Does Performance Max work for a single venue?

No, not as a start: for a single venue it spreads the little money across places you do not control and does not show which search brought the table. Manual search, with a radius and negatives, can be read; that automatic campaign, at the beginning, cannot. If you already have months of search with contacts, it can be tested with a separate cap and the real photo. Without that history there is nothing to optimise. It is switched on the first day and clicks appear from display and from outside the neighbourhood. The owner cannot explain where the cap went. A search campaign with the terms visible. Performance Max, if it ever comes in, has its own cap, photos of the venue and the condition that you can see which network it spent on.