes next. We’ve got 10 next steps that’ll help you prepare for success.
1. Choose the right name
One of the most enjoyable parts of launching a new event venue is developing the name. Feel free to get creative and do your research. While brainstorming, keep in mind your target audience, ways to differentiate yourself from competitors, and ways to not limit your business to specific event types.
Once you’ve narrowed down your ideas, do a quick Internet search and see if the name is taken. Research into your new event venue name will help you make the final decision.
2. Create your online presence
The sooner you purchase your venue’s URL and create named accounts across social media platforms, the better. Don’t concern yourself initially about adding a significant amount of content. You can easily create a simple site by searching for free templates online. Popular options include Wix, WordPress, and Squarespace.
Next, go ahead and register for social media accounts on Facebook, Twitter, and Instagram. Once you start getting the space up and running, you can share a few behind-the-scenes photos to drum up some anticipation for your opening.
Consider listing your venue in a directory like EventUp, the leading global directory. You can easily add your new event venue information and be able to reach potential clients looking for event space.
3. Figure out your venue’s specs
Next, try to work on adding more information about your venue. People visiting your website will likely be interested in renting your space for an event. Consider event space amenities including flexible floor plans, outdoor space, bar setup, A/V equipment your space can support, and any other unique offerings. Then, share the information on your website and social media.
Be sure to include information about where your space is located, what the parking situation looks like, how many rooms are available to rent, how big they are, and how many guests they can accommodate. You can also throw in a couple of fun details about what makes your venue stand out from others in your area.
4. Get professional photos or take them yourself
It’s important for potential clients to be able to see and get a feel for your venue before they see it in person. High-quality photos of the interior and exterior are ideal. They will show your credibility and give people an idea of what your space offers.
Photos will show professionalism for your new event venue space. If there’s no way you can possibly budget for a pro session, research ways to help you take the best photos possible and take lots of shots.
5. Hire a stellar team for your new event venue
You don’t want to be scrambling to conduct interviews and post job listings after you’ve opened your doors. That’s why it’s so important to have a full, trained staff when you open.
Post your openings on job sites and on your venue’s social media pages. You can even hold open office hours and have people drop in with their resume and learn more about your new venture.
6. Start slowly with the expenses
You’ve likely made a big investment in your event space and you may not have much budget initially. It is very normal for a new event venue to wait a bit before investing in large items.
Start off slow and avoid unnecessary costs where you can. Depending on your vision, you could opt to lease equipment, glassware, linens, and more. You could also consider refurbished items, such as tables, seating, and even kitchen equipment, to keep costs down.
7. Price competitively
Offering competitive prices is a surefire way to get new customers to book with your new event venue. This is especially important in the beginning when you don’t yet have positive reviews to boost your reputation.
Research to see what other similar venues in your area are quoting for events. You can even offer a special introductory rate if clients book your venue early on.
8. Get the word out about your new event venue
Now that your space is ready, it’s time to market. Consider leveraging marketing options such as radio stations, newspapers, community websites, mailings, posters, and social media to attract positive word of mouth.
Consider how you will have potential clients contact you like using an online lead form. You can add a newsletter sign-up form on your website so that people can find out about upcoming offers. Including your venue in an online marketplace to increase exposure is also an option worth considering.
9. Ask for advice
No matter how prepared you feel, you’re probably going to hit a few challenges once you start hosting events. That’s why it’s great to connect with someone with years of event experience to get some tips and advice. Ask a seasoned event pro for coffee or schedule a quick phone call.
It’s a fast-paced industry, but by reaching out, you’re bound to find someone who can offer you valuable insight. Best-case scenario, you form a mentor-mentee relationship with this person, and you can continue to come to them for advice whenever you’re feeling stuck or need a little inspiration.
10. Stay involved in the community
Engaging in your community is one of the most beneficial things you can do as a new venue owner. Try attending networking events, hosting an open house in your space with local vendors, and having a presence at any trade shows and relevant industry events.
These opportunities can also mean valuable face time with other business owners as well as potential clients. Plus, showing support for your community can foster a great reputation in your area.
Get the right tools to manage your events
As you’re getting ready to open a new event venue, why not request a live tour of the Tripleseat platform to see if our event management software is right for you? Our features help drive more sales, impress customers, and grow your events business in a way that’s manageable and profitable. On top of all that, our dedicated support team is just a call or email away to help with any questions you may have. Schedule a Tripleseat demo to take a closer look at our event management features.