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Monday, October 25, 2021

High Earning Business: Once you invest, you earn crores from this business

Banquet hall, also called marriage hall, has become the highest-grossing business in today’s time. You have often seen that people have to organize a wedding, party, anniversary, reception, birthday party etc., then they book a big hall or lawn for that. In which 500 to 1000 people can come together. And in today’s time, the trend of organizing various celebrations, festivals and parties in a big way has also become very high. In such a situation, if you do not have a shortage of capital or land, then you can build a banquet hall or marriage hall and open it. You may get a lot of earning in doing this business. To understand what are the necessary things for this, read this article in full.

Some requirements to start a banquet hall business

  • Investment:- This business is already a big level of business, so you should first think about investing because you have to invest more in it. But if you do this business by renting the space available in any residential complex etc. then you will need less investment in it.
  • decoration:- Your banquet hall should be decorated very beautifully. And it is also necessary to have all kinds of facilities in it. And your hall should be so big that 500 to 1000 people can come there together. Apart from this, if there are more than 2 floors, there should also be a lift facility.
  • Location:- Your banquet hall should be in a place where it is easy to reach and there is also a parking facility.
  • Other essential things: – Along with this, AC, chair, table, curtain, carpet, at least 5 to 10 rooms in your banquet hall, WiFi facility, electricity as well as generator facilities, CCTV camera, indoor game and play area for children, dance floor, Music DJ facilities, stage, better food menu etc. Apart from this, it is also necessary to have a facility of conference table and projector for a corporate meeting.

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Banquet Hall Business Demand (Scope)

Normally, people book banquet halls not only for wedding parties but also for corporate parties like meeting, training, launching of a product, Savard ceremony, product promotion and trade fires etc. Some people also do personal events like a fresher and fair party. Let me tell you that in today’s time, these types of events are held on income day. In such a situation, there is a high demand for banquet halls among the people. And crores of such halls have been built in India, so your competitors will be very much in it. You should contact them and see what facilities are being provided to the people by them. After that, you try to give a good facility to him. So, if you are thinking about starting this business, which must start, it will earn you a lot more. For this, it is most important to provide your competitor, marketing strategy and better facilities.

Funding in Banquet Hall Business

It requires many things in it, so more investment has to be made in it. If the entrepreneur has better funding to do this business then it is fine, and if not, then they can take loans from banks or finance companies under various schemes run by the government. In this way, your capital will be arranged.

Government for arranging capital to start banquet hall business Mudra Loan Scheme You can take a loan of up to 10 lakh rupees by taking advantage of.

Choose a good location in a banquet hall business 

The most important thing for a banquet hall is a better location, which ensures its success and failure. Therefore, to do the business of Banquet Hall, choose the location, seeing that it is in a place where the entrance is wide, the road is wide, there is a parking facility for the guests. With this, the power system should be very good there.

Construction of Banquet Hall

To do construction work in Banquet Hall, It is necessary to take help of an interior decorator. They can give better advice about this. Because entrepreneurs have less knowledge about it than them. Talk to a good interior decorator, tell them all your requirements and construct a banquet hall for you accordingly. You will have to pay them some fees for this.

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Decoration of Banquet Hall

After constructing the banquet hall, the most noticeable thing is how to make your banquet hall attractive so that it looks different from your competitors and people will also like it. The more nicely you decorate it, the more you will get the benefit. In this, do not forget to give all the facilities which are necessary. If a customer wants to have a party, then do all the things for his management too.

Staff appointment in Banquet Hall

It is necessary to appoint staff for organizing parties and other things in the banquet hall. For this, it is necessary to have the skills and training of the employee. So that they can help fulfill all the wishes of the customers. It is also necessary for employees to be intelligent.

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Menu and Tariff Determination in Banquet Hall Business

It is also necessary to determine the menu and tariff in this business. For this, you see how people mostly come there and what kind of food they like. Because if the people of South come, then they like to eat South Indian. In the same way, different types of food can be arranged for the people of other areas by setting the menu and tariff plan.

License and Registration in Banquet Hall Business

  • First of all, choose one in Proprietorship, Partnership, Private Limited and Limited etc.
  • After this one by name of your business do not forget to register tax and Current account.
  • After your business registration gets done, you will be able to take advantage of various government schemes.
  • If you keep employees and their number is more than 10 then PFI ESI registration is required.
  • You will also need a TAN number, which is to deduct the tax from the salary of the employees.
  • If you provide a food facility to your customers then you need to FSSAI license Have to be obtained.
  • You must also obtain a No Objection Certificate i.e. NOC from the Fire Department.

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Profit in Banquet Hall Business

There is no doubt in the business of banquet hall whether you will profit in it or not because this business is such that you have to profit. Banquet halls are booked by the people for organizing various functions on the income day, at one time you can take rent of up to Rs 1 lakh from them. Its rent can go ahead and earn you crores. Therefore, this will earn you the highest of millions.

So this was an important opportunity to earn the most by starting a banquet hall business. In doing this business, you just have to invest once, after this you will only benefit.

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Source: www.businessideashindi.com

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