Business
Sack Lunch Discusses Strategy and Plans to Open 20 Additional Venues in 2017
Sack Lunch Discusses Strategy and Plans to Open 20 Additional Venues in 2017.
About this update from Sack Lunch Productions, Inc.
[{"type":"text","content":"\n \n \n Sack Lunch Discusses Strategy and Plans to Open 20 Additional Venues in 2017\n \n \nSack Lunch Discusses Strategy and Plans to Open 20 Additional Venues in 2017\n \n SALT LAKE CITY, UT--(Marketwired - Jun 14, 2017) -  Sack Lunch Productions, Inc. (OTC PINK: SAKL) announced today that it has plans to open as many as 20 additional events later in the season across all its brands. The focus in 2017 will remain on opening venues with larger capacities than in past years. \n \"Seeking venues with larger capacities, along with other operational improvements, will enhance participant experiences, as well as improve our bottom line,\" stated SAKL CEO, Richard Surber. The breakdown of additional events is expected to be 7 Lantern Fest®, 4 Trike Riot®, 4 Color Me Rad®, 2 Dirty Dash®, and 3 Slide the City® events.\n The strategy in 2017 includes an increase in digital ad spend, as well as concentrating marketing efforts on larger, higher margin events like The Lantern Fest®. A great example of the new strategy in action was The Lantern Fest® event recently hosted just outside Salt Lake City on May 20th. The event doubled in size from the spring 2016 event to this year's spring event. The Salt Lake Lantern Fest® was the largest single day event in our history. For illustration purposes, The Lantern Fest® sold more tickets at a single Salt Lake event than would be sold at 5 Slide the City® events. The largest Lantern Fest venue currently booked has the potential to gross over $1M in a single night. We are working on procuring other venues in densely populated areas with high capacities that can be booked for up to 3 nights with similar potential for revenues. The net profit margin when scaled properly is well over 40%.\n The strategy with regard to Slide the City® events has shifted and will continue to evolve. The shift is towards sponsored events in smaller communities or college campuses. The Slide the City® events that are 100% sponsored are not featured on our website because they are occupied 100% by the sponsors who pay a cash fee for us to host the event. In small cities and communities, Slide the City® in many cases, has received a cash fee that covers all or a large portion of our hard costs in ...