Turnaround and remodelling of an existing wedding venue for our client, to improve income and cashflow, without incurring net expenditure.
What we did
We investigated the market to devise the correct business plan for the venue in order to revitalise it
Identified the right ‘venue management’ partner to implement the business plan with our client
We worked up all the terms for the agreement, by negotiation with the chosen partner
Set up alternative options for future expansion of the business to give incentive and flexibility to both partners for the future
- The result was a much improved wedding and events venue now known as the Milling Barn
- Further expenditure only out of added income after improved cashflow for client
- Significant turnaround in the net income result for our client over three years
- Wedding and events numbers more than doubled
- Hire fees now higher for the improved venue
- Clients no longer need to run the venue, so can develop other business
Turnover increased by over
in three years and rising!
Bidwells’ RDD team gave us the confidence to make a significant structural change as to how we ran our wedding and corporate hospitality business; they guided us through the whole process and we have never looked back!
James, Matt and Rob Smyth, Bluntswood Hall, Throcking