Creatives, property owners, and families all want to own and run an event space, and it seems like a great idea until you have to deal with pricing structures, timetables, and overflowing messages. Knowing how to manage an event venue is therefore essential to get the best from an event business. By following the right steps, you’d start turning prospects into clients and skyrocket your income. Here’s how to manage an event venue easily.
1. Tour the environment
Decide what your venue’s customers will be able to get out of your business before you start one. To get a good start, look at what your local rivals offer and how much they charge. It is possible to determine the appropriate rental prices for your event site depending on its size and location. Check out local zoning rules and permissions required to operate an event venue before starting.
In the event venue business sector, consider filling any large vacancies that may be there. Consider increasing your company’s profit margins by providing services and facilities that are in high demand at your event site. Catering, music, flowers, and a full bar may help your event location stand out from the competition.
As an incentive, some event planners may pay more to be able to book all of an event’s components simultaneously. Your event location should be able to accommodate a wide range of budgets, allowing you to cater to a variety of clients. Set up various services for large event bundles and create affordable solutions for smaller gatherings by grouping services together.
2. Be Honest
Transparency and reliability go hand in hand with effective communication. Often, event planners think that venue managers are willing to do anything for a sale, which is obviously not the case. Be honest with your customers and only sell them what is best for the venue and their needs. Ultimately, it’s up to you to decide whether your venue isn’t a good fit for your event.
In the end, lying about your location will only hurt your chances of getting repeat business and hurt your reputation. It’s crucial to be forthright and honest about what your place has to offer and any inaccuracies in the ad.
Ultimately, it’s all about being open and honest to build trust. Keep these two things in mind; you’ll likely get repeat business and positive feedback.
3. Organise Properly
The organisation is a critical component in nearly every field. However, being well-organised is an absolute must if you want to be a successful venue manager.
As a venue manager, you’ll benefit greatly from learning how to appropriately focus your time and organise your inquiries. Develop the procedures and strategies that are most effective for you. Review your goals regularly to make sure you’re on the right path. It’s a failsafe approach to ensure that you don’t overlook any smaller details when creating a to-do list.
You might also create a daily power hour in which you concentrate all of your energy on completing a specific to-do list with a deadline. Anything that works for you and your venue’s particular requirements.
Many tools are available for those who wish to monitor the tiniest details. You can maintain track of your to-do list by putting it online, which means that everyone can see exactly what has to be done at any given time.
Slack, Google Drives, and Skype, among others, are aiding teams as they make the move to a more digital era of organisation.
4. Be Accessible
Customers and potential customers are the lifeblood of a venue manager. You’ll be bombarded with inquiries at any given time as a business owner, and responding quickly is critical.
People’s expectations have skyrocketed in the digital age of rapid communication and the proliferation of social media platforms that allow for real-time conversations and reactions. Your guests should be able to reach you easily and quickly. Social media, instant messaging, and direct calls are excellent ways to communicate during event venue management.
Monitor your various channels frequently after they are up and running. Whether it’s an old-fashioned voicemail, an email that ended up in your spam bin, or a direct message on Twitter or Instagram, there’s something for everyone. Set up a system where you can keep track of all the many ways you operate and look for any possible inquiries there could be.
5. Always Have Good Venue Pictures
Always have fantastic images of the space, both furnished and unfurnished, as well as good floor plans and a video of the area, which may be really valuable for planners or customers who cannot view the space in reality before they reserve the venue! In addition to floor drawings showing how the space has previously been utilised, you should also provide blank layouts so that clients may imagine their unique vision for the event.
6. Use Standard Price Ranges
Always have your regular price and availability on hand, but also be prepared to be flexible when it comes to scheduling. Having some wiggle room in your negotiation strategy can help you get a better deal. Allow them to arrive early the day before, or allow them to stay a little later for a breakdown if you can’t afford to bargain on cost. Being adaptable is a good method to obtain the confidence of both the customer and the planners.
7. Join a community
Building a network of vendors working together is the greatest way to produce memorable events! For your venue to shine, you need to deal with the best suppliers possible and have a simple and quick method for working with vendors. They gain the most when a location embraces and supports the hard work of skilled and dedicated merchants.
Relationships with vendors are essential to a venue’s success and should be as authentic as possible. From now on, venues will recommend vendors that are simple to deal with and respectful of their space(s), as well as personnel and vendors who provide a vision that enriches both the venue and the client’s experience.
Conclusion
Becoming an event manager is an exciting business that entails organising and arranging venues for individuals and businesses. Knowing how to manage an event venue is essential to ensure this business’s success. Follow all the tips above, and you’re good to go.
