Across the globe experiential events have skyrocketed in participation. The global population shift to city living is well documented. As society is increasingly isolated by work, not knowing your neighbors in big cities, and ever more personal interaction taking place online (gaming, social media, etc) people are gravitating to big, fun and interactive events.
In addition the "Fitness" wave has exploded - and consumers want more and funner ways to train. From crossfit to zumba, yoga or cycling - the fitness revolution has closely mirrored the social media revolution. Posting selfies, before & after fitness photos, and pics of friends huddled together in a crazy environment is here to stay.
Run Loco gives you the opportunity to get involved - and even lead the way. More importantly you get to make a difference in the world - helping to fight obesity, to make meaningful contributions to local causes, inspire activity in those around you, assist businesses in reaching their target audiences, and producing events people will love!
Most importantly you can have the autonomy of owning your own business in career you can be proud of and be recognized while doing something you love!
It's no secret that there are a LOT of events everywhere - with more coming online every day. As new events sprout up - or as you consider whether to become a licensee - there are a few things to consider:
1. SCALE. Consumers want a FULL SCALE experience. This means investing lots of time & money into creating the product and acquiring equipment (and paying to store it when it isn't being used) or choosing to tap into existing brands - and a network of franchisees who can deliver consumers the experience they want, while sharing costs, overhead, marketing expertise, and maximizing utilization of resources like equipment.
2. MARKETING. The Marketing & Advertising World is becoming more difficult. Reaching consumers on TV, radio or newspaper may not be as effective as it once was. Today you may have more luck finding your target consumers on Twitter or Instagram - and it changes every day! (Think SnapChat?) Managing a local social media effort can cost as much as a national campaign - and get less traction.
3. FOCUS. By taking some of the load off of an event manager to create, market, advertise, scale, stage, staff and store your event - you will find you have more time to FOCUS on maximizing event performance in other key areas. From sponsorship to PR, joint ventures to community outreach. You'll even have more time to focus on your family!
4. Get LOCAL. To our knowledge it has never been done before. Our vision is to create a national network of LOCAL event operators. This means our licensees must be LOCAL to their events. It also means you can do the little things locally that other national brands can't do. From local guerrilla marketing to local public relations to local vendors & sponsors - all the way to STAFFING the event locally - the opportunity to maximize revenue and minimize event costs is a key component.
5. The NETWORK. The power is in the NETWORK. Overtime as RunLoco expands you will find the most important benefit of the company is the network of Franchisees. Together you will exchange ideas, best practices, and more. You will likely forge relationships that will last a lifetime!
Our Philosophy
Well produced events are FUN. Execute the details. Don't cut corners - from executing event day details to spending the money on marketing to ensure the event is successful. Don't get greedy and focus on opportunities to create a WIN -WIN.
How It Works
As a Run Loco franchisee you make money by producing well marketed and executed events. You should also reach out to local vendors or sponsors - connecting them with audience of participants and giving sponsors and vendors the opportunity to support the causes your events are engaged in. You also make money by assisting third party event companies or causes with local marketing, staffing, and event management services.
At the core of the Run Loco opportunity is the chance for Run Loco operators to produce events in the territories you license from the variety of brands we represent. In addition to scheduling the event and securing a venue, Run Loco operators focus on marketing, sponsorship, and operating the events. Once a date has been created and a contract signed with a venue or a permit granted the event can begin selling tickets. The revenue from tickets sold goes directly to the operator (minus royalty or marketing co-op expenses).
Risk & Reward: Most events have a fixed "break even" point. This means if your event sells less tickets than needed to break even the event could lose money. Alternatively if an event sells more tickets than needed to break even - the event can quickly scale up and become profitable. As with any business endeavor, there are financial risks associated with operating a business - and there can be great rewards if the principles are followed.
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