A small events venue can be an excellent income-generating venture in the time of COVID-19. If your residential property was designed so that it already looks whimsical or simply beautiful even without styling, consider turning it into a special events venue for small gatherings. Here are some upsides to this business idea:
- Due to COVID-19 gathering restrictions, people hold weddings, birthdays, and other celebrations that are much small in scale, and a residential property that can hold even 20-30 people can fill that gap in the market.
- If your home already has a beautiful and spacious backyard, you’ve already won half the battle.
- Turning your residential property into a special events venue might require much less capital since people who hold special events usually hire a separate vendor for catering, styling, and renting tables and chairs.
It’s reasonable to assume that customers may be few and far between since people might be less inclined to celebrate anything during a pandemic and a recession. However, a report from the World Health Organization (WHO) showed that couples worldwide are still finding ways to hold their weddings in safe ways. At the same time, the crazier the world gets, the more people would be likely to commemorate what’s most important in life—our lives and our relationships. Here is a step-by-step guide to turning your residential property into a small special events venue.
Make sure the property is prepared to hold special events.
Here is a checklist for making sure every aspect of your home is ready to accommodate all the technicalities that come with holding events:
- Check if your wiring needs to be updated. Special events often require a lot of energy use due to music and lights, so make sure that your home’s electrical wiring is up-to-date and comply with current wiring regulations. Hire a reliable team of experts who can assess and ensure the electrical installations in the property are safe to use and who can give you an official EICR that certifies your property has no electrical problems.
- Ensure that the place can comply with the WHO and the Centers for Disease Control and Prevention’s (CDC) COVID-19 guidelines and restrictions on public gatherings. This includes an outdoor venue option, which is why a property with a garden or a backyard is most ideal.
- Don’t just do a general cleaning; make sure every property area is deep-cleaned, which entails sanitation and disinfection. Ensuring that the place is spotless is crucial, especially if some guests stay in the bedrooms when the parties are over.
Get the necessary licenses and permits.
At the end of the day, running a special events venue is still a business, so ensuring you have the necessary paperwork is crucial. Just like running a restaurant, venue business owners must make an effort to ensure that the location complies with the laws and regulations regarding alcohol sales, noise disturbances, maximum capacity, and other key safety measures. Failing to comply with these regulations may result in hefty fines—especially major violations like selling alcohol to minors. Venues must also allow for marshal inspections to leave no room for doubt that the property violates no building codes, that there are properly-marked and obstruction-free emergency exits. These inspectors will also be able to double-check for fire hazards that may affect not just the venue but also its neighbours.
Create marketing content that’s sensitive to the times.
Being able to start a business—any business—is already a privilege in a year marked by so much tragedy and suffering for so many people. While marketing and promotions are crucial parts to ensuring your venue business’ success, make sure that you create content and materials sensitive to the cultural moment. Here are some tips for creating a brand identity that speaks to the world’s current situation:
- Do away with the lavish, Gatsby-esque spectacle of special events; instead, focus on the intimacy, coziness, and micro aspect of holding celebrations during a pandemic.
- Focus on the importance of celebrating all the beauty and wonder that are left in the world—because there’s still so much to celebrate despite all the suffering. Don’t be insensitive to your consumers’ plight who are hurting, and don’t invalidate how hard this year has been, but find ways to still instill hope and optimism in the language you use. There is a tension there that you need to walk, and if it works, you might find a customer base.
There’s something wonderful and meaningful about giving people a cozy place to celebrate their milestones and special occasions, especially in a year like 2020. Be part of people’s unforgettable moments while earning from your residential property.