PROFIT SHARING EVENTS
EOP is starting a new type of customer/partner relationship. We know that festivals and most annual events that have become traditions had to start somewhere with a Year #1! We also know that sponsorships are often essential for festivals, fairs, and other annual events. Being dependent on sponsorship renewing each year can create stress and uncertainty, especially when it comes time to plan the budget for your event.
While we certainly would be happy to accept an invitation to perform at any established festival, fair, or other annual event, we think we have a better idea........
What if we told you that instead of EOP asking if you can fit us in your budget, we told you we can work together to INCREASE your annual budget?
Before you say "It sounds too good to be true," please consider there are three major components that make this possible with EOP:
1) EOP has enough experiences to provide a stand-alone event. This means we can provide an entire event that either fills a venue multiple times per night or is a "come and go" event that lasts several hours.
2) EOP was created by people who managed successful fundraisers at middle schools. So even before EOP existed, our team has decades of combined fundraising experience. We understand what works, when to trust the process, and when to make adjustments based on data in a certain market. Perhaps more importantly, we understand what goes into building a successful fundraiser over several years.
3) Along those lines, we know that annual traditions do not start immediately. We have seen extremely successful fundraisers take two or three years to become profitable. Therefore, EOP is willing to invest in an opportunity with you and accept some of the inherent risk that goes with any new fundraiser.
Most entertainment companies will simply charge you a flat rate for any event meaning you must accept 100% of the risk. You owe this rate regardless of the fundraiser's success. This prevents many first time opportunities from even starting because the organization cannot accept the entire risk.
But we know first hand how fundraisers can grow. You need to get through Year #1 so you can make your revenue, and eventually create a new tradition, in subsequent years.
WHAT IS PROFIT SHARING?
The concept of profit sharing is that we jointly negotiate an arrangement that is mutually beneficial to get the first year off the ground. There is no "cookie-cutter" model because every event is different and overhead costs are always impacted by several factors:
* The experiences being provided (This is often determined by many of the following factors on this list!)
* The specific venue (Every venue has pros and cons)
* Time of year
* Days of the week
* How many days/nights is the event happening?
* Available power at the venue
* Potential market
Typically, EOP either charges nothing upfront or on a larger event, is guaranteed to recover a portion of its overhead. This will be far below market retail value of an event. We agree on ticket prices, other sources of revenue at the event (upgraded experiences, merchandise, concessions, etc.) Both sides recover all out of pocket expenses and then there is an agreed upon split of the profit. This percentage might be tiered, meaning it might be impacted by the success of the event.
We understand, and accept that the first year may be a bit of an investment, and are willing to accept some risk!
WHAT IS THE FIRST STEP?
Let's talk! There is no cost or obligation to have a phone call to just roll around some potential ideas. We will use our experience and your knowledge of your market to guide us as to what we want to provide. Call us at 252-764-7628 or e-mail us at [email protected]
While we certainly would be happy to accept an invitation to perform at any established festival, fair, or other annual event, we think we have a better idea........
What if we told you that instead of EOP asking if you can fit us in your budget, we told you we can work together to INCREASE your annual budget?
Before you say "It sounds too good to be true," please consider there are three major components that make this possible with EOP:
1) EOP has enough experiences to provide a stand-alone event. This means we can provide an entire event that either fills a venue multiple times per night or is a "come and go" event that lasts several hours.
2) EOP was created by people who managed successful fundraisers at middle schools. So even before EOP existed, our team has decades of combined fundraising experience. We understand what works, when to trust the process, and when to make adjustments based on data in a certain market. Perhaps more importantly, we understand what goes into building a successful fundraiser over several years.
3) Along those lines, we know that annual traditions do not start immediately. We have seen extremely successful fundraisers take two or three years to become profitable. Therefore, EOP is willing to invest in an opportunity with you and accept some of the inherent risk that goes with any new fundraiser.
Most entertainment companies will simply charge you a flat rate for any event meaning you must accept 100% of the risk. You owe this rate regardless of the fundraiser's success. This prevents many first time opportunities from even starting because the organization cannot accept the entire risk.
But we know first hand how fundraisers can grow. You need to get through Year #1 so you can make your revenue, and eventually create a new tradition, in subsequent years.
WHAT IS PROFIT SHARING?
The concept of profit sharing is that we jointly negotiate an arrangement that is mutually beneficial to get the first year off the ground. There is no "cookie-cutter" model because every event is different and overhead costs are always impacted by several factors:
* The experiences being provided (This is often determined by many of the following factors on this list!)
* The specific venue (Every venue has pros and cons)
* Time of year
* Days of the week
* How many days/nights is the event happening?
* Available power at the venue
* Potential market
Typically, EOP either charges nothing upfront or on a larger event, is guaranteed to recover a portion of its overhead. This will be far below market retail value of an event. We agree on ticket prices, other sources of revenue at the event (upgraded experiences, merchandise, concessions, etc.) Both sides recover all out of pocket expenses and then there is an agreed upon split of the profit. This percentage might be tiered, meaning it might be impacted by the success of the event.
We understand, and accept that the first year may be a bit of an investment, and are willing to accept some risk!
WHAT IS THE FIRST STEP?
Let's talk! There is no cost or obligation to have a phone call to just roll around some potential ideas. We will use our experience and your knowledge of your market to guide us as to what we want to provide. Call us at 252-764-7628 or e-mail us at [email protected]