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How much should your charge to rent your space?
There is no correct answer to this. It depends on your location, the
number of other nearby events spaces and the local population, to
name just a few factors that will dictate a fair rate. Research what
other area venues are charging to host everything from weddings
to banquets to corporate parties. This will give you a ballpark range
you can consider along with your perceived value of the brewery.
Tasting rooms are unconventional and socially cool places. This
gives you a little potential edge to consider your place “in demand,”
once you sell it as that. While charging nice sums to rent your
establishment can be motivating, sharing your space with the
community at an affordable rate is also a fantastic way to build
goodwill towards your brand. Build a strong connection with your
community through your support and this relationship will benefit
all parties involved.
What’s your profit?
Selling to your regulars on a slow Monday will definitely mean
good times, but how about a 100-person company party that pays
X number of dollars to host a private event? How much staff will it
take to accommodate? Any additional special requirements other
than just offering your space? Be sure to dictate what’s included in
the rental. Consider how much you would do on that specific nonevent
day and look at the pros and cons of holding a special event.
The Brewers Association – a U.S. industry association – recently
released a great guide on creating a Venue Rental Agreement that
works for you.
Will it attract a new audience?
Regulars are great, private events bring guaranteed money, but the
true value in using your business as a venue is the potential new
Blow your first-time guests’
minds. Give them a reason
to come back for more
WINTER 2020 § POURED CANADA § 41