The Event Pro’s Guide to Running an Event Venue Business

Bookings, timelines, staff, loading schedules… Just a few of the many details you need to manage for your event venue business. Clearly, running a successful event venue is no small feat. But it doesn’t have to be overwhelming. 

So how do you stay on top of the never-ending to-do lists and collaborate with new vendors every day — while keeping your clients 100% happy? By putting systems in place to handle the logistics and communication.

Check out 5 tips from the pros about how to run a venue business. Follow this advice to boost referrals and bookings:

• Tip 1: Keep your event venue business organized
• Tip 2: Know the risks of running a venue business
• Tip 3: Be your vendors’ favorite event venue
• Tip 4: Support the staff that keep your venue running
• Tip 5: Treat clients and potential clients well
• Make running a venue business easier
• More questions about how to run an event venue?

Tip 1: Keep your event venue business organized

How often do you have nightmares about double-booking an event space? Or guests arriving before a space is set up? Or dozens of employees walking around, unsure of where to go? These problems can all be avoided with the right systems in place.
At the very least, you can prevent double-bookings with a venue booking system that cross-checks proposals with your event calendar. Or take it a step further and use a venue management software platform that lets you do it all: 

• Create, edit, and share event timelines
• Automatically share information with vendors 
• Schedule employees to specific tasks and activities
• Manage the loading process so set-up happens on time
• Keep event pros on the same page when things change

These aspects of venue management can easily slip through the cracks. Taking care of them all on one collaborative system will make running your event venue business that much easier. More importantly, it will impress planners. 

Event planners love working with organized venues. And since they’re the gatekeepers of the event world, you want to get on their good side. A planner’s kind words about your venue carry far and wide. They could be the source of hundreds of referrals to come.

Tip 2: Know the risks of running a venue business

There’s inherent risk involved with running a business, but even more so when you’re running a venue business. Your venue serves hundreds of guests (if not more) on a daily basis. You might serve them alcohol. With that pairing, you can almost count on property damage and injuries to happen.
At the same time, the clients and vendors you work with are all real people with real lives. They’re subject to:

• Illness
• Traffic
• Injuries
• Family matters
• And more

… that can result in last-minute cancellations or delays. 

Understand the risks and have a solid insurance policy to handle them. Know what your insurance covers and what it doesn’t. 

And stay on top of stipulations. Your insurance may require specific coverage from specific types of vendors — alert your vendors early. Or let your venue management software alert them for you.

Tip 3: Be your vendors’ favorite event venue

Why does it pay to be your vendors’ favorite venue? If vendors enjoy working with you, they’ll want to come back for more events. So they’ll take care of your facility, go the extra mile for your clients, and provide referrals to work with you again.
To get off on the right foot with vendors, make it incredibly easy to work with you. Share the information they need ahead of time, like: 

• Contact information
• Insurance requirements
• Directions to event spaces
• Directions to loading docks
• Elevator dimensions
• Door widths
• Outlet maps
• Floor plans

Better yet, put together a venue guide for vendors so that they can find everything they need in one central place. 

Tip 4: Support the staff that keep your venue running

Your employees are your venue’s eyes, ears, hands, and heart. They fight fires you may not ever hear about and keep events running smoothly, often without recognition. 
Your venue can’t succeed without your staff, but recruiting event staff has gotten harder. Retain your people and keep attracting employees by building a positivework culture within your event venue business. Most importantly, build a culture of effective communication.

Hold team check-ins before events to make sure everyone is on the same page. Even 10 minutes to update staff on changes can help them feel prepared. And be clear in your expectations. Your employees want to be successful — they need to know how.

Remember, your staff can make or break a guest’s experience. Treat them well.

Tip 5: Treat clients and potential clients well

A no-brainer, right? Sometimes the most obvious venue management advice is also the hardest to follow. Keeping clients happy is Rule #1 of How to Manage Your Event Venue Business, but it requires knowing what they want.
Potential clients want…

• An easy booking process. Don’t make them pick up the phone to schedule a visit. Offer easy online booking for consultations.
• To visit your venue and see the spaces they’d rent. Walk them through your facility and show them everything their guests will see.Directions to event spaces
  Personable staff. Be friendly and inviting before and after they book. Give them a glimpse of how well you’ll take care of their guests.
• To see your pricing. Prospective clients shouldn’t need to jump through hoops to get a quote for their event. 

Clients want…

• Seamless communication leading up to the event. Let them know how things are progressing and keep them in the loop.
• Their guests to feel welcome. Their guests likely won’t remember your venue’s decor, but they will remember how they felt.
• Their event to go exactly as planned. No last minute changes, surprises, or delays. They trust you to manage the details.
• To not have to worry. Your clients want to know you’ve got it under control. Reassure them that their event is in good hands.

Give your clients what they need, and your event venue business will get referrals and positive reviews.

Make running a venue business easier

… with planning hub, your all-in-one venue management software for collaboration. planning hub keeps you organized, simplifies communication, and helps you make your clients, staff, and event team happy.
Sign up for a free account to start collaborating seamlessly: 

Create My Free Account

More questions about how to run an event venue?

How can I make my venue successful?

10 steps to make your event venue business successful:

• Overdeliver for your clients
• Run events on schedule
• Be your vendors’ favorite venue
• Communicate with planners
• Network with local event pro’s
• Retain strong employees
• Keep your facility up to date
• Share reviews and recent photos
• Understand and lower your risk 
• Invest in event management software

How do you manage a venue?
Successfully manage your venue with 5 tips from event professionals:

• Stay organized with a venue software
• Lower your risk profile with insurance
• Make it easy for vendors to work with you
• Support your staff through a positive culture
• Treat your clients and prospects well