Looking for a buyer.
Business Summary This business was extremely successful during the COVI-19 pandemic. Although their revenue dropped by 50%, they were able to increase margins by turning to virtual events and dropped close to 30% to EBITDA. The business is primed for growth and has a solid base of consistent clients that routinely schedule employee appreciation events and incentive trips for sales people. Location: Unstaffed physical office space in Los Angeles. One owner lives in Florida and one lives in Los Angeles. Events are produced nationwide with core hubs in San Diego, Los Angeles, San Francisco, Chicago, and Orlando through event managers and support staff. Core Business: ‘No fee’ corporate event planning Customer Base: Businesses with more than 200 employees including many Fortune 500 companies. Business Model: “Company” negotiates ‘wholesale’ rates with venues and vendors. “Company” is then hired by a large company to plan and execute a corporate event. Rather than charging an event planning fee, “Company” marks up the wholesale rate of the venue and vendors by 15% to 35% and the client ends up paying the standard ‘retail’ rate without any added event planning fee. Sales & Marketing: At a corporate level, “Company” is active in industry organizations and content generation to maintain the reputation of the company. The employees are responsible for landing new clients in their geographic areas through a variety of sales methods.
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