What should a business plan for buying an event venue include?

Lenders and your advisers read an acquisition plan differently from a start-up plan. They are not asking whether the idea can work. They are asking whether you can take over something that already runs, keep it running and carry it through its quiet seasons. A generic template written for a new business leaves most of those questions unanswered.

The calendar you are inheriting

Start with what is already booked. Describe the events on the calendar, the deposits clients have paid and how you will deliver on each promise. A reader wants to see that you understand these as obligations, not only as future income. Link this section to the seller’s records and to what your lawyer confirms in the purchase agreement.

People, vendors and seasons

Say who runs events day to day, whether the coordinator is staying and how you will keep the relationships with planners, florists, photographers and caterers. Then lay out a cash plan across the year. Venues are busy in some months and quiet in others, so show how the slow months are funded before the busy ones arrive.

You, and what changes

Be honest about your own experience in hospitality or events, and who will cover the gaps. Then describe what you plan to change after closing, and what you plan to leave alone for now. Keeping early changes small is easier to defend. A good starting point is how a takeover goes after closing.

• The booked calendar and how each obligation will be met
• Staff, coordinator and vendor handover
• A month-by-month cash plan through the slow season
• Your relevant experience and who fills the gaps