 | |
| Browse | Ask | Answer | Search | Join/Login | |
Opening a banquet hall
Asked Aug 3, 2007, 10:20 AM
—
4 Answers I have always had a desire to open a multi-purpose banquet hall which could be used for corporate and social events. Just this week, I found a building that would be IDEAL! The building is only 3 years old. It's in a community that is growing by leaps & bounds, and is centrally located on a major street just miles off of two primary interstates that run through the surrounding areas. My only problem is... I don't know where to begin. Can someone please tell me how I should start the ball rolling to get this building purchased & remodeled, and ultimately, the business open? |
| ||||
| How much capital do you have to invest? Do you have an idea of what your startup costs will be? Do you have any experience in this field? | ||||
| |
| ||||
| I am working on gathering capital currently. I don't have a "total" just yet, but I have several people who are (and have been for years) willing investors. No, I don't know officially what my start up costs would be. I do know that with the particular building I have in mind, I'd need to do some remodeling on the interior because it's previous use doesn't meld well with the new intent of the facility (it used to be a large night club). If I had to guess, my start up costs would be in the area of $100K - $150K (not including the remodeling). Experience? In the area of running this type of business, no, I don't. This is a whole new arena for me, as I am currently working as an electrical engineer. (I know - drastic change!)  | ||||
| |
| ||||
| Some other things to think of are liquor licenses, food preparation and serving staff (or a partnership with a caterer), maybe affiliation with some house of worship for recommendations, etc. | ||||
| |
| Thread Tools | Search this Thread |
Add your answer here.
Check out some similar questions!
My husband and I are currently researching opening a bar/pool hall in Florida. I was wondering if anyone had any advice on how we should go about starting this. I have gotten a little information about the liquor license in our area, but it been so extremely expensive, we have decided to go with...
I would like to write a business plan to get finance to open banquet hall.
My wife and I are interested in building a multi purpose function hall . We have a lot of equity on our home. We do not have a lot of experience, we need somebody to advise us on how to go about this project.
Hello, I'm very interested in starting a Pool Hall, but I don't really know where to begin. I know I need to write a business plan and research the market but I'm finding it difficult to find this information. Any suggestions out there I'm looking to get started asap. All replies are greatly...
Hello everyone. I was posting this to see if anyone could give me any feed back on the procedures and tips of opening a small business pool hall. I am currently 23 yrs old, holding a steady tech support job. I guess what I am looking for is more or less suggestions relating to the actual finance...
View more Business Plans questions Search
