We’re excited to introduce you to the always interesting and insightful Sarah Narcus. We hope you’ll enjoy our conversation with Sarah below.

Sarah, thanks for joining us, excited to have you contributing your stories and insights. Covid has brought about so many changes – has your business model changed?

Can you imagine a bigger challenge to the wedding industry than a pandemic? In March of 2020, like many other industries, weddings came to an immediate halt. As an indoor wedding venue in Massachusetts, we were not allowed to reopen until the summer of 2021, which led to nearly 1.5 years of closure. This was devastating on a professional and personal level, as I worked with couples to reschedule their weddings numerous times.

When we were finally allowed to reopen, it was clear that weddings had changed forever. Couples and families wanted their weddings bigger than before and more personalized. This was perfect for our business model at Olio. By creating a flexible, blank-slate space, couples have the ultimate control over their wedding day. We have seen that guests and clients alike are more eager than ever to share memorable, in-person experiences.

Sarah, 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?

Hi! I’m Sarah! I have worked in weddings for over 10 years as an entrepreneur, and in events for nearly 20 years. I planned my first million dollar fundraiser at 17 years old, and the rest is history. I have planned events large and small, and was working full-time at a Boston nonprofit when I launched my first business, Without A Hitch. We focus on wedding coordination for the hands-on bride or groom in New England. That business grew quickly until I was doing dozens of weddings each year, eventually leading me to leave my full-time day job. While that was happening, I had the chance to work at hundreds of venues around Boston and I had a big idea: I could start my own venue. I knew there was a gap in the market for something flexible, indoor, close to the city, and unique. I pitched my mom on the idea to be my business partner, and she agreed. Thus began our journey to start Olio. We hired a real estate agent, spent nearly 2 years looking at property all over the place, and eventually had our offer accepted on 43 Main Street in Peabody.

The building was built originally as a theater in 1910 so it is both historic and unique. We knew it would require a lot of work to bring it up to code, but the bones were definitely there. It took us an entire year to purchase the building, with permitting, financing, and more. When we closed on the property in October of 2018, we immediately began a million dollar renovation project that would just bring the building up to modern code. We opened in May of 2019 to great acclaim with our first wedding. We had a nice launch for that first few months until we were closed in March of 2020 due to COVID restrictions.

This journey of entrepreneurship has been and continues to be challenging and exciting and full of ups and downs. We are proud to have created a space for couples to celebrated their treasured moments, for people to gather in joy and learning, for photo and video teams to create art, and to serve as a community hub. Most importantly, we have created a space that is known for our inclusive messaging, even etching “We Welcome All” on the floor of our lobby.

Can you open up about how you funded your business?

My first business (Without A Hitch) required zero dollars to start. Simply a website and an email server, and we were up and running.

Olio is a whole different story. Purchasing property in New England is a challenge, especially for commercial use, and our property is historic and highly visible, in a bustling downtown. We had a budget of $1.5M to start the project, and we needed to obtain a loan for nearly all of that capital. We started down the road of speaking to local banks when we were trying to purchase the building, but all of them turned us down. Bank after bank after bank said no to our request for funds, causing us to fall out of escrow with the sellers several times. The banks claimed our business was too risky and too new, even though I had been running a successful related business for many years.

Finally, we landed on a loan through the SBA (Small Business Association) which afforded us the chance to move forward. With $1M from the SBA and a secondary loan through the city of Peabody, we purchased the building. We were nervous to have this much debt of course, but the loan required personal guarantees from us as individuals. So my home, my parents’ home, our assets, my other business, all of these backed up the loans that we were provided.

What’s been the best source of new clients for you?

Referrals are the lifeblood of the wedding industry. Without referrals, the business simply cannot succeed. We owe so much of our success to our personal connections with friends, family, professional vendors, neighbors, and more. Whenever we host an event, we think about every single guest and visitor as a potential referral source. Our goal is always to have the highest quality experience and hope that everyone tells their friends about us!

Contact Info:

• Website: oliopeabody.com
• Instagram: https://www.instagram.com/oliopeabody/
• Facebook: https://www.facebook.com/oliopeabody
• Linkedin: https://www.linkedin.com/company/64719821
• Yelp: https://www.yelp.com/biz/olio-peabody
• Other: https://www.tiktok.com/@oliopeabody?lang=en

Image Credits
Lena Mirisola The Gowans Paul Robert Berman Seamless Photography Vaysgant Weddings Mariel O Photo