As we all know, the world is in a pivotal position. The effects we’ve seen around the world just in recent months – floods, famine, extreme heat, water shortages, fires are starting to affect us all and we’re really beginning to see the repercussions.
But how does that affect your wedding venue business and how can you justify having a more sustainable business in the current climste of increased costs and lower spending?
Here I want to give you 7 bottom line, no-nonsense reasons why it makes good business sense to be a more sustainable wedding venue.
1) your clients increasingly care where their products and services come from
🪴they are shopping more sustainably in every aspect of their life and this is being reflected in their wedding purchasing choices also
🪴millennials are more sustainability-orientated compared with previous generations & are willing to pay a higher price for sustainable products and services
🪴this trend is already increasing as Generation Z are demonstrating an even greater shift towards consciously-sustainable purchasing
🪴wedding venue businesses that aren’t offering them a sustainable solution will lose out to their more sustainable competitors
🪴 wedding venue businesses that are, will stand apart from their competition by attracting an increase in higher-spending clients.
2) being more sustainable reduces costs & increases profits
🪴adopting sustainable practices can reduce your venues costs and increase profits by up to 60% in the longer term *
🪴although there are higher initial up-front costs to more sustainable solutions, a reduction in waste, being more cautious about your purchasing decisions and a greater level of reusing materials will reduce costs longer term – so reduce, reuse, recycle & recover
🪴fossil fuels and water will continue to become more scarce and therefore escalate in price – just look at the current energy prices! Identifying alternative solutions & renewable energy solutions will save considerably in the longer term – particularly for small and medium size businesses where energy is the single biggest contributor to increased costs.
3) your wedding venue business is more likely to attract top talent and retain it!
🪴figures show that millennials are more likely to accept a lower salary from a company that demonstrates it cares about sustainability, rather than being purely money-driven.
🪴this gives small venue owners the opportunity to compete with larger chains, by demonstrating a commitment to social and environmental responsibility
🪴studies have shown that companies demonstrating a more sustainable and ethical ethos, generate a more fulfilled, happy and healthier workforce (however big or small that workforce is!)
4) greater opportunities for funding and grant support
🪴wedding vneue businesses that can demonstrate genuine green credentials are eligible for grant funded support and bursaries at local, county and national level. Examples could include:
🪴Cycle to Work scheme
🪴Energy Saving grants
🪴Sustainable Production
🪴Sustainable Steps
🪴Sustainable development fund
To find out more about what is available, visit: Wales and UK wide.
5) increased sustainability regulations for businesses
🪴consumers, employees & governments are pushing for greater transparency on how all businesses are addressing environmental issues
🪴companies are expected to be more responsible in the way they work whilst ensuring that they are reducing unnecessary waste
🪴companies that do not comply with regulations may risk fines
🪴incorporating sustainable policies & responsible sourcing within your venue business will ensure you’re regulation-ready
6) it improves your brand image
🪴 being more sustainable improves your wedding venue’s reputation and your brand image
(the very fact that big business is jumping on the ‘sustainability’ bandwagon proves that they recognise the benefits to their brand by doing so!)
🪴NB!!! be genuine with your promises & commitments as Greenwashing*** will be found out and the affect on your reputation can be catastrophic!
7) it’s the right thing to do!
🪴we all have an ethical & moral responsibility towards our planet, the people & wildlife that inhabit it and to future generations. Make sure your wedding venue buisness is a business you can be proud of, for all the right reasons.
Zoë Binning Ltd is Wales’ most recognised wedding venue business consultant, helping Welsh wedding venues increase conversions, drive profits and secure positive feedback.
Zoë is an advocate for developing sustainable, eco-friendly and ethical wedding practices within the industry and can provide advice and support to help your venue to become more sustainable and eco-friendly in its endeavours.
Discover more about Zoë’s wedding venue consultancy services here and book a consultation directly with Zoë here.
To subscribe to Zoë’s newsletter, to receive all her thoughts and advice on the wedding industry and her latest posts direct to your inbox, you can do so here.
References:
*McKinsey report
**Environmental, Social & Governance ratings
*** (making untrue & misleading claims as to your eco-credentials/practices)