The traditional American pastime of comedy has been around for decades, bringing in millions of dollars in revenue each year. However, behind the scenes of the fun and laughter, operating a successful nightclub takes a lot of hard work. In addition to protecting your clients’ investment with a Comedy Club Insurance Program, share the following with them to promote their success in a competitive and challenging market.
Step 1: Size up the competition.
Before beginning to turn your dream into a reality, Chron suggests visiting surrounding comedy clubs to observe talent, ambiance, ticket and drink prices, and scope out trends. Staying current and booking talent that fits your clients’ demographic is key to their growth.
Step 2: Pick the right location.
Choose a spot that has other entertainment, theaters, and restaurants around to drive business. Just like when buying a home, location is everything, so think about the potential foot traffic that local shops can provide!
Step 3: Upsell.
Once your clients have picked the right venue and hosted a grand opening, it’s time to start upselling customers. Offer food items, alcoholic and nonalcoholic beverages, and merchandise to boost ticket sales. Get creative and offer the comedian’s favorite food or drink items as a special that night. This way, even comedy clubs that don’t have full kitchens can offer more to their customers.
Step 4: Pricing.
Stay on track with competition. While your clients might want to earn more money from ticket sales, overcharging will result in fewer people going to their comedy club. Notify customers of cancellation policies up front, as well.
Step 5: Booking talent.
This is the biggest profit-earner of any comedy club. Hosting relevant and up-and-coming performers can get people in the door and spread the word about your clients’ establishment.
About RMS Hospitality Group
RMS Hospitality Group has a deep understanding of the entertainment industry and the inherent risks involved in operating a comedy club business like yours. To learn more about our unique offerings for niche markets, contact one of our specialists today at (888) 359-8390.