Curious How to invest in Nightclub/Events
I've been trying to research the process from making initial contact with event planners who organize upcoming events at popular nightclubs.To set up meetings,drawing up contracts,what to look for in the contract and their accounts,is it possible to Negotiate a higher percentage of return on investment if i invest in their upcoming event (and yes that's essentially what I'm trying to do, invest in the upcoming events at nightclub and receive a percentage of the profits and negotiate perks such drinks and food if i decide to go to the event.)
I've been talking to a couple Promoters and a event planner i met at the club about how I can go about this but the most I got was a clueless promoter and a newb event planner who told me bring my money and we will draw up the contract
(which I taught that I had to be crazy, if i just ran into this blind with my money)
Unfortunately after Googling like a mad person for 2 months I found many articles on investing unfortunately none were what I was searching for.
Can someone who has done this before/doing it now,can you give some recommendations on books,courses,websites,other resources or advice from you experiences which I can learn from and implement soon
I'd suggest you talk to the owners not the promoters. Many entertainment managers could help connect you with the club managers that could give you the information you seek. Entertainment business is lucrative, so be careful.
Aren't nightclubs and airlines about the worst possible investments you could ever be involved in?
I was reading an article on Jesse Waits, the guy who co-owns XS and Tryst in Vegas. He mentioned that he can pay upwards of half a night's gross on just getting the DJ. Add 100 heads (performers, bartenders, security, table girls, managers), per day rent expense, marketing, equipment rentals, plus God knows what else and its pretty easy to see how EBIT gets to 20%, maybe less.
Think about it, if I'm paying Calvin Harris $400k / show, and he brings in 4,000 people, I'm paying 100 / head. So before the night even starts I've got to make sure everyone spends at least $100 that shows up. Makes you think there's a ton of money in tier2-3 DJ's where they only pay 1/10 of that and drive the same volume.
You clearly know more about it than I do, based on what you're saying it's a business built around razor thin profit margins. Very interesting to get your take on their economics, +1 SB.
Promoters are usually kids in jr college or 37 year olds who have a lot of instagram followers. You would have to go to the owners of the club.
I did a few promotional gigs when I was in college. The economics of it wasn't great (10% of what the bar earned), but you felt important one night a week when deciding who should go on the guest list and not. Friends of mine still do this once a month, but it is not something they make a living out of. Of course, these places are not Hakkasan or XS.
The low economic gain is fine, My actually goal is social aspect.but I can't do it unless i know the steps involve in making it happen could you share them ?
Back then; 1000 friends on facebook and a cool picture for the event. Now, 10k followers on Instagram and throw in a sideboob.
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