Business Question

Assuming you can get enough business to make that profit (or even less, but still enough), I think it sounds like a great idea.  I'd keep doing the math and checking and rechecking that it could work the way you imagine, and if so, then go for it.

I say go for it!   You will do it, and you will make money.  It will be stressful at times and until you get the hang of it it all you may have some bumps in the road, but as long as you are aware of that and are ready to stick it out and build yourself a business I say theres nothing better out there.  In the end you will have accomplished a lot and it will all be worth it.
 
When I was 19 my MIL gave DH and I $5,000 as a wedding gift.  This is something she did for all her kids.  I decided I wanted to buy a house with it.  I dont know why I thought of it but I did.  Then right after the act of sale I decided I wanted to go to real esate school and have a career of that.  Then after I learned and saw the possibilities I decided I didnt want to be an agent, I wanted to own rentals and do flips and just own as much property as I could!   So, there I was at 20 years old with this elaborate "plan" I drew up to own 5 houses in 5 years.  I think my family thought I was NUTS!  But.... they were still renting.  Basically I had faith in my ideas and went ahead with it.  We now own 2, hopefully buying another very soon, when one of the others sells.  So its not there yet but Im getting there.  I My mom and dad have 2 and they were renting when I started lol... my talking in their ear and them seeing us do it made them want in!   Hopefully I cant sit back and watch it happen for me when Im older... although its a very stressful thing at times right now. 
 
My point is, if you think it will work DO IT!  You will always wonder what if and regret not trying if you dont.  If youve thought it out and trust your plans and numbers... go for it.  No one is gonna give you anything in life you have to go DO it![]
 
Okay Im rambling, I just love the idea of starting your own thing, I think everyone should do it.  Its exciting. 

I'm not really thinking of turning it into my own business or anything. I just saw an opening for a way to make some money off of us not being able to take these smaller to medium sized bookings. I'm sure if my company found out I would be out the door in a second!!
I am going to give it a shot, just to see. I know I can do an event, thats no problem. I think it's just that first step of trying that is making me worry. I just keep seeing numbers and $ signs. Booze is a great way to take money out of peoples wallets. (including mine) We buy a bottle of wine for $68HKD not bad stuff actually, (it's about $9US per bottle) and we sell it for almost $35US a bottle! Whats the markup on that? It's unreal what some people will pay for some hooch that will give you a headache in the morning just so they can say they were in the "see and be seen" place! But these are the type of people that want to have the events. Banks like Morgan Stanley, UBS, ING. We have a software company called SAP and they are paying us $600K  Hong Kong $ just to do a BBQ for 800 people! You get my point?
Anyway, that went off topic a bit. I'm going to talk to the mom and dad inlaw and see what they think. They will be getting money out of it also. With the rent and I even added 20% for them and I still ended up with 20K in the end as profit.
I just have to do some poaching, which isn't really what i'm up to but these people are looking for places for events and willing to pay.
Here is a link to the place I have in mind. We won't be using the bedrooms but just the common area and the rooftop.
Everything will be cleared out. I really think it is a good place.
[linkhttp://www.alimagroup.com.hk]www.alimagroup.com.hk[/link]
Edit: you have to click on Art and Living. BTY the artist is my wife.

I'm sure if my company found out I would be out the door in a second!!

 
Tells me everything I need to know about whether or not this is a good idea.  When I initially read your post I thought it sounded like a conflict of interest.

Hmmm, I guess Im not quite understanding then.  Why would your company be upset? Are you using anything of theirs and not telling them?  Is the location the same?  Stealing their clients? 
 
I guess I though you were going to be doing something in a different location on your own time.   Like starting your own thing. 

No, I'm sorry I think you misunderstood me. Sorry to confuse you.
I would be fired because My contract says I can't have another job without permission from the company.
I wouldn't be using anything of theirs, all of it would be mine. It would be in a different location on my own time. But I would be offering the people another venue. Yes I would be taking some clients, but since they cant have bookings outside it wouldn't be stealing them I dont think.
I don't know if it is wrong or not, I know if my company found out it would be a conflict of intrest and I would be gone. But if it does happen, there is that chance that I would have a decent sized client base by then and it wouldn't matter.
 

 know if my company found out it would be a conflict of intrest and I would be gone. But if it does happen, there is that chance that I would have a decent sized client base by then and it wouldn't matter.

But isn't there also a chance that your company would find out the very first day?  I think you need to take into account the very real possibility of losing your job as you consider this opportunity.

Professionally, I have always believed in full disclosure.  What would happen if you were to approach your company, before you do this, tell them what you are considering and see if you can get their blessing?

Yes I would be taking some clients

Then yes, you should be fired, unless you can come to some kind of agreement with your company that is acceptable to everyone involved.

I agree.  Is there any way you can talk with them about your idea and work something out?  Maybe they can even help you start your own business... and you will be on good terms, and they will happily send you the smaller parties and maybe you can send them the larger ones...?
 
If not, if they are not interested... then is there any way you can work out quitting and pursuing your own thing?  That would be an idea too.[]

Most businesses set up contracts to where one cannot become competition, even if you don't use "Their clients", you are still competition.

I have seen lawsuits happen because of this very reason.