Start a small banquet hall in a leased space

Couples, families planning milestone parties, community groups, nonprofits and local companies holding dinners or awards nights.

A rental fee per event, often priced by day or by hour block. You can add charges for tables and linens, cleanup, security staff, a bar package and catering commissions.

• Organizing and scheduling bookings
• Talking with clients and selling a venue tour
• Basic budgeting and contracts
• Working with caterers, DJs and other vendors

• Zoning, certificate of occupancy, maximum occupancy and fire marshal rules, check with your city or county
• Alcohol: check whether you can allow guests to bring alcohol, and whether you need a liquor license or only require licensed bartenders
• General liability insurance and often event or liquor liability coverage, and ask whether clients should buy a one-day event policy
• If you offer food, check with your local health department about kitchen permits
• ADA accessibility, parking and noise rules
• A long lease while bookings build slowly, so negotiate the terms carefully

Startup costs are typically estimated at around $20,000 to $100,000, depending on the size of the space, furniture, lighting and sound, any kitchen or prep area, and lease terms. Negotiate a long lease carefully while bookings build slowly.

Monthly revenue is typically estimated at around $4,000 to $20,000, depending on your location, how many events you host and your rental rates. Bookings can build slowly at first, while rent and other costs continue.

Check zoning, certificate of occupancy, maximum occupancy and fire marshal rules with your city or county. Also check alcohol rules and liquor licensing, event or liquor liability insurance, health department kitchen permits, and ADA accessibility.