Wedding Venue Business Plan Template

Wedding Venue Business Plan

You’ve come to the right place to create your wedding venue business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their wedding venues.

Below is a template to help you create each section of your Wedding Venue business plan.


Executive Summary

Business Overview

LV Wedding Hall is a startup wedding venue located in Las Vegas, Nevada. The company is founded by Brittany Anderson, an event planner with over 15 years of experience planning and hosting special events, parties, and wedding receptions. Brittany has a bachelor’s degree in Hospitality Management from the University of Nevada and has been recognized by various organizations for her top notch event management expertise. Now that Brittany has established herself as a leader in the event planning industry, she is ready to open her own wedding venue.  Brittany plans on recruiting a team of highly qualified professionals to help manage the day to day complexities of running a wedding hall including marketing, budgeting, event planning, and scheduling. 

LV Wedding Hall will be an all-inclusive wedding and special event venue, handling everything from the food and decorations to the entertainment and logistics. LV Wedding Hall will make any wedding or special event even more special by removing the headaches involved in planning and working with each client on every detail big and small to ensure their special day is perfect. LV Wedding Hall will be the ultimate choice in Las Vegas for wedding receptions for the company’s focus on extraordinary service and attention to detail.  

 

Product Offering

The following are the services that LV Wedding Hall will provide:

  • Wedding and event planning
  • Design consultation and coordination
  • Catering services 
  • Booking of live entertainment
  • Photography and videography services
  • Rentals (decor, linens, sound system, etc.)
  • Event hosting and cleanup services

 

Customer Focus

LV Wedding Hall will target local Las Vegas residents and tourists who are looking for a hassle-free, all-inclusive wedding hall for their wedding reception or other special events such as birthday parties, anniversary parties, and corporate events. No event is too large or too small for LV Wedding Hall. 

 

Management Team

LV Wedding Hall will be owned and operated by Brittany Anderson, an event planner with over 15 years of experience in planning and hosting special events such as parties, ceremonies, and wedding receptions. Brittany has a bachelor’s degree in Hospitality Management from the University of Nevada and has been recognized by various organizations for her top notch event management expertise. Brittany is confident that her skills in communication, event management, and problem solving will help her successfully propel her new business forward to achieve a healthy profit. Brittany has recruited fellow University of Nevada graduate, Stephanie Smith to be the venue manager and run the day-to-day operations of the hall. 

Stephanie Smith has a bachelor’s degree in business and is an experienced venue coordinator.  Brittany relies strongly on Stephanie’s organizational skills and ability to supervise a large staff, coordinating people and logistics in a fast-paced environment. Stephanie has worked in the wedding venue industry for so long, she understands all aspects required in running a successful wedding hall. 

 

Success Factors

LV Wedding Hall will be able to achieve success by offering the following competitive advantages:

  • A friendly and knowledgeable staff available every step of the way to ensure all details big and small are handled with care. 
  • Comprehensive, all-inclusive services encompassing every aspect of the event from the food to the entertainment and more, making it easy for clients to have the entire event coordinated through just one company rather than having to go through several vendors. 
  • LV Wedding Hall offers the best pricing in town. With multiple packages and a la carte services to choose from, their pricing structure is the most cost effective compared to the competition.


Financial Highlights

LV Wedding Hall is seeking $500,000 in debt financing to launch its wedding venue business. The funding will be dedicated towards securing and renovating the hall and purchasing equipment. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and initial online marketing campaign. The breakout of the funding is below:

  • Wedding hall build-out: $100,000
  • Equipment, supplies, and materials:  $50,000
  • Three months of overhead expenses (payroll, rent, utilities):  $200,000
  • Marketing costs: $30,000
  • Working capital:  $20,000


The following graph below outlines the pro forma financial projections for LV Wedding Hall.

 

Company Overview

Who is LV Wedding Hall? 

LV Wedding Hall is a new wedding and special event venue located in Las Vegas, Nevada. The company is founded by Brittany Anderson, an experienced event planner with expertise in planning and hosting special events, parties, and wedding receptions. 

LV Wedding Hall will be an all-inclusive wedding and special event venue, handling everything from the food and decorations to the entertainment and logistics. LV Wedding Hall will make any wedding or special event even more special by removing the headaches involved in planning and working with each client on every detail big and small to ensure their special day is perfect. LV Wedding Hall will be the ultimate choice in Las Vegas for wedding receptions for the company’s focus on extraordinary service and attention to detail. 

LV Wedding Hall History

LV Wedding Hall is owned and operated by Brittany Anderson, an event planner with over 15 years of experience planning and hosting special events, parties, and wedding receptions. Brittany has a bachelor’s degree in Hospitality Management from the University of Nevada and has been recognized by various organizations for her top notch event management expertise.

Since incorporation, LV Wedding Hall has achieved the following milestones:

  • Registered LV Wedding Hall, LLC to transact business in the state of Nevada.
  • Has a contract in place for a two-year lease on a 5,000 square foot facility.
  • Reached out to numerous contacts to include vendors and suppliers to advise them on their upcoming wedding venue in order to start getting contracts. 
  • Began recruiting a staff of event coordinators, hosts, and kitchen staff to work at LV Wedding Hall.

 

LV Wedding Hall Services

The following will be the services LV Wedding Hall will provide:

  • Wedding and event planning
  • Design consultation and coordination
  • Catering services 
  • Booking of live entertainment
  • Photography and videography services
  • Rentals (decor, linens, sound system, etc.)
  • Event hosting and cleanup services

 

Industry Analysis

The wedding industry in the United States is an estimated $57B. There are approximately 330,000 wedding service providers in the United States, with over 900,000 employees. Worldwide, the wedding planning industry is booming and is expected to grow by 6% over the next six years. 

Industry trends include an increase in small customized receptions, outdoor ceremonies, and destination weddings. The industry is heavily saturated, especially in Las Vegas. For this reason, it’s important for industry operators to differentiate themselves from the competition by providing unique service offerings, locations, or better pricing. Additionally, industry operators that provide flexible and customized services have a competitive advantage over those who do not.  


Customer Analysis

Demographic Profile of Target Market

LV Wedding Hall will target local Las Vegas residents and tourists who are looking for a hassle-free, all-inclusive wedding hall for their wedding reception or other special events such as birthdays, anniversary parties, and corporate events. No event is too large or too small for LV Wedding Hall. 

The precise demographics for Las Vegas, Nevada are:

 TotalPercent
    Total population1,680,988100%
        Male838,67549.9%
        Female842,31350.1%
        20 to 24 years114,8726.8%
        25 to 34 years273,58816.3%
        35 to 44 years235,94614.0%
        45 to 54 years210,25612.5%
        55 to 59 years105,0576.2%
        60 to 64 years87,4845.2%
        65 to 74 years116,8787.0%
        75 to 84 years52,5243.1%

 

Customer Segmentation

LV Wedding Hall will primarily target the following customer profiles:

  • Local couples looking to get married in town
  • Tourists looking to get married in town
  • People looking for a unique place for their special event such as a birthday party, anniversary party, or corporate event


Competitive Analysis

Direct and Indirect Competitors

LV Wedding Hall will face competition from other companies with similar business profiles. A description of each competitor company is below.

Unique Weddings, LLC

Unique Weddings, LLC is a wedding reception hall located in Las Vegas. Unique Weddings provides wedding planning services, catering, and hosting services. Unique Weddings is able to provide a wide variety of services for their clients. Their list of services includes planning, decor and event consultation, catering, party rentals, and event hosting. 

Unique Weddings, LLC’s promise is to deliver a one of a kind reception hall for its clients so their special event is a memorable experience for all guests. Unique Weddings, LLC’s team of experienced wedding planning professionals assures all receptions run smoothly, freeing the clients to enjoy their special day. 

Desert Weddings, Inc. 

Desert Weddings, Inc. is a Las Vegas, Nevada-based wedding venue that provides outstanding wedding reception services for couples looking for a desert wedding. Desert Weddings, Inc. takes the hassel out of wedding planning. They provide comprehensive wedding planning and venue services including planning, decor, consultation, catering, and live entertainment. The ownership of Desert Weddings, Inc. are former event coordinators so they understand how an event should be planned, executed, and managed. Clients can depend on their unique wedding planning processes to ensure the whole event runs smoothly. Desert Weddings, Inc. takes the stress out of the planning process and are able to provide exceptional service every step of the way.

Taylor’s Weddings, LLC

Taylor’s Weddings, LLC is a trusted Las Vegas wedding hall that provides superior service to locals and tourists looking to get married in Las Vegas and the surrounding areas. They are able to provide a one-stop shop for couples looking for an all-inclusive wedding planner. Taylor’s Weddings, LLC eases the stress of clients who are overwhelmed by the hassles and complexities that come with planning a wedding. The venue’s pricing structure is simple and straightforward. Taylor’s Weddings, LLC offers three tiers for their services – the Silver Package (venue rental, minimum services included), the Gold Package (venue rental, essential services included), and the Platinum Package (venue rental and all services included).


Competitive Advantage

LV Wedding Hall will be able to offer the following advantages over their competition:

  • Friendly, knowledgeable, and highly qualified team of event coordinators who are ready to handle all details of the event no matter how large or small. 
  • Comprehensive menu of services that allows for clients to get everything they need for their event in one place rather than having to deal with multiple vendors. 
  • LV Wedding Hall offers the best pricing in town. With customizable packages and a la carte options, their pricing structure is the most cost effective compared to the competition.

 

Marketing Plan

Brand & Value Proposition

LV Wedding Hall will offer the unique value proposition to its clientele:

  • Highly-qualified team of skilled employees that is able to provide a comprehensive set of wedding venue services (planning, consultation, catering, hosting, live entertainment, etc.).
  • Unbeatable pricing to its clients – LV Wedding Hall’s customizable service offerings allows clients to choose the services that work best for them and their budget. 

 

Promotions Strategy 

The promotions strategy for LV Wedding Hall is as follows:

Word of Mouth/Referrals

Brittany Anderson has built up an extensive list of contacts over the years by providing exceptional service and expertise to her clients. Once Brittany advised them she was leaving her current position to open her own wedding venue business, they agreed to help spread the word of LV Wedding Hall.

Print Advertising

LV Wedding Hall will invest in professionally designed print ads to display in wedding magazines, local newspapers, and direct mailers. 

Industry Events – Expos and Conventions

LV Wedding Hall will attend industry events such as wedding and bridal expos and conventions around the county to build a solid network of industry contacts and promote the venue. 

Website

LV Wedding Hall will utilize an in-house marketing director to design and maintain their website. The website will be well organized, informative, and list all their services that LV Wedding Hall is able to provide. 

SEO Marketing

The marketing director will also manage LV Wedding Hall’s online presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Las Vegas wedding venue” or “wedding venue near me”, LV Wedding Hall will be listed at the top of the search results.

Social Media Marketing

The marketing director will create LV Wedding Hall’s social media accounts and maintain an active presence on various platforms such as Facebook, Instagram, YouTube, TikTok, and Twitter. 

 

Pricing

The pricing of LV Wedding Hall will be on par with competitors so customers feel they receive value when purchasing their services. 


Operations Plan

The following will be the operations plan for LV Wedding Hall.

Operation Functions:

  • Brittany Anderson will be the owner and president of the company. She will oversee all vendor and client relationships. Brittany has spent the past year recruiting the following staff:
  • Stephanie Smith – Venue Manager who will supervise the event coordinators, manage logistics, and schedule all staff. 
  • Mike Miller – Staff Accountant who will provide all client accounting, tax payments, and monthly financial reporting.
  • Sam Hernandez – Marketing Director who will provide all marketing campaigns and materials for LV Wedding Hall.
  • Mark Johnson – Head Chef who will provide all catering services for the venue.


Milestones:

LV Wedding Hall will have the following milestones complete in the next six months.

7/1/202X – Finalize contract to lease the wedding hall

7/15/202X – Finalize personnel and staff employment contracts for the LV Wedding Hall team

8/1/202X – Finalize contracts for vendors and suppliers

8/15/202X – Begin networking at industry events 

8/22/202X – Begin build out of LV Wedding Hall 

11/1/202X – LV Wedding Hall opens for business

 

Management Team

LV Wedding Hall will be owned and operated by Brittany Anderson, an event planner with over 15 years of experience in planning and hosting special events such as parties, ceremonies, and wedding receptions. Brittany has a bachelor’s degree in Hospitality Management from the University of Nevada and has been recognized by various organizations for her top notch event management expertise. Brittany is confident that her skills in communication, event management, and problem solving will help her successfully propel her new business forward to achieve a healthy profit. Brittany has recruited fellow University of Nevada graduate, Stephanie Smith to be the venue manager and run the day-to-day operations of the hall. 

Stephanie Smith has a bachelor’s degree in business and is an experienced venue coordinator.  Brittany relies strongly on Stephanie’s organizational skills and ability to supervise a large staff, coordinating people and logistics in a fast-paced environment. Stephanie has worked in the wedding venue industry for so long, she understands all aspects required in running a successful wedding hall. 


Financial Plan

Key Revenue & Costs

The revenue drivers for LV Wedding Hall are the fees they will charge to the clients for their services and fees charged to their clients for rentals (equipment, decor, sound system, etc.). LV Wedding Hall will provide customizable packages and a la carte services as well. 

The cost drivers will be the overhead costs required in order to staff a wedding venue. The expenses will be the payroll cost, rent, utilities, fees paid to suppliers, and marketing materials.

 

Funding Requirements and Use of Funds

LV Wedding Hall is seeking $500,000 in debt financing to launch its wedding venue business. The funding will be dedicated towards securing and renovating the hall and purchasing equipment. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and initial online marketing campaign. The breakout of the funding is below:

  • Wedding hall build-out: $100,000
  • Equipment, supplies, and materials:  $50,000
  • Three months of overhead expenses (payroll, rent, utilities):  $200,000
  • Marketing costs: $30,000
  • Working capital:  $20,000


Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of Events per Year: 12
  • Average Fees per Event: $20,000
  • Venue Lease per Year: $100,000

 

Financial Projections

Income Statement
  FY 1FY 2FY 3FY 4FY 5
Revenues
Total Revenues$360,000$793,728$875,006$964,606$1,063,382
Expenses & Costs
Cost of goods sold$64,800$142,871$157,501$173,629$191,409
Lease$50,000$51,250$52,531$53,845$55,191
Marketing$10,000$8,000$8,000$8,000$8,000
Salaries$157,015$214,030$235,968$247,766$260,155
Initial expenditure$10,000$0$0$0$0
Total Expenses & Costs$291,815$416,151$454,000$483,240$514,754
EBITDA$68,185 $377,577 $421,005 $481,366 $548,628
Depreciation$27,160$27,160 $27,160 $27,160 $27,160
EBIT$41,025 $350,417 $393,845$454,206$521,468
Interest$23,462$20,529 $17,596 $14,664 $11,731
PRETAX INCOME$17,563 $329,888 $376,249 $439,543 $509,737
Net Operating Loss$0$0$0$0$0
Use of Net Operating Loss$0$0$0$0$0
Taxable Income$17,563$329,888$376,249$439,543$509,737
Income Tax Expense$6,147$115,461$131,687$153,840$178,408
NET INCOME$11,416 $214,427 $244,562 $285,703 $331,329
Balance Sheet
  FY 1FY 2FY 3FY 4FY 5
ASSETS
Cash$154,257$348,760$573,195$838,550$1,149,286
Accounts receivable$0$0$0$0$0
Inventory$30,000$33,072$36,459$40,192$44,308
Total Current Assets$184,257$381,832$609,654$878,742$1,193,594
Fixed assets$180,950$180,950$180,950$180,950$180,950
Depreciation$27,160$54,320$81,480$108,640 $135,800
Net fixed assets$153,790 $126,630 $99,470 $72,310 $45,150
TOTAL ASSETS$338,047$508,462$709,124$951,052$1,238,744
LIABILITIES & EQUITY
Debt$315,831$270,713$225,594$180,475 $135,356
Accounts payable$10,800$11,906$13,125$14,469 $15,951
Total Liability$326,631 $282,618 $238,719 $194,944 $151,307
Share Capital$0$0$0$0$0
Retained earnings$11,416 $225,843 $470,405 $756,108$1,087,437
Total Equity$11,416$225,843$470,405$756,108$1,087,437
TOTAL LIABILITIES & EQUITY$338,047$508,462$709,124$951,052$1,238,744
Cash Flow Statement
  FY 1FY 2FY 3FY 4FY 5
CASH FLOW FROM OPERATIONS
Net Income (Loss)$11,416 $214,427 $244,562 $285,703$331,329
Change in working capital($19,200)($1,966)($2,167)($2,389)($2,634)
Depreciation$27,160 $27,160 $27,160 $27,160 $27,160
Net Cash Flow from Operations$19,376 $239,621 $269,554 $310,473 $355,855
CASH FLOW FROM INVESTMENTS
Investment($180,950)$0$0$0$0
Net Cash Flow from Investments($180,950)$0$0$0$0
CASH FLOW FROM FINANCING
Cash from equity$0$0$0$0$0
Cash from debt$315,831 ($45,119)($45,119)($45,119)($45,119)
Net Cash Flow from Financing$315,831 ($45,119)($45,119)($45,119)($45,119)
Net Cash Flow$154,257$194,502 $224,436 $265,355$310,736
Cash at Beginning of Period$0$154,257$348,760$573,195$838,550
Cash at End of Period$154,257$348,760$573,195$838,550$1,149,286

Wedding Venue Business Plan FAQs

A wedding venue business plan is a plan to start and/or grow your wedding venue business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your wedding venue business plan using our Wedding Venue Business Plan Template here.

There are a number of different kinds of wedding venues, some examples include: Banquet hall, Farm/Barn, and Loft/Modern Event Space.

Wedding venues are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

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