Free calculator for wedding venue owners

How much can a wedding venue owner pay themselves?

A venue owner sees the most cash right before peak season, which is the worst time to take a big draw. What you can take depends on profit from events already held.

Average monthly profit, before you pay yourself$ Cash in the business bank today$ Payroll per run, all-in$ Fixed bills per month$ Big payments due in the next 3 months (tax, equipment, loan balloon)$

Steady monthly pay

80% of average profit

Extra draw you could take now

cash above what the business must keep

Cash the business must keep

2 payrolls + 1 month of bills + big payments

The starting numbers are an example for a wedding venue. Replace them with yours.

Three rules for paying yourself from a wedding venue

Base your pay on profit from events already held.
Leave deposits for future events out of any draw.
Personal taxes come out of what you take. Ask your accountant how much to set aside.

What changes the answer for a wedding venue

The bank balance at a venue is highest just before the season, swollen by deposits and final payments. The money that is yours is profit from events already held. Take your pay from that profit.

The worked example

In the example, the business keeps $54,000. That covers $16,000 for two payrolls, $18,000 of monthly bills and $20,000 due soon. Steady pay comes to $8,800 a month. Anything above $54,000 in the bank is spare.

A common question

Can a venue owner take a draw before wedding season?

Only from profit on events already held. Before the season, most of the balance is deposits for weddings you still have to host.

Know what is safe to take, every week

One Page CFO shows the cash above your safe line every Monday, from your QuickBooks, checked by a CFO.

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