Catering shares that responsibility and will help you plan a perfect reception for you and your guests.
Share on Facebook Much of the success of a banquet hall follows the same rules as any other business. Maximize income while minimizing expenses.
Advertise in tightly focused areas.
Maintain a competent, honest and loyal staff. Charge a fair price for high quality. However, a few considerations specific to the rental facility business can make the difference between struggling and thriving in this competitive market.
You will attract more customers and get better reviews if you invest where necessary to make that experience perfect. High cleaning standards and regular maintenance are just two examples of this.
The better your banquet hall looks, the more it will sell itself. Winter events not scheduled around major holidays are worth less than those in June.
Schedule your pricing to reflect these facts. Fill Dead Space with Regular Customers Most banquet halls are empty in the mornings and in the middle of the week.
You can fill that time by offering your facility at a discounted price for regular meetings for local service clubs, the Chamber of Commerce or AA. Regular customers also cost less, as they demand fewer services and extras.
Offer In-House Catering In-house catering lets you charge a markup for each plate, snack and drink served. An in-house bar is a sure moneymaker for most events and is often the largest profit center for banquet and event facilities.
Offer Event Planning The people who come to you for an event will only have planned a handful in their lives. You likely handle that many every two weeks.
Sell that valuable experience by offering full event planning services along with the facility rental, or make the services a standard part of the contract. They can need music, furniture, decorations, flowers, transportation and even security.
Instead, make deals with local service providers where you get a percentage of the order in exchange for recommending them. Since all you have to do is hand over their business card, this is free profit with every recommendation.
How to Start an Event Planning Service About the Author Jake Wayne has written professionally for more than 12 years, including assignments in business writing, national magazines and book-length projects. He has a psychology degree from the University of Oregon and black belts in three martial arts.Read the latest edition of the City Manager's Bi-Weekly report.
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