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-
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!
Just curious how u came up with your price. They seem very reasonable. Also, what made u decide not to do your own catering and coordinating as it seems there is profit in both?
Hello Jane, thank you for the questions. Our prices are comparable with those in our area that provide the same basics that we do. I have increased my price about every two years because I am adding more value in landscaping, photo areas, etc.
As far as catering goes we are not interested. There are many regulations, industrial kitchen, permits and frankly we do not have the time. We would have to hire more help, and then you get into more regulations. We have always just wanted to keep it small. Our venue is not year round either, that would be added expense for part time. We start mid May and go through the first weekend in October.
I do venue coordination. I do not have time to coordinate for the bride too. With more help, anything is possible. We have chosen to keep it simple, and trust me that is hard to do, lol! It all depends on your goals and plan as to what you will do. The possibilities are endless, but what is sustainable?
Blessings, Teri : )
Thanks for sharing! We are at the very beginning of our venture to create a wedding venue at our farm in Kentucky and it seems daunting! But we are getting married there ourselves in June and then want to share this gorgeous land with others. Fingers crossed!
Mary!
I am so excited for you. A farm in Kentucky, how awesome. : ) I totally understand the daunting part. You’ve got this Mary!!
Blessings, Teri : )
You’re information has been very beneficial , we are probably looking at building a venue in the Texas panhandle as weather is so unpredictable … I’m sure i will have more questions. Down the road !!!
Thanks ,
Lori!
Thank you for taking the time to share. I love questions because the answers usually help someone else too. You’ve already realized there will be unpredictable weather to deal with, now you can plan accordingly.
Press on Lori.
Sending encouragement, Teri : )
We are in the process of building a wedding venue on our family farm in Alabama. We already have a small venue that we rent for family gatherings, baby and bridal showers, parties, etc. My niece is getting married in November, thus the start of the venue that I have been wanting to do for years. Even though you think you have all your ideas in your head or on paper, seeing and reading other peoples ideas always is an added feature. I have enjoyed your shared information that I receive from your emails. Hope to soon get around to ordering your book. Thanks again for shred and valuable info.
Cynthia, I am so excited for you! It sounds like you have a very good start on adding a wedding venue to your property. The knowledge that you already have will be very helpful. Thank you for sharing.
Blessings, Teri : )
Hi Teri.
Thank you for sharing your story on how you got started. It is very helpful!
I wanted to ask if you built your Venue and if so approximately how many square foot was your Venue and how many people does it hold comfortably including the tables and chairs? Also Ima single retired female wanting to sell my home and purchase land to build a venue with a small apartment included for me to live full-time. In your opinion do you think this is possible? Please reply back.
Thank you
Tina D
Hello Tina,
I’m so glad you are getting excited for your wedding venue adventure. Those are excellent questions and I would love to address them. Have you purchased the eBook? After you have read through it I would love for you to schedule a time to work with me. One question leads to another and I just don’t have time to cover everything here. Anything is possible Tina! You must do your due diligence to decide if this is right for you.
Blessings, Teri 🙂
I bought your book and you mention the bridal suite size. you said it might be larger than others . we are getting ready to build an add on to our barn for bridal suite and bathrooms… what do you think is the minimum a bridal suite should be? thank you
Hello Linda!
Love your business name. 🙂 Our bridal room used to be a bedroom and it is approximately 12 x 20. It has a closet at one end and we made room for a makeup bar on one side. The bathroom is just around the corner, perfect set up. We have been very pleased with the size. However, bigger is better than to small. Brides bring in a lot of “stuff” for this very fun occasion.
Blessings,
Teri 🙂