AIE 177: Wedding Venue Business Breakdown

Lauren kicks the interview off asking about how Alex and his wife got into the wedding venue space. Their interest in the wedding space started when they were planning their own wedding over 5 years ago. It was important to them that they go away from the barn look that so many venues have now. They have both a groom and bridal suite. And they wanted it to be close to the airport. They do offer some additional amenities, like games, fire pit, water feature, and putting green. And they offer everything they feasibly can as part of their packages. So, they aren’t nickel and diming as much as competitors do. The packages cover the venue and alcohol. Peak season is May – Thanksgiving mostly on Fridays and Saturdays as far as weddings go. Alex and his wife do welcome other events at their space to fill the weeks and off-season, like baby showers and holiday parties. Even a church sometimes rents the space! Naturally, Lauren dives into the personal finance side of weddings for engaged couples, including what happens when people break up. One question is: who’s paying for weddings nowadays? Lauren frames some of her questions from her short-term rental experience perspective, like when she asks about reviews. Over time, Alex and his wife are adding more services to their packages to increase revenue to $1 million. Finally, the conversation turns to the future, and a new partnership path Alex is going down.

If you liked this episode, you’ll also like episode 86 When Entrepreneurship Pays Off.

About Alex:
Alex Nelson is the developer & owner of The Midnight Gem, a wedding & event venue that booked 100 weddings during construction. He’s also a venue consultant and hospitality entrepreneur.

Connect with Alex:
https://twitter.com/WeddingVenueGuy
https://themidnightgem.com/

Connect with Lauren:
https://twitter.com/AdultingIsEasy
https://www.instagram.com/@adultingiseasyreal
https://www.housemoneymedia.com/