Why Are So Many Wedding Venues for Sale? 

If you’ve noticed more wedding venues for sale lately, you’re not alone—and it might just be the perfect time to seize an opportunity in the wedding industry.

I came across a fascinating stat from CNBC: over 11,200 Boomers will turn 65 every day in 2024.

So, why does turning 65 matter?

It’s retirement age.

Let’s throw another impressive number at you… 75 MILLION Baby Boomers will retire by 2030. Here’s the kicker—Baby Boomers are the generation that owns about ⅔ of all small businesses.

Some might see this as a problem, but I’m in the opportunistic camp, and I see this as a massive opportunity.

Within the next five years, millions of fully operational businesses will be up for grabs.

Now, here’s something we can’t exactly predict: how many of these businesses are wedding venues. But I can tell you that I’m already seeing a rise in operational venues with “for sale” signs popping up.

I’ve had several consults with aspiring venue owners asking me to review listings for them before they submit an offer on venues for sale. And a past client has reached out to me saying they’re ready to retire.

Meanwhile, I received an email from someone asking, “If the wedding business is so great, why are there so many venues for sale right now?”

Answer: A LOT of them have put in their sweat equity and are ready to kick back and put their bum in the sand. Fair enough! 🏖️

Wedding Venues for Sale Are the New Goldmine

If you’re like me and see the opportunity in this, here’s what I’d do if I were in your shoes:

• 1️⃣ Research the market you’re interested in. If you’re not tied to a particular market, start by looking for available wedding venues for sale. Click HERE to learn about my location scouting checklist!
  
• 2️⃣ You can check the MLS, but keep in mind that fully operational venues rarely show up there. For that, you’ll want to explore private listing sites like Crexi or LoopNet, or even start grassroots efforts.
  
• 3️⃣ Once you find a few interesting venues for sale, dive deep into the details: feasibility studies, market analysis, and competitive analysis are all key.
  

One of the biggest perks of buying a venue that’s already operational is that there’s no waiting for construction or massive renovations. The systems are already in place, and it might even come with clients on the books and revenue already rolling in.

But there are also some things to be cautious about. Make sure you ask in-depth questions about the venue’s history, operations, and any potential issues you’ll need to address.

Baby Boomers are retiring, and millions of businesses—including wedding venues—are up for grabs. Get in on the action!

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