MI297: The Wedding Venue Blueprint w/ Alex Nelson
The Intrinsic Value Podcast - The Investor’s Podcast Network
The Investor's Podcast Network
4.6 • 592 Ratings
🗓️ 9 October 2023
⏱️ 61 minutes
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| 0:00.0 | You're listening to TIP. |
| 0:02.1 | These pennies are booking out a year or two years in advance, and that was, like, insane. So I feel like I've always been a real estate guy at heart. I always thought maybe I'd get in a multi-single family. You know, I was going down that rabbit hole and studying it all. But I really had that, like, lightbulb moment when we're kind of looking of like, wow, like this is a big, beautiful property. I felt like it was like the ultimate, like real estate sleigh. |
| 0:24.6 | Hey guys, in this week's episode, I got to sit down with Alex Nelson to talk about how he got |
| 0:29.2 | started in the wedding venue business. You'll learn about what the process of starting an |
| 0:33.3 | event space was like, how he selected the site, what the finances of his project look like, |
| 0:38.2 | how he markets the space, and how Twitter has jump started his consulting business, plus a whole |
| 0:42.7 | lot more. Alex goes by the wedding venue guy on Twitter, and he's built a $3 million venue. He also |
| 0:48.6 | consults with investors looking to enter the space and is in the process of building out a wedding |
| 0:53.2 | venue holding company. |
| 0:55.0 | I'm really intrigued with the event space and Alex gave some great info on how to get started |
| 0:59.4 | if this is also an asset class that interests you. So let's dive into it and get into this |
| 1:04.4 | week's episode with the wedding venue guy, Alex Nelson. You're listening to Millennial Investing |
| 1:10.7 | by the Investors Podcast Network, where your hosts, Robert Leonard, Patrick. Alex Nelson. millennial generation. |
| 1:33.3 | Hey, everybody. Welcome to the millennial investing podcast. |
| 1:35.3 | I'm your host today, Patrick Donnelly. |
| 1:37.3 | And joining me today is the wedding venue guy from Twitter. |
| 1:40.3 | Alex, welcome to the show. |
| 1:41.3 | Hey, thanks for having to be, Patrick. |
| 1:43.3 | I'm really excited to talk with you today. I just want to jump right in and get right into the wedding venue niche business that you're in. I just wanted to hear like how you got into it, how you got inspired by it. Just wanted to hear kind of like the background story of like how you found your way into that niche. Sure. Yeah, obviously a question we get asked a lot. But short version is my wife and I, we got married four years ago. We live in Iowa. We went and toured all these venues and looked at these venues. Even if we back up a little farther, we were actually, we were high school we are. So we've been together for a long time. It was no surprise that we were going to get married. and we actually started looking at venues before we were even engaged. And this was like pre-COVID, pre-all, the craziness. And my wife was a teacher. So she had to get married during the summer. So she's looking at these dates and it was either like, we decide soon or they're booking out so far that we were going to have to push it like a whole other year. And to that was like the end of the world the world. We're going to like push her, put a life on hold for a whole other year. So we ended up |
| 2:37.1 | looking at venues and booking a venue before we were even engaged. And we're just in Iowa. And it's |
| 2:41.8 | like these venues are booking out a year or two years in advance. And that was like insane. So |
| 2:46.0 | I feel like I've always been a real estate guy at heart. I always thought maybe I'd get into multi-single family. You know, I was going down that rabbit hole and studying it all. But I really had that like light bulb moment when we're kind of looking of like, wow, like this is a big, beautiful property. I felt like it was like the ultimate like real estate play kind of thing as a young guy. And yeah, that's when we kind of, we knew we wanted to. My life liked the wedding. She planned our wedding, planned a bunch of friends and families weddings. |
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