Why Leasing Might Be the Smartest Move for Your Venue Business

You might be surprised that many successful venues are leasing their space—they don’t own it.

Most aspiring venue owners I speak with share a common goal: owning their venue in some form or fashion. But I’ve noticed a pattern—when the bank says no to a loan, many take that as a sign to give up entirely.

Some give it a valiant effort, and I don’t want to take that away from them. I’ve worked with aspiring venue owners who have applied for funding seven times, only to face rejection after rejection.

When I suggest adjusting their approach and leasing instead of buying, I often hear, “Oh no. Respectfully, that’s not for me.”

Well, respectfully, that might be the only option—even if it wasn’t the original plan.

You Don’t Have to Own to Succeed

You don’t have to own your property to be a successful venue owner. In fact, leasing might actually be a smarter option, especially when you’re just starting out. Here’s why:

1. Leasing Has a Lower Barrier to Entry

Leasing requires much less upfront investment than purchasing land and building from scratch—or even acquiring an existing venue. That means less financial risk and an easier way to get your foot in the door.

2. Proof of Concept

If you’re in an unsaturated market, booking out your leased venue proves there’s demand in your community for event space. If you’re in a saturated market and still filling up your calendar, it shows you have a unique value proposition that makes you stand out from the competition.

3. You Build a Successful Track Record

I like to call this your Pretty Woman moment (I might be showing my age here).

Imagine this scenario:

You apply for funding at multiple banks and get a solid no all around.
You pivot, adjust your plan, and decide to lease instead.
Your leased venue becomes so successful that you have a waitlist.
You go back to the banks that turned you down, proof of success in hand, and suddenly they’re all competing to give you the best loan terms.

I’m not saying leasing is for everyone, but the experience and lessons learned are invaluable. Many highly successful venues don’t own their buildings—you’d never even know.

Is Leasing the Right Move for You?

Leasing is often overlooked, but could it be your ticket to finally making your dream a reality?

If you’re curious to learn more about leasing, Kinsey and I recorded a podcast episode on The Venue Podcast where we break it all down.

Listen Here

In this episode, we cover:
Pros and cons of leasing
Potential limitations
Key considerations for your lease agreement

Here’s to chasing your dreams and thinking outside the box!

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