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Cover charges and promoters taking financial risks of hiring venues

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Posted By: Bit impractical 14/05/08 21:20 Source ID: 0dc8534a-b37fb972

Is it that no promoter is willing/able to take on the financial risk of hiring a venue?


Not that simple AndrewS. when i have looked into venue hire for a work related event one venue i spoke to said something along the lines of........there was a hire change AND a minimum bar sales level.

If we *significantly* exceeded that minimum bar sale the room hire could be waivered. So for example venue hire could be £1000 with minimum *guaranteed* bar (drinks and food aka *nibbles* spend of £2000. if bar spend reached say £3000 then the venue hire £1000 would be *waivered* as *goodwill*. If on the other hand bar spend only reached £1000, then the venue's management would be looking to us [the hirers] to make up the extra £1000 on the bar. Which ever way you look at it the venue's management wanted their *pound of flesh*...........that pound of flesh = £3000.

We never got around to discussing with venue's management what would happen if bar spend reached £4000 [highly unlikely]............would they give us £1000 back! Yes this particular venue was in central London.

i wont mention the *minimum* bar spend went up from a Wednesday night to a Thursday/friday/saturday option. As with a salsa night we could not guarantee how many employees would turn up and as it was a paying bar how many would buy *expensive* drinks. If it was a *free* bar we could have been pretty sure the bar tab would have probably exceeded £5000! Company management did not want to spend so much.

Try and put this now to a salsa night. As for is there no promoter is willing/able to take on the financial risk of hiring a venue? Some do I expect. But rightly so, they are most likely not willing to take the financial risk of owing x000s of pounds to their bank for salsar@s who may not dig deep in their pockets to pay their overdraft and bank charges! [Bit impractical/unrealistic dont you think to *jeopadise* ones financial/credit background?]

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