Hello,
I'm interested in obtaining a building (owning) and converting it to a multi purpose Banquet/ Event Hall. I can't seem to locate any step by step guides to give me an idea of what I'm looking to get into. I also need funding options. I have no capital! Help... what are some helpful FREE resources??

You need to search for this building through various sources, such as a real estate agents, or cruising the area for on sale buildings, or from networking, etc.

Then if you are not planning on running the banquet hall yourself, you need to look for a tenant-the person who wants to own the banquet hall. You don't have to do this step but having a tenant, signing a letter or intent, having some prospective income on the deal will make it easier to get financing.

You need to talk to a bank to get a mortgage, or find an investor who will fund the acquisition and the renovation expense. This step is usually the most difficult.

Above are the real estate/developer part of the deal. Sound like you want to run the banquet hall yourself. Then that's a totally different kind of business.

Either of these are very specialized profession. Hope you have an idea what you choose to do in order to do some research on it.

What city are you looking for a deal like this? Maybe I can help you to find more information.

There are also links to questions that have been similar to yours at to bottom of this page. You might want to click on them to see what some of the answers have been.

I think one thing that is being missed here is experience. You are talking about investing allot of money and time. This kind of business is not cheap. Dreaming of owning a facility of this kind is great but what do you know about running it, and how do you know you will even like running it? I know it doesn't sound glamorous, but get a job in the industry. Go to a temp agency and become a server, or get a job as a busser or house man.

Just as some examples... do you know how to write or read a "BEO"? What are the other facilities in your area offering as event packages? Do you know what an event package is? If you have planned events, have you ever worked in an environment where the demands never end, where a no child wedding actually has 50 out of control children show up? Something's you can learn with research, but other aspects of this career you won't really understand until you have carried a 50 pound tray through 30 ten tops and served both great full and ungrateful guests.

I love what I do for a living, but the reality is before I did it I had no idea what was involved. And last but not least, if a you don't know all of the teams written here you don't know enough to sink every dime you have or don't have into this business.

Again... GET SOME PRACTICAL EXPERIENCE FIRST, BETTER SAFE THEN SORRY!