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Want to Start a Banquet Hall Business?
A Brief Banquet Hall Business Checklist

Owning a banquet hall business offers plenty of opportunity for success if you choose your hall wisely and network well. Banquet halls seem to always be in demand with the wide variety of functions requiring space and amenities including wedding receptions, conventions, pageants, ceremonies and family reunions. If youíre considering the banquet hall business, read on for some quick tips to ponder.

To begin with, youíll want to research other banquet facilities in your region. Are there an abundance of banquet halls? Are there any geographic areas that seem neglected? If you are building your own property, youíll have many more choices concerning location. If purchasing an existing property, check that the location is amenable and safe. You can contact the local police department for a description of the crime rate in that area. They can tell you the number of calls and incidences that have occurred in the last year.

When considering an existing banquet hall business, examine the building closely for necessary repairs and maintenance issues. Older properties should be evaluated for the three most common and expensive expenditures: plumbing issues, electrical problems and roof concerns. Look at the hall as if you were planning to rent it. That perspective allows you to literally see it as prospective client might. Bathrooms and kitchens should be thoroughly inspected for odd odors, leaks and unsanitary conditions. Poor lighting and weak flooring can also negatively impact the value of a banquet hall.

Parking and deliveries can be serious issues with large events. Does the site youíre considering have adequate parking if the building is filled to capacity? Is there easy access for deliverers and set-up personnel to unload and load? Though it gets overlooked by some, a prospering banquet hall business owner knows the value of parking space.

Determine the services that you would like to offer to your clientele, if any, beyond hall rental. Will you have tables, chairs and linens? What about a dance floor, sound equipment or a stage? Does the banquet hall have storage space for these items? Youíll need an office for conducting business. Is there a room available to meet those needs? Are there lines for Internet and phone service already installed?

Access to other professional services, as needed, such as linen companies, caterers, florists and sound specialists, increases the value of your property. If you donít plan on offering additional services yourself, youíll want to develop a network of professionals to whom you can refer your clients. You may be able to contract with them for a finderís fee. One excellent idea is to provide a resource booklet divided by category to share with your clients.

By answering all of these questions, you can develop a clearer picture of the real expenses involved in owning a banquet hall business. Other expenses include business licensing and related fees, property insurance and any personnel that will be hired. Also consider cleaning, landscaping and extermination services to keep the property properly maintained.

There are a plethora of determinations when considering ownership of a banquet hall business. While the business tends to be steady and regularly in demand, details can be overwhelming if not considered from the onset. Expenses may be challenging if you donít have a solid financial picture of what youíre purchasing. Research and clear examination of the property can make all of the difference.

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