A party hall can be a fun and lucrative business venture when you carry out the proper amount of planning to start and operate it. Putting some thought into how you’ll run the party hall and rent out its space can be the primary determinant in whether or not your party hall is booked regularly or empty weekend after weekend.
Decide on a specialty or general offering. Decide if your party hall will specialize in a particular type of special event such as weddings or offer a venue to a variety of party options. Whether you specialize or generalize your offer may affect how you decorate the hall and what party options you make available in your packages.
Choose what you’ll offer. As a party hall, you may simply rent out the party space, but you can add to your income if you decide to offer some of the other party details along with the space. You can choose to offer catering services, linen rentals and even an event coordinator as part of your event packages.
Build relationships with vendors. Once you decide what services and products you want to offer, find vendors you can outsource to for the details you don’t want to handle yourself. Some vendors include linen companies, party rental companies for tables and chairs, caterers, waitstaff, etc.
Create packages. Put together different party packages your clients can choose from. You may wish to offer a low, mid and high-level price point package as well as a la carte items customers can choose to add to their packages. Creating packages helps you to showcase what you can offer customers, and it can also help you stay focused on your offering.
Hire staff. Generally, a party hall requires a manager, an event planner and one or two sales people. Higher volume party halls may require more staff than ones with smaller volumes. Decide on what staff members you need to help you run the party gall and hire them.
Have an open house. Since you have the party space and some of the other details for throwing a party, a great way to showcase your party hall is to throw an open house party. Invite potential customers and potential referral sources to an open house party where they can preview the party hall and enjoy some refreshments, dancing and more.