Corporate Events: Optimizing Your Stage Capacity

Most of us have a stage (or stages) at our facility that is not being used efficiently. Empty spaces do not make you money. It's time to embrace strategic measures to market and fill those empty spaces to capture that revenue! These are often ignored or overlooked opportunities to make good money.

Even before covid, our stages that are primarily used for live events weren't continually in use. Now that we are on the other side of the pandemic, and coming back in full force to serve our guests, we need to be thinking of ways to monetize every space we have. Whether you have indoor or outdoor stage areas, you can rent them out just as you do your event rooms. Make sure that when booking an event your clients know that it is an option.

Corporate events are possibly one of the best ways to optimize the use of your stage. Businesses use event rooms to put on meetings and presentations. But, why not expand that to the stage? You can also give them the option of renting the equipment needed (microphones, podiums, large projection screens, etc.) to enhance their ability to effectively reach the attendees with their message. This is a great way for guest speakers to get the attention of their audience and can be a better all-around experience than sitting in a room for hours.

More Ways to Maximize Stage Area Usage

Looking for more stage rental options? These are just a few of the diverse events in which your stage could be utilized:

• Award Ceremonies
• Bachelor/Bachelorette Parties (This is ideal for the larger celebrations that have a lot of attendees or have planned on hiring a live band or a DJ)
• Fundraisers
• Live Auctions

Promoting and marketing the many types of events that would benefit from having a stage, can really make the difference in rental opportunities.

What About Community Outreach?

For the really bold, you can always have an amateur stand-up comedy or even a karaoke day, for a fee of course. Charging an entry fee for the performers and charging a small admission for the guests is a fun way to open your stage up to the community. Promoting and offering an incentive, such as a prize for the highest voted for a performer can really bring in the visitors. The prizes don't have to be money, it could be a family day pass, free food or drink vouchers, basically anything to keep them in the park and enjoying the attractions and activities.

Contests (pie eating, charades, etc): These are always fun and exciting ways to involve guests for a memorable experience. Charging a small fee for the experience is another great way to increase that revenue.

What are your thoughts on using your stage to support community spirit?

07-09-22

?Tim Murphy is CEO of APX Operating Company, dba Boomers Parks, under the ownership of Cerberus private equity ($55B assets). Boomers Parks owns six family entertainment centers and two water parks with locations in California, Florida, and New Jersey.

As CEO of Boomers Parks since 2020, Tim took these eight parks from bankruptcy to profitability in just a year – in the middle of a global pandemic. When Boomers acquired these parks, they were operating at a $10 million loss. Tim transformed the customer experience and added new revenue streams to generate a 180% increase in revenue in 2021 (and on track to be a 250% increase in 2022).?

Tim launched his 35+ year career at Walt Disney World and has since served more than 150 entertainment, restaurant, and food & beverage brands across more than 10,000 locations in C-suite and senior positions.

?Additionally, Tim is a Board Director with Coney Park, Happy City, and YuKids - Family Entertainment & Amusement Parks, part of The Carlyle Group ($275B assets), a private equity firm that operates 150+ family entertainment centers and amusement parks in Latin America.?

?Tim has worked with top-tier entertainment and restaurant brands including Disney, Rebounderz Trampoline Parks, Darden Restaurants (Olive Garden, Bahama Breeze, etc.), Red Lobster, Jimmy John’s, Applebee’s, Sonny’s Bar-B-Q, Denny’s, El Pollo Loco, Hardee’s, Golden Corral, and Firehouse Subs.?

Tim has overseen more than 35 purchase transactions involving over 1,200 restaurants, stores, and park locations.?With extensive experience in buying and selling businesses, handling negotiations with buyers and sellers, and creating strategic partnerships to build strong brands, Tim has facilitated deals ranging from $11 million to $350 million+.

?Tim is a member of IAAPA, CAPA, FAA, AAMA & WWA. He is a licensed commercial real estate broker in the State of Florida. Tim earned a BS/BA in Accounting from the University of Central Florida and?an MBA in Finance from Orlando College.