BizNow's Revenue Per Employee
Share
A case study about BizNow Media, a real estate media and events company that was sold for $50-60M.
"In 2017, I researched Ryan Beagleman's company BizNow Media, which was basically what my company The Hustle was for real estate. They did about $18M in revenue the year they sold, with 75 employees. The revenue was split equally three ways: advertising, event ticket sales, and sponsorships.
The average revenue per event team member was around $300,000. They did 250 events the year before they sold, with an average ticket price of $80. They wouldn't do an event unless they could make $8-10,000 in revenue.
Most venues were free, and the programming was very short. An event would start at 7 AM, kick off with an hour of breakfast networking, followed by a 90-minute session for panels and discussion, then networking. Attendees would be back in their office by 10:30 AM.
The key insight about events is that the content isn't actually that important. All the speakers and content just serve to bring like-minded people together. The real value comes from those people being there - the content is basically just marketing to get the right people in the room."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.