How To Make Money Off Events with Gilbert Welsford of Sparks Entertainment Episode 134

Ep 134 Gilbert Welsford of Sparks Entertainment joins Nathan.

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3 Key Points:

1. Create authentic relationships.
2. Rent capital equipment at 10% of the purchase price.
3. Don’t shy away from businesses with large, up-front capital expenses—they payoff is there if you’re patient.

Episode Notes: 

• 01:00 – Nathan’s introduction to today’s show
• 01:28 – Sparks Entertainment
• 01:53 – A creative lighting company for events, tours, etc.
• 03:50 – Fees range from $2k to $150K
• 04:05 — $100K worth of business in September ‘15
• 04:35 – Spark also does Audio/Visual engineering, and staging
• 04:54 – Spark does a LOT of corporate events
• 05:30 – The client acquisition process
• 06:22 – Costs involved in the business—very capital intensive
• 06:39 – Profit margins for 1-off events are roughly 70 to 80% but that does not account for capital expenses
• 07:28 – Spark is still in high-growth mode
• 07:55 – Rent equipment out at 10% of the purchase price—so items are paid off depending upon how quickly they are rented
• 08:35 – Growth—what it looks like
• 10:14 — @GilWelsford
• 11:23 — Famous Five

Related: Want to learn how to go from $0-$10k/mo in revenue fast? Join Nathan live on the Starter Tribe Beta free workshop.

Famous 5

• Favorite Book?— Think and Grow Rich
• What CEO do you follow?— Steve Jobs
• What is your favorite online tool?— Google Docs
• Do you get 8 hours of sleep?— Yes
• If you could let your 20 year old self know one thing, what would it be?— Slow down and enjoy college…you’re going to be able to do “it” (whatever that “it” may be) eventually

Resources Mentioned:

• Growth Geeks – The way Nathan hires growth hackers on a per project basis for things like info graphics, blog posts, and other growth projects
• Think and Grow Rich – Gil’s favorite business book
• Want to learn how to go from $0-$10k/mo in revenue fast? Join Nathan live on the Starter Tribe Beta free workshop.

 

 

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