5 Types of Venues That Can Boost Revenue with Private Events
What comes to mind when you hear the words “event venue?” A grand banquet hall, or a theater that can seat thousands? If so, you’re definitely not wrong, but you could be overlooking an entire realm of private events.
There are countless businesses adding revenue to their bottom line by renting out extra space to individuals or groups who need a place to host a variety of events, from team meetings to baby showers. We’ve compiled a list of five types of businesses that have an opportunity for private events that may come as a surprise.
1. Conference rooms
Many companies put a lot of work and creative energy into their office environment. If your office has a unique space or a large conference room, chances are, you don’t need it all day, every day. Take a look at when the rooms are most used and when it stays empty for long periods of time. If it makes sense for you and your team, consider renting out some space a couple of times a week during those off-hours, or even over the weekend, for additional revenue. Just make sure there isn’t anything in your lease prohibiting room rentals.
2. Semi-private dining space
If you’re in the restaurant business, you may already know the benefits of private dining. But if you think a program is out of reach for you because of limited space or lack of a private dining room, we urge you to reconsider! There are plenty of simple ways to create a semi-private space in your dining room. Use any natural divisions of space, such as corners and nooks, or add a temporary space divider. Most parties and business meetings will be satisfied with a set-aside space that’s mostly private, and the group dining will add to the overall energy in your restaurant.
3. Movie theaters
Movie theaters have the benefit of completely private large rooms with a sound system and seating for a crowd. Aside from private film screenings, consider times of the day or week when showings are limited, such as weekday mornings. Instead of leaving the space empty, rent out your theater to businesses that need to address the entire team at once, or hold a yearly training program. Often, the times they need the space coincide with the slowest times for movie sales.
4. Breweries, distilleries, and wineries
Producing alcoholic beverages often requires a lot of space. The equipment needed is large, and cellars and barrel rooms require closed spaces and controlled temperatures. The good news is, with a little planning and marketing, you can make use of this extra space in your brewery or winery for private events. If you put some time and effort into your tasting room, you can not only use that space during regular hours, but you can rent it out for events for an additional revenue booster.
5. Museums
Museums are often thought of as day-time attractions for the public to learn a little bit about history and to pass the time on a rainy Saturday. But, museums are also the perfect place to host private events. Not only are they filled with eye-catching attractions like built-in artifacts or other conversation starters, but what better way to help someone host an unforgettable wedding, corporate party, or birthday celebration? An added bonus: since museums are typically open during the day, private events are a great way to bring in additional revenue at night.
Manage your bookings with the right software
A variety of venues — from restaurants and food trucks to breweries and offices — have chosen to host private events, with help from our cloud-based software to boost their revenue. Our features help drive more sales, impress customers, and grow your events business in a way that’s manageable and profitable. On top of all that, our dedicated support team is just a call or email away to help with any questions you may have. Schedule a demo at a time and date that works for you to learn more about how Tripleseat can help you build and streamline your events and private dining business.
Editor’s Note: This post was originally published on the Gather blog and written by Caroline Cox.