conference centre business plan

Event Venue Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Event Venue Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Event Venue Plan Here

Event Venue Business Plan

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

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their event venues.

Event Venue Business Plan Sample & Template

Below are links to each section of a sample plan that can be used as a template for your own plan:

Next Section: Executive Summary >

Event Space Business Plan FAQs

What is an event venue business plan.

A business plan is used to start and/or grow your venue. 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 event venue business plan using our Event Venue Business Plan Template here .

What Are the Main Types of Event Venues?

There are many types of event venues. Some own one venue and rent it out for wedding receptions, corporate events, and other parties. Others have relationships with and rent out hotels, sports arenas, restaurants, and other venues which are desirable to their clientele.

What Are the Main Sources of Revenues and Expenses for an Event Space?

The primary source of revenue for event venues is booking fees paid by clients. Sometimes event spaces also generate revenue from catering events and providing entertainment at them.

The key expenses for event venues are the cost of leasing the venue(s) and staffing costs, particularly if they provide services during the events.

Read more about how to get funding: Seeking Funding from Angel Investors vs Venture Capitalists .

How Do You Get Funding for Your Event Venue Business Plan?

Event venues are most likely to receive funding from banks. Typically you will find a local bank and present your plan to them. Angel investors and credit card financing are other common funding sources.

What are the Steps To Start an Event Venue Business?

Starting an event venue business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An Event Venue Business Plan - The first step in starting a business is to create a detailed event venue business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your event venue business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your event venue business is in compliance with local laws.

3. Register Your Event Venue Business - Once you have chosen a legal structure, the next step is to register your event venue business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your event venue business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Event Venue Equipment & Supplies - In order to start your event venue business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your event venue business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful event venue business:

• How to Start an Event Venue Business

Where Can I Get an Event Venue Business Plan PDF?

You can download our free  event venue business plan template PDF here . This is a sample event venue business plan template you can use in PDF format.

Other Business Plan Templates

Catering Business Plan Template

Bakery Business Plan Template

Coffee Shop Business Plan Template

Food Truck Business Plan Template

How to Write a Business Plan for a Conference Center

by Chris Lewis

Published on 26 Sep 2017

Every business should have a business plan, and a conference center is no exception. A well-written plan not only succinctly describes the business to an outsider, but also provides a reference document for the business owner to monitor progress toward the stated objectives. The process of actually having to think through every stage of the business plan is also useful in that it forces the author to consider every aspect from setting goals to the detailed financial cash flow. A business plan for a conference center faces specific challenges in that it has to rely on a range of services that enable it to function effectively all year around, including times when bookings may be sparse or nonexistent.

Industry information

Marketing plan

Financial projections

Prepare an outline of the plan so that it can act as a guide in building the detailed structure. A suitable plan for a conference center would consist of: Executive summary Mission statement, vision and goals Company background and description Products and services Market and demand analysis Operational plan Management and organization Financial plan * Appendices

Set goals for the business. These need to be defined in quantifiable terms, not just generalities. For instance, 'being profitable' is too vague an objective, a better goal would be: 'to generate pre-tax profits of $120,000 by the end of year two.' That gives the owner something very specific that can then be broken down into smaller targets such as monthly revenue.

Carry out detailed market research to confirm the demand for conference facilities and to review the competitive landscape. The services to be offered will range from the most basic--simply providing accommodation for meetings--to a full-fledged residential center with catering on site and hotel-style facilities. Whatever the size of the enterprise it will need to have meeting rooms and presentation equipment for hire, as well as the ability to provide at least hot and cold drinks and light meals. High speed Internet access is also virtually essential in today's market.

Review the target market and the competition. There are many prospects for a conference center, but some of the most important will be event planners and local companies. The business plan should expand on the demographics for these and describe how they will be made aware of the services provided. Methods will include press releases, a targeted website, networking with bodies such as Chambers of Commerce, as well as traditional print advertising. The competitive review should discuss the strengths and weaknesses of companies offering similar facilities and review their strategies.

Include a financial section giving projected revenues and a profit and loss statement,a balance sheet and source and application of funds. With a conference center, it is likely that the business will be cyclical and it should therefore show how it will cover costs in the quiet period; usually the winter months--perhaps it would offer facilities for private functions such as parties and wedding receptions at the times that company bookings are slow.

Prepare the presentation format. If it is a document primarily intended for internal use, a simple written document might suffice. But if it is to be provided to external investors, the more professional it looks, the better. In this case, it could be provided on a DVD, with photographs, video and audio included. It should be accompanied by a written document or PowerPoint-type presentation, and that would include all relevant information such as detailed statistical analyses and brochures describing the business.

• Venue Management Software
• Event Management Software
• Event Floorplan Software
• GET STARTED
• Sales - 877-266-3885
• Email Sales Rep
• Testimonials

Planning Pod Blog

Fresh insights and best practices for event professionals.

How to Start an Event Venue Business: Two Experts Share 20 Secrets for Opening an Event Space

by Amanda Knaebel | Jan 13, 2021 | Best Practices , Business , Business Management , Catering , Event Vendors and Suppliers , Event Venues , Marketing , Sales , Tech , Tools and Software , Venues

Opening an event venue comes with a long checklist of items that must be in place for a successful launch … and chances are, as a new event space entrepreneur, you’ve probably already read a dozen or so articles that have run you through the basics.

But while these checklist articles can be helpful, they don’t answer the one vital question you should be asking: “What things do seasoned experts know that I don’t about how to successfully launch a venue and be profitable in Year 1?”

Of course hindsight is always 20/20, but when you’re in the midst of starting an event venue and you are new to this, you simply don’t know what you don’t know. 

To help you fill in those gaps and provide you with new insights that aren’t already on your to-do list, we interviewed two of our clients and long-time industry pros to tell us the secrets that helped them along the way and maybe a few things they wish they would’ve known when starting an event space business. 

Join us as Dianne Kohler, CEO of Camrose Regional Exhibition Center, and Michael Hallford, CEO of Hallford & Hallford event and venue management firm, open the vault on their most-valued industry secrets for launching a new venue.

Building out your processes and internal operations ahead of time is critical to generating revenue as you prepare to open your new venue. Planning Pod’s all-in-one platform gives new event facilities 20+ easy-to-use tools to set up systems for managing booking calendars, sales, client communications, contracts, billing, payments and more. Sign up for a free trial today!

#1 – Researching your target audience, competition and location area is easily the most important step in opening a new venue

Chances are you’ve come across plenty of articles that mention you should evaluate the competitive landscape and identify your ideal client base. But according to Dianne and Michael, this isn’t just another item on a list … in fact, it should take priority over just about everything else, because if you don’t get this right, your new venue won’t be in business long.

“Before you write out your business plan, you need to already know who your target audience is, and that’s who you build your venue for, so this starts with research long before you build or buy a venue,” said Michael. 

Michael also warns about automatically trying to go for the clients with the deepest pockets. 

“Keep in mind that your target audience doesn’t necessarily have to be your wealthy ‘Beverly Hills’ type client because that audience isn’t necessarily your highest profit margin,” he added. “Those luxury clients tend to be really demanding and expect a lot. And if they don’t get it the way they think they should get it, then you’re going to have issues afterward with PR. That’s just not something you want to have to deal with.”

“Your best market is probably going to be whoever is the largest demographic in your area who is willing to pay for your services. But you need to plan for that. You’ve got to know what they want, how they want it, when they want it, and why they want it. Then, be prepared to meet those needs as you put together your business plan and buildout plan.”

Dianne agrees that assessing your target audience’s needs and what venue options are already in the area should be done long before you lay a single brick for your new conference center or event space.

“Knowing your market is the number one thing that’s most critical to succeeding with a new facility,” said Dianne. “Because if you don’t understand what the market expects or wants from you, how are you going to provide it? You do this by doing a market needs assessment on other existing venues and the population and demographics in your surrounding community of who you want to sell to.

She also credits thorough upfront planning as an indicator for an event center that will both launch successfully and survive the long term, a challenge for all new small business owners. 

“If you’re building a new venue, you’re building something based on your demographic’s needs for the next 10 years,” she said. “To do this, you need to reach out to your target market and ask them questions and collect data, because the more data you can get before you build or buy a venue, the better.”

“The type of venue you buy or build depends on their needs and the needs of the community you serve. Yes, maybe nobody in the area has a ballroom that’s 30,000 square feet. But are there events that require a ballroom with 30,000 square feet? These are the things you need to consider.”

“All this market research and data is then going to drive your marketing engine for when you’re getting ready to launch.”

#2 – Devising a business plan makes the process of launching an event space business vastly smoother

Once you’ve narrowed in on your audience, you should focus next on developing your business plan. This document can be quite lengthy and in-depth because it fleshes out every detail regarding your venue business – from facility and organizational structure to finances, budgets and marketing. And just like with your target audience, it should be well-researched and realistic if you want it to be useful.

“A business plan is a must, and your plan must budget for covering your first six months of business expenses with zero or little income, just in case,” said Michael. “You should also plan for overages in construction, like around 30%, as that’s just normal.”

In addition to understanding how you’re going to build a special events venue for your ideal client (and what that’s going to cost), you should narrow in on how you will market them.  

“Along with your business plan you have to have a marketing plan that outlines your marketing, branding, PR goals and expenditures, including the few months prior to opening day,” added Michael. 

#3 – Getting your pricing right will prevent lost business and vanishing margins

Before scheduling your first customer walkthrough or booking your first party, make sure your pricing is dialed in properly. Are you charging too much? Are you charging enough? Dianne says that understanding your target audience’s needs, your competitors’ price points and your cost of operations (overhead, mortgage/rent payments, staffing, food and beverage costs, utilities, cleaning, out-of-pocket rentals, etc.) will help you develop the perfect price point that will make your customers happy and keep your venue in business.

“An important part of your business plan is setting your pricing and this goes back to knowing your market,” Dianne reminds us. “What are your clients willing to pay for your services and how are you going to provide real value to them?

“Your market survey and research should include your competitors’ pricing to make sure your pricing is in line with what others charge for similar services. If you want to charge a premium, justify why you can charge it. If you charge less or at a discount, why would you do that and why will it serve the business better?”

One tactic that some new business owners of venues take is to start out by setting their prices lower in order to land more event clients out of the gate (but not so low that you are losing money) and then adjusting their rates upward once cash is flowing regularly.

However, these are all questions you need to ask yourself before pricing and pitching your space.

#4 – Planning out your space thoroughly before you build will add value for your customers

Designing a banquet hall may seem straightforward (just provide ample room for social events and corporate events, right?) but Michael warns that not thoroughly thinking through your design pre-construction can leave you wishing you would have made different decisions.

“If you are in pre-build, the most important step is that you really need to plan your space,” said Michael. “You have to have a plan for adequate storage, proper ingress and egress, about what your fire marshal and local building codes are going to require, how much office area you will need, and if you are going to need a full kitchen or prep kitchen.”

You should also consider what are going to be the biggest elements of your design with regard to ergonomics and those areas where clients and guests expect high quality. 

“An example of this is that people really care a lot about venue washrooms and want them to be bigger, clean and nice. So you should invest more there,” suggests Michael. “If you are going to have food and beverage on site, those are probably two of the biggest things that customers will remember after they leave the event, so those should also take priority in your building and preparation.”

Michael stresses that thinking through these things before you engage a construction contractor will save you many headaches during operations and prevent a remodel down the line. From capacity minimums and maximums down to the number of doorways you will need, “It’s really getting to those fine details, before you actually even design a space. You have to plan for how the space is going to be used.”

And while you’re planning, be sure to add in a little extra room for storage. 

“Surprisingly, you actually need a lot of storage,” exclaimed Michael. “Tables, chairs, linens, staging, dance floors, even just your daily products like cleaners and mop buckets, all of that has to go somewhere. And the worst thing to do is to build a venue and not have enough space for your items.”

#5 – Surprise your clients with unique and flexible design elements

When building and designing your space, Dianne recommends giving it a unique element while leaving room for flexibility for all types of events and setups. She mentioned that over the last five years, more and more event planners and their clients have been searching for places that are unique and new.

“One thing with venues that has been trending for the last five years and will continue is the demand for unique spaces,” said Dianne. “Clients don’t want to book events in empty, spare looking ballrooms or meeting rooms. They want a unique space that is maybe shaped differently or has interesting grounds or flexible decor. So you should consider far in advance what could you add into your space to make it unique for your audience. It doesn’t have to be crazy and cost crazy money. Maybe it’s interesting paint choices or programmable uplighting or downlighting.”

With people really looking to bring the wow factor to their event and to post it on social media, they need an event space that is unique enough to stand out amongst the sea of conference centers, but is also flexible enough to be completely reimagined to meet an event planner’s vision.

“You also want to make your space sizable and flexible for different sizes of groups so you can host groups of 25 as easy as you can 500,” said Dianne. Which means you may need to consider dividable spaces that you can partition off for smaller groups or for hosting multiple parties that can overlap.

#6 – Decide early on if you are a venue rental business or event producer (or both)?

If you’re running a wedding venue or party venue, you’re going to have slower off seasons – times when your event space may sit empty. So, you’ll need to account for how you will handle those empty calendar days.

“As a venue manager, you understand that it’s normal that you’re going to have dark periods where nobody’s renting,” said Dianne. “So, you have to make the determination early. Are you going to rent? Are you going to just ride through the dark areas? Or are you going to get into self production as a way to fill the space on typically dark nights and boost overall revenue? It’s part of the planning process to consider this.”

Some venue owners do decide to cushion their wedding receptions and private events bookings with their own productions (like music performances, seasonal parties and staged shows) on days that their venue tends to sit unoccupied. It can be a great way to cushion income and even perhaps draw in new business, but will take additional resources, marketing and event planning.

Also, if you offer full catering services, you may want to consider offering off-premise catering to maximize revenue from your full-service kitchen (but remember that this comes with its own costs and challenges like maintaining a full-time kitchen staff, marketing, delivery, etc.).

#7 – If something isn’t right with your buildout, speak up with your contractor now (or risk living with elements that turn off your clients)

“Once you’re in the building phase, be very, very picky with your contractors,” said Michael. “If it’s not done exactly the way you want it done, have them redo it. This has got to be part of your contract with each vendor, whether you’re using a general contractor, or you’re contracting things out yourself.

“So if you’ve got a trim carpenter who’s doing crown molding, and there’s a little gap, well that needs to be filled and resanded and repainted. You don’t pay them their last dollar until every single thing is done to your liking.

Reserving the right to thoroughly inspect the work of your contractors, and even stop them in their process to change or correct something, will ensure that your build is completed exactly how you (and your potential clients) envision it. Remember, even if you aren’t being nitpicky, your guests and customers will be, and shoddy workmanship can lead to clients taking a pass on leasing your space.

#8 – Design your venue to impress your most difficult client

When designing, building and finalizing your event venue, you have to oversee the buildout or remodel with the eye of your most difficult customer in mind, says Michael. 

“You’ve got to think about what your most discriminating client is going to look for when they walk through your doors, and you must have that covered,” says Michael. “Because you’re going to have event planners and very discriminating clients who are very picky — whether it’s about the decor, floral arrangements, or food options — and they’re going to nitpick it all.”

Without research, it can be difficult to know exactly what elements are turning potential clients away, and that’s because, as Micheal says, “if they walk through and see something that’s not right for them, they’re not going to say anything to you. They’re just going to take you off their list and move on.”

To avoid this, you may want to have your architect or venue designer create a few different mockups and show them to your target audience members as well as local event planners to get their opinions and feedback.

#9 – Full kitchen or prep kitchen? Decide which is going to work best for your space, your audience and your bottom line

Most venues either opt for a full-service kitchen that they either staff themselves or reserve for their preferred caterer, or they go with the less expensive option of a prep kitchen that outside caterers can use to stage pre-cooked cuisine. Our experts have some slightly different preferences and insights on both of these options, both equally illuminating.

“In our venue, we currently have a prep kitchen,” said Michael “We’ve got the refrigerator, ice maker, two hot boxes, plenty of counter space, sink space, the whole nine yards. All a caterer has to do is come in, bring in a few specialty pieces that they need and they are set.”

“A full service kitchen ideally would be my preference because you get the freshest food,” Michael adds. “If you’re building a facility from scratch, I would recommend planning an actual full kitchen, but it takes a little more prep work in advance because you have to know what kind of grease hold you need to have, what kind and size of venting you need to have in place and things like that. But that sets you up so you can either offer the kitchen space to an outside vendor as a prep kitchen or to an in-house vendor as a full kitchen.”

Dianne counters, “If all you’re doing is banquets and you have a large banquet hall, invest in the full kitchen. But I’m not a fan of full kitchens unless you know you’re going to book out 300 catered events a year in your event center. Remember that kitchens are costly, and your gross margin on a kitchen and food is almost always going to be razor thin. Ask yourself ‘If you build it, do you have all the business to support it?’”

“For example, we closed our staffed commercial kitchen in 2019 because we had been losing money,” said Dianne. “It has now been turned into a prep kitchen. And honestly, unless you have a hotel or conference center with restaurants and room service and you can make money outside of the event space with those other options, a full kitchen requires lots of staffing and the food costs are only going up, which cuts your margins even more.”

Dianne also offers that there are many great caterers in practically every market that your clients can choose from, so if you take the prep kitchen route it can lower your costs on your kitchen build (one time) and staffing (ongoing) and also provides more flexibility for your clients and event planners.

“By having a prep kitchen that we let any client bring their caterer into, it opened up a whole new revenue stream for our private events [as opposed to requiring clients to use our food and beverage services],” added Dianne. “And anyways caterers are going to have better pricing than you, the venue, because it’s all they do and they usually have less overhead and lower staffing costs.”

#10 – You can still make money outsourcing to caterers, too. 

“Our relationship with our in-house caterer and our preferred beverage vendor is that they give us a specific percentage back on the back end of their food and beverage sales,” said Michael. “In exchange for that, they are our in-house provider.”

This partnership means that Michael consistently recommends and sells his catering partner to her clients, only relenting when clients are persistent on bringing in their own food vendors to fit their vision.

Micheal has also established a similar partnership with his beverage vendor, which he doesn’t budge on because this in-house vendor also carries the proper alcohol licensing that covers Michael and his facility from a liability and regulatory standpoint, giving him peace of mind. 

Dianne does have a different viewpoint and finds value in her choice to leave catering options completely open to her potential clients. 

“I’m not a big person for official suppliers, especially caterers,” said Dianne. “I kind of buck the trend on that one, because I want the client to come in and bring in who they trust and who they work with as opposed to me telling them that they have to work with an in-house caterer. You lose the bigger piece of the business – the space rental – over providing food, which is usually making little to no margin.”

Reviewing your target audience can help you decide whether partnerships will be right for your client base. If your ideal customer isn’t an expert at planning their own corporate or social events, they may appreciate the simplicity of choosing from a preferred vendor list. However, if you frequently cater to professional event planners and event production firms, it may be a smarter choice to allow your customers to bring in their own vendors.

#11 – Establish vendor relationships early on

If you’re building an in-house team of preferred vendors, then building relationships with quality vendors can be extremely helpful to a venue startup when launching a wedding venue or conference space. 

“Before you’re even in the facility, it’s all about your networking, starting with who your preferred vendors are and what kind of relationships are you going to set up with them,” said Michael. “Do you want to do a cross referral back and forth with commissions you send each other’s way? That’s not a bad thing at all, but you do need to establish good business boundaries and respect for each other. And you really need to have vendors who are going to go above and beyond for you whenever you need it.”

When searching for and selecting the vendors you want to work with, Michael suggests trying to find a vendor for each category that you don’t already serve in house (catering, beverage, floral, DJs, AV, etc.) then narrowing it down to who has the best reputation. Try to create and build on those relationships well before opening so you already have a team of vendors who understand your business and your facility, and who you can refer clients to.

Even if you decide not to have preferred or in-house vendors, simply compiling a list of reliable local vendors for your clients (so they can choose their own) is a great value-add … and it also helps ensure that the vendors coming through your doors are responsible and committed to delivering on behalf of your clients.

Making vendor connections can happen anywhere, but our experts recommend that venue owners start with attending local networking events for event planning professionals as well as asking around about vendors that stand out in your local hospitality industry.

“Visit the bridal shows, look for vendors who have the best setup and talk with event planners there because they’re going to give you the 411 about who you need to know vendor-wise,” said Michael. “Then, take them to lunch, take them to dinner, send them a gift, show them the progress on your space. They will love it because they’re excited about creating that relationship and that new potential business.”

#12 – Hire flexible, multi-skilled staff who can do everything

In addition to acquiring a list of quality vendors you can lean on, you should also build a team of multi-talented employees who can serve in multiple functions in your event business. 

“Our full time staff members don’t have job titles,” said Dianne. “Because today you may be doing marketing, tomorrow you’re creating an event, the next day you might be answering the phone, the day after that you’re working as a bartender … because all our staff are certified to serve alcohol.”

Dianne suggests that, instead of filling each slot with a specialized person, you should create a “lean-and-mean” team of generalists who are interested in learning the industry and enjoy the flexibility and freshness of an ever-evolving position.

“Even though my staff could probably go out and get any variety of jobs, they love working here because they’re not doing the same thing over and over again and we pay them good money,” said Dianne. “This way it keeps them learning and engaged and there’s always a challenge for them.”

She also warns against overextending yourself and your staff by trying to run full-time, night-and-day event operations with a part-time staff. Instead, try to build a solid crew of reliable full-time employees and supplement where needed. See where and how you can stretch your resources without creating staff burnout.

#13 – Start your marketing efforts long before opening your event space (at least six months out)

When you open the doors to your new event space, you already want to have your event and meeting rooms pre-booked with as many weddings, birthday parties, corporate events, conferences and festivals as possible. The way to do this is by marketing and building an audience before cutting the ribbon on opening day.

Michael says that venue owners who haven’t created a venue website and built a following online via social media platforms (especially Facebook, Instagram and Pinterest) prior to opening have a harder time filling their calendar and tend to have a slower start. 

“You’re going to be paying rent or a mortgage, all these utilities, employee expenses, and if you don’t have a following yet, you won’t be able to start covering all these expenses out of the gate,” said Michael.

“Six months out from opening day, you need to begin your social marketing,” added Michael. “You want to show your progress, announce new relationships with vendors and get them to reciprocate via social media.

“You will need a website built with search engine optimization and with pictures, and if you don’t have pictures yet you can at least have architect renderings and staff pictures.”

Of course, all of these tactics should line up with your overall marketing strategy outlined in your business plan.

#14 – Hire a sales manager six months prior to opening

When you launch your marketing campaigns, you’ll need to have a sales manager in place who can speak with potential clients as well as start an outbound sales effort.

“If you’re not planning six months in advance with hiring a sales manager, then expect your first 90 days in business to be really hard because you’re not going to have those immediate bookings that can begin to pay your bills after your opening,” said Michael.

Some venue owners may assume responsibility for generating sales themselves to stay lean, but Michael suggests that hiring someone to cover this task while you focus your energy on getting your startup venue in shape is a wise investment.

“Unless you can generate sales yourself while you oversee all the details of your construction and all of the other obstacles you will face … and there will be a many … your best bet is to hire a sales manager to focus on getting clients in the door when you open,” said Michael. 

Michael suggests leaning on existing networks and checking out local Facebook groups to find talented salespeople who aren’t already attached to a property and may be interested in your vision. Just don’t poach staff from other venues, which will create a bad first impression and negative word of mouth in the industry, something you don’t need before you launch.

FYI … Here’s a great resource with expert insights for growing event sales for venues .

#15 – Don’t skimp on venue management software and tools … and have them in place when you hire your sales manager

Once you have your marketing and sales team in place, ideally, you’ll start to receive bookings. This means that you should also have your software and systems in place. Trying to piece it together as you go can create a chaotic flow and disjointed processes for you, your staff and your clients and can cause some costly mistakes early on. 

Michael suggests getting a Planning Pod account set up as soon as possible so that you can begin to manage your bookings, business, sales and marketing efforts. Planning Pod also allows you to build reusable templates for contracts, proposals, invoices, BEOs and floor plans so that you can create these ahead of time before you launch.

Micheal also recommends setting up a voice-over-IP phone answering service so your personal cell phone doesn’t become the business phone … which you will regret as your business grows. He also stresses that you should get your important legal documents in order before you start booking events and have an attorney draft your contract so that it’s ironclad with regard to cancellation, refund and damages policies (a painful lesson learned by many special events venues during the coronavirus pandemic).

#16 – Don’t forget to institute safety measures and policies … and don’t try to save by not insuring yourself

“Safety is a huge priority when considering operations,” said Dianne. “Whether it’s food safety, setting up furniture or stages, guest safety, fire safety or capacity requirements. If you’re not an expert on facility safety, hire a consultant, because if you don’t get this right it will bite you in the bum faster than anything else.”

Dianne also mentioned that human resources and insurance policies should be things that you put in place very early on (general business, property and liability policies are a must).

#17 – Have all your furnishings, equipment and supplies on-hand and available three months before opening day

As part of your timeline for opening an event venue, you’ll need to determine when you should order all your supplies and furnishings so that it’s on premise in plenty of time for your opening.

“Three months before you open is when you want to make sure that you have all of your furnishings on hand and in the facility,” said Michael. “This includes all of your tables and chairs, tableware, plateware, silverware, chargers and linens.”

Some pieces can be outsourced, and Michael actually recommends looking into using a linen service at first, which can save you money as you start a venue business. However, he emphasizes that, “tables and chairs should be bought upfront because within just four to six months you will have paid in rental costs what it would have cost you to purchase initially. Just think of this as an investment of getting started.”

And if you aren’t sure which style chair to go with, Michael has an affinity for Chivari chairs, simply because they are very classic. He warns against wooden chairs, which typically need to be replaced in less than a year’s time due to wear-and-tear.

“You can opt for the resin-over-steel-frame version, but I would recommend the clear polycarbonate resin because they have a much longer life and they’re not going to change color,” said Michael. “It’s a much better investment long term. Also make sure the tables and chairs you buy can stand up to tough cleaning products, because you are going to be cleaning these quite often.”

If you plan on having a busy rental business side of your venue, you may also want to purchase items like dance floors, stages, podiums and decor, as you will end up saving money much like you would by purchasing chairs and tables upfront.

Whatever style you choose, just make sure to order them in time. Some items may take longer to fulfill than expected, and things can get backstocked, lost in transit or arrive damaged. When your items do come in, you should inspect each piece and log them into your inventory system, especially if you’re planning on leasing items.

#18 – Practice makes perfect and mock-ups can help sell new clients

Dianne believes that new and seasoned venue owners alike should take advantage of dry runs. Running through a dummy event can help you and your team iron out kinks in your processes and also makes clients feel more confident knowing that you have rehearsed things.

Setting up your room in various styles also helps potential clients visualize your space and gives them an idea of how flexible you can be in realizing their vision.

“I would go in and set up rooms and spaces with tables, chairs, decor and drapes, all in various styles – classrooms, banquets, whatever,” said Dianne. “Then, I’d create floor plans based on these setups and take pictures so you can show your customers and put them on your web site. That way, they can realistically see what things will look like.”

That last idea is a great tip, because these dry-runs and mock-ups give you photos and images that can be shared on your social media profiles and posted on your website until you have photos of actual events.

#19 – Make the most of your grand opening 

Your grand opening needs to be so much more than sending out some email invites and putting out a few appetizers and beverages for whoever stops by. It’s really about making valuable and necessary connections in your industry and community while showing off everything you have to offer. You are an event venue, after all, so your grand opening should be extremely well planned, immaculately executed and heavily attended.

“Always, always do an open house,” said Dianne. “Invite industry people in to snoop around, because they love it. If you’ve got food and beverage in house, this is when you’re highlighting the new menu and getting people to savor it.”

She also said to make sure to chat up all the local event planners, meeting planners and people who produce big events. She encourages venue owners and sales managers to join local associations way ahead of time, even if you have to sign up as a supplier (which is usually more expensive), just to get your name out there and to get these key contacts to attend your event.

“Long before your grand opening gala, you need to get involved with your local Chamber of Commerce, a local Rotary Club, local chapters of industry associations like ILEA [ International Live Events Association ], NACE [ National Association for Catering and Events ] and MPI [ Meeting Professionals International ] and local wedding association chapters like ABC [ Association of Bridal Consultants ],” agreed Michael. “And don’t just sign up, but be actively involved with them and make those relationships. That way, when it comes time to announce your open house, they are all on your invite list and eager to attend.”

Michael also recommends sending out a press release about 30 days prior to your grand opening gala, and he swears by using an experienced PR firm that will have the experience and media connections to help capture the attention of local reporters. 

Dianne’s insider secret is to “invite politicians, like your mayor or city council members to your grand opening, because they will let every media outlet in the area know that they will be attending. It’s a good news story for them, and you’d be amazed at how many other people will attend if they know a politician is showing up.”

#20 – Become a integral part of your community and it will pay huge dividends

“Your mindset prior to and long after your launch should be how you can serve and immerse yourself in your community,” said Dianne. “The more you put into the community, the more you will get back in goodwill, word of mouth and bookings.”

Dianne recommends building business by becoming a community staple, and to do that, you may want to consider offering some spiffs and freebies early on.

“Think about how you can participate in your community, in organizations and on boards, and how you can promote other businesses in your community, because they will reciprocate if you become their trusted partner and promoter,” said Dianne. “If you get involved in the community and be a good community member, I practically guarantee you’ll have success.”

Some tactics she has used before include using dark nights or unbooked days to let speakers host engagements for free or offering her facilities or meeting rooms as a monthly meeting space for local nonprofit groups.

“When you first start out, you simply want boots through the door to check out your new space and kick the tires,” said Dianne. “The more people see it, the more they get familiar with it.

Donating unused, un-rented space to help the pillars of your community doesn’t cost much and can lead to much bigger returns.

“These groups may only have 20 or so people at their meetings, but they all have social networks, and because you are doing them a favor, they will spread the word into the community about you. You’d be amazed how many community group organizations that we’ve helped out have promoted us on social media, and that became another big marketing channel in driving clients through our doors.”

Starting an event space? Don’t forget to talk to seasoned pros like Dianne and Michael

Launching any new business comes with its fair share of learning curves. However, relying on the advice and experience of industry experts can go a long way in helping you gain insights from their successes and prevent making the same mistakes that they did. Experts like Dianne and Michael come with decades of experience of hosting all types of events (and the hard-earned lessons that come with it).

At Planning Pod, as a venue management software solution used by hundreds of venues, we come across our fair share of experienced venue owners, from L.A. to New York and everywhere in between, who wish they knew what they know now before they opened an event space.

As such, we encourage you to reach out to other venue owners and pick their brains about what you should (and shouldn’t) be doing as you move forward with your event space startup. This might require you to join a professional organization like ILEA or MPI, to reach out to hospitality business owners outside of your area or to even hire a venue consultant to help you through the process.

In the end, all this preparation is worth it because it starts you down the right path to success. Having the right tools and processes in place is part of this preparation, and that’s where Planning Pod comes in. Our all-in-one venue management software provides everything you need to manage your bookings, sales, billings, communications and more. Sign up for a free trial.

Most Recent Posts

• How data empowers event businesses: Mitigating slow seasons and thriving during peaks
• Top 7 online venue directories to boost your event business marketing
• Ad landing pages for event businesses: selling more through optimized pages
• A/B testing: Best practices and tools for marketing your event business
• 6 Steps to finding the right digital ad platforms for your event business

This is an excellent guide!

Very thorough and practical advice. One of the best resources I have come across so far – thank you!

This was amazing content. Easy to understand. I learned a lot of new things I never thought to consider. Thank you!

Excellent!!! A very easy guide – all things I feel are doable! Thank you!

Awesome step by step content! I loved the part where you mentioned to design your venue to impress your most difficult client! Very informational article – Thanks!

WOW!!! Just WOW!!! Can’t even imagine what this info would’ve cost! I’m 10x more excited to break into the event venue bus in. Now. THANK U THANK U THANK U!!!

Wow! Great. The content is very very informative. Thank you.

Very detailed explanation, I gained so much insight into this new project and I am really excited about it

Submit a Comment Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Submit Comment

Subscribe to our monthly newsletter for industry-relevant news and insights.

You won't regret it ;)

Sample Business Plan For Event Venue Business Owners

Download our Ultimate Event Venue Business Plan Template here

It is important to keep in mind that this is a sample to be used as a guide to help you create your own custom business plan tailored specifically to your event space.

Event Venue Business Plan Example – Sunny Event Venue

Executive summary, business overview.

Sunny Event Venue is a full-service event venue located in the heart of the financial district of downtown Los Angeles. We offer our clients a unique and sophisticated setting for their events, complete with state-of-the-art audio/visual equipment and experienced event planners to ensure a successful event.

Products Served and Target Markets

Sunny Event Venue offers its clients a variety of event packages that can be customized to fit any budget or need. We specialize in weddings, corporate events, and social gatherings. Our target markets include the following:

• Weddings : couples getting married, wedding planners, event coordinators
• Corporate Events : small to medium-sized businesses, corporations, non-profit organizations
• Social Gatherings : private parties, fundraisers, holiday parties

Industry Analysis

The event venue industry is growing at a steady rate as more and more people are seeking unique and special venues for their events. The industry is expected to grow by 3% in the next five years. Sunny Event Venue is well positioned to take advantage of this growth with our centrally located venue and experienced event planning staff.

Customer Focus

Sunny Event Venue prides itself on providing its clients with a one-of-a-kind event experience. We take the time to get to know our clients and their needs in order to provide them with a personalized event that meets all of their expectations.

Management Team

Sunny Event Venue is owned and operated by husband and wife team, John and Sarah Jones. John has over 10 years of experience in the event planning industry, while Sarah has a background in marketing and sales. Together, they bring a wealth of knowledge and experience to the business.

Success Factors

The success of Sunny Event Venue will be driven by the following factors:

• Location : our venue is centrally located in downtown Los Angeles, making it easy for clients to get to
• Experience : our event planners have over 10 years of experience in the industry and are experts at executing successful events
• Customer Service : we pride ourselves on providing outstanding customer service and working closely with our clients to ensure their complete satisfaction

Financial Highlights

Sunny Event Venue is a profitable business that generated $1.2 million in revenue and $250,000 in net profit last year. We are projecting similar numbers for the next five years.

Company Overview

Who is sunny event venue.

Sunny Event Venue is a full-service event center business located in the heart of downtown Los Angeles. We offer a variety of services to our clients, including event planning, catering, and decorating. We strive to provide our clients with a one-of-a-kind experience that they will remember for years to come.

Company History

Sunny Event Venue was founded in 2009 by entrepreneurs Sarah Jones and John Jones. We saw a need in the market for a full-service event venue that could provide its clients with a truly unique and memorable experience. Since then, we have been dedicated to providing our clients with the best possible service and creating lasting memories.

Mission Statement

Our mission is simple: to provide our clients with the best possible event planning experience from start to finish. We are dedicated to making your event planning process as easy and stress-free as possible so that you can enjoy your special day.

Products / Services

At Sunny Event Venue, we offer a variety of services to our clients, including event planning, catering, and decorating. We also offer a wide range of event packages that can be customized to meet your specific needs. No matter what type of event you are planning, we will work with you to create a package that is perfect for you.

The event venue industry is growing at a steady rate as more and more people are seeking unique and special venues for their events including weddings, corporate functions, and private parties. The industry is expected to grow by 3% in the next five years.

Sunny Event Venue is well positioned to take advantage of this growth with our centrally located venue and experienced event planning staff. We can handle the local demand as well as the growing demand from out-of-town clients who are looking for a unique and special event venue.

Customer Analysis

Sunny Event Venue’s typical customer is a bride-to-be who is looking for a unique and special venue for her wedding. We also have a strong corporate and private party business. Our customers come from all over the Los Angeles area, as well as from out of town.

Demographics:

Local clients:.

• Location: Los Angeles, CA
• Income: $50,000-$100,000

Out of Town Clients:

• Location: all over the US

Service Segmentation:

• Weddings: 50%
• Corporate Events: 30%
• Private Parties: 20%

Competitive Analysis

Sunny Event Venue has several competitors in the Los Angeles area, but we are the only full-service event venue in downtown Los Angeles. We believe that our central location, experienced event planners, and outstanding customer service set us apart from our competitors and give us a competitive advantage.

Direct Competitors:

The wedding chapel.

The Wedding Chapel is a full-service event venue that offers a variety of services to its clients, including event planning, catering, and decorating. They strive to provide their clients with a unique and memorable experience that they will remember for years to come.

The Wedding Chapel is Sunny Event Venue’s biggest competitor. They are located in the Los Angeles area and offer a similar range of services. The Wedding Chapel has been in business for 10 years and has a strong reputation in the industry.

The Ritz Carlton

The Ritz Carlton is a luxury hotel that offers a variety of services to its guests, including event planning, catering, and decorating. They strive to provide their guests with a truly unique and memorable experience.

The Ritz Carlton is Sunny Event Venue’s most direct competitor. They are located in the Los Angeles area and offer a similar range of services. The Ritz Carlton has been in business for over 20 years and is a well-known and respected brand in the industry.

The Beverly Hills Hotel

The Beverly Hills Hotel is a luxury hotel that offers a variety of services to its guests, including event planning, catering, and decorating. They strive to provide their guests with a truly unique and memorable experience.

The Beverly Hills Hotel is another direct competitor of Sunny Event Venue. They are located in the Los Angeles area and offer a similar range of services. The Beverly Hills Hotel has been in business for over 30 years and is a well-known and respected brand in the industry.

Indirect Competitors:

Local venues:.

There are many local event venues in the Los Angeles area that offer a variety of services to their clients, including event planning, catering, and decorating. Some of these venues include:

• The Los Angeles Convention Center
• Staples Center
• Hollywood Bowl

There are many hotels in the Los Angeles area that offer a variety of services to their guests, including event planning, catering, and decorating. Some of these hotels include:

• The Beverly Hilton
• The Four Seasons
• The Peninsula

Restaurants:

There are many restaurants in the Los Angeles area that offer a variety of services to their clients, including event planning, catering, and decorating. Some of these restaurants include:

Marketing Plan

The sunny event venue brand.

Our brand is all about luxury, elegance, and creating unforgettable experiences. We want our clients to feel like they are the only ones that matter when they are working with us. We strive to provide our clients with top-notch customer service and attention to detail.

Our logo is a simple sunburst design that conveys the message of warmth, happiness, and positivity. Our brand colors are gold and white, which represent luxury and sophistication.

The Sunny Event Venue’s mission is to provide our clients with the most memorable event experience possible. We will work tirelessly to make sure that every detail is perfect and that your event is one that you and your guests will remember for years to come.

Vision Statement

The Sunny Event Venue vision is to be the premier event venue in the Los Angeles area. We will achieve this by providing our clients with the highest level of customer service and attention to detail.

Marketing Goals

The Sunny Event Venue marketing team has set the following goals for the upcoming year:

• Increase brand awareness by 20%
• Generate 30 new leads per month
• Convert 10% of leads into sales
• Increase website traffic by 25%
• Increase social media followers by 10%

Marketing Strategies

To reach our marketing goals, we will focus on the following strategies:

• Develop a strong online presence : We will create a strong online presence by developing a well-optimized website and active social media accounts. We will create informative and engaging content that will showcase our venue and what we have to offer.
• Advertise in local publications : We will place ads in local publications that target potential clients in the Los Angeles area.
• Participate in local events : We will participate in local events, such as bridal shows, that will allow us to meet potential clients and market our venue directly to them.
• Develop relationships with local vendors : We will develop relationships with local vendors, such as florists, caterers, and photographers. This will allow us to provide our clients with a one-stop shop for their event planning needs.
• Provide discounts and promotions : We will provide discounts and promotions on our services to encourage potential clients to book our venue.

Operations Plan

The Sunny Event Venue will be open for business 7 days a week, from 9 am to 5 pm. We will be closed on major holidays.

Our venue can accommodate up to 200 guests for seated events and up to 300 guests for standing events. We have a variety of event spaces that can be used for weddings, corporate events, holiday parties, and more.

We will have a team of 4 event planners on staff who will work with clients to plan their perfect event. Our event planners are experienced and knowledgeable about the industry and will work tirelessly to make sure that your event is everything you’ve ever dreamed of.

In addition to our event planners, we will have a team of 4 customer service representatives who will be available to answer any questions you may have about our venue or services. Our customer service team is friendly and efficient, and they will do everything they can to make sure that you are satisfied with our services.

We will have two event spaces available for rent:

• The Grand Ballroom : This 5,000-square-foot space can accommodate up to 500 guests and features a stage, a dance floor, and a built-in bar.
• The Garden : This 3,000-square-foot space can accommodate up to 300 guests and features a beautiful garden setting with a gazebo.

The Sunny Event Venue has set the following milestones for the next year:

• Book 10 events
• Generate $100,000 in revenue
• Hire 2 additional event planners
• Launch a new website

The Sunny Event Venue management team is comprised of experienced event professionals who are passionate about making your event a success.

Our team includes:

CEO – Sarah Jones

Sarah is the founder and owner of The Sunny Event Venue. She has over 10 years of experience in the event planning industry and has planned events for clients all over the world. Sarah is a certified event planner and has a bachelor’s degree in business administration.

CFO – John Doe

John is the chief financial officer of The Sunny Event Venue. He has over 15 years of experience in the finance industry and has a deep understanding of event planning finances. John is a certified public accountant and has a bachelor’s degree in accounting.

Director of Sales – Jane Smith

Jane is the director of sales for The Sunny Event Venue. She has over 8 years of experience in sales and marketing, and she has a deep understanding of the event industry. Jane is a certified event planner and has a bachelor’s degree in marketing.

Director of Operations – Tom Cruz

Tom is the director of operations for The Sunny Event Venue. He has over 20 years of experience in the hospitality industry and has a deep understanding of event planning and operations. Tom is a certified event planner and has a bachelor’s degree in hospitality management.

Financial Plan

The Sunny Event Venue is a for-profit company and our financial goal is to generate a profit of $50,000 in our first year of operation.

To achieve this goal, we will need to generate $500,000 in revenue. We expect that 50% of our revenue will come from event rental fees and the other 50% will come from food and beverage sales.

Our operating expenses for the first year of business are projected to be $450,000. This includes $200,000 for salaries and wages, $100,000 for rent, $50,000 for marketing and advertising, $50,000 for repairs and maintenance, and $50,000 for miscellaneous expenses.

We have secured $250,000 in funding from private investors and we will use this money to cover our start-up costs. We are confident that we will be able to generate the revenue needed to make a profit and pay back our investors within the first year of operation.

The appendix of our business plan includes our financial statements, resumes of our management team, and copies of our lease agreements.

With this event venue business plan example, you can see that there is a lot of work that goes into planning and launching a successful event venue business. However, if you have a clear plan and an experienced team in place, you will be able to achieve your goals and make your event venue a success.

Event Venue Business Plan Example PDF

Download our event venue business plan pdf here. This is a free event venue business plan example to help you get started on your own event venue plan.  

How to Finish Your Event Venue Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your event venue business plan?

With Growthink’s Ultimate Event Venue Business Plan Template you can finish your plan in just 8 hours or less!

Other Helpful Business Plan Articles & Templates

• Customer Reviews
• Net 30 Account
• Wise Services
• Steps & Timeline
• Work at a Glance
• Market Research at a Glance
• Business Plan Writing Services
• Bank Business Plan
• Investor Business Plan
• Franchise Business Plan
• Cannabis Business Plan
• Strategic Business Plan
• Corporate Business Plan
• Merge and Acquisition Business Plan (M&A)
• Private Placement Memorandums (PPM)
• Sample Business Plans
• Professional Feasibility Study
• PowerPoint Presentations
• Pitch Deck Presentation Services
• Business Plan Printing
• Market Research
• L-1 Business Plan
• E-2 Business Plan
• EB-5 Business Plan
• EB-5 Regional Centers
• Immigration Attorneys
• Nonprofit Business Plan
• Exit Business Planning
• Business Planning
• Business Formation
• Business License
• Business Website
• Business Branding
• Business Bank Account
• Digital Marketing
• Business Funding Resources
• Small Business Loans
• Venture Capital
• Net 30 Apply

• Frequently Asked Questions
• Business Credit Cards
• Talk to Us 1-800-496-1056

Event Venue Business Plan: How to Start and Grow Your Event Space Business

Are you looking for a way to turn your passion for hosting events into a profitable business? Do you want to know how to create a successful event venue business plan that will attract investors and customers? If so, you are in the right place.

In this article, we will show you how to start and grow your event space business with a comprehensive and professional business plan. We will also provide you with a free business plan template and examples that you can download and customize for your own needs.

What is an Event Venue Business?

An event venue business is a company that provides a space for hosting various types of events, such as weddings, corporate meetings, social gatherings, sports events, and more. An event venue business can offer different services and amenities, such as catering, entertainment, equipment rental, security, parking, and more.

An event venue business can be a lucrative and rewarding venture, as it can generate multiple streams of income from different clients and events. However, it also requires a lot of planning, investment, marketing, and management to succeed in a competitive market.

Why Do You Need an Event Venue Business Plan?

A business plan is a document that describes your business goals, strategies, market analysis, financial projections, and operational details. It is essential for any type of business, especially for an event venue business, because:

• It helps you clarify your vision and mission for your business
• It helps you identify your target market and competitive advantage
• It helps you plan your marketing and sales strategies
• It helps you estimate your startup and operational costs
• It helps you forecast your revenue and profit potential
• It helps you attract funding from investors or lenders
• It helps you monitor and evaluate your progress and performance

Looking for business plan writers?

Hire a professional writer to write an event venue business plan?

How to Create an Event Venue Business Plan?

Creating an event venue business plan can be a daunting task, but it can be simplified by following these steps:

Executive Summary: This is a brief overview of your business plan that summarizes your business idea, goals, market opportunity, competitive edge, funding request, and financial highlights. It should be written last after you have completed the rest of the sections. Learn more on business plan executive summary .

Company Overview: This is where you introduce your company name legal structure (sole proprietorship, partnership, corporation, etc.), ownership (who owns the company), history (when and how it was founded), vision (what you want to achieve) and mission (how you want to achieve it). Check our detailed guide on business plan company overview .

Industry Analysis: This is where you analyze the current trends and outlook of the event venue industry in your area or country. You should include information such as the size, growth, demand, supply, segmentation and profitability of the industry. You should also identify the opportunities and threats that affect your business. Read more on business plan industry analysis .

Competitive Analysis: This is where you identify and evaluate your direct and indirect competitors in the event venue market. You should include information such as their names, locations, services, prices, strengths, and weaknesses. You should also explain how you plan to differentiate yourself from them and gain a competitive advantage. Learn more on business plan competitive analysis .

Customer Analysis: This is where you define and describe your target market segments and customers. You should include information such as their demographics (age, gender, income, etc.), psychographics (interests, preferences, etc.), behavior (how they search for and book event venues), needs (what they want from an event venue) and pain points (what problems they face with event venues). You should also explain how you plan to reach them and satisfy them with your services. 

Operations Plan: This is where you describe how you will run your event venue business on a daily basis. You should include information such as your location (where your event space is located), facilities (what features and amenities your event space offers), equipment (what tools and machines you need to operate), suppliers (who provides you with goods or services), staff (how many people you need to hire and what roles they perform), processes (how you deliver your services) and quality control (how you ensure customer satisfaction). Do you want to explore more, find how operations plan works in business plan .

Marketing Plan: This is where you outline how you will promote your event venue business to attract customers. You should include information such as your marketing objectives (what you want to achieve with your marketing efforts), marketing strategies (how you will use the 4Ps of marketing: product, price, place, and promotion), marketing channels (where you will advertise or communicate with your customers), marketing budget (how much money you will spend on marketing) and marketing metrics (how you will measure the effectiveness of your marketing).Find our guide on what to include in  marketing plan in business plan .

Funding Request: This is where you state how much money you need to start and run your event venue business, and how you plan to use it. You should include information such as your funding sources (where you will get the money from), your funding needs (how much money you need for each purpose), your funding terms (what interest rate, repayment period, and collateral you offer), and your funding projections (how the funding will affect your financial performance).

Financial Plan: This is where you provide the financial statements and forecasts for your event venue business. You should include information such as your income statement (showing your revenue, expenses, and profit), your balance sheet (showing your assets, liabilities, and equity), your cash flow statement (showing your cash inflows and outflows), and your break-even analysis (showing when you will start making a profit). You should also include some financial ratios (such as profitability, liquidity, and solvency) and assumptions (such as growth rate, inflation rate, and tax rate) that support your financial plan. Read more on what to include in  business plan financial plan .

Appendix: This is where you attach any additional documents or information that support your business plan, such as market research data, customer testimonials, legal documents, resumes of key personnel, contracts, licenses, permits, etc. Check more details on what to include in business plan appendix .

Hire virtual assistant now!

Where can you get an event venue business plan template and example.

If you want to save time and effort in creating your event venue business plan, you can use a template or an example that has already been prepared for you. The following is a free event venue business plan template and an example that you can download.

• Event Venue Business Plan Template
• Event Venue Business Plan Example

These templates and examples are easy to use and customize for your own needs. They also include tips and guidance on how to write each section of your business plan.

Hire a professional who makes business plan!

Examples of event venue business plans that will assist you in writing yours.

I will give you an example with each section of Oren Co, which is an event venue business that specializes in hosting outdoor events. Here is an example:

Event Venue Business Plan: Oren Co

Executive summary.

Oren Co is a new event venue business that offers a unique and natural setting for hosting various types of outdoor events, such as weddings, corporate retreats, festivals, concerts, and more. Oren Co is located in Washington USA and operates on a 10-acre land that features a lush garden, a pond, a gazebo, a stage, a tent and other amenities. Oren Co aims to provide a memorable and enjoyable experience for its clients and guests, while also being environmentally friendly and socially responsible.

Oren Co has identified a growing demand for outdoor event venues in its area, as more people are looking for alternative and creative ways to celebrate their special occasions. Oren Co has also conducted thorough market research and competitive analysis and has found that it has a strong competitive edge over its rivals, as it offers a unique and natural setting, a variety of services and packages, affordable prices, and excellent customer service.

Oren Co is seeking $100,000 in funding to start and grow its business. The funding will be used for purchasing equipment, hiring staff, marketing and advertising, and working capital. Oren Co expects to generate $300,000 in revenue and $50,000 in profit in its first year of operation, and to break even in its second year. Oren Co also projects to increase its revenue and profit by 20% annually in the following years.

Company Overview

Oren Co is a sole proprietorship owned and operated by Mr. Oren Khan, who has over 10 years of experience in the event management industry. Mr. Khan has worked as an event planner, coordinator and manager for various companies and organizations, such as WiseBusinessPlans, Eventful Solutions and Washington USA Tourism Board. Mr. Khan has also organized and hosted several successful outdoor events for his own clients, such as weddings, corporate retreats, festivals and concerts.

Oren Co was founded in August 2023, after Mr. Khan acquired a 10-acre land in Washington USA that was previously used as a farm. Mr. Khan saw the potential of transforming the land into an event venue that could cater to the growing demand for outdoor events in his area. Mr. Khan invested $50,000 of his own savings to renovate the land and equip it with the necessary facilities and amenities for hosting events.

Oren Co’s vision is to become the leading provider of outdoor event venues in Washington USA and beyond. Oren Co’s mission is to offer a unique and natural setting for hosting various types of outdoor events, while providing high-quality services, affordable prices, and excellent customer service.

Industry Analysis

The event venue industry is a subset of the broader event management industry, which includes planning, organizing and hosting various types of events for different purposes and audiences. The event venue industry consists of companies that provide spaces for hosting events, such as hotels, resorts, convention centers, banquet halls, stadiums, theaters, etc.

According to IBISWorld, the global event management industry was worth $1.1 trillion in 2020 and is expected to grow at an annual rate of 3.6% from 2021 to 2026. The growth of the industry is driven by factors such as increasing disposable income, urbanization, globalization, technological innovation and social media. The industry is also influenced by trends such as personalization, sustainability, diversity and creativity.

The event venue industry in USA is a growing and profitable segment of the event management industry. According to Market Research Future, the event management market in USA was worth $1.2 billion in 2019, and is expected to grow at an annual rate of 8.2% from 2020 to 2025. The growth of the market is driven by factors such as increasing population, economic development, cultural diversity, tourism and entertainment.

The event venue industry in USA is also experiencing a shift in consumer preferences and behavior, as more people are looking for alternative and creative ways to celebrate their special occasions. According to a survey by Eventbrite, 78% of USA consumers prefer to spend money on experiences rather than things, and 72% of them are interested in attending outdoor events. Moreover, according to a report by Event Industry News, outdoor events are becoming more popular and profitable in USA, as they offer more flexibility, variety and affordability than indoor events.

Competitive Analysis

Oren Co faces competition from other event venue providers in its area, both direct and indirect. The direct competitors are those that offer similar services and cater to the same target market as Oren Co, such as outdoor event venues, parks, gardens etc. The indirect competitors are those that offer different services but cater to the same target market as Oren Co, such as indoor event venues, hotels, resorts etc.

Some of the main direct competitors of Oren Co are:

Green Valley: This is an outdoor event venue that offers a green and spacious setting for hosting weddings, parties, corporate events and more. It is located in Lahore, about 50 km from Oren Co’s location. It has a capacity of up to 500 guests, and offers services such as catering, decoration, entertainment, photography etc. It charges an average of $2,000 per event. Royal Garden: This is an outdoor event venue that offers a royal and elegant setting for hosting weddings, parties, corporate events and more. It is located in Islamabad, about 100 km from Oren Co’s location. It has a capacity of up to 1,000 guests, and offers services such as catering, decoration, entertainment, photography etc. It charges an average of $3,000 per event. Dreamland: This is an outdoor event venue that offers a dreamy and romantic setting for hosting weddings, parties, corporate events and more. It is located in Faisalabad, about 150 km from Oren Co’s location. It has a capacity of up to 800 guests, and offers services such as catering, decoration, entertainment, photography etc. It charges an average of $2,500 per event.

Some of the main indirect competitors of Oren Co are:

Pearl Hotel: This is an indoor event venue that offers a luxurious and modern setting for hosting weddings, parties, corporate events and more. It is located in Lahore, about 50 km from Oren Co’s location. It has a capacity of up to 500 guests, and offers services such as catering, accommodation, entertainment, photography etc. It charges an average of $4,000 per event. Grand Resort: This is an indoor event venue that offers a grand and elegant setting for hosting weddings, parties, corporate events and more. It is located in Islamabad, about 100 km from Oren Co’s location. It has a capacity of up to 1,000 guests, and offers services such as catering, accommodation, entertainment, photography etc. It charges an average of $5,000 per event. Paradise Hall: This is an indoor event venue that offers a simple and affordable setting for hosting weddings, parties, corporate events and more. It is located in Faisalabad, about 150 km from Oren Co’s location. It has a capacity of up to 800 guests, and offers services such as catering, decoration, entertainment, photography etc. It charges an average of $1,500 per event.

Oren Co has a strong competitive edge over its rivals, as it offers a unique and natural setting that appeals to the growing demand for outdoor events in its area. Oren Co also offers a variety of services and packages that suit different needs and budgets of its clients. Oren Co also offers affordable prices and excellent customer service that ensure customer satisfaction and loyalty.

Customer Analysis

Oren Co’s target market consists of individuals and organizations that are looking for an outdoor event venue for hosting various types of events, such as weddings, parties, corporate retreats, festivals, concerts etc. Oren Co’s target market can be segmented into two main groups: personal customers and business customers.

Personal customers are those who are looking for an outdoor event venue for hosting their personal or social events, such as weddings, parties, anniversaries etc. These customers are mainly motivated by factors such as personal preference, emotional value, social status and word-of-mouth. These customers are mainly located in Washington USA and nearby regions, and have an average income of $10,000 per year.

Business customers are those who are looking for an outdoor event venue for hosting their business or professional events, such as corporate retreats, team building activities such as corporate retreats, team-building activities, seminars, workshops etc. These customers are mainly motivated by factors such as business objectives, cost-effectiveness, convenience and reputation. These customers are mainly located in Washington USA and nearby regions and have an average income of $50,000 per year.

Oren Co’s target market is large and growing, as more people and organizations are looking for alternative and creative ways to celebrate their special occasions. According to a report by Event Industry News, the outdoor event market in USA is expected to grow at an annual rate of 10% from 2020 to 2025. Oren Co’s target market is also profitable, as the average spending per event is $2,500 for personal customers and $5,000 for business customers.

Oren Co’s target market is also accessible and reachable, as Oren Co can use various channels and methods to promote its services and attract its customers, such as online platforms, social media, referrals, partnerships etc. Oren Co can also leverage its location advantage, as it is situated in a strategic and convenient location that is easily accessible by road and public transportation.

Marketing Plan

Oren Co’s marketing plan consists of four main elements: product, price, place and promotion.

Product: Oren Co’s product is its outdoor event venue that offers a unique and natural setting for hosting various types of events. Oren Co’s product also includes its services and packages that provide catering, decoration, entertainment, photography and other amenities for its clients and guests. Oren Co’s product is designed to meet the needs and expectations of its target market, as it offers flexibility, variety and affordability.

Price: Oren Co’s price strategy is to offer competitive and reasonable prices that reflect the value and quality of its product. Oren Co’s price strategy also aims to attract and retain its customers, as well as to generate revenue and profit for its business. Oren Co’s price strategy is based on factors such as market demand, competitor prices, cost of production and profit margin. Oren Co’s average price per event is $2,500 for personal customers and $5,000 for business customers.

Place: Oren Co’s place strategy is to distribute its product through its own physical location that serves as its outdoor event venue. Oren Co’s place strategy also involves using online platforms such as its website and social media accounts to showcase its product and communicate with its customers. Oren Co’s place strategy is intended to make its product available and accessible to its target market, as well as to create a positive image and reputation for its business.

Promotion: Oren Co’s promotion strategy is to use various channels and methods to advertise and promote its product and business to its target market. Oren Co’s promotion strategy also aims to create awareness, interest and desire for its product, as well as to encourage action and loyalty from its customers. Oren Co’s promotion strategy includes the following activities:

Online marketing: Oren Co will use online platforms such as its website, social media accounts, email newsletters, blogs etc. to showcase its product, share its stories, testimonials and reviews, offer discounts and incentives, and interact with its customers and potential customers.

Offline marketing: Oren Co will use offline channels such as flyers, brochures, banners, posters etc. to display its product, highlight its features and benefits, and provide its contact details and location. Referral marketing: Oren Co will use word-of-mouth and referrals to spread the word about its product and business, and to generate positive feedback and recommendations from its customers and partners. Oren Co will also offer rewards and incentives for referrals, such as discounts, vouchers, freebies etc.

Partnership marketing: Oren Co will partner with other businesses and organizations that are related or complementary to its product and target market, such as event planners, caterers, decorators, entertainers, photographers etc. Oren Co will also partner with local media outlets, influencers, celebrities etc. to gain exposure and publicity for its product and business.

Financial Plan

Oren Co’s financial plan consists of three main components: startup costs, income statement and cash flow statement.

Startup costs: Oren Co’s startup costs are the expenses that are required to start and launch its business. Oren Co’s startup costs include the following items:

Equipment: This includes the purchase of equipment such as tables, chairs, tents, stage, sound system, etc. The total cost of equipment is $30,000.

Staff: This includes the hiring of staff such as event manager, event coordinator, event staff etc. The total cost of staff is $10,000.

Marketing: This includes the expenses for marketing activities such as online marketing, offline marketing, referral marketing and partnership marketing. The total cost of marketing is $5,000.

Legal: This includes the fees for legal services such as registration, licensing, permits etc. The total cost of legal is $2,000. Miscellaneous: This includes the costs for other items such as insurance, utilities, maintenance etc. The total cost of miscellaneous is $3,000. The total startup costs for Oren Co are $50,000.

Income statement: Oren Co’s income statement is a summary of its revenue and expenses for a given period of time. Oren Co’s income statement for the first year of operation is as follows:

Revenue: This is the amount of money that Oren Co earns from its product sales. Oren Co’s revenue is calculated by multiplying the number of events by the average price per event. Oren Co expects to host 100 events in the first year, with an average price of $3,500 per event. Therefore, Oren Co’s revenue for the first year is $350,000.

Expenses: This is the amount of money that Oren Co spends on its business operations. Oren Co’s expenses include the following items:

Cost of goods sold: This is the cost of producing and delivering its product. Oren Co’s cost of goods sold is calculated by multiplying the number of events by the average cost per event. Oren Co estimates that the average cost per event is $1,500, which includes the costs of catering, decoration, entertainment, photography and other amenities. Therefore, Oren Co’s cost of goods sold for the first year is $150,000.

Operating expenses: This is the cost of running and managing its business. Oren Co’s operating expenses include the following items:

Staff: This is the cost of paying salaries and wages to its staff. Oren Co estimates that it will have 10 staff members in the first year, with an average salary of $1,000 per month. Therefore, Oren Co’s staff expense for the first year is $120,000.

Marketing: This is the cost of conducting marketing activities to promote its product and business. Oren Co estimates that it will spend 10% of its revenue on marketing in the first year. Therefore, Oren Co’s marketing expense for the first year is $35,000.

Legal: This is the cost of paying fees for legal services such as registration, licensing, permits etc. Oren Co estimates that it will spend 5% of its startup costs on legal in the first year. Therefore, Oren Co’s legal expense for the first year is $2,500.

Miscellaneous: This is the cost of paying for other items such as insurance, utilities, maintenance etc. Oren Co estimates that it will spend 5% of its revenue on miscellaneous in the first year. Therefore, Oren Co’s miscellaneous expense for the first year is $17,500.

The total expenses for Oren Co are $325,000.

Profit: This is the amount of money that Oren Co earns after deducting its expenses from its revenue. Oren Co’s profit is calculated by subtracting its expenses from its revenue. Therefore, Oren Co’s profit for the first year is $25,000. Cash flow statement: Oren Co’s cash flow statement is a report of its cash inflows and outflows for a given period of time. Oren Co’s cash flow statement for the first year of operation is as follows:

Cash inflows: This is the amount of money that Oren Co receives from its product sales and other sources. Oren Co’s cash inflows include the following items:

Revenue: This is the same as the revenue in the income statement. Oren Co’s revenue for the first year is $350,000. Loans: This is the amount of money that Oren Co borrows from banks or other lenders to finance its startup costs and working capital. Oren Co plans to obtain a loan of $40,000 with an interest rate of 10% per annum and a repayment period of 5 years. Therefore, Oren Co’s loan inflow for the first year is $40,000. The total cash inflows for Oren Co are $390,000.

Cash outflows: This is the amount of money that Oren Co spends on its business operations and other purposes. Oren Co’s cash outflows include the following items:

Startup costs: This is the same as the startup costs in the financial plan. Oren Co’s startup costs are $50,000. Expenses: This is the same as the expenses in the income statement. Oren Co’s expenses for the first year are $325,000. Loan repayments: This is the amount of money that Oren Co pays back to its lenders for its loan principal and interest. Oren Co’s loan repayments are calculated by using an amortization table. According to the table, Oren Co’s loan repayments for the first year are $10,200.

The total cash outflows for Oren Co are $385,200.

Net cash flow: This is the amount of money that Oren Co has left over after subtracting its cash outflows from its cash inflows. Oren Co’s net cash flow is calculated by subtracting its cash outflows from its cash inflows. Therefore, Oren Co’s net cash flow for the first year is $4,800.

Oren Co is a new business that offers an outdoor event venue for hosting various types of events in Washington USA. Oren Co has a strong competitive edge over its rivals, as it offers a unique and natural setting that appeals to the growing demand for outdoor events in its area. Oren Co also has a large and profitable target market that consists of individuals and organizations that are looking for an alternative and creative way to celebrate their special occasions. Oren Co also has a comprehensive marketing plan that uses various channels and methods to advertise and promote its product and business to its target market. Oren Co also has a realistic financial plan that shows its revenue and expenses projections, as well as its cash flow analysis. Oren Co expects to generate a profit of $25,000 and a net cash flow of $4,800 in the first year of operation.

Oren Co is confident that it can achieve its goals and objectives, as it has a clear vision, mission and values that guide its business decisions and actions. Oren Co also has a dedicated and experienced team that works hard to deliver high-quality products and services to its customers and guests. Oren Co also has a positive and optimistic attitude that helps it overcome any challenges or difficulties that it may face along the way.

Oren Co hopes that this business plan will convince potential investors and partners to support its business venture and help it grow and succeed in the outdoor event industry.

Learn how to write business plan!

Event venue business plan faqs.

Permits and licenses vary by location, but generally, you’ll need a business license, zoning permits, health and safety permits, and possibly a liquor license.

Use online platforms like your website and social media, offer competitive pricing, exceptional customer service, and network with event planners and industry professionals.

Effective strategies include having a visually appealing website, utilizing social media, collaborating with local event vendors, hosting open houses, and offering discounts for initial bookings.

Clear communication with clients, comprehensive event contracts, detailed checklists, and assigning a dedicated event coordinator or team are essential for managing event logistics.

Typical costs include rent/mortgage payments, utilities, insurance, maintenance, marketing, staff salaries, and event-specific expenses like catering and audiovisual equipment.

Quick Links

• Investor Business Plans
• M&A Business Plan
• Private Placement
• Feasibility Study
• Hire a Business Plan Writer
• Business Valuation Calculator
• Business Plan Examples
• Real Estate Business Plan
• Business Plan Template
• Business Plan Pricing Guide
• Business Plan Makeover
• SBA Loans, Bank Funding & Business Credit
• Finding & Qualifying for Business Grants
• Leadership for the New Manager
• Content Marketing for Beginners
• All About Crowdfunding
• EB-5 Regional Centers, A Step-By-Step Guide
• Logo Designer
• Landing Page
• PPC Advertising

• Business Entity
• Business Licensing
• Virtual Assistant
• Business Phone
• Business Address
• E-1 Visa Business Plan
• EB1-A Visa Business Plan
• EB1-C Visa Business Plan
• EB2-NIW Business Plan
• H1B Visa Business Plan
• O1 Visa Business Plan
• Business Brokers
• Merger & Acquisition Advisors
• Franchisors

Proud Sponsor of

• 1-800-496-1056

• (613) 800-0227

• +44 (1549) 409190

• +61 (2) 72510077

Event Venue Business Plan Guide + Free Example

July 6, 2023

Adam Hoeksema

Finding the perfect venue for an event can be a daunting task, and running the perfect venue can be even more challenging. If you are looking to start your own event venue, this demands strategic thinking, careful planning, and a sharp eye for detail. It's not just about finding the right location; it's about understanding your target market, gauging competition, predicting costs, and generating profits. Sounds overwhelming? Fear not, we have your back!

In this blog post, we will take you step-by-step through the process of creating an effective and practical business plan for your event venue business. From defining your business concept and forecasting your financials, to marketing strategies and operational plans, we will cover it all. Moreover, we've included a free, downloadable event venue business plan example to provide you with a tangible resource to guide you through your own planning process.

Whether you're an aspiring entrepreneur who's new to the industry, an experienced event planner branching out, or simply exploring the idea, this comprehensive guide and free example are sure to make your journey to launching your own event venue a bit easier. Stay with us as we delve deeper into the world of event venue businesses and empower you to bring your vision to life.

Here is what I plan to cover in this post:

• Why write a business plan for an event venue?

What to include in an event venue business plan?

Event venue business plan outline, how to analyze the competition for your event venue.

• How to Promote an Event Venue?
• How to create financial projections for an event venue
• Event venue example business plan
• Event venue business plan FAQs

With that as our guide, let’s dive in. 

Why write a business plan for an event venue? 

The primary reason to write a business plan for an event venue is because your potential investors and lenders have asked for your business plan.  I can come up with all sorts of reasons why it might be smart to write a detailed business plan, but at the end of the day, the real reason is because writing a business plan is standing in between you and the startup funding that you need.  

If you are looking to secure an SBA loan, then this general overview on how to write a business plan for an SBA loan can be helpful.  It discusses the differences between writing a standard, long form business plan versus a lean startup business plan which will typically use a business model canvas.  I think this can be some helpful background, but we want to know more specifically how to write a business plan for an event center business.  The following is the outline we use for our event venue business plan template.   

Event Venue Plan Outline

I. executive summary.

II. Business Concept

III. Market Analysis

IV. Competition Analysis

V. Marketing Strategy

VI. Menu and Kitchen Operations

VII. Service and Hospitality

VIII. Financial Plan

Startup Costs:

• Projected Financial Summary:

Annual Sales, Gross Profit and Net Profit:

Key financial ratios:, income statement:, balance sheet:, cash flow statement:.

IX. Organizational Structure

X. Conclusion

As you review our business plan template I think you will get the idea of what to include in most of the sections, but I wanted to focus on a couple of unique sections of your business and provide some tools and techniques that I think might be helpful as you try to complete a competitive analysis and marketing section of your business plan. 

In order to analyze the competition in a given market for an event venue I like to try to pull both website traffic data and physical foot traffic data .  I use a few different tools to help find this data.  

How to Estimate Website Traffic for a Competitor

To estimate website traffic for a competitor I would start by looking up their website on a tool like Ahrefs which will show us how much organic website traffic they are getting.  For this example, let’s assume that our competitor is a wedding venue and winery called The Sycamore Winery .  We can see that they receive approximately 650 organic website visitors per month:

Additionally, with Ahrefs we can see which keywords are sending them the most organic traffic.  In this example, they are getting some traffic from wedding venue related keywords as you can see below:

You can look up all of your competitors with a tool like Ahrefs and find out which ones seem to be getting the most website traffic and from which keywords.  This can help you set an SEO strategy for your venue and determine which keywords to target first.  

How to Estimate Foot Traffic for a Competitor  

In addition to website traffic, it can be really powerful to estimate the actual foot traffic that a particular location might be getting.  This can help you get some understanding of how many events and people you might be able to expect at your event venue which can be important for your financial projections.  Ultimately, the number of events and the size of those events will likely correlate directly with your revenue, so estimating foot traffic can be a secret weapon as you analyze the competition.  

Using our foot traffic report service we can see that The Sycamore Winery has roughly 3,500 visitors per month. 

The report also allows us to see foot traffic by day, so we can see how busy various days are.  This would give you some indication of how many events you might be able to forecast on the weekends and weekdays.  

With that level of detail you may know more about your competitors than they know themselves, and it can really help you understand key drivers of business for your competitors.  

How to Promote an Event Venue? 

Another aspect of your event center business plan that I think I can provide some unique guidance in is how to promote your event venue.  There are obviously a number of ways to promote your wedding event venue such as: 

• Digital Marketing : Launch a visually appealing website that features high-quality photographs and videos of your venue. Incorporate an interactive virtual tour that enables potential customers to envision their event at your venue. Utilize SEO strategies to improve your venue’s visibility on search engines.
• Social Media Promotion : Use platforms like Instagram, Pinterest, and Facebook to showcase your venue. Post photos from real weddings and other events held at your location, behind-the-scenes shots, and testimonials from happy couples. Engage with your audience by responding to comments and direct messages promptly.
• Bridal Shows and Expos : Participate in local wedding expos and bridal shows. These events are a great opportunity to network with prospective clients and other wedding vendors. Provide potential customers with a tangible feel for your venue through pictures, videos, and brochures.
• Collaborate with Wedding Planners : Wedding planners can be your strongest advocates. Develop relationships with local and regional planners, and invite them to visit your venue. They can recommend your venue to their clients if they're impressed with what you offer.
• Online Wedding Directories : List your venue on wedding directories and websites like The Knot or WeddingWire. These platforms can significantly increase your venue's visibility to couples searching for a venue.

One area I want to spend a little bit of time on is how to promote your event venue with SEO.  If you can rank well for relevant keywords it can provide you with a long term competitive advantage.  So here is what I would do.  I would use Ahrefs as I showed you above and look up your competitors websites to see which keywords are sending them the most traffic.  You will see a column called KD which stands for keyword difficulty.  You should look for relevant keywords for your venue with a low KD – keyword difficulty – these are the keywords that you have the best chance at ranking well for early on.  

Additionally, I would use the Google Keyword Planner Tool , which is free, to see which keywords have the most search volume.  For example, I can see that Indianapolis Wedding Venues has roughly 3,600 monthly searches.  Using the keyword ideas function you can see search volume for other related keywords and identify smaller niche keywords that you are most likely to be able to compete in. 

These search volume estimates give you a good idea of how large the market is and ultimately can flow right into building assumptions for your event venue financial model . 

How to Create Financial Projections for a Business Plan

Just like in any industry, the event venue business has its own set of factors that influence revenue, such as location, event demand, and pricing strategies. Utilizing an event venue financial projection template can simplify the process and boost your confidence. Creating accurate financial projections goes beyond showcasing your venue's ability to host events; it's about illustrating the financial path that leads to profitability and the realization of your vision for creating unforgettable event experiences. To develop precise projections, consider the following steps:

• Estimate startup costs for your event venue, including venue acquisition or lease, renovations or decor, permits, licenses, and initial marketing expenses.
• Forecast revenue based on projected event bookings, pricing per event, and potential revenue streams such as catering services or equipment rentals.
• Project costs related to event preparations, staffing, and other event-specific expenses.
• Estimate operating expenses like utilities, maintenance, insurance, and administrative costs.
• Calculate the capital required to launch and operate your event venue, covering initial expenses and providing working capital for sustained operations.

While financial projections are a vital part of your event venue business plan, seek guidance from experienced professionals in the event industry. Adapt your projections based on real-world insights, leverage industry resources, and stay attuned to emerging event trends to ensure your financial plan aligns with your goals and helps you create a successful and in-demand event venue.

Example Event Venue Business Plan

Presented below is the text for our sample event venue business plan. To make it easier for you, we offer a downloadable Google Doc version of this event venue business plan template here . This allows you to edit it and make it truly yours. Furthermore, we provide a video walkthrough that will assist you in tailoring the business plan to suit your unique event venue concept.

Table of Contents

Ii. market analysis, iii. product and service offerings, iv. marketing and sales strategy, v. operations and management, vi. financial projections.

Startup Costs

Financial Summary

Annual Sales, Gross Profit and Net Profit

Key Financial Ratios

Income Statement

Balance Sheet

Cash Flow Statement

VII. Conclusion

The proposed event venue is a state-of-the-art facility located in the heart of the city, catering to a wide range of events including weddings, corporate events, and social gatherings. The venue has a total capacity of 300 guests and boasts a spacious ballroom, a cozy lounge area, and a fully equipped kitchen.

The target market for the venue is the high-end segment, which is expected to generate a significant portion of the revenue. The estimated startup costs for the business are $500,000, which will be funded through a combination of personal savings and a loan from a financial institution.

The business is owned and operated by a team of experienced event professionals who have a deep understanding of the industry and a passion for creating unforgettable experiences. The team's goal is to make the venue a preferred destination for event organizers and guests alike.

The Market Analysis section provides an overview of the event venue industry and the target market.

The event venue industry has experienced steady growth over the past decade and is expected to continue growing in the coming years. The high-end segment of the market is particularly attractive due to the increasing demand for premium event experiences.

The target market for the venue includes corporate clients, wedding planners, and social event organizers. The primary customer demographics are affluent individuals and businesses located in the city, as well as those from nearby cities who are looking for a luxurious event venue.

The venue will differentiate itself from its competitors by offering a combination of exceptional service, high-end amenities, and a prime location. The venue will also leverage technology to enhance the customer experience and streamline operations, making it easier for event organizers to plan and execute their events.

The Product and Service Offerings section provides a description of the venue's features and services.

The venue has a total capacity of 300 guests and includes a spacious ballroom, a cozy lounge area, and a fully equipped kitchen. The ballroom is equipped with state-of-the-art audiovisual systems and can be configured to accommodate a variety of event setups. The lounge area is perfect for intimate gatherings and cocktail receptions, while the kitchen provides ample space for catering and food preparation.

In addition to the venue itself, the business will offer a range of services to enhance the customer experience, including event planning and coordination, catering, and lighting and sound support. The venue will also partner with local vendors to provide event decor, florals, and photography services.

The pricing for the venue will be competitive with other premium event venues in the market, with a range of packages available to meet the needs of different types of events. The pricing strategy will be based on a combination of demand and cost considerations, with the goal of maximizing revenue while delivering exceptional value to customers.

The Marketing and Sales Strategy section provides an overview of how the venue will reach potential customers and generate revenue.

The marketing plan for the venue will focus on three primary channels: digital marketing, events and promotions, and partnerships. The digital marketing strategy will include a strong presence on social media, a website optimized for search engines, and targeted online advertising campaigns. The events and promotions strategy will include hosting events and open houses at the venue to showcase its features and services. The partnership strategy will include working with wedding planners, corporate event organizers, and other local businesses to promote the venue and generate referrals.

The Operations and Management section provides a description of the venue's organizational structure and day-to-day operations.

The venue will be owned and operated by a team of experienced event professionals who will be responsible for the overall management of the business. The team includes a General Manager, an Operations Manager, and an Event Coordinator.

The General Manager will be responsible for the overall strategic direction of the business, including financial management, marketing and sales, and customer relations. The Operations Manager will be responsible for day-to-day operations, including staffing, scheduling, and vendor management. The Event Coordinator will be responsible for event planning and coordination, ensuring that each event runs smoothly and meets the expectations of the customer.

The venue will utilize a booking and event management system that integrates with the financial and operational systems, making it easier to manage bookings, track revenue, and provide excellent customer service. The venue will also have a robust staffing plan, including a team of event staff and catering staff, to ensure that each event is staffed appropriately.

All of the unique financial projections you see here were generated using ProjectionHub’s event venue  financial projection template . Use PH20BP to enjoy a 20% discount on the template. 

The Financial Projections section provides an overview of the startup costs and the financial performance of the business.

The estimated startup costs for the business are $500,000, which will be funded through a combination of personal savings and a loan from a financial institution. The startup costs include the purchase of equipment and furnishings, leasing costs for the venue, and initial marketing expenses.

Financial Summary:

Watch how to create financial projections for your very own event venue:

The Conclusion and Appendices section provides a summary of the key points of the business plan and supporting documentation.

In conclusion, the event venue business is poised for success due to the growing demand for premium event experiences, the experienced ownership and management team, and the state-of-the-art facilities and services offered. This business plan outlines a comprehensive strategy for reaching potential customers, generating revenue, and delivering exceptional value to event organizers and guests.

Event Venue Business Plan FAQs

How do i start an event venue business.

To start an event venue business, you'll need to identify your target market and niche, secure a suitable location, design and set up the venue space, obtain necessary permits and licenses, establish relationships with event planners or vendors, and create marketing strategies.

What amenities should I consider offering in my event venue?

Amenities to consider offering in an event venue include seating and furniture arrangements, audiovisual equipment, lighting and sound systems, catering facilities or partnerships, restrooms, parking or valet services, and any unique features specific to your venue.

How can I attract clients to book my event venue?

To attract clients, develop a visually appealing website and online presence, showcase your venue's unique features through high-quality photos and virtual tours, offer customizable packages, provide exceptional customer service, and establish relationships with event planners or industry professionals.

How to create pricing packages for an event venue?

Pricing models for event venues can vary, and may include hourly rates, package rates based on event duration and services, tiered pricing based on the size or type of event, or customized pricing based on specific client requirements. Research the local market and industry standards to determine your pricing strategy and if you'll include any equipment rental options.

How can I effectively manage bookings and scheduling for my event venue?

You can effectively manage bookings and scheduling by utilizing event management software or tools, maintaining an up-to-date calendar, streamlining the booking process through online forms or platforms, having clear communication channels with clients, and having dedicated staff to handle inquiries and event coordination.

About the Author

Adam is the Co-founder of ProjectionHub which helps entrepreneurs create financial projections for potential investors, lenders and internal business planning. Since 2012, over 50,000 entrepreneurs from around the world have used ProjectionHub to help create financial projections.

Other Stories to Check out

How to finance a small business acquisition.

In this article we are going to walk through how to finance a small business acquisition and answer some key questions related to financing options.

How to Acquire a Business in 11 Steps

Many people don't realize that acquiring a business can be a great way to become a business owner if they prefer not to start one from scratch. But the acquisition process can be a little intimidating so here is a guide helping you through it!

How to Buy a Business with No Money Down

Learn the rare scenarios enabling the purchase of a business with no money down and delve into the complexities of selling via seller notes, highlighting the balance of expanded opportunities and inherent risks in these unique financial transactions.

Have some questions? Let us know and we'll be in touch.

Event Center Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Real Estate Sector

Do you want to start an event center and need to write a plan? If YES, here is a sample event center business plan template & FREE feasibility report.

Event centers are in existence and thriving due to the fact that there are always various events for people – individual and businesses – to throw, from weddings, graduation parties, reunions, anniversaries, business meetings, fundraisers, dinner party and so on.

These events are usually conducted in halls that provide convenient facilities for guests than would have been achieved in a home or office. These days there are more events being thrown, which requires the use of event centers, this is why this is the best business to start for any entrepreneur. Below is one of such, a sample event center business plan;

A Sample Event Center Business Plan Template

1. industry overview.

The event center business is becoming a popular one as new event centers are opened everyday somewhere in the world. Most businesses in the hospitality industry are also leaning towards this trend by constructing multi-purpose halls or renovating existing facilities so as to be able to tap into the trend of hosting parties and conferences.

Globally according to reports, the hotel industry has also recognized the importance of having centers to host and service meetings to its revenue base and has started expanding its offer to cover these areas. This has helped to boost the bottom line for most of these hotels.

Asides hotels, educational institutions such as colleges and Universities have started focusing on increasing the number of conferences centers available to clients. Other unusual institutions such as museums, theatres, cinemas, zoos, castles, theme parks, aquaria, football stadia and racecourses, have also started making centers available to host meetings and other events.

There are new categories of venues that are now being added which create diversity to the other services in the market. These venues are unusual and are also growing in popularity as they are regarded as funky and edgy and are preferred by the younger generation, especially as they do not require overnight accommodation.

Companies are now picking brands that identify with their corporate values and brands, as this is seen as being appreciated by their customers and other stakeholders. Also, guests to these meetings are likely to see the venue as a reflection of the company’s goals.

Venues have also begun to shift towards smarter designs that not only make them accessible but smart as well which mean accommodating all kinds of transportation in order to save attendees added stress.

Venues have also seen the need to ensure that those attending events can connect with the outside world, by ensuring that connectivity is being provided for at events. This has become a priority for event centers and is one detail that clients appreciate.

Event centers are no more focusing on just providing halls for use but also adding other services as well such as catering, event coordination, wait staff, bartending, décor and rentals of several of equipment not included in contract.

2. Executive Summary

Sheldon Event Center, a leading event center is based in 3900 NW 120 St, in Urbandale – Iowa, USA. We offer unique and personalized services to all our clients domestic and corporate. We provide event coordination and offer our clients planning expertise as well as an extraordinary wait staff service, in addition to our core service which is the provision of a conducive hall to host all kinds of events.

As any other business, we have established our business not only to offer our customers an unforgettable experience but to also make profit whilst ensuring that we can favorably compete with other competitors in the same industry.

Our halls are not only conducive but also offer modern amenities that will make the guests of our clients turn into our clients. We have the best facilities and also the right people to handle these amenities. Our staffs are not only professionals with the added touch of competence but have the experience to anticipate the needs of our clients.

Our strong business structure has led us into deploying the best means of sourcing for and recruiting the best staffs for our business. We not only believe in recruiting the best but in ensuring that they are in tune with our vision and objectives and are committed to seeing us achieve our goals as a company.

We believe in ensuring that our employees are not only productive but that they remain happy whilst carrying out their tasks, it is for this reason that we have created a unique welfare package for them that is the best in the industry amongst our category.

Also, we have put in place polices that will allow for the continuous trainings of our employees in order to enhance their skills.

Our customer care service is excellent as we have those who not only have a thorough knowledge of the industry but keep informed on current trends to handle this position and therefore help inquiring clients better understand what they are seeking for.

Because we know how important our clients are, we have strategies in place that will ensure that our loyal clients get incentives which comes in form of a discount for every client they refer to us. This has made most of our clients turn into active marketers on our behalf and has grown our revenue base tremendously.

Finally, our Chief Executive Officer, Ms. Lori Sheldon has over 15 years of experience in event coordination as well as in catering. This experience in addition to several certifications in event planning will help take our business to the desired level it intends to attain.

3. Our Products and Services

Sheldon Event Center is the one stop event center that intends to offer our various customers a beautiful experience while also exceeding their expectations with the various services that we intend to offer them at our event center.

Our intention of establishing Sheldon Event Center is to make profit just like any other business and so in addition to our core service, we intend to offer other services as well so as to create multiple sources of income for our business. All our services will be offered within the permissible laws of the service industry as well as the laws of the united states of America.

Therefore some of the services we intend to offer are;

• An event center for weddings, business meetings, rehearsal dinners, holiday parties, corporate parties, and fundraisers
• Tables, chairs, China and linens rentals
• Audio/visual equipment rentals
• Event hosts and wait staff
• Consultancy services

4. Our Mission and Vision Statement

• Our vision as an event center is to exceed the expectations of our clients by giving them a beautiful experience as well as event space for all their types of special events.
• In order to achieve our vision we have the required coordination and planning expertise for all types of events, with professional and competent staff that would help make the events of our clients a memorable one.

Our Business Structure

Having the right business structure is very important to us as at Sheldon event center and so we have laid the right plans that will ensure that our foundation is not only right but stays true to our core values and vision as a company. This is why we sourced for and have hired competent professionals who are diligent and true to work ethics into the various positions we have in our company.

Our vision as a company is to ensure that all our clients’ expectations are not only met but exceeded as well. This is why all the staff which we have hired are ones that have not only identified with our vision but know what it takes to take our company from where we are at present to where we intend to and should be in future.

Our staff also have the expertise required to work in this industry and bring it to an enviable standard compared to that of our competitors.

Due to the fact that we intend to run several services in addition to our core service, we have ensured that we have the required number of staff to handle the various services which we intend to offer at Sheldon Event Center. Below is the business structure that will be built at Sheldon Event Center;

Chief Executive Officer

Facility Manager

Human Resources and Admin Manager

Marketing Executives

Customer Service Executives

Event Coordinator

Security Guard

5. Job Roles and Responsibilities

• In charge of drafting strategic policies on behalf of the organization and ensuring that it is implemented
• Drafts the budget in collaboration with the accountant on behalf of the organization
• Sources for high deals on behalf of the organization
• In charge of ensuring that the facility is ready for events whenever the needs arises
• Inspects the facilities to ensure that everything is up to standard and effects repairs when need be
• Sources for clients on behalf of the event center
• Sources for and recruits the right staff either permanent or temporary on behalf of the event center
• In charge of staff welfare and training as well as other incentives due to staff
• Ensures that all the administrative functions are conducted smoothly
• Prepares all the financial statements on behalf of Sheldon Event Center
• Ensures that balances between banks and the event center are reconciled each month
• Prepares and submit correct tax reports to tax officials on behalf of the organization
• Conducts market research on behalf of the organization in order to determine new markets
• Drafts and reviews marketing strategies to ensure that they are more effective on behalf of the organization
• Empowered to conduct direct marketing to clients on behalf of the organization
• Handles all inquiries of clients as well as bookings
• Creates and maintains an accurate customer database on behalf of Sheldon event Center
• Ensures that clients complaints are promptly attended to and resolved
• Ensures that events are coordinated according to the requirements of the clients
• Ensures that clients expectations are not only met but exceeded positively
• Coordinates with other staff to ensure that event is a success
• Ensure that the premises is kept secure especially during events
• Monitors the security cameras during events to prevent security mishap
• Provides security tips to all staff so as to enable them carry out their jobs better
• Ensures that they deliver our supplies and also pick up same as at when due
• Carry out light maintenance on the vehicle and ensure that it is in good condition
• Carry out other duties as might be assigned by the administrative manager
• Ensure that the premises are kept clean before and after an event
• Ensure that the convenience for staff, clients and their guests is kept clean at all times
• Ensures that cleaning supplies are adequately stocked and replaced as at when due

6. SWOT Analysis

Like every successful business out there, we intend to ensure that our event center is of the required standard whilst also offering the best services and so to ensure that we attain this, we hired a reputable business consultant here in Urbandale _ Iowa, to help us critically look through our business concept and determine if we had what it takes to become a standard company.

Due to our request, the hired business consultant had to use the SWOT analysis in taking stock of our strengths, weaknesses, opportunities and threats to determine how we were likely to fare in the industry fare in the industry here in Iowa and in the whole of the United States of America as a whole.  Below is the result of the critical analysis conducted on behalf of Sheldon Event Center;

Our strength lies in the fact that we offer diverse services that will meet any requirements by our clients, which allows us stand apart from our competitors. Also, we have professional and competent staffs at hand to ensure that every event no matter the kind is conducted smoothly.

Our halls are not only well designed but also convenient as well as we also have the grounds for customers who want an outdoor ceremony. Finally, the expertise of our Chief Executive Officer, Ms. Lori Sheldon who not only has amassed several years of experience but also has several qualifications, is another of our strength at Sheldon Event Center.

This industry is saturated with these kinds of businesses; however, we intend to stand apart from our competitors by offering unique services that will attract the customers and offering excellent customer care that will retain most of our customers.

• Opportunities

There are various opportunities that abound for us because the halls can be converted to any kind of event that intends to be hosted by our clients. We also can cater to religious bodies who intend to use our halls for regular meetings.

There are various threats that exist to every business in general, and so the probability of facing threats is not alarming to us. The threats we are likely to face in the course of starting and running the business are the off-peak periods, where there are less likely events to be thrown.

We however have come up with other services that will generate income for us during these periods. Another threat is having a major competitor offering same services in the same location. We have proactive measures in place that will ensure that we remain unique and different in all the services that we would be offering.

7. MARKET ANALYSIS

• Market Trends

Every month there is an event of some sort that is being thrown, which makes having an event center one of the best businesses for any entrepreneur to go into. It should however be noted that this industry have peak periods such as during the middle and end of the year where more events are thrown than during any other times in the year.

Therefore any entrepreneur going into this business must be conversant with the peak and off peak periods in the industry so as to be able to accordingly make proactive plans that would be strategic for the growth of the business.

What most event centers have started incorporating into their core services is the addition of other services – such as catering, bartending, professional wait staff, event coordinator – that will make it easier for their clients who are planning for an event; this would ensure that clients do not have to bother about contracting others for these services, therefore creating more income for these event centers, whilst also allowing them to gain a huge share of the market.

Event centers that do not offer such services are now few but they however are in contact with professionals that run such services thereby making it easy for clients, who do not wish to have to source for these extra services themselves.

Finally, the advent of technology especially the internet has upped competition amongst event centers and also caused most to review the services offered so as to be amongst the industry leaders.

Every event center now has a website that not only point to all the services they offer but also show the clients attractive pictures of the center so as to attract more clients to patronize their services. Also, social media platforms such as Instagram and Facebook are being used to effectively market to clients.

8. Our Target Market

The target market for this industry is quite huge as there are events that are being thrown every now and then consisting of different types of crowd, which makes for a huge customer base for event centers.

Therefore, our event center cannot be restricted to just hosting weddings, parties, fundraising and business meetings but it can host any event that our client deems worthy to celebrate or carry out. Our strategic location in Iowa has offered us ample opportunity to be able to tap into the target market.

However, we intend to conduct a market research in order to fully understand our target market and know what they expect from us, this will help us properly draft the strategies that would be needed to attract more customers to our business.

From the result of our market research, we have found that we are in business to offer our wide range of services to the following groups of people;

• Business organizations
• Government agencies
• Non-profit organizations
• Religious bodies
• Educational institutions
• Financial institutions
• Celebrities

Our competitive advantage

Whilst starting Sheldon Event Center, we intend to ensure that our business is not only established to make profit but is also able to compete favorably with our competitors in the industry. Our vision is to ensure that we not only meet but exceed the expectations of all the clients that make use of our event center and our services, and this is one of our competitive advantages against our competitors.

Our event centers have modern and conducive facilities such as 4 room options that have various capacities of 30 to 500 guests, thereby giving our clients varied options in terms of picking something suitable for their event.

Another competitive advantage we have is the fact that we have an individual event coordinator that will help coordinate the events of clients’ throughout the duration of the event, thereby allowing our client have a stress-free event.

Asides, the event coordinator, we also have a professional wait staff that have the experience of handling different kinds of occasions that will crop up at our event center. All our staff project and communicate our brand all the time by giving excellent customer service to our clients regardless of events or packages.

Another competitive advantage we have is our décor service which is also part of the services we offer. We go beyond the average décor and give our clients a wonderful experience that is best experienced.

Finally, we are the best at caring for our employees as we offer the best salaries and welfare packages in the whole of Iowa within our category as a start-up event center in the industry. We also ensure that our employees undergo training that will enable them become better and more productive for our business.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Sheldon Event Center has been established to offer our clients a full range of services for their events with the aim of maximizing profits for our business in the service and hospitality industry in the United States of America. We have different other services that are not only intended to generate income but also to be able to cater to all the needs of our different clients.

Therefore, Sheldon Event Center will generate income by offering the following services;

10. Sales Forecast

This industry is one that will never dip as there are always events that are usually conducted every now and then, thereby resulting in the booking of event centers.

Our location in Urbandale – Iowa has us quite optimistic in that we will not only met our set revenue generating target in the first year but that we will make marginal profit that will allow us grow our business and eventually expand it during the second year.

However, to be able to make a factual sales projection, we have been able to take a critical look at the industry in order to analyze our chances and come up with a sales forecast that we can use to adequately plan and draft strategies for our business.

The sales projection was however gathered based on information and assumptions that were peculiar to event center start-ups here in Urbandale – Iowa. Therefore below are an accurate sales projection for Sheldon Event Center based on the location of our business and several other assumptions;

• First Fiscal Year-: $250,000
• Second Fiscal Year-: $500,000
• Third Fiscal Year-: $900,000

N.B : The above projection was done based on what is obtainable in the industry, and also on several assumptions such as an arrival of a major competitor in same location, as well as a continuous and steady economic growth, within the period of the above projections.

Should there be any change in the assumptions either positively or negatively, it is likely to affect the above stated figures, causing an increase or a decrease.

• Marketing Strategy and Sales Strategy

The event center business just like any business will require marketing in order to not only create awareness for the business but to also ensure that revenue is generated to keep the business going.

To draft effective marketing strategies that will bring the best results for Sheldon event Center, we conducted a market survey that allowed us privy to information that will enable us to not only penetrate the market and attract the right customers but also compete favorably with other top event centers here in Urbandale – Iowa.

We have also hired the services of a reputable marketing consultant, who understands the business and industry well to help us achieve our intended marketing goals and objectives. The marketing consultant will look at what strategies will be more effective for us in the short and long run.

Our marketing teams have been empowered to look through the strategies and ensure that they align with the company’s core values and will communicate our brand positively to customers. Our marketing teams have also been empowered to review, tweak and remove strategies that are considered ineffective on behalf of the company.

We know how important the internet especially as regards improving the effectiveness of marketing. We intend to build an interactive website that will show our attractive halls and other services to clients, especially potential ones. Our social media platforms will also be used to target our customers online and generate interest about our event center.

Therefore the following are the strategic measures we will adopt at Sheldon Event Center to market our various services;

• Visit corporations and government agencies to formally introduce our event center and all the services we offer
• Throw a unique themed party when we open our business in order to generate interest and create awareness about our vent center
• Advertise our event center in local newspapers, magazines as well as on radio and television stations
• Engage in direct marketing
• Ensure that our business is listed in online and offline directories
• Use social media platforms such as Instagram, Facebook and Twitter as well as our website to market our event center

11. Publicity and Advertising Strategy

Publicity is a very important process for any business that intends to create awareness in the industry. Even though we offer the best and unrivaled services here at Sheldon Event Center, we intend to continue to publicize this so that our customers – existing and potential as well as our competitors can be aware of what we are offering. In publicizing our event center, we intend to explore all means that will allow us gain the awareness we seek.

Publicity and advertising is a two edge sword because not only does it make a business gets noticed, it also serves as a means of generating revenue for the company. This is why our publicity and advertising strategies will be drafted with a publicity consultant so that we not only advertise and increase our awareness but also effectively communicate our brand.

Therefore, below are the various platforms, we intend to use in publicizing and advertising Sheldon Event Center;

• Ensuring that we place adverts in local newspapers, magazines as well as on radio and on television stations
• Writing free columns for the local newspapers that are focused on event centers
• Allowing one non-profit organization have a free slot every quarter of the year
• Ensure that we use social media platforms like Instagram, Facebook and Twitter to vigorously promote our business
• Distribute our handbills and paste our fliers in target and conspicuous areas
• Install our bill boards on strategic locations all around Urbandale – Iowa

12. Our Pricing Strategy

When it comes to the rates we intend to charge for our services, we have come up with a pricing strategy that will meet with the budget of our clients here in Iowa. There are different packages and categories with varying rates available for all our different clients and we have ensured that each package is not only affordable but will meet and exceed the needs of all our different clients.

In a bid to raise awareness and also attract customers to our business, we intend to offer our customers a discount for the first three months of business. We have ensured that the discounted rates we will offer our clients will in no way allow us run at a loss even though we might be operating on a low profit margin for the duration of the discounted prices.

• Payment Options

Due to evolving technologies, we at Sheldon Event Center understand that there are varied payment options that our clients would prefer, and we have come up with different payment platforms that will be suitable for our different clients;

Below are the payment options that will be made available to our clients;

• Payment by check
• Payment via credit card
• Payment via online payment portal
• Payment via Point of Sale (POS) Machine

The above payment options were careful chosen by us and will run without any form of hitches or inconvenience to our clients.

13. Startup Expenditure (Budget)

Starting an event center can be quite demanding especially at the initial stage, where one is expected to spend the bulk of capital on certain on certain aspects in order to ensure that the event center is up to standard. Most of the bulk of the capital usually goes to securing a hall and then equipping the hall to certain standards for clients.

Also, start-up capital is usually used to sustain the business by paying salaries of employees and certain bills until the business is able to generate the revenue that will allow it sustain itself. Therefore the key areas where we intend to spend our start-up capital are;

• Total business incorporation fees in the United States of America – $750
• Other legal expenses as well as obtaining of accounting software and licenses – $1,250
• Cost of hiring a business consultant – $1,500
• Insurance coverage (property insurance, general liability and workers’ compensation) – $2,000
• Cost of leasing a facility for a year and carrying out renovations – $70,000
• Operational cost for the first 3 months (salaries of employees, bill payments) – $100,000
• Marketing promotion expenses (for grand opening as well as general marketing expenses) – $3,000
• Other start-up expenses (stationery, furniture, computers, printers, and phones) – $10,000
• Cost of start-up inventory (cutleries, linens, napkins, china and glassware) – $10,000
• Cost of purchasing a van – $20,000
• Cost of launching a website – $500
• Cost of throwing a grand opening party – $3,000
• Miscellaneous – $8,000

From the above analysis, we would need the sum of at least $230,000 in order to successfully start and run our event center business in Urbandale – Iowa. The amount above includes leasing of the facility for use as well as paying the salaries of employees for at least 3 months.

Generating Funding / Startup Capital for Sheldon Event Center Business

Sheldon Event Center is a local business owned and financed by Ms. Lori Sheldon. Ms. Sheldon does not intend to seek for external investors in running or financing her business, hence her reason for restricting the sources of income to just 3 sources;

The three areas where the start-up capital will be generated from are;

• From personal savings and sale of stock
• Soft loan from family members and friends
• Loan from commercial bank

N.B: Sheldon Event Center has been able to generate $30,000 from the personal savings of Ms. Sheldon. $15,000 was gotten from family members and friends and the business is at its final stage of obtaining the sum of $185,000 from the bank.

As it stands all the necessary documents have been signed and the amount will likely be credited to the business account any moment from now.

14. Sustainability and Expansion Strategy

Every business that is established to make profit intends to use such profit in sustaining itself and possibly expanding based on the vision and objective of the company. Our sustainability and expansion strategy at Sheldon Event Center is drafted in such a way as to ensure that we continue in the business for a long time to come.

Firstly, we intend to ensure that we hire only competent and professional staffs that fully understand our core values as a company as well as the industry. Also, our staffs have the required expertise to ensure that our business is taken to the level it should be.

To keep our employees happy and productive, we intend to ensure that we provide a conducive working environment, have great welfare packages for them and also ensure that they undergo training every now and then that will not only enhance their skills but make them more productive for the company.

We intend to offer various services at our event center so as to be able to build a revenue base that will sustain us and ensure that we do not constantly go to seek for loans to be able to run the business. Our various services will also make us stand out from our competitors whilst ensuring that we have a healthy bottom line.

Finally, we intend to retain a high percentage of our clients by ensuring that we offer them the best customer service by our trained customer executives.

Asides offering excellent customer care, we also intend to ensure that clients that refer us get an incentive and that repeat clients get a discount. These are the strategies we intend to apply in sustaining and expanding our event center business.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting feasibility studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
• Purchase of trucks: Completed

Related Posts:

• Landscaping Business Plan [Sample Template]
• Serviced Apartment Complex Business Plan [Sample Template]
• Property Maintenance and Renovation Business Plan [Sample Template]
• Home Inspection Business Plan [Sample Template]
• Shopping Mall Business Plan [Sample Template]

Product Overview

• Donor Database Use a CRM built for nonprofits.
• Marketing & Engagement Reach out and grow your donor network.
• Online Giving Enable donors to give from anywhere.
• Reporting & Analytics Easily generate accurate reports.
• Volunteer Management Volunteer experiences that inspire.
• Bloomerang Payments Process payments seamlessly.
• Mobile App Get things done while on the go.
• Data Management Gather and update donor insights.
• Integrations
• Professional Services & Support
• API Documentation

Learn & Connect

• Articles Read the latest from our community of fundraising professionals.
• Guides & Templates Download free guides and templates.
• Webinars & Events Watch informational webinars and attend industry events.
• DEI Resources Get DEI resources from respected and experienced leaders.
• Ask An Expert Real fundraising questions, answered.
• Bloomerang Academy Learn from our team of fundraising and technology experts.
• Consultant Directory
• Comms Audit Tool
• Donor Retention Calculator
• Compare Bloomerang
• Volunteer Management

Conference Planning: A Step-by-Step Checklist for Success

Great Fundraising Events: From Experience to Transformation.

Conferences are an important part of professional development and business networking for all industries. Bringing people together from all around the world in the same industry to learn and share is essential for innovation. A successful conference can come in all shapes and sizes, from 200 people over a weekend to 15,000 for a week.

Bloomerang Volunteer has had the privilege of working with many conferences, some of which are the largest in their industry. Through this, Bloomerang Volunteer understands the complex logistical challenges and planning that go into setting up a conference for success. Planning a conference can be a large undertaking, but this step-by-step checklist will help ensure whatever you plan will be a success.

Table of Contents

Getting started: 8-12 months out, ramping up: 4-8 months out, building excitement: 1-4 months out.

• The Weeks Before Your Conference

After the Conference

There is a lot of planning that goes into an in-person conference event. That’s why it is so important to start your conference planning process well in advance. It is helpful to review your successes and shortcomings from your last conference and use that information to help inform your planning this time around.

Task #1 – Establish your goals and objectives.

To plan and execute an amazing conference or corporate event, you need to first decide specifically what you are trying to accomplish. Ask yourself what type of conference attendee you want to attract, as well as how you can make sure the conference relates to your brand. What kind of value do you want to provide, and which organizations and speakers would make ideal partners for your event?

In order to do this, you need to answer some basic questions:

• What do you want the takeaway to be?
• What will people learn from your conference?
• Who is your target audience?
• Does your event need to turn a profit? If so, what is that profit target?
• How much will tickets cost?
• What charitable work will your conference do?
• Where will your event take place?
• How many people will attend your event?

By answering these questions, you will begin to see a clear picture of your conference objectives and the foundational elements needed to make it a success.

Task #2 – Choose a format and theme.

Your conference’s format and theme will form the basis of your attendees’ and sponsors’ experiences at your conference. As such, you should choose a theme that will attract your target audience and shine the spotlight on your brand. Your theme should be apparent to attendees and coherent throughout the event.

Here are a few conference themes to spark some ideas:

• Destination Innovation
• Journey To The Top
• Partners In Progress
• Mission Possible
• Back To The Future

Once you have a theme to act as your guide, the next step in the conference planning process is to decide your conference format. There are so many event formats to choose from, and you can also combine formats to deliver a unique experience for your attendees.

Here are a few formats that you can incorporate in your conference:

• Large Seminars
• Industry Panel Discussion
• Workshop Session
• Round Table
• Speed Networking (Like Speed dating)
• Gamification Sessions

Whatever format(s) you select for your conference, it is important to consider what will make your event stand out from your competitors. The more memorable and impactful your conference is, the greater success it will have for years to come.

Task #3 – Set your budget.

Now that you have a clear idea of what kind of conference you will be planning, the next step is to establish a budget to make it all happen. There are so many line items that make up a conference budget so it is important to account for all of them and then some for incidentals along the way.

Establishing Your Fixed Costs

There are many fixed costs in conference planning that will inevitably make up the most considerable portion of your event budget. These costs are not typically affected by the number of attendees at your event — they are what they are.

Examples of fixed costs are:

• Event Venue
• Equipment (AV tech)
• Licenses and Permits

Establishing Your Variable Costs

There are a lot more variable costs than fixed ones when it comes to conference planning. Variable expenses are all the extra things that depend on your number of attendees, marketing costs, and all the extra touches that make your event unique.

Examples of variable costs include:

• Meals per attendee
• Marketing and advertising
• Social event cost
• Shuttle or transportation service
• Event staff & volunteer management software
• Print materials
• Giveaways and speaker gifts

Once you have a clear understanding of all the line items required to make your conference a success, you can begin to establish your conference budget. Don’t forget to allot some extra money for any last-minute expenses that come up along the way.

Now that you have a clear idea of what your conference is and all the activities you will have for your attendees, it’s time to start planning how you are going to deliver those incredible experiences.

Task #4 – Choose a location and set a date

There is no conference without a venue and date. So now it’s time to get that all sorted out so you can begin planning your logistics. A great conference needs a great venue. If you are new to organizing conferences, ask other organizers what venues have worked for them for past events.

When you have found a potential venue, ask yourself:

• Is this venue accessible?
• Is it close to suitable accommodations?
• Will attendees find parking easily?
• Is the size suitable for the audience size you imagine?
• Does the venue have availability for the preferred event date?

Most of the time, an event date is determined by a venue’s availability. However, if the date is more important than the venue, you will need to prioritize finding a venue that accommodates that date. Once you have your venue/location and date set, it’s time to rally the troops to make this event happen.

Task #5 – Recruit a team of volunteers

Every good conference needs a team of dedicated individuals to keep things running. Rather than hire an entire crew to do this for your conference, why not use volunteers ? Many attendees would love to volunteer some of their time for a reduced conference ticket, or students would love to participate if they’re looking at getting involved in the industry post-graduation.

Volunteers are an essential part of most of the largest conferences in the world. So why not try to recruit some help from motivated individuals. Bloomerang Volunteer management software has helped conferences recruit, schedule, manage, and communicate with volunteers.

Getting started is simple; you just have to create a custom branded volunteer sign-up form and post it to your conference website. From there, interested volunteers can sign up directly for shifts they are qualified to work.

Here is an example of how volunteer management software can make an impact:

“ Social Media Marketing World went from an event with only 50 staff to more than 200 staff. There were 4,500 attendees, more than 600 shifts worked, and over 4,000 hours worked. Event manager Jaci Feinstein summarized the experience by saying, “Bloomerang Volunteer is worth every dollar to be able to streamline and better manage, communicate, organize your volunteers. It allows you and your volunteers to focus on what is really important.”

Task #6 – Book speakers and vendors.

Now it’s time to book all those people and organizations that will make your conference a memorable experience. You have likely created a list of desired speakers and vendors for your event. Now it’s time to secure those people for your event.

Booking Your Speakers

You will want to secure a few keynote speakers that are well known, as well as other speakers who can offer their expertise to your attendees. Securing your main speakers is incredibly important because you can’t effectively build your event schedule and marketing plans without them.

Booking Your Vendors

Your vendors are the people who will ensure that attendees are comfortable, fed, and entertained, so you must select the best vendors possible. There are many vendors to secure for your event, from Wifi providers and caterers to equipment rentals and attendee software. It is important to keep track of each vendor’s contract and deliverables to ensure there are no surprises when they start work.

Task #7 – Search for sponsors.

Sponsors are a huge source of revenue to help offset initial event costs. Corporate sponsorship is a common practice for industry conferences; often, industry vendors will be looking to sponsor events. To attract sponsors, it is important to establish all the various events and material available for sponsorship and then create sponsorship packages for your team to send to your list of ideal sponsors.

Remember that sponsors should be getting measurable value out of their money, so make sure to include numbers in your packages. The more successful the event is for your sponsors, the more likely they will be eager to contribute more next year.

Now it’s time to get everyone excited about your event. This is when to start sharing all the amazing things you have planned for your event to attract attendees and more volunteers to your conference.

Task #8 – Build your website.

Many event producers will choose to build an event-specific website for marketing and attendee registration. Other companies will simply add event specifics pages to their existing corporate website. Whichever way you choose, all the information an attendee, vendor, or volunteer needs must be available and easy to find online.

Here are some core pieces of information you need on your website:

• Event date and location
• Key speakers and activities
• Ticket and registration portal with payment gate
• A volunteer page with online registration
• Vendor and sponsorship information

Task #9 – Promote your event.

Now it’s time to start promoting your event to your network and to your target audience. What makes your event stand out from the crowd? Take that unique sales proposition and use it as a core pillar in all your marketing efforts .

When creating your marketing materials, it is important to use your theme and brand to stand out and create material in any medium . For example, a video on social media and YouTube can go a long way but so can a great graphic in an email. The more you have to work with, the more channels you can market in.

In today’s market, it is very important to use multiple channels to market your event. Here are marketing channels to promote your event:

• Email marketing to your network
• Social media channels
• Industry publications
• Paid social ads

Be consistent with posting and make sure to drive people to your registration and volunteer signup forms. By spreading the word as widely as possible, you’ll get your conference in front of more people, directly impacting event attendance.

Task #10 – Draft a schedule.

As you fill speakers slots and seminar hosts, keep a draft version of your schedule. Your event schedule is a key tool for you and all your stakeholders, like vendors and volunteers . Your schedule will change, but as your conference approaches, it is important to make your conference schedule available so everyone else has to make plans around it.

The Week Before Your Conference

As your event approaches, it’s time to make sure everything is all in place, and everyone knows what they need to do to set up your conference and ensure its success. This phase of conference planning is critical and will require a lot of last-minute adjustments and patience. Everyone on your team as well as all your speakers, vendors, and volunteers must have all the information they need to their best work.

Task #11 – Send Final Reminders.

As the conference approaches, it is vital to ensure everyone is meeting important deadlines and milestones. This is when reminders communications come in handy for everyone. Make sure to keep people updated on your event’s progress and any changes that need to be made to the schedule.

As for your vendors, sponsors, and volunteers, you will need to be in contact with a lot during the last few weeks leading up to the event. Consider assigning a staff member for each group, and ask them to keep their group updated on all the information and changes that can affect their job. Good communications will ensure the event setup goes smoothly.

Task #12 – Give your volunteers the final rundown.

Now that you have assembled an amazing team of volunteers, it’s important to equip them with all the training and tools they need to thrive. Volunteers should be trained on general safety regulations and receive specific training concerning the roles and responsibilities they will be tasked with during the event.

This is the time to ask your volunteers to download the volunteer app from your volunteer management software to access their personal volunteer schedule and event documents. This app should also allow them to check-in to shifts and communicate directly with their supervisor. Your volunteers are the people that will be the face of your event, so the better equipped they are, the better they can ensure your attendees have a great experience.

Once your conference is over, there are still some things to accomplish to ensure you set up next year for success. It is so important to document and track all the successes you had and any shortcomings that arose during your event. The more you learn, the more you can improve.

Task #13 – Survey your audience.

There is no way to tell if your attendees had a good time without asking them. This is when an online survey can help you learn how your event did. Create an online survey that asks questions about specific topics like location, food, session and speakers, and general feelings about your conference. All the problems in your survey should help you better understand how you can improve your event.

The survey should be distributed no more than a day or two after your conference. You want to ensure that your event is still fresh in everyone’s mind to collect the most accurate information possible.

Task #14 – Share any follow-up resources.

There was a lot of information and resources made available to your attendees throughout your conference, but some of those resources may inevitably be lost or forgotten. Make sure to share any event-specific resources and videos with your attendees through email and social channels shortly after your conference. You naturally want everyone to receive the maximum value from your event, so this extra effort can go a long way.

Now it’s time for you to start planning a fantastic event. This article should simply act as a jumping-off point for your conference planning. Bloomerang Volunteer can help you deliver a specular conference by helping you build an outstanding team of skilled, loyal & committed staff and volunteers. To learn more, click here to take a tour or explore the list of resources below.

See How Bloomerang Can Have a Bigger Impact on Your Mission!

Get the free guide!

Exclusive Resources

Related Articles

How to write a business plan for a business center?

Creating a business plan for a business center is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating a business center business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for a business center?

• What information is needed to create a business plan for a business center?
• What goes in the financial forecast for a business center?
• What goes in the written part of a business center business plan?
• What tool can I use to write my business center business plan?

Having a clear understanding of why you want to write a business plan for your business center will make it simpler for you to grasp the rationale behind its structure and content. So before delving into the plan's actual details, let's take a moment to remind ourselves of the primary reasons why you'd want to create a business center business plan.

To have a clear roadmap to grow the business

Running a small business is tough! Economic cycles bring growth and recessions, while the business landscape is ever-changing with new technologies, regulations, competitors, and consumer behaviours emerging constantly.

In such a dynamic context, operating a business without a clear roadmap is akin to driving blindfolded: it's risky, to say the least. That's why crafting a business plan for your business center is vital to establish a successful and sustainable venture.

To create an effective business plan, you'll need to assess your current position (if you're already in business) and define where you want the business to be in the next three to five years.

Once you have a clear destination for your business center, you'll have to:

• Identify the necessary resources (human, equipment, and capital) needed to reach your goals,
• Determine the pace at which the business needs to progress to meet its objectives as scheduled,
• Recognize and address the potential risks you may encounter along the way.

Engaging in this process regularly proves advantageous for both startups and established companies. It empowers you to make informed decisions about resource allocation, ensuring the long-term success of your business.

To anticipate future cash flows

Regularly comparing your actual financial performance to the projections in the financial forecast of your business center's business plan gives you the ability to monitor your business's financial health and make necessary adjustments as needed.

This practice allows you to detect potential financial issues, such as unexpected cash shortfalls before they escalate into major problems. Giving you time to find additional financing or put in place corrective measures.

Additionally, it helps you identify growth opportunities, like excess cash flow that could be allocated to launch new products and services or expand into new markets.

Staying on track with these regular comparisons enables you to make well-informed decisions about the amount of financing your business might require, or the excess cash flow you can expect to generate from your main business activities.

To secure financing

Whether you are a startup or an existing business, writing a detailed business center business plan is essential when seeking financing from banks or investors.

This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.

Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.

Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.

To do so, they will be looking for evidence that your business center has the potential for healthy growth, profitability, and cash flow generation over time.

Now that you understand why it is important to create a business plan for a business center, let's take a look at what information is needed to create one.

Need a convincing business plan?

The Business Plan Shop makes it easy to create a financial forecast to assess the potential profitability of your projects, and write a business plan that’ll wow investors.

Information needed to create a business plan for a business center

Drafting a business center business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for a business center

Carrying out market research before writing a business plan for a business center is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

Your market research might reveal that there could be a demand for new services such as virtual office space or conference room rentals. It might also indicate that customers may be looking for more flexible space solutions, such as coworking or hot desking.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your business center.

Developing the sales and marketing plan for a business center

Budgeting sales and marketing expenses is essential before creating a business center business plan.

A comprehensive sales and marketing plan should provide an accurate projection of what actions need to be implemented to acquire and retain customers, how many people are needed to carry out these initiatives, and how much needs to be spent on promotions, advertising, and other aspects.

This helps ensure that the right amount of resources is allocated to these activities in order to hit the sales and growth objectives forecasted in your business plan.

The staffing and capital expenditure requirements of a business center

Whether you are starting or expanding a business center, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

Staffing costs for a business center might include wages for receptionists, administrative staff, and technical support personnel. Equipment costs for a business center might include computers, printers, copiers, and other office supplies.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.). 

Once you have all the necessary information to create a business plan for your business center, it is time to start creating your financial forecast.

What goes into your business center's financial forecast?

The objective of the financial forecast of your business center's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for a business center are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a business center shows how much revenue and profits your business is expected to generate in the future.

Ideally, your business center's P&L statement should show:

• Healthy growth - above inflation level
• Improving or stable profit margins
• Positive net profit

Expectations will vary based on the stage of your business. A startup will be expected to grow faster than an established business center. And similarly, an established company should showcase a higher level of profitability than a new venture.

The projected balance sheet of your business center

The balance sheet for a business center is a financial document that provides a snapshot of your business’s financial health at a given point in time.

It shows three main components: assets, liabilities and equity:

• Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
• Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.

Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your business center's liquidity and solvency:

• Liquidity: assesses whether or not your business has sufficient cash and short-term assets to honour its liabilities due over the next 12 months. It is a short-term focus.
• Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.

Looking at the balance sheet can also provide insights into your business center's investment and financing policies.

In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).

The projected cash flow statement

A cash flow forecast for a business center shows how much cash the business is projected to generate or consume.

The cash flow statement is divided into 3 main areas:

• The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
• The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
• The financing cash flow shows how much cash is raised or distributed to investors and lenders

Looking at the cash flow forecast helps you to ensure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

It is also a best practice to include a monthly cash flow statement in the appendices of your business center business plan so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan, also known as a sources and uses table, is a valuable resource to have in your business plan when starting your business center as it reveals the origins of the money needed to establish the business (sources) and how it will be allocated (uses).

Having this table helps show what costs are involved in setting up your business center, how risks are shared between founders, investors and lenders, and what the starting cash position will be. This cash position needs to be sufficient to sustain operations until the business reaches a break-even point.

Now that you have a clear understanding of what goes into the financial forecast of your business center business plan, let's shift our focus to the written part of the plan.

Need inspiration for your business plan?

The Business Plan Shop has dozens of business plan templates that you can use to get a clear idea of what a complete business plan looks like.

The written part of a business center business plan

The written part of a business center business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

The executive summary, the first section of your business center's business plan, serves as an inviting snapshot of your entire plan, leaving readers eager to know more about your business.

To compose an effective executive summary, start with a concise introduction of your business, covering its name, concept, location, history, and unique aspects. Share insights about the services or products you intend to offer and your target customer base.

Subsequently, provide an overview of your business center's addressable market, highlighting current trends and potential growth opportunities.

Then, present a summary of critical financial figures, such as projected revenues, profits, and cash flows.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Lastly, address any funding needs in the "ask" section of your executive summary.

2. The presentation of the company

In your business center business plan, the second section should focus on the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide an overview of the business's legal structure, details about the owners, and their respective investments and ownership shares. This clarity is crucial, especially if you're seeking financing, as it helps the reader understand which legal entity will receive the funds and who controls the business.

Moving on to the location part, you'll offer an overview of the company's premises and their surroundings. Explain why this particular location is of interest, highlighting factors like catchment area, accessibility, and nearby amenities.

When describing the location of your business center, you could emphasize its proximity to major highways and other transportation links, as well as potential customers. You may also want to highlight the access to a highly skilled workforce, as well as the availability of quality resources. Additionally, you could point out the potential for growth in the area, as well as the potential for your business center to become a hub for businesses in the area. This might convince a third party financier of the potential of your business center and its strategic location.

Finally, you should introduce your management team. Describe each member's role, background, and experience.

Don't forget to emphasize any past successes achieved by the management team and how long they've been working together. Demonstrating their track record and teamwork will help potential lenders or investors gain confidence in their leadership and ability to execute the business plan.

3. The products and services section

The products and services section of your business center business plan should include a detailed description of what your company sells to its customers. 

For example, your business center might offer customers the use of a shared workspace, printing services, and meeting rooms. This can enable customers to have access to resources and professional tools that they may not have access to otherwise, such as high-speed internet, printers, and other equipment. It also provides them with the opportunity to meet with colleagues and clients in a professional space.

The reader will want to understand what makes your business center unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When you present your market analysis in your business center business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your business center, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your business center aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include busy professionals who travel frequently for work. They need a place to meet with colleagues, print documents, and have access to a conference room or other amenities. These customers value convenience and quality when it comes to business centers as they are often pressed for time and need to maximize their efficiency.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your business center.

5. The strategy section

When crafting the strategy section of your business plan for your business center, it's important to cover several key aspects, including your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, clearly explain what sets your company apart from competitors. This is particularly critical if you're a startup, as you'll be trying to establish your presence in the marketplace among entrenched players.

The pricing strategy subsection should demonstrate how you aim to maintain profitability while offering competitive prices to your customers.

For the sales & marketing plan, outline how you plan to reach and acquire new customers, as well as retain existing ones through loyalty programs or special offers.

In the milestones subsection, detail what your company has achieved thus far and outline your primary objectives for the coming years by including specific dates for expected progress. This ensures everyone involved has clear expectations.

Lastly, in the risks and mitigants subsection, list the main risks that could potentially impact the execution of your plan. Explain the measures you've taken to minimize these risks. This is vital for investors or lenders to feel confident in supporting your venture - try to proactively address any objection they might have.

Your business center could face a number of risks. For example, there may be a risk of a data breach, which could result in financial loss and reputational damage. Additionally, your business center could face the risk of equipment failure, which might lead to disruption in the business operations and could cost money and time to repair.

6. The operations section

In your business plan, it's also essential to provide a detailed overview of the operations of your business center.

Start by covering your team, highlighting key roles and your recruitment plan to support the expected growth. Outline the qualifications and experience required for each role and your intended recruitment methods, whether through job boards, referrals, or headhunters.

Next, clearly state your business center's operating hours, allowing the reader to assess staffing levels adequately. Additionally, mention any plans for varying opening times during peak seasons and how you'll handle customer queries outside normal operating hours.

Then, shift your focus to the key assets and intellectual property (IP) necessary for your business. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, make sure to include them in this section.

You could have a key asset such as a good location, which could attract customers and give your business center a competitive advantage. Additionally, your business center might have intellectual property (IP) such as business plans, customer lists, or marketing materials, which could help you stand out from the competition.

Lastly, include a list of suppliers you plan to work with, detailing their services and main commercial terms, such as price, payment terms, and contract duration. Investors are interested in understanding why you've chosen specific suppliers, which may be due to higher-quality products or established relationships from previous ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of a business center business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my business center's business plan?

In this section, we will be reviewing the two main options for writing a business center business plan efficiently:

• Using specialized software,
• Outsourcing the drafting to the business plan writer.

Using an online business plan software for your business center's business plan

The modern and most efficient way to write a business center business plan is to use business plan software .

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Need a solid financial forecast?

The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.

Hiring a business plan writer to write your business center's business plan

Outsourcing your business center business plan to a business plan writer can also be a viable option.

Business plan writers are skilled in creating error-free business plans and accurate financial forecasts. Moreover, hiring a consultant can save you valuable time, allowing you to focus on day-to-day business operations.

However, it's essential to be aware that hiring business plan writers will be expensive, as you're not only paying for their time but also the software they use and their profit margin.

Based on experience, you should budget at least £1.5k ($2.0k) excluding tax for a comprehensive business plan, and more if you require changes after initial discussions with lenders or investors.

Also, exercise caution when seeking investment. Investors prefer their funds to be directed towards business growth rather than spent on consulting fees. Therefore, the amount you spend on business plan writing services and other consulting services should be insignificant compared to the amount raised.

Keep in mind that one drawback is that you usually don't own the business plan itself; you only receive the output, while the actual document is saved in the consultant's business planning software. This can make it challenging to update the document without retaining the consultant's services.

For these reasons, carefully consider outsourcing your business center business plan to a business plan writer, weighing the advantages and disadvantages of seeking outside assistance.

Why not create your business center's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write a business center business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my business center business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

• Word processors don't include instructions and examples for each part of your business plan
• Word processors don't update your numbers automatically when they change in your forecast
• Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating a business center business plan for some entrepreneurs, it is by far not the best or most efficient solution.

• Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
• A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
• A business plan has 2 main parts: a financial forecast outlining the funding requirements of your business center and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your business center business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

• How to write a business plan to secure a bank loan?
• Key steps to write a business plan?
• Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing a business center? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

Create a convincing business plan

Assess the profitability of your business idea and create a persuasive business plan to pitch to investors

500,000+ entrepreneurs have already tried our solution - why not join them?

Not ready to try our on-line tool ? Learn more about our solution here

Need some inspiration for your business plan?

Subscribe to The Business Plan Shop and gain access to our business plan template library.

Need a professional business plan? Discover our solution

Write your business plan with ease!

It's easy to create a professional business plan with The Business Plan Shop

Want to find out more before you try? Learn more about our solution here

Conference Planning Checklist: The Ultimate Guide To Success

Many things go into planning a great conference. Conferences cost money to execute, and if you are like many event planners, you probably got funded by sponsors. Aside from personal losses, you lose credibility with stakeholders when conferences fail. When the stakes are high, like in this scenario, the only acceptable outcome of your conference must be a success.

Therefore, your conference planning needs a tested and trusted template for success. Our conference planning checklist is the ultimate guide to ensure a successful outcome for every party involved.

The outstanding feature of our ultimate conference planning checklist is that it separates the planning stages into the pre-event, ongoing, and post-event phases. While the pre-event and ongoing phases of conference planning help you plan a memorable event, the post-event phase allows you to gather data for planning next year’s conference.

• Introduction

Conference Planning Checklist: The Different Stages

The pre-event planning stage.

• The Ongoing Stage 4.1 Step 1: Select a Theme for the Event 4.2 Step 2: Envision the potential experience that your attendees will have 4.3 Step 3: Appoint a team and delegate roles 4.4 Step 4: Decide the date, venue, and budget 4.5 Step 5: Book the right venue 4.6 Step 6:  Go in for a  conference technology that works best for you 4.7 Step 7: Arrange for speakers 4.8 Step 8: Make arrangements for all that you need 4.9 Step 9: Plan a Conference agenda 4.10 Step 10: Look into the promotional aspect of the event 4.11 Step 11: Make last minute preparations within the budget 4.12 Step 12: Stick to the timeline
• The Post-Event Planning Phase

Key Takeaway

Let’s look at the different stages of conference planning and the role they play in making your conference a success.

The different stages of conference planning can vary depending on the size and scope of the conference. Conference planning typically involves:

a) Defining the conference goals b) Identifying a target audience c) Selecting a venue d) Developing a conference program and event’s schedule e) Marketing and promoting the conference f) Registering attendees g) Coordinating logistics (e.g., transportation, accommodation) h) Managing finances (e.g., budgeting, invoicing, payment processing) i) Evaluating the conference after it has taken place

That is why, it is helpful to create a conference planning checklist to ensure that all of these tasks are completed in a timely and organised manner.

Keeping that in mind, your conference or event planning checklist can be predominantly divided into three different stages – the pre-event planning stage, the ongoing stage, and the post-event planning stage.

The pre-event planning stage of our checklist shows preliminary information you need to enable you to launch into the actual event planning from an informed standpoint.

• Determine the intent of the event – what is your end goal?

First, you must have goals and objectives that drive your passion for the conference. Determining your goal in black and white empowers you to identify the planning decisions supporting its accomplishment. Making a beautiful plan when you are unsure about what you hope to accomplish leaves you confused about whether you succeed.

• Design a measurable way to determine if your conference was a success or not

After you have determined your goal, the next pre-event planning you need to make is to decide how you will measure the extent of success. You need more than just choosing your goal; you need a practical way to measure how well you succeeded by the end of the conference.

• Who is your target audience?

This question urges you to think of your event as a product and your audience as your customers. But how can you make sales if you don’t know your customers? Knowing who your audience is, helps you make the rest of the planning to target their interests. 

The audience controls the possible ROI realizable from your conference, whether monetary or otherwise. Knowing who they are, empowers your conference marketers to frame your event promotions in a way they would find attractive.

The Ongoing Phase 

The ongoing phase of our conference planning tips is a step-by-step guide you can implement to guarantee the success of your event after the pre-event planning stage above.

Step 1: Select A Theme for The Event

Choosing conference themes is a functional as well as a marketing decision. As you know, conferences and events are not tangible products. The theme or taglines you give may be why it succeeds. Essentially, your theme should embody what you know your audience wants. 

The best themes are usually catchy, and the wording highlights the main points that would attract the interest of your target audience. The trick to constructing a good theme is to ensure it ends as a punchy phrase or sentence without being ambiguous. The choice of words must be easily recognizable by your target audience, and they must understand it as a direct solution to their need.

Sometimes, you may need to add a tagline to enhance the saleability of your theme, but you have to apply the same principle when constructing it too.

Step 2: Envision the potential experience that your attendees will have

When you can imagine the experience your audience hopes to take away from your conference, it becomes easier to plan for their satisfaction. Imagine how marketing your conference can become a piece of cake if you know precisely what the attendee experience should be.

Envisioning the potential attendee experience is seamless, especially if you already have a data bank of feedback from previous conferences. If you need such information, you can leverage Eventible’s reviews of similar conferences to generate the expectations of your target audience.

However, it would help to remember that while envisioning your audience’s potential experience is good for planning, it must align with the end goal you stated in the pre-event planning stage.

Step 3: Appoint a team and delegate roles

Every conference has aspects that need teams to ensure they go smoothly. From administration to logistics, each planning unit must be undertaken by professionals in the field to guarantee success. Of course, some aspects of the event, like logistics and accommodation, may open the opportunity to find ideal sponsors , but you also need a team to execute this plan.

Some roles your team needs include;

• Administration

The admin team brings synergy to the activities of every other team to ensure that their role performance complements each other for the event’s success.

This team oversees the selling of the event to your target audience. 

This team handles procurement and setting up all you need at the event venue.

• Physical planning : This team handles booking and organizing the event venue and accommodations for the attendees.

Step 4: Decide the date, venue, and budget 

Precision comes into conference planning when you have a conference schedule in place with important details like date, venue, and event budget in place. Your teams cannot do a little with these details in mind. These details can help your marketing team generate an efficient strategy to sell the event to the target audience.

Step 5: Book the right venue

Even with the advent of virtual and hybrid events, the venue still has a significant bearing on the outcome of your conference. Some attendees may lose interest in your conference if the choice of virtual platform needs more features to buy their engagement. Your choice of venue can make marketing easier or harder. Some factors to consider when choosing a venue include the following:

You have to work with your budget. There is always the best venue for your budget, and your physical planning team can find it in time for your marketing campaign.

The comfort of your in-person audience is non-negotiable. Even in a low-budget location, ensuring that your venue has a comfortable atmosphere is easy.

Consider how far your audience is willing to travel to attend your conference. Marketing your event will be challenging if the location is off the grid.

Step 6:  Go in for a  conference technology that works best for you

Think of the conference tech as the virtual venue. What features does conference management software offer? How is the navigation or user experience? How long can it hold the engagement of your virtual attendees, or would it limit their full participation?

Step 7: Arrange for speakers

Speakers and the information they have are the primary resources at every conference. You have to book them early enough, as they are essential elements your marketing team can use to sell your conference. Some speakers are known thought leaders, and the only information some attendees need to make up their minds is to know the speakers that would feature at your event.

Step 8: Make arrangements for all that you need

This step is about arranging for the finer details like catering and other services. Your logistics team may have a lot of responsibility in this step.

Step 9: Plan a Conference agenda

Aside from bringing order and a seamless flow to the event progression, creating an agenda serves every stakeholder differently. For instance, if your event is 3-day, a speaker scheduled on the last day may not necessarily have to come on the first day. The agenda also helps your attendees prioritize the topics based on their peculiar interests.

Step 10: Look into the promotional aspect of the event

If your event involves ticket sales, you can measure the potential outcome of the event from the number of tickets sold. Marketing is indispensable for every conference, even if the end goal is not a monetary ROI. 

Promotion is about selling the event to your target audience. Interestingly, whether your event is internal or external, you still need to convince your audience that there is no other place they would be than at your event on the stated date and time.

The best way to promote your event/conference is to create a conference website. You can also devise a conference app, which is a great way to share last-minute vital information with potential conference attendees and participants through push notifications. The trick to promoting every conference lies in communication. Determine the language that appeals to your audience, and you will have them by the hook.

Step 11: Make last-minute preparations within budget

This step mainly falls on the admin team to check every aspect of the planning to ensure everything is intact. This general check ranges from logistics to reconfirmation of arrangements with speakers and other stakeholders involved in the planning. These last-minute preparations also ascertain that every detail is within the budget allocated to it. 

Step 12: Stick to the timeline

The thing about setting conference dates and times for each item on the agenda is that other stakeholders make their plans around it. Insisting on the timeline eliminates the risk of losing your audience and inconveniencing other stakeholders. When you stick to the set timeline, it ensures you deliver every value as expected. It also helps you realize the highest satisfaction for the audience and other stakeholders.

The Post-event Planning Phase

The post-event planning phase involves making arrangements to ensure you capture all the feedback you need for evaluation after the conference. This could be preparing the event survey questions for the conference stakeholders to submit feedback . 

Reviews and feedback collection, especially from the attendees, help you make more strategic plans for the subsequent conference/event planning process. Eventible is a perfect platform with years of industry experience collating reviews on event attendees, speakers, and sponsor experiences.

Also, post-event planning ensures that you can effectively measure the outcome of the event against your goal to determine the extent of success. It also helps you generate innovative ways to track the attendees for future conferences. This would facilitate the marketing ahead of time.

The reason for conference planning is to guarantee the satisfaction of your attendees and realize your goals. Eventible’s ultimate conference planning checklist above is a reliable tool to guide you step by step as you plan your next event. We generated this comprehensive conference planning checklist from our in-depth experience, collating event reviews from conference attendees and other stakeholders. Care to leverage our expertise to know about the best conferences to attend this year ? Visit our website and read our reviews.

Speaker’s Corner: Featuring Ivan Kuzlo, Engineering Director, CHI Software

Speaker’s Corner: Featuring, Mehul Suri, Head of Programmatic, Publicis Sapient

Related posts, top 5 it events for q1 (january to march) 2024, plenary speaker vs keynote speaker – understanding the difference, 7 tips for making the most of event psychology.

Comments are closed.

Alison Bensch

Senior director of global events, cloudinary, proudest of.

In both cases, we had to figure out how to take what are historically in-person events and translate them into engaging virtual experiences with a team of just two in-house event marketers, counting myself.

ImageCon is our flagship customer summit. In 2021, more than 1,700 people across 107 countries registered for the two-day event, which included 20 virtual sessions designed to help retailers unleash the full potential of their visual media.

Our hosted event series included about 8 virtual events across North America and EMEA markets. To drive up attendance and engagement, we hosted unique virtual cooking and mixology classes, wine tastings, tequila pairings, and more, with celebrity chefs and bartenders such as Marcus Samuelsson, Julio Cabrero, and Amanda Freitag.

Rockstar Mode

ImageCon was a success, in part, because we secured high-quality speakers and focused on providing true value to attendees by creating sessions to optimize their usage of the Cloudinary platform to improve their business. We featured customers in the content by doing customer spotlights. We also improved the production level of the summit by partnering with an agency.

I am proud we were able to pull off a high-quality event of this scale while managing 30 other events for the year.

Prior to the pandemic, our hosted event series consisted of in-person dinners and intimate happy hours. We wanted to recreate these virtually, without making them feel like webinars. We succeeded, in part, because we invested in high-quality talent to attract participants and create fun, memorable moments we probably could not have pulled off in-person.

We also took pains to make the events as easy as possible to attend, for example, by mailing guests meal kits or drink kits with everything they needed to participate. Of course, everything was branded, right down to the salt and pepper. We know our attendees’ time is precious, so we encouraged them to involve their family and were sure to include enough food and/or drink to share.

After the experience, we broke out into small groups, allowing people to network with peers and Cloudinary team members, who led discussions on relevant industry topics. Thus, attendees topped off a great culinary or cocktail experience with valuable learnings that could help their business. In fact, I see us continuing with some of these virtual events even after we have resumed in-person ones.

Our on-demand event content is now a powerful sales enablement tool for our sales team, who share session recordings with prospective customers, as well as existing ones who are considering adding on a new capability. We will continue to measure the performance of this content.

For the hosted events, we evaluate success by measuring pipeline acceleration. So, we consider where event guests are in their consideration process before attending the event. We use the event, and event follow-up, to help move the prospect or customer to the finish line. We usually see prospects who engaged in marketing campaigns were more likely to close, and close faster, than those who did not attend an event.

While this is harder to measure, we know our event series keeps the Cloudinary brand top of mind and deepens our relationship with customers. We document the positive feedback we receive from attendees and sales reps for internal use and marketing purposes.

Survivor Mode

Another challenge was creating an event strategy against a backdrop of so much uncertainty. I have seen industry colleagues invest resources in planning in-person events, only to have to rejigger in the final hour. I made the decision from the onset of the year to plan for virtual events, given our small team and resources. This allowed us to create more effective and engaging virtual events from the start and maximize our budget.

Nothing beats in-person events, and I am excited to be moving forward with these in 2022. But I plan to continue with digital and hybrid events, as well, for a number of reasons. When done right, they can be more memorable than in-person ones, and certainly more convenient. They also allow me to engage people across a wider geographic region (all of Europe for example or across the US), which leads to cost-savings and unique and widened interactions for our attendees.

Annie Yuzzi VP

Global corporate events and experiences, sumo logic, bethany roskin murphy, director of global events, drift, charlene kate ditch, founder, charlene kate events, gabrielle d., global events director, automation anywhere, gerilynn marburger, director, global events, hewlett packard enterprise, hollie ashby, senior manager, cxo and third party events, palo alto networks, lindsey cohen, director- event marketing, snyk, ceo & chief event strategist, liz king events, nicola kastner, vice president, global head of event strategy, sap, rachel russell, field marketing manager, even, samantha calle, associate director, xandr, margaret shaeffer, head of field marketing & events, linearb, traci depuy, head of global events, salesforce, dale rickert, global conference head of greentech festival, matthew lin, head of marketing, beetc, emilie watrob, head of event marketing, zs, katherine leong, director, corporate events, gainsight, sr. director, marketing technology (brand and events), salesforce, karim youssef, creative director, dpw, elizabeth thomas, head of global events, elastic, gerry schneider, vp events at wearedevelopers, director, global events at hewlett packard enterprise, mike kalyan, event and seminar marketing manager, shrm.

LOVE EVENTIBLE?

Disclaimer: If you choose to provide us with your email address or any other personally identifiable information, we will use it only to send you our newsletter or respond to your query.

Choose from These 13 Corporate Conference Floor Plans to Get the Most Out of Your Guests

The room layout you choose for an event can have a significant effect on its success. The right set up facilitates the flow of traffic around the event, helps people feel more comfortable, and encourages collaboration and discussion. There are many conference set up options, so what choices work best in different situations?

What Are Your Room Layout Options?

Some aspects of event planning are more difficult than others. While deciding on a room layout might seem to be one of the easy parts, it’s harder than it seems. When you’re planning a multi-room event, it gets even more difficult. Why? Because room layout doesn’t only depend on the function of the room. It also depends on the number of attendees you’re expecting, the number of people you expect to use each room at any time, and how they’ll be using them.

This means you have several factors to consider. In addition to the function and layout of each room and the total number of guests, there’s also:

• Traffic flow
• Event schedule
• The nature of the event itself

There are several conventional and widely used room layout options. They’re suitable for a range of corporate functions, including conferences, training and education sessions, corporate parties, and other events. There are also non-traditional layouts that provide alternatives to the traditional versions.

1. Theater Style

In the theater floor plan, chairs are arranged in straight horizontal rows in front of a staging area. The staging area may be an actual stage, a panel, conference table, or other focal point. Generally, the staging area is situated at one end of the room, and rows of chairs extend towards the opposite end.

When to use it: This is a useful style when trying to fit the maximum number of people into a room for a performance, lecture, presentation, or panel discussion. It’s not a good fit when you need a layout that encourages discussion and collaboration.

2. Classroom Style

The classroom style is similar to the theater-style room. The difference is that in the classroom style, rows of attendees sit at chairs and tables or desks. A room that’s laid out in the classroom style won’t fit as many people as it would in theater style.

When to use it: Desks provide space for note-taking and computer use, as well as room for refreshments. This style works for conferences, training sessions, and tests, for instance. It can also be useful when you want to encourage small-group collaboration; however, it’s not always as good for this purpose as boardroom- or world-café set ups.

3. Boardroom Style

In the boardroom style, chairs are positioned around a single square or rectangular table. The table should be small enough that every seated person can comfortably talk with anyone else at the table.

The main purpose of the boardroom style is to encourage collaboration and interaction between participants. This is why the size of the table is important. If it’s too large, it inhibits collaboration, either because there are too many people or because the table is too large to allow everyone to talk comfortably.

When to use it: This style is perfect for business meetings, brainstorming sessions, and smaller training groups. It’s also a great conference room layout for breakout sessions.

This is like the boardroom style, but chairs are positioned only on three sides of the main table. The fourth side is open and faces a second smaller table.

The U-shape is great for small-group settings with a session leader or facilitator. The leader uses the smaller table, and attendees are grouped at the main table. This ensures everyone can comfortably talk to everyone else, and with the facilitator.

When to use it: Use this conference floor plan for facilitated discussions, such as meetings, small conference set ups, debates, education sessions, and workshops.

5. Cabaret Style

Chairs are placed in a half-moon arrangement around circular tables. The tables themselves are positioned in front of a staging area, such that everyone can see that area without having to turn around. The main downside of this set up is that up to half the table space is wasted, since people are sitting only on one side.

When to use it: Cabaret style is useful for meal events where presentations are to be made; for instance, award ceremonies, full-day workshops, and banquets featuring entertainment.

6. Banquet Style

In in the banquet style, chairs are arranged around circular tables. The tables are arranged at intervals around the room, leaving enough space in between for movement. This is more efficient than the cabaret style, as it allows maximum capacity for each table.

When to use it: Banquet style is best used for sit-down meals and evening events that don’t have an awards or entertainment component . It’s not a good fit if attendee focus is consistently drawn to a particular part of the room. This forces some people to sit in an inconvenient or uncomfortable position.

7. Reception/Cocktail Style

When attendees are encouraged to mingle freely, a reception- or cocktail-style floor plan works well. This generally means that refreshment tables are placed around the outside of the room, along with a small number of chairs. Standing-height tables can also be added to provide places for attendees to stop for discussion. The layout is kept as open as possible for freedom of movement.

When to use it: The reception style is best used for social and networking events.

Non-Traditional Layouts Can Improve on Conventional Styles

The seven traditional layouts outlined above aren’t the only possibilities! There are ways to modify these arrangements to make them work for other purposes. Some alternate arrangements include:

1. Clusters

This is an informal alternative to banquet style, where a small number of tables are placed in a random configuration across the room. It allows people to sit, stand, and move around as they like. This can be an effective substitute for a reception-style layout, providing plenty of room for movement, as well as seating for those who prefer it. It’s also good for conference breakout sessions.

2. Herringbone

This modified classroom or theater layout arranges chairs in angled, staggered rows in front of the staging area. It takes up more room than the traditional layouts but makes discussion and collaboration a little easier.

3. Open Circle

Chairs are arranged in a circle, with no other furniture used. With a good leader, this can be excellent for team-building and discussions, as there’s literally nothing standing in the way of open communication.

4. World Café Style

In this format, square or round tables are arranged at regular intervals. Tables are smaller than in banquet or cabaret style, seating around four people. It’s good for training, networking, and other group sessions, and it allows people to move freely from table to table.

5. Mixed-Use Seating

This option provides a mixture of different table sizes, including standing tables, along with different seating arrangements. Anything goes, including bean bags or inflatable furniture if that works for your company culture. Informal meetings, team-building, workshops, and retreats can work in this format.

6. Walking Floor Plan

This is less of a layout and more of an open room. It’s the most appropriate style for an exhibition floor plan or any situation where you need plenty of empty space for tables, displays, and exhibits. Add small groupings of chairs around the perimeter, so people can sit for discussions, as needed.

The Right Layout Is One Key to a Successful Event

So much thought goes into planning an event , it’s easy to overlook how important room layout really is. It’s only when you see how many options there are for a corporate event or conference set up that you understand why the right layout can make such a difference. As you search for the perfect venue , keep this list handy, and try to visualize a few conference floor plans that you like in the venues you’re vetting. With an effective layout, everyone gets more out of your event, including guests, attendees, and your company.

ProGlobalEvents

• Virtual Events
• ProExhibits Achieves Remarkable Milestone: 11th Consecutive Year in Event Marketer’s Fab 50
• Introducing Jack Connolly, the New Creative Director at ProGlobalEvents

Successful Event Marketing Strategies: Examples and Best Practices

Want to Narrow Down the Perfect Venue for Your Next Event? Do These 7 Things

• Event Planning Tips
• Event Technology
• Press Releases
• Tradeshow Tips

Jack Connolly

Executive Creative Director

As an experiential creative director, Jack prefers to draw outside the lines. He tells stories with original content and impactful design to ignite meaningful conversation.

Jack brings 20 years of event industry knowledge to ProGlobalEvents. He specializes in building live & virtual platforms for audiences to connect, engage and immerse themselves in the power of a shared experience. His skills range from ideation and concept development to defining an attendee journey through storytelling and design.

Jack understands the creative process is not linear, but a collaborative process between agency and client. He manages teams of designers and technology developers to pioneer impactful brand experiences. His diverse skillset and leadership ensure for award-winning results and memorable impressions.

In 2019, BizBash named Jack one of the top event designers in North America. SXSW awarded his work the “People’s Choice in Innovation” in 2021.

Jerome Nadel

Chief Marketing Officer

Jerome Nadel is Internationally experienced design-led marketing executive (CMO and GM) with a track record of improved market position, revenue growth, and M&A. He is an advance degreed psychologist and user experience product/service design expert, board member and advisor.

Prior to joining ProGlobalEvents |ProExhibits |XtendLive, he has had a variety of chief marketing officer and chief user experience officer roles at companies including Rambus, BrainChip, Human Factors International, SLP InfoWare, Gemplus, and Sagem. He started his career in the IBM Human Factors Labs.

He is also an avid cyclist with National and multiple California State Champion titles.

Ivan Fujihara

Chief Financial Officer

Ivan brings 25+ years in senior level management experience from a variety of technology industries.  His background includes accounting management, analytics and audit management for technology companies.  He has worked with companies such as THX, Ltd, Recruitology , Double Click, Creative Labs and more.  Ivan has also served on the board of Lincoln Families, a non-profit that supports East Bay children with the objective of disrupting the cycle of trauma and poverty.

Vice President of Sales

Matt is a marketing professional and has been managing marketing strategies, campaigns and environments for a diverse client base for over 15 years. From a service perspective, Matt and his team of Account Executives focus on fostering relationships to uphold a greater than 99% customer satisfaction rating year-over-year. Additionally, with extensive experience on the client-side of the industry, he understands that alignment between expectation and budget is paramount to a successful project. As a result, ProGlobalEvents' clients can expect a competitive advantage paired with top quality products and services. Matt is an avid fly-fisherman, enjoys most outdoor activities and is a true college football fanatic.

VP of Operations

Heading the fabrication side of ProGlobalEvents is exhibit and event industry veteran, Tom Foley. For over 35 years he has been responsible for building amazing exhibits and environments for clients. Tom started out in the production area and has broad experience in project and operations management. He currently oversees production, warehouse, graphics and project management departments. Tom studied machine tool technology and welding before entering the industry. As a true "builder" he also enjoys restoring and modifying classic American cars.

Dick Wheeler

Dick serves as President of ProGlobalEvents and President of ProExhibits and is a board member of CEMA (Corporate Event Marketing Association). At ProExhibits he has been nationally recognized as an innovator and driving force in the fast-growing trade show exhibit and event industry. Under his leadership in 1997, the firm received INC magazine’s INC 500 award as one of America’s fastest-growing companies. His informative articles on developments and innovations in the trade show exhibit and event industry have appeared in national trade publications. Dick has a B.S. degree from Wittemore School of Business & Economics at the University of New Hampshire and has completed the Entrepreneurial Executive Leadership Program sponsored by MIT, YEO and INC. He is actively involved in Vistage, an interactive group of over 20,000 CEO’s and presidents worldwide and is a member of CEMA and EDPA.

Chief Executive Officer

In addition to being CEO of ProGlobalEvents, Jody is also the CEO of ProExhibits. With Jody at the helm, the company has been recognized repeatedly as one of the Top 50 Women Owned Businesses in Silicon Valley. She has set the outstanding client service standards for which the firm’s account management team is noted. Jody is a recipient of the YWCA’s Tribute to Women Award, the Junior League Community Volunteer Award and is listed in Who’s Who of Women in Business. Following her graduation from California Polytechnic State University in San Luis Obispo, Jody held various sales positions in several technology companies.

Leaked presentation reveals Microsoft's astounding plan to ramp up data-center capacity for the AI boom

• Microsoft's data-center capacity jumped in recent quarters, a leaked internal presentation shows.
• The company is planning even faster data-center growth in the coming quarters.
• Microsoft delivered "record-level GPU capacity," according to the presentation.

Microsoft significantly expanded its data-center capacity recently and plans to ramp up growth to astounding levels going forward, according to an internal document obtained by Business Insider.

Since July 2023, the start of Microsoft's latest fiscal year, the company delivered more than 500 megawatts of new data-center capacity , the document disclosed.

This document was part of a confidential slide deck from the company's Cloud Operations and Innovation team that was presented earlier this year.

Under the heading "Commercial Cloud and AI Demands: Fueling our Expansion," the document said Microsoft surpassed 5 gigawatts of total data-center installed capacity in the first half of its latest fiscal year.

The rise of generative artificial intelligence and huge foundation models is fueling a new data-center boom . Microsoft is leading the way through its partnership with OpenAI , the startup behind ChatGPT and GPT-4 .

These AI models need to be trained on mountains of data and then fine-tuned intensely. That takes thousands of GPUs and a pile of other related gear that's housed in huge data centers. These facilities use so much power that their capacity is measured in megawatts and gigawatts of electricity.

Shaolei Ren , an electrical and computer engineering professor at the University of California, Riverside, said Microsoft's 5 gigawatts of installed data-center capacity, if fully used, would be equivalent to Hong Kong or Portugal's annual electricity consumption.

"Astonishing speed"

It doesn't stop there. The software giant laid out even more radical growth plans for its data-center empire in the document obtained by BI.

Related stories

"With a strong Commercial Cloud business, our goal is clear," Microsoft said in this part of the slide presentation.

Microsoft wants to double new data-center capacity in the second half of its fiscal year. This runs from early 2024 to the middle of this year.

In the first half of Microsoft's 2025 fiscal year, which runs from early July through the end of 2024, the company aims to "achieve 3x growth" in new data-center capacity.

This requires Microsoft to deliver more than 200 megawatts in data-center capacity every month.

"This is an astonishing speed," Ren told BI. "This is a very large data-center capacity."

Ren said Microsoft's capacity plans suggested the company was either seeing huge demand or simply wanting to stay competitive by securing future power capacity that otherwise might be taken by competitors.

He added that this also raised questions about the environmental consequences of adding such a large data-center footprint, given the carbon emissions and water consumption of the facilities.

A Microsoft spokesperson declined to comment.

'Record-level GPU capacity'

The company is also securing a record number of GPUs to handle new AI workloads in data centers.

In the second half of last year, Microsoft delivered "record-level GPU capacity," more than doubling its total installed GPU base, the document said, without mentioning actual numbers.

Microsoft's GPU footprint expanded into 39 additional data centers in this period, and the company now has "AI clusters" live in 98 locations globally.

Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram ( +1-650-942-3061 ) or email ( [email protected] ). Reach out using a nonwork device. Check out Business Insider's source guide for other tips on sharing information securely.

Axel Springer, Business Insider's parent company, has a global deal to allow OpenAI to train its models on its media brands' reporting.

Watch: How tech layoffs could affect the economy

• Main content

PMQs latest: Yousaf denies he's victim of plot - as pre-elections PMQs leaves lots to be desired

Rishi Sunak faced Keir Starmer at the final PMQs before this week's pivotal local elections. It comes as a Tory mayor seeking re-election shuns the prime minister in his campaign literature - instead relying on the endorsement of Boris Johnson.

Wednesday 1 May 2024 14:40, UK

Please use Chrome browser for a more accessible video player

• First illegal migrants bound for Rwanda detained
• Johnson tells voters to 'forget about the government'
• Sam Coates: I've got to apologise after today's PMQs
• Yousaf denies he was victim of plot to oust him
• Scottish government facing vote of no confidence
• Contest for new first minister explained | Why Yousaf resigned
• Local elections:  All you need to know about this week's votes
• Live reporting by Charlotte Chelsom-Pill

By Faye Brown , political reporter

The fact a failed asylum seeker volunteered to go to Rwanda demonstrates that claims the country is not safe are "untrue", Kemi Badenoch has said.

The business secretary also declared there is no "cost-free option" on border security, as she defended the "minimal" price tag of sending migrants there.

An unnamed man was sent on a commercial flight to Rwanda on Monday after being offered up to £3,000 in financial aid to help with relocation costs.

He is the first person to have moved to the east African country under a voluntary returns scheme for those who have gone through the asylum process and had permission to stay in the UK rejected.

This voluntary scheme, which was widened to include Rwanda earlier this year, is separate from the government's controversial plan to forcibly deport those arriving via small boats in the English Channel to the African country - a policy that came into law last weekfollowing two years of setbacks.

Critics have branded the voluntary removal an "extortionate pre-election gimmick" and a "con" that "won't stop the boats".

However, speaking on Sky News, Ms Badenoch sought to paint it as a victory for the government's wider migration policy, saying: "I'm pleased that we've finally seen one person going to Rwanda.

"Yes, this is under the voluntary scheme, but this also shows the point about Rwanda not being safe to be untrue because people are volunteering to go."

Read more here:

Boris Johnson is "welcome" to campaign for Conservative candidates, the prime minister's spokesperson has said, as Sky News reveals the Tory mayor of the West Midlands is sending voters an endorsement from the former prime minister. 

Sky's deputy political editor Sam Coates says Andy Street's campaign team is sending out literature with pictures of him and Mr Johnson, which openly admits problems with the Conservatives' reputation ( see post at 11am ).

Meanwhile, his campaign website makes no mention of Rishi Sunak on its homepage and is coloured in green rather than Conservative blue. 

West Midlands race 'very important'

Sam says it suggests the mayor is trying to run on his credentials as an independent campaigner rather than under the unpopular Tory brand.

Asked how the prime minister feels about northern mayors appearing to distance themselves from him, while highlighting an alliance with Mr Johnson, the spokesperson said "of course we would welcome" Mr Johnson's involvement in any campaigns.

"When you look at the absolute mess that Labour have made of Birmingham City Council, pretty much driven it to bankruptcy, it's no surprise that Conservatives think this race is, absolutely, very important." 

The other candidates in the West Midlands are:

• Siobhan Harper-Nunes, Greens;
• Richard Parker, Labour;
• Sunny Virk, Lib Dems;
• Elaine Ruth Williams, Reform;
• Akhmed Yakoob, independent.

By Tim Baker , political reporter

Officers have raided the homes of the first people to be deported to Rwanda.

It comes following the recent passing of the Safety of Rwanda Act, which declared the central African nation safe following concerns raised by the Supreme Court last year.

A video released by the Home Office showed officers entering homes and bringing out people detained in handcuffs, before putting them in the back of secure vans.

According to the government, "operational teams within the Home Office have been working at pace to safely and swiftly detain individuals in scope for relocation to Rwanda, with more activity due to be carried out in the coming weeks".

It comes after a failed asylum seeker voluntarily chose to go to Kigali once their application to stay in the UK failed.

The Rwanda plan has been a major policy for the Conservative government since April 2022, but has faced repeated legal challenges.

The government has previously said it has 2,200 "detention spaces", alongside 200 new caseworkers and 500 "highly trained escorts" ready.

It added that planes have been booked, with flights set to take off in nine to 11 weeks' time.

Outgoing first minster Humza Yousaf has told Sky News the SNP and independence movement would be harmed by a leadership contest becoming toxic.

The departing leader said he has "reflected" on his role in last year’s bruising campaign and urged any future candidate to "talk up" the other rather than "talk down".

Mr Yousaf, who is refusing to get drawn into the future direction of the SNP, said any suggestions of him being forced out of office to make way for John Swinney were "complete and utter rubbish".

Speaking to Sky News, the outgoing leader refuted suggestions independence was further away than ever before but admitted the "road to independence is more challenging…there's no getting away from that".

Mr Yousaf said the party still had “around 70,000” members but admitted he hadn't checked the numbers in recent months.

The week has kicked off with a huge political story - the resignation of Humza Yousaf - and will end with another, as voters across England and Wales turn out for the local elections.

Sky's political reporter Alexandra Rogers   has looked ahead to a potentially defining night for Rishi Sunak's premiership, when hundreds of council seats, police and crime commissioner jobs, and mayoral posts will be up for grabs.

Read her full explainer below:

PMQs has come to a close - and even enthusiasts like our deputy political editor Sam Coates struggled a bit with this week's session.

You certainly wouldn't have guessed it was the final Sunak-Starmer face-off before some critical local elections - it was a PMQs lacking for "passion" and any "razzmatazz".

"It was very pedestrian," admits Sam, saying he has to apologise to viewers who had every right to expect more.

"The only thing that made me laugh was the Speaker at the beginning going, 'who's banging on the furniture?! They'll have to pay for the damage!'

"That's the closest we got to wit."

Sam notes one moment where, under questioning from Sir Keir, the prime minister refused to rule out scrapping the winter fuel allowance.

But the best exchange for Sam involved Stephen Flynn, the Westminster leader of this week's "most troubled party of all" - the SNP.

He asked about the deployment of UK forces to the Middle East to help US forces distribute aid in Gaza - and Mr Sunak didn't rule it out.

Stephen Crabb, the Tory MP for Pembrokeshire, is up next.

"Thousands of my constituents have lived with foul polluted air," he says, pointing to a local landfill site operated by a business.

"[That] company is owned by somebody with previous convictions for environmental crimes and who a few months ago gave £200,000 to help Vaughan Gething become first minister of Wales."

He also mentions a £400,000 loan given to another of the businessperson's companies by the Bank of Wales, which he says was overseen by Mr Gething as economy minister at the time. 

"Does the prime minister agree with me that this serious matter demands an independent investigation?"

Rishi Sunak says the case is "an incredibly important issue".

"I know that people in Wales are concerned about the relationship that he mentions and I also agree with him on the need for transparency and an investigation regarding the Welsh Labour leader, because it's very clear that the situation is not at all transparent and answers are needed."

The UK has "no legal obligation to accept returns of illegal migrants from Ireland", Rishi Sunak declares after a question from the DUP politician Carla Lockhart.

Referring to the Safety of Rwanda Act, which became law last week, he says "it's no surprise that our robust approach to illegal migration is providing a deterrent".

Ireland's prime minister has insisted the UK must respect an existing arrangement between the two countries to take back asylum seekers.

Simon Harris told Sky News yesterday that the UK must honour the deal, in place since 2020, as the row escalated over the Irish government's new plans to return to the UK asylum seekers who cross the border from Northern Ireland.

His comments came after Ireland's deputy prime minister and foreign secretary Micheal Martin said the threat of deportation to Rwanda was causing "fearful" migrants to head for Ireland instead of the UK.

You can read more on that row here:

By Gurpreet Narwan, political correspondent

With Israel determined to launch an offensive in Rafah, Gaza's southernmost city, the prime minister was pushed on the UK's position on a plan that has raised global alarm.

Against the backdrop of increasingly tense protests and counterprotests on US campuses, Mr Sunak was pushed on levels of humanitarian aid going into Gaza and the UK's ongoing arms exports to Israel. 

The prime minister held firm, pointing out that Israel has "a right to defend itself" and talked up UK efforts to get aid into Gaza.

It's a tense issue for Labour too, and the party could pay the price at the ballot box tomorrow, especially in constituencies with large Muslim populations.

"Our coast has taken a battering," the prime minister is told by Tory MP Peter Aldous as he asks about funding for infrastructure to protect coastal communities. 

Mr Sunak says almost £1bn of levelling up funding has been allocated to the east of England, including £75m for "coastal places".

He says he will secure a meeting between Mr Aldous, the MP for Waveney in Suffolk, and the relevant minister to discuss how his region can be further supported.

Be the first to get Breaking News

Install the Sky News app for free

• Live on Sky
• Get Sky Sports
• Sky Mobile Apps
• Kick It Out
• Black Lives Matter
• British South Asians in Football

Transfer Centre

Transfer Centre LIVE! Bruno Fernandes hints at Man Utd exit this summer

• Transfer Centre LIVE! Fernandes hints at summer exit
• Red Bull confirm Newey departure
• Revealed: What Bellingham said to Kane before penalty
• Liverpool rumours: Reds pull plug on Klopp farewell parade
• Luton captain Lockyer 'at peace' with football career being over
• Papers: Slot wants £50m-rated Atalanta midfielder at Liverpool
• Scottish Premiership VAR errors revealed - which club's were impacted?
• Man Utd news & transfers: CEO & CFO to leave
• Usyk promoter warns Fury: Don't get injured - the world is waiting!
• Trump out of World Snooker Championship as Jones pulls off shock
• Latest News

Sorry, this blog is currently unavailable. Please try again later.

How to watch Premier League, EFL, WSL, Scottish Premiership, F1 and more

• Stream with NOW

• Upgrade Now