Gator Business Sales is pleased to be working with the creators and owners of this profitable and very innovative events business based in London. PROP Events Ltd provides the best open photo and GIF booth rental options in London and the South East.
Weddings have traditionally been the principal, and sometimes only, source of income for photo booth companies. PROP is different and enjoys 3 revenue streams – corporate, weddings and parties. The list of corporate clients is particularly impressive and includes YouTube, Hyatt, ITV, Heinz and Twitter. The level of service provided by PROP, combined with the success of the events, leads to a high degree of repeat business from their corporate clientele.
The open nature of the PROP “booth” ensures that not only does it look good, but it can also be customized to fit in with any event theme. Additionally this open design gives the business a distinct advantage over traditional closed booths during the COVID-19 challenges. The company has also successfully updated its processes and methodology to allow it to safely operate.
PROP’s owners have invested heavily in networking and developing strong relationships with a wide range of companies and industries, and these affiliations will transfer with the sale. They include entertainment agencies, creative consultancies, luxury concierge services, and event management companies. PROP is also on the supplier lists of museums, hotel groups, event planners, bars and restaurants. On the wedding side, the company has an agreement to provide a booth in the VIP area of the National Wedding Show, and is an approved stand holder at the Un-Wedding Show. PROP was nominated in the Best Wedding Entertainment category of the British Wedding Awards 2020.
All fixtures, fittings and equipment required to operate two booths is included, and a detailed list is available to interested parties.
The majority of events currently take place in the evenings and at weekends, so owning PROP can successfully work alongside a “9 to 5 job” if required. Alternatively the new owners could look to further expand the business to incorporate daytime events.
COVID-19 Update – Understandably the coronavirus pandemic affected the business in 2020. PROP has low running costs which means that it has been able to adapt quickly and remain 100% operational without taking on debt. Importantly, 95% of wedding bookings which were due to take place in 2020 have been re-confirmed and moved to the second half of 2021 and 2022. As at March 2021 approx. £10K of confirmed bookings will transfer with the sale. Since the roadmap out of lockdown was announced, the business has started to receive new enquiries, and the owners are very confident that the business will quickly return to pre-pandemic levels.
This is a great opportunity for new owners to build further on the success and reputation of this fun and very innovative business.
Asking Price: £25,000
Annual Turnover: £52,200
Premises Details: Currently administered from a home office.
Support and Training: The sellers are committed to working with the new owners to ensure full training and a smooth transition.
Reason for Sale: The current owners are moving away from London.
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