Know your Market

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Knowing your market is something so many people forget, I revert back to my slant on weddings and use the example as follow;

A Small Hotel with a large blank facility might manage to do 50 weddings, but probably at the lower end of the market turning over around £5k to £10k.

However, a Luxury County House Hotel with a unique offering in the higher end of the market may do 50 weddings a year, turning over £15k to £30k per event.

All in all the life lesson is that knowing your market segment might actually be more profitable for you than you could possibly think.

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