Event Venue Operator Business

3 Event Venue Operator Business Success Stories [2024]

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Updated: October 8th, 2024

Want to capitalize on the demand for memorable events? Consider operating an event venue. This business involves owning or managing spaces designed for weddings, corporate gatherings, and various celebrations. Event venue operators focus on creating a setting that meets clients' aesthetic and functional needs.

Managing an event venue goes beyond renting out the space. You'll collaborate with vendors, oversee maintenance, and ensure a seamless experience for clients and their guests. Every event is unique, offering a dynamic and rewarding work environment.

Starting an event venue business can be a fulfilling venture if you have a passion for hospitality and an eye for detail. It requires substantial initial investment, strategic marketing, and strong community relationships. However, the potential for long-term success and a consistent revenue stream makes this business idea an appealing option for those ready to invest the effort.

In this list, you'll find real-world event venue operator business success stories and very profitable examples of starting a event venue operator business that makes money.

1. Ancient Lore Village ($6M/year)

Tom Boyd, an experienced entrepreneur, came up with the idea for Boyd Hollow Resorts after witnessing intolerance and hatred during his son's campaign for governor. He decided to change the direction of his book and wrote about a place where people could live together in peace and happiness. To test this theory, he decided to build a village called Ancient Lore that would serve as a 5-star boutique resort and event center. The uniqueness of the village has garnered substantial press and early financial success, with over 200 inquiries for events before its official opening in January 2021. Boyd's goal is to build seven more villages over the next five years, with a projected combined income of $76 million.

How much money it makes: $6M/year
How much did it cost to start: $10M
How many people on the team: 3

Starting A 5 Star Boutique Resort And Event Center Based On A Fiction Book Lore

Boyd Hollow Resorts is launching a 5-star boutique resort and event center based on a fiction book that will be the first of many Villages to be built around the world, with over 200 event inquiries received before launching.

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2. Tower Electric Bikes ($3.6M/year)

Stephan Aarstol, the CEO of Tower Electric Bikes, came up with the idea for his business while observing the growing trend of electric powered vehicles on the beach boardwalk. He saw the potential of electric bikes as the perfect form of transportation and recognized the fragmented market of ill-conceived products and brands. With his experience in the paddleboard industry, Aarstol aimed to create a high-quality, low-cost eBike brand that would fill the void in the market, ultimately building the world's first famous eBike brand.

How much money it makes: $3.6M/year
How much did it cost to start: $30K
How many people on the team: 6

How I Partnered With Mark Cuban To Start A $250K/Month Company Selling eBikes

Tower Electric Bikes is a direct-to-consumer eBike brand co-founded by Stephan Aarstol and Mark Cuban, which has done over $36 million in sales since its $150,000 investment in 2012, and produced and sold everything from paddleboards to electric bikes for half the retail price, with the aim of creating the world's first famous eBike brand.

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3. Spacehuntr ($600K/year)

Dietrich, a retired investment manager, came up with the idea for Spacehuntr after experiencing the dread of traditional corporate meetings. Initially focused on coworking spaces, a pivotal moment came when they helped a lost client find a unique venue in Brussels. They realized they could specialize in helping foreign clients find unique spaces for international events, leading to a spike in demand and steady growth.

How much money it makes: $600K/year
How much did it cost to start: $10K
How many people on the team: 10

How We Successfully Pivoted Our App For Coworking Spaces To A $50K/Month Platform To Book Event Venues

Spacehuntr achieved a +700% growth in 2019 with revenues, despite the global pandemic, on track to match that growth in 2020, by launching a 360° platform for businesses to book and manage unique Work, Play & Stay spaces, catering to international corporations such as Airbnb, Netflix, and Uber.

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