**Nightlife Entertainment Company HELP**

[Tyler Moll]

Hello everyone,

First forum post but I am a college student in the midst of launching a multi-faceted promotion, event planning, and market consulting company for bars and nightclubs. Our primary demographic is college students, we are in a college town that has very little promoting aspects to give college students the best deals and events of the night. We plan to market the night through E-Flyers on social media, printed flyers posted around campus, and word of mouth. We will work with the bar establishment to reach new levels of revenue through capacity increases and strategic drink deals. Promoting is one of the largest aspects of the business but we do plan to host events and work with the bar/nightclubs to create themed nights and different weekly drink deals to always have the customers feeling like every night is a new night (because lets be real some college students get bored with going to the same club every Saturday night).

So, if anyone has experience with this PLEASE I could use all the help.

Couple questions:
What are ways to create revenue within the company? What deals should I work out with the bar establishment to ensure we benefit too?
Do I need to purchase a General Liability (GI) Insurance since I will be hosting events?
How do I take-over the market quickly?

Most importantly this is my first company, I would like to know how to make money within the company? I don't want to set up a meeting with a manager, ask for a ridiculous price floor and be shot down everywhere I go. Say a bar makes average $6,000 on a Saturday night, would charging 10-20% of revenue above that average be a feasible price?

Thank you.

 

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[Vigilante]

You're launching a company and you don't know how the company will make money?

Slow down, research the business, research the model, research the competitors, and be prepared to answer your own questions.

Asking random strangers on the internet how to do this demonstrates you are likely not well prepared enough to be "launching" anything...yet.

 

[Tyler Moll]

You're launching a company and you don't know how the company will make money?

Ok, maybe I worded it wrong. I know how we will make money, we are going to charge a percentage return off of the money over the establishments average nightly revenue. We will also charge a small fee for the creation of the promotion E-Flyer (most likely $60). My question is more so what is roughly a good percentage point to charge? Also, other ways to create revenue within the company. Whether it be shirt sales once the company becomes well known throughout campus (which it will), as well as other ideas.

Not only that does anyone with knowledge about nightlife promoting recommend renting a nightclub to host an event instead of charging a percentage?

 

[Tyler Moll]

You're launching a company and you don't know how the company will make money?

Slow down, research the business, research the model, research the competitors, and be prepared to answer your own questions.

Asking random strangers on the internet how to do this demonstrates you are likely not well prepared enough to be "launching" anything...yet.

I appreciate your advice. I know that I might not be well prepared now and there is a lot of stuff I need to work on the next couple months before Fall semester starts back up when I plan to launch, but this is an extremely large hole in the market of my college town that I feel the need to pounce on ASAP. I know this will be a huge thing. I just need all the advice I can get and continue gathering my research. Thanks again man

 

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[Vigilante]

Study. Put in 1,000 hours behind the scenes. Let this keep you up late at night, and skipping the next party. Let your drive change the way you look at life. Bill Gates started Microsoft in his college years. Steve Jobs started Apple in his college years. You are NOT too young to start. You just need to become obsessed and methodical.

 

[ZCP]

Focus on providing value and the money will follow.

 

[sWALK90]

Read my thread in my signature

..i did it from high school until i graduated college in 2014

 

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[Tyler Moll]

Read my thread in my signature

..i did it from high school until i graduated college in 2014

A lot of help thank you! There's a club near campus that would be perfect to rent out. Hope to work in relation with one college bar that I have my sights set on and establish credibility with a lot of the students, then attack the idea of renting out venues and nightclubs.

 

[sWALK90]

A lot of help thank you! There's a club near campus that would be perfect to rent out. Hope to work in relation with one college bar that I have my sights set on and establish credibility with a lot of the students, then attack the idea of renting out venues and nightclubs.

Set a date and see who will give you the venue\club for the cheapest then get a team together and attack the campus with flyers

 

[Tyler Moll]

Set a date and see who will give you the venue\club for the cheapest then get a team together and attack the campus with flyers

Been going at this hard since the last time we talked about it, have somewhat of a team built so far and a business strategy and plan. But was wondering when you were doing this were you required by the club/venue to have any liability insurance? Or do you have any information of whether I should get a General Liability insurance going into a business that deals with nightlife. Thank you

 

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[sWALK90]

Yea ive had it but never had to use it ..remember the club has to have insurance...some require it ..some dont..

 

[OldFaithful]

Welcome to the forum. Have you read the book it's based on yet?

 

[Tyler Moll]

Welcome to the forum. Have you read the book it's based on yet?

 

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[458]

Ill tell you exactly how to be 100% successful but i can guarantee you will 100% not do what I am going to tell you. All you have to do is the following:

1. Move to Miami
2. Work for LIV for 1 year

That's it. If you do that, you will learn everything you'll ever need to know about running a successful nightlife operation.

 

[sWALK90]

Ill tell you exactly how to be 100% successful but i can guarantee you will 100% not do what I am going to tell you. All you have to do is the following:

1. Move to Miami
2. Work for LIV for 1 year

That's it. If you do that, you will learn everything you'll ever need to know about running a successful nightlife operation.

I just went there for memorial day weekend, they are def killing it...