Hi there! My wife and I do photography & videography and are wanting to go head first into the wedding industry with operating our very own venue.
Considering we are not in the financial space to fund this venture, my question is, what different strategies would you recommend?? Our thoughts are we could appeal to an investor to front the cost, whether that be for an existing property or purchase one and build upon, with the appeal of being a truly "all inclusive" venue considering we also provide photo & video services on top of what the competition provides. This would create a "one click" option for wedding days if the couple so chooses (If the date is available, ALL vendor services are as well.. Everything is optional of course, but AVAILABLE is the key! :)
Ideally we would want to make a simple profit share, hands off investment for the investor after purchase/renovation/construction where they receive (x) amount per booking or % based off of revenue.
What would be the best way to go about this pitch to an investor? How exactly would we structure it? I know the dream alone likely wouldn't sell them, so what steps do you recommend we take to move in that direction before presenting the investment opportunity?
Or would this not even be the best way to go about it? I doubt a hard money lender would want to put the money out toward inexperienced investors, plus it could take too long for us to feasibly pay back that loan within the terms. Any advice is much appreciated!!
