Profitable Virtual Team Building Company with Top Rated Products
San Francisco, CA
Established in 2015, this business delivers high quality, virtual corporate team building experiences. The company has meaningful free cash flow, streamlined operations, and strong positioning in a hot industry. The business is set up for a new owner to get up to speed quickly and explore numerous high potential growth opportunities at their own discretion. Prior to March 2020, we ran in-person events primarily in the San Francisco Bay Area. Our virtual activities are top-rated, with 500+ 5-star reviews on Google and Yelp: - Top virtual activities: Escape rooms & trivia games; additional products in development - Differentiating factors: leveraging creative problem solving to create highly interactive, memorable experiences; sophisticated game design which scales to groups of up to 700 people without loss of experience quality; custom, easy to operate technical backend to help facilitate events - +61 NPS from over 2,000 surveyed activity participants Strong brand recognition generates 61% of revenue, spread across repeat clients, converting old prospects, referrals, and newsletter-generated bookings. An established digital presence on Google and Yelp is responsible for the other 39% of revenue: - Page 1 ranking for multiple search terms on Google related to key products offered - #1 placement for key holiday season event terms, along with seasonal trends common to this industry, result in significant Q4 growth each year - 158% annual increase in website traffic since pivoting to virtual events - 55% event booking conversion rate for all prospects after initial contact This is a turnkey, high margin business with a lean, trained team: - Net profit margin: 78% - Excellent cash flow dynamics: Payments are delivered upfront, and service delivered after - No required advertising spend: Business built without ad spend (possible growth option) - Current owners’ time investment: 15 hours / week combined since September 2020. - Team Overview: Majority of core day-to-day operations are handled by a tenured, existing team, primarily by 1 full-time day-to-day manager. 2 part-time employees support event fulfillment. The business is highly profitable with a steady revenue foundation from its brand recognition and digital presence. We’ve experienced steady growth over the past 12 months and have identified many salient growth opportunities. The virtual event industry is growing rapidly, presenting a favorable environment for the new owner. The current owners will also help train the new owner to successfully transition existing day-to-day operations. If interested, please fill out the “Contact the Seller” form. We will share a confidentiality agreement, followed by access to a detailed business summary.