Hot Take: Wealth Management Firms' Interest in Venue Acquisition
Release Date: 03/06/2024
![AI Search Visibility for Venues [Part One] show art](https://assets.libsyn.com/content/190880105?height=50&width=50)
AI Search Visibility for Venues [Part One]
The Venue Podcast
Search is changing—and fast. With AI-generated answers now appearing at the top of platforms like Google and Bing, venue owners need to start thinking beyond traditional SEO. In this episode of The Venue Podcast, Kinsey Roberts and Lindsay Lucas dig into AI search visibility and what it means for wedding venues moving forward. You’ll learn what AI search actually is, how it’s different from standard search results, and—most importantly—how to position your venue to stay visible and competitive in a changing digital landscape. We cover: 🤖 What AI search results are and how...
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How to Optimize Your Google Business Profile
The Venue Podcast
Episode Summary: Your Google Business Profile might be one of the most overlooked tools in your venue’s marketing strategy—but it shouldn’t be. In this episode of The Venue Podcast, Kinsey Roberts and Lindsay Lucas break down how wedding venue owners can fully optimize their Google Business Profile to improve visibility, build trust with potential clients, and drive more qualified inquiries. Whether you're just claiming your profile or looking to take it from “meh” to magnetic, this episode walks you through practical steps that will make your venue easier to find and more enticing...
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The Tech Stack That Runs My Venue Business (For Under $400/Month)
The Venue Podcast
The detailed breakdown of Kinsey's Tech Stack to run her wedding venue, Vista View Events for less than $400/month. Here's the List: Creative & Design Tools Canva Pro - $20/month All social media content (Instagram carousels, Facebook posts, Reels covers) Photo editing and headshot retouching PDF guides and digital products Physical printed materials (thank you cards, planners, branded envelopes) Client Management System Dubsado - $20/month Central CRM for all client relationships Contract and agreement storage Client portal functionality Custom lists and...
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Should You Put Your Pricing on Your Venue's Website?
The Venue Podcast
In this short and sweet episode, Kinsey Roberts and Lindsay Lucas tackle one of the most frequently asked questions from venue owners: “Should I put my pricing on my website?” We get straight to the point and unpack the pros, cons, and strategic considerations that come with displaying (or not displaying) your pricing online. Whether you're a brand new venue navigating your first inquiries or a seasoned pro refining your booking process, this quick listen will help you make an informed and confident decision. In this episode, we cover: Why there's no one-size-fits-all answer How your...
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Before You Break Ground: The 7 Mistakes First-Time Venue Owners Make
The Venue Podcast
Every week, another beautiful venue closes its doors within the first few years. The reason? It's the costly mistakes made before ever welcoming the first guest. In this episode, Lindsay pulls back the curtain on the 7 most expensive missteps first-time venue owners make and provide actionable strategies to avoid them. Whether you're in the dreaming phase, applying for funding, ready to sign a lease or even a seasoned venue owner, this episode will save you time, money, and heartache by learning from others' expensive lessons. Key Takeaways 🎯 Market research isn't optional 💰 The MVP...
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Dream Big, Start SMART: Building Your Wedding Venue in Phases
The Venue Podcast
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How to Get More Wedding Venue Leads: 3 Strategies That Actually Work
The Venue Podcast
"Bookings are down for this year" - sound familiar? If you've been watching your lead pipeline slow to a trickle while refreshing your inbox hoping for inquiries, this episode is your lifeline. Kinsey and Lindsay are pulling back the curtain on three strategies that are actually working to generate wedding venue leads right now (not the same tired advice you've heard a million times). Grab your notebook (seriously, you'll want to take notes!) as Kinsey breaks down: 📱 Strategy #1: Leverage Social Media Consistently Learn the exact content formula that moves couples through their buyer's...
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Risk, Liability, and LLCs: Structuring Your Wedding Venue with Onsite Accommodations
The Venue Podcast
In this episode Lindsay answers a listener's question, "Should my wedding venue accommodations be in a separate LLC?" If you're running (or planning) a venue with onsite lodging, this episode is a MUST-LISTEN 🎧 Lindsay breaks down exactly why smart venue owners separate their accommodations into their own LLC: Liability protection (because wedding drama ≠ lodging issues) Different insurance needs = different coverage Cleaner financials = better business decisions Exit strategy flexibility (sell one, keep the other!) This listener question came at the perfect time - so many of you are...
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Quick Fire Episode: Tips for Selling Your Wedding Venue
The Venue Podcast
In this episode, Kinsey Roberts and Lindsay Lucas break down the key steps for wedding venue owners considering selling their business. With an increase in inquiries about buying and selling venues, they share practical advice based on real experience. Key Takeaways: Get your financials organized first - Buyers want to see actual profit, not just potential. Have your gross and net revenue clearly documented and ready for scrutiny. Prepare for thorough due diligence - Serious buyers will conduct what feels like a "financial cavity search." Be organized with all paperwork, documentation, and...
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Stop Losing Bookings: What Actually Happens During Venue Tours (Part Two)
The Venue Podcast
THIS IS PART TWO OF OUR TWO-PART PODCASTS ALL ABOUT ANSWERING THE QUESTION: How do you make your wedding venue stand out during tours? Are your venue tours not converting the way you'd hoped? You're not alone. Most venue owners focus solely on aesthetics during tours, but the venues consistently booking at premium rates understand something crucial: the tour experience is fundamentally a neurological journey. In this episode, Kinsey and Lindsay break down the three neural systems that factor into venue decision-making and reveal why couples actually make their venue choice within the first...
info_outlineThe Surge of Interest from Wealth Management Firms
In a recent wave from January to June 2023, Lindsay observed an unusual trend: a number of wealth management firms expressed keen interest in investing in the wedding industry, specifically wedding venues.
After some thorough research, she confirmed that these firms were independent of each other and scattered across the US, from New York to California. Their goal was to invest large sums, often with the intent to acquire and grow various wedding venue businesses.
- Diverse Interest: Multiple wealth management firms are looking to invest in the wedding industry.
- Investment Goals: Strategies range from flipping venues for profit to monopolizing local markets.
Initial Skepticism and Due Diligence
Lindsay shared her initial hesitations about these inquiries, emphasizing the importance of due diligence. She expressed concern over the firms' approach, which seemed to undervalue the hard work of venue owners by referring to their businesses as "mom and pop" venues. The firms aimed to purchase profitable venues, with profits matching their investment, which Lindsay questioned, suggesting that a venue making significant profits wouldn't likely sell for just one year's earnings.
- Protecting Venue Owners: Approach inquiries with skepticism and due diligence.
- Understanding Value: Consider the true worth of a profitable business before entertaining offers.
Negotiating Power and Legal Protection
The hosts advised venue owners to involve legal counsel in any serious acquisition discussions. With wealth management firms likely having extensive legal and financial advice, it's crucial for venue owners to level the playing field with their own experts, particularly acquisitions and real estate attorneys.
- Legal Representation: Engage an acquisitions attorney and a real estate attorney when approached.
- Know Your Worth: Ensure you understand the full value of your business and have professional financial advice.
Emotional Considerations and Strategic Decisions
Moving beyond the financials, Kinsey and Lindsay discussed the emotional and strategic aspects of potentially selling a venue. They advised venue owners to separate emotions from the decision-making process and to consider the long-term implications for the industry and their personal lives.
- Emotional Detachment: Keep emotions away from the transactional aspect of selling your business.
- Future of the Industry: Reflect on the potential impact of such sales on the wedding industry's sustainability.