This is one of the most common areas I see underutilised for venues – no matter the size. You may be surprised to hear that there is a mathematical strategy behind Minimum Spends and Venue Hire and this equates to a huge addition to your yearly revenue. But why are Minimum Spend and Venue Hire documents put in place? Here are a few reasons:

 

• They’re calculated utilising various items including your general takings on a specific day and time of year – this is to ensure that when you say YES to an exclusive event with a Minimum Spend that you are certainly making more money than you would should you just open to public

• Minimum Spends assist with locking in clients at a certain rate – should their numbers change, you are still guaranteed a minimum on food and beverage

• Venue Hire IS your negotiation tool. Why would you negotiate on a something that includes GP when Venue Hire is 100% GP

• It gives your Event Teams complete autonomy using the MS & VH documents that have strategically been put together and signed of by upper management.

• Faster turn around and more informed Proposals for your clients

 

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I really enjoy putting together and teaching venues how  to implement Minimum Spends and Venue Hire – these processes will naturally increase your revenue and will pay for itself in a short period of time.

 

You can be a small bar or restaurant or a 2000 capacity venue – we will increase your revenue utilising our Minimum Spend & Venue Hire document.