Is starting a banquet hall a good idea even if I have no food service experience?

[chelle21689]

Hello, everyone. I've been trying to figure out for a long time what I've wanted to do. I had no idea but I knew one thing, I always wanted to own my own business but I had no idea what until today. I would love to own a banquet hall that caters to receptions and other special events.

I want to be able to provide some supplies like chairs, tables, silverware, etc. I like the idea of recruiting, marketing, alcohol, and all of that not necessarily be an event planner. The thing is, I know a lot of banquet halls have in-house catering but I don't know if I'd like to start off that way. I don't have restaurant or catering experience but I do come from a family of business entrepreneurs that are successful in Asian grocery, restaurant, day care, etc.

I do have an idea of what I'd like to do though. I mean, not everyone likes the option of HAVING to go by the banquet caterers but would like to provide their own food or choice of cater. I would like to partner up with some restaurants or caterers that might be able to give them a decent rate while we can still make profit. Is this doable without having a whole restaurant/banquet?

Also, what about rent? I would like to own but I know it's very pricey.

I don't think I've ever felt so excited and passionate about a business idea. It's something I'm still researching on. I know there's so much to think about like licenses, rent, etc. Oh, and target audience.

I'd like it to be mixed. There's a big Asian community that likes it cheap and brings their own stuff and just wants a place to rent.
But then again, I'd like to cater to everyone not just the Asian community.

Like all businesses, it's a very scary idea but I'm very interested.

[nealrm]

So you came up with the idea today and are in-love with it. My first suggestion is to sleep on it for a few nights, see if your opinions change. If you are still liking the idea, find a banquet hall and go to work for them. You need to get an idea of what it is like to work at a banquet hall BEFORE you go out and try to start one. Right now you THINK you now know what is involved, but you really don't. If you still like it in 6 to 12 months, then look at starting your own.

[chelle21689]

Well yeah, I'm not an idiot lol. That's why I said I'm going to research up on it and take my time thinking if it's something I really want. Not going to jump right into something new.

But you didn't really answer my main question if it is doable without in-house catering providing wait staff.

[chelle21689]

How about shadowing a manager a few times? Maybe call and ask for an internship and be an assistant for free part time for a few weeks?

[nealrm]

I think it is doable without having an onsite food-service. Teaming up with local businesses would be a good option. You would need to check your local market to see what that would do with your ability to compete.

[chelle21689]

I'm starting to feel a bit sad now, because you and my sister say I need experience. The only experience I qualify for is probably server jobs which make near minimum wage and I don't know if I can afford x amount of years to build that type of experience of seeing what goes on behind the scenes.

[nealrm]

For some minimum wage is a starting point, for others it is an ending point. The difference between the two is that one is there until they get the experience to move up, the other person is there because they think it is the only job they can get. Be sure to be in the first group and not the second.

[Steve B]

I think there is a reason the other places have the catering done in-house. I'm guessing the profit from just the rental will not be enough to pay your bills. Or, you would have to charge a much higher rent than other places and you would lose your community that likes things cheap.

Also, working as an intern for a few weeks would get you a few weeks of experience. That sounds like a recipe for failure to me. I would suggest working for two different catering companies for the next 2 or 3 years - then you might be ready to start a business (assuming you have or can quickly get the necessary business skills).

I know it sounds like I'm bursting your bubble - but, I think you need to be realistic. If you only think you are qualified for min. wage server jobs, then how can you be qualified to run your own business? Get yourself A LOT more qualfied and keep working toward your goal.

[Wozcreative]

Did you just say you thought of the idea today and you're suddenly passionate about it? Is that even possible without experience this type of career? How can someone be passioante about something they know nothing about.. Many reasons why people need to do either a lot of years of experience working in that industry or learning about the industry/business your going into. Knowing how rent out a building is one thing, but then you need to know how to deal with any issues, food, supplies, paying people, taxes, providing benefits, hiring an accountant, food safety, alchohol licensing, photographers, marketing locally, marketing via online.Cost and profitability, the money you can put down to start it up, future growth plans of the business and how you plan to make money. Knowing WHEN you will be profitable and how long you will be in the hole. Knowing how many hours it will take, dealing with hiring/fixing damaged goods. Being up late to help manage and clean up the place after it's been trashed by an event. Being responsible for what happens if something happens, soemone gets sick, someone hurts themselves etc.
You will need a janitorial staff to make sure the washrooms are replenished and clean. Cleaning up/vacumming/washing all the carpets from all the drinks and the glitter and all the flowers etc. And ofcourse dealing with BRIDEZILLAS!

[huggytree]

your odds of success w/o any experience are very low....probably single digit low

you cant just pick something you have no experience in and expect to be successful in business

pick your idea, then get a job in that field....spend a few years and learn how its done....who the suppliers are, how they find their customers.....then look for ways that you could it better...w/o the experience how do you know what to do or expect

you could look to buy an existing business that already runs itself.....but w/o the experience yourself id think that would fail at some point of crisis when you made the wrong decision

you need to be an expert at what your going to do...not a novice

experts fail every day.....how will someone who is just guessing at what to do succeed????