When finances are stretched to the max something must give. We were feeling trapped and living on a financial slippery slope. When the washer or other appliance would decide to quit, out came the credit, again. Could a wedding venue business be the answer?
Selling our house, which we had worked so hard on, was always at the top of the list for getting relief. My husband was in full panic mode and I knew we had to think of something quick. I wanted to work from home so I could be with my children. What was the answer? What were we going to do?
Our wedding venue business was started because our finances were in the tank! My husband works a full time corporate job that is stagnant in the salary department; and I was at home raising our 4 children.
The truth is, we had bought beautiful property, built a big house on it, and the house payment was just too much. In desperation we sat down and discussed what we could do to bring in some extra income.
This wedding venue business came to me in a dream, for some reason this is where I get a lot of my ideas, that, and while I am vacuuming! During discussion we realized it would take a lot of work to get this venue idea off the ground. I thought 3 years would give us enough time to get things perfected before we started to advertise.
My husband on the other hand said we have to do it now; we don’t have an option to wait! I do not like feeling rushed and probably overthink things, my husband on the other hand, just does it and fixes it later. Obviously, unresolved issues needed to be addressed before anything was set in motion.
Sitting down and coming up with a plan made us both feel enthusiastic about the whole idea. Looking back on those days the decision to go for it was the right choice! We buckled down and worked together like clockwork, it was an exciting time. It was hard work, real hard, but it was so gratifying.
The steps we took to start our business I would not suggest for others. We have learned over the years that you don’t need to have everything before you start.
In the Beginning-
Our beginning was about 7 years ago so I’m going to share from what I remember happened. While we didn’t have “everything”, we did purchase the tables, chairs, linens and left funds for a covered area. We were able to do this because we decided to refinance our house. Refinancing gave us a lower home interest rate and we were able to pull out some equity at the same time. This gave us some funds to work with.
Working in the Yard-
Both of us love to be outside working in the flower or vegetable garden, why not share our beautiful yard with others? This brought up more thoughts. We would be able to put in a sprinkler system, add more plants, arbors and pergolas. These would all be deductions for the venue. Then you really start thinking. Lawn gas and fertilizer would be a deduction too. So while we are making money we would be able to work on landscaping and finishing the yard up. We were just getting by so taking care of our beautiful property had become a burden.
Access that Creative Side-
My husband Les and I enjoy making things as well. We needed benches, pergolas made, swings made, seating areas designed. We also needed lights everywhere. There would be a hand wash station to make and a cottage to house the groomsman. The décor options are limitless and making them yourself saves you money – most of the time, lol.
Children Learn a Work Ethic-
Our children could earn an income helping at the venue. What a great way to teach good work ethics! Now they are out in the workforce. Employers and co-workers tell me personally what great kids they are by the performance and genuine interest that they witness.
We are now working toward paying off our house mortgage. The venue was started to make extra income. However, many other unexpected things have transpired. The how and why may be different for you but I guarantee it will be an exciting business adventure if… you decide to, Start and Run a Wedding Venue – In Your Own Backyard!