How To Make Money Off Events with Gilbert Welsford of Sparks Entertainment Episode 134
SaaS Interviews with CEOs, Startups, Founders
Shownotes Transcript
Ep 134 Gilbert Welsford of Sparks Entertainment joins Nathan.
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3 Key Points:
Create authentic relationships.
Rent capital equipment at 10% of the purchase price.
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
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
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