We caught up with the brilliant and insightful Carol Moody a few weeks ago and have shared our conversation below.
Carol, looking forward to hearing all of your stories today. Let’s start big picture – what are some of biggest trends you are seeing in your industry?
As a small venue owner, I’m seeing a big trend in the wedding industry. With the average wedding cost of $30,000, my couples are opting for having a micro-wedding instead of a huge, lavish wedding.
Post-pandemic, most couples are scaling back and realizing that they don’t have to be stressed out over long guest lists, massive food and drink costs, and the stress of planning and executing such a big production.
Spring of 2022, a young lady contacted me about renting our venue for her wedding and reception. She stated that she and her fiance wanted an intimate wedding with only their closest family and friends. They also wanted to have a debt-free wedding.
We booked her date. The wedding was magical with her guests seated at tables on both side of the aisle. Because the guests consisted of close family, it made the atmosphere extra special. The ceremony lasted 20 minutes, and then the reception immediately followed. No need to drive to another location.
The couple were so elated after because they came in under budget and the process was smooth and simple. They paid less than $3,000 to get married and celebrate with 50 of their closest friends and family.
Couples can use the money they save to go on an elaborate honeymoon, or as a down payment on a home.
I chuckled because the bride lit up a cigar after the wedding to celebrate !
Carol, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?
Hospitality is my love language !
My goal is for everyone to feel comfortable. As a teenager, I made sure than when my mother arrived home from work, the house was clean and smelling nice.
My first business venture in hospitality came in 2017 when I was helping my 70 year old mother to acquire a nice place to rent, as she was heading for retirement. What I found were subpar properties that were too expensive and did not meet our expectations.
So, I took matters into my own hands. My husband, Travis, and I located a property, rehabbed it to make everything new and shiny, and rented it to my mother at an affordable rate.
Soon after in 2020, the property next door to my mother’s became available. We purchased that property, made some improvements, and listed it on Airbnb. I love creating the welcome baskets for our guests, who have traveled from all around the world to stay at our South Memphis retreat. I take pride in the fact that I have earned the distinction of being a ‘SuperHost ‘ with Airbnb.
My latest hospitality venture is an event venue called Visions Event Studio. It is located in the heart of Cordova at 1770 N. Germantown Parkway, Suite 5.
Visions is a modern, intimate venue with a capacity of 50 guests. I made it all-inclusive, so your rental includes tables, chairs, black table cloths, a smart TV, a professional bluetooth speaker, wireless microphone, and up lighting.
My goal for the venue if to take the stress out of hosting an event. Basically, you can bring your food and beverages, and you’re ready to host your event.
I named it Visions because you can make your event whatever you envision. Some guests keep it simple with a few decorations. Some guests go all out and hire event planners and decorators for their events.
Our most popular events are bridal showers, baby showers, and milestone birthday celebrations.
The focus for 2024 is to host more micro-weddings and elopements.
What sets Visions apart is our smooth booking process. We are totally paperless, so all contracts and payments are done online, We have keyless entry , so potential hosts can tour the venue at their convenience. I also focus on having great customer service by responding quickly to inquiries and calls.
What’s worked well for you in terms of a source for new clients?
By far, Google has been by #1 source for new clients.
I was caught up in trying to get my numbers up on social media, but my booking software tracks the lead sources.
As a new entrepreneur, I didn’t realize that I needed to set up a free Google business account. One of my friends Goggled my business when I first started, and it didn’t come up. He was the person that suggested that I take advantage of Google business.
I pass this tip along to any new business owners that I meet !
Are there any books, videos or other content that you feel have meaningfully impacted your thinking?
There are few books that shifted my paradigm to think like an entrepreneur.
The first is Chillpreneur by Denise Duffield-Thomas. I was under the impression that I needed to work 8 hour days in my business. This book changed my mindset to set my schedule and my business model to my personality. It’s okay to get my tasks done in 4 hours and chill the rest of the day.
Next is We Should All Be Millionaires by Rachel Rodgers. This book explains how women are afraid to ask for the money they deserve. I used to be quick to offer a discount before the customer even asked for one. Rodgers teaches how to increase your income and your power as a business woman. Now, I stand firm on my prices and am always researching new ways to generate more income.
Another is The Purple Cow this book by Seth Godin stresses to make your business stand out from the pack by being different and selecting your niche. My businesses stand out because I strive to have excellent customer service and interaction. Most of my customers tell me that I was the first venue to respond to their email or call.
Contact Info:
- Website: www.visionsmemphis.com
- Instagram: visionseventstudio901
- Facebook: visionseventsudio
Image Credits
Ricki Moody