Leading Party Planner for Corporate & Private Events For Sale

Business description

Leading Party Planner for Corporate & Private Events/Celebrations -
Comedy, Theatre, Black Tie Evenings, Awards Events, Tribute Nights and Christmas Themed Parties

Established for over ten years, this is a well known London company specialising in organising corporate events/parties for groups of 15 – 1500. Founded by the current owner the company has grown since inception and is recognised as the events provider of choice at many first class locations.

Focussing on the mid market ‘Four Star’ market place, this London party organiser offers a variety of opoular entertainment choices and is the single largest user at most of the venues. Additional locations are, of course, sourced for bespoke events as demand dictates. These bespoke events are held for a blue chip client list that includes investment and retail banks, professional services firms, major construction companies, IT companies and outsourcing businesses. Excellent relationships exist with these organisations: much repeat business is obtained through this channel to market, as the client base is very satisfied with the service provided and accounts for 30 % of sales.

Clients can book unique London venues for private events, or join a themed dinner, show or dance and will be helped to find the perfect night's entertainment. Successful Christmas parties have been organised over the ten years of operation generating a high percentage of profit.

Typical events held are as follows:

• Tribute band dinner events featuring popular tribute artists
• Murder Mystery Dinner Theatre
• Casino dinner events
• Christmas themed dinner events

Contracts are renewed annually with the top event venues.

Equipment

A fully integrated computer system records all bookings and interfaces with the customer relationship management (CRM) and accounting systems. A significant investment has also been made in a Content Management System (CMS), which can increase the content on the main website at marginal cost.

Customer Service:

Commitment to personal service sits at the heart of the company’s client engagement strategy. This high level of client satisfaction ensures a constant stream of personal recommendation by venues, which being one of the most powerful forms of recommendation brings in constant new business.


Key Strengths:

This is an excellent business which has a first class reputation in its market. Highly cash generative, enjoying a £30 deposit per head upon booking, sometimes many months in advance, it operates from a number of excellent venues and has the monopoly on annual popular diary dates.

The staff employment model is to have a minimal number of full time people within the business: events based staff are hired and used as demand dictates.

First class relationships exist with the management teams at the venues which guarantees the on going success of the business.

The full ‘e-commerce’ web site, generates significant business and adds to the cash generation capability.

Financial Information:

The business is being offered for sale on a going concern basis: all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The business is financially stable and cash generative, Turnover is circa £555,000 per annum with Gross Profit of circa £204,000.

Property information

Property:

Leasehold

Lease terms:

This is not only financially advantageou,s with a minimal rent of circa £50,00 per week, but also allows the company to readily interact with its major supplier.

Location:

The business operates from first class rented office accommodation, at the site of its major event venue. This is not only financially advantageou,s with a minimal rent of circa £50,00 per week, but also allows the company to readily interact with its major supplier. The company has been granted preferred partner status by this venue for their clients.

Other information

Expansion potential:

The company owns a list of some eighty premium domain names; these can used to drive additional demand in other areas of events, especially in the summer months when the existing business is quieter. These are included in the sale and a recent independent guide to their value was £25,000.00

With the new Content Management System (CMS) new markets can be tested in house by the office staff, and rolled out without expensive design or IT costs.

This could form the basis of a nationwide expansion in major cities using a franchise model.

Currently the company has only a small footprint in the ever growing conference market: this is another area of rich opportunity which can be readily exploited and will also provide revenue on a year round basis.

Opportunities can be developed in the ‘Five Star’ market. Whilst these clients will be undoubtedly more demanding, revenue per head will be greater and profit opportunities excellent. There is a plethora of top class venues in London, many of which are ideal for this type of event.

Competition / Market:

The company recognises the importance and influence of advertising and marketing in the overall success of the business. Undoubtedly the main sales channel is the excellent website which is professionally designed, maintained and hosted. Having been fully ‘optimised’, it produces first class rankings with the major websites including Google™, Yahoo™ and Ask™. Brochures/flyers are produced for each event or series of events. There are circa 25,000 names on the corporate database. Circa 10% of total sales are generated through a network of agents who receive a commission of 15% of sales achieved. Direct referrals and ‘word of mouth’ recommendation produce a significant volume of new business.

Support & training:

A full period of training, handover and familiarisation will be provided to ensure a smooth transition to new ownership. The current owner will also be prepared to enter into an extended handover period, subject to separate negotiation.

Reasons for selling:

The current owner is looking to dispose of his interest in the business to enable him to focus on other activities.